Funding arb · Price arb /

VVV

all VVV markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0320%/8h= −35.0% APRpaid last 24h +0.015%

Price spread now: Kalshi against Coinbase International+0.330%7-day average −0.076% · you sell dearer than you buy

Net, funding: paid 7d − costs−$90as in the Funding arb table

Net, price: spread back to 7d avg − costs−$41as in the Price arb table

costs, in and out, $10k−$820.819% of the position

Long on Coinbase International Short on Kalshi

What this pair did over the last

the charts below follow

Funding, last 7 days−0.081%−$8 on $10k

Price spread, last 3 days (all we have)+0.001%$0 · spread now +0.330%, 7d avg −0.076%

Together, before fees−0.080%−$8 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Kalshi is 0.406% dearer against Coinbase International than usual: you sell high and buy low (spread +0.330% now, against its 7-day average of −0.076%): +$41 on $10k if it goes back. Holding the pair costs −$10 a day in funding at the current rate, which eats that in about 4.2 days. At the pace of the last 7 days (−0.081% in total) that is about 35 days.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.081% in total (about -4.2% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International VVV-PERP-INTX	32.034	0.0320	pay 0.0040% / 1h	37m 33s	$246K	$1.2M	25x
Short	Kalshi KXVVVPERP	32.140	0	get 0.0000% / 8h	3h 37m	$109K	$6.6M	1.7x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kalshi against Coinbase International. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee Coinbase InternationalbpFee KalshibpOrdersPrice spread, now +0.330%Rate

Funding earned: −$67.2
Price spread: +0.330% → −0.076%: $40.59
Slippage, 4 orders: −$61.88
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Kalshi: 5 bp × 2 orders: −$10
Net: −$108.5
Costs to cover: 0.819%
Break-even: never at this rate

Slippage from Coinbase International: live order book, 1 min ago; Kalshi: live order book, 1 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy Coinbase International live order book, 1 min ago	17.61 bp	32.2 bp −$32	49.8 bp −$498	doesn't fit	doesn't fit
Sell Kalshi live order book, 1 min ago	6.54 bp	12.8 bp −$13	21.0 bp −$210	doesn't fit	doesn't fit

VVV on 33 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Polymarket Perps VVV-USD	−0.0322%	1h	32.030	−0.013%	$146K	$1.2M	3x	as long as short
01 Exchange VVVUSD	−0.0104%	1h	32.051	+0.052%	$11K	$3K	3x	as long as short
Bybit VVVUSDT	−0.0055%	4h	32.040	+0.018%	$39.3M	$51.5M	20x	as long as short
RISEx VVV/USDC	−0.0015%	1h	32.023	−0.036%	$394K	$601K	5x	as long as short
Kalshi KXVVVPERPshort	0.0000%	8h	32.140	+0.330%	$109K	$6.6M	1.7x
Phoenix VVV	0.0000%	1h	32.084	+0.155%	$56K	$298K	5x	as long as short
Deribit VVV_USDC-PERPETUAL	0.0000%	1h	32.129	+0.297%	$91K	$23K	10x	as long as short
gTrade (Gains Network) VVV/USD	L +0.0004% / S −0.0004%	1h	32.141	+0.335%	$19K	—	150x	as long as short
Gate VVV_USDT	+0.0006%	4h	32.110	+0.237%	$10.8M	$7.3M	25x	as long as short
Injective VVV/USDC PERP	+0.0033%	1h	32.820	+2.453%	$2K	$1K	5.5x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter VVV	+0.0096%	1h	32.110	+0.238%	$2.2M	$5.9M	5x	as long as short
Lighter RH VVV	+0.0096%	1h	32.108	+0.230%	$478K	$1.6M	5x	as long as short
Nado VVV-PERP	+0.0100%	1h	32.033	−0.002%	$126K	$850K	3x	as long as short
Hyperliquid VVV	+0.0100%	1h	32.083	+0.152%	$74.3M	$54.9M	3x	as long as short
Aster VVVUSDT	+0.0100%	4h	32.129	+0.296%	$262K	$1.9M	10x	as long as short
Pacifica VVV	+0.0100%	1h	32.147	+0.351%	$192K	$189K	10x	as long as short
Binance VVVUSDT	+0.0100%	4h	32.061	+0.082%	$33.7M	$154.6M	25x	as long as short
OKX VVV-USDT-SWAP	+0.0100%	4h	32.054	+0.062%	$4.7M	$41.7M	20x	as long as short
MEXC VVV_USDT	+0.0100%	4h	32.055	+0.065%	$6.5M	$6.9M	50x	as long as short
KuCoin VVVUSDTM	+0.0100%	4h	32.042	+0.024%	$2.0M	$2.8M	20x	as long as short
Bitget VVVUSDT	+0.0100%	4h	32.018	−0.051%	$5.8M	$8.9M	20x	as long as short
BingX VVV-USDT	+0.0100%	4h	32.125	+0.283%	—	$5.4M	—	as long as short
Backpack VVV_USDC_PERP	+0.0100%	1h	32.165	+0.409%	$125K	$333K	5x	as long as short
Variational Omni VVV	+0.0100%	4h	32.057	+0.071%	$2.1M	$187K	—	as long as short
Derive VVV-PERP	+0.0100%	1h	32.137	+0.320%	$2K	$2K	5x	as long as short
Phemex VVVUSDT	+0.0100%	4h	32.133	+0.308%	$2.1M	$2.1M	50x	as long as short
Paradex VVV-USD-PERP	+0.0100%	8h	32.122	+0.275%	$3K	$106	5x	as long as short
Extended VVV-USD	+0.0104%	1h	32.116	+0.255%	$310K	$2.0M	5x	as long as short
Aevo VVV-PERP	+0.0104%	1h	32.114	+0.250%	$6K	—	3x	as long as short
edgeX VVVUSDC	+0.0115%	4h	32.094	+0.186%	$80K	$334K	10x	as long as short
BloFin VVV-USDT	+0.0154%	4h	32.108	+0.230%	$1.3M	$1.8M	25x	as long as short
GMX VVV/USD [ETH-USDC]	L +0.0178% / S +0.0120%	1h	32.142	+0.337%	$581K	—	100x	as long as short
Coinbase International VVV-PERP-INTXlong	+0.0320%	1h	32.034	long leg	$246K	$1.2M	25x