Funding arb · Price arb /

VVV

all VVV markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0052%/8h= +5.7% APRpaid last 24h +0.078%

Price spread now: Backpack against edgeX−0.015%7-day average +0.028% · you buy dearer than you sell

Net, funding: paid 7d − costs−$56as in the Funding arb table

Net, price: spread back to 7d avg − costs−$120as in the Price arb table

costs, in and out, $10k−$1161.158% of the position

Long on edgeX Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 7 days+0.596%+$60 on $10k

Price spread, last 4 days (all we have)+0.030%+$3 · spread now −0.015%, 7d avg +0.028%

Together, before fees+0.626%+ Points / potential airdropedgeX: Active · farm board+$63 on $10k · with fees, hour by hour

Funding pays, the price is against you. Backpack is 0.043% cheaper against edgeX than usual: you would sell low and buy high (spread −0.015% now, against its 7-day average of +0.028%). If the spread goes back, that is −$4 on $10k: about 2.7 days of funding at the current rate (+$2 a day). At the pace of the last 7 days (+0.596% in total) that is about 12 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	edgeX VVVUSDC	30.765	0.0102	pay 0.0051% / 4h	31m 07s	$76K	$334K	10x
Short	Backpack VVV_USDC_PERP	30.760	0.0154	get 0.0019% / 1h	31m 07s	$119K	$253K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against edgeX. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

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 edgeXbpFee BackpackbpOrdersPrice spread, now −0.015%Rate

Funding earned: $10.92
Price spread: −0.015% → +0.028%: −$4.28
Slippage, 4 orders: −$96.85
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee Backpack: 5 bp × 2 orders: −$10
Net: −$109.21
Costs to cover: 1.158%
Break-even: 77.0 days

Slippage from edgeX: live order book, 27 min ago; Backpack: live order book, 27 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 edgeX live order book, 27 min ago	0.81 bp	41.2 bp −$41	doesn't fit	doesn't fit	doesn't fit
Sell Backpack live order book, 27 min ago	2.74 bp	13.7 bp −$14	doesn't fit	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
RISEx VVV/USDC	−0.0299%	1h	30.715	−0.164%	$377K	$626K	5x	as long as short
Deribit VVV_USDC-PERPETUAL	−0.0128%	1h	30.711	−0.176%	$85K	$24K	10x	as long as short
Polymarket Perps VVV-USD	−0.0106%	1h	30.712	−0.172%	$128K	$1.2M	3x	as long as short
gTrade (Gains Network) VVV/USD	L +0.0004% / S −0.0002%	1h	30.736	−0.095%	$23K	—	150x	as long as short
01 Exchange VVVUSD	+0.0032%	1h	30.727	−0.124%	$11K	$3K	3x	as long as short
Injective VVV/USDC PERP	+0.0033%	1h	32.820	+6.679%	$2K	$1K	5.5x	as long as short
Gate VVV_USDT	+0.0036%	4h	30.726	−0.127%	$10.3M	$6.0M	25x	as long as short
Coinbase International VVV-PERP-INTX	+0.0064%	1h	30.768	+0.010%	$144K	$1.2M	25x	as long as short
Lighter VVV	+0.0096%	1h	30.720	−0.147%	$2.0M	$5.2M	5x	as long as short
Lighter RH VVV	+0.0096%	1h	30.737	−0.091%	$449K	$1.6M	5x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Paradex VVV-USD-PERP	+0.0100%	8h	30.725	−0.132%	$3K	$73	5x	as long as short
Nado VVV-PERP	+0.0100%	1h	30.718	−0.151%	$111K	$858K	3x	as long as short
Hyperliquid VVV	+0.0100%	1h	30.743	−0.072%	$70.1M	$49.3M	3x	as long as short
Aster VVVUSDT	+0.0100%	4h	30.748	−0.056%	$246K	$1.1M	10x	as long as short
Pacifica VVV	+0.0100%	1h	30.749	−0.054%	$181K	$133K	10x	as long as short
Binance VVVUSDT	+0.0100%	4h	30.756	−0.029%	$32.8M	$130.6M	25x	as long as short
Bybit VVVUSDT	+0.0100%	4h	30.736	−0.094%	$38.3M	$43.7M	20x	as long as short
OKX VVV-USDT-SWAP	+0.0100%	4h	30.758	−0.023%	$4.8M	$33.5M	20x	as long as short
MEXC VVV_USDT	+0.0100%	4h	30.742	−0.075%	$6.3M	$6.2M	50x	as long as short
KuCoin VVVUSDTM	+0.0100%	4h	30.741	−0.078%	$2.0M	$2.8M	20x	as long as short
Bitget VVVUSDT	+0.0100%	4h	30.725	−0.130%	$5.7M	$7.5M	20x	as long as short
BingX VVV-USDT	+0.0100%	4h	30.748	−0.055%	—	$5.0M	—	as long as short
Variational Omni VVV	+0.0100%	4h	30.703	−0.203%	$1.9M	$337K	—	as long as short
Derive VVV-PERP	+0.0100%	1h	30.719	−0.151%	$3K	$3K	5x	as long as short
Phemex VVVUSDT	+0.0100%	4h	30.722	−0.140%	$2.0M	$2.1M	50x	as long as short
edgeX VVVUSDClong	+0.0102%	4h	30.765	long leg	$76K	$334K	10x
Extended VVV-USD	+0.0104%	1h	30.716	−0.161%	$290K	$1.9M	5x	as long as short
Aevo VVV-PERP	+0.0104%	1h	30.743	−0.071%	$6K	—	3x	as long as short
Kalshi KXVVVPERP	+0.0153%	8h	30.754	−0.036%	$97K	$5.7M	1.7x	as long as short
Backpack VVV_USDC_PERPshort	+0.0154%	1h	30.760	−0.015%	$119K	$253K	5x
BloFin VVV-USDT	+0.0155%	4h	30.720	−0.146%	$1.3M	$1.6M	25x	as long as short
Phoenix VVV	+0.0182%	1h	30.774	+0.029%	$32K	$253K	5x	as long as short
GMX VVV/USD [ETH-USDC]	L +0.0426% / S −0.0174%	1h	30.730	−0.115%	$539K	—	100x	as long as short