VVV

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0028%/8h= +3.1% APRnext payment +$0.03 per $10,000 · paid last 24h +0.006%

Price spread now: Backpack against Hyperliquid+0.053%7-day average +0.003% · you sell dearer than you buy

Net, funding: paid 7d − costs−$12as in the Funding arb table

Net, price: spread back to 7d avg − costs−$54as in the Price arb table

costs, in and out, $10k−$590.591% of the position

Long on Hyperliquid Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 7 days+0.472%+$47 on $10k

Price spread, last 4 days (all we have)−0.364%−$36 · spread now +0.053%, 7d avg +0.003%

Together, before fees+0.108%+ Points / potential airdropHyperliquid: Season 2 · farm board+$11 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and Backpack is 0.050% dearer against Hyperliquid than usual: you sell high and buy low: +$5 more if the spread goes back to its 7-day average of +0.003%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid VVV	30.808	0.0100	pay 0.0013% / 1h	6m 28s	$70.3M	$48.7M	3x
Short	Backpack VVV_USDC_PERP	30.824	0.0128	get 0.0016% / 1h	6m 28s	$120K	$249K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against Hyperliquid. 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 HyperliquidbpFee BackpackbpOrdersPrice spread, now +0.053%Rate

Funding earned: $5.87
Price spread: +0.053% → +0.003%: $4.96
Slippage, 4 orders: −$40.08
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Backpack: 5 bp × 2 orders: −$10
Net: −$48.25
Costs to cover: 0.591%
Break-even: 64.5 days

Slippage from Hyperliquid: live order book, 7 min ago; Backpack: live order book, 52 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 Hyperliquid live order book, 7 min ago	0.48 bp	11.6 bp −$12	doesn't fit	doesn't fit	doesn't fit
Sell Backpack live order book, 52 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	30.772	−0.117%	$377K	$628K	5x	as long as short
Deribit VVV_USDC-PERPETUAL	−0.0146%	1h	30.799	−0.030%	$86K	$24K	10x	as long as short
Polymarket Perps VVV-USD	−0.0097%	1h	30.786	−0.071%	$128K	$1.2M	3x	as long as short
gTrade (Gains Network) VVV/USD	L +0.0004% / S −0.0002%	1h	30.794	−0.045%	$23K	—	150x	as long as short
Injective VVV/USDC PERP	+0.0033%	1h	32.820	+6.531%	$2K	$1K	5.5x	as long as short
01 Exchange VVVUSD	+0.0048%	1h	30.798	−0.032%	$11K	$3K	3x	as long as short
Coinbase International VVV-PERP-INTX	+0.0064%	1h	30.964	+0.508%	$146K	$1.2M	25x	as long as short
Gate VVV_USDT	+0.0066%	4h	30.785	−0.075%	$10.3M	$6.0M	25x	as long as short
Lighter VVV	+0.0096%	1h	30.779	−0.095%	$2.1M	$5.3M	5x	as long as short
Lighter RH VVV	+0.0096%	1h	30.796	−0.039%	$450K	$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	30.789	−0.062%	$3K	$73	5x	as long as short
Nado VVV-PERP	+0.0100%	1h	30.801	−0.021%	$141K	$872K	3x	as long as short
Hyperliquid VVVlong	+0.0100%	1h	30.808	long leg	$70.3M	$48.7M	3x
Aster VVVUSDT	+0.0100%	4h	30.780	−0.090%	$246K	$1.1M	10x	as long as short
Pacifica VVV	+0.0100%	1h	30.798	−0.031%	$182K	$133K	10x	as long as short
Binance VVVUSDT	+0.0100%	4h	30.808	0.000%	$33.0M	$127.9M	25x	as long as short
Bybit VVVUSDT	+0.0100%	4h	30.792	−0.051%	$38.2M	$42.7M	20x	as long as short
OKX VVV-USDT-SWAP	+0.0100%	4h	30.806	−0.006%	$4.8M	$32.3M	20x	as long as short
MEXC VVV_USDT	+0.0100%	4h	30.807	−0.003%	$6.3M	$6.2M	50x	as long as short
KuCoin VVVUSDTM	+0.0100%	4h	30.786	−0.071%	$1.9M	$2.8M	20x	as long as short
Bitget VVVUSDT	+0.0100%	4h	30.790	−0.058%	$5.7M	$7.4M	20x	as long as short
BingX VVV-USDT	+0.0100%	4h	30.798	−0.032%	—	$5.0M	—	as long as short
Variational Omni VVV	+0.0100%	4h	30.895	+0.282%	$1.9M	$283K	—	as long as short
Derive VVV-PERP	+0.0100%	1h	30.808	0.000%	$3K	$3K	5x	as long as short
Phemex VVVUSDT	+0.0100%	4h	30.822	+0.045%	$2.0M	$2.1M	50x	as long as short
Extended VVV-USD	+0.0104%	1h	30.790	−0.057%	$293K	$1.9M	5x	as long as short
Aevo VVV-PERP	+0.0104%	1h	30.823	+0.049%	$6K	—	3x	as long as short
edgeX VVVUSDC	+0.0119%	4h	30.884	+0.246%	$77K	$332K	10x	as long as short
Backpack VVV_USDC_PERPshort	+0.0128%	1h	30.824	+0.053%	$120K	$249K	5x
BloFin VVV-USDT	+0.0133%	4h	30.818	+0.032%	$1.3M	$1.6M	25x	as long as short
Kalshi KXVVVPERP	+0.0142%	8h	30.848	+0.130%	$103K	$5.5M	1.7x	as long as short
Phoenix VVV	+0.0182%	1h	30.891	+0.269%	$32K	$253K	5x	as long as short
GMX VVV/USD [ETH-USDC]	L +0.0427% / S −0.0174%	1h	30.810	+0.007%	$541K	—	100x	as long as short