Funding arb · Price arb /

VVV

all VVV markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0051%/8h= +5.6% APRpaid last 24h −0.091%

Price spread now: Kalshi against Hyperliquid+0.078%7-day average −0.067% · you sell dearer than you buy

Net, funding: paid 7d − costs−$68as in the Funding arb table

Net, price: spread back to 7d avg − costs−$35as in the Price arb table

costs, in and out, $10k−$490.493% of the position

Long on Hyperliquid Short on Kalshi

What this pair did over the last

the charts below follow

Funding, last 7 days−0.191%−$19 on $10k

Price spread, last 7 days−0.185%−$19 · spread now +0.078%, 7d avg −0.067%

Together, before fees−0.377%+ Points / potential airdropHyperliquid: Season 2 · farm board−$38 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and Kalshi is 0.145% dearer against Hyperliquid than usual: you sell high and buy low: +$15 more if the spread goes back to its 7-day average of −0.067%. Mind the row above: over the last 7 days funding on this pair cost −0.191%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid VVV	30.841	0.0100	pay 0.0013% / 1h	27m 10s	$70.3M	$49.4M	3x
Short	Kalshi KXVVVPERP	30.865	0.0151	get 0.0151% / 8h	27m 10s	$101K	$5.7M	1.7x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kalshi 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 KalshibpOrdersPrice spread, now +0.078%Rate

Funding earned: $10.75
Price spread: +0.078% → −0.067%: $14.52
Slippage, 4 orders: −$30.29
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Kalshi: 5 bp × 2 orders: −$10
Net: −$24.02
Costs to cover: 0.493%
Break-even: 22.6 days

Slippage from Hyperliquid: live order book, 6 min ago; Kalshi: live order book, 2 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, 6 min ago	0.16 bp	7.8 bp −$8	doesn't fit	doesn't fit	doesn't fit
Sell Kalshi live order book, 2 min ago	7.94 bp	12.9 bp −$13	19.1 bp −$191	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	30.827	−0.045%	$378K	$624K	5x	as long as short
Polymarket Perps VVV-USD	−0.0098%	1h	30.826	−0.049%	$129K	$1.2M	3x	as long as short
Deribit VVV_USDC-PERPETUAL	0.0000%	1h	30.841	−0.001%	$86K	$24K	10x	as long as short
gTrade (Gains Network) VVV/USD	L +0.0004% / S −0.0002%	1h	30.856	+0.050%	$23K	—	150x	as long as short
01 Exchange VVVUSD	+0.0024%	1h	30.841	0.000%	$11K	$3K	3x	as long as short
Gate VVV_USDT	+0.0030%	4h	30.830	−0.036%	$10.3M	$6.0M	25x	as long as short
Injective VVV/USDC PERP	+0.0033%	1h	32.820	+6.417%	$2K	$1K	5.5x	as long as short
Coinbase International VVV-PERP-INTX	+0.0064%	1h	30.870	+0.094%	$145K	$1.2M	25x	as long as short
BloFin VVV-USDT	+0.0087%	4h	30.844	+0.010%	$1.3M	$1.6M	25x	as long as short
Lighter VVV	+0.0096%	1h	30.833	−0.025%	$2.1M	$5.2M	5x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter RH VVV	+0.0096%	1h	30.845	+0.013%	$450K	$1.6M	5x	as long as short
Paradex VVV-USD-PERP	+0.0100%	8h	30.844	+0.011%	$3K	$73	5x	as long as short
Nado VVV-PERP	+0.0100%	1h	30.849	+0.028%	$112K	$858K	3x	as long as short
Hyperliquid VVVlong	+0.0100%	1h	30.841	long leg	$70.3M	$49.4M	3x
Aster VVVUSDT	+0.0100%	4h	30.877	+0.116%	$247K	$1.1M	10x	as long as short
Pacifica VVV	+0.0100%	1h	30.880	+0.125%	$182K	$133K	10x	as long as short
Binance VVVUSDT	+0.0100%	4h	30.856	+0.049%	$33.0M	$130.5M	25x	as long as short
Bybit VVVUSDT	+0.0100%	4h	30.833	−0.026%	$38.4M	$43.6M	20x	as long as short
OKX VVV-USDT-SWAP	+0.0100%	4h	30.861	+0.065%	$4.8M	$33.4M	20x	as long as short
MEXC VVV_USDT	+0.0100%	4h	30.860	+0.062%	$6.3M	$6.2M	50x	as long as short
KuCoin VVVUSDTM	+0.0100%	4h	30.852	+0.036%	$2.0M	$2.8M	20x	as long as short
Bitget VVVUSDT	+0.0100%	4h	30.854	+0.042%	$5.7M	$7.5M	20x	as long as short
BingX VVV-USDT	+0.0100%	4h	30.852	+0.036%	—	$5.0M	—	as long as short
Variational Omni VVV	+0.0100%	4h	30.703	−0.449%	$1.9M	$337K	—	as long as short
Derive VVV-PERP	+0.0100%	1h	30.841	0.000%	$3K	$3K	5x	as long as short
Phemex VVVUSDT	+0.0100%	4h	30.835	−0.019%	$2.0M	$2.1M	50x	as long as short
edgeX VVVUSDC	+0.0103%	4h	30.741	−0.325%	$76K	$335K	10x	as long as short
Extended VVV-USD	+0.0104%	1h	30.848	+0.022%	$290K	$1.9M	5x	as long as short
Aevo VVV-PERP	+0.0104%	1h	30.859	+0.058%	$6K	—	3x	as long as short
Backpack VVV_USDC_PERP	+0.0136%	1h	30.862	+0.068%	$120K	$253K	5x	as long as short
Kalshi KXVVVPERPshort	+0.0151%	8h	30.865	+0.078%	$101K	$5.7M	1.7x
Phoenix VVV	+0.0182%	1h	30.844	+0.010%	$32K	$253K	5x	as long as short
GMX VVV/USD [ETH-USDC]	L +0.0427% / S −0.0174%	1h	30.848	+0.023%	$541K	—	100x	as long as short