Funding arb · Price arb /

VVV

all VVV markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0067%/8h= +7.3% APRpaid last 24h −0.055%

Price spread now: Bybit against Injective−4.887%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Injective Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Funding pays, the price is against you. Bybit is 4.887% cheaper against Injective than usual: you would sell low and buy high (spread −4.887% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$489 on $10k: about 8 months of funding at the current rate (+$2 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Injective VVV/USDC PERP	32.820	0.0033	pay 0.0004% / 1h	54m 40s	$2K	$1K	5.5x
Short	Bybit VVVUSDT	31.216	0.0100	get 0.0050% / 4h	2h 54m	$38.5M	$51.6M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Injective. 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 InjectivebpFee BybitbpOrdersPrice spread, now −4.887%Rate

Funding earned: $14
Price spread: −4.887% → 0.000%: −$488.73
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$485.75
Costs to cover: 0.110%
Break-even: 249.9 days

Slippage unknown: Injective: no order-book sample; Bybit: live order book, 4 min ago. Net counts fees only.

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 Injective no order-book sample	—	—	—	—	—
Sell Bybit live order book, 4 min ago	0.16 bp	16.6 bp −$17	75.1 bp −$751	doesn't fit	doesn't fit

Injective: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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
01 Exchange VVVUSD	−0.0080%	1h	31.200	−4.936%	$11K	$3K	3x	as long as short
Kalshi KXVVVPERP	0.0000%	8h	31.254	−4.771%	$104K	$6.9M	1.7x	as long as short
Deribit VVV_USDC-PERPETUAL	0.0000%	1h	31.304	−4.619%	$90K	$22K	10x	as long as short
gTrade (Gains Network) VVV/USD	L +0.0004% / S −0.0004%	1h	31.287	−4.670%	$18K	—	150x	as long as short
Injective VVV/USDC PERPlong	+0.0033%	1h	32.820	long leg	$2K	$1K	5.5x
BloFin VVV-USDT	+0.0043%	4h	31.306	−4.613%	$1.3M	$1.7M	25x	as long as short
RISEx VVV/USDC	+0.0078%	1h	31.200	−4.935%	$381K	$573K	5x	as long as short
Lighter VVV	+0.0096%	1h	31.258	−4.759%	$2.1M	$5.4M	5x	as long as short
Lighter RH VVV	+0.0096%	1h	31.226	−4.857%	$460K	$1.6M	5x	as long as short
Nado VVV-PERP	+0.0100%	1h	31.276	−4.706%	$145K	$778K	3x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid VVV	+0.0100%	1h	31.307	−4.610%	$71.4M	$54.0M	3x	as long as short
Aster VVVUSDT	+0.0100%	4h	31.265	−4.738%	$275K	$1.8M	10x	as long as short
Pacifica VVV	+0.0100%	1h	31.246	−4.795%	$186K	$176K	10x	as long as short
Binance VVVUSDT	+0.0100%	4h	31.239	−4.817%	$33.0M	$154.3M	25x	as long as short
Bybit VVVUSDTshort	+0.0100%	4h	31.216	−4.887%	$38.5M	$51.6M	20x
OKX VVV-USDT-SWAP	+0.0100%	4h	31.210	−4.906%	$4.7M	$40.6M	20x	as long as short
Gate VVV_USDT	+0.0100%	4h	31.209	−4.909%	$10.6M	$7.6M	25x	as long as short
MEXC VVV_USDT	+0.0100%	4h	31.245	−4.799%	$16.8M	$6.9M	50x	as long as short
KuCoin VVVUSDTM	+0.0100%	4h	31.261	−4.750%	$2.3M	$2.6M	20x	as long as short
Bitget VVVUSDT	+0.0100%	4h	31.229	−4.848%	$5.7M	$8.6M	20x	as long as short
BingX VVV-USDT	+0.0100%	4h	31.209	−4.909%	—	$5.4M	—	as long as short
Variational Omni VVV	+0.0100%	4h	31.220	−4.874%	$2.1M	$184K	—	as long as short
Polymarket Perps VVV-USD	+0.0100%	1h	31.268	−4.729%	$130K	$1.2M	3x	as long as short
Derive VVV-PERP	+0.0100%	1h	31.305	−4.617%	$1K	$1K	5x	as long as short
Phemex VVVUSDT	+0.0100%	4h	31.270	−4.723%	$2.1M	$2.0M	50x	as long as short
Paradex VVV-USD-PERP	+0.0100%	8h	31.258	−4.761%	$3K	$106	5x	as long as short
Extended VVV-USD	+0.0104%	1h	31.194	−4.953%	$312K	$1.6M	5x	as long as short
Aevo VVV-PERP	+0.0104%	1h	31.281	−4.690%	$6K	$13K	3x	as long as short
edgeX VVVUSDC	+0.0108%	4h	31.201	−4.934%	$78K	$329K	10x	as long as short
Phoenix VVV	+0.0174%	1h	31.179	−5.000%	$55K	$292K	5x	as long as short
Backpack VVV_USDC_PERP	+0.0228%	1h	31.328	−4.546%	$118K	$380K	5x	as long as short
Coinbase International VVV-PERP-INTX	+0.0232%	1h	31.124	−5.168%	$178K	$1.2M	25x	as long as short
GMX VVV/USD [ETH-USDC]	L +0.0441% / S −0.0204%	1h	31.289	−4.665%	$522K	—	100x	as long as short