Funding arb · Price arb /

VVV

all VVV markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0050%/8h= −5.5% APRpaid last 24h −0.010%

Price spread now: Bybit against Kalshi−0.113%7-day average −0.063% · you buy dearer than you sell

Net, funding: paid 7d − costs−$78as in the Funding arb table

Net, price: spread back to 7d avg − costs−$75as in the Price arb table

costs, in and out, $10k−$700.699% of the position

Long on Kalshi Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.077%−$8 on $10k

Price spread, last 7 days+0.062%+$6 · spread now −0.113%, 7d avg −0.063%

Together, before fees−0.015%−$1 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Bybit is 0.051% cheaper against Kalshi than usual: you would sell low and buy high (−$5 if the spread goes back to its 7-day average of −0.063%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kalshi KXVVVPERP	30.850	0.0150	pay 0.0150% / 8h	25m 35s	$101K	$5.7M	1.7x
Short	Bybit VVVUSDT	30.815	0.0100	get 0.0050% / 4h	25m 35s	$38.4M	$43.4M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Kalshi. 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 KalshibpFee BybitbpOrdersPrice spread, now −0.113%Rate

Funding earned: −$10.47
Price spread: −0.113% → −0.063%: −$5.08
Slippage, 4 orders: −$48.86
Fee Kalshi: 5 bp × 2 orders: −$10
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$85.41
Costs to cover: 0.699%
Break-even: never at this rate

Slippage from Kalshi: live order book, 3 min ago; Bybit: live order book, 3 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 Kalshi live order book, 3 min ago	7.94 bp	16.9 bp −$17	23.8 bp −$238	doesn't fit	doesn't fit
Sell Bybit live order book, 3 min ago	0.16 bp	22.7 bp −$23	38.3 bp −$383	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	30.801	−0.159%	$378K	$625K	5x	as long as short
Polymarket Perps VVV-USD	−0.0097%	1h	30.814	−0.117%	$129K	$1.2M	3x	as long as short
Deribit VVV_USDC-PERPETUAL	0.0000%	1h	30.808	−0.135%	$86K	$24K	10x	as long as short
gTrade (Gains Network) VVV/USD	L +0.0004% / S −0.0002%	1h	30.824	−0.084%	$23K	—	150x	as long as short
01 Exchange VVVUSD	+0.0016%	1h	30.819	−0.100%	$11K	$3K	3x	as long as short
Injective VVV/USDC PERP	+0.0033%	1h	32.820	+6.386%	$2K	$1K	5.5x	as long as short
Gate VVV_USDT	+0.0034%	4h	30.814	−0.117%	$10.3M	$6.0M	25x	as long as short
Coinbase International VVV-PERP-INTX	+0.0064%	1h	30.870	+0.065%	$145K	$1.2M	25x	as long as short
BloFin VVV-USDT	+0.0087%	4h	30.844	−0.019%	$1.3M	$1.6M	25x	as long as short
Lighter VVV	+0.0096%	1h	30.811	−0.127%	$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	30.825	−0.081%	$450K	$1.6M	5x	as long as short
Paradex VVV-USD-PERP	+0.0100%	8h	30.801	−0.158%	$3K	$73	5x	as long as short
Nado VVV-PERP	+0.0100%	1h	30.819	−0.099%	$112K	$858K	3x	as long as short
Hyperliquid VVV	+0.0100%	1h	30.825	−0.081%	$70.3M	$49.4M	3x	as long as short
Aster VVVUSDT	+0.0100%	4h	30.836	−0.045%	$246K	$1.1M	10x	as long as short
Pacifica VVV	+0.0100%	1h	30.846	−0.014%	$182K	$133K	10x	as long as short
Binance VVVUSDT	+0.0100%	4h	30.831	−0.062%	$33.0M	$130.3M	25x	as long as short
Bybit VVVUSDTshort	+0.0100%	4h	30.815	−0.113%	$38.4M	$43.4M	20x
OKX VVV-USDT-SWAP	+0.0100%	4h	30.832	−0.058%	$4.8M	$33.3M	20x	as long as short
MEXC VVV_USDT	+0.0100%	4h	30.823	−0.088%	$6.3M	$6.2M	50x	as long as short
KuCoin VVVUSDTM	+0.0100%	4h	30.837	−0.042%	$2.0M	$2.8M	20x	as long as short
Bitget VVVUSDT	+0.0100%	4h	30.814	−0.117%	$5.7M	$7.5M	20x	as long as short
BingX VVV-USDT	+0.0100%	4h	30.845	−0.016%	—	$5.0M	—	as long as short
Variational Omni VVV	+0.0100%	4h	30.801	−0.158%	$1.9M	$290K	—	as long as short
Derive VVV-PERP	+0.0100%	1h	30.819	−0.101%	$3K	$3K	5x	as long as short
Phemex VVVUSDT	+0.0100%	4h	30.829	−0.068%	$2.0M	$2.1M	50x	as long as short
edgeX VVVUSDC	+0.0103%	4h	30.741	−0.354%	$76K	$335K	10x	as long as short
Extended VVV-USD	+0.0104%	1h	30.821	−0.093%	$290K	$1.9M	5x	as long as short
Aevo VVV-PERP	+0.0104%	1h	30.834	−0.052%	$6K	—	3x	as long as short
Backpack VVV_USDC_PERP	+0.0128%	1h	30.845	−0.017%	$120K	$253K	5x	as long as short
Kalshi KXVVVPERPlong	+0.0150%	8h	30.850	long leg	$101K	$5.7M	1.7x
Phoenix VVV	+0.0182%	1h	30.844	−0.019%	$32K	$253K	5x	as long as short
GMX VVV/USD [ETH-USDC]	L +0.0427% / S −0.0174%	1h	30.817	−0.106%	$540K	—	100x	as long as short