Funding arb · Price arb /

VVV

all VVV markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0303%/8h= −33.2% APRpaid last 24h −0.010%

Price spread now: Coinbase International against Kalshi+0.252%7-day average +0.070% · you sell dearer than you buy

Net, funding: paid 7d − costs−$72as in the Funding arb table

Net, price: spread back to 7d avg − costs−$59as in the Price arb table

costs, in and out, $10k−$770.774% of the position

Long on Kalshi Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+0.054%+$5 on $10k

Price spread, last 4 days (all we have)−0.648%−$65 · spread now +0.252%, 7d avg +0.070%

Together, before fees−0.594%−$59 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Coinbase International is 0.182% dearer against Kalshi than usual: you sell high and buy low (spread +0.252% now, against its 7-day average of +0.070%): +$18 on $10k if it goes back. Holding the pair costs −$9 a day in funding at the current rate, which eats that in about 2.0 days. Mind the row above: over the last 7 days funding on this pair paid +0.054%, so the current rate has only just turned against you.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.054% in total (about 2.8% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kalshi KXVVVPERP	30.646	0.0263	pay 0.0263% / 8h	6h 53m	$94K	$5.6M	1.7x
Short	Coinbase International VVV-PERP-INTX	30.723	−0.0040	pay 0.0005% / 1h	53m 18s	$143K	$1.2M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International 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 Coinbase InternationalbpOrdersPrice spread, now +0.252%Rate

Funding earned: −$63.61
Price spread: +0.252% → +0.070%: $18.2
Slippage, 4 orders: −$57.41
Fee Kalshi: 5 bp × 2 orders: −$10
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$122.82
Costs to cover: 0.774%
Break-even: never at this rate

Slippage from Kalshi: live order book, 5 min ago; Coinbase International: live order book, just now.

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, 5 min ago	5.21 bp	12.2 bp −$12	18.8 bp −$188	doesn't fit	doesn't fit
Sell Coinbase International live order book, just now	14.26 bp	22.6 bp −$23	39.5 bp −$395	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	−0.0329%	1h	30.595	−0.166%	$378K	$646K	5x	as long as short
Coinbase International VVV-PERP-INTXshort	−0.0040%	1h	30.723	+0.252%	$143K	$1.2M	25x
Deribit VVV_USDC-PERPETUAL	0.0000%	1h	30.663	+0.057%	$85K	$22K	10x	as long as short
gTrade (Gains Network) VVV/USD	L +0.0004% / S −0.0006%	1h	30.660	+0.046%	$21K	—	150x	as long as short
Polymarket Perps VVV-USD	+0.0020%	1h	30.614	−0.104%	$118K	$1.4M	3x	as long as short
Injective VVV/USDC PERP	+0.0033%	1h	32.820	+7.094%	$2K	$1K	5.5x	as long as short
01 Exchange VVVUSD	+0.0048%	1h	30.609	−0.121%	$11K	$3K	3x	as long as short
BloFin VVV-USDT	+0.0095%	4h	30.684	+0.124%	$1.3M	$1.5M	25x	as long as short
Lighter VVV	+0.0096%	1h	30.658	+0.038%	$2.0M	$4.6M	5x	as long as short
Lighter RH VVV	+0.0096%	1h	30.659	+0.042%	$447K	$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	30.616	−0.098%	$3K	$73	5x	as long as short
Nado VVV-PERP	+0.0100%	1h	30.636	−0.033%	$133K	$870K	3x	as long as short
Hyperliquid VVV	+0.0100%	1h	30.634	−0.039%	$69.1M	$48.6M	3x	as long as short
Aster VVVUSDT	+0.0100%	4h	30.655	+0.030%	$243K	$1.0M	10x	as long as short
Pacifica VVV	+0.0100%	1h	30.638	−0.025%	$181K	$131K	10x	as long as short
Binance VVVUSDT	+0.0100%	4h	30.665	+0.061%	$33.0M	$123.7M	25x	as long as short
Bybit VVVUSDT	+0.0100%	4h	30.660	+0.046%	$38.0M	$42.2M	20x	as long as short
OKX VVV-USDT-SWAP	+0.0100%	4h	30.661	+0.049%	$4.8M	$30.9M	20x	as long as short
Gate VVV_USDT	+0.0100%	4h	30.642	−0.013%	$10.6M	$5.6M	25x	as long as short
MEXC VVV_USDT	+0.0100%	4h	30.643	−0.010%	$6.3M	$5.7M	50x	as long as short
KuCoin VVVUSDTM	+0.0100%	4h	30.636	−0.033%	$1.9M	$2.8M	20x	as long as short
Bitget VVVUSDT	+0.0100%	4h	30.655	+0.029%	$5.7M	$7.2M	20x	as long as short
BingX VVV-USDT	+0.0100%	4h	30.665	+0.062%	—	$4.9M	—	as long as short
Variational Omni VVV	+0.0100%	4h	30.690	+0.142%	$1.9M	$350K	—	as long as short
Derive VVV-PERP	+0.0100%	1h	30.654	+0.026%	$3K	$3K	5x	as long as short
Phemex VVVUSDT	+0.0100%	4h	30.659	+0.042%	$2.0M	$2.1M	50x	as long as short
Extended VVV-USD	+0.0104%	1h	30.667	+0.069%	$299K	$2.2M	5x	as long as short
Aevo VVV-PERP	+0.0104%	1h	30.666	+0.065%	$6K	—	3x	as long as short
edgeX VVVUSDC	+0.0106%	4h	30.670	+0.080%	$76K	$332K	10x	as long as short
Phoenix VVV	+0.0209%	1h	30.686	+0.131%	$32K	$243K	5x	as long as short
Kalshi KXVVVPERPlong	+0.0263%	8h	30.646	long leg	$94K	$5.6M	1.7x
GMX VVV/USD [ETH-USDC]	L +0.0426% / S −0.0176%	1h	30.656	+0.032%	$534K	—	100x	as long as short
Backpack VVV_USDC_PERP	+0.0428%	1h	30.647	+0.003%	$119K	$240K	5x	as long as short