Funding arb · Price arb /

VVV

all VVV markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h −0.015%

Price spread now: Derive against Kalshi−0.100%7-day average — · you buy dearer than you sell

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

Long on Kalshi Short on Derive

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. Derive is 0.100% cheaper against Kalshi than usual: you would sell low and buy high (spread −0.100% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$10 on $10k: about 3.3 days of funding at the current rate (+$3 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kalshi KXVVVPERP	31.974	0	get 0.0000% / 8h	3h 10m	$114K	$6.5M	1.7x
Short	Derive VVV-PERP	31.942	0.0100	get 0.0013% / 1h	10m 27s	$3K	$2K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Derive 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 DerivebpOrdersPrice spread, now −0.100%Rate

Funding earned: $21
Price spread: −0.100% → 0.000%: −$9.97
Slippage, 4 orders: no order book: not counted
Fee Kalshi: 5 bp × 2 orders: −$10
Fee Derive: 3 bp × 2 orders: −$6
Net: −$4.97
Costs to cover: 0.160%
Break-even: 8.7 days

Slippage unknown: Kalshi: live order book, 3 min ago; Derive: no order-book sample. 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 Kalshi live order book, 3 min ago	4.71 bp	20.3 bp −$20	31.1 bp −$311	doesn't fit	doesn't fit
Sell Derive no order-book sample	—	—	—	—	—

Derive: 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
Polymarket Perps VVV-USD	−0.0233%	1h	31.924	−0.156%	$160K	$1.2M	3x	as long as short
Bybit VVVUSDT	−0.0106%	4h	31.941	−0.102%	$39.1M	$51.6M	20x	as long as short
Gate VVV_USDT	−0.0106%	4h	31.950	−0.075%	$10.7M	$7.4M	25x	as long as short
RISEx VVV/USDC	−0.0015%	1h	31.947	−0.084%	$393K	$602K	5x	as long as short
01 Exchange VVVUSD	−0.0008%	1h	31.973	−0.003%	$11K	$3K	3x	as long as short
Kalshi KXVVVPERPlong	0.0000%	8h	31.974	long leg	$114K	$6.5M	1.7x
Phoenix VVV	0.0000%	1h	31.867	−0.335%	$56K	$298K	5x	as long as short
Deribit VVV_USDC-PERPETUAL	0.0000%	1h	31.946	−0.086%	$89K	$24K	10x	as long as short
gTrade (Gains Network) VVV/USD	L +0.0004% / S −0.0004%	1h	31.947	−0.084%	$19K	—	150x	as long as short
Injective VVV/USDC PERP	+0.0033%	1h	32.820	+2.646%	$2K	$1K	5.5x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter VVV	+0.0096%	1h	31.960	−0.045%	$2.2M	$5.9M	5x	as long as short
Lighter RH VVV	+0.0096%	1h	31.947	−0.084%	$473K	$1.6M	5x	as long as short
Nado VVV-PERP	+0.0100%	1h	31.950	−0.075%	$125K	$850K	3x	as long as short
Hyperliquid VVV	+0.0100%	1h	31.960	−0.044%	$74.2M	$55.1M	3x	as long as short
Aster VVVUSDT	+0.0100%	4h	31.959	−0.047%	$260K	$1.9M	10x	as long as short
Pacifica VVV	+0.0100%	1h	31.986	+0.037%	$191K	$183K	10x	as long as short
Binance VVVUSDT	+0.0100%	4h	31.962	−0.039%	$33.6M	$154.2M	25x	as long as short
OKX VVV-USDT-SWAP	+0.0100%	4h	31.941	−0.103%	$4.7M	$41.4M	20x	as long as short
MEXC VVV_USDT	+0.0100%	4h	31.964	−0.031%	$6.5M	$7.0M	50x	as long as short
KuCoin VVVUSDTM	+0.0100%	4h	31.953	−0.066%	$2.0M	$2.8M	20x	as long as short
Bitget VVVUSDT	+0.0100%	4h	31.957	−0.053%	$5.8M	$8.9M	20x	as long as short
BingX VVV-USDT	+0.0100%	4h	31.956	−0.056%	—	$5.4M	—	as long as short
Backpack VVV_USDC_PERP	+0.0100%	1h	31.983	+0.027%	$123K	$334K	5x	as long as short
Variational Omni VVV	+0.0100%	4h	31.923	−0.159%	$2.1M	$190K	—	as long as short
Derive VVV-PERPshort	+0.0100%	1h	31.942	−0.100%	$3K	$2K	5x
Phemex VVVUSDT	+0.0100%	4h	31.973	−0.003%	$2.1M	$2.1M	50x	as long as short
Paradex VVV-USD-PERP	+0.0100%	8h	31.964	−0.031%	$3K	$106	5x	as long as short
edgeX VVVUSDC	+0.0102%	4h	31.936	−0.117%	$79K	$336K	10x	as long as short
Extended VVV-USD	+0.0104%	1h	31.952	−0.068%	$304K	$2.0M	5x	as long as short
Aevo VVV-PERP	+0.0104%	1h	31.955	−0.059%	$6K	—	3x	as long as short
BloFin VVV-USDT	+0.0148%	4h	31.951	−0.072%	$1.3M	$1.8M	25x	as long as short
GMX VVV/USD [ETH-USDC]	L +0.0178% / S +0.0121%	1h	31.947	−0.086%	$578K	—	100x	as long as short
Coinbase International VVV-PERP-INTX	+0.0320%	1h	31.903	−0.223%	$245K	$1.2M	25x	as long as short