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 +0.099%

Price spread now: Hyperliquid against Kalshi−0.153%46s7-day average +0.071% · you buy dearer than you sell

Net, funding: paid 7d − costs−$38as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$580.580% of the position

Long on Kalshi Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days+0.201%+$20 on $10k

Price spread, last 7 days+0.152%+$15 · spread now −0.153%, 7d avg +0.071%

Together, before fees+0.353%+ Points / potential airdropHyperliquid: Season 2 · farm board+$35 on $10k · with fees, hour by hour

Funding pays, the price is against you. Hyperliquid is 0.224% cheaper against Kalshi than usual: you would sell low and buy high (spread −0.153% now, against its 7-day average of +0.071%). If the spread goes back, that is −$22 on $10k: about 7.5 days of funding at the current rate (+$3 a day). The two prices were read 46 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kalshi KXVVVPERP	32.012	0	get 0.0000% / 8h	3h 15m	$111K	$6.5M	1.7x
Short	Hyperliquid VVV	31.963	0.0100	get 0.0013% / 1h	15m 34s	$74.2M	$55.1M	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid 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 HyperliquidbpOrdersPrice spread, now −0.153%Rate

Funding earned: $21
Price spread: −0.153% → +0.071%: −$22.36
Slippage, 4 orders: −$38.96
Fee Kalshi: 5 bp × 2 orders: −$10
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$59.32
Costs to cover: 0.580%
Break-even: 26.8 days

Slippage from Kalshi: live order book, 3 min ago; Hyperliquid: live order book, 8 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	9.71 bp	15.5 bp −$16	24.3 bp −$243	doesn't fit	doesn't fit
Sell Hyperliquid live order book, 8 min ago	0.93 bp	9.5 bp −$9	doesn't fit	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
Polymarket Perps VVV-USD	−0.0249%	1h	31.917	−0.297%	$145K	$1.2M	3x	as long as short
Deribit VVV_USDC-PERPETUAL	−0.0166%	1h	31.926	−0.268%	$90K	$23K	10x	as long as short
Gate VVV_USDT	−0.0084%	4h	31.927	−0.266%	$10.7M	$7.4M	25x	as long as short
Bybit VVVUSDT	−0.0065%	4h	31.938	−0.233%	$39.1M	$51.6M	20x	as long as short
01 Exchange VVVUSD	−0.0016%	1h	31.907	−0.328%	$11K	$3K	3x	as long as short
RISEx VVV/USDC	−0.0015%	1h	31.911	−0.315%	$392K	$602K	5x	as long as short
Kalshi KXVVVPERPlong	0.0000%	8h	32.012	long leg	$111K	$6.5M	1.7x
Phoenix VVV	0.0000%	1h	31.896	−0.362%	$56K	$298K	5x	as long as short
gTrade (Gains Network) VVV/USD	L +0.0004% / S −0.0004%	1h	31.950	−0.195%	$19K	—	150x	as long as short
Injective VVV/USDC PERP	+0.0033%	1h	32.820	+2.524%	$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	31.923	−0.278%	$2.2M	$5.9M	5x	as long as short
Lighter RH VVV	+0.0096%	1h	31.917	−0.297%	$472K	$1.6M	5x	as long as short
Nado VVV-PERP	+0.0100%	1h	31.923	−0.276%	$125K	$850K	3x	as long as short
Hyperliquid VVVshort	+0.0100%	1h	31.963	−0.153%	$74.2M	$55.1M	3x
Aster VVVUSDT	+0.0100%	4h	31.967	−0.141%	$260K	$1.9M	10x	as long as short
Pacifica VVV	+0.0100%	1h	31.983	−0.092%	$191K	$183K	10x	as long as short
Binance VVVUSDT	+0.0100%	4h	31.944	−0.211%	$33.6M	$154.3M	25x	as long as short
OKX VVV-USDT-SWAP	+0.0100%	4h	31.956	−0.175%	$4.7M	$41.5M	20x	as long as short
MEXC VVV_USDT	+0.0100%	4h	31.940	−0.225%	$6.5M	$7.0M	50x	as long as short
KuCoin VVVUSDTM	+0.0100%	4h	31.933	−0.247%	$2.0M	$2.8M	20x	as long as short
Bitget VVVUSDT	+0.0100%	4h	31.918	−0.294%	$5.7M	$8.9M	20x	as long as short
BingX VVV-USDT	+0.0100%	4h	31.948	−0.200%	—	$5.4M	—	as long as short
Backpack VVV_USDC_PERP	+0.0100%	1h	31.975	−0.116%	$123K	$333K	5x	as long as short
Variational Omni VVV	+0.0100%	4h	31.900	−0.351%	$2.1M	$190K	—	as long as short
Derive VVV-PERP	+0.0100%	1h	31.934	−0.245%	$3K	$2K	5x	as long as short
Phemex VVVUSDT	+0.0100%	4h	31.987	−0.078%	$2.1M	$2.1M	50x	as long as short
Paradex VVV-USD-PERP	+0.0100%	8h	31.921	−0.286%	$3K	$106	5x	as long as short
edgeX VVVUSDC	+0.0101%	4h	31.928	−0.261%	$79K	$335K	10x	as long as short
Extended VVV-USD	+0.0104%	1h	31.917	−0.296%	$304K	$2.0M	5x	as long as short
Aevo VVV-PERP	+0.0104%	1h	31.955	−0.177%	$6K	—	3x	as long as short
BloFin VVV-USDT	+0.0129%	4h	31.965	−0.147%	$1.3M	$1.8M	25x	as long as short
GMX VVV/USD [ETH-USDC]	L +0.0178% / S +0.0121%	1h	31.948	−0.199%	$577K	—	100x	as long as short
Coinbase International VVV-PERP-INTX	+0.0320%	1h	32.090	+0.245%	$247K	$1.3M	25x	as long as short