Funding arb · Price arb /

VVV

all VVV markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0096%/8h= +10.5% APRpaid last 24h +0.069%

Price spread now: Lighter against Kalshi+0.084%7-day average +0.066% · you sell dearer than you buy

Net, funding: paid 7d − costs−$19as in the Funding arb table

Net, price: spread back to 7d avg − costs−$55as in the Price arb table

costs, in and out, $10k−$560.564% of the position

Long on Kalshi Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.369%+$37 on $10k

Price spread, last 7 days+0.126%+$13 · spread now +0.084%, 7d avg +0.066%

Together, before fees+0.495%+ Points / potential airdropLighter: Season 3 · farm board+$50 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.066%, so right now this pair is about funding alone: +$3 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kalshi KXVVVPERP	32.064	0	get 0.0000% / 8h	5h 19m	$106K	$6.9M	1.7x
Short	Lighter VVV	32.091	0.0096	get 0.0012% / 1h	19m 43s	$2.3M	$5.5M	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter 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 LighterbpOrdersPrice spread, now +0.084%Rate

Funding earned: $20.16
Price spread: +0.084% → +0.066%: $1.78
Slippage, 4 orders: −$46.36
Fee Kalshi: 5 bp × 2 orders: −$10
Fee Lighter: 0 bp × 2 orders: $0
Net: −$34.42
Costs to cover: 0.564%
Break-even: 19.0 days

Slippage from Kalshi: live order book, 4 min ago; Lighter: 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, 4 min ago	4.51 bp	18.8 bp −$19	31.0 bp −$310	doesn't fit	doesn't fit
Sell Lighter live order book, 3 min ago	3.51 bp	11.3 bp −$11	36.0 bp −$360	656.5 bp −$65.6K	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
Kalshi KXVVVPERPlong	0.0000%	8h	32.064	long leg	$106K	$6.9M	1.7x
Deribit VVV_USDC-PERPETUAL	0.0000%	1h	32.056	−0.023%	$91K	$23K	10x	as long as short
gTrade (Gains Network) VVV/USD	L +0.0004% / S −0.0004%	1h	32.070	+0.017%	$19K	—	150x	as long as short
Injective VVV/USDC PERP	+0.0033%	1h	32.820	+2.358%	$2K	$1K	5.5x	as long as short
BloFin VVV-USDT	+0.0095%	4h	32.096	+0.100%	$1.4M	$1.8M	25x	as long as short
Lighter VVVshort	+0.0096%	1h	32.091	+0.084%	$2.3M	$5.5M	5x
Lighter RH VVV	+0.0096%	1h	32.090	+0.081%	$477K	$1.6M	5x	as long as short
Phoenix VVV	+0.0098%	1h	32.033	−0.097%	$56K	$294K	5x	as long as short
Nado VVV-PERP	+0.0100%	1h	32.028	−0.114%	$148K	$783K	3x	as long as short
Aster VVVUSDT	+0.0100%	4h	32.108	+0.136%	$264K	$1.9M	10x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica VVV	+0.0100%	1h	32.119	+0.172%	$184K	$183K	10x	as long as short
Binance VVVUSDT	+0.0100%	4h	32.086	+0.069%	$33.5M	$157.6M	25x	as long as short
Bybit VVVUSDT	+0.0100%	4h	32.082	+0.056%	$39.5M	$52.8M	20x	as long as short
OKX VVV-USDT-SWAP	+0.0100%	4h	32.081	+0.053%	$4.7M	$42.6M	20x	as long as short
Gate VVV_USDT	+0.0100%	4h	32.111	+0.147%	$10.8M	$7.8M	25x	as long as short
MEXC VVV_USDT	+0.0100%	4h	32.099	+0.109%	$6.3M	$7.1M	50x	as long as short
KuCoin VVVUSDTM	+0.0100%	4h	32.091	+0.084%	$2.0M	$2.9M	20x	as long as short
Bitget VVVUSDT	+0.0100%	4h	32.088	+0.075%	$5.8M	$8.9M	20x	as long as short
BingX VVV-USDT	+0.0100%	4h	32.103	+0.122%	—	$5.5M	—	as long as short
Variational Omni VVV	+0.0100%	4h	32.091	+0.084%	$2.1M	$183K	—	as long as short
Polymarket Perps VVV-USD	+0.0100%	1h	32.022	−0.131%	$138K	$1.2M	3x	as long as short
Derive VVV-PERP	+0.0100%	1h	32.057	−0.023%	$1K	$1K	5x	as long as short
Phemex VVVUSDT	+0.0100%	4h	32.080	+0.050%	$2.1M	$2.1M	50x	as long as short
Paradex VVV-USD-PERP	+0.0100%	8h	32.094	+0.095%	$3K	$106	5x	as long as short
Extended VVV-USD	+0.0104%	1h	32.093	+0.090%	$317K	$1.6M	5x	as long as short
Aevo VVV-PERP	+0.0104%	1h	32.075	+0.034%	$6K	$13K	3x	as long as short
edgeX VVVUSDC	+0.0113%	4h	32.073	+0.028%	$80K	$332K	10x	as long as short
Coinbase International VVV-PERP-INTX	+0.0144%	1h	32.185	+0.378%	$226K	$1.3M	25x	as long as short
RISEx VVV/USDC	+0.0175%	1h	32.036	−0.086%	$393K	$598K	5x	as long as short
GMX VVV/USD [ETH-USDC]	L +0.0187% / S +0.0167%	1h	32.066	+0.005%	$616K	—	100x	as long as short
Backpack VVV_USDC_PERP	+0.0224%	1h	32.105	+0.128%	$121K	$375K	5x	as long as short
Hyperliquid VVV	+0.0354%	1h	32.132	+0.212%	$74.6M	$56.1M	3x	as long as short
01 Exchange VVVUSD	+0.0368%	1h	32.041	−0.072%	$11K	$3K	3x	as long as short