Funding arb · Price arb /

VVV

all VVV markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0059%/8h= +6.5% APRpaid last 24h +0.115%

Price spread now: Backpack against KuCoin+0.129%7-day average +0.100% · you sell dearer than you buy

Net, funding: paid 7d − costs−$43as in the Funding arb table

Net, price: spread back to 7d avg − costs−$109as in the Price arb table

costs, in and out, $10k−$1121.119% of the position

Long on KuCoin Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 7 days+0.686%+$69 on $10k

Price spread, last 4 days (all we have)−0.029%−$3 · spread now +0.129%, 7d avg +0.100%

Together, before fees+0.657%+$66 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and Backpack is 0.029% dearer against KuCoin than usual: you sell high and buy low: +$3 more if the spread goes back to its 7-day average of +0.100%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin VVVUSDTM	32.200	0.0100	pay 0.0050% / 4h	56m 07s	$2.0M	$2.8M	20x
Short	Backpack VVV_USDC_PERP	32.242	0.0159	get 0.0020% / 1h	56m 07s	$122K	$361K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against KuCoin. 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 KuCoinbpFee BackpackbpOrdersPrice spread, now +0.129%Rate

Funding earned: $12.49
Price spread: +0.129% → +0.100%: $2.89
Slippage, 4 orders: −$89.93
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Backpack: 5 bp × 2 orders: −$10
Net: −$96.55
Costs to cover: 1.119%
Break-even: 61.1 days

Slippage from KuCoin: live order book, 11 min ago; Backpack: live order book, 23 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 KuCoin live order book, 11 min ago	10.71 bp	31.5 bp −$31	843.6 bp −$8,436	doesn't fit	doesn't fit
Sell Backpack live order book, 23 min ago	2.36 bp	14.0 bp −$14	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
Kalshi KXVVVPERP	0.0000%	8h	32.159	−0.127%	$113K	$6.9M	1.7x	as long as short
Deribit VVV_USDC-PERPETUAL	0.0000%	1h	32.220	+0.063%	$91K	$23K	10x	as long as short
gTrade (Gains Network) VVV/USD	L +0.0004% / S −0.0004%	1h	32.203	+0.008%	$19K	—	150x	as long as short
Polymarket Perps VVV-USD	+0.0009%	1h	32.174	−0.081%	$146K	$1.2M	3x	as long as short
Injective VVV/USDC PERP	+0.0033%	1h	32.820	+1.925%	$2K	$1K	5.5x	as long as short
RISEx VVV/USDC	+0.0040%	1h	32.198	−0.006%	$395K	$605K	5x	as long as short
01 Exchange VVVUSD	+0.0088%	1h	32.191	−0.028%	$12K	$3K	3x	as long as short
Lighter VVV	+0.0096%	1h	32.233	+0.102%	$2.3M	$5.5M	5x	as long as short
Lighter RH VVV	+0.0096%	1h	32.202	+0.006%	$478K	$1.6M	5x	as long as short
BloFin VVV-USDT	+0.0098%	4h	32.195	−0.016%	$1.3M	$1.8M	25x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phoenix VVV	+0.0098%	1h	32.054	−0.453%	$56K	$299K	5x	as long as short
Nado VVV-PERP	+0.0100%	1h	32.204	+0.014%	$125K	$796K	3x	as long as short
Hyperliquid VVV	+0.0100%	1h	32.240	+0.124%	$74.6M	$56.0M	3x	as long as short
Aster VVVUSDT	+0.0100%	4h	32.221	+0.066%	$265K	$1.9M	10x	as long as short
Pacifica VVV	+0.0100%	1h	32.189	−0.035%	$192K	$191K	10x	as long as short
Binance VVVUSDT	+0.0100%	4h	32.220	+0.061%	$33.7M	$157.1M	25x	as long as short
Bybit VVVUSDT	+0.0100%	4h	32.206	+0.018%	$39.5M	$52.6M	20x	as long as short
OKX VVV-USDT-SWAP	+0.0100%	4h	32.210	+0.031%	$4.7M	$42.8M	20x	as long as short
Gate VVV_USDT	+0.0100%	4h	32.221	+0.065%	$10.8M	$7.5M	25x	as long as short
MEXC VVV_USDT	+0.0100%	4h	32.220	+0.062%	$6.3M	$7.0M	50x	as long as short
KuCoin VVVUSDTMlong	+0.0100%	4h	32.200	long leg	$2.0M	$2.8M	20x
Bitget VVVUSDT	+0.0100%	4h	32.205	+0.016%	$5.9M	$8.9M	20x	as long as short
BingX VVV-USDT	+0.0100%	4h	32.225	+0.078%	—	$5.5M	—	as long as short
Variational Omni VVV	+0.0100%	4h	32.134	−0.204%	$2.1M	$183K	—	as long as short
Derive VVV-PERP	+0.0100%	1h	32.214	+0.043%	$1K	$1K	5x	as long as short
Phemex VVVUSDT	+0.0100%	4h	32.216	+0.050%	$2.1M	$2.1M	50x	as long as short
Paradex VVV-USD-PERP	+0.0100%	8h	32.175	−0.076%	$3K	$106	5x	as long as short
Extended VVV-USD	+0.0104%	1h	32.208	+0.025%	$323K	$1.6M	5x	as long as short
Aevo VVV-PERP	+0.0104%	1h	32.201	+0.004%	$6K	$13K	3x	as long as short
edgeX VVVUSDC	+0.0114%	4h	32.042	−0.490%	$80K	$332K	10x	as long as short
Backpack VVV_USDC_PERPshort	+0.0159%	1h	32.242	+0.129%	$122K	$361K	5x
GMX VVV/USD [ETH-USDC]	L +0.0184% / S +0.0170%	1h	32.192	−0.024%	$619K	—	100x	as long as short
Coinbase International VVV-PERP-INTX	+0.0192%	1h	32.193	−0.021%	$242K	$1.4M	25x	as long as short