Funding arb · Price arb /

VVV

all VVV markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h −0.086%

Price spread now: Bybit against Lighter+0.092%7-day average −0.130% · you sell dearer than you buy

Net, funding: paid 7d − costs−$99as in the Funding arb table

Net, price: spread back to 7d avg − costs−$32as in the Price arb table

costs, in and out, $10k−$540.544% of the position

Long on Lighter Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.449%−$45 on $10k

Price spread, last 7 days−0.288%−$29 · spread now +0.092%, 7d avg −0.130%

Together, before fees−0.737%+ Points / potential airdropLighter: Season 3 · farm board−$74 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Bybit is 0.222% dearer against Lighter than usual: you sell high and buy low, +$22 on $10k if it goes back to its 7-day average of −0.130%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter VVV	31.441	0.0096	pay 0.0012% / 1h	35m 48s	$2.2M	$5.4M	5x
Short	Bybit VVVUSDT	31.470	0.0100	get 0.0050% / 4h	2h 35m	$38.8M	$51.7M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Lighter. 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 LighterbpFee BybitbpOrdersPrice spread, now +0.092%Rate

Funding earned: $0.84
Price spread: +0.092% → −0.130%: $22.18
Slippage, 4 orders: −$43.45
Fee Lighter: 0 bp × 2 orders: $0
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$31.43
Costs to cover: 0.544%
Break-even: 268.9 days

Slippage from Lighter: live order book, 7 min ago; Bybit: 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 Lighter live order book, 7 min ago	3.91 bp	8.0 bp −$8	35.8 bp −$358	241.3 bp −$24.1K	doesn't fit
Sell Bybit live order book, 3 min ago	1.59 bp	21.7 bp −$22	57.5 bp −$575	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
Deribit VVV_USDC-PERPETUAL	−0.0068%	1h	31.427	−0.044%	$90K	$22K	10x	as long as short
01 Exchange VVVUSD	−0.0024%	1h	31.478	+0.117%	$11K	$3K	3x	as long as short
Kalshi KXVVVPERP	0.0000%	8h	31.469	+0.088%	$117K	$6.8M	1.7x	as long as short
gTrade (Gains Network) VVV/USD	L +0.0004% / S −0.0004%	1h	31.451	+0.030%	$18K	—	150x	as long as short
Injective VVV/USDC PERP	+0.0033%	1h	32.820	+4.385%	$2K	$1K	5.5x	as long as short
Polymarket Perps VVV-USD	+0.0054%	1h	31.449	+0.025%	$134K	$1.2M	3x	as long as short
BloFin VVV-USDT	+0.0064%	4h	31.437	−0.013%	$1.3M	$1.7M	25x	as long as short
Phoenix VVV	+0.0077%	1h	31.381	−0.191%	$55K	$292K	5x	as long as short
RISEx VVV/USDC	+0.0078%	1h	31.452	+0.034%	$385K	$573K	5x	as long as short
Lighter VVVlong	+0.0096%	1h	31.441	long leg	$2.2M	$5.4M	5x

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter RH VVV	+0.0096%	1h	31.423	−0.058%	$464K	$1.6M	5x	as long as short
Nado VVV-PERP	+0.0100%	1h	31.449	+0.026%	$144K	$781K	3x	as long as short
Hyperliquid VVV	+0.0100%	1h	31.476	+0.111%	$71.8M	$54.1M	3x	as long as short
Aster VVVUSDT	+0.0100%	4h	31.460	+0.060%	$276K	$1.8M	10x	as long as short
Pacifica VVV	+0.0100%	1h	31.469	+0.088%	$187K	$176K	10x	as long as short
Binance VVVUSDT	+0.0100%	4h	31.478	+0.118%	$33.3M	$154.3M	25x	as long as short
Bybit VVVUSDTshort	+0.0100%	4h	31.470	+0.092%	$38.8M	$51.7M	20x
OKX VVV-USDT-SWAP	+0.0100%	4h	31.478	+0.117%	$4.7M	$41.0M	20x	as long as short
Gate VVV_USDT	+0.0100%	4h	31.474	+0.104%	$10.6M	$7.7M	25x	as long as short
MEXC VVV_USDT	+0.0100%	4h	31.480	+0.123%	$16.9M	$6.9M	50x	as long as short
KuCoin VVVUSDTM	+0.0100%	4h	31.464	+0.073%	$2.3M	$2.6M	20x	as long as short
Bitget VVVUSDT	+0.0100%	4h	31.460	+0.060%	$5.7M	$8.6M	20x	as long as short
BingX VVV-USDT	+0.0100%	4h	31.482	+0.130%	—	$5.4M	—	as long as short
Variational Omni VVV	+0.0100%	4h	31.327	−0.363%	$2.1M	$184K	—	as long as short
Derive VVV-PERP	+0.0100%	1h	31.444	+0.009%	$1K	$1K	5x	as long as short
Phemex VVVUSDT	+0.0100%	4h	31.408	−0.106%	$2.1M	$2.0M	50x	as long as short
Paradex VVV-USD-PERP	+0.0100%	8h	31.450	+0.029%	$3K	$106	5x	as long as short
Extended VVV-USD	+0.0104%	1h	31.469	+0.087%	$314K	$1.6M	5x	as long as short
Aevo VVV-PERP	+0.0104%	1h	31.464	+0.073%	$6K	$13K	3x	as long as short
edgeX VVVUSDC	+0.0114%	4h	31.380	−0.194%	$78K	$330K	10x	as long as short
Backpack VVV_USDC_PERP	+0.0194%	1h	31.463	+0.069%	$119K	$379K	5x	as long as short
Coinbase International VVV-PERP-INTX	+0.0232%	1h	31.480	+0.125%	$188K	$1.2M	25x	as long as short
GMX VVV/USD [ETH-USDC]	L +0.0443% / S −0.0195%	1h	31.447	+0.020%	$538K	—	100x	as long as short