Funding arb · Price arb /

VVV

all VVV markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0026%/8h= +2.8% APRpaid last 24h −0.046%

Price spread now: Kalshi against Lighter+0.155%7-day average −0.064% · you sell dearer than you buy

Net, funding: paid 7d − costs−$87as in the Funding arb table

Net, price: spread back to 7d avg − costs−$30as in the Price arb table

costs, in and out, $10k−$520.522% of the position

Long on Lighter Short on Kalshi

What this pair did over the last

the charts below follow

Funding, last 7 days−0.347%−$35 on $10k

Price spread, last 7 days−0.254%−$25 · spread now +0.155%, 7d avg −0.064%

Together, before fees−0.601%+ Points / potential airdropLighter: Season 3 · farm board−$60 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and Kalshi is 0.218% dearer against Lighter than usual: you sell high and buy low: +$22 more if the spread goes back to its 7-day average of −0.064%. Mind the row above: over the last 7 days funding on this pair cost −0.347%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter VVV	31.193	0.0096	pay 0.0012% / 1h	57m 14s	$2.0M	$4.5M	5x
Short	Kalshi KXVVVPERP	31.241	0.0122	get 0.0122% / 8h	5h 57m	$96K	$5.5M	1.7x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kalshi 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 KalshibpOrdersPrice spread, now +0.155%Rate

Funding earned: $5.46
Price spread: +0.155% → −0.064%: $21.85
Slippage, 4 orders: −$42.18
Fee Lighter: 0 bp × 2 orders: $0
Fee Kalshi: 5 bp × 2 orders: −$10
Net: −$24.88
Costs to cover: 0.522%
Break-even: 38.9 days

Slippage from Lighter: live order book, 6 min ago; Kalshi: live order book, 1 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, 6 min ago	10.64 bp	13.2 bp −$13	37.3 bp −$373	doesn't fit	doesn't fit
Sell Kalshi live order book, 1 min ago	6.24 bp	12.1 bp −$12	18.7 bp −$187	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
Coinbase International VVV-PERP-INTX	−0.0088%	1h	31.204	+0.037%	$189K	$1.3M	25x	as long as short
RISEx VVV/USDC	−0.0085%	1h	31.182	−0.036%	$382K	$648K	5x	as long as short
Deribit VVV_USDC-PERPETUAL	0.0000%	1h	31.204	+0.037%	$87K	$22K	10x	as long as short
gTrade (Gains Network) VVV/USD	L +0.0004% / S −0.0002%	1h	31.226	+0.106%	$22K	—	150x	as long as short
Injective VVV/USDC PERP	+0.0033%	1h	32.820	+5.217%	$2K	$1K	5.5x	as long as short
01 Exchange VVVUSD	+0.0048%	1h	31.200	+0.023%	$11K	$3K	3x	as long as short
BloFin VVV-USDT	+0.0056%	4h	31.235	+0.136%	$1.3M	$1.5M	25x	as long as short
Lighter VVVlong	+0.0096%	1h	31.193	long leg	$2.0M	$4.5M	5x
Lighter RH VVV	+0.0096%	1h	31.213	+0.065%	$458K	$1.6M	5x	as long as short
Paradex VVV-USD-PERP	+0.0100%	8h	31.238	+0.144%	$3K	$73	5x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado VVV-PERP	+0.0100%	1h	31.211	+0.059%	$162K	$897K	3x	as long as short
Hyperliquid VVV	+0.0100%	1h	31.240	+0.152%	$70.2M	$48.0M	3x	as long as short
Aster VVVUSDT	+0.0100%	4h	31.244	+0.165%	$249K	$1.0M	10x	as long as short
Pacifica VVV	+0.0100%	1h	31.249	+0.181%	$184K	$128K	10x	as long as short
Binance VVVUSDT	+0.0100%	4h	31.239	+0.150%	$33.7M	$121.4M	25x	as long as short
Bybit VVVUSDT	+0.0100%	4h	31.205	+0.039%	$38.5M	$41.5M	20x	as long as short
OKX VVV-USDT-SWAP	+0.0100%	4h	31.204	+0.036%	$4.9M	$30.9M	20x	as long as short
Gate VVV_USDT	+0.0100%	4h	31.210	+0.055%	$11.0M	$5.4M	25x	as long as short
MEXC VVV_USDT	+0.0100%	4h	31.236	+0.139%	$6.6M	$5.6M	50x	as long as short
KuCoin VVVUSDTM	+0.0100%	4h	31.243	+0.161%	$1.8M	$2.8M	20x	as long as short
Bitget VVVUSDT	+0.0100%	4h	31.205	+0.039%	$5.7M	$7.1M	20x	as long as short
BingX VVV-USDT	+0.0100%	4h	31.215	+0.071%	—	$4.9M	—	as long as short
Variational Omni VVV	+0.0100%	4h	31.291	+0.316%	$2.0M	$355K	—	as long as short
Polymarket Perps VVV-USD	+0.0100%	1h	31.196	+0.011%	$121K	$1.4M	3x	as long as short
Derive VVV-PERP	+0.0100%	1h	31.203	+0.034%	$3K	$3K	5x	as long as short
Phemex VVVUSDT	+0.0100%	4h	31.233	+0.129%	$2.0M	$2.1M	50x	as long as short
Extended VVV-USD	+0.0104%	1h	31.206	+0.044%	$298K	$2.2M	5x	as long as short
Aevo VVV-PERP	+0.0104%	1h	31.224	+0.099%	$6K	—	3x	as long as short
edgeX VVVUSDC	+0.0116%	4h	31.281	+0.282%	$78K	$331K	10x	as long as short
Kalshi KXVVVPERPshort	+0.0122%	8h	31.241	+0.155%	$96K	$5.5M	1.7x
Phoenix VVV	+0.0209%	1h	31.283	+0.289%	$33K	$232K	5x	as long as short
GMX VVV/USD [ETH-USDC]	L +0.0425% / S −0.0199%	1h	31.204	+0.036%	$499K	—	100x	as long as short
Backpack VVV_USDC_PERP	+0.0502%	1h	31.251	+0.188%	$149K	$264K	5x	as long as short