Funding arb · Price arb /

VVV

all VVV markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0096%/8h= −10.5% APRpaid last 24h −0.053%

Price spread now: Kalshi against Lighter RH+0.147%7-day average −0.097% · you sell dearer than you buy

Net, funding: paid 7d − costs−$98as in the Funding arb table

Net, price: spread back to 7d avg − costs−$20as in the Price arb table

costs, in and out, $10k−$450.448% of the position

Long on Lighter RH Short on Kalshi

What this pair did over the last

the charts below follow

Funding, last 7 days−0.529%−$53 on $10k

Price spread, last 4 days (all we have)+0.024%+$2 · spread now +0.147%, 7d avg −0.097%

Together, before fees−0.505%+ Points / potential airdropLighter RH: Points live · farm board−$50 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Kalshi is 0.245% dearer against Lighter RH than usual: you sell high and buy low (spread +0.147% now, against its 7-day average of −0.097%): +$24 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 8.5 days. At the pace of the last 7 days (−0.529% in total) that is about 3.2 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter RH VVV	32.595	0.0096	pay 0.0012% / 1h	0m 33s	$487K	$1.6M	5x
Short	Kalshi KXVVVPERP	32.643	0	get 0.0000% / 8h	6h 00m	$107K	$6.9M	1.7x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kalshi against Lighter RH. 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 Lighter RHbpFee KalshibpOrdersPrice spread, now +0.147%Rate

Funding earned: −$20.16
Price spread: +0.147% → −0.097%: $24.45
Slippage, 4 orders: −$34.81
Fee Lighter RH: 0 bp × 2 orders: $0
Fee Kalshi: 5 bp × 2 orders: −$10
Net: −$40.51
Costs to cover: 0.448%
Break-even: never at this rate

Slippage from Lighter RH: live order book, 2 min ago; Kalshi: 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 RH live order book, 2 min ago	4.91 bp	11.1 bp −$11	22.4 bp −$224	doesn't fit	doesn't fit
Sell Kalshi live order book, 3 min ago	4.30 bp	14.4 bp −$14	24.7 bp −$247	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 KXVVVPERPshort	0.0000%	8h	32.643	+0.147%	$107K	$6.9M	1.7x
Deribit VVV_USDC-PERPETUAL	0.0000%	1h	32.613	+0.056%	$92K	$23K	10x	as long as short
gTrade (Gains Network) VVV/USD	L +0.0004% / S −0.0004%	1h	32.616	+0.065%	$19K	—	150x	as long as short
Injective VVV/USDC PERP	+0.0033%	1h	32.820	+0.690%	$2K	$1K	5.5x	as long as short
BloFin VVV-USDT	+0.0050%	4h	32.614	+0.058%	$1.4M	$1.8M	25x	as long as short
Phoenix VVV	+0.0077%	1h	32.454	−0.433%	$57K	$292K	5x	as long as short
RISEx VVV/USDC	+0.0078%	1h	32.457	−0.424%	$403K	$582K	5x	as long as short
Lighter VVV	+0.0096%	1h	32.603	+0.025%	$2.2M	$5.4M	5x	as long as short
Lighter RH VVVlong	+0.0096%	1h	32.595	long leg	$487K	$1.6M	5x
Nado VVV-PERP	+0.0100%	1h	32.470	−0.383%	$150K	$781K	3x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster VVVUSDT	+0.0100%	4h	32.586	−0.027%	$277K	$1.8M	10x	as long as short
Pacifica VVV	+0.0100%	1h	32.603	+0.025%	$194K	$176K	10x	as long as short
Binance VVVUSDT	+0.0100%	4h	32.492	−0.316%	$34.3M	$155.6M	25x	as long as short
Bybit VVVUSDT	+0.0100%	4h	32.424	−0.524%	$40.0M	$52.3M	20x	as long as short
OKX VVV-USDT-SWAP	+0.0100%	4h	32.473	−0.374%	$4.8M	$42.7M	20x	as long as short
Gate VVV_USDT	+0.0100%	4h	32.547	−0.147%	$11.0M	$7.8M	25x	as long as short
MEXC VVV_USDT	+0.0100%	4h	32.612	+0.052%	$17.6M	$7.0M	50x	as long as short
KuCoin VVVUSDTM	+0.0100%	4h	32.610	+0.046%	$2.1M	$2.8M	20x	as long as short
Bitget VVVUSDT	+0.0100%	4h	32.470	−0.383%	$5.9M	$8.8M	20x	as long as short
BingX VVV-USDT	+0.0100%	4h	32.515	−0.245%	—	$5.4M	—	as long as short
Variational Omni VVV	+0.0100%	4h	32.341	−0.779%	$2.1M	$180K	—	as long as short
Polymarket Perps VVV-USD	+0.0100%	1h	32.470	−0.383%	$152K	$1.2M	3x	as long as short
Derive VVV-PERP	+0.0100%	1h	32.607	+0.037%	$1K	$1K	5x	as long as short
Phemex VVVUSDT	+0.0100%	4h	32.563	−0.098%	$2.1M	$2.0M	50x	as long as short
Paradex VVV-USD-PERP	+0.0100%	8h	32.589	−0.017%	$3K	$106	5x	as long as short
Extended VVV-USD	+0.0104%	1h	32.504	−0.279%	$322K	$1.6M	5x	as long as short
Aevo VVV-PERP	+0.0104%	1h	32.617	+0.069%	$7K	$13K	3x	as long as short
edgeX VVVUSDC	+0.0107%	4h	32.571	−0.073%	$81K	$332K	10x	as long as short
GMX VVV/USD [ETH-USDC]	L +0.0191% / S +0.0095%	1h	32.617	+0.067%	$570K	—	100x	as long as short
01 Exchange VVVUSD	+0.0224%	1h	32.479	−0.356%	$12K	$3K	3x	as long as short
Coinbase International VVV-PERP-INTX	+0.0232%	1h	32.490	−0.322%	$200K	$1.1M	25x	as long as short
Hyperliquid VVV	+0.0323%	1h	32.533	−0.190%	$75.3M	$55.2M	3x	as long as short
Backpack VVV_USDC_PERP	+0.0387%	1h	32.638	+0.131%	$126K	$377K	5x	as long as short