Funding arb · Price arb /

VVV

all VVV markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.090%

Price spread now: Backpack against MEXC−0.197%7-day average +0.041% · you buy dearer than you sell

Net, funding: paid 7d − costs+$25as in the Funding arb table

Net, price: spread back to 7d avg − costs−$61as in the Price arb table

costs, in and out, $10k−$370.369% of the position

Long on MEXC Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 7 days+0.615%+$61 on $10k

Price spread, last 4 days (all we have)+0.273%+$27 · spread now −0.197%, 7d avg +0.041%

Together, before fees+0.887%+$89 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: Backpack is 0.238% cheaper against MEXC than usual: you would sell low and buy high, −$24 on $10k if it goes back to its 7-day average of +0.041%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC VVV_USDT	31.633	0.0100	pay 0.0050% / 4h	2h 53m	$6.4M	$6.8M	50x
Short	Backpack VVV_USDC_PERP	31.571	0.0100	get 0.0013% / 1h	53m 27s	$123K	$329K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against MEXC. 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 MEXCbpFee BackpackbpOrdersPrice spread, now −0.197%Rate

Funding earned: $0
Price spread: −0.197% → +0.041%: −$23.8
Slippage, 4 orders: −$26.93
Fee MEXC: 0 bp × 2 orders: $0
Fee Backpack: 5 bp × 2 orders: −$10
Net: −$60.73
Costs to cover: 0.369%
Break-even: never at this rate

Slippage from MEXC: live order book, 9 min ago; Backpack: live order book, 15 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 MEXC live order book, 9 min ago	0.47 bp	2.6 bp −$3	46.2 bp −$462	216.5 bp −$21.7K	doesn't fit
Sell Backpack live order book, 15 min ago	2.44 bp	15.1 bp −$15	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
Bybit VVVUSDT	−0.0282%	4h	31.642	+0.029%	$38.5M	$51.7M	20x	as long as short
Polymarket Perps VVV-USD	−0.0207%	1h	31.627	−0.019%	$150K	$1.2M	3x	as long as short
Gate VVV_USDT	−0.0178%	4h	31.633	0.000%	$10.6M	$7.0M	25x	as long as short
RISEx VVV/USDC	−0.0111%	1h	31.595	−0.120%	$388K	$615K	5x	as long as short
Lighter VVV	−0.0088%	1h	31.572	−0.193%	$2.1M	$5.6M	5x	as long as short
01 Exchange VVVUSD	−0.0032%	1h	31.602	−0.098%	$11K	$3K	3x	as long as short
Kalshi KXVVVPERP	0.0000%	8h	31.531	−0.322%	$116K	$6.5M	1.7x	as long as short
Phoenix VVV	0.0000%	1h	31.514	−0.376%	$54K	$289K	5x	as long as short
Deribit VVV_USDC-PERPETUAL	0.0000%	1h	31.518	−0.362%	$88K	$24K	10x	as long as short
gTrade (Gains Network) VVV/USD	L +0.0004% / S −0.0004%	1h	31.657	+0.076%	$19K	—	150x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Injective VVV/USDC PERP	+0.0033%	1h	32.820	+3.752%	$2K	$1K	5.5x	as long as short
BloFin VVV-USDT	+0.0067%	4h	31.549	−0.266%	$1.3M	$1.8M	25x	as long as short
Lighter RH VVV	+0.0096%	1h	31.577	−0.177%	$466K	$1.5M	5x	as long as short
Paradex VVV-USD-PERP	+0.0100%	8h	31.568	−0.206%	$3K	$106	5x	as long as short
Nado VVV-PERP	+0.0100%	1h	31.666	+0.103%	$124K	$850K	3x	as long as short
Hyperliquid VVV	+0.0100%	1h	31.643	+0.032%	$73.0M	$55.2M	3x	as long as short
Aster VVVUSDT	+0.0100%	4h	31.579	−0.170%	$257K	$1.9M	10x	as long as short
Pacifica VVV	+0.0100%	1h	31.601	−0.100%	$189K	$183K	10x	as long as short
Binance VVVUSDT	+0.0100%	4h	31.650	+0.052%	$33.4M	$153.6M	25x	as long as short
OKX VVV-USDT-SWAP	+0.0100%	4h	31.647	+0.044%	$4.7M	$40.8M	20x	as long as short
MEXC VVV_USDTlong	+0.0100%	4h	31.633	long leg	$6.4M	$6.8M	50x
KuCoin VVVUSDTM	+0.0100%	4h	31.569	−0.202%	$1.9M	$2.8M	20x	as long as short
Bitget VVVUSDT	+0.0100%	4h	31.636	+0.009%	$5.7M	$8.9M	20x	as long as short
BingX VVV-USDT	+0.0100%	4h	31.661	+0.089%	—	$5.4M	—	as long as short
Backpack VVV_USDC_PERPshort	+0.0100%	1h	31.571	−0.197%	$123K	$329K	5x
Variational Omni VVV	+0.0100%	4h	31.521	−0.354%	$2.1M	$190K	—	as long as short
Derive VVV-PERP	+0.0100%	1h	31.524	−0.344%	$3K	$3K	5x	as long as short
Phemex VVVUSDT	+0.0100%	4h	31.571	−0.196%	$2.0M	$2.1M	50x	as long as short
Extended VVV-USD	+0.0104%	1h	31.589	−0.138%	$299K	$2.0M	5x	as long as short
Aevo VVV-PERP	+0.0104%	1h	31.534	−0.312%	$6K	—	3x	as long as short
edgeX VVVUSDC	+0.0120%	4h	31.513	−0.379%	$78K	$334K	10x	as long as short
GMX VVV/USD [ETH-USDC]	L +0.0177% / S +0.0122%	1h	31.654	+0.066%	$573K	—	100x	as long as short
Coinbase International VVV-PERP-INTX	+0.0208%	1h	31.695	+0.197%	$243K	$1.2M	25x	as long as short