Funding arb · Price arb /

VVV

all VVV markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0073%/8h= +8.0% APRpaid last 24h +0.112%

Price spread now: Backpack against OKX+0.097%7-day average +0.086% · you sell dearer than you buy

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

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

costs, in and out, $10k−$620.617% of the position

Long on OKX Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 7 days+0.690%+$69 on $10k

Price spread, last 4 days (all we have)−0.213%−$21 · spread now +0.097%, 7d avg +0.086%

Together, before fees+0.478%+$48 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.086%, so right now this pair is about funding alone: +$2 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX VVV-USDT-SWAP	31.368	0.0100	pay 0.0050% / 4h	2h 39m	$4.7M	$40.9M	20x
Short	Backpack VVV_USDC_PERP	31.398	0.0173	get 0.0022% / 1h	39m 28s	$118K	$379K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against OKX. 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 OKXbpFee BackpackbpOrdersPrice spread, now +0.097%Rate

Funding earned: $15.42
Price spread: +0.097% → +0.086%: $1.08
Slippage, 4 orders: −$41.66
Fee OKX: 5 bp × 2 orders: −$10
Fee Backpack: 5 bp × 2 orders: −$10
Net: −$45.15
Costs to cover: 0.617%
Break-even: 27.5 days

Slippage from OKX: live order book, 4 min ago; Backpack: live order book, 49 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 OKX live order book, 4 min ago	1.60 bp	13.6 bp −$14	71.3 bp −$713	doesn't fit	doesn't fit
Sell Backpack live order book, 49 min ago	3.00 bp	11.3 bp −$11	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
Deribit VVV_USDC-PERPETUAL	−0.0072%	1h	31.367	−0.004%	$90K	$22K	10x	as long as short
01 Exchange VVVUSD	−0.0048%	1h	31.366	−0.006%	$11K	$3K	3x	as long as short
Kalshi KXVVVPERP	0.0000%	8h	31.367	−0.003%	$117K	$6.8M	1.7x	as long as short
gTrade (Gains Network) VVV/USD	L +0.0004% / S −0.0004%	1h	31.376	+0.024%	$18K	—	150x	as long as short
Injective VVV/USDC PERP	+0.0033%	1h	32.820	+4.629%	$2K	$1K	5.5x	as long as short
BloFin VVV-USDT	+0.0058%	4h	31.347	−0.067%	$1.3M	$1.7M	25x	as long as short
Polymarket Perps VVV-USD	+0.0059%	1h	31.345	−0.073%	$134K	$1.2M	3x	as long as short
Phoenix VVV	+0.0077%	1h	31.382	+0.045%	$55K	$292K	5x	as long as short
RISEx VVV/USDC	+0.0078%	1h	31.359	−0.029%	$384K	$572K	5x	as long as short
Lighter VVV	+0.0096%	1h	31.373	+0.015%	$2.2M	$5.4M	5x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter RH VVV	+0.0096%	1h	31.355	−0.041%	$462K	$1.6M	5x	as long as short
Nado VVV-PERP	+0.0100%	1h	31.370	+0.008%	$144K	$781K	3x	as long as short
Hyperliquid VVV	+0.0100%	1h	31.410	+0.134%	$71.6M	$54.1M	3x	as long as short
Aster VVVUSDT	+0.0100%	4h	31.370	+0.007%	$275K	$1.8M	10x	as long as short
Pacifica VVV	+0.0100%	1h	31.377	+0.029%	$186K	$176K	10x	as long as short
Binance VVVUSDT	+0.0100%	4h	31.373	+0.016%	$33.2M	$154.3M	25x	as long as short
Bybit VVVUSDT	+0.0100%	4h	31.357	−0.034%	$38.6M	$51.7M	20x	as long as short
OKX VVV-USDT-SWAPlong	+0.0100%	4h	31.368	long leg	$4.7M	$40.9M	20x
Gate VVV_USDT	+0.0100%	4h	31.354	−0.045%	$10.6M	$7.7M	25x	as long as short
MEXC VVV_USDT	+0.0100%	4h	31.373	+0.016%	$16.8M	$6.9M	50x	as long as short
KuCoin VVVUSDTM	+0.0100%	4h	31.332	−0.115%	$2.3M	$2.6M	20x	as long as short
Bitget VVVUSDT	+0.0100%	4h	31.341	−0.086%	$5.7M	$8.6M	20x	as long as short
BingX VVV-USDT	+0.0100%	4h	31.352	−0.051%	—	$5.4M	—	as long as short
Variational Omni VVV	+0.0100%	4h	31.327	−0.130%	$2.1M	$184K	—	as long as short
Derive VVV-PERP	+0.0100%	1h	31.371	+0.011%	$1K	$1K	5x	as long as short
Phemex VVVUSDT	+0.0100%	4h	31.368	0.000%	$2.1M	$2.0M	50x	as long as short
Paradex VVV-USD-PERP	+0.0100%	8h	31.354	−0.044%	$3K	$106	5x	as long as short
Extended VVV-USD	+0.0104%	1h	31.359	−0.030%	$312K	$1.6M	5x	as long as short
Aevo VVV-PERP	+0.0104%	1h	31.367	−0.003%	$6K	$13K	3x	as long as short
edgeX VVVUSDC	+0.0114%	4h	31.349	−0.060%	$78K	$330K	10x	as long as short
Backpack VVV_USDC_PERPshort	+0.0173%	1h	31.398	+0.097%	$118K	$379K	5x
Coinbase International VVV-PERP-INTX	+0.0232%	1h	31.407	+0.123%	$183K	$1.2M	25x	as long as short
GMX VVV/USD [ETH-USDC]	L +0.0442% / S −0.0195%	1h	31.370	+0.007%	$536K	—	100x	as long as short