VVV

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0205%/8h= +22.4% APRnext payment +$0.26 per $10,000 · paid last 24h +0.115%

Price spread now: Backpack against Polymarket Perps−0.011%7-day average +0.087% · you buy dearer than you sell

Net, funding: paid 7d − costs+$34as in the Funding arb table

Net, price: spread back to 7d avg − costs−$54as in the Price arb table

costs, in and out, $10k−$440.444% of the position

Long on Polymarket Perps Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 7 days+0.788%+$79 on $10k

Price spread, last 3 days (all we have)−0.201%−$20 · spread now −0.011%, 7d avg +0.087%

Together, before fees+0.588%+$59 on $10k · with fees, hour by hour

Funding pays, the price is against you. Backpack is 0.098% cheaper against Polymarket Perps than usual: you would sell low and buy high (spread −0.011% now, against its 7-day average of +0.087%). If the spread goes back, that is −$10 on $10k: about 38 hours of funding at the current rate (+$6 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Polymarket Perps VVV-USD	32.275	0.0100	pay 0.0013% / 1h	12m 54s	$145K	$1.2M	3x
Short	Backpack VVV_USDC_PERP	32.272	0.0305	get 0.0038% / 1h	12m 54s	$123K	$380K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against Polymarket Perps. 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 Polymarket PerpsbpFee BackpackbpOrdersPrice spread, now −0.011%Rate

Funding earned: $43.01
Price spread: −0.011% → +0.087%: −$9.79
Slippage, 4 orders: −$26.42
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee Backpack: 5 bp × 2 orders: −$10
Net: −$11.2
Costs to cover: 0.444%
Break-even: 8.8 days

Slippage from Polymarket Perps: live order book, 5 min ago; Backpack: live order book, 11 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 Polymarket Perps live order book, 5 min ago	2.50 bp	8.6 bp −$9	8.8 bp −$88	doesn't fit	doesn't fit
Sell Backpack live order book, 11 min ago	3.23 bp	16.4 bp −$16	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
Kalshi KXVVVPERP	0.0000%	8h	32.293	+0.056%	$114K	$6.8M	1.7x	as long as short
Deribit VVV_USDC-PERPETUAL	0.0000%	1h	32.256	−0.058%	$92K	$22K	10x	as long as short
gTrade (Gains Network) VVV/USD	L +0.0004% / S −0.0004%	1h	32.247	−0.087%	$19K	—	150x	as long as short
Injective VVV/USDC PERP	+0.0033%	1h	32.820	+1.689%	$2K	$1K	5.5x	as long as short
BloFin VVV-USDT	+0.0072%	4h	32.272	−0.009%	$1.3M	$1.7M	25x	as long as short
Phoenix VVV	+0.0077%	1h	32.267	−0.025%	$56K	$292K	5x	as long as short
RISEx VVV/USDC	+0.0078%	1h	32.287	+0.037%	$409K	$580K	5x	as long as short
Lighter VVV	+0.0096%	1h	32.270	−0.015%	$2.2M	$5.4M	5x	as long as short
Lighter RH VVV	+0.0096%	1h	32.260	−0.046%	$481K	$1.6M	5x	as long as short
Nado VVV-PERP	+0.0100%	1h	32.296	+0.067%	$149K	$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	32.269	−0.019%	$278K	$1.8M	10x	as long as short
Pacifica VVV	+0.0100%	1h	32.298	+0.072%	$192K	$176K	10x	as long as short
Binance VVVUSDT	+0.0100%	4h	32.244	−0.096%	$34.0M	$155.1M	25x	as long as short
Bybit VVVUSDT	+0.0100%	4h	32.224	−0.158%	$39.8M	$52.0M	20x	as long as short
OKX VVV-USDT-SWAP	+0.0100%	4h	32.241	−0.105%	$4.8M	$42.3M	20x	as long as short
Gate VVV_USDT	+0.0100%	4h	32.234	−0.127%	$10.9M	$7.8M	25x	as long as short
MEXC VVV_USDT	+0.0100%	4h	32.247	−0.087%	$17.3M	$7.0M	50x	as long as short
KuCoin VVVUSDTM	+0.0100%	4h	32.250	−0.077%	$2.1M	$2.8M	20x	as long as short
Bitget VVVUSDT	+0.0100%	4h	32.230	−0.139%	$5.8M	$8.8M	20x	as long as short
BingX VVV-USDT	+0.0100%	4h	32.241	−0.105%	—	$5.4M	—	as long as short
Variational Omni VVV	+0.0100%	4h	32.022	−0.785%	$2.1M	$180K	—	as long as short
Polymarket Perps VVV-USDlong	+0.0100%	1h	32.275	long leg	$145K	$1.2M	3x
Derive VVV-PERP	+0.0100%	1h	32.240	−0.107%	$1K	$1K	5x	as long as short
Phemex VVVUSDT	+0.0100%	4h	32.197	−0.242%	$2.1M	$2.0M	50x	as long as short
Paradex VVV-USD-PERP	+0.0100%	8h	32.286	+0.033%	$3K	$106	5x	as long as short
Extended VVV-USD	+0.0104%	1h	32.242	−0.101%	$319K	$1.6M	5x	as long as short
01 Exchange VVVUSD	+0.0104%	1h	32.352	+0.239%	$12K	$3K	3x	as long as short
Aevo VVV-PERP	+0.0104%	1h	32.284	+0.028%	$6K	$13K	3x	as long as short
edgeX VVVUSDC	+0.0115%	4h	32.149	−0.391%	$80K	$332K	10x	as long as short
Hyperliquid VVV	+0.0115%	1h	32.311	+0.112%	$74.8M	$55.1M	3x	as long as short
GMX VVV/USD [ETH-USDC]	L +0.0191% / S +0.0094%	1h	32.241	−0.106%	$564K	—	100x	as long as short
Coinbase International VVV-PERP-INTX	+0.0232%	1h	32.406	+0.404%	$216K	$1.3M	25x	as long as short
Backpack VVV_USDC_PERPshort	+0.0305%	1h	32.272	−0.011%	$123K	$380K	5x