VVV

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0409%/8h= +44.8% APRnext payment +$0.51 per $10,000 · paid last 24h +0.036%

Price spread now: Backpack against RISEx−0.075%7-day average +0.082% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$56as in the Price arb table

costs, in and out, $10k−$400.400% of the position

Long on RISEx Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.139%+$14 on $10k

Price spread, last 4 days (all we have)+0.153%+$15 · spread now −0.075%, 7d avg +0.082%

Together, before fees+0.292%+$29 on $10k · with fees, hour by hour

Funding pays, the price is against you. Backpack is 0.156% cheaper against RISEx than usual: you would sell low and buy high (spread −0.075% now, against its 7-day average of +0.082%). If the spread goes back, that is −$16 on $10k: about 31 hours of funding at the current rate (+$12 a day). At the pace of the last 3 days (+0.139% in total) that is about 3.9 days.

The current funding rate is far above what this pair has been paying: over the last 3 days it paid 0.139% in total (about 14.6% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.51 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	RISEx VVV/USDC	31.870	−0.0111	get 0.0014% / 1h	29m 01s	$400K	$621K	5x
Short	Backpack VVV_USDC_PERP	31.847	0.0298	get 0.0037% / 1h	29m 01s	$123K	$318K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against RISEx. 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 RISExbpFee BackpackbpOrdersPrice spread, now −0.075%Rate

Funding earned: $85.93
Price spread: −0.075% → +0.082%: −$15.62
Slippage, 4 orders: −$23.99
Fee RISEx: 3 bp × 2 orders: −$6
Fee Backpack: 5 bp × 2 orders: −$10
Net: $30.31
Costs to cover: 0.400%
Break-even: 4.5 days

Slippage from RISEx: live order book, 40 min ago; Backpack: live order book, 40 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 RISEx live order book, 40 min ago	2.08 bp	5.1 bp −$5	22.1 bp −$221	doesn't fit	doesn't fit
Sell Backpack live order book, 40 min ago	2.44 bp	15.1 bp −$15	doesn't fit	doesn't fit	doesn't fit

VVV on 32 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
RISEx VVV/USDClong	−0.0111%	1h	31.870	long leg	$400K	$621K	5x
Gate VVV_USDT	−0.0060%	4h	31.812	−0.184%	$10.7M	$7.1M	25x	as long as short
Polymarket Perps VVV-USD	−0.0032%	1h	31.866	−0.014%	$146K	$1.1M	3x	as long as short
Bybit VVVUSDT	−0.0027%	4h	31.786	−0.266%	$38.9M	$50.8M	20x	as long as short
Kalshi KXVVVPERP	0.0000%	8h	31.892	+0.067%	$120K	$6.4M	1.7x	as long as short
Phoenix VVV	0.0000%	1h	31.929	+0.184%	$49K	$289K	5x	as long as short
gTrade (Gains Network) VVV/USD	L +0.0004% / S −0.0004%	1h	31.842	−0.091%	$2K	—	150x	as long as short
Deribit VVV_USDC-PERPETUAL	+0.0033%	1h	31.831	−0.124%	$89K	$24K	10x	as long as short
Injective VVV/USDC PERP	+0.0033%	1h	32.820	+2.979%	$2K	$1K	5.5x	as long as short
01 Exchange VVVUSD	+0.0088%	1h	31.892	+0.067%	$11K	$3K	3x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter VVV	+0.0096%	1h	31.833	−0.117%	$2.2M	$5.6M	5x	as long as short
Lighter RH VVV	+0.0096%	1h	31.826	−0.140%	$470K	$1.5M	5x	as long as short
Paradex VVV-USD-PERP	+0.0100%	8h	31.855	−0.049%	$3K	$73	5x	as long as short
Nado VVV-PERP	+0.0100%	1h	31.892	+0.066%	$127K	$844K	3x	as long as short
Hyperliquid VVV	+0.0100%	1h	31.859	−0.036%	$73.5M	$53.7M	3x	as long as short
Aster VVVUSDT	+0.0100%	4h	31.856	−0.045%	$258K	$1.8M	10x	as long as short
Pacifica VVV	+0.0100%	1h	31.885	+0.047%	$191K	$163K	10x	as long as short
Binance VVVUSDT	+0.0100%	4h	31.826	−0.140%	$33.8M	$149.7M	25x	as long as short
OKX VVV-USDT-SWAP	+0.0100%	4h	31.818	−0.165%	$4.7M	$40.3M	20x	as long as short
MEXC VVV_USDT	+0.0100%	4h	31.849	−0.067%	$6.5M	$6.9M	50x	as long as short
KuCoin VVVUSDTM	+0.0100%	4h	31.882	+0.036%	$1.8M	$2.8M	20x	as long as short
Bitget VVVUSDT	+0.0100%	4h	31.825	−0.143%	$5.7M	$8.6M	20x	as long as short
BingX VVV-USDT	+0.0100%	4h	31.841	−0.093%	—	$5.4M	—	as long as short
Variational Omni VVV	+0.0100%	4h	31.875	+0.013%	$2.1M	$185K	—	as long as short
Derive VVV-PERP	+0.0100%	1h	31.816	−0.172%	$3K	$3K	5x	as long as short
Phemex VVVUSDT	+0.0100%	4h	31.844	−0.083%	$2.1M	$2.1M	50x	as long as short
Extended VVV-USD	+0.0104%	1h	31.834	−0.114%	$302K	$1.9M	5x	as long as short
Aevo VVV-PERP	+0.0104%	1h	31.841	−0.091%	$6K	—	3x	as long as short
edgeX VVVUSDC	+0.0109%	4h	31.927	+0.177%	$79K	$336K	10x	as long as short
GMX VVV/USD [ETH-USDC]	L +0.0176% / S +0.0123%	1h	31.827	−0.138%	$576K	—	100x	as long as short
Coinbase International VVV-PERP-INTX	+0.0208%	1h	31.919	+0.153%	$234K	$1.2M	25x	as long as short
Backpack VVV_USDC_PERPshort	+0.0298%	1h	31.847	−0.075%	$123K	$318K	5x