Funding arb · Price arb /

VVV

all VVV markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0115%/8h= +12.6% APRpaid last 24h +0.119%

Price spread now: Backpack against Variational Omni−0.107%7-day average +0.067% · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Variational Omni Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.484%+$48 on $10k

Price spread, last 4 days (all we have)−0.685%−$69 · spread now −0.107%, 7d avg +0.067%

Together, before fees−0.201%+ Points / potential airdropVariational Omni: Active · farm board−$20 on $10k · with fees, hour by hour

Funding pays, the price is against you. Backpack is 0.174% cheaper against Variational Omni than usual: you would sell low and buy high (spread −0.107% now, against its 7-day average of +0.067%). If the spread goes back, that is −$17 on $10k: about 5.1 days of funding at the current rate (+$3 a day). At the pace of the last 3 days (+0.484% in total) that is about 28 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni VVV	32.211	0.0100	pay 0.0050% / 4h	1h 01m	$2.1M	$183K	—
Short	Backpack VVV_USDC_PERP	32.176	0.0215	get 0.0027% / 1h	1m 42s	$121K	$362K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against Variational Omni. 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 Variational OmnibpFee BackpackbpOrdersPrice spread, now −0.107%Rate

Funding earned: $24.17
Price spread: −0.107% → +0.067%: −$17.45
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Backpack: 5 bp × 2 orders: −$10
Net: −$3.28
Costs to cover: 0.100%
Break-even: 7.9 days

Slippage unknown: Variational Omni: RFQ quote, 2 min ago; Backpack: live order book, 17 min ago. Net counts fees only.

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 Variational Omni RFQ quote, 2 min ago	2.88 bp	doesn't fit	54.2 bp −$542	doesn't fit	doesn't fit
Sell Backpack live order book, 17 min ago	2.36 bp	14.0 bp −$14	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	−0.0033%	1h	32.146	−0.201%	$91K	$23K	10x	as long as short
Kalshi KXVVVPERP	0.0000%	8h	32.191	−0.061%	$107K	$6.8M	1.7x	as long as short
gTrade (Gains Network) VVV/USD	L +0.0004% / S −0.0004%	1h	32.169	−0.129%	$19K	—	150x	as long as short
Injective VVV/USDC PERP	+0.0033%	1h	32.820	+1.892%	$2K	$1K	5.5x	as long as short
Lighter VVV	+0.0096%	1h	32.137	−0.228%	$2.3M	$5.5M	5x	as long as short
Lighter RH VVV	+0.0096%	1h	32.117	−0.291%	$477K	$1.6M	5x	as long as short
Phoenix VVV	+0.0098%	1h	32.162	−0.151%	$56K	$294K	5x	as long as short
Nado VVV-PERP	+0.0100%	1h	32.178	−0.100%	$149K	$783K	3x	as long as short
Aster VVVUSDT	+0.0100%	4h	32.141	−0.217%	$264K	$1.9M	10x	as long as short
Pacifica VVV	+0.0100%	1h	32.143	−0.211%	$192K	$191K	10x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance VVVUSDT	+0.0100%	4h	32.130	−0.250%	$33.6M	$157.0M	25x	as long as short
Bybit VVVUSDT	+0.0100%	4h	32.104	−0.331%	$39.5M	$52.7M	20x	as long as short
OKX VVV-USDT-SWAP	+0.0100%	4h	32.105	−0.328%	$4.7M	$42.7M	20x	as long as short
Gate VVV_USDT	+0.0100%	4h	32.115	−0.297%	$10.8M	$7.8M	25x	as long as short
MEXC VVV_USDT	+0.0100%	4h	32.124	−0.269%	$6.3M	$7.1M	50x	as long as short
KuCoin VVVUSDTM	+0.0100%	4h	32.122	−0.275%	$2.0M	$2.8M	20x	as long as short
Bitget VVVUSDT	+0.0100%	4h	32.119	−0.285%	$5.8M	$8.9M	20x	as long as short
BingX VVV-USDT	+0.0100%	4h	32.139	−0.222%	—	$5.5M	—	as long as short
Variational Omni VVVlong	+0.0100%	4h	32.211	long leg	$2.1M	$183K	—
Polymarket Perps VVV-USD	+0.0100%	1h	32.151	−0.185%	$145K	$1.2M	3x	as long as short
Derive VVV-PERP	+0.0100%	1h	32.155	−0.172%	$1K	$1K	5x	as long as short
Phemex VVVUSDT	+0.0100%	4h	32.151	−0.185%	$2.1M	$2.1M	50x	as long as short
Paradex VVV-USD-PERP	+0.0100%	8h	32.131	−0.247%	$3K	$106	5x	as long as short
Extended VVV-USD	+0.0104%	1h	32.122	−0.274%	$323K	$1.6M	5x	as long as short
Aevo VVV-PERP	+0.0104%	1h	32.160	−0.157%	$6K	$13K	3x	as long as short
edgeX VVVUSDC	+0.0114%	4h	32.165	−0.143%	$80K	$333K	10x	as long as short
Coinbase International VVV-PERP-INTX	+0.0144%	1h	32.233	+0.068%	$242K	$1.4M	25x	as long as short
BloFin VVV-USDT	+0.0152%	4h	32.178	−0.101%	$1.3M	$1.8M	25x	as long as short
RISEx VVV/USDC	+0.0175%	1h	32.171	−0.123%	$395K	$607K	5x	as long as short
GMX VVV/USD [ETH-USDC]	L +0.0185% / S +0.0169%	1h	32.165	−0.142%	$619K	—	100x	as long as short
Hyperliquid VVV	+0.0203%	1h	32.153	−0.179%	$74.7M	$55.8M	3x	as long as short
Backpack VVV_USDC_PERPshort	+0.0215%	1h	32.176	−0.107%	$121K	$362K	5x
01 Exchange VVVUSD	+0.0280%	1h	32.170	−0.126%	$11K	$3K	3x	as long as short