VVV

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC−0.0555%/8h= −60.7% APRnext payment −$0.69 per $10,000 · paid last 24h −0.102%

Price spread now: Lighter RH against Backpack−0.075%7-day average +0.012% · you buy dearer than you sell

Net, funding: paid 7d − costs−$60as in the Funding arb table

Net, price: spread back to 7d avg − costs−$51as in the Price arb table

costs, in and out, $10k−$430.425% of the position

Long on Backpack Short on Lighter RH

What this pair did over the last

the charts below follow

Funding, last 7 days−0.179%−$18 on $10k

Price spread, last 4 days (all we have)+0.383%+$38 · spread now −0.075%, 7d avg +0.012%

Together, before fees+0.204%+ Points / potential airdropLighter RH: Points live · farm board+$20 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$17 a day on $10k at the current rate, and Lighter RH is 0.087% cheaper against Backpack than usual: you would sell low and buy high (−$9 if the spread goes back to its 7-day average of +0.012%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.179% in total (about -9.4% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.69 per $10,000. In the chart: green and red are payments made; yellow are the hours one leg has not settled yet: what the other leg paid, plus the unsettled leg at its current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack VVV_USDC_PERP	32.200	0.0651	pay 0.0081% / 1h	52m 48s	$173K	$268K	5x
Short	Lighter RH VVV	32.176	0.0096	get 0.0012% / 1h	52m 48s	$486K	$1.4M	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter RH against Backpack. 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 BackpackbpFee Lighter RHbpOrdersPrice spread, now −0.075%Rate

Funding earned: −$116.49
Price spread: −0.075% → +0.012%: −$8.66
Slippage, 4 orders: −$32.54
Fee Backpack: 5 bp × 2 orders: −$10
Fee Lighter RH: 0 bp × 2 orders: $0
Net: −$167.68
Costs to cover: 0.425%
Break-even: never at this rate

Slippage from Backpack: live order book, 58 min ago; Lighter RH: live order book, 3 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 Backpack live order book, 58 min ago	2.62 bp	13.9 bp −$14	doesn't fit	doesn't fit	doesn't fit
Sell Lighter RH live order book, 3 min ago	3.57 bp	8.6 bp −$9	18.8 bp −$188	doesn't fit	doesn't fit

VVV on 32 exchanges

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	−0.0247%	1h	32.165	−0.108%	$87K	$19K	10x	as long as short
RISEx VVV/USDC	−0.0142%	1h	32.173	−0.084%	$394K	$730K	5x	as long as short
Gate VVV_USDT	−0.0034%	4h	32.135	−0.202%	$12.7M	$5.0M	25x	as long as short
Kalshi KXVVVPERP	0.0000%	8h	32.217	+0.052%	$181K	$5.4M	1.7x	as long as short
gTrade (Gains Network) VVV/USD	L +0.0004% / S −0.0004%	1h	32.164	−0.113%	$19K	—	150x	as long as short
Coinbase International VVV-PERP-INTX	+0.0024%	1h	32.449	+0.772%	$160K	$1.3M	25x	as long as short
Injective VVV/USDC PERP	+0.0033%	1h	32.820	+1.925%	$2K	$1K	5.5x	as long as short
BloFin VVV-USDT	+0.0053%	4h	32.175	−0.078%	$1.3M	$1.5M	25x	as long as short
Lighter VVV	+0.0096%	1h	32.167	−0.104%	$2.0M	$3.8M	5x	as long as short
Lighter RH VVVshort	+0.0096%	1h	32.176	−0.075%	$486K	$1.4M	5x

Show all 32 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado VVV-PERP	+0.0100%	1h	32.222	+0.070%	$192K	$904K	3x	as long as short
Aster VVVUSDT	+0.0100%	4h	32.153	−0.148%	$254K	$508K	10x	as long as short
Pacifica VVV	+0.0100%	1h	32.239	+0.120%	$190K	$112K	10x	as long as short
Binance VVVUSDT	+0.0100%	4h	32.145	−0.172%	$33.6M	$100.9M	25x	as long as short
Bybit VVVUSDT	+0.0100%	4h	32.130	−0.219%	$38.1M	$39.2M	20x	as long as short
OKX VVV-USDT-SWAP	+0.0100%	4h	32.130	−0.218%	$4.8M	$24.5M	20x	as long as short
MEXC VVV_USDT	+0.0100%	4h	32.151	−0.152%	$7.8M	$4.4M	50x	as long as short
KuCoin VVVUSDTM	+0.0100%	4h	32.163	−0.115%	$1.7M	$2.6M	20x	as long as short
Bitget VVVUSDT	+0.0100%	4h	32.139	−0.190%	$5.9M	$5.9M	20x	as long as short
BingX VVV-USDT	+0.0100%	4h	32.146	−0.168%	—	$4.1M	—	as long as short
Variational Omni VVV	+0.0100%	4h	32.231	+0.097%	$2.0M	$333K	—	as long as short
Polymarket Perps VVV-USD	+0.0100%	1h	32.211	+0.034%	$132K	$1.3M	3x	as long as short
Phemex VVVUSDT	+0.0100%	4h	32.212	+0.037%	$2.0M	$2.1M	50x	as long as short
Paradex VVV-USD-PERP	+0.0100%	8h	32.222	+0.067%	$3K	$50	5x	as long as short
Extended VVV-USD	+0.0104%	1h	32.141	−0.184%	$306K	$1.8M	5x	as long as short
Aevo VVV-PERP	+0.0104%	1h	32.177	−0.071%	$6K	—	3x	as long as short
edgeX VVVUSDC	+0.0109%	4h	32.344	+0.446%	$80K	$320K	10x	as long as short
Phoenix VVV	+0.0198%	1h	32.264	+0.198%	$33K	$192K	5x	as long as short
01 Exchange VVVUSD	+0.0408%	1h	32.231	+0.096%	$12K	$2K	3x	as long as short
GMX VVV/USD [ETH-USDC]	L +0.0450% / S −0.0219%	1h	32.181	−0.061%	$518K	—	100x	as long as short
Hyperliquid VVV	+0.0515%	1h	32.182	−0.056%	$75.1M	$45.3M	3x	as long as short
Backpack VVV_USDC_PERPlong	+0.0651%	1h	32.200	long leg	$173K	$268K	5x