Funding arb · Price arb /

VVV

all VVV markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0185%/8h= +20.2% APRpaid last 24h +0.026%

Price spread now: Kalshi against Deribit+0.065%7-day average — · you sell dearer than you buy

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

Long on Deribit Short on Kalshi

What this pair did over the last

the charts below follow

Funding, last 7 days+0.127%+$13 on $10k

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Both sides work for this trade now. Funding pays +$6 a day on $10k at the current rate, and Kalshi is 0.065% dearer against Deribit than usual: you sell high and buy low: +$7 more if the spread goes back to zero (this spread has no 7-day history yet).

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.127% in total (about 6.7% a year). A funding rate is set anew for every payment. 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	Deribit VVV_USDC-PERPETUAL	31.487	−0.0185	get 0.0023% / 1h	57m 39s	$88K	$22K	10x
Short	Kalshi KXVVVPERP	31.508	0	get 0.0000% / 8h	4h 57m	$91K	$5.4M	1.7x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kalshi against Deribit. 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 DeribitbpFee KalshibpOrdersPrice spread, now +0.065%Rate

Funding earned: $38.83
Price spread: +0.065% → 0.000%: $6.54
Slippage, 4 orders: no order book: not counted
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Kalshi: 5 bp × 2 orders: −$10
Net: $28.37
Costs to cover: 0.170%
Break-even: 1.9 days

Slippage unknown: Deribit: no order-book sample; Kalshi: live order book, 1 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 Deribit no order-book sample	—	—	—	—	—
Sell Kalshi live order book, 1 min ago	4.60 bp	12.5 bp −$13	21.4 bp −$214	doesn't fit	doesn't fit

Deribit: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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
RISEx VVV/USDC	−0.0337%	1h	31.455	−0.102%	$386K	$654K	5x	as long as short
Deribit VVV_USDC-PERPETUALlong	−0.0185%	1h	31.487	long leg	$88K	$22K	10x
Coinbase International VVV-PERP-INTX	−0.0040%	1h	31.489	+0.006%	$187K	$1.3M	25x	as long as short
Kalshi KXVVVPERPshort	0.0000%	8h	31.508	+0.065%	$91K	$5.4M	1.7x
gTrade (Gains Network) VVV/USD	L +0.0004% / S −0.0004%	1h	31.502	+0.045%	$19K	—	150x	as long as short
Injective VVV/USDC PERP	+0.0033%	1h	32.820	+4.232%	$2K	$1K	5.5x	as long as short
Lighter VVV	+0.0096%	1h	31.427	−0.191%	$2.0M	$4.2M	5x	as long as short
Lighter RH VVV	+0.0096%	1h	31.438	−0.157%	$463K	$1.6M	5x	as long as short
Paradex VVV-USD-PERP	+0.0100%	8h	31.425	−0.197%	$3K	$73	5x	as long as short
Nado VVV-PERP	+0.0100%	1h	31.498	+0.034%	$141K	$925K	3x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid VVV	+0.0100%	1h	31.459	−0.090%	$70.5M	$46.1M	3x	as long as short
Aster VVVUSDT	+0.0100%	4h	31.471	−0.053%	$249K	$761K	10x	as long as short
Pacifica VVV	+0.0100%	1h	31.457	−0.097%	$186K	$125K	10x	as long as short
Binance VVVUSDT	+0.0100%	4h	31.443	−0.141%	$33.8M	$116.8M	25x	as long as short
Bybit VVVUSDT	+0.0100%	4h	31.415	−0.230%	$38.4M	$40.6M	20x	as long as short
OKX VVV-USDT-SWAP	+0.0100%	4h	31.428	−0.189%	$4.8M	$29.4M	20x	as long as short
Gate VVV_USDT	+0.0100%	4h	31.416	−0.227%	$11.4M	$5.2M	25x	as long as short
MEXC VVV_USDT	+0.0100%	4h	31.455	−0.103%	$6.9M	$5.3M	50x	as long as short
KuCoin VVVUSDTM	+0.0100%	4h	31.434	−0.170%	$1.7M	$2.7M	20x	as long as short
Bitget VVVUSDT	+0.0100%	4h	31.421	−0.211%	$5.7M	$6.8M	20x	as long as short
BingX VVV-USDT	+0.0100%	4h	31.436	−0.163%	—	$4.7M	—	as long as short
Variational Omni VVV	+0.0100%	4h	31.531	+0.138%	$2.0M	$354K	—	as long as short
Polymarket Perps VVV-USD	+0.0100%	1h	31.480	−0.024%	$122K	$1.4M	3x	as long as short
Derive VVV-PERP	+0.0100%	1h	31.484	−0.011%	$3K	$3K	5x	as long as short
Phemex VVVUSDT	+0.0100%	4h	31.525	+0.119%	$2.0M	$2.1M	50x	as long as short
Extended VVV-USD	+0.0104%	1h	31.438	−0.156%	$300K	$1.3M	5x	as long as short
Aevo VVV-PERP	+0.0104%	1h	31.521	+0.106%	$6K	—	3x	as long as short
edgeX VVVUSDC	+0.0112%	4h	31.568	+0.256%	$78K	$330K	10x	as long as short
01 Exchange VVVUSD	+0.0128%	1h	31.439	−0.154%	$11K	$2K	3x	as long as short
BloFin VVV-USDT	+0.0152%	4h	31.616	+0.408%	$1.4M	$1.5M	25x	as long as short
Phoenix VVV	+0.0307%	1h	31.564	+0.243%	$33K	$214K	5x	as long as short
GMX VVV/USD [ETH-USDC]	L +0.0436% / S −0.0208%	1h	31.499	+0.036%	$506K	—	100x	as long as short
Backpack VVV_USDC_PERP	+0.0498%	1h	31.521	+0.106%	$155K	$267K	5x	as long as short