Funding arb · Price arb /

VVV

all VVV markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0348%/8h= −38.1% APRpaid last 24h −0.069%

Price spread now: BloFin against Hyperliquid+0.059%47s7-day average −0.009% · you sell dearer than you buy

Net, funding: paid 7d − costs−$55as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$530.527% of the position

Long on Hyperliquid Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.026%−$3 on $10k

Price spread, last 3 days (all we have)+0.075%+$8 · spread now +0.059%, 7d avg −0.009%

Together, before fees+0.050%+ Points / potential airdropHyperliquid: Season 2 · farm board+$5 on $10k · with fees, hour by hour

The price spread pays, funding is against you. BloFin is 0.068% dearer against Hyperliquid than usual: you sell high and buy low (spread +0.059% now, against its 7-day average of −0.009%): +$7 on $10k if it goes back. Holding the pair costs −$10 a day in funding at the current rate, which eats that in about 16 hours. At the pace of the last 7 days (−0.026% in total) that is about 19 days. The two prices were read 47 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.026% in total (about -1.3% 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	Hyperliquid VVV	32.088	0.0487	pay 0.0061% / 1h	26m 09s	$74.5M	$56.1M	3x
Short	BloFin VVV-USDT	32.107	0.0139	get 0.0069% / 4h	1h 26m	$1.4M	$1.8M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin against Hyperliquid. 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 HyperliquidbpFee BloFinbpOrdersPrice spread, now +0.059%Rate

Funding earned: −$73.09
Price spread: +0.059% → −0.009%: $6.8
Slippage, 4 orders: −$31.69
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$118.98
Costs to cover: 0.527%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 7 min ago; BloFin: live order book, 2 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 Hyperliquid live order book, 7 min ago	0.61 bp	13.4 bp −$13	doesn't fit	doesn't fit	doesn't fit
Sell BloFin live order book, 2 min ago	0.31 bp	17.0 bp −$17	30.4 bp −$304	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	0.0000%	1h	32.056	−0.101%	$91K	$23K	10x	as long as short
gTrade (Gains Network) VVV/USD	L +0.0004% / S −0.0004%	1h	32.077	−0.036%	$19K	—	150x	as long as short
Injective VVV/USDC PERP	+0.0033%	1h	32.820	+2.281%	$2K	$1K	5.5x	as long as short
Lighter VVV	+0.0096%	1h	32.023	−0.203%	$2.3M	$5.5M	5x	as long as short
Lighter RH VVV	+0.0096%	1h	32.022	−0.206%	$476K	$1.6M	5x	as long as short
Phoenix VVV	+0.0098%	1h	32.269	+0.564%	$56K	$294K	5x	as long as short
Nado VVV-PERP	+0.0100%	1h	32.090	+0.008%	$148K	$783K	3x	as long as short
Aster VVVUSDT	+0.0100%	4h	32.111	+0.071%	$266K	$1.9M	10x	as long as short
Pacifica VVV	+0.0100%	1h	32.119	+0.097%	$184K	$183K	10x	as long as short
Binance VVVUSDT	+0.0100%	4h	32.009	−0.246%	$33.5M	$157.3M	25x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit VVVUSDT	+0.0100%	4h	31.987	−0.314%	$39.4M	$52.7M	20x	as long as short
OKX VVV-USDT-SWAP	+0.0100%	4h	32.011	−0.240%	$4.7M	$42.5M	20x	as long as short
Gate VVV_USDT	+0.0100%	4h	32.077	−0.034%	$10.8M	$7.8M	25x	as long as short
MEXC VVV_USDT	+0.0100%	4h	32.038	−0.156%	$6.2M	$7.1M	50x	as long as short
KuCoin VVVUSDTM	+0.0100%	4h	32.072	−0.050%	$2.0M	$2.8M	20x	as long as short
Bitget VVVUSDT	+0.0100%	4h	32.009	−0.246%	$5.8M	$8.9M	20x	as long as short
BingX VVV-USDT	+0.0100%	4h	32.083	−0.016%	—	$5.5M	—	as long as short
Variational Omni VVV	+0.0100%	4h	32.330	+0.756%	$2.1M	$183K	—	as long as short
Polymarket Perps VVV-USD	+0.0100%	1h	32.055	−0.103%	$133K	$1.2M	3x	as long as short
Derive VVV-PERP	+0.0100%	1h	32.064	−0.075%	$1K	$1K	5x	as long as short
Phemex VVVUSDT	+0.0100%	4h	32.099	+0.034%	$2.1M	$2.0M	50x	as long as short
Paradex VVV-USD-PERP	+0.0100%	8h	32.088	−0.001%	$3K	$106	5x	as long as short
edgeX VVVUSDC	+0.0101%	4h	32.289	+0.626%	$80K	$331K	10x	as long as short
Kalshi KXVVVPERP	+0.0103%	8h	32.099	+0.034%	$103K	$6.9M	1.7x	as long as short
Extended VVV-USD	+0.0104%	1h	32.036	−0.161%	$317K	$1.6M	5x	as long as short
Aevo VVV-PERP	+0.0104%	1h	32.084	−0.012%	$6K	$13K	3x	as long as short
BloFin VVV-USDTshort	+0.0139%	4h	32.107	+0.059%	$1.4M	$1.8M	25x
Coinbase International VVV-PERP-INTX	+0.0144%	1h	32.175	+0.272%	$193K	$1.2M	25x	as long as short
RISEx VVV/USDC	+0.0175%	1h	32.066	−0.068%	$393K	$600K	5x	as long as short
GMX VVV/USD [ETH-USDC]	L +0.0188% / S +0.0166%	1h	32.066	−0.069%	$617K	—	100x	as long as short
Backpack VVV_USDC_PERP	+0.0275%	1h	32.095	+0.022%	$121K	$376K	5x	as long as short
01 Exchange VVVUSD	+0.0432%	1h	32.058	−0.093%	$11K	$3K	3x	as long as short
Hyperliquid VVVlong	+0.0487%	1h	32.088	long leg	$74.5M	$56.1M	3x