VVV

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0577%/8h= −63.1% APRnext payment −$0.72 per $10,000 · paid last 24h −0.060%

Price spread now: Coinbase International against Hyperliquid+0.056%7-day average −0.048% · you sell dearer than you buy

Net, funding: paid 7d − costs−$85as in the Funding arb table

Net, price: spread back to 7d avg − costs−$61as in the Price arb table

costs, in and out, $10k−$710.711% of the position

Long on Hyperliquid Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days−0.136%−$14 on $10k

Price spread, last 4 days (all we have)−0.379%−$38 · spread now +0.056%, 7d avg −0.048%

Together, before fees−0.514%+ Points / potential airdropHyperliquid: Season 2 · farm board−$51 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Coinbase International is 0.104% dearer against Hyperliquid than usual: you sell high and buy low (spread +0.056% now, against its 7-day average of −0.048%): +$10 on $10k if it goes back. Holding the pair costs −$17 a day in funding at the current rate, which eats that in about 14 hours. At the pace of the last 7 days (−0.136% in total) that is about 5.4 days.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.136% in total (about -7.1% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.72 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	Hyperliquid VVV	31.531	0.0617	pay 0.0077% / 1h	20m 42s	$70.2M	$42.4M	3x
Short	Coinbase International VVV-PERP-INTX	31.549	0.0040	get 0.0005% / 1h	20m 42s	$192K	$1.3M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International 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 Coinbase InternationalbpOrdersPrice spread, now +0.056%Rate

Funding earned: −$121.1
Price spread: +0.056% → −0.048%: $10.4
Slippage, 4 orders: −$52.1
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$181.8
Costs to cover: 0.711%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 6 min ago; Coinbase International: live order book, 1 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, 6 min ago	0.79 bp	11.0 bp −$11	doesn't fit	doesn't fit	doesn't fit
Sell Coinbase International live order book, 1 min ago	19.14 bp	30.7 bp −$31	47.4 bp −$474	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
RISEx VVV/USDC	−0.0166%	1h	31.451	−0.255%	$385K	$702K	5x	as long as short
Gate VVV_USDT	−0.0088%	4h	31.466	−0.206%	$12.2M	$4.6M	25x	as long as short
Kalshi KXVVVPERP	0.0000%	8h	31.486	−0.143%	$132K	$5.4M	1.7x	as long as short
Deribit VVV_USDC-PERPETUAL	0.0000%	1h	31.463	−0.216%	$87K	$19K	10x	as long as short
gTrade (Gains Network) VVV/USD	L +0.0004% / S −0.0004%	1h	31.463	−0.216%	$19K	—	150x	as long as short
Injective VVV/USDC PERP	+0.0033%	1h	32.820	+4.088%	$2K	$1K	5.5x	as long as short
Coinbase International VVV-PERP-INTXshort	+0.0040%	1h	31.549	+0.056%	$192K	$1.3M	25x
BloFin VVV-USDT	+0.0081%	4h	31.469	−0.197%	$1.3M	$1.4M	25x	as long as short
Lighter VVV	+0.0096%	1h	31.520	−0.035%	$1.9M	$4.1M	5x	as long as short
Lighter RH VVV	+0.0096%	1h	31.531	0.000%	$494K	$1.6M	5x	as long as short

Show all 32 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Paradex VVV-USD-PERP	+0.0100%	8h	31.459	−0.228%	$3K	$50	5x	as long as short
Nado VVV-PERP	+0.0100%	1h	31.469	−0.195%	$188K	$974K	3x	as long as short
Aster VVVUSDT	+0.0100%	4h	31.516	−0.046%	$247K	$476K	10x	as long as short
Pacifica VVV	+0.0100%	1h	31.489	−0.134%	$186K	$116K	10x	as long as short
Binance VVVUSDT	+0.0100%	4h	31.519	−0.037%	$33.3M	$99.5M	25x	as long as short
Bybit VVVUSDT	+0.0100%	4h	31.500	−0.098%	$38.2M	$37.5M	20x	as long as short
OKX VVV-USDT-SWAP	+0.0100%	4h	31.519	−0.038%	$4.7M	$23.8M	20x	as long as short
MEXC VVV_USDT	+0.0100%	4h	31.496	−0.111%	$7.4M	$4.4M	50x	as long as short
KuCoin VVVUSDTM	+0.0100%	4h	31.502	−0.092%	$1.7M	$2.6M	20x	as long as short
Bitget VVVUSDT	+0.0100%	4h	31.502	−0.092%	$5.7M	$5.8M	20x	as long as short
BingX VVV-USDT	+0.0100%	4h	31.497	−0.108%	—	$4.1M	—	as long as short
Variational Omni VVV	+0.0100%	4h	31.432	−0.314%	$2.0M	$335K	—	as long as short
Polymarket Perps VVV-USD	+0.0100%	1h	31.468	−0.200%	$129K	$1.3M	3x	as long as short
Phemex VVVUSDT	+0.0100%	4h	31.491	−0.127%	$2.0M	$2.1M	50x	as long as short
Extended VVV-USD	+0.0104%	1h	31.495	−0.114%	$293K	$1.8M	5x	as long as short
Aevo VVV-PERP	+0.0104%	1h	31.480	−0.161%	$6K	—	3x	as long as short
edgeX VVVUSDC	+0.0107%	4h	31.508	−0.072%	$78K	$322K	10x	as long as short
Phoenix VVV	+0.0279%	1h	31.493	−0.121%	$33K	$188K	5x	as long as short
01 Exchange VVVUSD	+0.0320%	1h	31.527	−0.013%	$11K	$2K	3x	as long as short
GMX VVV/USD [ETH-USDC]	L +0.0444% / S −0.0219%	1h	31.454	−0.245%	$506K	—	100x	as long as short
Backpack VVV_USDC_PERP	+0.0554%	1h	31.516	−0.048%	$167K	$251K	5x	as long as short
Hyperliquid VVVlong	+0.0617%	1h	31.531	long leg	$70.2M	$42.4M	3x