Funding arb · Price arb /

VVV

all VVV markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0868%/8h= +95.1% APRpaid last 24h +0.095%

Price spread now: Hyperliquid against Kalshi−0.018%7-day average +0.073% · you buy dearer than you sell

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

Long on Kalshi Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days+0.210%+$21 on $10k

Price spread, last 7 days+0.157%+$16 · spread now −0.018%, 7d avg +0.073%

Together, before fees+0.367%+ Points / potential airdropHyperliquid: Season 2 · farm board+$37 on $10k · with fees, hour by hour

Funding pays, the price is against you. Hyperliquid is 0.092% cheaper against Kalshi than usual: you would sell low and buy high (spread −0.018% now, against its 7-day average of +0.073%). If the spread goes back, that is −$9 on $10k: about 8 hours of funding at the current rate (+$26 a day). At the pace of the last 7 days (+0.210% in total) that is about 3.1 days.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.210% in total (about 10.9% 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	Kalshi KXVVVPERP	32.561	0	get 0.0000% / 8h	5h 58m	$107K	$6.8M	1.7x
Short	Hyperliquid VVV	32.555	0.0868	get 0.0109% / 1h	58m 37s	$75.4M	$55.2M	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid against Kalshi. 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 KalshibpFee HyperliquidbpOrdersPrice spread, now −0.018%Rate

Funding earned: $182.32
Price spread: −0.018% → +0.073%: −$9.18
Slippage, 4 orders: no order book: not counted
Fee Kalshi: 5 bp × 2 orders: −$10
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: $154.14
Costs to cover: 0.190%
Break-even: 1.1 days

Slippage unknown: Kalshi: live order book, 5 min ago; Hyperliquid: live order book, 5 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 Kalshi live order book, 5 min ago	4.30 bp	12.5 bp −$13	20.6 bp −$206	doesn't fit	doesn't fit
Sell Hyperliquid live order book, 5 min ago	0.15 bp	11.8 bp −$12	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	−0.0429%	1h	32.524	−0.114%	$92K	$23K	10x	as long as short
Kalshi KXVVVPERPlong	0.0000%	8h	32.561	long leg	$107K	$6.8M	1.7x
gTrade (Gains Network) VVV/USD	L +0.0004% / S −0.0004%	1h	32.511	−0.154%	$19K	—	150x	as long as short
Injective VVV/USDC PERP	+0.0033%	1h	32.820	+0.795%	$2K	$1K	5.5x	as long as short
BloFin VVV-USDT	+0.0042%	4h	32.512	−0.150%	$1.4M	$1.8M	25x	as long as short
Phoenix VVV	+0.0077%	1h	32.498	−0.193%	$57K	$291K	5x	as long as short
Lighter VVV	+0.0096%	1h	32.507	−0.166%	$2.2M	$5.4M	5x	as long as short
Lighter RH VVV	+0.0096%	1h	32.489	−0.221%	$485K	$1.6M	5x	as long as short
Nado VVV-PERP	+0.0100%	1h	32.491	−0.213%	$150K	$781K	3x	as long as short
Aster VVVUSDT	+0.0100%	4h	32.514	−0.144%	$276K	$1.8M	10x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica VVV	+0.0100%	1h	32.503	−0.177%	$193K	$176K	10x	as long as short
Binance VVVUSDT	+0.0100%	4h	32.506	−0.169%	$34.3M	$155.7M	25x	as long as short
Bybit VVVUSDT	+0.0100%	4h	32.478	−0.256%	$40.0M	$52.3M	20x	as long as short
OKX VVV-USDT-SWAP	+0.0100%	4h	32.477	−0.258%	$4.8M	$42.7M	20x	as long as short
Gate VVV_USDT	+0.0100%	4h	32.494	−0.206%	$11.0M	$7.6M	25x	as long as short
MEXC VVV_USDT	+0.0100%	4h	32.515	−0.141%	$17.6M	$7.0M	50x	as long as short
KuCoin VVVUSDTM	+0.0100%	4h	32.488	−0.224%	$2.0M	$2.8M	20x	as long as short
Bitget VVVUSDT	+0.0100%	4h	32.480	−0.249%	$5.9M	$8.8M	20x	as long as short
BingX VVV-USDT	+0.0100%	4h	32.493	−0.209%	—	$5.4M	—	as long as short
Variational Omni VVV	+0.0100%	4h	32.611	+0.154%	$2.1M	$180K	—	as long as short
Polymarket Perps VVV-USD	+0.0100%	1h	32.464	−0.298%	$152K	$1.2M	3x	as long as short
Derive VVV-PERP	+0.0100%	1h	32.487	−0.227%	$1K	$1K	5x	as long as short
Phemex VVVUSDT	+0.0100%	4h	32.473	−0.270%	$2.1M	$2.0M	50x	as long as short
Paradex VVV-USD-PERP	+0.0100%	8h	32.480	−0.248%	$3K	$106	5x	as long as short
Extended VVV-USD	+0.0104%	1h	32.516	−0.138%	$321K	$1.6M	5x	as long as short
Aevo VVV-PERP	+0.0104%	1h	32.510	−0.158%	$7K	$13K	3x	as long as short
edgeX VVVUSDC	+0.0117%	4h	32.615	+0.165%	$81K	$332K	10x	as long as short
Coinbase International VVV-PERP-INTX	+0.0144%	1h	32.490	−0.218%	$200K	$1.1M	25x	as long as short
Backpack VVV_USDC_PERP	+0.0172%	1h	32.530	−0.094%	$125K	$377K	5x	as long as short
RISEx VVV/USDC	+0.0175%	1h	32.482	−0.243%	$403K	$582K	5x	as long as short
GMX VVV/USD [ETH-USDC]	L +0.0191% / S +0.0097%	1h	32.493	−0.207%	$566K	—	100x	as long as short
01 Exchange VVVUSD	+0.0728%	1h	32.513	−0.147%	$12K	$3K	3x	as long as short
Hyperliquid VVVshort	+0.0868%	1h	32.555	−0.018%	$75.4M	$55.2M	3x