VVV

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0137%/8h= +15.0% APRnext payment +$0.17 per $10,000 · paid last 24h +0.036%

Price spread now: Backpack against Lighter−0.023%7-day average −0.001% · you buy dearer than you sell

Net, funding: paid 7d − costs−$21as in the Funding arb table

Net, price: spread back to 7d avg − costs−$54as in the Price arb table

costs, in and out, $10k−$520.517% of the position

Long on Lighter Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 7 days+0.305%+$31 on $10k

Price spread, last 4 days (all we have)−0.116%−$12 · spread now −0.023%, 7d avg −0.001%

Together, before fees+0.189%+ Points / potential airdropLighter: Season 3 · farm board+$19 on $10k · with fees, hour by hour

Funding pays, the price is against you. Backpack is 0.022% cheaper against Lighter than usual: you would sell low and buy high (spread −0.023% now, against its 7-day average of −0.001%). If the spread goes back, that is −$2 on $10k: about 13 hours of funding at the current rate (+$4 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter VVV	32.077	0.0096	pay 0.0012% / 1h	20m 26s	$2.3M	$5.5M	5x
Short	Backpack VVV_USDC_PERP	32.070	0.0233	get 0.0029% / 1h	20m 26s	$121K	$375K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against Lighter. 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 LighterbpFee BackpackbpOrdersPrice spread, now −0.023%Rate

Funding earned: $28.82
Price spread: −0.023% → −0.001%: −$2.2
Slippage, 4 orders: −$41.66
Fee Lighter: 0 bp × 2 orders: $0
Fee Backpack: 5 bp × 2 orders: −$10
Net: −$25.05
Costs to cover: 0.517%
Break-even: 13.1 days

Slippage from Lighter: live order book, 3 min ago; Backpack: live order book, 63 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 Lighter live order book, 3 min ago	3.51 bp	11.0 bp −$11	45.2 bp −$452	doesn't fit	doesn't fit
Sell Backpack live order book, 63 min ago	3.23 bp	16.4 bp −$16	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	−0.0068%	1h	32.097	+0.062%	$91K	$23K	10x	as long as short
Kalshi KXVVVPERP	0.0000%	8h	32.189	+0.349%	$106K	$6.9M	1.7x	as long as short
gTrade (Gains Network) VVV/USD	L +0.0004% / S −0.0004%	1h	32.070	−0.023%	$19K	—	150x	as long as short
Injective VVV/USDC PERP	+0.0033%	1h	32.820	+2.316%	$2K	$1K	5.5x	as long as short
BloFin VVV-USDT	+0.0095%	4h	32.096	+0.059%	$1.4M	$1.8M	25x	as long as short
Lighter VVVlong	+0.0096%	1h	32.077	long leg	$2.3M	$5.5M	5x
Lighter RH VVV	+0.0096%	1h	32.022	−0.172%	$476K	$1.6M	5x	as long as short
Phoenix VVV	+0.0098%	1h	32.033	−0.137%	$56K	$294K	5x	as long as short
Nado VVV-PERP	+0.0100%	1h	32.028	−0.155%	$148K	$783K	3x	as long as short
Aster VVVUSDT	+0.0100%	4h	32.086	+0.028%	$264K	$1.9M	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	32.042	−0.110%	$184K	$183K	10x	as long as short
Binance VVVUSDT	+0.0100%	4h	32.073	−0.013%	$33.5M	$157.6M	25x	as long as short
Bybit VVVUSDT	+0.0100%	4h	32.048	−0.092%	$39.5M	$52.8M	20x	as long as short
OKX VVV-USDT-SWAP	+0.0100%	4h	32.077	0.000%	$4.7M	$42.6M	20x	as long as short
Gate VVV_USDT	+0.0100%	4h	32.066	−0.035%	$10.8M	$7.8M	25x	as long as short
MEXC VVV_USDT	+0.0100%	4h	32.054	−0.072%	$6.2M	$7.1M	50x	as long as short
KuCoin VVVUSDTM	+0.0100%	4h	32.046	−0.097%	$2.0M	$2.9M	20x	as long as short
Bitget VVVUSDT	+0.0100%	4h	32.034	−0.134%	$5.8M	$9.0M	20x	as long as short
BingX VVV-USDT	+0.0100%	4h	32.080	+0.009%	—	$5.5M	—	as long as short
Variational Omni VVV	+0.0100%	4h	32.077	+0.001%	$2.1M	$183K	—	as long as short
Polymarket Perps VVV-USD	+0.0100%	1h	32.022	−0.172%	$138K	$1.2M	3x	as long as short
Derive VVV-PERP	+0.0100%	1h	32.108	+0.096%	$1K	$1K	5x	as long as short
Phemex VVVUSDT	+0.0100%	4h	32.105	+0.087%	$2.1M	$2.1M	50x	as long as short
Paradex VVV-USD-PERP	+0.0100%	8h	32.054	−0.071%	$3K	$106	5x	as long as short
Extended VVV-USD	+0.0104%	1h	32.026	−0.159%	$317K	$1.6M	5x	as long as short
Aevo VVV-PERP	+0.0104%	1h	32.116	+0.122%	$6K	$13K	3x	as long as short
edgeX VVVUSDC	+0.0113%	4h	32.073	−0.013%	$80K	$332K	10x	as long as short
Coinbase International VVV-PERP-INTX	+0.0144%	1h	32.185	+0.337%	$226K	$1.3M	25x	as long as short
RISEx VVV/USDC	+0.0175%	1h	32.036	−0.127%	$393K	$598K	5x	as long as short
GMX VVV/USD [ETH-USDC]	L +0.0187% / S +0.0167%	1h	32.066	−0.036%	$616K	—	100x	as long as short
Backpack VVV_USDC_PERPshort	+0.0233%	1h	32.070	−0.023%	$121K	$375K	5x
Hyperliquid VVV	+0.0363%	1h	32.059	−0.056%	$74.4M	$56.1M	3x	as long as short
01 Exchange VVVUSD	+0.0368%	1h	32.041	−0.113%	$11K	$3K	3x	as long as short