Funding arb · Price arb /

VVV

all VVV markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0061%/8h= +6.7% APRpaid last 24h −0.057%

Price spread now: Kalshi against Lighter+0.016%7-day average −0.060% · you sell dearer than you buy

Net, funding: paid 7d − costs−$78as in the Funding arb table

Net, price: spread back to 7d avg − costs−$34as in the Price arb table

costs, in and out, $10k−$420.420% of the position

Long on Lighter Short on Kalshi

What this pair did over the last

the charts below follow

Funding, last 7 days−0.361%−$36 on $10k

Price spread, last 7 days−0.005%−$1 · spread now +0.016%, 7d avg −0.060%

Together, before fees−0.366%+ Points / potential airdropLighter: Season 3 · farm board−$37 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and Kalshi is 0.076% dearer against Lighter than usual: you sell high and buy low: +$8 more if the spread goes back to its 7-day average of −0.060%. Mind the row above: over the last 7 days funding on this pair cost −0.361%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter VVV	30.741	0.0096	pay 0.0012% / 1h	35m 30s	$2.0M	$5.2M	5x
Short	Kalshi KXVVVPERP	30.746	0.0157	get 0.0157% / 8h	35m 30s	$96K	$5.7M	1.7x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kalshi 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 KalshibpOrdersPrice spread, now +0.016%Rate

Funding earned: $12.82
Price spread: +0.016% → −0.060%: $7.6
Slippage, 4 orders: −$31.97
Fee Lighter: 0 bp × 2 orders: $0
Fee Kalshi: 5 bp × 2 orders: −$10
Net: −$21.55
Costs to cover: 0.420%
Break-even: 18.8 days

Slippage from Lighter: live order book, 7 min ago; Kalshi: live order book, 3 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, 7 min ago	1.84 bp	3.4 bp −$3	33.8 bp −$338	doesn't fit	doesn't fit
Sell Kalshi live order book, 3 min ago	9.72 bp	16.4 bp −$16	24.9 bp −$249	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
RISEx VVV/USDC	−0.0299%	1h	30.742	+0.004%	$377K	$626K	5x	as long as short
Polymarket Perps VVV-USD	−0.0084%	1h	30.729	−0.040%	$129K	$1.2M	3x	as long as short
Deribit VVV_USDC-PERPETUAL	0.0000%	1h	30.683	−0.190%	$85K	$24K	10x	as long as short
gTrade (Gains Network) VVV/USD	L +0.0004% / S −0.0002%	1h	30.701	−0.132%	$23K	—	150x	as long as short
Injective VVV/USDC PERP	+0.0033%	1h	32.820	+6.762%	$2K	$1K	5.5x	as long as short
Gate VVV_USDT	+0.0034%	4h	30.743	+0.006%	$10.3M	$5.9M	25x	as long as short
01 Exchange VVVUSD	+0.0040%	1h	30.755	+0.045%	$11K	$3K	3x	as long as short
Coinbase International VVV-PERP-INTX	+0.0064%	1h	30.768	+0.088%	$144K	$1.2M	25x	as long as short
Lighter VVVlong	+0.0096%	1h	30.741	long leg	$2.0M	$5.2M	5x
Lighter RH VVV	+0.0096%	1h	30.744	+0.009%	$450K	$1.6M	5x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Paradex VVV-USD-PERP	+0.0100%	8h	30.749	+0.026%	$3K	$73	5x	as long as short
Nado VVV-PERP	+0.0100%	1h	30.773	+0.102%	$111K	$858K	3x	as long as short
Hyperliquid VVV	+0.0100%	1h	30.756	+0.048%	$70.2M	$49.2M	3x	as long as short
Aster VVVUSDT	+0.0100%	4h	30.745	+0.012%	$246K	$1.1M	10x	as long as short
Pacifica VVV	+0.0100%	1h	30.770	+0.092%	$182K	$133K	10x	as long as short
Binance VVVUSDT	+0.0100%	4h	30.763	+0.070%	$32.8M	$130.8M	25x	as long as short
Bybit VVVUSDT	+0.0100%	4h	30.736	−0.017%	$38.3M	$43.7M	20x	as long as short
OKX VVV-USDT-SWAP	+0.0100%	4h	30.767	+0.084%	$4.8M	$33.6M	20x	as long as short
MEXC VVV_USDT	+0.0100%	4h	30.758	+0.055%	$6.3M	$6.2M	50x	as long as short
KuCoin VVVUSDTM	+0.0100%	4h	30.737	−0.014%	$2.0M	$2.8M	20x	as long as short
Bitget VVVUSDT	+0.0100%	4h	30.738	−0.010%	$5.7M	$7.5M	20x	as long as short
BingX VVV-USDT	+0.0100%	4h	30.765	+0.077%	—	$5.0M	—	as long as short
Variational Omni VVV	+0.0100%	4h	30.671	−0.228%	$1.9M	$306K	—	as long as short
Derive VVV-PERP	+0.0100%	1h	30.687	−0.176%	$3K	$3K	5x	as long as short
Phemex VVVUSDT	+0.0100%	4h	30.713	−0.092%	$2.0M	$2.1M	50x	as long as short
edgeX VVVUSDC	+0.0102%	4h	30.794	+0.171%	$77K	$333K	10x	as long as short
Extended VVV-USD	+0.0104%	1h	30.770	+0.093%	$290K	$1.9M	5x	as long as short
Aevo VVV-PERP	+0.0104%	1h	30.719	−0.074%	$6K	—	3x	as long as short
BloFin VVV-USDT	+0.0127%	4h	30.809	+0.221%	$1.3M	$1.6M	25x	as long as short
Kalshi KXVVVPERPshort	+0.0157%	8h	30.746	+0.016%	$96K	$5.7M	1.7x
Backpack VVV_USDC_PERP	+0.0169%	1h	30.737	−0.013%	$119K	$253K	5x	as long as short
Phoenix VVV	+0.0182%	1h	30.866	+0.406%	$32K	$253K	5x	as long as short
GMX VVV/USD [ETH-USDC]	L +0.0427% / S −0.0174%	1h	30.687	−0.178%	$538K	—	100x	as long as short