Funding arb · Price arb /

VVV

all VVV markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.1178%/8h= −129.0% APRpaid last 24h −0.074%

Price spread now: Binance against Backpack−0.150%7-day average −0.042% · you buy dearer than you sell

Net, funding: paid 7d − costs−$122as in the Funding arb table

Net, price: spread back to 7d avg − costs−$70as in the Price arb table

costs, in and out, $10k−$600.596% of the position

Long on Backpack Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days−0.629%−$63 on $10k

Price spread, last 4 days (all we have)+0.153%+$15 · spread now −0.150%, 7d avg −0.042%

Together, before fees−0.476%−$48 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$35 a day on $10k at the current rate, and Binance is 0.108% cheaper against Backpack than usual: you would sell low and buy high (−$11 if the spread goes back to its 7-day average of −0.042%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.629% in total (about -32.8% 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	Backpack VVV_USDC_PERP	31.548	0.1278	pay 0.0160% / 1h	57m 43s	$160K	$268K	5x
Short	Binance VVVUSDT	31.500	0.0100	get 0.0050% / 4h	3h 57m	$33.6M	$110.8M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Backpack. 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 BackpackbpFee BinancebpOrdersPrice spread, now −0.150%Rate

Funding earned: −$247.32
Price spread: −0.150% → −0.042%: −$10.8
Slippage, 4 orders: −$39.56
Fee Backpack: 5 bp × 2 orders: −$10
Fee Binance: 5 bp × 2 orders: −$10
Net: −$317.68
Costs to cover: 0.596%
Break-even: never at this rate

Slippage from Backpack: live order book, 41 min ago; Binance: live order book, 15 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 Backpack live order book, 41 min ago	1.96 bp	14.3 bp −$14	doesn't fit	doesn't fit	doesn't fit
Sell Binance live order book, 15 min ago	0.16 bp	14.7 bp −$15	38.5 bp −$385	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	−0.0349%	1h	31.511	−0.116%	$389K	$672K	5x	as long as short
Kalshi KXVVVPERP	0.0000%	8h	31.517	−0.098%	$93K	$5.3M	1.7x	as long as short
Coinbase International VVV-PERP-INTX	0.0000%	1h	31.592	+0.140%	$188K	$1.3M	25x	as long as short
gTrade (Gains Network) VVV/USD	L +0.0004% / S −0.0004%	1h	31.495	−0.168%	$19K	—	150x	as long as short
Injective VVV/USDC PERP	+0.0033%	1h	32.820	+4.033%	$2K	$1K	5.5x	as long as short
Lighter VVV	+0.0096%	1h	31.489	−0.187%	$1.9M	$4.1M	5x	as long as short
Lighter RH VVV	+0.0096%	1h	31.493	−0.174%	$464K	$1.5M	5x	as long as short
Paradex VVV-USD-PERP	+0.0100%	8h	31.483	−0.206%	$3K	$73	5x	as long as short
Nado VVV-PERP	+0.0100%	1h	31.544	−0.010%	$163K	$952K	3x	as long as short
Hyperliquid VVV	+0.0100%	1h	31.527	−0.066%	$70.3M	$44.2M	3x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster VVVUSDT	+0.0100%	4h	31.506	−0.131%	$249K	$535K	10x	as long as short
Pacifica VVV	+0.0100%	1h	31.496	−0.165%	$185K	$121K	10x	as long as short
Binance VVVUSDTshort	+0.0100%	4h	31.500	−0.150%	$33.6M	$110.8M	25x
Bybit VVVUSDT	+0.0100%	4h	31.475	−0.232%	$38.4M	$39.5M	20x	as long as short
OKX VVV-USDT-SWAP	+0.0100%	4h	31.481	−0.212%	$4.8M	$27.5M	20x	as long as short
Gate VVV_USDT	+0.0100%	4h	31.483	−0.205%	$11.8M	$4.7M	25x	as long as short
MEXC VVV_USDT	+0.0100%	4h	31.503	−0.142%	$6.9M	$4.8M	50x	as long as short
KuCoin VVVUSDTM	+0.0100%	4h	31.478	−0.221%	$1.7M	$2.7M	20x	as long as short
Bitget VVVUSDT	+0.0100%	4h	31.483	−0.205%	$5.7M	$6.4M	20x	as long as short
BingX VVV-USDT	+0.0100%	4h	31.498	−0.158%	—	$4.6M	—	as long as short
Variational Omni VVV	+0.0100%	4h	31.421	−0.403%	$2.0M	$357K	—	as long as short
Polymarket Perps VVV-USD	+0.0100%	1h	31.523	−0.079%	$130K	$1.3M	3x	as long as short
Derive VVV-PERP	+0.0100%	1h	31.449	−0.314%	$3K	$3K	5x	as long as short
Phemex VVVUSDT	+0.0100%	4h	31.521	−0.085%	$2.0M	$2.1M	50x	as long as short
Extended VVV-USD	+0.0104%	1h	31.493	−0.172%	$293K	$1.9M	5x	as long as short
Aevo VVV-PERP	+0.0104%	1h	31.502	−0.144%	$6K	—	3x	as long as short
edgeX VVVUSDC	+0.0110%	4h	31.458	−0.284%	$78K	$331K	10x	as long as short
BloFin VVV-USDT	+0.0112%	4h	31.482	−0.209%	$1.3M	$1.4M	25x	as long as short
Phoenix VVV	+0.0203%	1h	31.454	−0.297%	$33K	$197K	5x	as long as short
Deribit VVV_USDC-PERPETUAL	+0.0239%	1h	31.521	−0.085%	$88K	$22K	10x	as long as short
01 Exchange VVVUSD	+0.0400%	1h	31.519	−0.091%	$11K	$2K	3x	as long as short
GMX VVV/USD [ETH-USDC]	L +0.0442% / S −0.0215%	1h	31.502	−0.146%	$507K	—	100x	as long as short
Backpack VVV_USDC_PERPlong	+0.1278%	1h	31.548	long leg	$160K	$268K	5x