Funding arb · Price arb /

VVV

all VVV markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0019%/8h= −2.1% APRpaid last 24h −0.116%

Price spread now: Bitget against Backpack−0.100%7-day average −0.119% · you buy dearer than you sell

Net, funding: paid 7d − costs−$145as in the Funding arb table

Net, price: spread back to 7d avg − costs−$74as in the Price arb table

costs, in and out, $10k−$760.764% of the position

Long on Backpack Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days−0.683%−$68 on $10k

Price spread, last 4 days (all we have)+0.007%+$1 · spread now −0.100%, 7d avg −0.119%

Together, before fees−0.676%−$68 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.119%, so right now this pair is about funding alone: −$1 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack VVV_USDC_PERP	31.927	0.0119	pay 0.0015% / 1h	5m 44s	$124K	$348K	5x
Short	Bitget VVVUSDT	31.895	0.0100	get 0.0050% / 4h	5m 44s	$5.8M	$8.9M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget 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 BitgetbpOrdersPrice spread, now −0.100%Rate

Funding earned: −$4
Price spread: −0.100% → −0.119%: $1.96
Slippage, 4 orders: −$54.4
Fee Backpack: 5 bp × 2 orders: −$10
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$78.45
Costs to cover: 0.764%
Break-even: never at this rate

Slippage from Backpack: live order book, 8 min ago; Bitget: 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 Backpack live order book, 8 min ago	3.50 bp	20.1 bp −$20	doesn't fit	doesn't fit	doesn't fit
Sell Bitget live order book, 3 min ago	4.86 bp	19.9 bp −$20	55.9 bp −$559	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	−0.0133%	1h	31.881	−0.144%	$90K	$23K	10x	as long as short
Polymarket Perps VVV-USD	−0.0037%	1h	31.860	−0.210%	$145K	$1.2M	3x	as long as short
01 Exchange VVVUSD	0.0000%	1h	31.909	−0.056%	$11K	$3K	3x	as long as short
Kalshi KXVVVPERP	0.0000%	8h	31.981	+0.169%	$107K	$6.8M	1.7x	as long as short
gTrade (Gains Network) VVV/USD	L +0.0004% / S −0.0004%	1h	31.900	−0.084%	$19K	—	150x	as long as short
Injective VVV/USDC PERP	+0.0033%	1h	32.820	+2.797%	$2K	$1K	5.5x	as long as short
RISEx VVV/USDC	+0.0040%	1h	31.912	−0.048%	$392K	$602K	5x	as long as short
Lighter VVV	+0.0096%	1h	31.910	−0.051%	$2.2M	$6.1M	5x	as long as short
Lighter RH VVV	+0.0096%	1h	31.904	−0.072%	$475K	$1.6M	5x	as long as short
Nado VVV-PERP	+0.0100%	1h	31.887	−0.123%	$126K	$850K	3x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid VVV	+0.0100%	1h	31.933	+0.019%	$74.1M	$55.3M	3x	as long as short
Aster VVVUSDT	+0.0100%	4h	31.923	−0.012%	$261K	$1.9M	10x	as long as short
Pacifica VVV	+0.0100%	1h	31.933	+0.020%	$191K	$191K	10x	as long as short
Binance VVVUSDT	+0.0100%	4h	31.920	−0.023%	$33.5M	$155.9M	25x	as long as short
Bybit VVVUSDT	+0.0100%	4h	31.914	−0.040%	$39.2M	$51.8M	20x	as long as short
OKX VVV-USDT-SWAP	+0.0100%	4h	31.928	+0.003%	$4.6M	$42.0M	20x	as long as short
Gate VVV_USDT	+0.0100%	4h	31.918	−0.028%	$10.7M	$7.6M	25x	as long as short
MEXC VVV_USDT	+0.0100%	4h	31.925	−0.006%	$6.4M	$7.1M	50x	as long as short
KuCoin VVVUSDTM	+0.0100%	4h	31.919	−0.025%	$2.0M	$2.8M	20x	as long as short
Bitget VVVUSDTshort	+0.0100%	4h	31.895	−0.100%	$5.8M	$8.9M	20x
BingX VVV-USDT	+0.0100%	4h	31.916	−0.034%	—	$5.5M	—	as long as short
Variational Omni VVV	+0.0100%	4h	31.870	−0.179%	$2.1M	$183K	—	as long as short
Derive VVV-PERP	+0.0100%	1h	31.897	−0.095%	$2K	$2K	5x	as long as short
Phemex VVVUSDT	+0.0100%	4h	31.916	−0.034%	$2.1M	$2.1M	50x	as long as short
Paradex VVV-USD-PERP	+0.0100%	8h	31.916	−0.034%	$3K	$106	5x	as long as short
Extended VVV-USD	+0.0104%	1h	31.918	−0.027%	$300K	$1.6M	5x	as long as short
Aevo VVV-PERP	+0.0104%	1h	31.896	−0.096%	$6K	$13K	3x	as long as short
BloFin VVV-USDT	+0.0106%	4h	31.934	+0.022%	$1.3M	$1.8M	25x	as long as short
edgeX VVVUSDC	+0.0108%	4h	31.888	−0.121%	$79K	$334K	10x	as long as short
Backpack VVV_USDC_PERPlong	+0.0119%	1h	31.927	long leg	$124K	$348K	5x
Phoenix VVV	+0.0124%	1h	31.884	−0.134%	$56K	$299K	5x	as long as short
GMX VVV/USD [ETH-USDC]	L +0.0179% / S +0.0120%	1h	31.887	−0.124%	$577K	—	100x	as long as short
Coinbase International VVV-PERP-INTX	+0.0192%	1h	32.278	+1.099%	$242K	$1.3M	25x	as long as short