VVV

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0091%/8h= −10.0% APRnext payment −$0.11 per $10,000 · paid last 24h −0.115%

Price spread now: Coinbase International against Backpack−0.335%52s7-day average −0.051% · you buy dearer than you sell

Net, funding: paid 7d − costs−$124as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$660.661% of the position

Long on Backpack Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days−0.579%−$58 on $10k

Price spread, last 3 days (all we have)−0.142%−$14 · spread now −0.335%, 7d avg −0.051%

Together, before fees−0.721%−$72 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and Coinbase International is 0.284% cheaper against Backpack than usual: you would sell low and buy high (−$28 if the spread goes back to its 7-day average of −0.051%). Swap the legs. The two prices were read 52 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack VVV_USDC_PERP	31.702	0.0299	pay 0.0037% / 1h	24m 13s	$122K	$317K	5x
Short	Coinbase International VVV-PERP-INTX	31.596	0.0208	get 0.0026% / 1h	24m 13s	$232K	$1.2M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International 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 Coinbase InternationalbpOrdersPrice spread, now −0.335%Rate

Funding earned: −$19.2
Price spread: −0.335% → −0.051%: −$28.38
Slippage, 4 orders: −$46.13
Fee Backpack: 5 bp × 2 orders: −$10
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$113.72
Costs to cover: 0.661%
Break-even: never at this rate

Slippage from Backpack: live order book, 44 min ago; Coinbase International: live order book, 4 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, 44 min ago	2.44 bp	14.7 bp −$15	doesn't fit	doesn't fit	doesn't fit
Sell Coinbase International live order book, 4 min ago	6.39 bp	20.6 bp −$21	27.7 bp −$277	doesn't fit	doesn't fit

VVV on 32 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	−0.0111%	1h	31.633	−0.219%	$388K	$631K	5x	as long as short
Gate VVV_USDT	−0.0046%	4h	31.628	−0.234%	$10.6M	$7.1M	25x	as long as short
Polymarket Perps VVV-USD	−0.0037%	1h	31.622	−0.253%	$135K	$1.2M	3x	as long as short
Kalshi KXVVVPERP	0.0000%	8h	31.692	−0.032%	$120K	$6.4M	1.7x	as long as short
Phoenix VVV	0.0000%	1h	31.792	+0.283%	$48K	$289K	5x	as long as short
Deribit VVV_USDC-PERPETUAL	0.0000%	1h	31.640	−0.197%	$88K	$24K	10x	as long as short
gTrade (Gains Network) VVV/USD	L +0.0004% / S −0.0004%	1h	31.656	−0.147%	$2K	—	150x	as long as short
Injective VVV/USDC PERP	+0.0033%	1h	32.820	+3.526%	$2K	$1K	5.5x	as long as short
Lighter VVV	+0.0096%	1h	31.645	−0.181%	$2.1M	$5.6M	5x	as long as short
Lighter RH VVV	+0.0096%	1h	31.634	−0.215%	$467K	$1.5M	5x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Paradex VVV-USD-PERP	+0.0100%	8h	31.631	−0.225%	$3K	$73	5x	as long as short
Nado VVV-PERP	+0.0100%	1h	31.646	−0.176%	$131K	$847K	3x	as long as short
Hyperliquid VVV	+0.0100%	1h	31.659	−0.137%	$73.0M	$53.5M	3x	as long as short
Aster VVVUSDT	+0.0100%	4h	31.654	−0.152%	$256K	$1.8M	10x	as long as short
Pacifica VVV	+0.0100%	1h	31.667	−0.112%	$189K	$163K	10x	as long as short
Binance VVVUSDT	+0.0100%	4h	31.647	−0.174%	$33.7M	$149.0M	25x	as long as short
Bybit VVVUSDT	+0.0100%	4h	31.639	−0.200%	$38.7M	$50.5M	20x	as long as short
OKX VVV-USDT-SWAP	+0.0100%	4h	31.653	−0.156%	$4.7M	$39.9M	20x	as long as short
MEXC VVV_USDT	+0.0100%	4h	31.649	−0.168%	$6.4M	$6.9M	50x	as long as short
KuCoin VVVUSDTM	+0.0100%	4h	31.652	−0.159%	$1.8M	$2.8M	20x	as long as short
Bitget VVVUSDT	+0.0100%	4h	31.626	−0.241%	$5.7M	$8.5M	20x	as long as short
BingX VVV-USDT	+0.0100%	4h	31.656	−0.146%	—	$5.4M	—	as long as short
Variational Omni VVV	+0.0100%	4h	31.714	+0.038%	$2.1M	$185K	—	as long as short
Derive VVV-PERP	+0.0100%	1h	31.634	−0.216%	$3K	$3K	5x	as long as short
Phemex VVVUSDT	+0.0100%	4h	31.670	−0.102%	$2.0M	$2.1M	50x	as long as short
Extended VVV-USD	+0.0104%	1h	31.635	−0.211%	$300K	$1.9M	5x	as long as short
01 Exchange VVVUSD	+0.0104%	1h	31.637	−0.206%	$11K	$3K	3x	as long as short
Aevo VVV-PERP	+0.0104%	1h	31.653	−0.154%	$6K	—	3x	as long as short
edgeX VVVUSDC	+0.0116%	4h	31.796	+0.295%	$79K	$334K	10x	as long as short
GMX VVV/USD [ETH-USDC]	L +0.0176% / S +0.0123%	1h	31.639	−0.200%	$572K	—	100x	as long as short
Coinbase International VVV-PERP-INTXshort	+0.0208%	1h	31.596	−0.335%	$232K	$1.2M	25x
Backpack VVV_USDC_PERPlong	+0.0299%	1h	31.702	long leg	$122K	$317K	5x