Funding arb · Price arb /

VVV

all VVV markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0346%/8h= −37.9% APRpaid last 24h −0.115%

Price spread now: Gate against Backpack−0.065%7-day average −0.137% · you buy dearer than you sell

Net, funding: paid 7d − costs−$160as in the Funding arb table

Net, price: spread back to 7d avg − costs−$75as in the Price arb table

costs, in and out, $10k−$820.822% of the position

Long on Backpack Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−0.773%−$77 on $10k

Price spread, last 4 days (all we have)−0.059%−$6 · spread now −0.065%, 7d avg −0.137%

Together, before fees−0.832%−$83 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Gate is 0.072% dearer against Backpack than usual: you sell high and buy low (spread −0.065% now, against its 7-day average of −0.137%): +$7 on $10k if it goes back. Holding the pair costs −$10 a day in funding at the current rate, which eats that in about 17 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack VVV_USDC_PERP	31.847	0.0298	pay 0.0037% / 1h	28m 19s	$123K	$318K	5x
Short	Gate VVV_USDT	31.826	−0.0048	pay 0.0024% / 4h	2h 28m	$10.7M	$7.1M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now −0.065%Rate

Funding earned: −$72.68
Price spread: −0.065% → −0.137%: $7.15
Slippage, 4 orders: −$57.18
Fee Backpack: 5 bp × 2 orders: −$10
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$147.71
Costs to cover: 0.822%
Break-even: never at this rate

Slippage from Backpack: live order book, 40 min ago; Gate: live order book, 5 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, 40 min ago	2.44 bp	14.7 bp −$15	doesn't fit	doesn't fit	doesn't fit
Sell Gate live order book, 5 min ago	1.73 bp	29.5 bp −$30	154.3 bp −$1,543	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	31.814	−0.103%	$399K	$621K	5x	as long as short
Gate VVV_USDTshort	−0.0048%	4h	31.826	−0.065%	$10.7M	$7.1M	25x
Polymarket Perps VVV-USD	−0.0025%	1h	31.812	−0.109%	$146K	$1.1M	3x	as long as short
Kalshi KXVVVPERP	0.0000%	8h	31.892	+0.142%	$120K	$6.4M	1.7x	as long as short
Phoenix VVV	0.0000%	1h	31.929	+0.258%	$49K	$289K	5x	as long as short
gTrade (Gains Network) VVV/USD	L +0.0004% / S −0.0004%	1h	31.832	−0.047%	$2K	—	150x	as long as short
Deribit VVV_USDC-PERPETUAL	+0.0023%	1h	31.846	−0.003%	$89K	$24K	10x	as long as short
Bybit VVVUSDT	+0.0025%	4h	31.836	−0.034%	$39.0M	$50.7M	20x	as long as short
Injective VVV/USDC PERP	+0.0033%	1h	32.820	+3.056%	$2K	$1K	5.5x	as long as short
Lighter VVV	+0.0096%	1h	31.798	−0.153%	$2.2M	$5.6M	5x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter RH VVV	+0.0096%	1h	31.799	−0.150%	$470K	$1.5M	5x	as long as short
01 Exchange VVVUSD	+0.0096%	1h	31.818	−0.090%	$11K	$3K	3x	as long as short
Paradex VVV-USD-PERP	+0.0100%	8h	31.816	−0.097%	$3K	$73	5x	as long as short
Nado VVV-PERP	+0.0100%	1h	31.828	−0.059%	$132K	$847K	3x	as long as short
Hyperliquid VVV	+0.0100%	1h	31.861	+0.045%	$73.5M	$53.7M	3x	as long as short
Aster VVVUSDT	+0.0100%	4h	31.831	−0.051%	$258K	$1.8M	10x	as long as short
Pacifica VVV	+0.0100%	1h	31.829	−0.057%	$190K	$163K	10x	as long as short
Binance VVVUSDT	+0.0100%	4h	31.835	−0.037%	$33.8M	$149.6M	25x	as long as short
OKX VVV-USDT-SWAP	+0.0100%	4h	31.857	+0.032%	$4.7M	$40.3M	20x	as long as short
MEXC VVV_USDT	+0.0100%	4h	31.831	−0.049%	$6.5M	$6.9M	50x	as long as short
KuCoin VVVUSDTM	+0.0100%	4h	31.814	−0.103%	$1.8M	$2.8M	20x	as long as short
Bitget VVVUSDT	+0.0100%	4h	31.810	−0.115%	$5.7M	$8.6M	20x	as long as short
BingX VVV-USDT	+0.0100%	4h	31.851	+0.014%	—	$5.4M	—	as long as short
Variational Omni VVV	+0.0100%	4h	31.875	+0.087%	$2.1M	$185K	—	as long as short
Derive VVV-PERP	+0.0100%	1h	31.830	−0.052%	$3K	$3K	5x	as long as short
Phemex VVVUSDT	+0.0100%	4h	31.844	−0.008%	$2.1M	$2.1M	50x	as long as short
Extended VVV-USD	+0.0104%	1h	31.852	+0.017%	$302K	$1.9M	5x	as long as short
Aevo VVV-PERP	+0.0104%	1h	31.865	+0.058%	$6K	—	3x	as long as short
edgeX VVVUSDC	+0.0109%	4h	31.927	+0.252%	$79K	$336K	10x	as long as short
GMX VVV/USD [ETH-USDC]	L +0.0176% / S +0.0123%	1h	31.828	−0.058%	$575K	—	100x	as long as short
Coinbase International VVV-PERP-INTX	+0.0208%	1h	31.919	+0.228%	$234K	$1.2M	25x	as long as short
Backpack VVV_USDC_PERPlong	+0.0298%	1h	31.847	long leg	$123K	$318K	5x