VVV

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0102%/8h= −11.1% APRnext payment −$0.13 per $10,000 · paid last 24h −0.007%

Price spread now: Hyperliquid against Backpack+0.012%7-day average −0.001% · you sell dearer than you buy

Net, funding: paid 7d − costs−$97as in the Funding arb table

Net, price: spread back to 7d avg − costs−$49as in the Price arb table

costs, in and out, $10k−$510.507% of the position

Long on Backpack Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days−0.467%−$47 on $10k

Price spread, last 4 days (all we have)+0.299%+$30 · spread now +0.012%, 7d avg −0.001%

Together, before fees−0.168%+ Points / potential airdropHyperliquid: Season 2 · farm board−$17 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.001%, so right now this pair is about funding alone: −$3 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	31.506	0.0202	pay 0.0025% / 1h	38m 05s	$119K	$379K	5x
Short	Hyperliquid VVV	31.509	0.0100	get 0.0013% / 1h	38m 05s	$71.9M	$54.1M	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid 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 HyperliquidbpOrdersPrice spread, now +0.012%Rate

Funding earned: −$21.35
Price spread: +0.012% → −0.001%: $1.36
Slippage, 4 orders: −$31.67
Fee Backpack: 5 bp × 2 orders: −$10
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$70.65
Costs to cover: 0.507%
Break-even: never at this rate

Slippage from Backpack: live order book, 50 min ago; Hyperliquid: live order book, 6 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, 50 min ago	3.00 bp	16.3 bp −$16	doesn't fit	doesn't fit	doesn't fit
Sell Hyperliquid live order book, 6 min ago	1.12 bp	15.6 bp −$16	doesn't fit	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
01 Exchange VVVUSD	−0.0040%	1h	31.417	−0.281%	$11K	$3K	3x	as long as short
Kalshi KXVVVPERP	0.0000%	8h	31.426	−0.252%	$117K	$6.8M	1.7x	as long as short
Deribit VVV_USDC-PERPETUAL	0.0000%	1h	31.444	−0.196%	$90K	$22K	10x	as long as short
gTrade (Gains Network) VVV/USD	L +0.0004% / S −0.0004%	1h	31.441	−0.206%	$18K	—	150x	as long as short
Injective VVV/USDC PERP	+0.0033%	1h	32.820	+4.172%	$2K	$1K	5.5x	as long as short
BloFin VVV-USDT	+0.0050%	4h	31.374	−0.417%	$1.3M	$1.7M	25x	as long as short
Polymarket Perps VVV-USD	+0.0066%	1h	31.406	−0.316%	$134K	$1.2M	3x	as long as short
Phoenix VVV	+0.0077%	1h	31.382	−0.392%	$55K	$292K	5x	as long as short
RISEx VVV/USDC	+0.0078%	1h	31.404	−0.323%	$385K	$574K	5x	as long as short
Lighter VVV	+0.0096%	1h	31.470	−0.113%	$2.2M	$5.4M	5x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter RH VVV	+0.0096%	1h	31.458	−0.151%	$464K	$1.6M	5x	as long as short
Nado VVV-PERP	+0.0100%	1h	31.407	−0.311%	$144K	$781K	3x	as long as short
Hyperliquid VVVshort	+0.0100%	1h	31.509	+0.012%	$71.9M	$54.1M	3x
Aster VVVUSDT	+0.0100%	4h	31.428	−0.245%	$276K	$1.8M	10x	as long as short
Pacifica VVV	+0.0100%	1h	31.429	−0.243%	$187K	$176K	10x	as long as short
Binance VVVUSDT	+0.0100%	4h	31.481	−0.076%	$33.3M	$154.4M	25x	as long as short
Bybit VVVUSDT	+0.0100%	4h	31.474	−0.099%	$38.8M	$51.7M	20x	as long as short
OKX VVV-USDT-SWAP	+0.0100%	4h	31.490	−0.049%	$4.7M	$41.1M	20x	as long as short
Gate VVV_USDT	+0.0100%	4h	31.458	−0.151%	$10.6M	$7.7M	25x	as long as short
MEXC VVV_USDT	+0.0100%	4h	31.453	−0.167%	$16.9M	$6.9M	50x	as long as short
KuCoin VVVUSDTM	+0.0100%	4h	31.442	−0.202%	$2.3M	$2.6M	20x	as long as short
Bitget VVVUSDT	+0.0100%	4h	31.455	−0.160%	$5.7M	$8.6M	20x	as long as short
BingX VVV-USDT	+0.0100%	4h	31.488	−0.056%	—	$5.4M	—	as long as short
Variational Omni VVV	+0.0100%	4h	31.327	−0.566%	$2.1M	$184K	—	as long as short
Derive VVV-PERP	+0.0100%	1h	31.434	−0.227%	$1K	$1K	5x	as long as short
Phemex VVVUSDT	+0.0100%	4h	31.440	−0.208%	$2.1M	$2.0M	50x	as long as short
Paradex VVV-USD-PERP	+0.0100%	8h	31.404	−0.322%	$3K	$106	5x	as long as short
Extended VVV-USD	+0.0104%	1h	31.486	−0.062%	$314K	$1.6M	5x	as long as short
Aevo VVV-PERP	+0.0104%	1h	31.416	−0.283%	$6K	$13K	3x	as long as short
edgeX VVVUSDC	+0.0114%	4h	31.349	−0.496%	$78K	$330K	10x	as long as short
Backpack VVV_USDC_PERPlong	+0.0202%	1h	31.506	long leg	$119K	$379K	5x
Coinbase International VVV-PERP-INTX	+0.0232%	1h	31.325	−0.574%	$172K	$1.2M	25x	as long as short
GMX VVV/USD [ETH-USDC]	L +0.0443% / S −0.0195%	1h	31.434	−0.227%	$537K	—	100x	as long as short