Funding arb · Price arb /

VVV

all VVV markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0129%/8h= −14.2% APRpaid last 24h −0.115%

Price spread now: KuCoin against Backpack−0.059%7-day average −0.100% · you buy dearer than you sell

Net, funding: paid 7d − costs−$177as in the Funding arb table

Net, price: spread back to 7d avg − costs−$104as in the Price arb table

costs, in and out, $10k−$1081.082% of the position

Long on Backpack Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.686%−$69 on $10k

Price spread, last 4 days (all we have)−0.040%−$4 · spread now −0.059%, 7d avg −0.100%

Together, before fees−0.727%−$73 on $10k · with fees, hour by hour

The price spread pays, funding is against you. KuCoin is 0.041% dearer against Backpack than usual: you sell high and buy low (spread −0.059% now, against its 7-day average of −0.100%): +$4 on $10k if it goes back. Holding the pair costs −$4 a day in funding at the current rate, which eats that in about 25 hours. At the pace of the last 7 days (−0.686% in total) that is about 10 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack VVV_USDC_PERP	32.299	0.0229	pay 0.0029% / 1h	13m 38s	$122K	$373K	5x
Short	KuCoin VVVUSDTM	32.280	0.0100	get 0.0050% / 4h	1h 13m	$2.0M	$2.9M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now −0.059%Rate

Funding earned: −$27.19
Price spread: −0.059% → −0.100%: $4.05
Slippage, 4 orders: −$86.18
Fee Backpack: 5 bp × 2 orders: −$10
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$131.31
Costs to cover: 1.082%
Break-even: never at this rate

Slippage from Backpack: live order book, 5 min ago; KuCoin: 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, 5 min ago	2.36 bp	17.8 bp −$18	doesn't fit	doesn't fit	doesn't fit
Sell KuCoin live order book, 3 min ago	10.56 bp	39.1 bp −$39	246.4 bp −$2,464	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	0.0000%	1h	32.285	−0.044%	$91K	$23K	10x	as long as short
gTrade (Gains Network) VVV/USD	L +0.0004% / S −0.0004%	1h	32.295	−0.014%	$19K	—	150x	as long as short
Injective VVV/USDC PERP	+0.0033%	1h	32.820	+1.612%	$2K	$1K	5.5x	as long as short
Lighter VVV	+0.0096%	1h	32.243	−0.173%	$2.3M	$5.5M	5x	as long as short
Lighter RH VVV	+0.0096%	1h	32.238	−0.189%	$479K	$1.6M	5x	as long as short
Phoenix VVV	+0.0098%	1h	32.131	−0.521%	$56K	$294K	5x	as long as short
Nado VVV-PERP	+0.0100%	1h	32.297	−0.005%	$149K	$783K	3x	as long as short
Aster VVVUSDT	+0.0100%	4h	32.271	−0.087%	$265K	$1.9M	10x	as long as short
Pacifica VVV	+0.0100%	1h	32.269	−0.093%	$185K	$183K	10x	as long as short
Binance VVVUSDT	+0.0100%	4h	32.220	−0.245%	$33.7M	$157.5M	25x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit VVVUSDT	+0.0100%	4h	32.203	−0.298%	$39.6M	$52.8M	20x	as long as short
OKX VVV-USDT-SWAP	+0.0100%	4h	32.234	−0.202%	$4.7M	$42.9M	20x	as long as short
Gate VVV_USDT	+0.0100%	4h	32.231	−0.211%	$10.9M	$7.8M	25x	as long as short
MEXC VVV_USDT	+0.0100%	4h	32.218	−0.251%	$6.3M	$7.1M	50x	as long as short
KuCoin VVVUSDTMshort	+0.0100%	4h	32.280	−0.059%	$2.0M	$2.9M	20x
Bitget VVVUSDT	+0.0100%	4h	32.200	−0.307%	$5.9M	$8.9M	20x	as long as short
BingX VVV-USDT	+0.0100%	4h	32.252	−0.146%	—	$5.5M	—	as long as short
Variational Omni VVV	+0.0100%	4h	32.172	−0.392%	$2.1M	$183K	—	as long as short
Polymarket Perps VVV-USD	+0.0100%	1h	32.288	−0.035%	$139K	$1.2M	3x	as long as short
Derive VVV-PERP	+0.0100%	1h	32.291	−0.025%	$1K	$1K	5x	as long as short
Phemex VVVUSDT	+0.0100%	4h	32.276	−0.072%	$2.1M	$2.1M	50x	as long as short
Kalshi KXVVVPERP	+0.0100%	8h	32.306	+0.021%	$109K	$6.9M	1.7x	as long as short
Paradex VVV-USD-PERP	+0.0100%	8h	32.254	−0.139%	$3K	$106	5x	as long as short
Extended VVV-USD	+0.0104%	1h	32.203	−0.297%	$325K	$1.6M	5x	as long as short
Aevo VVV-PERP	+0.0104%	1h	32.283	−0.049%	$6K	$13K	3x	as long as short
BloFin VVV-USDT	+0.0112%	4h	32.300	+0.002%	$1.3M	$1.8M	25x	as long as short
edgeX VVVUSDC	+0.0112%	4h	32.191	−0.336%	$80K	$333K	10x	as long as short
Coinbase International VVV-PERP-INTX	+0.0144%	1h	32.319	+0.061%	$239K	$1.3M	25x	as long as short
RISEx VVV/USDC	+0.0175%	1h	32.207	−0.286%	$395K	$605K	5x	as long as short
GMX VVV/USD [ETH-USDC]	L +0.0186% / S +0.0168%	1h	32.295	−0.014%	$621K	—	100x	as long as short
Backpack VVV_USDC_PERPlong	+0.0229%	1h	32.299	long leg	$122K	$373K	5x
Hyperliquid VVV	+0.0296%	1h	32.264	−0.109%	$74.9M	$56.1M	3x	as long as short
01 Exchange VVVUSD	+0.0328%	1h	32.208	−0.282%	$12K	$3K	3x	as long as short