Funding arb · Price arb /

VVV

all VVV markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0122%/8h= −13.3% APRpaid last 24h −0.079%

Price spread now: MEXC against Backpack+0.015%7-day average −0.043% · you sell dearer than you buy

Net, funding: paid 7d − costs−$101as in the Funding arb table

Net, price: spread back to 7d avg − costs−$33as in the Price arb table

costs, in and out, $10k−$390.385% of the position

Long on Backpack Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days−0.620%−$62 on $10k

Price spread, last 4 days (all we have)−0.086%−$9 · spread now +0.015%, 7d avg −0.043%

Together, before fees−0.706%−$71 on $10k · with fees, hour by hour

The price spread pays, funding is against you. MEXC is 0.058% dearer against Backpack than usual: you sell high and buy low (spread +0.015% now, against its 7-day average of −0.043%): +$6 on $10k if it goes back. Holding the pair costs −$4 a day in funding at the current rate, which eats that in about 38 hours. At the pace of the last 7 days (−0.620% in total) that is about 16 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack VVV_USDC_PERP	30.432	0.0222	pay 0.0028% / 1h	29m 01s	$120K	$244K	5x
Short	MEXC VVV_USDT	30.437	0.0100	get 0.0050% / 4h	3h 29m	$6.2M	$5.8M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now +0.015%Rate

Funding earned: −$25.54
Price spread: +0.015% → −0.043%: $5.85
Slippage, 4 orders: −$28.54
Fee Backpack: 5 bp × 2 orders: −$10
Fee MEXC: 0 bp × 2 orders: $0
Net: −$58.23
Costs to cover: 0.385%
Break-even: never at this rate

Slippage from Backpack: live order book, 24 min ago; MEXC: 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, 24 min ago	2.27 bp	15.7 bp −$16	doesn't fit	doesn't fit	doesn't fit
Sell MEXC live order book, 4 min ago	0.33 bp	4.2 bp −$4	52.5 bp −$525	231.6 bp −$23.2K	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
RISEx VVV/USDC	−0.0417%	1h	30.390	−0.140%	$373K	$638K	5x	as long as short
Polymarket Perps VVV-USD	−0.0129%	1h	30.410	−0.074%	$111K	$1.2M	3x	as long as short
Coinbase International VVV-PERP-INTX	−0.0088%	1h	30.400	−0.106%	$148K	$1.2M	25x	as long as short
gTrade (Gains Network) VVV/USD	L +0.0004% / S −0.0003%	1h	30.429	−0.012%	$20K	—	150x	as long as short
Injective VVV/USDC PERP	+0.0033%	1h	32.820	+7.846%	$2K	$1K	5.5x	as long as short
01 Exchange VVVUSD	+0.0064%	1h	30.409	−0.077%	$11K	$3K	3x	as long as short
Lighter VVV	+0.0096%	1h	30.429	−0.011%	$2.0M	$5.2M	5x	as long as short
Lighter RH VVV	+0.0096%	1h	30.441	+0.028%	$444K	$1.6M	5x	as long as short
Paradex VVV-USD-PERP	+0.0100%	8h	30.418	−0.048%	$3K	$73	5x	as long as short
Nado VVV-PERP	+0.0100%	1h	30.421	−0.039%	$140K	$867K	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	30.404	−0.093%	$68.8M	$49.0M	3x	as long as short
Aster VVVUSDT	+0.0100%	4h	30.393	−0.130%	$242K	$1.1M	10x	as long as short
Pacifica VVV	+0.0100%	1h	30.390	−0.139%	$179K	$132K	10x	as long as short
Binance VVVUSDT	+0.0100%	4h	30.397	−0.116%	$32.7M	$126.5M	25x	as long as short
Bybit VVVUSDT	+0.0100%	4h	30.378	−0.179%	$37.9M	$42.6M	20x	as long as short
OKX VVV-USDT-SWAP	+0.0100%	4h	30.390	−0.139%	$4.7M	$31.4M	20x	as long as short
Gate VVV_USDT	+0.0100%	4h	30.398	−0.113%	$10.3M	$5.8M	25x	as long as short
MEXC VVV_USDTshort	+0.0100%	4h	30.437	+0.015%	$6.2M	$5.8M	50x
KuCoin VVVUSDTM	+0.0100%	4h	30.381	−0.169%	$1.8M	$2.8M	20x	as long as short
Bitget VVVUSDT	+0.0100%	4h	30.384	−0.159%	$5.6M	$7.3M	20x	as long as short
BingX VVV-USDT	+0.0100%	4h	30.424	−0.028%	—	$5.0M	—	as long as short
Variational Omni VVV	+0.0100%	4h	30.479	+0.152%	$1.9M	$350K	—	as long as short
Derive VVV-PERP	+0.0100%	1h	30.424	−0.028%	$3K	$3K	5x	as long as short
Phemex VVVUSDT	+0.0100%	4h	30.442	+0.032%	$2.0M	$2.1M	50x	as long as short
edgeX VVVUSDC	+0.0103%	4h	30.462	+0.096%	$76K	$335K	10x	as long as short
Extended VVV-USD	+0.0104%	1h	30.394	−0.126%	$294K	$1.9M	5x	as long as short
Aevo VVV-PERP	+0.0104%	1h	30.409	−0.078%	$6K	—	3x	as long as short
BloFin VVV-USDT	+0.0128%	4h	30.441	+0.028%	$1.3M	$1.5M	25x	as long as short
Phoenix VVV	+0.0129%	1h	30.417	−0.051%	$32K	$257K	5x	as long as short
Kalshi KXVVVPERP	+0.0157%	8h	30.340	−0.304%	$102K	$5.5M	1.7x	as long as short
Backpack VVV_USDC_PERPlong	+0.0222%	1h	30.432	long leg	$120K	$244K	5x
Deribit VVV_USDC-PERPETUAL	+0.0223%	1h	30.446	+0.044%	$85K	$23K	10x	as long as short
GMX VVV/USD [ETH-USDC]	L +0.0424% / S −0.0174%	1h	30.429	−0.010%	$533K	—	100x	as long as short