Funding arb · Price arb /

VVV

all VVV markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0041%/8h= −4.5% APRpaid last 24h −0.116%

Price spread now: Paradex against Backpack−0.231%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Backpack Short on Paradex

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropParadex: Active · farm boardneeds both histories

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Paradex is 0.231% cheaper against Backpack than usual: you would sell low and buy high (−$23 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack VVV_USDC_PERP	32.197	0.0141	pay 0.0018% / 1h	26m 56s	$122K	$358K	5x
Short	Paradex VVV-USD-PERP	32.123	0.0100	get 0.0100% / 8h	26m 56s	$3K	$106	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex 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 ParadexbpOrdersPrice spread, now −0.231%Rate

Funding earned: −$8.6
Price spread: −0.231% → 0.000%: −$23.15
Slippage, 4 orders: no order book: not counted
Fee Backpack: 5 bp × 2 orders: −$10
Fee Paradex: 2 bp × 2 orders: −$4
Net: −$45.74
Costs to cover: 0.140%
Break-even: never at this rate

Slippage unknown: Backpack: live order book, 52 min ago; Paradex: no order-book sample. Net counts fees only.

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, 52 min ago	2.36 bp	17.8 bp −$18	doesn't fit	doesn't fit	doesn't fit
Sell Paradex no order-book sample	—	—	—	—	—

Paradex: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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
Kalshi KXVVVPERP	0.0000%	8h	32.149	−0.150%	$110K	$6.9M	1.7x	as long as short
Deribit VVV_USDC-PERPETUAL	0.0000%	1h	32.147	−0.156%	$91K	$23K	10x	as long as short
gTrade (Gains Network) VVV/USD	L +0.0004% / S −0.0004%	1h	32.160	−0.115%	$19K	—	150x	as long as short
Injective VVV/USDC PERP	+0.0033%	1h	32.820	+1.934%	$2K	$1K	5.5x	as long as short
RISEx VVV/USDC	+0.0040%	1h	32.096	−0.315%	$395K	$604K	5x	as long as short
Polymarket Perps VVV-USD	+0.0044%	1h	32.132	−0.203%	$146K	$1.2M	3x	as long as short
01 Exchange VVVUSD	+0.0056%	1h	32.102	−0.296%	$11K	$3K	3x	as long as short
Lighter VVV	+0.0096%	1h	32.180	−0.053%	$2.3M	$5.5M	5x	as long as short
Lighter RH VVV	+0.0096%	1h	32.137	−0.187%	$478K	$1.6M	5x	as long as short
Nado VVV-PERP	+0.0100%	1h	32.132	−0.201%	$127K	$850K	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	32.203	+0.018%	$74.6M	$55.8M	3x	as long as short
Aster VVVUSDT	+0.0100%	4h	32.162	−0.109%	$264K	$1.9M	10x	as long as short
Pacifica VVV	+0.0100%	1h	32.117	−0.250%	$192K	$191K	10x	as long as short
Binance VVVUSDT	+0.0100%	4h	32.166	−0.098%	$33.7M	$156.6M	25x	as long as short
Bybit VVVUSDT	+0.0100%	4h	32.157	−0.125%	$39.5M	$52.2M	20x	as long as short
OKX VVV-USDT-SWAP	+0.0100%	4h	32.163	−0.107%	$4.7M	$42.5M	20x	as long as short
Gate VVV_USDT	+0.0100%	4h	32.154	−0.134%	$10.8M	$7.5M	25x	as long as short
MEXC VVV_USDT	+0.0100%	4h	32.162	−0.110%	$6.4M	$7.0M	50x	as long as short
KuCoin VVVUSDTM	+0.0100%	4h	32.164	−0.103%	$2.0M	$2.8M	20x	as long as short
Bitget VVVUSDT	+0.0100%	4h	32.157	−0.125%	$5.8M	$8.9M	20x	as long as short
BingX VVV-USDT	+0.0100%	4h	32.174	−0.072%	—	$5.5M	—	as long as short
Variational Omni VVV	+0.0100%	4h	32.089	−0.337%	$2.1M	$183K	—	as long as short
Derive VVV-PERP	+0.0100%	1h	32.140	−0.177%	$1K	$1K	5x	as long as short
Phemex VVVUSDT	+0.0100%	4h	32.166	−0.097%	$2.1M	$2.1M	50x	as long as short
Paradex VVV-USD-PERPshort	+0.0100%	8h	32.123	−0.231%	$3K	$106	5x
Extended VVV-USD	+0.0104%	1h	32.158	−0.123%	$323K	$1.6M	5x	as long as short
Aevo VVV-PERP	+0.0104%	1h	32.151	−0.145%	$6K	$13K	3x	as long as short
BloFin VVV-USDT	+0.0105%	4h	32.146	−0.159%	$1.3M	$1.8M	25x	as long as short
edgeX VVVUSDC	+0.0106%	4h	32.120	−0.240%	$80K	$332K	10x	as long as short
Phoenix VVV	+0.0124%	1h	32.130	−0.209%	$56K	$299K	5x	as long as short
Backpack VVV_USDC_PERPlong	+0.0141%	1h	32.197	long leg	$122K	$358K	5x
GMX VVV/USD [ETH-USDC]	L +0.0180% / S +0.0173%	1h	32.151	−0.145%	$618K	—	100x	as long as short
Coinbase International VVV-PERP-INTX	+0.0192%	1h	32.278	+0.250%	$242K	$1.3M	25x	as long as short