Funding arb · Price arb /

VVV

all VVV markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0019%/8h= +2.1% APRpaid last 24h +0.116%

Price spread now: Backpack against Bitget+0.100%7-day average +0.119% · you sell dearer than you buy

Net, funding: paid 7d − costs−$8as in the Funding arb table

Net, price: spread back to 7d avg − costs−$78as in the Price arb table

costs, in and out, $10k−$760.764% of the position

Long on Bitget Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 7 days+0.683%+$68 on $10k

Price spread, last 4 days (all we have)−0.007%−$1 · spread now +0.100%, 7d avg +0.119%

Together, before fees+0.676%+$68 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.119%, so right now this pair is about funding alone: +$1 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget VVVUSDT	31.895	0.0100	pay 0.0050% / 4h	5m 40s	$5.8M	$8.9M	20x
Short	Backpack VVV_USDC_PERP	31.927	0.0119	get 0.0015% / 1h	5m 40s	$124K	$348K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against Bitget. 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 BitgetbpFee BackpackbpOrdersPrice spread, now +0.100%Rate

Funding earned: $4
Price spread: +0.100% → +0.119%: −$1.95
Slippage, 4 orders: −$54.4
Fee Bitget: 6 bp × 2 orders: −$12
Fee Backpack: 5 bp × 2 orders: −$10
Net: −$74.35
Costs to cover: 0.764%
Break-even: 137.1 days

Slippage from Bitget: live order book, 3 min ago; Backpack: live order book, 8 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 Bitget live order book, 3 min ago	4.86 bp	19.5 bp −$20	49.7 bp −$497	doesn't fit	doesn't fit
Sell Backpack live order book, 8 min ago	3.50 bp	16.9 bp −$17	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
Deribit VVV_USDC-PERPETUAL	−0.0133%	1h	31.881	−0.044%	$90K	$23K	10x	as long as short
Polymarket Perps VVV-USD	−0.0037%	1h	31.860	−0.110%	$145K	$1.2M	3x	as long as short
01 Exchange VVVUSD	0.0000%	1h	31.909	+0.044%	$11K	$3K	3x	as long as short
Kalshi KXVVVPERP	0.0000%	8h	31.981	+0.270%	$107K	$6.8M	1.7x	as long as short
gTrade (Gains Network) VVV/USD	L +0.0004% / S −0.0004%	1h	31.900	+0.016%	$19K	—	150x	as long as short
Injective VVV/USDC PERP	+0.0033%	1h	32.820	+2.900%	$2K	$1K	5.5x	as long as short
RISEx VVV/USDC	+0.0040%	1h	31.912	+0.052%	$392K	$602K	5x	as long as short
Lighter VVV	+0.0096%	1h	31.910	+0.049%	$2.2M	$6.1M	5x	as long as short
Lighter RH VVV	+0.0096%	1h	31.904	+0.028%	$475K	$1.6M	5x	as long as short
Nado VVV-PERP	+0.0100%	1h	31.887	−0.024%	$126K	$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	31.933	+0.119%	$74.1M	$55.3M	3x	as long as short
Aster VVVUSDT	+0.0100%	4h	31.923	+0.088%	$261K	$1.9M	10x	as long as short
Pacifica VVV	+0.0100%	1h	31.933	+0.120%	$191K	$191K	10x	as long as short
Binance VVVUSDT	+0.0100%	4h	31.920	+0.077%	$33.5M	$155.9M	25x	as long as short
Bybit VVVUSDT	+0.0100%	4h	31.914	+0.060%	$39.2M	$51.8M	20x	as long as short
OKX VVV-USDT-SWAP	+0.0100%	4h	31.928	+0.103%	$4.6M	$42.0M	20x	as long as short
Gate VVV_USDT	+0.0100%	4h	31.918	+0.072%	$10.7M	$7.6M	25x	as long as short
MEXC VVV_USDT	+0.0100%	4h	31.925	+0.094%	$6.4M	$7.1M	50x	as long as short
KuCoin VVVUSDTM	+0.0100%	4h	31.919	+0.075%	$2.0M	$2.8M	20x	as long as short
Bitget VVVUSDTlong	+0.0100%	4h	31.895	long leg	$5.8M	$8.9M	20x
BingX VVV-USDT	+0.0100%	4h	31.916	+0.066%	—	$5.5M	—	as long as short
Variational Omni VVV	+0.0100%	4h	31.870	−0.079%	$2.1M	$183K	—	as long as short
Derive VVV-PERP	+0.0100%	1h	31.897	+0.005%	$2K	$2K	5x	as long as short
Phemex VVVUSDT	+0.0100%	4h	31.916	+0.066%	$2.1M	$2.1M	50x	as long as short
Paradex VVV-USD-PERP	+0.0100%	8h	31.916	+0.066%	$3K	$106	5x	as long as short
Extended VVV-USD	+0.0104%	1h	31.918	+0.073%	$300K	$1.6M	5x	as long as short
Aevo VVV-PERP	+0.0104%	1h	31.896	+0.004%	$6K	$13K	3x	as long as short
BloFin VVV-USDT	+0.0106%	4h	31.934	+0.122%	$1.3M	$1.8M	25x	as long as short
edgeX VVVUSDC	+0.0108%	4h	31.888	−0.021%	$79K	$334K	10x	as long as short
Backpack VVV_USDC_PERPshort	+0.0119%	1h	31.927	+0.100%	$124K	$348K	5x
Phoenix VVV	+0.0124%	1h	31.884	−0.034%	$56K	$299K	5x	as long as short
GMX VVV/USD [ETH-USDC]	L +0.0179% / S +0.0120%	1h	31.887	−0.024%	$577K	—	100x	as long as short
Coinbase International VVV-PERP-INTX	+0.0192%	1h	32.278	+1.200%	$242K	$1.3M	25x	as long as short