Funding arb · Price arb /

VVV

all VVV markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0002%/8h= −0.2% APRpaid last 24h +0.088%

Price spread now: Backpack against edgeX+0.145%7-day average +0.035% · you sell dearer than you buy

Net, funding: paid 7d − costs−$44as in the Funding arb table

Net, price: spread back to 7d avg − costs−$93as in the Price arb table

costs, in and out, $10k−$1041.038% of the position

Long on edgeX Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 7 days+0.596%+$60 on $10k

Price spread, last 3 days (all we have)+0.026%+$3 · spread now +0.145%, 7d avg +0.035%

Together, before fees+0.623%+ Points / potential airdropedgeX: Active · farm board+$62 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Backpack is 0.109% dearer against edgeX than usual: you sell high and buy low, +$11 on $10k if it goes back to its 7-day average of +0.035%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	edgeX VVVUSDC	31.936	0.0102	pay 0.0051% / 4h	3h 10m	$79K	$336K	10x
Short	Backpack VVV_USDC_PERP	31.983	0.0100	get 0.0013% / 1h	10m 18s	$123K	$334K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against edgeX. 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 edgeXbpFee BackpackbpOrdersPrice spread, now +0.145%Rate

Funding earned: −$0.45
Price spread: +0.145% → +0.035%: $10.94
Slippage, 4 orders: −$84.82
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee Backpack: 5 bp × 2 orders: −$10
Net: −$93.33
Costs to cover: 1.038%
Break-even: never at this rate

Slippage from edgeX: live order book, 63 min ago; Backpack: live order book, 63 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 edgeX live order book, 63 min ago	0.79 bp	30.3 bp −$30	doesn't fit	doesn't fit	doesn't fit
Sell Backpack live order book, 63 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
Polymarket Perps VVV-USD	−0.0233%	1h	31.924	−0.039%	$160K	$1.2M	3x	as long as short
Bybit VVVUSDT	−0.0106%	4h	31.926	−0.032%	$39.0M	$51.6M	20x	as long as short
Gate VVV_USDT	−0.0106%	4h	31.929	−0.023%	$10.7M	$7.4M	25x	as long as short
RISEx VVV/USDC	−0.0015%	1h	31.947	+0.034%	$393K	$602K	5x	as long as short
01 Exchange VVVUSD	−0.0008%	1h	31.973	+0.114%	$11K	$3K	3x	as long as short
Kalshi KXVVVPERP	0.0000%	8h	31.974	+0.118%	$114K	$6.5M	1.7x	as long as short
Phoenix VVV	0.0000%	1h	31.867	−0.217%	$56K	$298K	5x	as long as short
Deribit VVV_USDC-PERPETUAL	0.0000%	1h	31.920	−0.051%	$89K	$24K	10x	as long as short
gTrade (Gains Network) VVV/USD	L +0.0004% / S −0.0004%	1h	31.949	+0.038%	$19K	—	150x	as long as short
Injective VVV/USDC PERP	+0.0033%	1h	32.820	+2.767%	$2K	$1K	5.5x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter VVV	+0.0096%	1h	31.894	−0.132%	$2.2M	$5.9M	5x	as long as short
Lighter RH VVV	+0.0096%	1h	31.947	+0.033%	$473K	$1.6M	5x	as long as short
Nado VVV-PERP	+0.0100%	1h	31.950	+0.042%	$125K	$850K	3x	as long as short
Hyperliquid VVV	+0.0100%	1h	31.960	+0.074%	$74.2M	$55.1M	3x	as long as short
Aster VVVUSDT	+0.0100%	4h	31.958	+0.067%	$260K	$1.9M	10x	as long as short
Pacifica VVV	+0.0100%	1h	31.986	+0.155%	$191K	$183K	10x	as long as short
Binance VVVUSDT	+0.0100%	4h	31.958	+0.068%	$33.6M	$154.2M	25x	as long as short
OKX VVV-USDT-SWAP	+0.0100%	4h	31.908	−0.089%	$4.7M	$41.4M	20x	as long as short
MEXC VVV_USDT	+0.0100%	4h	31.964	+0.086%	$6.5M	$7.0M	50x	as long as short
KuCoin VVVUSDTM	+0.0100%	4h	31.962	+0.080%	$2.0M	$2.8M	20x	as long as short
Bitget VVVUSDT	+0.0100%	4h	31.923	−0.042%	$5.8M	$8.9M	20x	as long as short
BingX VVV-USDT	+0.0100%	4h	31.955	+0.058%	—	$5.4M	—	as long as short
Backpack VVV_USDC_PERPshort	+0.0100%	1h	31.983	+0.145%	$123K	$334K	5x
Variational Omni VVV	+0.0100%	4h	31.923	−0.041%	$2.1M	$190K	—	as long as short
Derive VVV-PERP	+0.0100%	1h	31.916	−0.065%	$3K	$2K	5x	as long as short
Phemex VVVUSDT	+0.0100%	4h	31.941	+0.014%	$2.1M	$2.1M	50x	as long as short
Paradex VVV-USD-PERP	+0.0100%	8h	31.964	+0.087%	$3K	$106	5x	as long as short
edgeX VVVUSDClong	+0.0102%	4h	31.936	long leg	$79K	$336K	10x
Extended VVV-USD	+0.0104%	1h	31.898	−0.120%	$304K	$2.0M	5x	as long as short
Aevo VVV-PERP	+0.0104%	1h	31.936	−0.003%	$6K	—	3x	as long as short
BloFin VVV-USDT	+0.0148%	4h	31.951	+0.046%	$1.3M	$1.8M	25x	as long as short
GMX VVV/USD [ETH-USDC]	L +0.0178% / S +0.0121%	1h	31.937	+0.002%	$578K	—	100x	as long as short
Coinbase International VVV-PERP-INTX	+0.0320%	1h	31.903	−0.106%	$245K	$1.2M	25x	as long as short