Funding arb · Price arb /

VVV

all VVV markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0072%/8h= −7.9% APRpaid last 24h +0.099%

Price spread now: Hyperliquid against Kalshi+0.119%7-day average +0.068% · you sell dearer than you buy

Net, funding: paid 7d − costs−$30as in the Funding arb table

Net, price: spread back to 7d avg − costs−$44as in the Price arb table

costs, in and out, $10k−$490.491% of the position

Long on Kalshi Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days+0.191%+$19 on $10k

Price spread, last 7 days−0.034%−$3 · spread now +0.119%, 7d avg +0.068%

Together, before fees+0.157%+ Points / potential airdropHyperliquid: Season 2 · farm board+$16 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Hyperliquid is 0.050% dearer against Kalshi than usual: you sell high and buy low (spread +0.119% now, against its 7-day average of +0.068%): +$5 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 2.3 days. Mind the row above: over the last 7 days funding on this pair paid +0.191%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kalshi KXVVVPERP	31.171	0.0172	pay 0.0172% / 8h	1h 10m	$99K	$5.9M	1.7x
Short	Hyperliquid VVV	31.208	0.0100	get 0.0013% / 1h	10m 32s	$71.6M	$51.6M	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid against Kalshi. 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 KalshibpFee HyperliquidbpOrdersPrice spread, now +0.119%Rate

Funding earned: −$15.15
Price spread: +0.119% → +0.068%: $5.03
Slippage, 4 orders: −$30.14
Fee Kalshi: 5 bp × 2 orders: −$10
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$59.26
Costs to cover: 0.491%
Break-even: never at this rate

Slippage from Kalshi: live order book, 3 min ago; Hyperliquid: 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 Kalshi live order book, 3 min ago	6.56 bp	13.5 bp −$14	19.1 bp −$191	doesn't fit	doesn't fit
Sell Hyperliquid live order book, 3 min ago	0.16 bp	13.2 bp −$13	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
RISEx VVV/USDC	−0.0152%	1h	31.147	−0.076%	$382K	$652K	5x	as long as short
Deribit VVV_USDC-PERPETUAL	0.0000%	1h	31.183	+0.038%	$87K	$24K	10x	as long as short
gTrade (Gains Network) VVV/USD	L +0.0004% / S −0.0002%	1h	31.161	−0.031%	$23K	—	150x	as long as short
Gate VVV_USDT	+0.0012%	4h	31.164	−0.022%	$10.4M	$6.3M	25x	as long as short
Injective VVV/USDC PERP	+0.0033%	1h	32.820	+5.290%	$2K	$1K	5.5x	as long as short
Polymarket Perps VVV-USD	+0.0078%	1h	31.161	−0.032%	$130K	$1.2M	3x	as long as short
Lighter VVV	+0.0096%	1h	31.177	+0.018%	$2.1M	$5.4M	5x	as long as short
Lighter RH VVV	+0.0096%	1h	31.190	+0.061%	$461K	$1.5M	5x	as long as short
Paradex VVV-USD-PERP	+0.0100%	8h	31.169	−0.007%	$3K	$73	5x	as long as short
Nado VVV-PERP	+0.0100%	1h	31.157	−0.045%	$144K	$842K	3x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid VVVshort	+0.0100%	1h	31.208	+0.119%	$71.6M	$51.6M	3x
Aster VVVUSDT	+0.0100%	4h	31.177	+0.020%	$251K	$1.3M	10x	as long as short
Pacifica VVV	+0.0100%	1h	31.195	+0.077%	$186K	$135K	10x	as long as short
Binance VVVUSDT	+0.0100%	4h	31.181	+0.032%	$33.1M	$137.6M	25x	as long as short
Bybit VVVUSDT	+0.0100%	4h	31.177	+0.019%	$38.3M	$45.3M	20x	as long as short
OKX VVV-USDT-SWAP	+0.0100%	4h	31.184	+0.042%	$4.7M	$36.5M	20x	as long as short
MEXC VVV_USDT	+0.0100%	4h	31.189	+0.058%	$6.4M	$6.7M	50x	as long as short
KuCoin VVVUSDTM	+0.0100%	4h	31.142	−0.093%	$1.9M	$2.8M	20x	as long as short
Bitget VVVUSDT	+0.0100%	4h	31.155	−0.051%	$5.7M	$7.8M	20x	as long as short
BingX VVV-USDT	+0.0100%	4h	31.182	+0.035%	—	$5.2M	—	as long as short
Variational Omni VVV	+0.0100%	4h	31.125	−0.148%	$2.0M	$236K	—	as long as short
Derive VVV-PERP	+0.0100%	1h	31.164	−0.022%	$3K	$3K	5x	as long as short
Phemex VVVUSDT	+0.0100%	4h	31.190	+0.061%	$2.0M	$2.1M	50x	as long as short
Extended VVV-USD	+0.0104%	1h	31.166	−0.017%	$295K	$1.9M	5x	as long as short
Aevo VVV-PERP	+0.0104%	1h	31.150	−0.068%	$6K	—	3x	as long as short
edgeX VVVUSDC	+0.0105%	4h	31.168	−0.009%	$77K	$333K	10x	as long as short
BloFin VVV-USDT	+0.0130%	4h	31.202	+0.099%	$1.2M	$1.7M	25x	as long as short
01 Exchange VVVUSD	+0.0144%	1h	31.166	−0.016%	$11K	$3K	3x	as long as short
Phoenix VVV	+0.0153%	1h	31.247	+0.244%	$37K	$264K	5x	as long as short
Coinbase International VVV-PERP-INTX	+0.0168%	1h	31.655	+1.554%	$145K	$1.2M	25x	as long as short
Kalshi KXVVVPERPlong	+0.0172%	8h	31.171	long leg	$99K	$5.9M	1.7x
GMX VVV/USD [ETH-USDC]	L +0.0174% / S +0.0126%	1h	31.150	−0.067%	$561K	—	100x	as long as short
Backpack VVV_USDC_PERP	+0.0328%	1h	31.220	+0.157%	$123K	$285K	5x	as long as short