VVV

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0004%/8h= +0.4% APRnext payment +$0.01 per $10,000 · paid last 24h +0.037%

Price spread now: Backpack against Lighter+0.065%54s7-day average −0.002% · you sell dearer than you buy

Net, funding: paid 7d − costs−$15as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$450.454% of the position

Long on Lighter Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 7 days+0.306%+$31 on $10k

Price spread, last 4 days (all we have)−0.136%−$14 · spread now +0.065%, 7d avg −0.002%

Together, before fees+0.170%+ Points / potential airdropLighter: Season 3 · farm board+$17 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 0.068% dearer against Lighter than usual: you sell high and buy low, +$7 on $10k if it goes back to its 7-day average of −0.002%. The two prices were read 54 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter VVV	31.941	0.0096	pay 0.0012% / 1h	56m 14s	$2.2M	$5.9M	5x
Short	Backpack VVV_USDC_PERP	31.962	0.0100	get 0.0013% / 1h	56m 14s	$124K	$339K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against Lighter. 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 LighterbpFee BackpackbpOrdersPrice spread, now +0.065%Rate

Funding earned: $0.84
Price spread: +0.065% → −0.002%: $6.78
Slippage, 4 orders: −$35.37
Fee Lighter: 0 bp × 2 orders: $0
Fee Backpack: 5 bp × 2 orders: −$10
Net: −$37.75
Costs to cover: 0.454%
Break-even: 321.6 days

Slippage from Lighter: live order book, 12 min ago; Backpack: live order book, 17 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 Lighter live order book, 12 min ago	1.85 bp	3.4 bp −$3	32.7 bp −$327	doesn't fit	doesn't fit
Sell Backpack live order book, 17 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	−0.0195%	1h	31.933	−0.026%	$146K	$1.2M	3x	as long as short
RISEx VVV/USDC	−0.0015%	1h	31.960	+0.060%	$393K	$599K	5x	as long as short
01 Exchange VVVUSD	0.0000%	1h	31.980	+0.121%	$11K	$3K	3x	as long as short
Kalshi KXVVVPERP	0.0000%	8h	31.944	+0.009%	$109K	$6.8M	1.7x	as long as short
Deribit VVV_USDC-PERPETUAL	0.0000%	1h	31.943	+0.007%	$90K	$23K	10x	as long as short
gTrade (Gains Network) VVV/USD	L +0.0004% / S −0.0004%	1h	31.892	−0.155%	$19K	—	150x	as long as short
Injective VVV/USDC PERP	+0.0033%	1h	32.820	+2.751%	$2K	$1K	5.5x	as long as short
BloFin VVV-USDT	+0.0087%	4h	31.937	−0.013%	$1.3M	$1.8M	25x	as long as short
Lighter VVVlong	+0.0096%	1h	31.941	long leg	$2.2M	$5.9M	5x
Lighter RH VVV	+0.0096%	1h	31.909	−0.101%	$475K	$1.6M	5x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado VVV-PERP	+0.0100%	1h	31.885	−0.174%	$126K	$850K	3x	as long as short
Hyperliquid VVV	+0.0100%	1h	31.971	+0.093%	$74.1M	$55.4M	3x	as long as short
Aster VVVUSDT	+0.0100%	4h	31.881	−0.188%	$260K	$1.9M	10x	as long as short
Pacifica VVV	+0.0100%	1h	31.952	+0.033%	$191K	$191K	10x	as long as short
Binance VVVUSDT	+0.0100%	4h	31.919	−0.069%	$33.5M	$155.7M	25x	as long as short
Bybit VVVUSDT	+0.0100%	4h	31.896	−0.142%	$39.1M	$51.7M	20x	as long as short
OKX VVV-USDT-SWAP	+0.0100%	4h	31.900	−0.129%	$4.6M	$41.8M	20x	as long as short
Gate VVV_USDT	+0.0100%	4h	31.876	−0.204%	$10.7M	$7.3M	25x	as long as short
MEXC VVV_USDT	+0.0100%	4h	31.897	−0.138%	$6.4M	$6.9M	50x	as long as short
KuCoin VVVUSDTM	+0.0100%	4h	31.921	−0.063%	$2.0M	$2.8M	20x	as long as short
Bitget VVVUSDT	+0.0100%	4h	31.930	−0.035%	$5.8M	$8.9M	20x	as long as short
BingX VVV-USDT	+0.0100%	4h	31.896	−0.142%	—	$5.5M	—	as long as short
Backpack VVV_USDC_PERPshort	+0.0100%	1h	31.962	+0.065%	$124K	$339K	5x
Variational Omni VVV	+0.0100%	4h	31.948	+0.020%	$2.1M	$183K	—	as long as short
Derive VVV-PERP	+0.0100%	1h	31.925	−0.052%	$2K	$2K	5x	as long as short
Phemex VVVUSDT	+0.0100%	4h	31.914	−0.085%	$2.1M	$2.1M	50x	as long as short
Paradex VVV-USD-PERP	+0.0100%	8h	31.948	+0.021%	$3K	$106	5x	as long as short
Extended VVV-USD	+0.0104%	1h	31.937	−0.013%	$303K	$1.6M	5x	as long as short
Aevo VVV-PERP	+0.0104%	1h	31.942	+0.004%	$6K	—	3x	as long as short
edgeX VVVUSDC	+0.0109%	4h	31.960	+0.059%	$79K	$333K	10x	as long as short
Phoenix VVV	+0.0124%	1h	31.987	+0.143%	$56K	$295K	5x	as long as short
GMX VVV/USD [ETH-USDC]	L +0.0179% / S +0.0120%	1h	31.870	−0.224%	$576K	—	100x	as long as short
Coinbase International VVV-PERP-INTX	+0.0320%	1h	32.278	+1.053%	$242K	$1.3M	25x	as long as short