Funding arb · Price arb /

VVV

all VVV markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0096%/8h= −10.5% APRpaid last 24h −0.036%

Price spread now: Kalshi against Lighter+0.257%7-day average −0.063% · you sell dearer than you buy

Net, funding: paid 7d − costs−$73as in the Funding arb table

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

costs, in and out, $10k−$380.385% of the position

Long on Lighter Short on Kalshi

What this pair did over the last

the charts below follow

Funding, last 7 days−0.347%−$35 on $10k

Price spread, last 7 days−0.383%−$38 · spread now +0.257%, 7d avg −0.063%

Together, before fees−0.730%+ Points / potential airdropLighter: Season 3 · farm board−$73 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Kalshi is 0.319% dearer against Lighter than usual: you sell high and buy low (spread +0.257% now, against its 7-day average of −0.063%): +$32 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 11 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter VVV	31.427	0.0096	pay 0.0012% / 1h	57m 46s	$2.0M	$4.2M	5x
Short	Kalshi KXVVVPERP	31.508	0	get 0.0000% / 8h	4h 57m	$91K	$5.4M	1.7x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kalshi 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 KalshibpOrdersPrice spread, now +0.257%Rate

Funding earned: −$20.16
Price spread: +0.257% → −0.063%: $31.93
Slippage, 4 orders: −$28.47
Fee Lighter: 0 bp × 2 orders: $0
Fee Kalshi: 5 bp × 2 orders: −$10
Net: −$26.7
Costs to cover: 0.385%
Break-even: never at this rate

Slippage from Lighter: live order book, 5 min ago; Kalshi: live order book, 1 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, 5 min ago	2.53 bp	4.4 bp −$4	35.7 bp −$357	300.8 bp −$30.1K	doesn't fit
Sell Kalshi live order book, 1 min ago	4.60 bp	12.5 bp −$13	21.4 bp −$214	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	−0.0337%	1h	31.455	+0.089%	$386K	$654K	5x	as long as short
Deribit VVV_USDC-PERPETUAL	−0.0185%	1h	31.487	+0.191%	$88K	$22K	10x	as long as short
Coinbase International VVV-PERP-INTX	−0.0040%	1h	31.489	+0.198%	$187K	$1.3M	25x	as long as short
Kalshi KXVVVPERPshort	0.0000%	8h	31.508	+0.257%	$91K	$5.4M	1.7x
gTrade (Gains Network) VVV/USD	L +0.0004% / S −0.0004%	1h	31.502	+0.236%	$19K	—	150x	as long as short
Injective VVV/USDC PERP	+0.0033%	1h	32.820	+4.431%	$2K	$1K	5.5x	as long as short
Lighter VVVlong	+0.0096%	1h	31.427	long leg	$2.0M	$4.2M	5x
Lighter RH VVV	+0.0096%	1h	31.438	+0.034%	$463K	$1.6M	5x	as long as short
Paradex VVV-USD-PERP	+0.0100%	8h	31.499	+0.228%	$3K	$73	5x	as long as short
Nado VVV-PERP	+0.0100%	1h	31.498	+0.225%	$141K	$925K	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	31.459	+0.101%	$70.5M	$46.1M	3x	as long as short
Aster VVVUSDT	+0.0100%	4h	31.489	+0.197%	$249K	$772K	10x	as long as short
Pacifica VVV	+0.0100%	1h	31.526	+0.314%	$186K	$125K	10x	as long as short
Binance VVVUSDT	+0.0100%	4h	31.444	+0.053%	$33.8M	$116.9M	25x	as long as short
Bybit VVVUSDT	+0.0100%	4h	31.416	−0.036%	$38.4M	$40.6M	20x	as long as short
OKX VVV-USDT-SWAP	+0.0100%	4h	31.433	+0.018%	$4.8M	$29.5M	20x	as long as short
Gate VVV_USDT	+0.0100%	4h	31.428	+0.002%	$11.4M	$5.2M	25x	as long as short
MEXC VVV_USDT	+0.0100%	4h	31.456	+0.091%	$6.9M	$5.3M	50x	as long as short
KuCoin VVVUSDTM	+0.0100%	4h	31.434	+0.021%	$1.7M	$2.7M	20x	as long as short
Bitget VVVUSDT	+0.0100%	4h	31.421	−0.020%	$5.7M	$6.8M	20x	as long as short
BingX VVV-USDT	+0.0100%	4h	31.449	+0.069%	—	$4.7M	—	as long as short
Variational Omni VVV	+0.0100%	4h	31.531	+0.330%	$2.0M	$354K	—	as long as short
Polymarket Perps VVV-USD	+0.0100%	1h	31.480	+0.168%	$122K	$1.4M	3x	as long as short
Derive VVV-PERP	+0.0100%	1h	31.484	+0.180%	$3K	$3K	5x	as long as short
Phemex VVVUSDT	+0.0100%	4h	31.525	+0.311%	$2.0M	$2.1M	50x	as long as short
Extended VVV-USD	+0.0104%	1h	31.455	+0.089%	$300K	$1.3M	5x	as long as short
Aevo VVV-PERP	+0.0104%	1h	31.521	+0.297%	$6K	—	3x	as long as short
edgeX VVVUSDC	+0.0119%	4h	31.576	+0.472%	$78K	$333K	10x	as long as short
BloFin VVV-USDT	+0.0152%	4h	31.616	+0.600%	$1.4M	$1.5M	25x	as long as short
01 Exchange VVVUSD	+0.0176%	1h	31.485	+0.184%	$11K	$2K	3x	as long as short
Phoenix VVV	+0.0307%	1h	31.564	+0.435%	$33K	$214K	5x	as long as short
GMX VVV/USD [ETH-USDC]	L +0.0436% / S −0.0208%	1h	31.499	+0.227%	$506K	—	100x	as long as short
Backpack VVV_USDC_PERP	+0.0498%	1h	31.521	+0.298%	$155K	$267K	5x	as long as short