Funding arb · Price arb /

VVV

all VVV markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0096%/8h= −10.5% APRpaid last 24h −0.052%

Price spread now: Kalshi against Lighter RH+0.126%7-day average −0.086% · you sell dearer than you buy

Net, funding: paid 7d − costs−$97as in the Funding arb table

Net, price: spread back to 7d avg − costs−$24as in the Price arb table

costs, in and out, $10k−$450.451% of the position

Long on Lighter RH Short on Kalshi

What this pair did over the last

the charts below follow

Funding, last 7 days−0.518%−$52 on $10k

Price spread, last 4 days (all we have)+0.575%+$58 · spread now +0.126%, 7d avg −0.086%

Together, before fees+0.058%+ Points / potential airdropLighter RH: Points live · farm board+$6 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Kalshi is 0.213% dearer against Lighter RH than usual: you sell high and buy low (spread +0.126% now, against its 7-day average of −0.086%): +$21 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 7.4 days. At the pace of the last 7 days (−0.518% in total) that is about 2.9 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter RH VVV	31.663	0.0096	pay 0.0012% / 1h	58m 38s	$468K	$1.5M	5x
Short	Kalshi KXVVVPERP	31.703	0	get 0.0000% / 8h	2h 58m	$113K	$6.4M	1.7x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kalshi against Lighter RH. 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 Lighter RHbpFee KalshibpOrdersPrice spread, now +0.126%Rate

Funding earned: −$20.16
Price spread: +0.126% → −0.086%: $21.27
Slippage, 4 orders: −$35.1
Fee Lighter RH: 0 bp × 2 orders: $0
Fee Kalshi: 5 bp × 2 orders: −$10
Net: −$43.99
Costs to cover: 0.451%
Break-even: never at this rate

Slippage from Lighter RH: live order book, 4 min ago; Kalshi: live order book, 5 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 RH live order book, 4 min ago	5.49 bp	6.4 bp −$6	15.4 bp −$154	doesn't fit	doesn't fit
Sell Kalshi live order book, 5 min ago	8.76 bp	14.0 bp −$14	22.0 bp −$220	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
Lighter VVV	−0.0272%	1h	31.619	−0.140%	$2.2M	$5.6M	5x	as long as short
Bybit VVVUSDT	−0.0258%	4h	31.617	−0.146%	$38.5M	$51.6M	20x	as long as short
Gate VVV_USDT	−0.0210%	4h	31.584	−0.250%	$10.6M	$7.0M	25x	as long as short
RISEx VVV/USDC	−0.0111%	1h	31.621	−0.134%	$388K	$600K	5x	as long as short
Kalshi KXVVVPERPshort	0.0000%	8h	31.703	+0.126%	$113K	$6.4M	1.7x
Phoenix VVV	0.0000%	1h	31.881	+0.689%	$56K	$282K	5x	as long as short
Deribit VVV_USDC-PERPETUAL	0.0000%	1h	31.733	+0.221%	$88K	$24K	10x	as long as short
gTrade (Gains Network) VVV/USD	L +0.0004% / S −0.0004%	1h	31.717	+0.169%	$791	—	150x	as long as short
Injective VVV/USDC PERP	+0.0033%	1h	32.820	+3.654%	$2K	$1K	5.5x	as long as short
01 Exchange VVVUSD	+0.0056%	1h	31.612	−0.161%	$11K	$3K	3x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BloFin VVV-USDT	+0.0071%	4h	31.717	+0.171%	$1.3M	$1.8M	25x	as long as short
Lighter RH VVVlong	+0.0096%	1h	31.663	long leg	$468K	$1.5M	5x
Nado VVV-PERP	+0.0100%	1h	31.782	+0.374%	$125K	$850K	3x	as long as short
Hyperliquid VVV	+0.0100%	1h	31.695	+0.101%	$73.4M	$55.0M	3x	as long as short
Aster VVVUSDT	+0.0100%	4h	31.659	−0.013%	$258K	$1.9M	10x	as long as short
Pacifica VVV	+0.0100%	1h	31.665	+0.006%	$189K	$183K	10x	as long as short
Binance VVVUSDT	+0.0100%	4h	31.658	−0.016%	$33.3M	$153.3M	25x	as long as short
OKX VVV-USDT-SWAP	+0.0100%	4h	31.605	−0.183%	$4.6M	$40.8M	20x	as long as short
MEXC VVV_USDT	+0.0100%	4h	31.679	+0.051%	$6.4M	$6.8M	50x	as long as short
KuCoin VVVUSDTM	+0.0100%	4h	31.743	+0.253%	$1.9M	$2.8M	20x	as long as short
Bitget VVVUSDT	+0.0100%	4h	31.611	−0.164%	$5.7M	$8.9M	20x	as long as short
BingX VVV-USDT	+0.0100%	4h	31.606	−0.180%	—	$5.4M	—	as long as short
Variational Omni VVV	+0.0100%	4h	31.867	+0.646%	$2.1M	$190K	—	as long as short
Polymarket Perps VVV-USD	+0.0100%	1h	31.769	+0.335%	$157K	$1.2M	3x	as long as short
Derive VVV-PERP	+0.0100%	1h	31.724	+0.192%	$3K	$3K	5x	as long as short
Phemex VVVUSDT	+0.0100%	4h	31.763	+0.316%	$2.1M	$2.1M	50x	as long as short
Paradex VVV-USD-PERP	+0.0100%	8h	31.594	−0.218%	$3K	$106	5x	as long as short
Extended VVV-USD	+0.0104%	1h	31.602	−0.194%	$299K	$2.0M	5x	as long as short
Aevo VVV-PERP	+0.0104%	1h	31.704	+0.130%	$6K	—	3x	as long as short
edgeX VVVUSDC	+0.0114%	4h	31.943	+0.885%	$79K	$335K	10x	as long as short
GMX VVV/USD [ETH-USDC]	L +0.0177% / S +0.0122%	1h	31.814	+0.478%	$574K	—	100x	as long as short
Coinbase International VVV-PERP-INTX	+0.0208%	1h	31.695	+0.100%	$243K	$1.2M	25x	as long as short
Backpack VVV_USDC_PERP	+0.0548%	1h	31.753	+0.285%	$122K	$328K	5x	as long as short