Funding arb · Price arb /

VVV

all VVV markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0192%/8h= +21.1% APRpaid last 24h +0.090%

Price spread now: Backpack against MEXC+0.084%7-day average +0.041% · you sell dearer than you buy

Net, funding: paid 7d − costs+$11as in the Funding arb table

Net, price: spread back to 7d avg − costs−$46as in the Price arb table

costs, in and out, $10k−$500.502% of the position

Long on MEXC Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 7 days+0.615%+$61 on $10k

Price spread, last 4 days (all we have)−0.024%−$2 · spread now +0.084%, 7d avg +0.041%

Together, before fees+0.590%+$59 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$6 a day on $10k at the current rate, and Backpack is 0.043% dearer against MEXC than usual: you sell high and buy low: +$4 more if the spread goes back to its 7-day average of +0.041%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC VVV_USDT	31.715	0.0100	pay 0.0050% / 4h	2h 22m	$6.4M	$6.9M	50x
Short	Backpack VVV_USDC_PERP	31.742	0.0292	get 0.0037% / 1h	22m 04s	$123K	$317K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against MEXC. 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 MEXCbpFee BackpackbpOrdersPrice spread, now +0.084%Rate

Funding earned: $40.41
Price spread: +0.084% → +0.041%: $4.27
Slippage, 4 orders: −$40.19
Fee MEXC: 0 bp × 2 orders: $0
Fee Backpack: 5 bp × 2 orders: −$10
Net: −$5.51
Costs to cover: 0.502%
Break-even: 8.0 days

Slippage from MEXC: live order book, 1 min ago; Backpack: live order book, 46 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 MEXC live order book, 1 min ago	0.16 bp	19.9 bp −$20	66.9 bp −$669	222.1 bp −$22.2K	doesn't fit
Sell Backpack live order book, 46 min ago	2.44 bp	15.1 bp −$15	doesn't fit	doesn't fit	doesn't fit

VVV on 32 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	−0.0111%	1h	31.673	−0.132%	$389K	$633K	5x	as long as short
Gate VVV_USDT	−0.0042%	4h	31.701	−0.044%	$10.6M	$7.1M	25x	as long as short
Polymarket Perps VVV-USD	−0.0025%	1h	31.736	+0.066%	$136K	$1.2M	3x	as long as short
Kalshi KXVVVPERP	0.0000%	8h	31.699	−0.050%	$119K	$6.4M	1.7x	as long as short
Phoenix VVV	0.0000%	1h	31.792	+0.243%	$48K	$289K	5x	as long as short
Deribit VVV_USDC-PERPETUAL	0.0000%	1h	31.730	+0.047%	$88K	$24K	10x	as long as short
gTrade (Gains Network) VVV/USD	L +0.0004% / S −0.0005%	1h	31.730	+0.049%	$20K	—	150x	as long as short
Injective VVV/USDC PERP	+0.0033%	1h	32.820	+3.484%	$2K	$1K	5.5x	as long as short
Lighter VVV	+0.0096%	1h	31.695	−0.063%	$2.1M	$5.6M	5x	as long as short
Lighter RH VVV	+0.0096%	1h	31.684	−0.098%	$468K	$1.5M	5x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Paradex VVV-USD-PERP	+0.0100%	8h	31.693	−0.070%	$3K	$73	5x	as long as short
Nado VVV-PERP	+0.0100%	1h	31.746	+0.099%	$131K	$847K	3x	as long as short
Hyperliquid VVV	+0.0100%	1h	31.748	+0.104%	$73.2M	$53.6M	3x	as long as short
Aster VVVUSDT	+0.0100%	4h	31.711	−0.012%	$257K	$1.8M	10x	as long as short
Pacifica VVV	+0.0100%	1h	31.706	−0.029%	$189K	$163K	10x	as long as short
Binance VVVUSDT	+0.0100%	4h	31.712	−0.009%	$33.7M	$149.0M	25x	as long as short
Bybit VVVUSDT	+0.0100%	4h	31.699	−0.049%	$38.8M	$50.6M	20x	as long as short
OKX VVV-USDT-SWAP	+0.0100%	4h	31.696	−0.060%	$4.7M	$39.9M	20x	as long as short
MEXC VVV_USDTlong	+0.0100%	4h	31.715	long leg	$6.4M	$6.9M	50x
KuCoin VVVUSDTM	+0.0100%	4h	31.685	−0.095%	$1.8M	$2.8M	20x	as long as short
Bitget VVVUSDT	+0.0100%	4h	31.711	−0.013%	$5.7M	$8.5M	20x	as long as short
BingX VVV-USDT	+0.0100%	4h	31.726	+0.035%	—	$5.4M	—	as long as short
Variational Omni VVV	+0.0100%	4h	31.714	−0.002%	$2.1M	$185K	—	as long as short
Derive VVV-PERP	+0.0100%	1h	31.710	−0.015%	$3K	$3K	5x	as long as short
Phemex VVVUSDT	+0.0100%	4h	31.721	+0.019%	$2.0M	$2.1M	50x	as long as short
Extended VVV-USD	+0.0104%	1h	31.730	+0.048%	$300K	$1.9M	5x	as long as short
01 Exchange VVVUSD	+0.0104%	1h	31.699	−0.050%	$11K	$3K	3x	as long as short
Aevo VVV-PERP	+0.0104%	1h	31.715	−0.001%	$6K	—	3x	as long as short
edgeX VVVUSDC	+0.0116%	4h	31.796	+0.255%	$79K	$334K	10x	as long as short
GMX VVV/USD [ETH-USDC]	L +0.0176% / S +0.0123%	1h	31.716	+0.003%	$573K	—	100x	as long as short
Coinbase International VVV-PERP-INTX	+0.0208%	1h	31.711	−0.013%	$232K	$1.2M	25x	as long as short
Backpack VVV_USDC_PERPshort	+0.0292%	1h	31.742	+0.084%	$123K	$317K	5x