VVV

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0659%/8h= +72.2% APRnext payment +$0.82 per $10,000 · paid last 24h +0.036%

Price spread now: Backpack against RISEx+0.031%7-day average +0.082% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$45as in the Price arb table

costs, in and out, $10k−$400.403% of the position

Long on RISEx Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.139%+$14 on $10k

Price spread, last 4 days (all we have)+0.047%+$5 · spread now +0.031%, 7d avg +0.082%

Together, before fees+0.186%+$19 on $10k · with fees, hour by hour

Funding pays, the price is against you. Backpack is 0.051% cheaper against RISEx than usual: you would sell low and buy high (spread +0.031% now, against its 7-day average of +0.082%). If the spread goes back, that is −$5 on $10k: about 6 hours of funding at the current rate (+$20 a day). At the pace of the last 4 days (+0.139% in total) that is about 31 hours.

The current funding rate is far above what this pair has been paying: over the last 4 days it paid 0.139% in total (about 14.5% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.82 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	RISEx VVV/USDC	31.333	−0.0152	get 0.0019% / 1h	58m 05s	$385K	$644K	5x
Short	Backpack VVV_USDC_PERP	31.342	0.0507	get 0.0063% / 1h	58m 05s	$121K	$311K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against RISEx. 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 RISExbpFee BackpackbpOrdersPrice spread, now +0.031%Rate

Funding earned: $138.46
Price spread: +0.031% → +0.082%: −$5.06
Slippage, 4 orders: −$24.29
Fee RISEx: 3 bp × 2 orders: −$6
Fee Backpack: 5 bp × 2 orders: −$10
Net: $93.12
Costs to cover: 0.403%
Break-even: 2.3 days

Slippage from RISEx: live order book, 5 min ago; Backpack: 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 RISEx live order book, 5 min ago	1.85 bp	4.9 bp −$5	20.3 bp −$203	doesn't fit	doesn't fit
Sell Backpack live order book, 5 min ago	3.22 bp	16.9 bp −$17	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/USDClong	−0.0152%	1h	31.333	long leg	$385K	$644K	5x
Phoenix VVV	0.0000%	1h	31.348	+0.049%	$38K	$227K	5x	as long as short
Deribit VVV_USDC-PERPETUAL	0.0000%	1h	31.324	−0.026%	$87K	$24K	10x	as long as short
gTrade (Gains Network) VVV/USD	L +0.0004% / S −0.0005%	1h	31.320	−0.040%	$20K	—	150x	as long as short
Gate VVV_USDT	+0.0006%	4h	31.287	−0.146%	$10.5M	$6.1M	25x	as long as short
Injective VVV/USDC PERP	+0.0033%	1h	32.820	+4.747%	$2K	$1K	5.5x	as long as short
Lighter VVV	+0.0096%	1h	31.326	−0.021%	$2.1M	$5.3M	5x	as long as short
Lighter RH VVV	+0.0096%	1h	31.314	−0.059%	$462K	$1.5M	5x	as long as short
Paradex VVV-USD-PERP	+0.0100%	8h	31.365	+0.104%	$3K	$73	5x	as long as short
Nado VVV-PERP	+0.0100%	1h	31.330	−0.008%	$130K	$846K	3x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid VVV	+0.0100%	1h	31.306	−0.085%	$72.2M	$53.3M	3x	as long as short
Aster VVVUSDT	+0.0100%	4h	31.349	+0.052%	$254K	$1.8M	10x	as long as short
Pacifica VVV	+0.0100%	1h	31.390	+0.182%	$188K	$161K	10x	as long as short
Binance VVVUSDT	+0.0100%	4h	31.299	−0.107%	$33.3M	$146.6M	25x	as long as short
Bybit VVVUSDT	+0.0100%	4h	31.268	−0.205%	$38.4M	$49.8M	20x	as long as short
OKX VVV-USDT-SWAP	+0.0100%	4h	31.257	−0.241%	$4.7M	$39.0M	20x	as long as short
MEXC VVV_USDT	+0.0100%	4h	31.339	+0.020%	$6.3M	$6.6M	50x	as long as short
KuCoin VVVUSDTM	+0.0100%	4h	31.345	+0.040%	$1.8M	$2.8M	20x	as long as short
Bitget VVVUSDT	+0.0100%	4h	31.308	−0.079%	$5.7M	$8.5M	20x	as long as short
BingX VVV-USDT	+0.0100%	4h	31.304	−0.091%	—	$5.4M	—	as long as short
Variational Omni VVV	+0.0100%	4h	31.347	+0.044%	$2.1M	$185K	—	as long as short
Polymarket Perps VVV-USD	+0.0100%	1h	31.342	+0.030%	$135K	$1.2M	3x	as long as short
Derive VVV-PERP	+0.0100%	1h	31.318	−0.045%	$3K	$3K	5x	as long as short
Phemex VVVUSDT	+0.0100%	4h	31.334	+0.004%	$2.0M	$2.1M	50x	as long as short
Extended VVV-USD	+0.0104%	1h	31.249	−0.268%	$294K	$1.9M	5x	as long as short
Aevo VVV-PERP	+0.0104%	1h	31.337	+0.014%	$6K	—	3x	as long as short
edgeX VVVUSDC	+0.0119%	4h	31.350	+0.057%	$78K	$336K	10x	as long as short
Kalshi KXVVVPERP	+0.0125%	8h	31.370	+0.119%	$110K	$6.3M	1.7x	as long as short
Coinbase International VVV-PERP-INTX	+0.0168%	1h	31.333	+0.002%	$155K	$1.3M	25x	as long as short
GMX VVV/USD [ETH-USDC]	L +0.0175% / S +0.0125%	1h	31.314	−0.059%	$564K	—	100x	as long as short
01 Exchange VVVUSD	+0.0184%	1h	31.358	+0.081%	$11K	$3K	3x	as long as short
Backpack VVV_USDC_PERPshort	+0.0507%	1h	31.342	+0.031%	$121K	$311K	5x