Funding arb · Price arb /

VVV

all VVV markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h +0.045%

Price spread now: Lighter against Variational Omni−0.092%7-day average +0.094% · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Variational Omni Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.284%+$28 on $10k

Price spread, last 7 days+0.187%+$19 · spread now −0.092%, 7d avg +0.094%

Together, before fees+0.471%+ Points / potential airdropVariational Omni: Active · Lighter: Season 3 · farm board+$47 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: Lighter is 0.186% cheaper against Variational Omni than usual: you would sell low and buy high, −$19 on $10k if it goes back to its 7-day average of +0.094%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni VVV	31.664	0.0100	pay 0.0050% / 4h	1h 05m	$2.0M	$354K	—
Short	Lighter VVV	31.635	0.0096	get 0.0012% / 1h	5m 02s	$2.0M	$4.5M	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Variational Omni. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 Variational OmnibpFee LighterbpOrdersPrice spread, now −0.092%Rate

Funding earned: −$0.84
Price spread: −0.092% → +0.094%: −$18.62
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Lighter: 0 bp × 2 orders: $0
Net: −$19.46
Costs to cover: 0.000%
Break-even: never at this rate

Slippage unknown: Variational Omni: RFQ quote, 4 min ago; Lighter: live order book, 3 min ago. Net counts fees only.

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 Variational Omni RFQ quote, 4 min ago	2.87 bp	doesn't fit	39.0 bp −$390	doesn't fit	doesn't fit
Sell Lighter live order book, 3 min ago	2.38 bp	14.0 bp −$14	73.9 bp −$739	1366.8 bp −$136.7K	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
Coinbase International VVV-PERP-INTX	−0.0088%	1h	31.568	−0.302%	$188K	$1.3M	25x	as long as short
RISEx VVV/USDC	−0.0085%	1h	31.615	−0.154%	$388K	$652K	5x	as long as short
01 Exchange VVVUSD	−0.0016%	1h	31.610	−0.170%	$11K	$2K	3x	as long as short
Kalshi KXVVVPERP	0.0000%	8h	31.678	+0.044%	$92K	$5.4M	1.7x	as long as short
Deribit VVV_USDC-PERPETUAL	0.0000%	1h	31.639	−0.079%	$88K	$22K	10x	as long as short
gTrade (Gains Network) VVV/USD	L +0.0004% / S −0.0004%	1h	31.654	−0.031%	$19K	—	150x	as long as short
Injective VVV/USDC PERP	+0.0033%	1h	32.820	+3.651%	$2K	$1K	5.5x	as long as short
BloFin VVV-USDT	+0.0086%	4h	31.657	−0.022%	$1.4M	$1.5M	25x	as long as short
Lighter VVVshort	+0.0096%	1h	31.635	−0.092%	$2.0M	$4.5M	5x
Lighter RH VVV	+0.0096%	1h	31.642	−0.069%	$466K	$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
Paradex VVV-USD-PERP	+0.0100%	8h	31.660	−0.014%	$3K	$73	5x	as long as short
Nado VVV-PERP	+0.0100%	1h	31.663	−0.001%	$143K	$924K	3x	as long as short
Hyperliquid VVV	+0.0100%	1h	31.676	+0.037%	$70.9M	$46.1M	3x	as long as short
Aster VVVUSDT	+0.0100%	4h	31.660	−0.013%	$251K	$946K	10x	as long as short
Pacifica VVV	+0.0100%	1h	31.683	+0.061%	$187K	$126K	10x	as long as short
Binance VVVUSDT	+0.0100%	4h	31.652	−0.038%	$34.0M	$118.1M	25x	as long as short
Bybit VVVUSDT	+0.0100%	4h	31.622	−0.133%	$38.7M	$40.9M	20x	as long as short
OKX VVV-USDT-SWAP	+0.0100%	4h	31.634	−0.095%	$4.9M	$30.0M	20x	as long as short
Gate VVV_USDT	+0.0100%	4h	31.629	−0.110%	$11.5M	$5.5M	25x	as long as short
MEXC VVV_USDT	+0.0100%	4h	31.662	−0.006%	$7.0M	$5.7M	50x	as long as short
KuCoin VVVUSDTM	+0.0100%	4h	31.660	−0.013%	$1.7M	$2.8M	20x	as long as short
Bitget VVVUSDT	+0.0100%	4h	31.625	−0.123%	$5.8M	$6.9M	20x	as long as short
BingX VVV-USDT	+0.0100%	4h	31.655	−0.028%	—	$4.8M	—	as long as short
Variational Omni VVVlong	+0.0100%	4h	31.664	long leg	$2.0M	$354K	—
Polymarket Perps VVV-USD	+0.0100%	1h	31.637	−0.085%	$122K	$1.4M	3x	as long as short
Derive VVV-PERP	+0.0100%	1h	31.672	+0.024%	$3K	$3K	5x	as long as short
Phemex VVVUSDT	+0.0100%	4h	31.648	−0.050%	$2.0M	$2.1M	50x	as long as short
Extended VVV-USD	+0.0104%	1h	31.642	−0.068%	$303K	$1.1M	5x	as long as short
Aevo VVV-PERP	+0.0104%	1h	31.649	−0.049%	$6K	—	3x	as long as short
edgeX VVVUSDC	+0.0111%	4h	31.614	−0.157%	$79K	$331K	10x	as long as short
Phoenix VVV	+0.0307%	1h	31.698	+0.108%	$33K	$232K	5x	as long as short
Backpack VVV_USDC_PERP	+0.0427%	1h	31.670	+0.020%	$155K	$269K	5x	as long as short
GMX VVV/USD [ETH-USDC]	L +0.0436% / S −0.0207%	1h	31.646	−0.058%	$509K	—	100x	as long as short