Funding arb · Price arb /

VVV

all VVV markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0207%/8h= +22.7% APRpaid last 24h +0.014%

Price spread now: Phoenix against Binance+0.017%7-day average +0.025% · you sell dearer than you buy

Net, funding: paid 7d − costs−$40as in the Funding arb table

Net, price: spread back to 7d avg − costs−$69as in the Price arb table

costs, in and out, $10k−$680.677% of the position

Long on Binance Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 7 days+0.277%+$28 on $10k

Price spread, last 4 days (all we have)−0.028%−$3 · spread now +0.017%, 7d avg +0.025%

Together, before fees+0.248%+$25 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.025%, so right now this pair is about funding alone: +$6 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance VVVUSDT	31.397	0.0100	pay 0.0050% / 4h	1h 44m	$33.9M	$121.2M	25x
Short	Phoenix VVV	31.402	0.0307	get 0.0038% / 1h	44m 39s	$33K	$232K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix against Binance. 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 BinancebpFee PhoenixbpOrdersPrice spread, now +0.017%Rate

Funding earned: $43.53
Price spread: +0.017% → +0.025%: −$0.83
Slippage, 4 orders: −$50.74
Fee Binance: 5 bp × 2 orders: −$10
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: −$25.03
Costs to cover: 0.677%
Break-even: 11.0 days

Slippage from Binance: live order book, 13 min ago; Phoenix: live order book, 61 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 Binance live order book, 13 min ago	0.16 bp	15.2 bp −$15	49.8 bp −$498	doesn't fit	doesn't fit
Sell Phoenix live order book, 61 min ago	2.94 bp	19.8 bp −$20	57.5 bp −$575	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
Coinbase International VVV-PERP-INTX	−0.0088%	1h	31.474	+0.247%	$189K	$1.3M	25x	as long as short
RISEx VVV/USDC	−0.0085%	1h	31.306	−0.288%	$384K	$649K	5x	as long as short
Kalshi KXVVVPERP	0.0000%	8h	31.404	+0.023%	$87K	$5.6M	1.7x	as long as short
Deribit VVV_USDC-PERPETUAL	0.0000%	1h	31.364	−0.105%	$87K	$22K	10x	as long as short
gTrade (Gains Network) VVV/USD	L +0.0004% / S −0.0003%	1h	31.369	−0.089%	$22K	—	150x	as long as short
01 Exchange VVVUSD	+0.0016%	1h	31.320	−0.245%	$11K	$3K	3x	as long as short
Injective VVV/USDC PERP	+0.0033%	1h	32.820	+4.533%	$2K	$1K	5.5x	as long as short
Lighter VVV	+0.0096%	1h	31.346	−0.160%	$2.0M	$4.5M	5x	as long as short
Lighter RH VVV	+0.0096%	1h	31.366	−0.098%	$461K	$1.6M	5x	as long as short
Paradex VVV-USD-PERP	+0.0100%	8h	31.372	−0.079%	$3K	$73	5x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado VVV-PERP	+0.0100%	1h	31.351	−0.146%	$162K	$897K	3x	as long as short
Hyperliquid VVV	+0.0100%	1h	31.409	+0.039%	$70.6M	$47.9M	3x	as long as short
Aster VVVUSDT	+0.0100%	4h	31.370	−0.087%	$249K	$1.0M	10x	as long as short
Pacifica VVV	+0.0100%	1h	31.399	+0.008%	$185K	$128K	10x	as long as short
Binance VVVUSDTlong	+0.0100%	4h	31.397	long leg	$33.9M	$121.2M	25x
Bybit VVVUSDT	+0.0100%	4h	31.362	−0.112%	$38.6M	$41.6M	20x	as long as short
OKX VVV-USDT-SWAP	+0.0100%	4h	31.379	−0.057%	$4.9M	$30.9M	20x	as long as short
Gate VVV_USDT	+0.0100%	4h	31.380	−0.053%	$11.2M	$5.4M	25x	as long as short
MEXC VVV_USDT	+0.0100%	4h	31.391	−0.018%	$6.7M	$5.6M	50x	as long as short
KuCoin VVVUSDTM	+0.0100%	4h	31.363	−0.108%	$1.8M	$2.8M	20x	as long as short
Bitget VVVUSDT	+0.0100%	4h	31.371	−0.082%	$5.7M	$7.1M	20x	as long as short
BingX VVV-USDT	+0.0100%	4h	31.389	−0.025%	—	$4.9M	—	as long as short
Variational Omni VVV	+0.0100%	4h	31.270	−0.404%	$2.0M	$352K	—	as long as short
Polymarket Perps VVV-USD	+0.0100%	1h	31.363	−0.108%	$122K	$1.4M	3x	as long as short
Derive VVV-PERP	+0.0100%	1h	31.362	−0.111%	$3K	$3K	5x	as long as short
Phemex VVVUSDT	+0.0100%	4h	31.352	−0.143%	$2.0M	$2.1M	50x	as long as short
Extended VVV-USD	+0.0104%	1h	31.376	−0.066%	$300K	$2.2M	5x	as long as short
Aevo VVV-PERP	+0.0104%	1h	31.357	−0.128%	$6K	—	3x	as long as short
edgeX VVVUSDC	+0.0108%	4h	31.371	−0.082%	$78K	$333K	10x	as long as short
BloFin VVV-USDT	+0.0159%	4h	31.385	−0.038%	$1.4M	$1.5M	25x	as long as short
Phoenix VVVshort	+0.0307%	1h	31.402	+0.017%	$33K	$232K	5x
GMX VVV/USD [ETH-USDC]	L +0.0427% / S −0.0200%	1h	31.377	−0.062%	$502K	—	100x	as long as short
Backpack VVV_USDC_PERP	+0.0444%	1h	31.405	+0.025%	$150K	$264K	5x	as long as short