Funding arb · Price arb /

VVV

all VVV markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 21:00 UTC−0.0023%/8h= −2.5% APRpaid last 24h +0.025%

Price spread now: Phoenix against BingX+0.019%7-day average +0.017% · you sell dearer than you buy

Net, funding: paid 7d − costs−$29as in the Funding arb table

Net, price: spread back to 7d avg − costs−$60as in the Price arb table

costs, in and out, $10k−$610.606% of the position

Long on BingX Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 7 days+0.313%+$31 on $10k

Price spread, last 3 days (all we have)−0.128%−$13 · spread now +0.019%, 7d avg +0.017%

Together, before fees+0.185%+$18 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.017%, so right now this pair is about funding alone: −$1 a day on $10k at the current rate. Mind the row above: over the last 7 days funding on this pair paid +0.313%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX VVV-USDT	31.376	0.0100	pay 0.0050% / 4h	2h 39m	—	$5.4M	—
Short	Phoenix VVV	31.382	0.0077	get 0.0010% / 1h	39m 16s	$55K	$292K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix against BingX. 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 BingXbpFee PhoenixbpOrdersPrice spread, now +0.019%Rate

Funding earned: −$4.82
Price spread: +0.019% → +0.017%: $0.26
Slippage, 4 orders: −$43.58
Fee BingX: 5 bp × 2 orders: −$10
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: −$65.14
Costs to cover: 0.606%
Break-even: never at this rate

Slippage from BingX: live order book, 11 min ago; Phoenix: live order book, 45 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 BingX live order book, 11 min ago	0.16 bp	10.9 bp −$11	26.5 bp −$265	329.3 bp −$32.9K	744.6 bp −$372.3K
Sell Phoenix live order book, 45 min ago	2.87 bp	19.9 bp −$20	57.6 bp −$576	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
01 Exchange VVVUSD	−0.0048%	1h	31.366	−0.032%	$11K	$3K	3x	as long as short
Kalshi KXVVVPERP	0.0000%	8h	31.377	+0.003%	$117K	$6.8M	1.7x	as long as short
Deribit VVV_USDC-PERPETUAL	0.0000%	1h	31.373	−0.011%	$90K	$22K	10x	as long as short
gTrade (Gains Network) VVV/USD	L +0.0004% / S −0.0004%	1h	31.376	−0.001%	$18K	—	150x	as long as short
Injective VVV/USDC PERP	+0.0033%	1h	32.820	+4.602%	$2K	$1K	5.5x	as long as short
BloFin VVV-USDT	+0.0050%	4h	31.374	−0.006%	$1.3M	$1.7M	25x	as long as short
Polymarket Perps VVV-USD	+0.0059%	1h	31.345	−0.099%	$134K	$1.2M	3x	as long as short
Phoenix VVVshort	+0.0077%	1h	31.382	+0.019%	$55K	$292K	5x
RISEx VVV/USDC	+0.0078%	1h	31.359	−0.055%	$384K	$572K	5x	as long as short
Lighter VVV	+0.0096%	1h	31.378	+0.005%	$2.2M	$5.4M	5x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter RH VVV	+0.0096%	1h	31.365	−0.035%	$462K	$1.6M	5x	as long as short
Nado VVV-PERP	+0.0100%	1h	31.370	−0.018%	$144K	$781K	3x	as long as short
Hyperliquid VVV	+0.0100%	1h	31.410	+0.108%	$71.6M	$54.1M	3x	as long as short
Aster VVVUSDT	+0.0100%	4h	31.395	+0.059%	$275K	$1.8M	10x	as long as short
Pacifica VVV	+0.0100%	1h	31.377	+0.003%	$186K	$176K	10x	as long as short
Binance VVVUSDT	+0.0100%	4h	31.377	+0.004%	$33.2M	$154.3M	25x	as long as short
Bybit VVVUSDT	+0.0100%	4h	31.378	+0.007%	$38.7M	$51.7M	20x	as long as short
OKX VVV-USDT-SWAP	+0.0100%	4h	31.374	−0.006%	$4.7M	$40.9M	20x	as long as short
Gate VVV_USDT	+0.0100%	4h	31.373	−0.010%	$10.6M	$7.7M	25x	as long as short
MEXC VVV_USDT	+0.0100%	4h	31.373	−0.010%	$16.8M	$6.9M	50x	as long as short
KuCoin VVVUSDTM	+0.0100%	4h	31.332	−0.140%	$2.3M	$2.6M	20x	as long as short
Bitget VVVUSDT	+0.0100%	4h	31.350	−0.083%	$5.7M	$8.6M	20x	as long as short
BingX VVV-USDTlong	+0.0100%	4h	31.376	long leg	—	$5.4M	—
Variational Omni VVV	+0.0100%	4h	31.327	−0.156%	$2.1M	$184K	—	as long as short
Derive VVV-PERP	+0.0100%	1h	31.369	−0.022%	$1K	$1K	5x	as long as short
Phemex VVVUSDT	+0.0100%	4h	31.366	−0.032%	$2.1M	$2.0M	50x	as long as short
Paradex VVV-USD-PERP	+0.0100%	8h	31.354	−0.069%	$3K	$106	5x	as long as short
Extended VVV-USD	+0.0104%	1h	31.376	−0.001%	$312K	$1.6M	5x	as long as short
Aevo VVV-PERP	+0.0104%	1h	31.381	+0.016%	$6K	$13K	3x	as long as short
edgeX VVVUSDC	+0.0114%	4h	31.349	−0.085%	$78K	$330K	10x	as long as short
Backpack VVV_USDC_PERP	+0.0173%	1h	31.398	+0.071%	$118K	$379K	5x	as long as short
Coinbase International VVV-PERP-INTX	+0.0232%	1h	31.325	−0.164%	$172K	$1.2M	25x	as long as short
GMX VVV/USD [ETH-USDC]	L +0.0442% / S −0.0195%	1h	31.373	−0.009%	$536K	—	100x	as long as short