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 +0.052%

Price spread now: Phoenix against Bitget−0.214%79s7-day average +0.075% · you buy dearer than you sell

Net, funding: paid 7d − costs−$38as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$760.758% of the position

Long on Bitget Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 7 days+0.373%+$37 on $10k

Price spread, last 3 days (all we have)+0.246%+$25 · spread now −0.214%, 7d avg +0.075%

Together, before fees+0.619%+$62 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Phoenix is 0.289% cheaper against Bitget than usual: you would sell low and buy high (−$29 if the spread goes back to its 7-day average of +0.075%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.373%, so the current rate has only just turned against you. The two prices were read 79 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget VVVUSDT	31.351	0.0100	pay 0.0050% / 4h	2h 40m	$5.7M	$8.6M	20x
Short	Phoenix VVV	31.284	0.0077	get 0.0010% / 1h	40m 12s	$55K	$292K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix against Bitget. 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 BitgetbpFee PhoenixbpOrdersPrice spread, now −0.214%Rate

Funding earned: −$4.82
Price spread: −0.214% → +0.075%: −$28.91
Slippage, 4 orders: −$56.78
Fee Bitget: 6 bp × 2 orders: −$12
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: −$109.52
Costs to cover: 0.758%
Break-even: never at this rate

Slippage from Bitget: live order book, 3 min ago; Phoenix: live order book, 44 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 Bitget live order book, 3 min ago	4.15 bp	18.7 bp −$19	41.8 bp −$418	doesn't fit	doesn't fit
Sell Phoenix live order book, 44 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
Deribit VVV_USDC-PERPETUAL	−0.0072%	1h	31.367	+0.050%	$90K	$22K	10x	as long as short
01 Exchange VVVUSD	−0.0056%	1h	31.350	−0.003%	$11K	$3K	3x	as long as short
Kalshi KXVVVPERP	0.0000%	8h	31.367	+0.051%	$117K	$6.8M	1.7x	as long as short
gTrade (Gains Network) VVV/USD	L +0.0004% / S −0.0004%	1h	31.377	+0.083%	$18K	—	150x	as long as short
Injective VVV/USDC PERP	+0.0033%	1h	32.820	+4.686%	$2K	$1K	5.5x	as long as short
BloFin VVV-USDT	+0.0058%	4h	31.347	−0.013%	$1.3M	$1.7M	25x	as long as short
Polymarket Perps VVV-USD	+0.0063%	1h	31.348	−0.010%	$134K	$1.2M	3x	as long as short
Phoenix VVVshort	+0.0077%	1h	31.284	−0.214%	$55K	$292K	5x
RISEx VVV/USDC	+0.0078%	1h	31.361	+0.032%	$384K	$572K	5x	as long as short
Lighter VVV	+0.0096%	1h	31.379	+0.090%	$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	31.362	+0.035%	$462K	$1.6M	5x	as long as short
Nado VVV-PERP	+0.0100%	1h	31.380	+0.094%	$144K	$781K	3x	as long as short
Hyperliquid VVV	+0.0100%	1h	31.409	+0.185%	$71.6M	$54.1M	3x	as long as short
Aster VVVUSDT	+0.0100%	4h	31.379	+0.089%	$275K	$1.8M	10x	as long as short
Pacifica VVV	+0.0100%	1h	31.382	+0.098%	$186K	$176K	10x	as long as short
Binance VVVUSDT	+0.0100%	4h	31.374	+0.075%	$33.2M	$154.3M	25x	as long as short
Bybit VVVUSDT	+0.0100%	4h	31.364	+0.043%	$38.6M	$51.7M	20x	as long as short
OKX VVV-USDT-SWAP	+0.0100%	4h	31.364	+0.041%	$4.7M	$40.9M	20x	as long as short
Gate VVV_USDT	+0.0100%	4h	31.353	+0.006%	$10.6M	$7.7M	25x	as long as short
MEXC VVV_USDT	+0.0100%	4h	31.382	+0.099%	$16.8M	$6.9M	50x	as long as short
KuCoin VVVUSDTM	+0.0100%	4h	31.355	+0.013%	$2.3M	$2.6M	20x	as long as short
Bitget VVVUSDTlong	+0.0100%	4h	31.351	long leg	$5.7M	$8.6M	20x
BingX VVV-USDT	+0.0100%	4h	31.372	+0.067%	—	$5.4M	—	as long as short
Variational Omni VVV	+0.0100%	4h	31.327	−0.076%	$2.1M	$184K	—	as long as short
Derive VVV-PERP	+0.0100%	1h	31.371	+0.065%	$1K	$1K	5x	as long as short
Phemex VVVUSDT	+0.0100%	4h	31.368	+0.054%	$2.1M	$2.0M	50x	as long as short
Paradex VVV-USD-PERP	+0.0100%	8h	31.366	+0.047%	$3K	$106	5x	as long as short
Extended VVV-USD	+0.0104%	1h	31.373	+0.069%	$312K	$1.6M	5x	as long as short
Aevo VVV-PERP	+0.0104%	1h	31.367	+0.051%	$6K	$13K	3x	as long as short
edgeX VVVUSDC	+0.0111%	4h	31.263	−0.280%	$78K	$332K	10x	as long as short
Backpack VVV_USDC_PERP	+0.0173%	1h	31.398	+0.151%	$118K	$379K	5x	as long as short
Coinbase International VVV-PERP-INTX	+0.0232%	1h	31.407	+0.178%	$183K	$1.2M	25x	as long as short
GMX VVV/USD [ETH-USDC]	L +0.0442% / S −0.0195%	1h	31.370	+0.061%	$536K	—	100x	as long as short