Funding arb · Price arb /

VVV

all VVV markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0040%/8h= −4.4% APRpaid last 24h +0.012%

Price spread now: Phoenix against BloFin−0.749%7-day average −0.042% · you buy dearer than you sell

Net, funding: paid 7d − costs−$45as in the Funding arb table

Net, price: spread back to 7d avg − costs−$133as in the Price arb table

costs, in and out, $10k−$620.622% of the position

Long on BloFin Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 7 days+0.172%+$17 on $10k

Price spread, last 3 days (all we have)+0.346%+$35 · spread now −0.749%, 7d avg −0.042%

Together, before fees+0.517%+$52 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 0.707% cheaper against BloFin than usual: you would sell low and buy high (−$71 if the spread goes back to its 7-day average of −0.042%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.172%, 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	BloFin VVV-USDT	32.296	0.0138	pay 0.0069% / 4h	54m 05s	$1.3M	$1.8M	25x
Short	Phoenix VVV	32.054	0.0098	get 0.0012% / 1h	54m 05s	$56K	$299K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix against BloFin. 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 BloFinbpFee PhoenixbpOrdersPrice spread, now −0.749%Rate

Funding earned: −$8.35
Price spread: −0.749% → −0.042%: −$70.7
Slippage, 4 orders: −$43.23
Fee BloFin: 6 bp × 2 orders: −$12
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: −$141.28
Costs to cover: 0.622%
Break-even: never at this rate

Slippage from BloFin: live order book, 4 min ago; Phoenix: live order book, 21 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 BloFin live order book, 4 min ago	0.31 bp	11.1 bp −$11	27.2 bp −$272	doesn't fit	doesn't fit
Sell Phoenix live order book, 21 min ago	3.10 bp	19.7 bp −$20	57.4 bp −$574	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
Kalshi KXVVVPERP	0.0000%	8h	32.310	+0.043%	$113K	$6.9M	1.7x	as long as short
Deribit VVV_USDC-PERPETUAL	0.0000%	1h	32.288	−0.024%	$91K	$23K	10x	as long as short
gTrade (Gains Network) VVV/USD	L +0.0004% / S −0.0004%	1h	32.291	−0.017%	$19K	—	150x	as long as short
Injective VVV/USDC PERP	+0.0033%	1h	32.820	+1.622%	$2K	$1K	5.5x	as long as short
RISEx VVV/USDC	+0.0040%	1h	32.296	+0.001%	$397K	$604K	5x	as long as short
Polymarket Perps VVV-USD	+0.0058%	1h	32.276	−0.062%	$146K	$1.2M	3x	as long as short
01 Exchange VVVUSD	+0.0080%	1h	32.320	+0.074%	$12K	$3K	3x	as long as short
Lighter VVV	+0.0096%	1h	32.347	+0.158%	$2.3M	$5.5M	5x	as long as short
Lighter RH VVV	+0.0096%	1h	32.311	+0.046%	$480K	$1.6M	5x	as long as short
Phoenix VVVshort	+0.0098%	1h	32.054	−0.749%	$56K	$299K	5x

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado VVV-PERP	+0.0100%	1h	32.293	−0.009%	$125K	$796K	3x	as long as short
Hyperliquid VVV	+0.0100%	1h	32.350	+0.167%	$74.9M	$55.8M	3x	as long as short
Aster VVVUSDT	+0.0100%	4h	32.341	+0.139%	$266K	$1.9M	10x	as long as short
Pacifica VVV	+0.0100%	1h	32.318	+0.067%	$193K	$191K	10x	as long as short
Binance VVVUSDT	+0.0100%	4h	32.337	+0.127%	$33.8M	$157.1M	25x	as long as short
Bybit VVVUSDT	+0.0100%	4h	32.327	+0.097%	$39.7M	$52.6M	20x	as long as short
OKX VVV-USDT-SWAP	+0.0100%	4h	32.346	+0.155%	$4.7M	$42.9M	20x	as long as short
Gate VVV_USDT	+0.0100%	4h	32.337	+0.127%	$10.9M	$7.5M	25x	as long as short
MEXC VVV_USDT	+0.0100%	4h	32.334	+0.118%	$6.4M	$7.0M	50x	as long as short
KuCoin VVVUSDTM	+0.0100%	4h	32.338	+0.130%	$2.0M	$2.8M	20x	as long as short
Bitget VVVUSDT	+0.0100%	4h	32.328	+0.099%	$5.9M	$8.9M	20x	as long as short
BingX VVV-USDT	+0.0100%	4h	32.337	+0.127%	—	$5.5M	—	as long as short
Variational Omni VVV	+0.0100%	4h	32.149	−0.456%	$2.1M	$183K	—	as long as short
Derive VVV-PERP	+0.0100%	1h	32.289	−0.022%	$1K	$1K	5x	as long as short
Phemex VVVUSDT	+0.0100%	4h	32.342	+0.142%	$2.1M	$2.1M	50x	as long as short
Paradex VVV-USD-PERP	+0.0100%	8h	32.308	+0.037%	$3K	$106	5x	as long as short
Extended VVV-USD	+0.0104%	1h	32.316	+0.060%	$325K	$1.6M	5x	as long as short
Aevo VVV-PERP	+0.0104%	1h	32.293	−0.009%	$6K	$13K	3x	as long as short
edgeX VVVUSDC	+0.0105%	4h	32.165	−0.405%	$80K	$332K	10x	as long as short
BloFin VVV-USDTlong	+0.0138%	4h	32.296	long leg	$1.3M	$1.8M	25x
Backpack VVV_USDC_PERP	+0.0142%	1h	32.352	+0.174%	$122K	$361K	5x	as long as short
GMX VVV/USD [ETH-USDC]	L +0.0184% / S +0.0170%	1h	32.283	−0.039%	$621K	—	100x	as long as short
Coinbase International VVV-PERP-INTX	+0.0192%	1h	32.278	−0.057%	$242K	$1.4M	25x	as long as short