Funding arb · Price arb /

VVV

all VVV markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0044%/8h= +4.8% APRpaid last 24h −0.005%

Price spread now: Coinbase International against Bybit−0.727%7-day average +0.055% · you buy dearer than you sell

Net, funding: paid 7d − costs−$90as in the Funding arb table

Net, price: spread back to 7d avg − costs−$184as in the Price arb table

costs, in and out, $10k−$1061.058% of the position

Long on Bybit Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+0.159%+$16 on $10k

Price spread, last 3 days (all we have)+0.321%+$32 · spread now −0.727%, 7d avg +0.055%

Together, before fees+0.480%+$48 on $10k · with fees, hour by hour

Funding pays, the price is against you. Coinbase International is 0.783% cheaper against Bybit than usual: you would sell low and buy high (spread −0.727% now, against its 7-day average of +0.055%). If the spread goes back, that is −$78 on $10k: about 59 days of funding at the current rate (+$1 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit VVVUSDT	32.785	0.0100	pay 0.0050% / 4h	1h 42m	$40.4M	$52.4M	20x
Short	Coinbase International VVV-PERP-INTX	32.547	0.0144	get 0.0018% / 1h	42m 07s	$198K	$1.1M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against Bybit. 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 BybitbpFee Coinbase InternationalbpOrdersPrice spread, now −0.727%Rate

Funding earned: $9.24
Price spread: −0.727% → +0.055%: −$78.29
Slippage, 4 orders: −$84.78
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$174.83
Costs to cover: 1.058%
Break-even: 139.4 days

Slippage from Bybit: live order book, 2 min ago; Coinbase International: live order book, 1 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 Bybit live order book, 2 min ago	2.29 bp	18.4 bp −$18	62.3 bp −$623	doesn't fit	doesn't fit
Sell Coinbase International live order book, 1 min ago	26.24 bp	31.3 bp −$31	44.1 bp −$441	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	32.805	+0.061%	$108K	$6.8M	1.7x	as long as short
Deribit VVV_USDC-PERPETUAL	0.0000%	1h	32.803	+0.056%	$93K	$23K	10x	as long as short
gTrade (Gains Network) VVV/USD	L +0.0004% / S −0.0004%	1h	32.811	+0.080%	$19K	—	150x	as long as short
Injective VVV/USDC PERP	+0.0033%	1h	32.820	+0.107%	$2K	$1K	5.5x	as long as short
Lighter VVV	+0.0096%	1h	32.813	+0.087%	$2.3M	$5.4M	5x	as long as short
Lighter RH VVV	+0.0096%	1h	32.803	+0.055%	$491K	$1.6M	5x	as long as short
Phoenix VVV	+0.0098%	1h	32.696	−0.271%	$57K	$294K	5x	as long as short
Nado VVV-PERP	+0.0100%	1h	32.806	+0.066%	$151K	$783K	3x	as long as short
Aster VVVUSDT	+0.0100%	4h	32.795	+0.031%	$273K	$1.9M	10x	as long as short
Pacifica VVV	+0.0100%	1h	32.797	+0.036%	$188K	$183K	10x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance VVVUSDT	+0.0100%	4h	32.809	+0.073%	$34.5M	$156.1M	25x	as long as short
Bybit VVVUSDTlong	+0.0100%	4h	32.785	long leg	$40.4M	$52.4M	20x
OKX VVV-USDT-SWAP	+0.0100%	4h	32.792	+0.021%	$4.8M	$43.2M	20x	as long as short
Gate VVV_USDT	+0.0100%	4h	32.808	+0.070%	$11.1M	$7.7M	25x	as long as short
MEXC VVV_USDT	+0.0100%	4h	32.814	+0.088%	$6.4M	$7.0M	50x	as long as short
KuCoin VVVUSDTM	+0.0100%	4h	32.806	+0.064%	$2.1M	$2.8M	20x	as long as short
Bitget VVVUSDT	+0.0100%	4h	32.812	+0.082%	$5.9M	$8.8M	20x	as long as short
BingX VVV-USDT	+0.0100%	4h	32.802	+0.052%	—	$5.5M	—	as long as short
Variational Omni VVV	+0.0100%	4h	32.517	−0.816%	$2.1M	$180K	—	as long as short
Polymarket Perps VVV-USD	+0.0100%	1h	32.775	−0.031%	$141K	$1.2M	3x	as long as short
Derive VVV-PERP	+0.0100%	1h	32.794	+0.028%	$1K	$1K	5x	as long as short
Phemex VVVUSDT	+0.0100%	4h	32.777	−0.024%	$2.1M	$2.0M	50x	as long as short
Paradex VVV-USD-PERP	+0.0100%	8h	32.802	+0.051%	$3K	$106	5x	as long as short
Extended VVV-USD	+0.0104%	1h	32.805	+0.060%	$324K	$1.6M	5x	as long as short
Aevo VVV-PERP	+0.0104%	1h	32.799	+0.043%	$7K	$13K	3x	as long as short
edgeX VVVUSDC	+0.0107%	4h	32.692	−0.285%	$81K	$333K	10x	as long as short
BloFin VVV-USDT	+0.0112%	4h	32.764	−0.064%	$1.4M	$1.8M	25x	as long as short
Coinbase International VVV-PERP-INTXshort	+0.0144%	1h	32.547	−0.727%	$198K	$1.1M	25x
RISEx VVV/USDC	+0.0175%	1h	32.799	+0.044%	$402K	$594K	5x	as long as short
GMX VVV/USD [ETH-USDC]	L +0.0190% / S +0.0135%	1h	32.800	+0.047%	$596K	—	100x	as long as short
Backpack VVV_USDC_PERP	+0.0357%	1h	32.828	+0.130%	$126K	$374K	5x	as long as short
01 Exchange VVVUSD	+0.0512%	1h	32.857	+0.220%	$12K	$3K	3x	as long as short
Hyperliquid VVV	+0.0789%	1h	32.851	+0.201%	$76.7M	$55.5M	3x	as long as short