VVV

Alert: funding

Alert: spread

Funding you earn now, next payment 21:00 UTC−0.0155%/8h= −17.0% APRnext payment −$0.19 per $10,000 · paid last 24h +0.060%

Price spread now: Phoenix against Coinbase International−0.316%72s7-day average +0.011% · you buy dearer than you sell

Net, funding: paid 7d − costs−$74as 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−$1021.019% of the position

Long on Coinbase International Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 7 days+0.275%+$27 on $10k

Price spread, last 3 days (all we have)+0.143%+$14 · spread now −0.316%, 7d avg +0.011%

Together, before fees+0.418%+$42 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$5 a day on $10k at the current rate, and Phoenix is 0.327% cheaper against Coinbase International than usual: you would sell low and buy high (−$33 if the spread goes back to its 7-day average of +0.011%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.275%, so the current rate has only just turned against you. The two prices were read 72 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	Coinbase International VVV-PERP-INTX	31.480	0.0232	pay 0.0029% / 1h	35m 52s	$188K	$1.2M	25x
Short	Phoenix VVV	31.381	0.0077	get 0.0010% / 1h	35m 52s	$55K	$292K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix against Coinbase International. 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 Coinbase InternationalbpFee PhoenixbpOrdersPrice spread, now −0.316%Rate

Funding earned: −$32.54
Price spread: −0.316% → +0.011%: −$32.73
Slippage, 4 orders: −$84.88
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: −$167.15
Costs to cover: 1.019%
Break-even: never at this rate

Slippage from Coinbase International: live order book, 3 min ago; Phoenix: live order book, 49 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 Coinbase International live order book, 3 min ago	23.73 bp	33.4 bp −$33	42.0 bp −$420	doesn't fit	doesn't fit
Sell Phoenix live order book, 49 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	−0.0068%	1h	31.427	−0.169%	$90K	$22K	10x	as long as short
01 Exchange VVVUSD	−0.0024%	1h	31.478	−0.008%	$11K	$3K	3x	as long as short
Kalshi KXVVVPERP	0.0000%	8h	31.469	−0.037%	$117K	$6.8M	1.7x	as long as short
gTrade (Gains Network) VVV/USD	L +0.0004% / S −0.0004%	1h	31.451	−0.095%	$18K	—	150x	as long as short
Injective VVV/USDC PERP	+0.0033%	1h	32.820	+4.255%	$2K	$1K	5.5x	as long as short
Polymarket Perps VVV-USD	+0.0054%	1h	31.449	−0.100%	$134K	$1.2M	3x	as long as short
BloFin VVV-USDT	+0.0064%	4h	31.437	−0.138%	$1.3M	$1.7M	25x	as long as short
Phoenix VVVshort	+0.0077%	1h	31.381	−0.316%	$55K	$292K	5x
RISEx VVV/USDC	+0.0078%	1h	31.452	−0.091%	$385K	$573K	5x	as long as short
Lighter VVV	+0.0096%	1h	31.441	−0.125%	$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	31.423	−0.183%	$464K	$1.6M	5x	as long as short
Nado VVV-PERP	+0.0100%	1h	31.449	−0.098%	$144K	$781K	3x	as long as short
Hyperliquid VVV	+0.0100%	1h	31.476	−0.014%	$71.8M	$54.1M	3x	as long as short
Aster VVVUSDT	+0.0100%	4h	31.460	−0.065%	$276K	$1.8M	10x	as long as short
Pacifica VVV	+0.0100%	1h	31.469	−0.036%	$187K	$176K	10x	as long as short
Binance VVVUSDT	+0.0100%	4h	31.478	−0.007%	$33.3M	$154.3M	25x	as long as short
Bybit VVVUSDT	+0.0100%	4h	31.470	−0.033%	$38.8M	$51.7M	20x	as long as short
OKX VVV-USDT-SWAP	+0.0100%	4h	31.478	−0.008%	$4.7M	$41.0M	20x	as long as short
Gate VVV_USDT	+0.0100%	4h	31.474	−0.021%	$10.6M	$7.7M	25x	as long as short
MEXC VVV_USDT	+0.0100%	4h	31.480	−0.002%	$16.9M	$6.9M	50x	as long as short
KuCoin VVVUSDTM	+0.0100%	4h	31.464	−0.052%	$2.3M	$2.6M	20x	as long as short
Bitget VVVUSDT	+0.0100%	4h	31.460	−0.065%	$5.7M	$8.6M	20x	as long as short
BingX VVV-USDT	+0.0100%	4h	31.482	+0.005%	—	$5.4M	—	as long as short
Variational Omni VVV	+0.0100%	4h	31.327	−0.487%	$2.1M	$184K	—	as long as short
Derive VVV-PERP	+0.0100%	1h	31.444	−0.116%	$1K	$1K	5x	as long as short
Phemex VVVUSDT	+0.0100%	4h	31.408	−0.230%	$2.1M	$2.0M	50x	as long as short
Paradex VVV-USD-PERP	+0.0100%	8h	31.450	−0.096%	$3K	$106	5x	as long as short
Extended VVV-USD	+0.0104%	1h	31.469	−0.038%	$314K	$1.6M	5x	as long as short
Aevo VVV-PERP	+0.0104%	1h	31.464	−0.052%	$6K	$13K	3x	as long as short
edgeX VVVUSDC	+0.0114%	4h	31.380	−0.319%	$78K	$330K	10x	as long as short
Backpack VVV_USDC_PERP	+0.0194%	1h	31.463	−0.056%	$119K	$379K	5x	as long as short
Coinbase International VVV-PERP-INTXlong	+0.0232%	1h	31.480	long leg	$188K	$1.2M	25x
GMX VVV/USD [ETH-USDC]	L +0.0443% / S −0.0195%	1h	31.447	−0.105%	$538K	—	100x	as long as short