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 +0.073%

Price spread now: Phoenix against Gate+0.145%7-day average +0.093% · you sell dearer than you buy

Net, funding: paid 7d − costs−$44as in the Funding arb table

Net, price: spread back to 7d avg − costs−$86as in the Price arb table

costs, in and out, $10k−$910.909% of the position

Long on Gate Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 7 days+0.474%+$47 on $10k

Price spread, last 3 days (all we have)−0.134%−$13 · spread now +0.145%, 7d avg +0.093%

Together, before fees+0.340%+$34 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Phoenix is 0.052% dearer against Gate than usual: you sell high and buy low (spread +0.145% now, against its 7-day average of +0.093%): +$5 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 7.6 days. Mind the row above: over the last 7 days funding on this pair paid +0.474%, 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	Gate VVV_USDT	32.492	0.0100	pay 0.0050% / 4h	1h 55m	$11.0M	$7.7M	25x
Short	Phoenix VVV	32.539	0.0077	get 0.0010% / 1h	55m 28s	$57K	$294K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix against Gate. 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 GatebpFee PhoenixbpOrdersPrice spread, now +0.145%Rate

Funding earned: −$4.82
Price spread: +0.145% → +0.093%: $5.21
Slippage, 4 orders: −$68.93
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: −$90.55
Costs to cover: 0.909%
Break-even: never at this rate

Slippage from Gate: live order book, 3 min ago; Phoenix: live order book, 25 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 Gate live order book, 3 min ago	6.62 bp	28.5 bp −$28	694.3 bp −$6,943	doesn't fit	doesn't fit
Sell Phoenix live order book, 25 min ago	3.12 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
Deribit VVV_USDC-PERPETUAL	−0.0002%	1h	32.514	+0.069%	$92K	$23K	10x	as long as short
Kalshi KXVVVPERP	0.0000%	8h	32.560	+0.209%	$107K	$6.8M	1.7x	as long as short
gTrade (Gains Network) VVV/USD	L +0.0004% / S −0.0004%	1h	32.519	+0.083%	$19K	—	150x	as long as short
Injective VVV/USDC PERP	+0.0033%	1h	32.820	+1.009%	$2K	$1K	5.5x	as long as short
Phoenix VVVshort	+0.0077%	1h	32.539	+0.145%	$57K	$294K	5x
Lighter VVV	+0.0096%	1h	32.496	+0.011%	$2.2M	$5.4M	5x	as long as short
Lighter RH VVV	+0.0096%	1h	32.505	+0.040%	$485K	$1.6M	5x	as long as short
Nado VVV-PERP	+0.0100%	1h	32.516	+0.074%	$150K	$781K	3x	as long as short
Aster VVVUSDT	+0.0100%	4h	32.491	−0.003%	$275K	$1.8M	10x	as long as short
Pacifica VVV	+0.0100%	1h	32.497	+0.015%	$193K	$176K	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	32.515	+0.070%	$34.3M	$155.7M	25x	as long as short
Bybit VVVUSDT	+0.0100%	4h	32.496	+0.012%	$40.0M	$52.3M	20x	as long as short
OKX VVV-USDT-SWAP	+0.0100%	4h	32.503	+0.034%	$4.8M	$42.7M	20x	as long as short
Gate VVV_USDTlong	+0.0100%	4h	32.492	long leg	$11.0M	$7.7M	25x
MEXC VVV_USDT	+0.0100%	4h	32.516	+0.074%	$17.6M	$7.0M	50x	as long as short
KuCoin VVVUSDTM	+0.0100%	4h	32.516	+0.074%	$2.0M	$2.8M	20x	as long as short
Bitget VVVUSDT	+0.0100%	4h	32.515	+0.071%	$5.9M	$8.8M	20x	as long as short
BingX VVV-USDT	+0.0100%	4h	32.496	+0.012%	—	$5.4M	—	as long as short
Variational Omni VVV	+0.0100%	4h	32.611	+0.366%	$2.1M	$180K	—	as long as short
Polymarket Perps VVV-USD	+0.0100%	1h	32.501	+0.028%	$150K	$1.2M	3x	as long as short
Derive VVV-PERP	+0.0100%	1h	32.511	+0.059%	$1K	$1K	5x	as long as short
Phemex VVVUSDT	+0.0100%	4h	32.492	0.000%	$2.1M	$2.0M	50x	as long as short
Paradex VVV-USD-PERP	+0.0100%	8h	32.500	+0.025%	$3K	$106	5x	as long as short
Extended VVV-USD	+0.0104%	1h	32.492	0.000%	$321K	$1.6M	5x	as long as short
Aevo VVV-PERP	+0.0104%	1h	32.516	+0.075%	$7K	$13K	3x	as long as short
BloFin VVV-USDT	+0.0112%	4h	32.521	+0.089%	$1.4M	$1.8M	25x	as long as short
edgeX VVVUSDC	+0.0112%	4h	32.506	+0.042%	$81K	$330K	10x	as long as short
Coinbase International VVV-PERP-INTX	+0.0144%	1h	32.490	−0.006%	$200K	$1.1M	25x	as long as short
RISEx VVV/USDC	+0.0175%	1h	32.498	+0.020%	$402K	$583K	5x	as long as short
GMX VVV/USD [ETH-USDC]	L +0.0191% / S +0.0097%	1h	32.520	+0.085%	$567K	—	100x	as long as short
Backpack VVV_USDC_PERP	+0.0469%	1h	32.561	+0.213%	$125K	$377K	5x	as long as short
01 Exchange VVVUSD	+0.0600%	1h	32.546	+0.166%	$12K	$3K	3x	as long as short
Hyperliquid VVV	+0.0885%	1h	32.567	+0.231%	$75.5M	$55.3M	3x	as long as short