Funding arb · Price arb /

VVV

all VVV markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0223%/8h= −24.4% APRpaid last 24h −0.107%

Price spread now: Phemex against Hyperliquid−0.025%7-day average −0.036% · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Hyperliquid Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days−0.222%−$22 on $10k

Price spread, last 3 days (all we have)+0.130%+$13 · spread now −0.025%, 7d avg −0.036%

Together, before fees−0.092%+ Points / potential airdropHyperliquid: Season 2 · farm board−$9 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.036%, so right now this pair is about funding alone: −$7 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid VVV	32.187	0.0323	pay 0.0040% / 1h	17m 08s	$74.7M	$56.1M	3x
Short	Phemex VVVUSDT	32.179	0.0100	get 0.0050% / 4h	1h 17m	$2.1M	$2.1M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against Hyperliquid. 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 HyperliquidbpFee PhemexbpOrdersPrice spread, now −0.025%Rate

Funding earned: −$46.74
Price spread: −0.025% → −0.036%: $1.14
Slippage, 4 orders: no order book: not counted
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$66.6
Costs to cover: 0.210%
Break-even: never at this rate

Slippage unknown: Hyperliquid: live order book, 6 min ago; Phemex: live order book, 1 min ago. Net counts fees only.

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 Hyperliquid live order book, 6 min ago	2.02 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit
Sell Phemex live order book, 1 min ago	1.40 bp	37.8 bp −$38	doesn't fit	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	32.118	−0.214%	$107K	$6.9M	1.7x	as long as short
Deribit VVV_USDC-PERPETUAL	0.0000%	1h	32.171	−0.049%	$91K	$23K	10x	as long as short
gTrade (Gains Network) VVV/USD	L +0.0004% / S −0.0004%	1h	32.166	−0.066%	$19K	—	150x	as long as short
Injective VVV/USDC PERP	+0.0033%	1h	32.820	+1.967%	$2K	$1K	5.5x	as long as short
BloFin VVV-USDT	+0.0069%	4h	32.190	+0.009%	$1.3M	$1.8M	25x	as long as short
Lighter VVV	+0.0096%	1h	32.190	+0.010%	$2.3M	$5.5M	5x	as long as short
Lighter RH VVV	+0.0096%	1h	32.165	−0.068%	$478K	$1.6M	5x	as long as short
Phoenix VVV	+0.0098%	1h	32.131	−0.174%	$56K	$294K	5x	as long as short
Nado VVV-PERP	+0.0100%	1h	32.160	−0.082%	$148K	$783K	3x	as long as short
Aster VVVUSDT	+0.0100%	4h	32.165	−0.068%	$264K	$1.9M	10x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica VVV	+0.0100%	1h	32.165	−0.069%	$185K	$183K	10x	as long as short
Binance VVVUSDT	+0.0100%	4h	32.180	−0.022%	$33.6M	$157.5M	25x	as long as short
Bybit VVVUSDT	+0.0100%	4h	32.156	−0.096%	$39.6M	$52.8M	20x	as long as short
OKX VVV-USDT-SWAP	+0.0100%	4h	32.190	+0.009%	$4.7M	$42.8M	20x	as long as short
Gate VVV_USDT	+0.0100%	4h	32.162	−0.078%	$10.8M	$7.8M	25x	as long as short
MEXC VVV_USDT	+0.0100%	4h	32.188	+0.003%	$6.3M	$7.1M	50x	as long as short
KuCoin VVVUSDTM	+0.0100%	4h	32.144	−0.134%	$2.0M	$2.8M	20x	as long as short
Bitget VVVUSDT	+0.0100%	4h	32.162	−0.078%	$5.8M	$8.9M	20x	as long as short
BingX VVV-USDT	+0.0100%	4h	32.188	+0.003%	—	$5.5M	—	as long as short
Variational Omni VVV	+0.0100%	4h	32.091	−0.298%	$2.1M	$183K	—	as long as short
Polymarket Perps VVV-USD	+0.0100%	1h	32.147	−0.124%	$139K	$1.2M	3x	as long as short
Derive VVV-PERP	+0.0100%	1h	32.170	−0.053%	$1K	$1K	5x	as long as short
Phemex VVVUSDTshort	+0.0100%	4h	32.179	−0.025%	$2.1M	$2.1M	50x
Paradex VVV-USD-PERP	+0.0100%	8h	32.155	−0.098%	$3K	$106	5x	as long as short
Extended VVV-USD	+0.0104%	1h	32.164	−0.072%	$323K	$1.6M	5x	as long as short
Aevo VVV-PERP	+0.0104%	1h	32.156	−0.097%	$6K	$13K	3x	as long as short
edgeX VVVUSDC	+0.0109%	4h	32.083	−0.324%	$80K	$333K	10x	as long as short
Coinbase International VVV-PERP-INTX	+0.0144%	1h	32.184	−0.011%	$241K	$1.3M	25x	as long as short
RISEx VVV/USDC	+0.0175%	1h	32.152	−0.107%	$394K	$598K	5x	as long as short
GMX VVV/USD [ETH-USDC]	L +0.0187% / S +0.0167%	1h	32.152	−0.108%	$618K	—	100x	as long as short
Backpack VVV_USDC_PERP	+0.0223%	1h	32.205	+0.054%	$122K	$374K	5x	as long as short
Hyperliquid VVVlong	+0.0323%	1h	32.187	long leg	$74.7M	$56.1M	3x
01 Exchange VVVUSD	+0.0344%	1h	32.168	−0.059%	$11K	$3K	3x	as long as short