Funding arb · Price arb /

VVV

all VVV markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0067%/8h= +7.3% APRpaid last 24h +0.010%

Price spread now: Phemex against Injective−6.816%65s7-day average — · you buy dearer than you sell

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

Long on Injective Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Funding pays, the price is against you. Phemex is 6.816% cheaper against Injective than usual: you would sell low and buy high (spread −6.816% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$682 on $10k: about 11 months of funding at the current rate (+$2 a day). The two prices were read 65 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	Injective VVV/USDC PERP	32.820	0.0033	pay 0.0004% / 1h	9m 26s	$2K	$1K	5.5x
Short	Phemex VVVUSDT	30.583	0.0100	get 0.0050% / 4h	3h 09m	$2.0M	$2.1M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against Injective. 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 InjectivebpFee PhemexbpOrdersPrice spread, now −6.816%Rate

Funding earned: $14
Price spread: −6.816% → 0.000%: −$681.6
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$679.62
Costs to cover: 0.120%
Break-even: 346.8 days

Slippage unknown: Injective: no order-book sample; Phemex: live order book, 4 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 Injective no order-book sample	—	—	—	—	—
Sell Phemex live order book, 4 min ago	1.63 bp	45.0 bp −$45	doesn't fit	doesn't fit	doesn't fit

Injective: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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
RISEx VVV/USDC	−0.0417%	1h	30.566	−6.868%	$375K	$645K	5x	as long as short
Polymarket Perps VVV-USD	−0.0108%	1h	30.562	−6.880%	$124K	$1.3M	3x	as long as short
Coinbase International VVV-PERP-INTX	−0.0088%	1h	30.642	−6.636%	$143K	$1.2M	25x	as long as short
Deribit VVV_USDC-PERPETUAL	0.0000%	1h	30.571	−6.852%	$85K	$22K	10x	as long as short
gTrade (Gains Network) VVV/USD	L +0.0004% / S −0.0006%	1h	30.573	−6.846%	$21K	—	150x	as long as short
Injective VVV/USDC PERPlong	+0.0033%	1h	32.820	long leg	$2K	$1K	5.5x
BloFin VVV-USDT	+0.0043%	4h	30.665	−6.566%	$1.3M	$1.5M	25x	as long as short
01 Exchange VVVUSD	+0.0072%	1h	30.584	−6.813%	$11K	$3K	3x	as long as short
Lighter VVV	+0.0096%	1h	30.581	−6.821%	$2.0M	$5.2M	5x	as long as short
Lighter RH VVV	+0.0096%	1h	30.590	−6.795%	$446K	$1.6M	5x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Paradex VVV-USD-PERP	+0.0100%	8h	30.573	−6.845%	$3K	$73	5x	as long as short
Nado VVV-PERP	+0.0100%	1h	30.593	−6.787%	$133K	$870K	3x	as long as short
Hyperliquid VVV	+0.0100%	1h	30.599	−6.767%	$69.0M	$48.7M	3x	as long as short
Aster VVVUSDT	+0.0100%	4h	30.592	−6.790%	$243K	$1.1M	10x	as long as short
Pacifica VVV	+0.0100%	1h	30.595	−6.778%	$181K	$131K	10x	as long as short
Binance VVVUSDT	+0.0100%	4h	30.586	−6.806%	$32.9M	$125.2M	25x	as long as short
Bybit VVVUSDT	+0.0100%	4h	30.569	−6.859%	$38.0M	$42.5M	20x	as long as short
OKX VVV-USDT-SWAP	+0.0100%	4h	30.589	−6.798%	$4.8M	$31.1M	20x	as long as short
Gate VVV_USDT	+0.0100%	4h	30.575	−6.840%	$10.5M	$5.8M	25x	as long as short
MEXC VVV_USDT	+0.0100%	4h	30.588	−6.801%	$6.3M	$5.8M	50x	as long as short
KuCoin VVVUSDTM	+0.0100%	4h	30.591	−6.792%	$1.9M	$2.8M	20x	as long as short
Bitget VVVUSDT	+0.0100%	4h	30.558	−6.892%	$5.7M	$7.3M	20x	as long as short
BingX VVV-USDT	+0.0100%	4h	30.593	−6.785%	—	$5.0M	—	as long as short
Variational Omni VVV	+0.0100%	4h	30.636	−6.653%	$1.9M	$350K	—	as long as short
Derive VVV-PERP	+0.0100%	1h	30.568	−6.860%	$3K	$3K	5x	as long as short
Phemex VVVUSDTshort	+0.0100%	4h	30.583	−6.816%	$2.0M	$2.1M	50x
Extended VVV-USD	+0.0104%	1h	30.587	−6.802%	$293K	$2.0M	5x	as long as short
Aevo VVV-PERP	+0.0104%	1h	30.576	−6.838%	$6K	—	3x	as long as short
edgeX VVVUSDC	+0.0110%	4h	30.684	−6.508%	$76K	$332K	10x	as long as short
Phoenix VVV	+0.0129%	1h	30.602	−6.758%	$32K	$257K	5x	as long as short
Kalshi KXVVVPERP	+0.0281%	8h	30.597	−6.773%	$97K	$5.5M	1.7x	as long as short
Backpack VVV_USDC_PERP	+0.0298%	1h	30.573	−6.846%	$119K	$243K	5x	as long as short
GMX VVV/USD [ETH-USDC]	L +0.0426% / S −0.0176%	1h	30.570	−6.856%	$534K	—	100x	as long as short