Funding arb · Price arb /

VVV

all VVV markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0207%/8h= +22.7% APRpaid last 24h +0.035%

Price spread now: Phoenix against KuCoin+0.022%7-day average +0.072% · you sell dearer than you buy

Net, funding: paid 7d − costs−$79as in the Funding arb table

Net, price: spread back to 7d avg − costs−$118as in the Price arb table

costs, in and out, $10k−$1131.127% of the position

Long on KuCoin Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 7 days+0.335%+$34 on $10k

Price spread, last 4 days (all we have)+0.036%+$4 · spread now +0.022%, 7d avg +0.072%

Together, before fees+0.371%+$37 on $10k · with fees, hour by hour

Funding pays, the price is against you. Phoenix is 0.050% cheaper against KuCoin than usual: you would sell low and buy high (spread +0.022% now, against its 7-day average of +0.072%). If the spread goes back, that is −$5 on $10k: about 19 hours of funding at the current rate (+$6 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin VVVUSDTM	31.359	0.0100	pay 0.0050% / 4h	1h 33m	$1.8M	$2.8M	20x
Short	Phoenix VVV	31.366	0.0307	get 0.0038% / 1h	33m 27s	$33K	$232K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix against KuCoin. 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 KuCoinbpFee PhoenixbpOrdersPrice spread, now +0.022%Rate

Funding earned: $43.53
Price spread: +0.022% → +0.072%: −$4.97
Slippage, 4 orders: −$93.67
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: −$74.11
Costs to cover: 1.127%
Break-even: 18.9 days

Slippage from KuCoin: live order book, 4 min ago; Phoenix: live order book, 7 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 KuCoin live order book, 4 min ago	7.97 bp	36.0 bp −$36	642.9 bp −$6,429	doesn't fit	doesn't fit
Sell Phoenix live order book, 7 min ago	2.86 bp	19.8 bp −$20	57.5 bp −$575	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
Coinbase International VVV-PERP-INTX	−0.0088%	1h	31.311	−0.154%	$185K	$1.3M	25x	as long as short
RISEx VVV/USDC	−0.0085%	1h	31.454	+0.302%	$386K	$647K	5x	as long as short
01 Exchange VVVUSD	0.0000%	1h	31.469	+0.351%	$11K	$3K	3x	as long as short
Kalshi KXVVVPERP	0.0000%	8h	31.352	−0.022%	$86K	$5.6M	1.7x	as long as short
Deribit VVV_USDC-PERPETUAL	0.0000%	1h	31.357	−0.008%	$87K	$22K	10x	as long as short
gTrade (Gains Network) VVV/USD	L +0.0004% / S −0.0003%	1h	31.360	+0.003%	$22K	—	150x	as long as short
Injective VVV/USDC PERP	+0.0033%	1h	32.820	+4.659%	$2K	$1K	5.5x	as long as short
BloFin VVV-USDT	+0.0058%	4h	31.409	+0.159%	$1.4M	$1.5M	25x	as long as short
Lighter VVV	+0.0096%	1h	31.446	+0.279%	$2.0M	$4.5M	5x	as long as short
Lighter RH VVV	+0.0096%	1h	31.463	+0.332%	$463K	$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	31.472	+0.360%	$3K	$73	5x	as long as short
Nado VVV-PERP	+0.0100%	1h	31.456	+0.309%	$163K	$896K	3x	as long as short
Hyperliquid VVV	+0.0100%	1h	31.488	+0.412%	$70.8M	$47.7M	3x	as long as short
Aster VVVUSDT	+0.0100%	4h	31.452	+0.296%	$250K	$1.0M	10x	as long as short
Pacifica VVV	+0.0100%	1h	31.470	+0.354%	$186K	$128K	10x	as long as short
Binance VVVUSDT	+0.0100%	4h	31.465	+0.338%	$33.9M	$121.1M	25x	as long as short
Bybit VVVUSDT	+0.0100%	4h	31.456	+0.309%	$38.7M	$41.6M	20x	as long as short
OKX VVV-USDT-SWAP	+0.0100%	4h	31.447	+0.281%	$4.9M	$30.9M	20x	as long as short
Gate VVV_USDT	+0.0100%	4h	31.435	+0.242%	$11.2M	$5.4M	25x	as long as short
MEXC VVV_USDT	+0.0100%	4h	31.455	+0.306%	$6.8M	$5.6M	50x	as long as short
KuCoin VVVUSDTMlong	+0.0100%	4h	31.359	long leg	$1.8M	$2.8M	20x
Bitget VVVUSDT	+0.0100%	4h	31.435	+0.242%	$5.7M	$7.1M	20x	as long as short
BingX VVV-USDT	+0.0100%	4h	31.463	+0.332%	—	$4.9M	—	as long as short
Variational Omni VVV	+0.0100%	4h	31.363	+0.013%	$2.0M	$352K	—	as long as short
Polymarket Perps VVV-USD	+0.0100%	1h	31.463	+0.332%	$122K	$1.4M	3x	as long as short
Derive VVV-PERP	+0.0100%	1h	31.358	−0.004%	$3K	$3K	5x	as long as short
Phemex VVVUSDT	+0.0100%	4h	31.360	+0.003%	$2.0M	$2.1M	50x	as long as short
Extended VVV-USD	+0.0104%	1h	31.472	+0.360%	$301K	$2.0M	5x	as long as short
Aevo VVV-PERP	+0.0104%	1h	31.355	−0.013%	$6K	—	3x	as long as short
edgeX VVVUSDC	+0.0105%	4h	31.395	+0.113%	$78K	$332K	10x	as long as short
Phoenix VVVshort	+0.0307%	1h	31.366	+0.022%	$33K	$232K	5x
GMX VVV/USD [ETH-USDC]	L +0.0429% / S −0.0201%	1h	31.389	+0.097%	$502K	—	100x	as long as short
Backpack VVV_USDC_PERP	+0.0475%	1h	31.434	+0.240%	$154K	$266K	5x	as long as short