VVV

Alert: funding

Alert: spread

Funding you earn now, next payment 21:00 UTC−0.0019%/8h= −2.1% APRnext payment −$0.02 per $10,000 · paid last 24h −0.028%

Price spread now: Phoenix against Lighter+0.026%7-day average −0.046% · you sell dearer than you buy

Net, funding: paid 7d − costs−$77as in the Funding arb table

Net, price: spread back to 7d avg − costs−$68as in the Price arb table

costs, in and out, $10k−$750.753% of the position

Long on Lighter Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 7 days−0.013%−$1 on $10k

Price spread, last 3 days (all we have)−0.156%−$16 · spread now +0.026%, 7d avg −0.046%

Together, before fees−0.169%+ Points / potential airdropLighter: Season 3 · farm board−$17 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Phoenix is 0.073% dearer against Lighter than usual: you sell high and buy low (spread +0.026% now, against its 7-day average of −0.046%): +$7 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 13 days. At the pace of the last 7 days (−0.013% in total) that is about 40 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter VVV	31.501	0.0096	pay 0.0012% / 1h	33m 18s	$2.2M	$5.4M	5x
Short	Phoenix VVV	31.509	0.0077	get 0.0010% / 1h	33m 18s	$55K	$292K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix against Lighter. 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 LighterbpFee PhoenixbpOrdersPrice spread, now +0.026%Rate

Funding earned: −$3.98
Price spread: +0.026% → −0.046%: $7.27
Slippage, 4 orders: −$68.3
Fee Lighter: 0 bp × 2 orders: $0
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: −$72.02
Costs to cover: 0.753%
Break-even: never at this rate

Slippage from Lighter: live order book, 5 min ago; Phoenix: live order book, 51 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 Lighter live order book, 5 min ago	4.22 bp	8.0 bp −$8	37.1 bp −$371	doesn't fit	doesn't fit
Sell Phoenix live order book, 51 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	−0.0121%	1h	31.506	+0.018%	$90K	$22K	10x	as long as short
01 Exchange VVVUSD	−0.0008%	1h	31.506	+0.017%	$11K	$3K	3x	as long as short
Kalshi KXVVVPERP	0.0000%	8h	31.532	+0.099%	$117K	$6.8M	1.7x	as long as short
gTrade (Gains Network) VVV/USD	L +0.0004% / S −0.0004%	1h	31.507	+0.021%	$19K	—	150x	as long as short
Injective VVV/USDC PERP	+0.0033%	1h	32.820	+4.188%	$2K	$1K	5.5x	as long as short
Polymarket Perps VVV-USD	+0.0041%	1h	31.486	−0.047%	$135K	$1.2M	3x	as long as short
BloFin VVV-USDT	+0.0046%	4h	31.458	−0.136%	$1.3M	$1.7M	25x	as long as short
Phoenix VVVshort	+0.0077%	1h	31.509	+0.026%	$55K	$292K	5x
RISEx VVV/USDC	+0.0078%	1h	31.493	−0.023%	$386K	$571K	5x	as long as short
Lighter VVVlong	+0.0096%	1h	31.501	long leg	$2.2M	$5.4M	5x

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter RH VVV	+0.0096%	1h	31.484	−0.053%	$467K	$1.6M	5x	as long as short
Nado VVV-PERP	+0.0100%	1h	31.495	−0.017%	$145K	$781K	3x	as long as short
Hyperliquid VVV	+0.0100%	1h	31.535	+0.109%	$71.9M	$54.1M	3x	as long as short
Aster VVVUSDT	+0.0100%	4h	31.515	+0.045%	$276K	$1.8M	10x	as long as short
Pacifica VVV	+0.0100%	1h	31.508	+0.025%	$187K	$176K	10x	as long as short
Binance VVVUSDT	+0.0100%	4h	31.501	+0.002%	$33.3M	$154.3M	25x	as long as short
Bybit VVVUSDT	+0.0100%	4h	31.505	+0.013%	$38.8M	$51.7M	20x	as long as short
OKX VVV-USDT-SWAP	+0.0100%	4h	31.525	+0.077%	$4.7M	$41.1M	20x	as long as short
Gate VVV_USDT	+0.0100%	4h	31.499	−0.005%	$10.7M	$7.7M	25x	as long as short
MEXC VVV_USDT	+0.0100%	4h	31.510	+0.030%	$16.9M	$6.9M	50x	as long as short
KuCoin VVVUSDTM	+0.0100%	4h	31.493	−0.024%	$2.3M	$2.6M	20x	as long as short
Bitget VVVUSDT	+0.0100%	4h	31.496	−0.015%	$5.7M	$8.6M	20x	as long as short
BingX VVV-USDT	+0.0100%	4h	31.509	+0.026%	—	$5.4M	—	as long as short
Variational Omni VVV	+0.0100%	4h	31.438	−0.198%	$2.1M	$184K	—	as long as short
Derive VVV-PERP	+0.0100%	1h	31.508	+0.025%	$1K	$1K	5x	as long as short
Phemex VVVUSDT	+0.0100%	4h	31.481	−0.063%	$2.1M	$2.0M	50x	as long as short
Paradex VVV-USD-PERP	+0.0100%	8h	31.501	+0.002%	$3K	$106	5x	as long as short
edgeX VVVUSDC	+0.0101%	4h	31.493	−0.026%	$78K	$331K	10x	as long as short
Extended VVV-USD	+0.0104%	1h	31.509	+0.026%	$314K	$1.6M	5x	as long as short
Aevo VVV-PERP	+0.0104%	1h	31.503	+0.007%	$6K	$13K	3x	as long as short
Backpack VVV_USDC_PERP	+0.0207%	1h	31.525	+0.076%	$119K	$379K	5x	as long as short
Coinbase International VVV-PERP-INTX	+0.0232%	1h	31.550	+0.157%	$190K	$1.2M	25x	as long as short
GMX VVV/USD [ETH-USDC]	L +0.0443% / S −0.0195%	1h	31.504	+0.011%	$538K	—	100x	as long as short