Funding arb · Price arb /

VVV

all VVV markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h +0.026%

Price spread now: Phoenix against MEXC−0.229%7-day average −0.005% · you buy dearer than you sell

Net, funding: paid 7d − costs−$20as in the Funding arb table

Net, price: spread back to 7d avg − costs−$72as in the Price arb table

costs, in and out, $10k−$500.499% of the position

Long on MEXC Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 7 days+0.301%+$30 on $10k

Price spread, last 3 days (all we have)+0.169%+$17 · spread now −0.229%, 7d avg −0.005%

Together, before fees+0.470%+$47 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and Phoenix is 0.224% cheaper against MEXC than usual: you would sell low and buy high (−$22 if the spread goes back to its 7-day average of −0.005%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.301%, 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	MEXC VVV_USDT	31.940	0.0100	pay 0.0050% / 4h	3h 12m	$6.5M	$7.0M	50x
Short	Phoenix VVV	31.867	0	get 0.0000% / 1h	12m 49s	$56K	$298K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix against MEXC. 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 MEXCbpFee PhoenixbpOrdersPrice spread, now −0.229%Rate

Funding earned: −$21
Price spread: −0.229% → −0.005%: −$22.39
Slippage, 4 orders: −$42.86
Fee MEXC: 0 bp × 2 orders: $0
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: −$93.25
Costs to cover: 0.499%
Break-even: never at this rate

Slippage from MEXC: live order book, 5 min ago; Phoenix: live order book, 58 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 MEXC live order book, 5 min ago	1.10 bp	4.3 bp −$4	54.9 bp −$549	235.5 bp −$23.5K	doesn't fit
Sell Phoenix live order book, 58 min ago	3.13 bp	19.8 bp −$20	57.3 bp −$573	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
Polymarket Perps VVV-USD	−0.0247%	1h	31.811	−0.404%	$145K	$1.2M	3x	as long as short
Gate VVV_USDT	−0.0132%	4h	31.900	−0.125%	$10.7M	$7.4M	25x	as long as short
Bybit VVVUSDT	−0.0066%	4h	31.897	−0.135%	$39.0M	$51.6M	20x	as long as short
01 Exchange VVVUSD	−0.0016%	1h	31.818	−0.382%	$11K	$3K	3x	as long as short
RISEx VVV/USDC	−0.0015%	1h	31.829	−0.347%	$391K	$602K	5x	as long as short
Kalshi KXVVVPERP	0.0000%	8h	31.899	−0.128%	$111K	$6.5M	1.7x	as long as short
Phoenix VVVshort	0.0000%	1h	31.867	−0.229%	$56K	$298K	5x
Deribit VVV_USDC-PERPETUAL	0.0000%	1h	31.868	−0.226%	$89K	$24K	10x	as long as short
gTrade (Gains Network) VVV/USD	L +0.0004% / S −0.0004%	1h	31.849	−0.283%	$19K	—	150x	as long as short
Injective VVV/USDC PERP	+0.0033%	1h	32.820	+2.755%	$2K	$1K	5.5x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BloFin VVV-USDT	+0.0087%	4h	31.870	−0.219%	$1.3M	$1.8M	25x	as long as short
Lighter VVV	+0.0096%	1h	31.901	−0.122%	$2.2M	$5.9M	5x	as long as short
Lighter RH VVV	+0.0096%	1h	31.857	−0.260%	$471K	$1.6M	5x	as long as short
Nado VVV-PERP	+0.0100%	1h	31.831	−0.343%	$125K	$850K	3x	as long as short
Hyperliquid VVV	+0.0100%	1h	31.934	−0.019%	$74.2M	$55.1M	3x	as long as short
Aster VVVUSDT	+0.0100%	4h	31.915	−0.079%	$260K	$1.9M	10x	as long as short
Pacifica VVV	+0.0100%	1h	31.861	−0.248%	$190K	$183K	10x	as long as short
Binance VVVUSDT	+0.0100%	4h	31.927	−0.040%	$33.5M	$154.3M	25x	as long as short
OKX VVV-USDT-SWAP	+0.0100%	4h	31.911	−0.091%	$4.7M	$41.4M	20x	as long as short
MEXC VVV_USDTlong	+0.0100%	4h	31.940	long leg	$6.5M	$7.0M	50x
KuCoin VVVUSDTM	+0.0100%	4h	31.932	−0.025%	$2.0M	$2.8M	20x	as long as short
Bitget VVVUSDT	+0.0100%	4h	31.910	−0.094%	$5.8M	$8.9M	20x	as long as short
BingX VVV-USDT	+0.0100%	4h	31.912	−0.088%	—	$5.4M	—	as long as short
Backpack VVV_USDC_PERP	+0.0100%	1h	31.917	−0.071%	$123K	$333K	5x	as long as short
Variational Omni VVV	+0.0100%	4h	31.900	−0.127%	$2.1M	$190K	—	as long as short
Derive VVV-PERP	+0.0100%	1h	31.865	−0.234%	$3K	$2K	5x	as long as short
Phemex VVVUSDT	+0.0100%	4h	31.902	−0.119%	$2.1M	$2.1M	50x	as long as short
Paradex VVV-USD-PERP	+0.0100%	8h	31.821	−0.371%	$3K	$106	5x	as long as short
edgeX VVVUSDC	+0.0102%	4h	31.936	−0.011%	$79K	$336K	10x	as long as short
Extended VVV-USD	+0.0104%	1h	31.904	−0.113%	$304K	$2.0M	5x	as long as short
Aevo VVV-PERP	+0.0104%	1h	31.875	−0.205%	$6K	—	3x	as long as short
GMX VVV/USD [ETH-USDC]	L +0.0178% / S +0.0121%	1h	31.838	−0.318%	$576K	—	100x	as long as short
Coinbase International VVV-PERP-INTX	+0.0320%	1h	31.801	−0.436%	$245K	$1.2M	25x	as long as short