Funding arb · Price arb /

VVV

all VVV markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0002%/8h= −0.2% APRpaid last 24h +0.050%

Price spread now: Phoenix against OKX+1.116%96s7-day average +0.043% · you sell dearer than you buy

Net, funding: paid 7d − costs−$33as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$700.699% of the position

Long on OKX Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 7 days+0.368%+$37 on $10k

Price spread, last 3 days (all we have)−1.144%−$114 · spread now +1.116%, 7d avg +0.043%

Together, before fees−0.776%−$78 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Phoenix is 1.072% dearer against OKX than usual: you sell high and buy low, +$107 on $10k if it goes back to its 7-day average of +0.043%. The two prices were read 96 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	OKX VVV-USDT-SWAP	32.446	0.0100	pay 0.0050% / 4h	1h 37m	$4.8M	$42.8M	20x
Short	Phoenix VVV	32.808	0.0098	get 0.0012% / 1h	37m 49s	$57K	$294K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix against OKX. 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 OKXbpFee PhoenixbpOrdersPrice spread, now +1.116%Rate

Funding earned: −$0.32
Price spread: +1.116% → +0.043%: $107.23
Slippage, 4 orders: −$52.87
Fee OKX: 5 bp × 2 orders: −$10
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: $37.03
Costs to cover: 0.699%
Break-even: from the start

Slippage from OKX: live order book, 1 min ago; Phoenix: live order book, 43 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 OKX live order book, 1 min ago	1.07 bp	16.3 bp −$16	75.0 bp −$750	doesn't fit	doesn't fit
Sell Phoenix live order book, 43 min ago	3.12 bp	19.7 bp −$20	57.4 bp −$574	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	−0.0035%	1h	32.654	+0.641%	$92K	$23K	10x	as long as short
gTrade (Gains Network) VVV/USD	L +0.0004% / S −0.0004%	1h	32.678	+0.715%	$19K	—	150x	as long as short
Injective VVV/USDC PERP	+0.0033%	1h	32.820	+1.153%	$2K	$1K	5.5x	as long as short
Lighter VVV	+0.0096%	1h	32.571	+0.386%	$2.3M	$5.5M	5x	as long as short
Lighter RH VVV	+0.0096%	1h	32.548	+0.314%	$487K	$1.6M	5x	as long as short
Phoenix VVVshort	+0.0098%	1h	32.808	+1.116%	$57K	$294K	5x
Nado VVV-PERP	+0.0100%	1h	32.676	+0.710%	$151K	$783K	3x	as long as short
Aster VVVUSDT	+0.0100%	4h	32.606	+0.494%	$273K	$1.9M	10x	as long as short
Pacifica VVV	+0.0100%	1h	32.691	+0.754%	$188K	$183K	10x	as long as short
Binance VVVUSDT	+0.0100%	4h	32.515	+0.213%	$34.1M	$156.2M	25x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit VVVUSDT	+0.0100%	4h	32.451	+0.015%	$40.0M	$52.4M	20x	as long as short
OKX VVV-USDT-SWAPlong	+0.0100%	4h	32.446	long leg	$4.8M	$42.8M	20x
Gate VVV_USDT	+0.0100%	4h	32.525	+0.243%	$11.0M	$7.7M	25x	as long as short
MEXC VVV_USDT	+0.0100%	4h	32.553	+0.330%	$6.4M	$7.0M	50x	as long as short
KuCoin VVVUSDTM	+0.0100%	4h	32.578	+0.407%	$2.0M	$2.8M	20x	as long as short
Bitget VVVUSDT	+0.0100%	4h	32.442	−0.012%	$5.9M	$8.8M	20x	as long as short
BingX VVV-USDT	+0.0100%	4h	32.505	+0.182%	—	$5.5M	—	as long as short
Variational Omni VVV	+0.0100%	4h	32.678	+0.714%	$2.2M	$180K	—	as long as short
Polymarket Perps VVV-USD	+0.0100%	1h	32.664	+0.672%	$131K	$1.2M	3x	as long as short
Derive VVV-PERP	+0.0100%	1h	32.659	+0.656%	$1K	$1K	5x	as long as short
Phemex VVVUSDT	+0.0100%	4h	32.612	+0.512%	$2.1M	$2.0M	50x	as long as short
Paradex VVV-USD-PERP	+0.0100%	8h	32.692	+0.758%	$3K	$106	5x	as long as short
Kalshi KXVVVPERP	+0.0100%	8h	32.676	+0.709%	$108K	$6.8M	1.7x	as long as short
edgeX VVVUSDC	+0.0104%	4h	32.718	+0.839%	$81K	$331K	10x	as long as short
Extended VVV-USD	+0.0104%	1h	32.535	+0.276%	$322K	$1.6M	5x	as long as short
Aevo VVV-PERP	+0.0104%	1h	32.661	+0.664%	$7K	$13K	3x	as long as short
BloFin VVV-USDT	+0.0136%	4h	32.670	+0.690%	$1.4M	$1.8M	25x	as long as short
Coinbase International VVV-PERP-INTX	+0.0144%	1h	32.598	+0.469%	$198K	$1.1M	25x	as long as short
RISEx VVV/USDC	+0.0175%	1h	32.672	+0.696%	$401K	$595K	5x	as long as short
GMX VVV/USD [ETH-USDC]	L +0.0189% / S +0.0165%	1h	32.662	+0.665%	$628K	—	100x	as long as short
Backpack VVV_USDC_PERP	+0.0295%	1h	32.571	+0.386%	$125K	$374K	5x	as long as short
01 Exchange VVVUSD	+0.0496%	1h	32.700	+0.783%	$12K	$3K	3x	as long as short
Hyperliquid VVV	+0.0680%	1h	32.524	+0.240%	$76.0M	$55.5M	3x	as long as short