Funding arb · Price arb /

VVV

all VVV markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Bitget against Phemex−0.050%7-day average −0.077% · you buy dearer than you sell

Net, funding: paid 7d − costs−$148as in the Funding arb table

Net, price: spread back to 7d avg − costs−$145as in the Price arb table

costs, in and out, $10k−$1481.477% of the position

Long on Phemex Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days0.000%$0 on $10k

Price spread, last 3 days (all we have)+0.038%+$4 · spread now −0.050%, 7d avg −0.077%

Together, before fees+0.038%+$4 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: Bitget is 0.028% dearer against Phemex than usual: you sell high and buy low, +$3 on $10k if it goes back to its 7-day average of −0.077%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex VVVUSDT	32.130	0.0100	pay 0.0050% / 4h	28m 44s	$2.1M	$2.1M	50x
Short	Bitget VVVUSDT	32.114	0.0100	get 0.0050% / 4h	28m 44s	$5.8M	$8.9M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against Phemex. 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 PhemexbpFee BitgetbpOrdersPrice spread, now −0.050%Rate

Funding earned: $0
Price spread: −0.050% → −0.077%: $2.76
Slippage, 4 orders: −$123.75
Fee Phemex: 6 bp × 2 orders: −$12
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$144.99
Costs to cover: 1.477%
Break-even: never at this rate

Slippage from Phemex: live order book, 5 min ago; Bitget: live order book, 5 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 Phemex live order book, 5 min ago	0.93 bp	40.1 bp −$40	doesn't fit	doesn't fit	doesn't fit
Sell Bitget live order book, 5 min ago	2.80 bp	14.4 bp −$14	41.4 bp −$414	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	−0.0102%	1h	32.103	−0.083%	$91K	$23K	10x	as long as short
Kalshi KXVVVPERP	0.0000%	8h	32.146	+0.050%	$110K	$6.9M	1.7x	as long as short
gTrade (Gains Network) VVV/USD	L +0.0004% / S −0.0004%	1h	32.119	−0.034%	$19K	—	150x	as long as short
Injective VVV/USDC PERP	+0.0033%	1h	32.820	+2.148%	$2K	$1K	5.5x	as long as short
RISEx VVV/USDC	+0.0040%	1h	32.110	−0.064%	$395K	$604K	5x	as long as short
Polymarket Perps VVV-USD	+0.0043%	1h	32.092	−0.118%	$146K	$1.2M	3x	as long as short
01 Exchange VVVUSD	+0.0056%	1h	32.110	−0.062%	$11K	$3K	3x	as long as short
BloFin VVV-USDT	+0.0064%	4h	32.116	−0.044%	$1.3M	$1.8M	25x	as long as short
Lighter VVV	+0.0096%	1h	32.130	0.000%	$2.3M	$5.5M	5x	as long as short
Lighter RH VVV	+0.0096%	1h	32.101	−0.090%	$478K	$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
Nado VVV-PERP	+0.0100%	1h	32.118	−0.037%	$126K	$850K	3x	as long as short
Hyperliquid VVV	+0.0100%	1h	32.130	0.000%	$74.4M	$55.8M	3x	as long as short
Aster VVVUSDT	+0.0100%	4h	32.131	+0.003%	$264K	$1.9M	10x	as long as short
Pacifica VVV	+0.0100%	1h	32.142	+0.037%	$192K	$191K	10x	as long as short
Binance VVVUSDT	+0.0100%	4h	32.114	−0.051%	$33.6M	$156.7M	25x	as long as short
Bybit VVVUSDT	+0.0100%	4h	32.113	−0.054%	$39.4M	$52.3M	20x	as long as short
OKX VVV-USDT-SWAP	+0.0100%	4h	32.118	−0.037%	$4.7M	$42.5M	20x	as long as short
Gate VVV_USDT	+0.0100%	4h	32.116	−0.044%	$10.8M	$7.5M	25x	as long as short
MEXC VVV_USDT	+0.0100%	4h	32.132	+0.006%	$6.4M	$7.0M	50x	as long as short
KuCoin VVVUSDTM	+0.0100%	4h	32.128	−0.006%	$2.0M	$2.8M	20x	as long as short
Bitget VVVUSDTshort	+0.0100%	4h	32.114	−0.050%	$5.8M	$8.9M	20x
BingX VVV-USDT	+0.0100%	4h	32.130	0.000%	—	$5.5M	—	as long as short
Variational Omni VVV	+0.0100%	4h	32.089	−0.128%	$2.1M	$183K	—	as long as short
Derive VVV-PERP	+0.0100%	1h	32.122	−0.026%	$1K	$1K	5x	as long as short
Phemex VVVUSDTlong	+0.0100%	4h	32.130	long leg	$2.1M	$2.1M	50x
Paradex VVV-USD-PERP	+0.0100%	8h	32.122	−0.024%	$3K	$106	5x	as long as short
Extended VVV-USD	+0.0104%	1h	32.115	−0.047%	$323K	$1.6M	5x	as long as short
Aevo VVV-PERP	+0.0104%	1h	32.107	−0.071%	$6K	$13K	3x	as long as short
edgeX VVVUSDC	+0.0116%	4h	32.194	+0.198%	$80K	$334K	10x	as long as short
Phoenix VVV	+0.0124%	1h	32.130	0.000%	$56K	$299K	5x	as long as short
Backpack VVV_USDC_PERP	+0.0141%	1h	32.145	+0.047%	$122K	$358K	5x	as long as short
GMX VVV/USD [ETH-USDC]	L +0.0181% / S +0.0172%	1h	32.114	−0.049%	$618K	—	100x	as long as short
Coinbase International VVV-PERP-INTX	+0.0192%	1h	32.278	+0.460%	$242K	$1.3M	25x	as long as short