Funding arb · Price arb /

VVV

all VVV markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Bybit against Phemex−0.140%7-day average −0.079% · you buy dearer than you sell

Net, funding: paid 7d − costs−$115as in the Funding arb table

Net, price: spread back to 7d avg − costs−$115as in the Price arb table

costs, in and out, $10k−$1091.092% of the position

Long on Phemex Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.063%−$6 on $10k

Price spread, last 4 days (all we have)−0.216%−$22 · spread now −0.140%, 7d avg −0.079%

Together, before fees−0.279%−$28 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: Bybit is 0.061% cheaper against Phemex than usual: you would sell low and buy high, −$6 on $10k if it goes back to its 7-day average of −0.079%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex VVVUSDT	31.501	0.0100	pay 0.0050% / 4h	2h 21m	$2.0M	$2.1M	50x
Short	Bybit VVVUSDT	31.457	0.0100	get 0.0050% / 4h	2h 21m	$38.2M	$37.5M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now −0.140%Rate

Funding earned: $0
Price spread: −0.140% → −0.079%: −$6.13
Slippage, 4 orders: −$86.2
Fee Phemex: 6 bp × 2 orders: −$12
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$115.33
Costs to cover: 1.092%
Break-even: never at this rate

Slippage from Phemex: live order book, 5 min ago; Bybit: 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	2.54 bp	34.8 bp −$35	doesn't fit	doesn't fit	doesn't fit
Sell Bybit live order book, 5 min ago	1.91 bp	19.6 bp −$20	51.5 bp −$515	doesn't fit	doesn't fit

VVV on 32 exchanges

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
RISEx VVV/USDC	−0.0166%	1h	31.451	−0.160%	$385K	$702K	5x	as long as short
Gate VVV_USDT	−0.0088%	4h	31.464	−0.117%	$12.2M	$4.6M	25x	as long as short
Kalshi KXVVVPERP	0.0000%	8h	31.493	−0.025%	$132K	$5.4M	1.7x	as long as short
Deribit VVV_USDC-PERPETUAL	0.0000%	1h	31.494	−0.022%	$87K	$19K	10x	as long as short
gTrade (Gains Network) VVV/USD	L +0.0004% / S −0.0004%	1h	31.479	−0.070%	$19K	—	150x	as long as short
Injective VVV/USDC PERP	+0.0033%	1h	32.820	+4.187%	$2K	$1K	5.5x	as long as short
Coinbase International VVV-PERP-INTX	+0.0040%	1h	31.549	+0.152%	$192K	$1.3M	25x	as long as short
BloFin VVV-USDT	+0.0073%	4h	31.489	−0.038%	$1.3M	$1.4M	25x	as long as short
Lighter VVV	+0.0096%	1h	31.498	−0.009%	$1.9M	$4.1M	5x	as long as short
Lighter RH VVV	+0.0096%	1h	31.509	+0.025%	$494K	$1.6M	5x	as long as short

Show all 32 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Paradex VVV-USD-PERP	+0.0100%	8h	31.459	−0.133%	$3K	$50	5x	as long as short
Nado VVV-PERP	+0.0100%	1h	31.469	−0.100%	$188K	$974K	3x	as long as short
Aster VVVUSDT	+0.0100%	4h	31.491	−0.031%	$247K	$476K	10x	as long as short
Pacifica VVV	+0.0100%	1h	31.489	−0.039%	$186K	$116K	10x	as long as short
Binance VVVUSDT	+0.0100%	4h	31.482	−0.061%	$33.2M	$99.6M	25x	as long as short
Bybit VVVUSDTshort	+0.0100%	4h	31.457	−0.140%	$38.2M	$37.5M	20x
OKX VVV-USDT-SWAP	+0.0100%	4h	31.465	−0.114%	$4.7M	$23.8M	20x	as long as short
MEXC VVV_USDT	+0.0100%	4h	31.494	−0.022%	$7.4M	$4.4M	50x	as long as short
KuCoin VVVUSDTM	+0.0100%	4h	31.509	+0.025%	$1.7M	$2.6M	20x	as long as short
Bitget VVVUSDT	+0.0100%	4h	31.455	−0.146%	$5.7M	$5.8M	20x	as long as short
BingX VVV-USDT	+0.0100%	4h	31.482	−0.060%	—	$4.1M	—	as long as short
Variational Omni VVV	+0.0100%	4h	31.476	−0.081%	$2.0M	$335K	—	as long as short
Polymarket Perps VVV-USD	+0.0100%	1h	31.468	−0.105%	$129K	$1.3M	3x	as long as short
Phemex VVVUSDTlong	+0.0100%	4h	31.501	long leg	$2.0M	$2.1M	50x
Extended VVV-USD	+0.0104%	1h	31.459	−0.133%	$293K	$1.8M	5x	as long as short
Aevo VVV-PERP	+0.0104%	1h	31.486	−0.048%	$6K	—	3x	as long as short
edgeX VVVUSDC	+0.0107%	4h	31.508	+0.023%	$78K	$322K	10x	as long as short
Phoenix VVV	+0.0279%	1h	31.493	−0.025%	$33K	$188K	5x	as long as short
01 Exchange VVVUSD	+0.0320%	1h	31.527	+0.083%	$11K	$2K	3x	as long as short
GMX VVV/USD [ETH-USDC]	L +0.0444% / S −0.0219%	1h	31.480	−0.067%	$506K	—	100x	as long as short
Backpack VVV_USDC_PERP	+0.0555%	1h	31.527	+0.083%	$167K	$255K	5x	as long as short
Hyperliquid VVV	+0.0612%	1h	31.531	+0.095%	$70.2M	$42.4M	3x	as long as short