Funding arb · Price arb /

VVV

all VVV markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0092%/8h= +10.1% APRpaid last 24h −0.011%

Price spread now: Coinbase International against Phemex+1.013%7-day average −0.021% · you sell dearer than you buy

Net, funding: paid 7d − costs−$138as in the Funding arb table

Net, price: spread back to 7d avg − costs−$44as in the Price arb table

costs, in and out, $10k−$1471.472% of the position

Long on Phemex Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+0.094%+$9 on $10k

Price spread, last 3 days (all we have)−1.601%−$160 · spread now +1.013%, 7d avg −0.021%

Together, before fees−1.507%−$151 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and Coinbase International is 1.034% dearer against Phemex than usual: you sell high and buy low: +$103 more if the spread goes back to its 7-day average of −0.021%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex VVVUSDT	31.954	0.0100	pay 0.0050% / 4h	2m 00s	$2.1M	$2.1M	50x
Short	Coinbase International VVV-PERP-INTX	32.278	0.0192	get 0.0024% / 1h	2m 00s	$242K	$1.3M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International 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 Coinbase InternationalbpOrdersPrice spread, now +1.013%Rate

Funding earned: $19.32
Price spread: +1.013% → −0.021%: $103.38
Slippage, 4 orders: −$125.23
Fee Phemex: 6 bp × 2 orders: −$12
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$24.53
Costs to cover: 1.472%
Break-even: 15.9 days

Slippage from Phemex: live order book, 1 min ago; Coinbase International: live order book, 1 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, 1 min ago	1.72 bp	53.6 bp −$54	doesn't fit	doesn't fit	doesn't fit
Sell Coinbase International live order book, 1 min ago	17.27 bp	22.3 bp −$22	22.3 bp −$223	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	−0.0039%	1h	31.930	−0.075%	$146K	$1.2M	3x	as long as short
01 Exchange VVVUSD	0.0000%	1h	31.945	−0.028%	$11K	$3K	3x	as long as short
Kalshi KXVVVPERP	0.0000%	8h	31.969	+0.047%	$107K	$6.8M	1.7x	as long as short
Deribit VVV_USDC-PERPETUAL	0.0000%	1h	31.951	−0.010%	$90K	$23K	10x	as long as short
gTrade (Gains Network) VVV/USD	L +0.0004% / S −0.0004%	1h	31.950	−0.014%	$19K	—	150x	as long as short
Injective VVV/USDC PERP	+0.0033%	1h	32.820	+2.710%	$2K	$1K	5.5x	as long as short
RISEx VVV/USDC	+0.0040%	1h	31.945	−0.029%	$393K	$602K	5x	as long as short
Lighter VVV	+0.0096%	1h	31.950	−0.011%	$2.2M	$6.1M	5x	as long as short
Lighter RH VVV	+0.0096%	1h	31.957	+0.009%	$476K	$1.6M	5x	as long as short
Nado VVV-PERP	+0.0100%	1h	31.950	−0.011%	$126K	$850K	3x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid VVV	+0.0100%	1h	31.986	+0.100%	$74.2M	$55.3M	3x	as long as short
Aster VVVUSDT	+0.0100%	4h	31.952	−0.007%	$261K	$1.9M	10x	as long as short
Pacifica VVV	+0.0100%	1h	31.966	+0.038%	$191K	$191K	10x	as long as short
Binance VVVUSDT	+0.0100%	4h	31.967	+0.041%	$33.5M	$155.9M	25x	as long as short
Bybit VVVUSDT	+0.0100%	4h	31.953	−0.003%	$39.2M	$51.8M	20x	as long as short
OKX VVV-USDT-SWAP	+0.0100%	4h	31.964	+0.031%	$4.7M	$42.0M	20x	as long as short
Gate VVV_USDT	+0.0100%	4h	31.960	+0.019%	$10.7M	$7.6M	25x	as long as short
MEXC VVV_USDT	+0.0100%	4h	31.969	+0.047%	$6.4M	$7.1M	50x	as long as short
KuCoin VVVUSDTM	+0.0100%	4h	31.950	−0.013%	$2.0M	$2.8M	20x	as long as short
Bitget VVVUSDT	+0.0100%	4h	31.954	0.000%	$5.8M	$8.9M	20x	as long as short
BingX VVV-USDT	+0.0100%	4h	31.971	+0.053%	—	$5.5M	—	as long as short
Variational Omni VVV	+0.0100%	4h	31.870	−0.264%	$2.1M	$183K	—	as long as short
Derive VVV-PERP	+0.0100%	1h	31.951	−0.009%	$2K	$2K	5x	as long as short
Phemex VVVUSDTlong	+0.0100%	4h	31.954	long leg	$2.1M	$2.1M	50x
Paradex VVV-USD-PERP	+0.0100%	8h	31.943	−0.034%	$3K	$106	5x	as long as short
Extended VVV-USD	+0.0104%	1h	31.959	+0.017%	$303K	$1.6M	5x	as long as short
Aevo VVV-PERP	+0.0104%	1h	31.940	−0.044%	$6K	$13K	3x	as long as short
BloFin VVV-USDT	+0.0105%	4h	31.971	+0.053%	$1.3M	$1.8M	25x	as long as short
edgeX VVVUSDC	+0.0120%	4h	31.932	−0.070%	$79K	$334K	10x	as long as short
Phoenix VVV	+0.0124%	1h	31.948	−0.019%	$56K	$299K	5x	as long as short
Backpack VVV_USDC_PERP	+0.0126%	1h	31.992	+0.119%	$124K	$348K	5x	as long as short
GMX VVV/USD [ETH-USDC]	L +0.0179% / S +0.0120%	1h	31.953	−0.002%	$578K	—	100x	as long as short
Coinbase International VVV-PERP-INTXshort	+0.0192%	1h	32.278	+1.013%	$242K	$1.3M	25x