Funding arb · Price arb /

VVV

all VVV markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h −0.011%

Price spread now: Deribit against Phemex+0.118%57s7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Phemex Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.099%−$10 on $10k

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

The price spread pays, funding is against you. Deribit is 0.118% dearer against Phemex than usual: you sell high and buy low (spread +0.118% now, against zero (this spread has no 7-day history yet)): +$12 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 3.9 days. At the pace of the last 7 days (−0.099% in total) that is about 8.1 days. The two prices were read 57 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	Phemex VVVUSDT	30.775	0.0100	pay 0.0050% / 4h	3h 57m	$2.0M	$2.1M	50x
Short	Deribit VVV_USDC-PERPETUAL	30.811	0	get 0.0000% / 1h	57m 20s	$86K	$24K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit 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 DeribitbpOrdersPrice spread, now +0.118%Rate

Funding earned: −$21
Price spread: +0.118% → 0.000%: $11.76
Slippage, 4 orders: no order book: not counted
Fee Phemex: 6 bp × 2 orders: −$12
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$28.24
Costs to cover: 0.190%
Break-even: never at this rate

Slippage unknown: Phemex: live order book, 1 min ago; Deribit: no order-book sample. Net counts fees only.

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	2.11 bp	39.9 bp −$40	doesn't fit	doesn't fit	doesn't fit
Sell Deribit no order-book sample	—	—	—	—	—

Deribit: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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
RISEx VVV/USDC	−0.0417%	1h	30.792	+0.054%	$378K	$639K	5x	as long as short
Polymarket Perps VVV-USD	−0.0152%	1h	30.812	+0.120%	$129K	$1.2M	3x	as long as short
Coinbase International VVV-PERP-INTX	−0.0088%	1h	30.832	+0.187%	$145K	$1.2M	25x	as long as short
Deribit VVV_USDC-PERPETUALshort	0.0000%	1h	30.811	+0.118%	$86K	$24K	10x
gTrade (Gains Network) VVV/USD	L +0.0004% / S −0.0002%	1h	30.822	+0.153%	$23K	—	150x	as long as short
Injective VVV/USDC PERP	+0.0033%	1h	32.820	+6.645%	$2K	$1K	5.5x	as long as short
01 Exchange VVVUSD	+0.0088%	1h	30.812	+0.120%	$11K	$3K	3x	as long as short
Lighter VVV	+0.0096%	1h	30.817	+0.136%	$2.1M	$5.1M	5x	as long as short
Lighter RH VVV	+0.0096%	1h	30.819	+0.143%	$451K	$1.6M	5x	as long as short
Paradex VVV-USD-PERP	+0.0100%	8h	30.805	+0.097%	$3K	$73	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	30.822	+0.151%	$142K	$873K	3x	as long as short
Hyperliquid VVV	+0.0100%	1h	30.841	+0.214%	$70.3M	$48.8M	3x	as long as short
Aster VVVUSDT	+0.0100%	4h	30.825	+0.163%	$246K	$1.1M	10x	as long as short
Pacifica VVV	+0.0100%	1h	30.845	+0.228%	$182K	$132K	10x	as long as short
Binance VVVUSDT	+0.0100%	4h	30.820	+0.147%	$33.0M	$127.9M	25x	as long as short
Bybit VVVUSDT	+0.0100%	4h	30.818	+0.140%	$38.3M	$42.8M	20x	as long as short
OKX VVV-USDT-SWAP	+0.0100%	4h	30.825	+0.162%	$4.8M	$32.4M	20x	as long as short
Gate VVV_USDT	+0.0100%	4h	30.815	+0.130%	$10.3M	$5.7M	25x	as long as short
MEXC VVV_USDT	+0.0100%	4h	30.835	+0.195%	$6.3M	$5.8M	50x	as long as short
KuCoin VVVUSDTM	+0.0100%	4h	30.812	+0.120%	$1.9M	$2.8M	20x	as long as short
Bitget VVVUSDT	+0.0100%	4h	30.821	+0.149%	$5.7M	$7.4M	20x	as long as short
BingX VVV-USDT	+0.0100%	4h	30.831	+0.182%	—	$5.0M	—	as long as short
Backpack VVV_USDC_PERP	+0.0100%	1h	30.834	+0.193%	$122K	$249K	5x	as long as short
Variational Omni VVV	+0.0100%	4h	30.997	+0.720%	$1.9M	$284K	—	as long as short
Derive VVV-PERP	+0.0100%	1h	30.808	+0.108%	$3K	$3K	5x	as long as short
Phemex VVVUSDTlong	+0.0100%	4h	30.775	long leg	$2.0M	$2.1M	50x
Extended VVV-USD	+0.0104%	1h	30.799	+0.079%	$294K	$1.9M	5x	as long as short
Aevo VVV-PERP	+0.0104%	1h	30.807	+0.105%	$6K	—	3x	as long as short
edgeX VVVUSDC	+0.0114%	4h	30.877	+0.332%	$77K	$332K	10x	as long as short
Kalshi KXVVVPERP	+0.0139%	8h	30.827	+0.169%	$106K	$5.6M	1.7x	as long as short
BloFin VVV-USDT	+0.0151%	4h	30.898	+0.400%	$1.3M	$1.6M	25x	as long as short
Phoenix VVV	+0.0182%	1h	30.844	+0.224%	$32K	$257K	5x	as long as short
GMX VVV/USD [ETH-USDC]	L +0.0427% / S −0.0174%	1h	30.819	+0.142%	$540K	—	100x	as long as short