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 −0.022%

Price spread now: Gate against Phemex+0.075%49s7-day average −0.097% · you sell dearer than you buy

Net, funding: paid 7d − costs−$151as 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−$1411.411% of the position

Long on Phemex Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−0.101%−$10 on $10k

Price spread, last 3 days (all we have)−0.106%−$11 · spread now +0.075%, 7d avg −0.097%

Together, before fees−0.207%−$21 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: Gate is 0.171% dearer against Phemex than usual: you sell high and buy low, +$17 on $10k if it goes back to its 7-day average of −0.097%. The two prices were read 49 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	32.119	0.0100	pay 0.0050% / 4h	27m 26s	$2.1M	$2.1M	50x
Short	Gate VVV_USDT	32.143	0.0100	get 0.0050% / 4h	27m 26s	$10.8M	$7.5M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now +0.075%Rate

Funding earned: $0
Price spread: +0.075% → −0.097%: $17.13
Slippage, 4 orders: −$114.08
Fee Phemex: 6 bp × 2 orders: −$12
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$123.96
Costs to cover: 1.411%
Break-even: never at this rate

Slippage from Phemex: live order book, 1 min ago; Gate: 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	1.87 bp	39.8 bp −$40	doesn't fit	doesn't fit	doesn't fit
Sell Gate live order book, 1 min ago	5.61 bp	25.0 bp −$25	124.5 bp −$1,245	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
Kalshi KXVVVPERP	0.0000%	8h	32.136	+0.053%	$110K	$6.9M	1.7x	as long as short
Deribit VVV_USDC-PERPETUAL	0.0000%	1h	32.147	+0.087%	$91K	$23K	10x	as long as short
gTrade (Gains Network) VVV/USD	L +0.0004% / S −0.0004%	1h	32.160	+0.129%	$19K	—	150x	as long as short
Injective VVV/USDC PERP	+0.0033%	1h	32.820	+2.183%	$2K	$1K	5.5x	as long as short
RISEx VVV/USDC	+0.0040%	1h	32.096	−0.072%	$395K	$604K	5x	as long as short
Polymarket Perps VVV-USD	+0.0044%	1h	32.132	+0.040%	$146K	$1.2M	3x	as long as short
01 Exchange VVVUSD	+0.0056%	1h	32.102	−0.053%	$11K	$3K	3x	as long as short
BloFin VVV-USDT	+0.0064%	4h	32.116	−0.009%	$1.3M	$1.8M	25x	as long as short
Lighter VVV	+0.0096%	1h	32.127	+0.024%	$2.3M	$5.5M	5x	as long as short
Lighter RH VVV	+0.0096%	1h	32.069	−0.156%	$477K	$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	32.132	+0.042%	$127K	$850K	3x	as long as short
Hyperliquid VVV	+0.0100%	1h	32.186	+0.209%	$74.5M	$55.8M	3x	as long as short
Aster VVVUSDT	+0.0100%	4h	32.152	+0.104%	$264K	$1.9M	10x	as long as short
Pacifica VVV	+0.0100%	1h	32.117	−0.007%	$192K	$191K	10x	as long as short
Binance VVVUSDT	+0.0100%	4h	32.159	+0.123%	$33.7M	$156.6M	25x	as long as short
Bybit VVVUSDT	+0.0100%	4h	32.152	+0.101%	$39.5M	$52.3M	20x	as long as short
OKX VVV-USDT-SWAP	+0.0100%	4h	32.142	+0.072%	$4.7M	$42.5M	20x	as long as short
Gate VVV_USDTshort	+0.0100%	4h	32.143	+0.075%	$10.8M	$7.5M	25x
MEXC VVV_USDT	+0.0100%	4h	32.161	+0.131%	$6.4M	$7.0M	50x	as long as short
KuCoin VVVUSDTM	+0.0100%	4h	32.152	+0.103%	$2.0M	$2.8M	20x	as long as short
Bitget VVVUSDT	+0.0100%	4h	32.140	+0.065%	$5.8M	$8.9M	20x	as long as short
BingX VVV-USDT	+0.0100%	4h	32.154	+0.109%	—	$5.5M	—	as long as short
Variational Omni VVV	+0.0100%	4h	32.089	−0.094%	$2.1M	$183K	—	as long as short
Derive VVV-PERP	+0.0100%	1h	32.140	+0.066%	$1K	$1K	5x	as long as short
Phemex VVVUSDTlong	+0.0100%	4h	32.119	long leg	$2.1M	$2.1M	50x
Paradex VVV-USD-PERP	+0.0100%	8h	32.123	+0.012%	$3K	$106	5x	as long as short
Extended VVV-USD	+0.0104%	1h	32.100	−0.058%	$323K	$1.6M	5x	as long as short
Aevo VVV-PERP	+0.0104%	1h	32.151	+0.098%	$6K	$13K	3x	as long as short
edgeX VVVUSDC	+0.0106%	4h	32.120	+0.003%	$80K	$332K	10x	as long as short
Phoenix VVV	+0.0124%	1h	32.130	+0.034%	$56K	$299K	5x	as long as short
Backpack VVV_USDC_PERP	+0.0143%	1h	32.115	−0.011%	$121K	$358K	5x	as long as short
GMX VVV/USD [ETH-USDC]	L +0.0180% / S +0.0173%	1h	32.151	+0.098%	$618K	—	100x	as long as short
Coinbase International VVV-PERP-INTX	+0.0192%	1h	32.278	+0.494%	$242K	$1.3M	25x	as long as short