Funding arb · Price arb /

VVV

all VVV markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0067%/8h= −7.3% APRpaid last 24h −0.010%

Price spread now: Injective against Phemex+5.683%65s7-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 Injective

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

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. Injective is 5.683% dearer against Phemex than usual: you sell high and buy low (spread +5.683% now, against zero (this spread has no 7-day history yet)): +$568 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 9 months. The two prices were read 65 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	31.055	0.0100	pay 0.0050% / 4h	2h 19m	$2.0M	$2.1M	50x
Short	Injective VVV/USDC PERP	32.820	0.0033	get 0.0004% / 1h	19m 59s	$2K	$1K	5.5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective 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 InjectivebpOrdersPrice spread, now +5.683%Rate

Funding earned: −$14
Price spread: +5.683% → 0.000%: $568.35
Slippage, 4 orders: no order book: not counted
Fee Phemex: 6 bp × 2 orders: −$12
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: $542.33
Costs to cover: 0.120%
Break-even: from the start

Slippage unknown: Phemex: live order book, 3 min ago; Injective: 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, 3 min ago	0.65 bp	65.7 bp −$66	doesn't fit	doesn't fit	doesn't fit
Sell Injective no order-book sample	—	—	—	—	—

Injective: 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	−0.0329%	1h	31.058	+0.011%	$389K	$644K	5x	as long as short
Coinbase International VVV-PERP-INTX	−0.0040%	1h	30.630	−1.369%	$142K	$1.2M	25x	as long as short
gTrade (Gains Network) VVV/USD	L +0.0004% / S −0.0002%	1h	31.062	+0.023%	$22K	—	150x	as long as short
Injective VVV/USDC PERPshort	+0.0033%	1h	32.820	+5.683%	$2K	$1K	5.5x
Lighter VVV	+0.0096%	1h	31.035	−0.066%	$2.0M	$4.7M	5x	as long as short
Lighter RH VVV	+0.0096%	1h	31.061	+0.019%	$453K	$1.6M	5x	as long as short
Paradex VVV-USD-PERP	+0.0100%	8h	31.044	−0.034%	$3K	$73	5x	as long as short
Nado VVV-PERP	+0.0100%	1h	31.092	+0.118%	$164K	$891K	3x	as long as short
Hyperliquid VVV	+0.0100%	1h	31.097	+0.135%	$70.0M	$47.9M	3x	as long as short
Aster VVVUSDT	+0.0100%	4h	31.101	+0.148%	$247K	$1.0M	10x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica VVV	+0.0100%	1h	31.062	+0.024%	$183K	$128K	10x	as long as short
Binance VVVUSDT	+0.0100%	4h	31.103	+0.155%	$33.5M	$121.2M	25x	as long as short
Bybit VVVUSDT	+0.0100%	4h	31.064	+0.029%	$38.5M	$41.6M	20x	as long as short
OKX VVV-USDT-SWAP	+0.0100%	4h	31.090	+0.113%	$4.8M	$30.8M	20x	as long as short
Gate VVV_USDT	+0.0100%	4h	31.077	+0.071%	$10.9M	$5.7M	25x	as long as short
MEXC VVV_USDT	+0.0100%	4h	31.097	+0.135%	$6.5M	$5.7M	50x	as long as short
KuCoin VVVUSDTM	+0.0100%	4h	31.081	+0.084%	$1.9M	$2.8M	20x	as long as short
Bitget VVVUSDT	+0.0100%	4h	31.070	+0.048%	$5.7M	$7.1M	20x	as long as short
BingX VVV-USDT	+0.0100%	4h	31.089	+0.109%	—	$4.9M	—	as long as short
Variational Omni VVV	+0.0100%	4h	30.914	−0.454%	$1.9M	$351K	—	as long as short
Polymarket Perps VVV-USD	+0.0100%	1h	31.078	+0.074%	$120K	$1.4M	3x	as long as short
Derive VVV-PERP	+0.0100%	1h	31.046	−0.028%	$3K	$3K	5x	as long as short
Phemex VVVUSDTlong	+0.0100%	4h	31.055	long leg	$2.0M	$2.1M	50x
Extended VVV-USD	+0.0104%	1h	31.067	+0.038%	$297K	$2.2M	5x	as long as short
01 Exchange VVVUSD	+0.0104%	1h	31.091	+0.116%	$11K	$3K	3x	as long as short
Aevo VVV-PERP	+0.0104%	1h	31.125	+0.224%	$6K	—	3x	as long as short
edgeX VVVUSDC	+0.0110%	4h	30.916	−0.449%	$77K	$332K	10x	as long as short
BloFin VVV-USDT	+0.0148%	4h	30.951	−0.335%	$1.3M	$1.5M	25x	as long as short
Kalshi KXVVVPERP	+0.0181%	8h	31.062	+0.023%	$99K	$5.5M	1.7x	as long as short
Phoenix VVV	+0.0209%	1h	30.754	−0.969%	$32K	$243K	5x	as long as short
Deribit VVV_USDC-PERPETUAL	+0.0407%	1h	31.074	+0.062%	$86K	$22K	10x	as long as short
GMX VVV/USD [ETH-USDC]	L +0.0421% / S −0.0196%	1h	31.063	+0.026%	$497K	—	100x	as long as short
Backpack VVV_USDC_PERP	+0.0427%	1h	31.116	+0.195%	$116K	$239K	5x	as long as short