Funding arb · Price arb /

VVV

all VVV markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0060%/8h= −6.5% APRpaid last 24h +0.083%

Price spread now: RISEx against Phemex+0.030%7-day average −0.040% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$96as in the Price arb table

costs, in and out, $10k−$1031.027% of the position

Long on Phemex Short on RISEx

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.356%+$36 on $10k

Price spread, last 3 days (all we have)−0.141%−$14 · spread now +0.030%, 7d avg −0.040%

Together, before fees+0.215%+$22 on $10k · with fees, hour by hour

The price spread pays, funding is against you. RISEx is 0.070% dearer against Phemex than usual: you sell high and buy low (spread +0.030% now, against its 7-day average of −0.040%): +$7 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 3.9 days. Mind the row above: over the last 3 days funding on this pair paid +0.356%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex VVVUSDT	32.083	0.0100	pay 0.0050% / 4h	26m 04s	$2.1M	$2.1M	50x
Short	RISEx VVV/USDC	32.093	0.0040	get 0.0005% / 1h	26m 04s	$395K	$604K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

RISEx 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 RISExbpOrdersPrice spread, now +0.030%Rate

Funding earned: −$12.51
Price spread: +0.030% → −0.040%: $6.96
Slippage, 4 orders: −$84.65
Fee Phemex: 6 bp × 2 orders: −$12
Fee RISEx: 3 bp × 2 orders: −$6
Net: −$108.21
Costs to cover: 1.027%
Break-even: never at this rate

Slippage from Phemex: live order book, 2 min ago; RISEx: live order book, 53 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, 2 min ago	1.87 bp	39.8 bp −$40	doesn't fit	doesn't fit	doesn't fit
Sell RISEx live order book, 53 min ago	2.60 bp	5.6 bp −$6	25.6 bp −$256	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	32.074	−0.028%	$108K	$6.8M	1.7x	as long as short
Deribit VVV_USDC-PERPETUAL	0.0000%	1h	32.044	−0.121%	$91K	$23K	10x	as long as short
gTrade (Gains Network) VVV/USD	L +0.0004% / S −0.0004%	1h	32.101	+0.056%	$19K	—	150x	as long as short
Injective VVV/USDC PERP	+0.0033%	1h	32.820	+2.297%	$2K	$1K	5.5x	as long as short
Polymarket Perps VVV-USD	+0.0035%	1h	32.078	−0.016%	$146K	$1.2M	3x	as long as short
RISEx VVV/USDCshort	+0.0040%	1h	32.093	+0.030%	$395K	$604K	5x
01 Exchange VVVUSD	+0.0056%	1h	32.096	+0.041%	$11K	$3K	3x	as long as short
Lighter VVV	+0.0096%	1h	32.041	−0.130%	$2.3M	$5.5M	5x	as long as short
Lighter RH VVV	+0.0096%	1h	32.018	−0.203%	$476K	$1.6M	5x	as long as short
Nado VVV-PERP	+0.0100%	1h	32.105	+0.067%	$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	32.053	−0.093%	$74.2M	$55.8M	3x	as long as short
Aster VVVUSDT	+0.0100%	4h	32.060	−0.071%	$263K	$1.9M	10x	as long as short
Pacifica VVV	+0.0100%	1h	32.145	+0.194%	$192K	$191K	10x	as long as short
Binance VVVUSDT	+0.0100%	4h	32.037	−0.145%	$33.5M	$156.6M	25x	as long as short
Bybit VVVUSDT	+0.0100%	4h	32.005	−0.244%	$39.3M	$52.2M	20x	as long as short
OKX VVV-USDT-SWAP	+0.0100%	4h	31.994	−0.277%	$4.6M	$42.3M	20x	as long as short
Gate VVV_USDT	+0.0100%	4h	32.015	−0.212%	$10.8M	$7.5M	25x	as long as short
MEXC VVV_USDT	+0.0100%	4h	32.052	−0.097%	$6.4M	$7.0M	50x	as long as short
KuCoin VVVUSDTM	+0.0100%	4h	32.099	+0.050%	$2.0M	$2.8M	20x	as long as short
Bitget VVVUSDT	+0.0100%	4h	32.024	−0.184%	$5.8M	$8.9M	20x	as long as short
BingX VVV-USDT	+0.0100%	4h	32.030	−0.165%	—	$5.5M	—	as long as short
Variational Omni VVV	+0.0100%	4h	32.110	+0.084%	$2.1M	$183K	—	as long as short
Derive VVV-PERP	+0.0100%	1h	32.025	−0.182%	$1K	$1K	5x	as long as short
Phemex VVVUSDTlong	+0.0100%	4h	32.083	long leg	$2.1M	$2.1M	50x
Paradex VVV-USD-PERP	+0.0100%	8h	32.108	+0.079%	$3K	$106	5x	as long as short
Extended VVV-USD	+0.0104%	1h	32.031	−0.163%	$323K	$1.6M	5x	as long as short
Aevo VVV-PERP	+0.0104%	1h	32.079	−0.011%	$6K	$13K	3x	as long as short
BloFin VVV-USDT	+0.0105%	4h	32.146	+0.196%	$1.3M	$1.8M	25x	as long as short
edgeX VVVUSDC	+0.0106%	4h	32.120	+0.116%	$80K	$332K	10x	as long as short
Phoenix VVV	+0.0124%	1h	32.130	+0.146%	$56K	$299K	5x	as long as short
Backpack VVV_USDC_PERP	+0.0135%	1h	32.035	−0.151%	$123K	$358K	5x	as long as short
GMX VVV/USD [ETH-USDC]	L +0.0180% / S +0.0173%	1h	32.086	+0.010%	$617K	—	100x	as long as short
Coinbase International VVV-PERP-INTX	+0.0192%	1h	32.278	+0.607%	$242K	$1.3M	25x	as long as short