Funding arb · Price arb /

VVV

all VVV markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 21:00 UTC+0.0023%/8h= +2.5% APRpaid last 24h −0.025%

Price spread now: Binance against Phoenix−0.304%95s7-day average +0.005% · you buy dearer than you sell

Net, funding: paid 7d − costs−$98as 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−$670.667% of the position

Long on Phoenix Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days−0.310%−$31 on $10k

Price spread, last 3 days (all we have)+0.333%+$33 · spread now −0.304%, 7d avg +0.005%

Together, before fees+0.024%+$2 on $10k · with fees, hour by hour

Funding pays, the price is against you. Binance is 0.310% cheaper against Phoenix than usual: you would sell low and buy high (spread −0.304% now, against its 7-day average of +0.005%). If the spread goes back, that is −$31 on $10k: about 45 days of funding at the current rate (+$1 a day). Mind the row above: over the last 7 days funding on this pair cost −0.310%, so the current rate has only just turned in your favour. The two prices were read 95 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	Phoenix VVV	32.539	0.0077	pay 0.0010% / 1h	53m 51s	$57K	$294K	5x
Short	Binance VVVUSDT	32.440	0.0100	get 0.0050% / 4h	1h 53m	$34.2M	$155.8M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Phoenix. 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 PhoenixbpFee BinancebpOrdersPrice spread, now −0.304%Rate

Funding earned: $4.82
Price spread: −0.304% → +0.005%: −$30.95
Slippage, 4 orders: −$49.7
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee Binance: 5 bp × 2 orders: −$10
Net: −$92.83
Costs to cover: 0.667%
Break-even: 141.7 days

Slippage from Phoenix: live order book, 27 min ago; Binance: live order book, 4 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 Phoenix live order book, 27 min ago	3.12 bp	19.7 bp −$20	65.2 bp −$652	doesn't fit	doesn't fit
Sell Binance live order book, 4 min ago	0.92 bp	13.5 bp −$13	37.6 bp −$376	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
Deribit VVV_USDC-PERPETUAL	−0.0212%	1h	32.451	−0.269%	$92K	$23K	10x	as long as short
Kalshi KXVVVPERP	0.0000%	8h	32.503	−0.111%	$105K	$6.8M	1.7x	as long as short
gTrade (Gains Network) VVV/USD	L +0.0004% / S −0.0004%	1h	32.458	−0.248%	$19K	—	150x	as long as short
Injective VVV/USDC PERP	+0.0033%	1h	32.820	+0.864%	$2K	$1K	5.5x	as long as short
BloFin VVV-USDT	+0.0067%	4h	32.502	−0.114%	$1.4M	$1.8M	25x	as long as short
Phoenix VVVlong	+0.0077%	1h	32.539	long leg	$57K	$294K	5x
Lighter VVV	+0.0096%	1h	32.459	−0.247%	$2.2M	$5.4M	5x	as long as short
Lighter RH VVV	+0.0096%	1h	32.441	−0.301%	$485K	$1.6M	5x	as long as short
Nado VVV-PERP	+0.0100%	1h	32.465	−0.226%	$150K	$783K	3x	as long as short
Aster VVVUSDT	+0.0100%	4h	32.461	−0.240%	$274K	$1.8M	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	32.494	−0.137%	$193K	$176K	10x	as long as short
Binance VVVUSDTshort	+0.0100%	4h	32.440	−0.304%	$34.2M	$155.8M	25x
Bybit VVVUSDT	+0.0100%	4h	32.430	−0.334%	$40.0M	$52.3M	20x	as long as short
OKX VVV-USDT-SWAP	+0.0100%	4h	32.453	−0.264%	$4.8M	$42.7M	20x	as long as short
Gate VVV_USDT	+0.0100%	4h	32.441	−0.301%	$11.0M	$7.7M	25x	as long as short
MEXC VVV_USDT	+0.0100%	4h	32.455	−0.258%	$17.5M	$7.0M	50x	as long as short
KuCoin VVVUSDTM	+0.0100%	4h	32.464	−0.230%	$2.0M	$2.8M	20x	as long as short
Bitget VVVUSDT	+0.0100%	4h	32.445	−0.289%	$5.9M	$8.8M	20x	as long as short
BingX VVV-USDT	+0.0100%	4h	32.457	−0.252%	—	$5.4M	—	as long as short
Variational Omni VVV	+0.0100%	4h	32.467	−0.222%	$2.1M	$180K	—	as long as short
Polymarket Perps VVV-USD	+0.0100%	1h	32.456	−0.255%	$149K	$1.2M	3x	as long as short
Derive VVV-PERP	+0.0100%	1h	32.451	−0.270%	$1K	$1K	5x	as long as short
Phemex VVVUSDT	+0.0100%	4h	32.443	−0.295%	$2.1M	$2.0M	50x	as long as short
Paradex VVV-USD-PERP	+0.0100%	8h	32.490	−0.151%	$3K	$106	5x	as long as short
Extended VVV-USD	+0.0104%	1h	32.449	−0.278%	$321K	$1.6M	5x	as long as short
Aevo VVV-PERP	+0.0104%	1h	32.486	−0.164%	$7K	$13K	3x	as long as short
edgeX VVVUSDC	+0.0112%	4h	32.506	−0.103%	$81K	$330K	10x	as long as short
Coinbase International VVV-PERP-INTX	+0.0144%	1h	32.490	−0.151%	$200K	$1.1M	25x	as long as short
RISEx VVV/USDC	+0.0175%	1h	32.472	−0.205%	$398K	$589K	5x	as long as short
GMX VVV/USD [ETH-USDC]	L +0.0191% / S +0.0097%	1h	32.457	−0.251%	$566K	—	100x	as long as short
Backpack VVV_USDC_PERP	+0.0380%	1h	32.472	−0.205%	$125K	$374K	5x	as long as short
01 Exchange VVVUSD	+0.0576%	1h	32.497	−0.129%	$12K	$3K	3x	as long as short
Hyperliquid VVV	+0.0946%	1h	32.525	−0.043%	$75.7M	$55.2M	3x	as long as short