Funding arb · Price arb /

VVV

all VVV markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h −0.050%

Price spread now: Bitget against Phoenix−0.485%7-day average −0.083% · you buy dearer than you sell

Net, funding: paid 7d − costs−$111as in the Funding arb table

Net, price: spread back to 7d avg − costs−$116as in the Price arb table

costs, in and out, $10k−$760.760% of the position

Long on Phoenix Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days−0.352%−$35 on $10k

Price spread, last 4 days (all we have)−0.236%−$24 · spread now −0.485%, 7d avg −0.083%

Together, before fees−0.589%−$59 on $10k · with fees, hour by hour

Funding pays, the price is against you. Bitget is 0.402% cheaper against Phoenix than usual: you would sell low and buy high (spread −0.485% now, against its 7-day average of −0.083%). If the spread goes back, that is −$40 on $10k: about 13 days of funding at the current rate (+$3 a day). Mind the row above: over the last 7 days funding on this pair cost −0.352%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phoenix VVV	31.344	0	get 0.0000% / 1h	9m 23s	$42K	$289K	5x
Short	Bitget VVVUSDT	31.192	0.0100	get 0.0050% / 4h	2h 09m	$5.6M	$8.5M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget 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 BitgetbpOrdersPrice spread, now −0.485%Rate

Funding earned: $21
Price spread: −0.485% → −0.083%: −$40.21
Slippage, 4 orders: −$56.98
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$95.18
Costs to cover: 0.760%
Break-even: 38.7 days

Slippage from Phoenix: live order book, 56 min ago; Bitget: 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, 56 min ago	3.13 bp	19.8 bp −$20	65.3 bp −$653	doesn't fit	doesn't fit
Sell Bitget live order book, 4 min ago	4.45 bp	17.7 bp −$18	40.7 bp −$407	doesn't fit	doesn't fit

VVV on 32 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	−0.0111%	1h	31.186	−0.504%	$383K	$641K	5x	as long as short
Gate VVV_USDT	−0.0044%	4h	31.164	−0.574%	$10.5M	$7.1M	25x	as long as short
Polymarket Perps VVV-USD	−0.0033%	1h	31.184	−0.510%	$133K	$1.2M	3x	as long as short
Phoenix VVVlong	0.0000%	1h	31.344	long leg	$42K	$289K	5x
Deribit VVV_USDC-PERPETUAL	0.0000%	1h	31.225	−0.379%	$87K	$24K	10x	as long as short
gTrade (Gains Network) VVV/USD	L +0.0004% / S −0.0005%	1h	31.215	−0.411%	$19K	—	150x	as long as short
Injective VVV/USDC PERP	+0.0033%	1h	32.820	+4.709%	$2K	$1K	5.5x	as long as short
Lighter VVV	+0.0096%	1h	31.179	−0.528%	$2.1M	$5.6M	5x	as long as short
Lighter RH VVV	+0.0096%	1h	31.213	−0.418%	$461K	$1.5M	5x	as long as short
Paradex VVV-USD-PERP	+0.0100%	8h	31.224	−0.384%	$3K	$73	5x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado VVV-PERP	+0.0100%	1h	31.191	−0.487%	$129K	$846K	3x	as long as short
Hyperliquid VVV	+0.0100%	1h	31.215	−0.412%	$72.0M	$53.2M	3x	as long as short
Aster VVVUSDT	+0.0100%	4h	31.188	−0.499%	$252K	$1.8M	10x	as long as short
Pacifica VVV	+0.0100%	1h	31.219	−0.400%	$187K	$162K	10x	as long as short
Binance VVVUSDT	+0.0100%	4h	31.226	−0.378%	$33.2M	$148.3M	25x	as long as short
Bybit VVVUSDT	+0.0100%	4h	31.219	−0.399%	$38.3M	$50.4M	20x	as long as short
OKX VVV-USDT-SWAP	+0.0100%	4h	31.201	−0.456%	$4.7M	$39.1M	20x	as long as short
MEXC VVV_USDT	+0.0100%	4h	31.208	−0.434%	$6.3M	$6.9M	50x	as long as short
KuCoin VVVUSDTM	+0.0100%	4h	31.220	−0.396%	$1.8M	$2.8M	20x	as long as short
Bitget VVVUSDTshort	+0.0100%	4h	31.192	−0.485%	$5.6M	$8.5M	20x
BingX VVV-USDT	+0.0100%	4h	31.210	−0.428%	—	$5.4M	—	as long as short
Variational Omni VVV	+0.0100%	4h	31.321	−0.075%	$2.0M	$185K	—	as long as short
Derive VVV-PERP	+0.0100%	1h	31.223	−0.387%	$3K	$3K	5x	as long as short
Phemex VVVUSDT	+0.0100%	4h	31.260	−0.268%	$2.0M	$2.1M	50x	as long as short
Extended VVV-USD	+0.0104%	1h	31.187	−0.500%	$296K	$1.9M	5x	as long as short
Aevo VVV-PERP	+0.0104%	1h	31.220	−0.397%	$6K	—	3x	as long as short
Kalshi KXVVVPERP	+0.0111%	8h	31.244	−0.319%	$111K	$6.4M	1.7x	as long as short
edgeX VVVUSDC	+0.0113%	4h	31.350	+0.019%	$78K	$334K	10x	as long as short
01 Exchange VVVUSD	+0.0120%	1h	31.198	−0.466%	$11K	$3K	3x	as long as short
GMX VVV/USD [ETH-USDC]	L +0.0176% / S +0.0124%	1h	31.212	−0.420%	$562K	—	100x	as long as short
Coinbase International VVV-PERP-INTX	+0.0208%	1h	31.333	−0.034%	$155K	$1.3M	25x	as long as short
Backpack VVV_USDC_PERP	+0.0262%	1h	31.230	−0.363%	$121K	$316K	5x	as long as short