Funding arb · Price arb /

VVV

all VVV markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0112%/8h= +12.2% APRpaid last 24h −0.012%

Price spread now: BloFin against Phoenix+0.222%7-day average +0.038% · you sell dearer than you buy

Net, funding: paid 7d − costs−$88as in the Funding arb table

Net, price: spread back to 7d avg − costs−$54as in the Price arb table

costs, in and out, $10k−$720.723% of the position

Long on Phoenix Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.157%−$16 on $10k

Price spread, last 3 days (all we have)+0.021%+$2 · spread now +0.222%, 7d avg +0.038%

Together, before fees−0.136%−$14 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and BloFin is 0.184% dearer against Phoenix than usual: you sell high and buy low: +$18 more if the spread goes back to its 7-day average of +0.038%. Mind the row above: over the last 7 days funding on this pair cost −0.157%, 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	31.514	0	get 0.0000% / 1h	50m 06s	$54K	$289K	5x
Short	BloFin VVV-USDT	31.584	0.0112	get 0.0056% / 4h	2h 50m	$1.3M	$1.8M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin 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 BloFinbpOrdersPrice spread, now +0.222%Rate

Funding earned: $23.44
Price spread: +0.222% → +0.038%: $18.45
Slippage, 4 orders: −$53.25
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$30.36
Costs to cover: 0.722%
Break-even: 16.1 days

Slippage from Phoenix: live order book, 15 min ago; BloFin: live order book, 3 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, 15 min ago	3.13 bp	19.8 bp −$20	65.3 bp −$653	doesn't fit	doesn't fit
Sell BloFin live order book, 3 min ago	2.69 bp	18.6 bp −$19	doesn't fit	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
Bybit VVVUSDT	−0.0261%	4h	31.643	+0.409%	$38.6M	$51.7M	20x	as long as short
Gate VVV_USDT	−0.0142%	4h	31.641	+0.403%	$10.6M	$7.0M	25x	as long as short
Polymarket Perps VVV-USD	−0.0139%	1h	31.628	+0.362%	$144K	$1.2M	3x	as long as short
RISEx VVV/USDC	−0.0111%	1h	31.627	+0.358%	$388K	$616K	5x	as long as short
Kalshi KXVVVPERP	0.0000%	8h	31.677	+0.517%	$117K	$6.5M	1.7x	as long as short
Phoenix VVVlong	0.0000%	1h	31.514	long leg	$54K	$289K	5x
Deribit VVV_USDC-PERPETUAL	0.0000%	1h	31.649	+0.428%	$88K	$24K	10x	as long as short
gTrade (Gains Network) VVV/USD	L +0.0004% / S −0.0005%	1h	31.631	+0.372%	$20K	—	150x	as long as short
01 Exchange VVVUSD	+0.0016%	1h	31.642	+0.406%	$11K	$3K	3x	as long as short
Injective VVV/USDC PERP	+0.0033%	1h	32.820	+4.144%	$2K	$1K	5.5x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter VVV	+0.0064%	1h	31.635	+0.385%	$2.1M	$5.6M	5x	as long as short
Lighter RH VVV	+0.0096%	1h	31.611	+0.308%	$467K	$1.5M	5x	as long as short
Paradex VVV-USD-PERP	+0.0100%	8h	31.631	+0.370%	$3K	$106	5x	as long as short
Nado VVV-PERP	+0.0100%	1h	31.640	+0.400%	$125K	$851K	3x	as long as short
Hyperliquid VVV	+0.0100%	1h	31.671	+0.498%	$73.1M	$55.3M	3x	as long as short
Aster VVVUSDT	+0.0100%	4h	31.620	+0.336%	$256K	$1.9M	10x	as long as short
Pacifica VVV	+0.0100%	1h	31.639	+0.398%	$189K	$183K	10x	as long as short
Binance VVVUSDT	+0.0100%	4h	31.651	+0.434%	$33.5M	$153.6M	25x	as long as short
OKX VVV-USDT-SWAP	+0.0100%	4h	31.634	+0.381%	$4.7M	$40.8M	20x	as long as short
MEXC VVV_USDT	+0.0100%	4h	31.648	+0.425%	$6.4M	$6.8M	50x	as long as short
KuCoin VVVUSDTM	+0.0100%	4h	31.611	+0.308%	$1.8M	$2.9M	20x	as long as short
Bitget VVVUSDT	+0.0100%	4h	31.643	+0.409%	$5.7M	$8.9M	20x	as long as short
BingX VVV-USDT	+0.0100%	4h	31.662	+0.470%	—	$5.5M	—	as long as short
Variational Omni VVV	+0.0100%	4h	31.570	+0.178%	$2.1M	$190K	—	as long as short
Derive VVV-PERP	+0.0100%	1h	31.631	+0.372%	$3K	$3K	5x	as long as short
Phemex VVVUSDT	+0.0100%	4h	31.641	+0.403%	$2.0M	$2.1M	50x	as long as short
Extended VVV-USD	+0.0104%	1h	31.629	+0.366%	$299K	$2.0M	5x	as long as short
Aevo VVV-PERP	+0.0104%	1h	31.624	+0.349%	$6K	—	3x	as long as short
BloFin VVV-USDTshort	+0.0112%	4h	31.584	+0.222%	$1.3M	$1.8M	25x
edgeX VVVUSDC	+0.0117%	4h	31.637	+0.391%	$79K	$335K	10x	as long as short
Backpack VVV_USDC_PERP	+0.0157%	1h	31.681	+0.530%	$123K	$329K	5x	as long as short
GMX VVV/USD [ETH-USDC]	L +0.0177% / S +0.0122%	1h	31.631	+0.370%	$572K	—	100x	as long as short
Coinbase International VVV-PERP-INTX	+0.0208%	1h	31.534	+0.063%	$243K	$1.2M	25x	as long as short