Funding arb · Price arb /

VVV

all VVV markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0090%/8h= −9.9% APRpaid last 24h −0.014%

Price spread now: edgeX against Phoenix−0.154%7-day average −0.001% · you buy dearer than you sell

Net, funding: paid 7d − costs−$152as in the Funding arb table

Net, price: spread back to 7d avg − costs−$142as in the Price arb table

costs, in and out, $10k−$1271.266% of the position

Long on Phoenix Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.257%−$26 on $10k

Price spread, last 4 days (all we have)+0.095%+$10 · spread now −0.154%, 7d avg −0.001%

Together, before fees−0.162%+ Points / potential airdropedgeX: Active · farm board−$16 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and edgeX is 0.153% cheaper against Phoenix than usual: you would sell low and buy high (−$15 if the spread goes back to its 7-day average of −0.001%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phoenix VVV	31.393	0.0209	pay 0.0026% / 1h	59m 07s	$33K	$231K	5x
Short	edgeX VVVUSDC	31.345	0.0118	get 0.0059% / 4h	1h 59m	$78K	$333K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX 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 edgeXbpOrdersPrice spread, now −0.154%Rate

Funding earned: −$18.95
Price spread: −0.154% → −0.001%: −$15.34
Slippage, 4 orders: −$110.55
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: −$160.85
Costs to cover: 1.266%
Break-even: never at this rate

Slippage from Phoenix: live order book, 46 min ago; edgeX: live order book, 49 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, 46 min ago	2.94 bp	19.7 bp −$20	65.3 bp −$653	doesn't fit	doesn't fit
Sell edgeX live order book, 49 min ago	1.47 bp	72.2 bp −$72	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
Coinbase International VVV-PERP-INTX	−0.0088%	1h	31.194	−0.634%	$189K	$1.3M	25x	as long as short
RISEx VVV/USDC	−0.0085%	1h	31.255	−0.439%	$383K	$648K	5x	as long as short
Deribit VVV_USDC-PERPETUAL	0.0000%	1h	31.246	−0.469%	$87K	$22K	10x	as long as short
gTrade (Gains Network) VVV/USD	L +0.0004% / S −0.0002%	1h	31.262	−0.419%	$22K	—	150x	as long as short
Injective VVV/USDC PERP	+0.0033%	1h	32.820	+4.546%	$2K	$1K	5.5x	as long as short
01 Exchange VVVUSD	+0.0048%	1h	31.255	−0.440%	$11K	$3K	3x	as long as short
Lighter VVV	+0.0096%	1h	31.239	−0.489%	$2.0M	$4.5M	5x	as long as short
Lighter RH VVV	+0.0096%	1h	31.262	−0.417%	$459K	$1.5M	5x	as long as short
Paradex VVV-USD-PERP	+0.0100%	8h	31.250	−0.455%	$3K	$73	5x	as long as short
Nado VVV-PERP	+0.0100%	1h	31.284	−0.347%	$162K	$898K	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	31.296	−0.309%	$70.4M	$48.0M	3x	as long as short
Aster VVVUSDT	+0.0100%	4h	31.287	−0.336%	$249K	$1.0M	10x	as long as short
Pacifica VVV	+0.0100%	1h	31.306	−0.276%	$185K	$128K	10x	as long as short
Binance VVVUSDT	+0.0100%	4h	31.271	−0.389%	$33.8M	$121.4M	25x	as long as short
Bybit VVVUSDT	+0.0100%	4h	31.250	−0.456%	$38.5M	$41.6M	20x	as long as short
OKX VVV-USDT-SWAP	+0.0100%	4h	31.269	−0.395%	$4.9M	$31.1M	20x	as long as short
Gate VVV_USDT	+0.0100%	4h	31.263	−0.414%	$11.1M	$5.4M	25x	as long as short
MEXC VVV_USDT	+0.0100%	4h	31.276	−0.373%	$6.6M	$5.6M	50x	as long as short
KuCoin VVVUSDTM	+0.0100%	4h	31.268	−0.398%	$1.8M	$2.8M	20x	as long as short
Bitget VVVUSDT	+0.0100%	4h	31.259	−0.427%	$5.8M	$7.1M	20x	as long as short
BingX VVV-USDT	+0.0100%	4h	31.279	−0.363%	—	$4.9M	—	as long as short
Variational Omni VVV	+0.0100%	4h	31.291	−0.324%	$2.0M	$355K	—	as long as short
Polymarket Perps VVV-USD	+0.0100%	1h	31.246	−0.468%	$121K	$1.4M	3x	as long as short
Derive VVV-PERP	+0.0100%	1h	31.242	−0.483%	$3K	$3K	5x	as long as short
Phemex VVVUSDT	+0.0100%	4h	31.255	−0.440%	$2.0M	$2.1M	50x	as long as short
Extended VVV-USD	+0.0104%	1h	31.256	−0.435%	$298K	$2.2M	5x	as long as short
Aevo VVV-PERP	+0.0104%	1h	31.268	−0.399%	$6K	—	3x	as long as short
BloFin VVV-USDT	+0.0118%	4h	31.271	−0.389%	$1.3M	$1.5M	25x	as long as short
edgeX VVVUSDCshort	+0.0118%	4h	31.345	−0.154%	$78K	$333K	10x
Kalshi KXVVVPERP	+0.0126%	8h	31.260	−0.424%	$96K	$5.5M	1.7x	as long as short
Phoenix VVVlong	+0.0209%	1h	31.393	long leg	$33K	$231K	5x
Backpack VVV_USDC_PERP	+0.0388%	1h	31.302	−0.291%	$149K	$264K	5x	as long as short
GMX VVV/USD [ETH-USDC]	L +0.0425% / S −0.0199%	1h	31.251	−0.454%	$500K	—	100x	as long as short