Funding arb · Price arb /

VVV

all VVV markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h −0.026%

Price spread now: MEXC against Phoenix+0.191%47s7-day average +0.005% · you sell dearer than you buy

Net, funding: paid 7d − costs−$80as 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−$500.499% of the position

Long on Phoenix Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days−0.301%−$30 on $10k

Price spread, last 3 days (all we have)−0.131%−$13 · spread now +0.191%, 7d avg +0.005%

Together, before fees−0.432%−$43 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 MEXC is 0.187% dearer against Phoenix than usual: you sell high and buy low: +$19 more if the spread goes back to its 7-day average of +0.005%. Mind the row above: over the last 7 days funding on this pair cost −0.301%, so the current rate has only just turned in your favour. The two prices were read 47 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	31.867	0	get 0.0000% / 1h	12m 41s	$56K	$298K	5x
Short	MEXC VVV_USDT	31.928	0.0100	get 0.0050% / 4h	3h 12m	$6.4M	$7.0M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now +0.191%Rate

Funding earned: $21
Price spread: +0.191% → +0.005%: $18.68
Slippage, 4 orders: −$42.86
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee MEXC: 0 bp × 2 orders: $0
Net: −$10.18
Costs to cover: 0.499%
Break-even: 10.4 days

Slippage from Phoenix: live order book, 58 min ago; MEXC: live order book, 5 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, 58 min ago	3.13 bp	19.8 bp −$20	64.9 bp −$649	doesn't fit	doesn't fit
Sell MEXC live order book, 5 min ago	1.10 bp	6.0 bp −$6	62.7 bp −$627	251.5 bp −$25.2K	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
Polymarket Perps VVV-USD	−0.0247%	1h	31.811	−0.176%	$145K	$1.2M	3x	as long as short
Gate VVV_USDT	−0.0120%	4h	31.913	+0.144%	$10.7M	$7.4M	25x	as long as short
Bybit VVVUSDT	−0.0022%	4h	31.888	+0.066%	$39.0M	$51.6M	20x	as long as short
01 Exchange VVVUSD	−0.0016%	1h	31.921	+0.169%	$11K	$3K	3x	as long as short
RISEx VVV/USDC	−0.0015%	1h	31.905	+0.118%	$392K	$602K	5x	as long as short
Kalshi KXVVVPERP	0.0000%	8h	31.899	+0.100%	$111K	$6.5M	1.7x	as long as short
Phoenix VVVlong	0.0000%	1h	31.867	long leg	$56K	$298K	5x
Deribit VVV_USDC-PERPETUAL	0.0000%	1h	31.868	+0.003%	$89K	$24K	10x	as long as short
gTrade (Gains Network) VVV/USD	L +0.0004% / S −0.0004%	1h	31.849	−0.055%	$19K	—	150x	as long as short
Injective VVV/USDC PERP	+0.0033%	1h	32.820	+2.991%	$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
BloFin VVV-USDT	+0.0087%	4h	31.870	+0.009%	$1.3M	$1.8M	25x	as long as short
Lighter VVV	+0.0096%	1h	31.901	+0.107%	$2.2M	$5.9M	5x	as long as short
Lighter RH VVV	+0.0096%	1h	31.901	+0.107%	$472K	$1.6M	5x	as long as short
Nado VVV-PERP	+0.0100%	1h	31.831	−0.115%	$125K	$850K	3x	as long as short
Hyperliquid VVV	+0.0100%	1h	31.934	+0.210%	$74.2M	$55.1M	3x	as long as short
Aster VVVUSDT	+0.0100%	4h	31.933	+0.206%	$260K	$1.9M	10x	as long as short
Pacifica VVV	+0.0100%	1h	31.929	+0.195%	$191K	$183K	10x	as long as short
Binance VVVUSDT	+0.0100%	4h	31.905	+0.118%	$33.5M	$154.3M	25x	as long as short
OKX VVV-USDT-SWAP	+0.0100%	4h	31.920	+0.166%	$4.7M	$41.4M	20x	as long as short
MEXC VVV_USDTshort	+0.0100%	4h	31.928	+0.191%	$6.4M	$7.0M	50x
KuCoin VVVUSDTM	+0.0100%	4h	31.927	+0.188%	$2.0M	$2.8M	20x	as long as short
Bitget VVVUSDT	+0.0100%	4h	31.901	+0.107%	$5.8M	$8.9M	20x	as long as short
BingX VVV-USDT	+0.0100%	4h	31.916	+0.154%	—	$5.4M	—	as long as short
Backpack VVV_USDC_PERP	+0.0100%	1h	31.917	+0.158%	$123K	$333K	5x	as long as short
Variational Omni VVV	+0.0100%	4h	31.900	+0.102%	$2.1M	$190K	—	as long as short
Derive VVV-PERP	+0.0100%	1h	31.865	−0.005%	$3K	$2K	5x	as long as short
Phemex VVVUSDT	+0.0100%	4h	31.902	+0.110%	$2.1M	$2.1M	50x	as long as short
Paradex VVV-USD-PERP	+0.0100%	8h	31.904	+0.116%	$3K	$106	5x	as long as short
edgeX VVVUSDC	+0.0102%	4h	31.936	+0.218%	$79K	$336K	10x	as long as short
Extended VVV-USD	+0.0104%	1h	31.914	+0.148%	$304K	$2.0M	5x	as long as short
Aevo VVV-PERP	+0.0104%	1h	31.875	+0.024%	$6K	—	3x	as long as short
GMX VVV/USD [ETH-USDC]	L +0.0178% / S +0.0121%	1h	31.838	−0.090%	$576K	—	100x	as long as short
Coinbase International VVV-PERP-INTX	+0.0320%	1h	31.801	−0.208%	$245K	$1.2M	25x	as long as short