Funding arb · Price arb /

VVV

all VVV markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0002%/8h= +0.2% APRpaid last 24h −0.050%

Price spread now: OKX against Phoenix−0.322%76s7-day average −0.043% · you buy dearer than you sell

Net, funding: paid 7d − costs−$107as 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−$700.702% of the position

Long on Phoenix Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.368%−$37 on $10k

Price spread, last 3 days (all we have)+0.350%+$35 · spread now −0.322%, 7d avg −0.043%

Together, before fees−0.018%−$2 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: OKX is 0.278% cheaper against Phoenix than usual: you would sell low and buy high, −$28 on $10k if it goes back to its 7-day average of −0.043%. The two prices were read 76 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	32.317	0.0098	pay 0.0012% / 1h	10m 15s	$57K	$294K	5x
Short	OKX VVV-USDT-SWAP	32.213	0.0100	get 0.0050% / 4h	1h 10m	$4.7M	$42.8M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now −0.322%Rate

Funding earned: $0.32
Price spread: −0.322% → −0.043%: −$27.84
Slippage, 4 orders: −$53.25
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee OKX: 5 bp × 2 orders: −$10
Net: −$97.76
Costs to cover: 0.702%
Break-even: 2133.6 days

Slippage from Phoenix: live order book, 5 min ago; OKX: 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, 5 min ago	3.10 bp	19.7 bp −$20	65.2 bp −$652	doesn't fit	doesn't fit
Sell OKX live order book, 3 min ago	2.17 bp	16.0 bp −$16	50.7 bp −$507	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
Kalshi KXVVVPERP	0.0000%	8h	32.188	−0.399%	$107K	$6.9M	1.7x	as long as short
Deribit VVV_USDC-PERPETUAL	0.0000%	1h	32.199	−0.367%	$91K	$23K	10x	as long as short
gTrade (Gains Network) VVV/USD	L +0.0004% / S −0.0004%	1h	32.197	−0.371%	$19K	—	150x	as long as short
Injective VVV/USDC PERP	+0.0033%	1h	32.820	+1.556%	$2K	$1K	5.5x	as long as short
Lighter VVV	+0.0096%	1h	32.226	−0.283%	$2.3M	$5.5M	5x	as long as short
Lighter RH VVV	+0.0096%	1h	32.194	−0.381%	$478K	$1.6M	5x	as long as short
Phoenix VVVlong	+0.0098%	1h	32.317	long leg	$57K	$294K	5x
Nado VVV-PERP	+0.0100%	1h	32.208	−0.336%	$149K	$783K	3x	as long as short
Aster VVVUSDT	+0.0100%	4h	32.200	−0.362%	$265K	$1.9M	10x	as long as short
Pacifica VVV	+0.0100%	1h	32.239	−0.243%	$185K	$183K	10x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance VVVUSDT	+0.0100%	4h	32.198	−0.369%	$33.7M	$157.4M	25x	as long as short
Bybit VVVUSDT	+0.0100%	4h	32.191	−0.390%	$39.6M	$52.8M	20x	as long as short
OKX VVV-USDT-SWAPshort	+0.0100%	4h	32.213	−0.322%	$4.7M	$42.8M	20x
Gate VVV_USDT	+0.0100%	4h	32.194	−0.381%	$10.8M	$7.8M	25x	as long as short
MEXC VVV_USDT	+0.0100%	4h	32.198	−0.368%	$6.3M	$7.1M	50x	as long as short
KuCoin VVVUSDTM	+0.0100%	4h	32.204	−0.350%	$2.0M	$2.9M	20x	as long as short
Bitget VVVUSDT	+0.0100%	4h	32.188	−0.399%	$5.8M	$8.9M	20x	as long as short
BingX VVV-USDT	+0.0100%	4h	32.193	−0.384%	—	$5.5M	—	as long as short
Variational Omni VVV	+0.0100%	4h	32.187	−0.403%	$2.1M	$183K	—	as long as short
Polymarket Perps VVV-USD	+0.0100%	1h	32.177	−0.433%	$141K	$1.2M	3x	as long as short
Derive VVV-PERP	+0.0100%	1h	32.195	−0.376%	$1K	$1K	5x	as long as short
Phemex VVVUSDT	+0.0100%	4h	32.192	−0.387%	$2.1M	$2.1M	50x	as long as short
Paradex VVV-USD-PERP	+0.0100%	8h	32.216	−0.314%	$3K	$106	5x	as long as short
BloFin VVV-USDT	+0.0102%	4h	32.211	−0.328%	$1.3M	$1.8M	25x	as long as short
Extended VVV-USD	+0.0104%	1h	32.192	−0.387%	$325K	$1.6M	5x	as long as short
Aevo VVV-PERP	+0.0104%	1h	32.192	−0.386%	$6K	$13K	3x	as long as short
edgeX VVVUSDC	+0.0111%	4h	32.237	−0.246%	$80K	$331K	10x	as long as short
Coinbase International VVV-PERP-INTX	+0.0144%	1h	32.193	−0.383%	$238K	$1.3M	25x	as long as short
RISEx VVV/USDC	+0.0175%	1h	32.186	−0.406%	$395K	$607K	5x	as long as short
GMX VVV/USD [ETH-USDC]	L +0.0186% / S +0.0168%	1h	32.191	−0.389%	$619K	—	100x	as long as short
Backpack VVV_USDC_PERP	+0.0221%	1h	32.226	−0.281%	$122K	$370K	5x	as long as short
Hyperliquid VVV	+0.0260%	1h	32.216	−0.313%	$74.8M	$56.1M	3x	as long as short
01 Exchange VVVUSD	+0.0312%	1h	32.187	−0.402%	$12K	$3K	3x	as long as short