Funding arb · Price arb /

VVV

all VVV markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0082%/8h= −9.0% APRpaid last 24h −0.046%

Price spread now: Paradex against Phoenix−0.164%106s7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Phoenix Short on Paradex

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropParadex: Active · farm boardneeds both histories

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Paradex is 0.164% cheaper against Phoenix than usual: you would sell low and buy high (−$16 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 106 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	30.844	0.0182	pay 0.0023% / 1h	55m 35s	$32K	$257K	5x
Short	Paradex VVV-USD-PERP	30.793	0.0100	get 0.0100% / 8h	3h 55m	$3K	$73	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex 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 ParadexbpOrdersPrice spread, now −0.164%Rate

Funding earned: −$17.24
Price spread: −0.164% → 0.000%: −$16.41
Slippage, 4 orders: no order book: not counted
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee Paradex: 2 bp × 2 orders: −$4
Net: −$44.66
Costs to cover: 0.110%
Break-even: never at this rate

Slippage unknown: Phoenix: live order book, 59 min ago; Paradex: no order-book sample. Net counts fees only.

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, 59 min ago	2.92 bp	19.9 bp −$20	65.3 bp −$653	doesn't fit	doesn't fit
Sell Paradex no order-book sample	—	—	—	—	—

Paradex: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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
RISEx VVV/USDC	−0.0417%	1h	30.822	−0.071%	$378K	$641K	5x	as long as short
Polymarket Perps VVV-USD	−0.0183%	1h	30.811	−0.107%	$129K	$1.2M	3x	as long as short
Coinbase International VVV-PERP-INTX	−0.0088%	1h	30.832	−0.038%	$145K	$1.2M	25x	as long as short
Kalshi KXVVVPERP	0.0000%	8h	30.761	−0.269%	$104K	$5.6M	1.7x	as long as short
Deribit VVV_USDC-PERPETUAL	0.0000%	1h	30.752	−0.297%	$86K	$24K	10x	as long as short
gTrade (Gains Network) VVV/USD	L +0.0004% / S −0.0002%	1h	30.751	−0.302%	$23K	—	150x	as long as short
Injective VVV/USDC PERP	+0.0033%	1h	32.820	+6.406%	$2K	$1K	5.5x	as long as short
BloFin VVV-USDT	+0.0069%	4h	30.767	−0.250%	$1.3M	$1.6M	25x	as long as short
Lighter VVV	+0.0096%	1h	30.825	−0.062%	$2.1M	$5.1M	5x	as long as short
Lighter RH VVV	+0.0096%	1h	30.799	−0.146%	$450K	$1.6M	5x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
01 Exchange VVVUSD	+0.0096%	1h	30.857	+0.042%	$11K	$3K	3x	as long as short
Paradex VVV-USD-PERPshort	+0.0100%	8h	30.793	−0.164%	$3K	$73	5x
Nado VVV-PERP	+0.0100%	1h	30.847	+0.010%	$142K	$873K	3x	as long as short
Hyperliquid VVV	+0.0100%	1h	30.786	−0.188%	$70.2M	$48.8M	3x	as long as short
Aster VVVUSDT	+0.0100%	4h	30.776	−0.220%	$246K	$1.1M	10x	as long as short
Pacifica VVV	+0.0100%	1h	30.824	−0.065%	$182K	$132K	10x	as long as short
Binance VVVUSDT	+0.0100%	4h	30.824	−0.066%	$33.0M	$127.9M	25x	as long as short
Bybit VVVUSDT	+0.0100%	4h	30.829	−0.049%	$38.3M	$42.7M	20x	as long as short
OKX VVV-USDT-SWAP	+0.0100%	4h	30.834	−0.032%	$4.8M	$32.4M	20x	as long as short
Gate VVV_USDT	+0.0100%	4h	30.833	−0.036%	$10.4M	$5.8M	25x	as long as short
MEXC VVV_USDT	+0.0100%	4h	30.823	−0.068%	$6.3M	$5.8M	50x	as long as short
KuCoin VVVUSDTM	+0.0100%	4h	30.760	−0.272%	$1.9M	$2.8M	20x	as long as short
Bitget VVVUSDT	+0.0100%	4h	30.829	−0.049%	$5.7M	$7.4M	20x	as long as short
BingX VVV-USDT	+0.0100%	4h	30.850	+0.019%	—	$5.0M	—	as long as short
Variational Omni VVV	+0.0100%	4h	30.745	−0.322%	$1.9M	$284K	—	as long as short
Derive VVV-PERP	+0.0100%	1h	30.744	−0.324%	$3K	$3K	5x	as long as short
Phemex VVVUSDT	+0.0100%	4h	30.764	−0.259%	$2.0M	$2.1M	50x	as long as short
Extended VVV-USD	+0.0104%	1h	30.839	−0.018%	$294K	$1.9M	5x	as long as short
Aevo VVV-PERP	+0.0104%	1h	30.748	−0.310%	$6K	—	3x	as long as short
edgeX VVVUSDC	+0.0117%	4h	30.780	−0.208%	$76K	$332K	10x	as long as short
Phoenix VVVlong	+0.0182%	1h	30.844	long leg	$32K	$257K	5x
Backpack VVV_USDC_PERP	+0.0199%	1h	30.783	−0.196%	$122K	$249K	5x	as long as short
GMX VVV/USD [ETH-USDC]	L +0.0426% / S −0.0174%	1h	30.729	−0.374%	$538K	—	100x	as long as short