Funding arb · Price arb /

VVV

all VVV markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 20:00 UTC−0.0074%/8h= −8.1% APRpaid last 24h −0.057%

Price spread now: Variational Omni against Phoenix+0.133%54s7-day average −0.078% · you sell dearer than you buy

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

Long on Phoenix Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.212%−$21 on $10k

Price spread, last 3 days (all we have)−0.242%−$24 · spread now +0.133%, 7d avg −0.078%

Together, before fees−0.454%+ Points / potential airdropVariational Omni: Active · farm board−$45 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Variational Omni is 0.210% dearer against Phoenix than usual: you sell high and buy low (spread +0.133% now, against its 7-day average of −0.078%): +$21 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 9.4 days. At the pace of the last 3 days (−0.212% in total) that is about 3.2 days. The two prices were read 54 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	31.179	0.0174	pay 0.0022% / 1h	54m 26s	$55K	$292K	5x
Short	Variational Omni VVV	31.220	0.0100	get 0.0050% / 4h	2h 54m	$2.1M	$184K	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni 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 Variational OmnibpOrdersPrice spread, now +0.133%Rate

Funding earned: −$15.59
Price spread: +0.133% → −0.078%: $21.03
Slippage, 4 orders: no order book: not counted
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$1.56
Costs to cover: 0.070%
Break-even: from the start

Slippage unknown: Phoenix: live order book, 30 min ago; Variational Omni: RFQ quote, 5 min ago. 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, 30 min ago	2.87 bp	19.9 bp −$20	65.5 bp −$655	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, 5 min ago	2.87 bp	doesn't fit	67.8 bp −$678	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
01 Exchange VVVUSD	−0.0208%	1h	31.200	+0.067%	$11K	$3K	3x	as long as short
Kalshi KXVVVPERP	0.0000%	8h	31.254	+0.241%	$104K	$6.9M	1.7x	as long as short
Deribit VVV_USDC-PERPETUAL	0.0000%	1h	31.304	+0.401%	$90K	$22K	10x	as long as short
gTrade (Gains Network) VVV/USD	L +0.0004% / S −0.0004%	1h	31.287	+0.347%	$18K	—	150x	as long as short
Injective VVV/USDC PERP	+0.0033%	1h	32.820	+5.263%	$2K	$1K	5.5x	as long as short
BloFin VVV-USDT	+0.0043%	4h	31.306	+0.407%	$1.3M	$1.7M	25x	as long as short
RISEx VVV/USDC	+0.0078%	1h	31.200	+0.069%	$381K	$573K	5x	as long as short
Lighter VVV	+0.0096%	1h	31.258	+0.254%	$2.1M	$5.4M	5x	as long as short
Lighter RH VVV	+0.0096%	1h	31.226	+0.151%	$460K	$1.6M	5x	as long as short
Nado VVV-PERP	+0.0100%	1h	31.202	+0.075%	$144K	$778K	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	31.239	+0.192%	$71.2M	$54.0M	3x	as long as short
Aster VVVUSDT	+0.0100%	4h	31.265	+0.276%	$275K	$1.8M	10x	as long as short
Pacifica VVV	+0.0100%	1h	31.246	+0.216%	$186K	$176K	10x	as long as short
Binance VVVUSDT	+0.0100%	4h	31.234	+0.175%	$33.0M	$154.3M	25x	as long as short
Bybit VVVUSDT	+0.0100%	4h	31.202	+0.073%	$38.5M	$51.6M	20x	as long as short
OKX VVV-USDT-SWAP	+0.0100%	4h	31.213	+0.109%	$4.6M	$40.6M	20x	as long as short
Gate VVV_USDT	+0.0100%	4h	31.209	+0.096%	$10.6M	$7.6M	25x	as long as short
MEXC VVV_USDT	+0.0100%	4h	31.245	+0.212%	$16.8M	$6.9M	50x	as long as short
KuCoin VVVUSDTM	+0.0100%	4h	31.261	+0.263%	$2.3M	$2.6M	20x	as long as short
Bitget VVVUSDT	+0.0100%	4h	31.232	+0.170%	$5.7M	$8.6M	20x	as long as short
BingX VVV-USDT	+0.0100%	4h	31.209	+0.096%	—	$5.4M	—	as long as short
Variational Omni VVVshort	+0.0100%	4h	31.220	+0.133%	$2.1M	$184K	—
Polymarket Perps VVV-USD	+0.0100%	1h	31.185	+0.019%	$132K	$1.2M	3x	as long as short
Derive VVV-PERP	+0.0100%	1h	31.305	+0.403%	$1K	$1K	5x	as long as short
Phemex VVVUSDT	+0.0100%	4h	31.270	+0.292%	$2.1M	$2.0M	50x	as long as short
Paradex VVV-USD-PERP	+0.0100%	8h	31.258	+0.252%	$3K	$106	5x	as long as short
Extended VVV-USD	+0.0104%	1h	31.194	+0.049%	$312K	$1.6M	5x	as long as short
Aevo VVV-PERP	+0.0104%	1h	31.281	+0.326%	$6K	$13K	3x	as long as short
edgeX VVVUSDC	+0.0108%	4h	31.201	+0.070%	$78K	$329K	10x	as long as short
Phoenix VVVlong	+0.0174%	1h	31.179	long leg	$55K	$292K	5x
Backpack VVV_USDC_PERP	+0.0228%	1h	31.328	+0.478%	$118K	$380K	5x	as long as short
Coinbase International VVV-PERP-INTX	+0.0232%	1h	31.124	−0.176%	$178K	$1.2M	25x	as long as short
GMX VVV/USD [ETH-USDC]	L +0.0441% / S −0.0204%	1h	31.289	+0.353%	$522K	—	100x	as long as short