Funding arb · Price arb /

VVV

all VVV markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0138%/8h= +15.1% APRpaid last 24h +0.004%

Price spread now: Phemex against Polymarket Perps−0.063%46s7-day average +0.053% · you buy dearer than you sell

Net, funding: paid 7d − costs−$101as 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−$1111.110% of the position

Long on Polymarket Perps Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days+0.098%+$10 on $10k

Price spread, last 3 days (all we have)+0.140%+$14 · spread now −0.063%, 7d avg +0.053%

Together, before fees+0.238%+$24 on $10k · with fees, hour by hour

Funding pays, the price is against you. Phemex is 0.115% cheaper against Polymarket Perps than usual: you would sell low and buy high (spread −0.063% now, against its 7-day average of +0.053%). If the spread goes back, that is −$12 on $10k: about 2.8 days of funding at the current rate (+$4 a day). At the pace of the last 7 days (+0.098% in total) that is about 8.2 days. The two prices were read 46 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	Polymarket Perps VVV-USD	31.976	−0.0038	get 0.0005% / 1h	0m 29s	$146K	$1.2M	3x
Short	Phemex VVVUSDT	31.956	0.0100	get 0.0050% / 4h	0m 29s	$2.1M	$2.1M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against Polymarket Perps. 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 Polymarket PerpsbpFee PhemexbpOrdersPrice spread, now −0.063%Rate

Funding earned: $28.96
Price spread: −0.063% → +0.053%: −$11.52
Slippage, 4 orders: −$90.95
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$93.51
Costs to cover: 1.110%
Break-even: 29.6 days

Slippage from Polymarket Perps: live order book, 3 min ago; Phemex: 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 Polymarket Perps live order book, 3 min ago	3.76 bp	7.8 bp −$8	8.0 bp −$80	doesn't fit	doesn't fit
Sell Phemex live order book, 3 min ago	1.72 bp	41.8 bp −$42	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
Polymarket Perps VVV-USDlong	−0.0038%	1h	31.976	long leg	$146K	$1.2M	3x
01 Exchange VVVUSD	0.0000%	1h	32.002	+0.081%	$11K	$3K	3x	as long as short
Kalshi KXVVVPERP	0.0000%	8h	31.967	−0.028%	$107K	$6.8M	1.7x	as long as short
Deribit VVV_USDC-PERPETUAL	0.0000%	1h	31.966	−0.030%	$91K	$23K	10x	as long as short
gTrade (Gains Network) VVV/USD	L +0.0004% / S −0.0004%	1h	31.992	+0.050%	$19K	—	150x	as long as short
Injective VVV/USDC PERP	+0.0033%	1h	32.820	+2.639%	$2K	$1K	5.5x	as long as short
RISEx VVV/USDC	+0.0040%	1h	31.995	+0.061%	$393K	$604K	5x	as long as short
Lighter VVV	+0.0096%	1h	31.991	+0.048%	$2.2M	$6.1M	5x	as long as short
Lighter RH VVV	+0.0096%	1h	31.996	+0.063%	$476K	$1.6M	5x	as long as short
Nado VVV-PERP	+0.0100%	1h	32.002	+0.083%	$126K	$850K	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	32.032	+0.175%	$74.3M	$55.3M	3x	as long as short
Aster VVVUSDT	+0.0100%	4h	31.992	+0.051%	$261K	$1.9M	10x	as long as short
Pacifica VVV	+0.0100%	1h	32.011	+0.108%	$191K	$191K	10x	as long as short
Binance VVVUSDT	+0.0100%	4h	31.994	+0.056%	$33.5M	$155.8M	25x	as long as short
Bybit VVVUSDT	+0.0100%	4h	31.999	+0.071%	$39.3M	$51.8M	20x	as long as short
OKX VVV-USDT-SWAP	+0.0100%	4h	31.989	+0.041%	$4.7M	$42.0M	20x	as long as short
Gate VVV_USDT	+0.0100%	4h	31.996	+0.063%	$10.8M	$7.6M	25x	as long as short
MEXC VVV_USDT	+0.0100%	4h	32.008	+0.100%	$6.5M	$7.1M	50x	as long as short
KuCoin VVVUSDTM	+0.0100%	4h	31.988	+0.038%	$2.0M	$2.8M	20x	as long as short
Bitget VVVUSDT	+0.0100%	4h	31.985	+0.028%	$5.8M	$8.9M	20x	as long as short
BingX VVV-USDT	+0.0100%	4h	32.009	+0.103%	—	$5.5M	—	as long as short
Variational Omni VVV	+0.0100%	4h	31.952	−0.074%	$2.1M	$183K	—	as long as short
Derive VVV-PERP	+0.0100%	1h	31.967	−0.027%	$2K	$2K	5x	as long as short
Phemex VVVUSDTshort	+0.0100%	4h	31.956	−0.063%	$2.1M	$2.1M	50x
Paradex VVV-USD-PERP	+0.0100%	8h	32.009	+0.104%	$3K	$106	5x	as long as short
edgeX VVVUSDC	+0.0103%	4h	31.961	−0.048%	$79K	$335K	10x	as long as short
Extended VVV-USD	+0.0104%	1h	31.998	+0.070%	$303K	$1.6M	5x	as long as short
Aevo VVV-PERP	+0.0104%	1h	31.954	−0.068%	$6K	$13K	3x	as long as short
Phoenix VVV	+0.0124%	1h	31.948	−0.088%	$56K	$299K	5x	as long as short
BloFin VVV-USDT	+0.0126%	4h	31.982	+0.019%	$1.3M	$1.8M	25x	as long as short
Backpack VVV_USDC_PERP	+0.0131%	1h	32.010	+0.106%	$124K	$345K	5x	as long as short
GMX VVV/USD [ETH-USDC]	L +0.0179% / S +0.0120%	1h	31.995	+0.059%	$579K	—	100x	as long as short
Coinbase International VVV-PERP-INTX	+0.0192%	1h	32.278	+0.944%	$242K	$1.3M	25x	as long as short