Funding arb · Price arb /

VVV

all VVV markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0103%/8h= +11.2% APRpaid last 24h +0.034%

Price spread now: Phoenix against Variational Omni+0.455%69s7-day average +0.084% · you sell dearer than you buy

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

Long on Variational Omni Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.218%+$22 on $10k

Price spread, last 4 days (all we have)+0.151%+$15 · spread now +0.455%, 7d avg +0.084%

Together, before fees+0.369%+ Points / potential airdropVariational Omni: Active · farm board+$37 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 Phoenix is 0.371% dearer against Variational Omni than usual: you sell high and buy low: +$37 more if the spread goes back to its 7-day average of +0.084%. The two prices were read 69 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	Variational Omni VVV	31.470	0.0100	pay 0.0050% / 4h	24m 05s	$2.0M	$356K	—
Short	Phoenix VVV	31.613	0.0203	get 0.0025% / 1h	24m 05s	$33K	$215K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix against Variational Omni. 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 Variational OmnibpFee PhoenixbpOrdersPrice spread, now +0.455%Rate

Funding earned: $21.54
Price spread: +0.455% → +0.084%: $37.13
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: $51.67
Costs to cover: 0.070%
Break-even: from the start

Slippage unknown: Variational Omni: RFQ quote, 5 min ago; Phoenix: live order book, 11 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 Variational Omni RFQ quote, 5 min ago	2.87 bp	doesn't fit	41.3 bp −$413	doesn't fit	doesn't fit
Sell Phoenix live order book, 11 min ago	2.84 bp	19.7 bp −$20	57.3 bp −$573	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
RISEx VVV/USDC	−0.0337%	1h	31.458	−0.038%	$386K	$663K	5x	as long as short
Coinbase International VVV-PERP-INTX	−0.0040%	1h	31.468	−0.006%	$187K	$1.3M	25x	as long as short
Kalshi KXVVVPERP	0.0000%	8h	31.504	+0.109%	$96K	$5.4M	1.7x	as long as short
Deribit VVV_USDC-PERPETUAL	0.0000%	1h	31.487	+0.054%	$88K	$22K	10x	as long as short
gTrade (Gains Network) VVV/USD	L +0.0004% / S −0.0004%	1h	31.501	+0.099%	$19K	—	150x	as long as short
Injective VVV/USDC PERP	+0.0033%	1h	32.820	+4.291%	$2K	$1K	5.5x	as long as short
Gate VVV_USDT	+0.0056%	4h	31.448	−0.069%	$11.6M	$5.2M	25x	as long as short
BloFin VVV-USDT	+0.0082%	4h	31.494	+0.077%	$1.4M	$1.4M	25x	as long as short
Polymarket Perps VVV-USD	+0.0091%	1h	31.466	−0.012%	$122K	$1.4M	3x	as long as short
Lighter VVV	+0.0096%	1h	31.455	−0.047%	$1.9M	$4.2M	5x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter RH VVV	+0.0096%	1h	31.460	−0.031%	$463K	$1.6M	5x	as long as short
Paradex VVV-USD-PERP	+0.0100%	8h	31.471	+0.005%	$3K	$73	5x	as long as short
Nado VVV-PERP	+0.0100%	1h	31.475	+0.018%	$161K	$950K	3x	as long as short
Hyperliquid VVV	+0.0100%	1h	31.521	+0.163%	$70.5M	$44.4M	3x	as long as short
Aster VVVUSDT	+0.0100%	4h	31.489	+0.063%	$249K	$639K	10x	as long as short
Pacifica VVV	+0.0100%	1h	31.479	+0.031%	$185K	$124K	10x	as long as short
Binance VVVUSDT	+0.0100%	4h	31.487	+0.054%	$33.6M	$113.5M	25x	as long as short
Bybit VVVUSDT	+0.0100%	4h	31.452	−0.056%	$38.2M	$40.0M	20x	as long as short
OKX VVV-USDT-SWAP	+0.0100%	4h	31.476	+0.020%	$4.8M	$28.2M	20x	as long as short
MEXC VVV_USDT	+0.0100%	4h	31.485	+0.049%	$6.9M	$5.4M	50x	as long as short
KuCoin VVVUSDTM	+0.0100%	4h	31.487	+0.055%	$1.7M	$2.7M	20x	as long as short
Bitget VVVUSDT	+0.0100%	4h	31.456	−0.043%	$5.7M	$6.6M	20x	as long as short
BingX VVV-USDT	+0.0100%	4h	31.488	+0.058%	—	$4.7M	—	as long as short
Variational Omni VVVlong	+0.0100%	4h	31.470	long leg	$2.0M	$356K	—
Derive VVV-PERP	+0.0100%	1h	31.475	+0.018%	$3K	$3K	5x	as long as short
Phemex VVVUSDT	+0.0100%	4h	31.479	+0.030%	$2.0M	$2.1M	50x	as long as short
Extended VVV-USD	+0.0104%	1h	31.480	+0.033%	$299K	$1.9M	5x	as long as short
Aevo VVV-PERP	+0.0104%	1h	31.495	+0.079%	$6K	—	3x	as long as short
edgeX VVVUSDC	+0.0114%	4h	31.644	+0.555%	$79K	$329K	10x	as long as short
01 Exchange VVVUSD	+0.0128%	1h	31.483	+0.042%	$11K	$2K	3x	as long as short
Phoenix VVVshort	+0.0203%	1h	31.613	+0.455%	$33K	$215K	5x
Backpack VVV_USDC_PERP	+0.0358%	1h	31.502	+0.102%	$160K	$276K	5x	as long as short
GMX VVV/USD [ETH-USDC]	L +0.0440% / S −0.0212%	1h	31.483	+0.044%	$506K	—	100x	as long as short