Funding arb · Price arb /

VVV

all VVV markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.027%

Price spread now: Phemex against BingX−0.074%7-day average +0.021% · you buy dearer than you sell

Net, funding: paid 7d − costs−$118as in the Funding arb table

Net, price: spread back to 7d avg − costs−$122as in the Price arb table

costs, in and out, $10k−$1121.122% of the position

Long on BingX Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days−0.060%−$6 on $10k

Price spread, last 3 days (all we have)+0.028%+$3 · spread now −0.074%, 7d avg +0.021%

Together, before fees−0.033%−$3 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: Phemex is 0.096% cheaper against BingX than usual: you would sell low and buy high, −$10 on $10k if it goes back to its 7-day average of +0.021%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX VVV-USDT	32.223	0.0100	pay 0.0050% / 4h	1h 06m	—	$5.5M	—
Short	Phemex VVVUSDT	32.199	0.0100	get 0.0050% / 4h	1h 06m	$2.1M	$2.1M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against BingX. 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 BingXbpFee PhemexbpOrdersPrice spread, now −0.074%Rate

Funding earned: $0
Price spread: −0.074% → +0.021%: −$9.58
Slippage, 4 orders: −$90.19
Fee BingX: 5 bp × 2 orders: −$10
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$121.77
Costs to cover: 1.122%
Break-even: never at this rate

Slippage from BingX: live order book, 8 min ago; Phemex: live order book, 2 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 BingX live order book, 8 min ago	0.62 bp	10.7 bp −$11	32.5 bp −$325	287.2 bp −$28.7K	705.4 bp −$352.7K
Sell Phemex live order book, 2 min ago	2.80 bp	40.8 bp −$41	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
Deribit VVV_USDC-PERPETUAL	0.0000%	1h	32.195	−0.088%	$91K	$23K	10x	as long as short
gTrade (Gains Network) VVV/USD	L +0.0004% / S −0.0004%	1h	32.191	−0.098%	$19K	—	150x	as long as short
Injective VVV/USDC PERP	+0.0033%	1h	32.820	+1.853%	$2K	$1K	5.5x	as long as short
BloFin VVV-USDT	+0.0083%	4h	32.207	−0.050%	$1.3M	$1.8M	25x	as long as short
Lighter VVV	+0.0096%	1h	32.243	+0.063%	$2.3M	$5.5M	5x	as long as short
Lighter RH VVV	+0.0096%	1h	32.208	−0.047%	$479K	$1.6M	5x	as long as short
Phoenix VVV	+0.0098%	1h	32.243	+0.062%	$56K	$294K	5x	as long as short
Nado VVV-PERP	+0.0100%	1h	32.179	−0.137%	$149K	$783K	3x	as long as short
Aster VVVUSDT	+0.0100%	4h	32.208	−0.048%	$265K	$1.9M	10x	as long as short
Pacifica VVV	+0.0100%	1h	32.238	+0.048%	$193K	$191K	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	32.225	+0.006%	$33.7M	$157.4M	25x	as long as short
Bybit VVVUSDT	+0.0100%	4h	32.227	+0.014%	$39.6M	$52.8M	20x	as long as short
OKX VVV-USDT-SWAP	+0.0100%	4h	32.204	−0.059%	$4.7M	$42.8M	20x	as long as short
Gate VVV_USDT	+0.0100%	4h	32.199	−0.074%	$10.8M	$7.8M	25x	as long as short
MEXC VVV_USDT	+0.0100%	4h	32.231	+0.025%	$6.3M	$7.1M	50x	as long as short
KuCoin VVVUSDTM	+0.0100%	4h	32.186	−0.115%	$2.0M	$2.9M	20x	as long as short
Bitget VVVUSDT	+0.0100%	4h	32.220	−0.009%	$5.9M	$8.9M	20x	as long as short
BingX VVV-USDTlong	+0.0100%	4h	32.223	long leg	—	$5.5M	—
Variational Omni VVV	+0.0100%	4h	32.187	−0.113%	$2.1M	$183K	—	as long as short
Polymarket Perps VVV-USD	+0.0100%	1h	32.172	−0.158%	$145K	$1.2M	3x	as long as short
Derive VVV-PERP	+0.0100%	1h	32.199	−0.075%	$1K	$1K	5x	as long as short
Phemex VVVUSDTshort	+0.0100%	4h	32.199	−0.074%	$2.1M	$2.1M	50x
Paradex VVV-USD-PERP	+0.0100%	8h	32.233	+0.032%	$3K	$106	5x	as long as short
Kalshi KXVVVPERP	+0.0101%	8h	32.205	−0.056%	$108K	$6.9M	1.7x	as long as short
Extended VVV-USD	+0.0104%	1h	32.203	−0.062%	$323K	$1.6M	5x	as long as short
Aevo VVV-PERP	+0.0104%	1h	32.187	−0.112%	$6K	$13K	3x	as long as short
edgeX VVVUSDC	+0.0119%	4h	32.198	−0.078%	$80K	$332K	10x	as long as short
Coinbase International VVV-PERP-INTX	+0.0144%	1h	32.218	−0.014%	$238K	$1.3M	25x	as long as short
RISEx VVV/USDC	+0.0175%	1h	32.217	−0.017%	$396K	$607K	5x	as long as short
GMX VVV/USD [ETH-USDC]	L +0.0185% / S +0.0168%	1h	32.186	−0.114%	$619K	—	100x	as long as short
Backpack VVV_USDC_PERP	+0.0221%	1h	32.239	+0.048%	$122K	$365K	5x	as long as short
Hyperliquid VVV	+0.0229%	1h	32.247	+0.074%	$74.8M	$55.8M	3x	as long as short
01 Exchange VVVUSD	+0.0296%	1h	32.168	−0.171%	$11K	$3K	3x	as long as short