Funding arb · Price arb /

VVV

all VVV markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0130%/8h= −14.2% APRpaid last 24h +0.013%

Price spread now: Phoenix against BloFin+0.050%7-day average −0.038% · you sell dearer than you buy

Net, funding: paid 7d − costs−$52as in the Funding arb table

Net, price: spread back to 7d avg − costs−$60as in the Price arb table

costs, in and out, $10k−$690.689% of the position

Long on BloFin Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 7 days+0.164%+$16 on $10k

Price spread, last 3 days (all we have)−0.293%−$29 · spread now +0.050%, 7d avg −0.038%

Together, before fees−0.130%−$13 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Phoenix is 0.088% dearer against BloFin than usual: you sell high and buy low (spread +0.050% now, against its 7-day average of −0.038%): +$9 on $10k if it goes back. Holding the pair costs −$4 a day in funding at the current rate, which eats that in about 2.3 days. Mind the row above: over the last 7 days funding on this pair paid +0.164%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin VVV-USDT	32.012	0.0130	pay 0.0065% / 4h	3h 26m	$1.3M	$1.8M	25x
Short	Phoenix VVV	32.028	0	get 0.0000% / 1h	26m 34s	$56K	$298K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix against BloFin. 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 BloFinbpFee PhoenixbpOrdersPrice spread, now +0.050%Rate

Funding earned: −$27.22
Price spread: +0.050% → −0.038%: $8.76
Slippage, 4 orders: −$49.86
Fee BloFin: 6 bp × 2 orders: −$12
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: −$87.33
Costs to cover: 0.689%
Break-even: never at this rate

Slippage from BloFin: live order book, 1 min ago; Phoenix: live order book, 44 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 BloFin live order book, 1 min ago	0.62 bp	14.1 bp −$14	26.5 bp −$265	doesn't fit	doesn't fit
Sell Phoenix live order book, 44 min ago	3.13 bp	19.8 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
Polymarket Perps VVV-USD	−0.0284%	1h	32.011	−0.003%	$146K	$1.2M	3x	as long as short
01 Exchange VVVUSD	−0.0064%	1h	32.071	+0.184%	$11K	$3K	3x	as long as short
Deribit VVV_USDC-PERPETUAL	−0.0053%	1h	32.022	+0.032%	$91K	$23K	10x	as long as short
RISEx VVV/USDC	−0.0015%	1h	32.088	+0.238%	$395K	$601K	5x	as long as short
Kalshi KXVVVPERP	0.0000%	8h	32.060	+0.150%	$109K	$6.5M	1.7x	as long as short
Phoenix VVVshort	0.0000%	1h	32.028	+0.050%	$56K	$298K	5x
gTrade (Gains Network) VVV/USD	L +0.0004% / S −0.0004%	1h	32.033	+0.067%	$19K	—	150x	as long as short
Injective VVV/USDC PERP	+0.0033%	1h	32.820	+2.524%	$2K	$1K	5.5x	as long as short
Gate VVV_USDT	+0.0048%	4h	32.078	+0.206%	$10.8M	$7.4M	25x	as long as short
Lighter VVV	+0.0096%	1h	32.112	+0.313%	$2.2M	$5.9M	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	32.057	+0.141%	$474K	$1.6M	5x	as long as short
Bybit VVVUSDT	+0.0100%	4h	32.092	+0.251%	$39.3M	$51.5M	20x	as long as short
Nado VVV-PERP	+0.0100%	1h	32.103	+0.286%	$126K	$850K	3x	as long as short
Hyperliquid VVV	+0.0100%	1h	32.057	+0.141%	$74.3M	$55.1M	3x	as long as short
Aster VVVUSDT	+0.0100%	4h	32.093	+0.254%	$262K	$1.9M	10x	as long as short
Pacifica VVV	+0.0100%	1h	32.122	+0.345%	$192K	$187K	10x	as long as short
Binance VVVUSDT	+0.0100%	4h	32.095	+0.259%	$33.7M	$154.2M	25x	as long as short
OKX VVV-USDT-SWAP	+0.0100%	4h	32.093	+0.253%	$4.7M	$41.7M	20x	as long as short
MEXC VVV_USDT	+0.0100%	4h	32.094	+0.256%	$6.5M	$7.0M	50x	as long as short
KuCoin VVVUSDTM	+0.0100%	4h	32.053	+0.128%	$2.0M	$2.8M	20x	as long as short
Bitget VVVUSDT	+0.0100%	4h	32.105	+0.291%	$5.8M	$8.9M	20x	as long as short
BingX VVV-USDT	+0.0100%	4h	32.095	+0.259%	—	$5.4M	—	as long as short
Backpack VVV_USDC_PERP	+0.0100%	1h	32.043	+0.097%	$124K	$331K	5x	as long as short
Variational Omni VVV	+0.0100%	4h	32.153	+0.439%	$2.1M	$188K	—	as long as short
Derive VVV-PERP	+0.0100%	1h	32.034	+0.069%	$3K	$2K	5x	as long as short
Phemex VVVUSDT	+0.0100%	4h	32.019	+0.022%	$2.1M	$2.1M	50x	as long as short
Paradex VVV-USD-PERP	+0.0100%	8h	32.098	+0.269%	$3K	$106	5x	as long as short
edgeX VVVUSDC	+0.0102%	4h	32.009	−0.009%	$80K	$333K	10x	as long as short
Extended VVV-USD	+0.0104%	1h	32.084	+0.226%	$306K	$2.0M	5x	as long as short
Aevo VVV-PERP	+0.0104%	1h	32.041	+0.090%	$6K	—	3x	as long as short
BloFin VVV-USDTlong	+0.0130%	4h	32.012	long leg	$1.3M	$1.8M	25x
GMX VVV/USD [ETH-USDC]	L +0.0178% / S +0.0121%	1h	32.031	+0.060%	$580K	—	100x	as long as short
Coinbase International VVV-PERP-INTX	+0.0320%	1h	32.219	+0.648%	$248K	$1.3M	25x	as long as short