Funding arb · Price arb /

VVV

all VVV markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 21:00 UTC−0.0132%/8h= −14.5% APRpaid last 24h +0.002%

Price spread now: Bybit against Coinbase International−0.203%7-day average −0.054% · you buy dearer than you sell

Net, funding: paid 7d − costs−$132as in the Funding arb table

Net, price: spread back to 7d avg − costs−$131as in the Price arb table

costs, in and out, $10k−$1161.162% of the position

Long on Coinbase International Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.161%−$16 on $10k

Price spread, last 3 days (all we have)+0.240%+$24 · spread now −0.203%, 7d avg −0.054%

Together, before fees+0.079%+$8 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$4 a day on $10k at the current rate, and Bybit is 0.149% cheaper against Coinbase International than usual: you would sell low and buy high (−$15 if the spread goes back to its 7-day average of −0.054%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International VVV-PERP-INTX	32.462	0.0232	pay 0.0029% / 1h	7m 43s	$216K	$1.3M	25x
Short	Bybit VVVUSDT	32.396	0.0100	get 0.0050% / 4h	2h 07m	$39.9M	$52.2M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Coinbase International. 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 Coinbase InternationalbpFee BybitbpOrdersPrice spread, now −0.203%Rate

Funding earned: −$27.72
Price spread: −0.203% → −0.054%: −$14.86
Slippage, 4 orders: −$95.23
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$158.81
Costs to cover: 1.162%
Break-even: never at this rate

Slippage from Coinbase International: live order book, 1 min ago; Bybit: live order book, 1 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 Coinbase International live order book, 1 min ago	21.98 bp	27.0 bp −$27	27.0 bp −$270	doesn't fit	doesn't fit
Sell Bybit live order book, 1 min ago	0.16 bp	21.1 bp −$21	74.1 bp −$741	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
Kalshi KXVVVPERP	0.0000%	8h	32.388	−0.228%	$114K	$6.8M	1.7x	as long as short
Deribit VVV_USDC-PERPETUAL	0.0000%	1h	32.354	−0.333%	$93K	$22K	10x	as long as short
gTrade (Gains Network) VVV/USD	L +0.0004% / S −0.0004%	1h	32.351	−0.342%	$19K	—	150x	as long as short
Injective VVV/USDC PERP	+0.0033%	1h	32.820	+1.103%	$2K	$1K	5.5x	as long as short
BloFin VVV-USDT	+0.0059%	4h	32.362	−0.308%	$1.3M	$1.8M	25x	as long as short
Phoenix VVV	+0.0077%	1h	32.248	−0.660%	$56K	$292K	5x	as long as short
RISEx VVV/USDC	+0.0078%	1h	32.461	−0.004%	$414K	$576K	5x	as long as short
Lighter VVV	+0.0096%	1h	32.426	−0.112%	$2.2M	$5.4M	5x	as long as short
Lighter RH VVV	+0.0096%	1h	32.409	−0.164%	$484K	$1.6M	5x	as long as short
Nado VVV-PERP	+0.0100%	1h	32.361	−0.311%	$149K	$781K	3x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster VVVUSDT	+0.0100%	4h	32.366	−0.296%	$277K	$1.8M	10x	as long as short
Pacifica VVV	+0.0100%	1h	32.424	−0.117%	$193K	$176K	10x	as long as short
Binance VVVUSDT	+0.0100%	4h	32.423	−0.121%	$34.3M	$155.4M	25x	as long as short
Bybit VVVUSDTshort	+0.0100%	4h	32.396	−0.203%	$39.9M	$52.2M	20x
OKX VVV-USDT-SWAP	+0.0100%	4h	32.412	−0.154%	$4.8M	$42.5M	20x	as long as short
Gate VVV_USDT	+0.0100%	4h	32.401	−0.188%	$11.0M	$7.8M	25x	as long as short
MEXC VVV_USDT	+0.0100%	4h	32.430	−0.099%	$17.4M	$7.0M	50x	as long as short
KuCoin VVVUSDTM	+0.0100%	4h	32.384	−0.241%	$2.1M	$2.8M	20x	as long as short
Bitget VVVUSDT	+0.0100%	4h	32.416	−0.142%	$5.9M	$8.8M	20x	as long as short
BingX VVV-USDT	+0.0100%	4h	32.426	−0.111%	—	$5.4M	—	as long as short
Variational Omni VVV	+0.0100%	4h	32.319	−0.440%	$2.1M	$180K	—	as long as short
Polymarket Perps VVV-USD	+0.0100%	1h	32.342	−0.370%	$156K	$1.2M	3x	as long as short
Derive VVV-PERP	+0.0100%	1h	32.348	−0.353%	$1K	$1K	5x	as long as short
Phemex VVVUSDT	+0.0100%	4h	32.334	−0.395%	$2.1M	$2.0M	50x	as long as short
Paradex VVV-USD-PERP	+0.0100%	8h	32.423	−0.122%	$3K	$106	5x	as long as short
Extended VVV-USD	+0.0104%	1h	32.421	−0.126%	$319K	$1.6M	5x	as long as short
Aevo VVV-PERP	+0.0104%	1h	32.369	−0.286%	$7K	$13K	3x	as long as short
edgeX VVVUSDC	+0.0115%	4h	32.393	−0.214%	$80K	$330K	10x	as long as short
01 Exchange VVVUSD	+0.0160%	1h	32.419	−0.133%	$12K	$3K	3x	as long as short
GMX VVV/USD [ETH-USDC]	L +0.0191% / S +0.0095%	1h	32.336	−0.388%	$565K	—	100x	as long as short
Coinbase International VVV-PERP-INTXlong	+0.0232%	1h	32.462	long leg	$216K	$1.3M	25x
Hyperliquid VVV	+0.0244%	1h	32.463	+0.003%	$75.1M	$55.1M	3x	as long as short
Backpack VVV_USDC_PERP	+0.0343%	1h	32.431	−0.096%	$123K	$379K	5x	as long as short