Funding arb · Price arb /

VVV

all VVV markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0109%/8h= +11.9% APRpaid last 24h +0.042%

Price spread now: Phoenix against Gate+0.425%92s7-day average +0.111% · you sell dearer than you buy

Net, funding: paid 7d − costs−$47as 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−$910.908% of the position

Long on Gate Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 7 days+0.442%+$44 on $10k

Price spread, last 4 days (all we have)−0.486%−$49 · spread now +0.425%, 7d avg +0.111%

Together, before fees−0.045%−$4 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 0.314% dearer against Gate than usual: you sell high and buy low: +$31 more if the spread goes back to its 7-day average of +0.111%. The two prices were read 92 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	Gate VVV_USDT	31.260	0.0100	pay 0.0050% / 4h	1h 57m	$11.1M	$5.4M	25x
Short	Phoenix VVV	31.393	0.0209	get 0.0026% / 1h	57m 46s	$33K	$231K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix against Gate. 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 GatebpFee PhoenixbpOrdersPrice spread, now +0.425%Rate

Funding earned: $22.8
Price spread: +0.425% → +0.111%: $31.4
Slippage, 4 orders: −$68.85
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: −$36.64
Costs to cover: 0.908%
Break-even: 18.2 days

Slippage from Gate: live order book, 1 min ago; Phoenix: live order book, 47 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 Gate live order book, 1 min ago	5.76 bp	25.7 bp −$26	570.6 bp −$5,706	doesn't fit	doesn't fit
Sell Phoenix live order book, 47 min ago	2.94 bp	19.8 bp −$20	57.5 bp −$575	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
Coinbase International VVV-PERP-INTX	−0.0088%	1h	31.334	+0.236%	$191K	$1.3M	25x	as long as short
RISEx VVV/USDC	−0.0085%	1h	31.270	+0.033%	$384K	$648K	5x	as long as short
Deribit VVV_USDC-PERPETUAL	0.0000%	1h	31.257	−0.011%	$87K	$22K	10x	as long as short
gTrade (Gains Network) VVV/USD	L +0.0004% / S −0.0002%	1h	31.259	−0.004%	$22K	—	150x	as long as short
Injective VVV/USDC PERP	+0.0033%	1h	32.820	+4.990%	$2K	$1K	5.5x	as long as short
01 Exchange VVVUSD	+0.0048%	1h	31.292	+0.102%	$11K	$3K	3x	as long as short
Lighter VVV	+0.0096%	1h	31.211	−0.157%	$2.0M	$4.5M	5x	as long as short
Lighter RH VVV	+0.0096%	1h	31.208	−0.166%	$458K	$1.6M	5x	as long as short
Paradex VVV-USD-PERP	+0.0100%	8h	31.282	+0.070%	$3K	$73	5x	as long as short
Nado VVV-PERP	+0.0100%	1h	31.303	+0.139%	$162K	$898K	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	31.291	+0.099%	$70.4M	$48.0M	3x	as long as short
Aster VVVUSDT	+0.0100%	4h	31.280	+0.064%	$249K	$1.0M	10x	as long as short
Pacifica VVV	+0.0100%	1h	31.306	+0.147%	$185K	$128K	10x	as long as short
Binance VVVUSDT	+0.0100%	4h	31.234	−0.083%	$33.7M	$121.4M	25x	as long as short
Bybit VVVUSDT	+0.0100%	4h	31.239	−0.067%	$38.5M	$41.5M	20x	as long as short
OKX VVV-USDT-SWAP	+0.0100%	4h	31.255	−0.016%	$4.9M	$31.0M	20x	as long as short
Gate VVV_USDTlong	+0.0100%	4h	31.260	long leg	$11.1M	$5.4M	25x
MEXC VVV_USDT	+0.0100%	4h	31.285	+0.080%	$6.6M	$5.6M	50x	as long as short
KuCoin VVVUSDTM	+0.0100%	4h	31.284	+0.077%	$1.8M	$2.8M	20x	as long as short
Bitget VVVUSDT	+0.0100%	4h	31.241	−0.061%	$5.8M	$7.1M	20x	as long as short
BingX VVV-USDT	+0.0100%	4h	31.277	+0.054%	—	$4.9M	—	as long as short
Variational Omni VVV	+0.0100%	4h	31.291	+0.100%	$2.0M	$355K	—	as long as short
Polymarket Perps VVV-USD	+0.0100%	1h	31.262	+0.006%	$121K	$1.4M	3x	as long as short
Derive VVV-PERP	+0.0100%	1h	31.253	−0.022%	$3K	$3K	5x	as long as short
Phemex VVVUSDT	+0.0100%	4h	31.267	+0.022%	$2.0M	$2.1M	50x	as long as short
Extended VVV-USD	+0.0104%	1h	31.269	+0.030%	$298K	$2.2M	5x	as long as short
Aevo VVV-PERP	+0.0104%	1h	31.271	+0.035%	$6K	—	3x	as long as short
BloFin VVV-USDT	+0.0118%	4h	31.271	+0.035%	$1.3M	$1.5M	25x	as long as short
edgeX VVVUSDC	+0.0118%	4h	31.345	+0.271%	$78K	$333K	10x	as long as short
Kalshi KXVVVPERP	+0.0122%	8h	31.290	+0.096%	$96K	$5.5M	1.7x	as long as short
Phoenix VVVshort	+0.0209%	1h	31.393	+0.425%	$33K	$231K	5x
GMX VVV/USD [ETH-USDC]	L +0.0425% / S −0.0199%	1h	31.246	−0.045%	$500K	—	100x	as long as short
Backpack VVV_USDC_PERP	+0.0519%	1h	31.298	+0.121%	$149K	$264K	5x	as long as short