Funding arb · Price arb /

VVV

all VVV markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h −0.017%

Price spread now: Phemex against Lighter RH+0.025%7-day average −0.048% · you sell dearer than you buy

Net, funding: paid 7d − costs−$160as in the Funding arb table

Net, price: spread back to 7d avg − costs−$100as in the Price arb table

costs, in and out, $10k−$1071.074% of the position

Long on Lighter RH Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days−0.528%−$53 on $10k

Price spread, last 4 days (all we have)+0.019%+$2 · spread now +0.025%, 7d avg −0.048%

Together, before fees−0.509%+ Points / potential airdropLighter RH: Points live · farm board−$51 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 0.074% dearer against Lighter RH than usual: you sell high and buy low, +$7 on $10k if it goes back to its 7-day average of −0.048%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter RH VVV	31.461	0.0096	pay 0.0012% / 1h	56m 11s	$463K	$1.6M	5x
Short	Phemex VVVUSDT	31.469	0.0100	get 0.0050% / 4h	56m 11s	$2.0M	$2.1M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against Lighter RH. 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 Lighter RHbpFee PhemexbpOrdersPrice spread, now +0.025%Rate

Funding earned: $0.84
Price spread: +0.025% → −0.048%: $7.37
Slippage, 4 orders: −$95.35
Fee Lighter RH: 0 bp × 2 orders: $0
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$99.14
Costs to cover: 1.074%
Break-even: 833.2 days

Slippage from Lighter RH: live order book, 2 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 Lighter RH live order book, 2 min ago	0.64 bp	4.5 bp −$5	15.4 bp −$154	doesn't fit	doesn't fit
Sell Phemex live order book, 2 min ago	0.47 bp	58.3 bp −$58	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
RISEx VVV/USDC	−0.0337%	1h	31.455	−0.020%	$386K	$654K	5x	as long as short
Coinbase International VVV-PERP-INTX	−0.0040%	1h	31.454	−0.023%	$187K	$1.3M	25x	as long as short
Deribit VVV_USDC-PERPETUAL	−0.0014%	1h	31.450	−0.036%	$87K	$22K	10x	as long as short
Kalshi KXVVVPERP	0.0000%	8h	31.483	+0.070%	$91K	$5.4M	1.7x	as long as short
gTrade (Gains Network) VVV/USD	L +0.0004% / S −0.0004%	1h	31.456	−0.016%	$19K	—	150x	as long as short
Injective VVV/USDC PERP	+0.0033%	1h	32.820	+4.320%	$2K	$1K	5.5x	as long as short
BloFin VVV-USDT	+0.0082%	4h	31.449	−0.038%	$1.4M	$1.5M	25x	as long as short
Lighter VVV	+0.0096%	1h	31.451	−0.031%	$2.0M	$4.2M	5x	as long as short
Lighter RH VVVlong	+0.0096%	1h	31.461	long leg	$463K	$1.6M	5x
Paradex VVV-USD-PERP	+0.0100%	8h	31.472	+0.035%	$3K	$73	5x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado VVV-PERP	+0.0100%	1h	31.473	+0.037%	$141K	$925K	3x	as long as short
Hyperliquid VVV	+0.0100%	1h	31.489	+0.089%	$70.5M	$46.1M	3x	as long as short
Aster VVVUSDT	+0.0100%	4h	31.465	+0.012%	$249K	$761K	10x	as long as short
Pacifica VVV	+0.0100%	1h	31.474	+0.040%	$186K	$125K	10x	as long as short
Binance VVVUSDT	+0.0100%	4h	31.476	+0.048%	$33.8M	$116.7M	25x	as long as short
Bybit VVVUSDT	+0.0100%	4h	31.453	−0.025%	$38.4M	$40.6M	20x	as long as short
OKX VVV-USDT-SWAP	+0.0100%	4h	31.454	−0.022%	$4.8M	$29.3M	20x	as long as short
Gate VVV_USDT	+0.0100%	4h	31.443	−0.057%	$11.5M	$5.2M	25x	as long as short
MEXC VVV_USDT	+0.0100%	4h	31.477	+0.051%	$6.9M	$5.3M	50x	as long as short
KuCoin VVVUSDTM	+0.0100%	4h	31.445	−0.051%	$1.7M	$2.7M	20x	as long as short
Bitget VVVUSDT	+0.0100%	4h	31.445	−0.051%	$5.7M	$6.8M	20x	as long as short
BingX VVV-USDT	+0.0100%	4h	31.475	+0.044%	—	$4.7M	—	as long as short
Variational Omni VVV	+0.0100%	4h	31.531	+0.222%	$2.0M	$354K	—	as long as short
Polymarket Perps VVV-USD	+0.0100%	1h	31.456	−0.016%	$122K	$1.4M	3x	as long as short
Derive VVV-PERP	+0.0100%	1h	31.448	−0.041%	$3K	$3K	5x	as long as short
Phemex VVVUSDTshort	+0.0100%	4h	31.469	+0.025%	$2.0M	$2.1M	50x
Extended VVV-USD	+0.0104%	1h	31.456	−0.016%	$300K	$1.3M	5x	as long as short
Aevo VVV-PERP	+0.0104%	1h	31.465	+0.013%	$6K	—	3x	as long as short
edgeX VVVUSDC	+0.0112%	4h	31.568	+0.341%	$78K	$330K	10x	as long as short
01 Exchange VVVUSD	+0.0128%	1h	31.489	+0.089%	$11K	$2K	3x	as long as short
Phoenix VVV	+0.0307%	1h	31.550	+0.283%	$33K	$215K	5x	as long as short
GMX VVV/USD [ETH-USDC]	L +0.0436% / S −0.0208%	1h	31.450	−0.037%	$506K	—	100x	as long as short
Backpack VVV_USDC_PERP	+0.0481%	1h	31.494	+0.105%	$149K	$270K	5x	as long as short