Funding arb · Price arb /

VVV

all VVV markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0100%/8h= −11.0% APRpaid last 24h +0.051%

Price spread now: Phoenix against Paradex−0.217%46s7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Paradex Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropParadex: Active · farm boardneeds both histories

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and Phoenix is 0.217% cheaper against Paradex than usual: you would sell low and buy high (−$22 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 46 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	Paradex VVV-USD-PERP	31.980	0.0100	pay 0.0100% / 8h	7h 04m	$3K	$106	5x
Short	Phoenix VVV	31.910	0	get 0.0000% / 1h	4m 28s	$56K	$298K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix against Paradex. 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 ParadexbpFee PhoenixbpOrdersPrice spread, now −0.217%Rate

Funding earned: −$21
Price spread: −0.217% → 0.000%: −$21.74
Slippage, 4 orders: no order book: not counted
Fee Paradex: 2 bp × 2 orders: −$4
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: −$53.74
Costs to cover: 0.110%
Break-even: never at this rate

Slippage unknown: Paradex: no order-book sample; Phoenix: live order book, 66 min ago. Net counts fees only.

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 Paradex no order-book sample	—	—	—	—	—
Sell Phoenix live order book, 66 min ago	3.13 bp	19.8 bp −$20	57.3 bp −$573	doesn't fit	doesn't fit

Paradex: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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
Bybit VVVUSDT	−0.0245%	4h	31.936	−0.136%	$39.0M	$51.6M	20x	as long as short
Polymarket Perps VVV-USD	−0.0228%	1h	31.930	−0.155%	$159K	$1.2M	3x	as long as short
Gate VVV_USDT	−0.0124%	4h	31.949	−0.095%	$10.7M	$7.4M	25x	as long as short
RISEx VVV/USDC	−0.0015%	1h	31.940	−0.125%	$392K	$597K	5x	as long as short
01 Exchange VVVUSD	0.0000%	1h	31.969	−0.033%	$11K	$3K	3x	as long as short
Kalshi KXVVVPERP	0.0000%	8h	31.931	−0.152%	$114K	$6.5M	1.7x	as long as short
Phoenix VVVshort	0.0000%	1h	31.910	−0.217%	$56K	$298K	5x
Deribit VVV_USDC-PERPETUAL	0.0000%	1h	31.905	−0.232%	$89K	$24K	10x	as long as short
gTrade (Gains Network) VVV/USD	L +0.0004% / S −0.0004%	1h	31.953	−0.084%	$797	—	150x	as long as short
Injective VVV/USDC PERP	+0.0033%	1h	32.820	+2.628%	$2K	$1K	5.5x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BloFin VVV-USDT	+0.0045%	4h	31.923	−0.177%	$1.3M	$1.8M	25x	as long as short
Lighter VVV	+0.0096%	1h	31.955	−0.075%	$2.2M	$5.9M	5x	as long as short
Lighter RH VVV	+0.0096%	1h	31.964	−0.049%	$473K	$1.6M	5x	as long as short
Nado VVV-PERP	+0.0100%	1h	31.956	−0.072%	$125K	$850K	3x	as long as short
Hyperliquid VVV	+0.0100%	1h	31.955	−0.077%	$74.2M	$54.9M	3x	as long as short
Aster VVVUSDT	+0.0100%	4h	31.951	−0.088%	$260K	$1.9M	10x	as long as short
Pacifica VVV	+0.0100%	1h	31.985	+0.018%	$191K	$183K	10x	as long as short
Binance VVVUSDT	+0.0100%	4h	31.947	−0.102%	$33.6M	$154.1M	25x	as long as short
OKX VVV-USDT-SWAP	+0.0100%	4h	31.921	−0.183%	$4.7M	$41.3M	20x	as long as short
MEXC VVV_USDT	+0.0100%	4h	31.955	−0.077%	$6.5M	$7.0M	50x	as long as short
KuCoin VVVUSDTM	+0.0100%	4h	31.925	−0.170%	$2.0M	$2.8M	20x	as long as short
Bitget VVVUSDT	+0.0100%	4h	31.930	−0.155%	$5.8M	$8.9M	20x	as long as short
BingX VVV-USDT	+0.0100%	4h	31.941	−0.120%	—	$5.4M	—	as long as short
Backpack VVV_USDC_PERP	+0.0100%	1h	31.940	−0.123%	$123K	$335K	5x	as long as short
Variational Omni VVV	+0.0100%	4h	31.882	−0.306%	$2.1M	$190K	—	as long as short
Derive VVV-PERP	+0.0100%	1h	31.906	−0.230%	$3K	$3K	5x	as long as short
Phemex VVVUSDT	+0.0100%	4h	31.924	−0.174%	$2.1M	$2.1M	50x	as long as short
Paradex VVV-USD-PERPlong	+0.0100%	8h	31.980	long leg	$3K	$106	5x
edgeX VVVUSDC	+0.0100%	4h	31.926	−0.166%	$79K	$334K	10x	as long as short
Extended VVV-USD	+0.0104%	1h	31.940	−0.123%	$304K	$2.0M	5x	as long as short
Aevo VVV-PERP	+0.0104%	1h	31.919	−0.189%	$6K	—	3x	as long as short
GMX VVV/USD [ETH-USDC]	L +0.0177% / S +0.0121%	1h	31.942	−0.118%	$578K	—	100x	as long as short
Coinbase International VVV-PERP-INTX	+0.0320%	1h	31.927	−0.164%	$245K	$1.3M	25x	as long as short