Funding arb · Price arb /

VVV

all VVV markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.027%

Price spread now: BingX against Phemex+0.300%51s7-day average −0.022% · you sell dearer than you buy

Net, funding: paid 7d − costs−$104as 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−$1101.099% of the position

Long on Phemex Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.060%+$6 on $10k

Price spread, last 3 days (all we have)−0.175%−$17 · spread now +0.300%, 7d avg −0.022%

Together, before fees−0.114%−$11 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: BingX is 0.321% dearer against Phemex than usual: you sell high and buy low, +$32 on $10k if it goes back to its 7-day average of −0.022%. The two prices were read 51 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	Phemex VVVUSDT	32.019	0.0100	pay 0.0050% / 4h	3h 26m	$2.1M	$2.1M	50x
Short	BingX VVV-USDT	32.115	0.0100	get 0.0050% / 4h	3h 26m	—	$5.4M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against Phemex. 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 PhemexbpFee BingXbpOrdersPrice spread, now +0.300%Rate

Funding earned: $0
Price spread: +0.300% → −0.022%: $32.14
Slippage, 4 orders: −$87.9
Fee Phemex: 6 bp × 2 orders: −$12
Fee BingX: 5 bp × 2 orders: −$10
Net: −$77.76
Costs to cover: 1.099%
Break-even: never at this rate

Slippage from Phemex: live order book, 2 min ago; BingX: live order book, 9 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 Phemex live order book, 2 min ago	8.12 bp	47.0 bp −$47	doesn't fit	doesn't fit	doesn't fit
Sell BingX live order book, 9 min ago	1.10 bp	12.1 bp −$12	31.6 bp −$316	165.2 bp −$16.5K	548.6 bp −$274.3K

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	−0.0279%	1h	32.108	+0.278%	$147K	$1.2M	3x	as long as short
01 Exchange VVVUSD	−0.0064%	1h	32.071	+0.162%	$11K	$3K	3x	as long as short
Deribit VVV_USDC-PERPETUAL	−0.0053%	1h	32.022	+0.011%	$91K	$23K	10x	as long as short
RISEx VVV/USDC	−0.0015%	1h	32.088	+0.217%	$395K	$601K	5x	as long as short
Kalshi KXVVVPERP	0.0000%	8h	32.060	+0.128%	$109K	$6.5M	1.7x	as long as short
Phoenix VVV	0.0000%	1h	32.028	+0.028%	$56K	$298K	5x	as long as short
gTrade (Gains Network) VVV/USD	L +0.0004% / S −0.0004%	1h	32.114	+0.297%	$19K	—	150x	as long as short
Injective VVV/USDC PERP	+0.0033%	1h	32.820	+2.502%	$2K	$1K	5.5x	as long as short
Gate VVV_USDT	+0.0048%	4h	32.104	+0.265%	$10.8M	$7.4M	25x	as long as short
Lighter VVV	+0.0096%	1h	32.112	+0.291%	$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	+0.119%	$474K	$1.6M	5x	as long as short
Bybit VVVUSDT	+0.0100%	4h	32.098	+0.245%	$39.3M	$51.5M	20x	as long as short
Nado VVV-PERP	+0.0100%	1h	32.103	+0.264%	$126K	$850K	3x	as long as short
Hyperliquid VVV	+0.0100%	1h	32.115	+0.300%	$74.5M	$55.1M	3x	as long as short
Aster VVVUSDT	+0.0100%	4h	32.089	+0.220%	$261K	$1.9M	10x	as long as short
Pacifica VVV	+0.0100%	1h	32.122	+0.323%	$192K	$187K	10x	as long as short
Binance VVVUSDT	+0.0100%	4h	32.108	+0.279%	$33.7M	$154.3M	25x	as long as short
OKX VVV-USDT-SWAP	+0.0100%	4h	32.109	+0.281%	$4.7M	$41.8M	20x	as long as short
MEXC VVV_USDT	+0.0100%	4h	32.112	+0.290%	$6.5M	$7.0M	50x	as long as short
KuCoin VVVUSDTM	+0.0100%	4h	32.095	+0.237%	$2.0M	$2.8M	20x	as long as short
Bitget VVVUSDT	+0.0100%	4h	32.102	+0.259%	$5.8M	$8.9M	20x	as long as short
BingX VVV-USDTshort	+0.0100%	4h	32.115	+0.300%	—	$5.4M	—
Backpack VVV_USDC_PERP	+0.0100%	1h	32.043	+0.075%	$124K	$331K	5x	as long as short
Variational Omni VVV	+0.0100%	4h	32.088	+0.215%	$2.1M	$190K	—	as long as short
Derive VVV-PERP	+0.0100%	1h	32.110	+0.284%	$3K	$2K	5x	as long as short
Phemex VVVUSDTlong	+0.0100%	4h	32.019	long leg	$2.1M	$2.1M	50x
Paradex VVV-USD-PERP	+0.0100%	8h	32.098	+0.247%	$3K	$106	5x	as long as short
edgeX VVVUSDC	+0.0102%	4h	32.009	−0.031%	$80K	$333K	10x	as long as short
Extended VVV-USD	+0.0104%	1h	32.084	+0.204%	$306K	$2.0M	5x	as long as short
Aevo VVV-PERP	+0.0104%	1h	32.087	+0.213%	$6K	—	3x	as long as short
BloFin VVV-USDT	+0.0130%	4h	32.012	−0.022%	$1.3M	$1.8M	25x	as long as short
GMX VVV/USD [ETH-USDC]	L +0.0178% / S +0.0121%	1h	32.105	+0.269%	$580K	—	100x	as long as short
Coinbase International VVV-PERP-INTX	+0.0320%	1h	32.219	+0.626%	$248K	$1.3M	25x	as long as short