Funding arb · Price arb /

VVV

all VVV markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Bitget against Phemex+0.043%56s7-day average −0.081% · you sell dearer than you buy

Net, funding: paid 7d − costs−$118as 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−$1181.182% of the position

Long on Phemex Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days0.000%$0 on $10k

Price spread, last 3 days (all we have)−0.203%−$20 · spread now +0.043%, 7d avg −0.081%

Together, before fees−0.203%−$20 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: Bitget is 0.124% dearer against Phemex than usual: you sell high and buy low, +$12 on $10k if it goes back to its 7-day average of −0.081%. The two prices were read 56 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	32.265	0.0100	pay 0.0050% / 4h	1h 14m	$2.1M	$2.1M	50x
Short	Bitget VVVUSDT	32.279	0.0100	get 0.0050% / 4h	1h 14m	$5.9M	$9.0M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget 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 BitgetbpOrdersPrice spread, now +0.043%Rate

Funding earned: $0
Price spread: +0.043% → −0.081%: $12.41
Slippage, 4 orders: −$94.24
Fee Phemex: 6 bp × 2 orders: −$12
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$105.83
Costs to cover: 1.182%
Break-even: never at this rate

Slippage from Phemex: live order book, 4 min ago; Bitget: live order book, 4 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, 4 min ago	1.40 bp	39.6 bp −$40	doesn't fit	doesn't fit	doesn't fit
Sell Bitget live order book, 4 min ago	4.05 bp	19.9 bp −$20	55.3 bp −$553	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
Deribit VVV_USDC-PERPETUAL	0.0000%	1h	32.285	+0.062%	$91K	$23K	10x	as long as short
gTrade (Gains Network) VVV/USD	L +0.0004% / S −0.0004%	1h	32.295	+0.092%	$19K	—	150x	as long as short
Injective VVV/USDC PERP	+0.0033%	1h	32.820	+1.720%	$2K	$1K	5.5x	as long as short
Lighter VVV	+0.0096%	1h	32.307	+0.131%	$2.3M	$5.5M	5x	as long as short
Lighter RH VVV	+0.0096%	1h	32.298	+0.102%	$480K	$1.6M	5x	as long as short
Phoenix VVV	+0.0098%	1h	32.131	−0.415%	$56K	$294K	5x	as long as short
Nado VVV-PERP	+0.0100%	1h	32.297	+0.101%	$149K	$783K	3x	as long as short
Aster VVVUSDT	+0.0100%	4h	32.307	+0.129%	$265K	$1.9M	10x	as long as short
Pacifica VVV	+0.0100%	1h	32.305	+0.124%	$185K	$183K	10x	as long as short
Binance VVVUSDT	+0.0100%	4h	32.293	+0.087%	$33.8M	$157.6M	25x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit VVVUSDT	+0.0100%	4h	32.285	+0.062%	$39.7M	$52.8M	20x	as long as short
OKX VVV-USDT-SWAP	+0.0100%	4h	32.298	+0.102%	$4.7M	$42.9M	20x	as long as short
Gate VVV_USDT	+0.0100%	4h	32.290	+0.077%	$10.9M	$7.8M	25x	as long as short
MEXC VVV_USDT	+0.0100%	4h	32.310	+0.139%	$6.3M	$7.1M	50x	as long as short
KuCoin VVVUSDTM	+0.0100%	4h	32.313	+0.149%	$2.0M	$2.9M	20x	as long as short
Bitget VVVUSDTshort	+0.0100%	4h	32.279	+0.043%	$5.9M	$9.0M	20x
BingX VVV-USDT	+0.0100%	4h	32.299	+0.105%	—	$5.5M	—	as long as short
Variational Omni VVV	+0.0100%	4h	32.172	−0.287%	$2.1M	$183K	—	as long as short
Polymarket Perps VVV-USD	+0.0100%	1h	32.288	+0.071%	$139K	$1.2M	3x	as long as short
Derive VVV-PERP	+0.0100%	1h	32.291	+0.081%	$1K	$1K	5x	as long as short
Phemex VVVUSDTlong	+0.0100%	4h	32.265	long leg	$2.1M	$2.1M	50x
Kalshi KXVVVPERP	+0.0100%	8h	32.265	0.000%	$107K	$6.9M	1.7x	as long as short
Paradex VVV-USD-PERP	+0.0100%	8h	32.324	+0.183%	$3K	$106	5x	as long as short
Extended VVV-USD	+0.0104%	1h	32.295	+0.094%	$325K	$1.6M	5x	as long as short
Aevo VVV-PERP	+0.0104%	1h	32.283	+0.057%	$6K	$13K	3x	as long as short
BloFin VVV-USDT	+0.0112%	4h	32.300	+0.108%	$1.3M	$1.8M	25x	as long as short
edgeX VVVUSDC	+0.0112%	4h	32.191	−0.231%	$80K	$333K	10x	as long as short
Coinbase International VVV-PERP-INTX	+0.0144%	1h	32.233	−0.098%	$240K	$1.3M	25x	as long as short
RISEx VVV/USDC	+0.0175%	1h	32.298	+0.104%	$398K	$603K	5x	as long as short
GMX VVV/USD [ETH-USDC]	L +0.0186% / S +0.0168%	1h	32.295	+0.092%	$621K	—	100x	as long as short
Backpack VVV_USDC_PERP	+0.0228%	1h	32.297	+0.100%	$122K	$373K	5x	as long as short
Hyperliquid VVV	+0.0307%	1h	32.334	+0.214%	$75.0M	$56.1M	3x	as long as short
01 Exchange VVVUSD	+0.0336%	1h	32.305	+0.124%	$12K	$3K	3x	as long as short