Funding arb · Price arb /

VVV

all VVV markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h −0.024%

Price spread now: Binance against Phoenix−0.519%7-day average −0.005% · you buy dearer than you sell

Net, funding: paid 7d − costs−$97as in the Funding arb table

Net, price: spread back to 7d avg − costs−$119as in the Price arb table

costs, in and out, $10k−$680.680% of the position

Long on Phoenix Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days−0.293%−$29 on $10k

Price spread, last 4 days (all we have)−0.136%−$14 · spread now −0.519%, 7d avg −0.005%

Together, before fees−0.429%−$43 on $10k · with fees, hour by hour

Funding pays, the price is against you. Binance is 0.514% cheaper against Phoenix than usual: you would sell low and buy high (spread −0.519% now, against its 7-day average of −0.005%). If the spread goes back, that is −$51 on $10k: about 17 days of funding at the current rate (+$3 a day). Mind the row above: over the last 7 days funding on this pair cost −0.293%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phoenix VVV	31.373	0	get 0.0000% / 1h	56m 41s	$38K	$264K	5x
Short	Binance VVVUSDT	31.210	0.0100	get 0.0050% / 4h	1h 56m	$33.2M	$146.7M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Phoenix. 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 PhoenixbpFee BinancebpOrdersPrice spread, now −0.519%Rate

Funding earned: $21
Price spread: −0.519% → −0.005%: −$51.44
Slippage, 4 orders: −$50.95
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee Binance: 5 bp × 2 orders: −$10
Net: −$98.39
Costs to cover: 0.680%
Break-even: 39.8 days

Slippage from Phoenix: live order book, 4 min ago; Binance: live order book, 1 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 Phoenix live order book, 4 min ago	2.87 bp	19.9 bp −$20	65.3 bp −$653	doesn't fit	doesn't fit
Sell Binance live order book, 1 min ago	0.16 bp	15.1 bp −$15	43.0 bp −$430	doesn't fit	doesn't fit

VVV on 32 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	−0.0157%	1h	31.129	−0.778%	$134K	$1.2M	3x	as long as short
RISEx VVV/USDC	−0.0152%	1h	31.244	−0.411%	$383K	$644K	5x	as long as short
Gate VVV_USDT	−0.0060%	4h	31.210	−0.520%	$10.5M	$6.1M	25x	as long as short
Phoenix VVVlong	0.0000%	1h	31.373	long leg	$38K	$264K	5x
Deribit VVV_USDC-PERPETUAL	0.0000%	1h	31.127	−0.784%	$87K	$24K	10x	as long as short
gTrade (Gains Network) VVV/USD	L +0.0004% / S −0.0005%	1h	31.145	−0.725%	$19K	—	150x	as long as short
Injective VVV/USDC PERP	+0.0033%	1h	32.820	+4.612%	$2K	$1K	5.5x	as long as short
Lighter VVV	+0.0096%	1h	31.212	−0.514%	$2.1M	$5.3M	5x	as long as short
Lighter RH VVV	+0.0096%	1h	31.222	−0.481%	$461K	$1.5M	5x	as long as short
Paradex VVV-USD-PERP	+0.0100%	8h	31.232	−0.448%	$3K	$73	5x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado VVV-PERP	+0.0100%	1h	31.134	−0.760%	$130K	$846K	3x	as long as short
Hyperliquid VVV	+0.0100%	1h	31.255	−0.376%	$72.1M	$53.3M	3x	as long as short
Aster VVVUSDT	+0.0100%	4h	31.167	−0.656%	$252K	$1.8M	10x	as long as short
Pacifica VVV	+0.0100%	1h	31.234	−0.442%	$187K	$161K	10x	as long as short
Binance VVVUSDTshort	+0.0100%	4h	31.210	−0.519%	$33.2M	$146.7M	25x
Bybit VVVUSDT	+0.0100%	4h	31.207	−0.529%	$38.3M	$49.8M	20x	as long as short
OKX VVV-USDT-SWAP	+0.0100%	4h	31.244	−0.411%	$4.7M	$39.0M	20x	as long as short
MEXC VVV_USDT	+0.0100%	4h	31.221	−0.484%	$6.3M	$6.6M	50x	as long as short
KuCoin VVVUSDTM	+0.0100%	4h	31.177	−0.625%	$1.8M	$2.8M	20x	as long as short
Bitget VVVUSDT	+0.0100%	4h	31.210	−0.520%	$5.7M	$8.5M	20x	as long as short
BingX VVV-USDT	+0.0100%	4h	31.238	−0.430%	—	$5.4M	—	as long as short
Variational Omni VVV	+0.0100%	4h	31.347	−0.084%	$2.1M	$185K	—	as long as short
Derive VVV-PERP	+0.0100%	1h	31.125	−0.791%	$3K	$3K	5x	as long as short
Phemex VVVUSDT	+0.0100%	4h	31.169	−0.650%	$2.0M	$2.1M	50x	as long as short
Extended VVV-USD	+0.0104%	1h	31.237	−0.435%	$293K	$1.9M	5x	as long as short
Aevo VVV-PERP	+0.0104%	1h	31.192	−0.577%	$6K	—	3x	as long as short
edgeX VVVUSDC	+0.0119%	4h	31.350	−0.072%	$78K	$336K	10x	as long as short
Kalshi KXVVVPERP	+0.0125%	8h	31.207	−0.529%	$107K	$6.2M	1.7x	as long as short
01 Exchange VVVUSD	+0.0128%	1h	31.272	−0.322%	$11K	$3K	3x	as long as short
Backpack VVV_USDC_PERP	+0.0155%	1h	31.151	−0.707%	$120K	$309K	5x	as long as short
Coinbase International VVV-PERP-INTX	+0.0168%	1h	31.154	−0.699%	$155K	$1.3M	25x	as long as short
GMX VVV/USD [ETH-USDC]	L +0.0175% / S +0.0125%	1h	31.123	−0.796%	$561K	—	100x	as long as short