Funding arb · Price arb /

VVV

all VVV markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 21:00 UTC+0.0023%/8h= +2.5% APRpaid last 24h −0.025%

Price spread now: BingX against Phoenix+0.357%7-day average −0.017% · you sell dearer than you buy

Net, funding: paid 7d − costs−$99as in the Funding arb table

Net, price: spread back to 7d avg − costs−$30as in the Price arb table

costs, in and out, $10k−$670.672% of the position

Long on Phoenix Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.313%−$31 on $10k

Price spread, last 3 days (all we have)−0.248%−$25 · spread now +0.357%, 7d avg −0.017%

Together, before fees−0.561%−$56 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and BingX is 0.374% dearer against Phoenix than usual: you sell high and buy low: +$37 more if the spread goes back to its 7-day average of −0.017%. Mind the row above: over the last 7 days funding on this pair cost −0.313%, 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	32.454	0.0077	pay 0.0010% / 1h	3m 10s	$57K	$292K	5x
Short	BingX VVV-USDT	32.570	0.0100	get 0.0050% / 4h	2h 03m	—	$5.4M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX 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 BingXbpOrdersPrice spread, now +0.357%Rate

Funding earned: $4.82
Price spread: +0.357% → −0.017%: $37.4
Slippage, 4 orders: −$50.23
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee BingX: 5 bp × 2 orders: −$10
Net: −$25.01
Costs to cover: 0.672%
Break-even: 43.3 days

Slippage from Phoenix: live order book, 17 min ago; BingX: 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 Phoenix live order book, 17 min ago	3.12 bp	19.7 bp −$20	65.2 bp −$652	doesn't fit	doesn't fit
Sell BingX live order book, 2 min ago	0.46 bp	14.2 bp −$14	34.9 bp −$349	217.1 bp −$21.7K	711.2 bp −$355.6K

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
Kalshi KXVVVPERP	0.0000%	8h	32.561	+0.330%	$107K	$6.9M	1.7x	as long as short
gTrade (Gains Network) VVV/USD	L +0.0004% / S −0.0004%	1h	32.496	+0.129%	$19K	—	150x	as long as short
Deribit VVV_USDC-PERPETUAL	+0.0033%	1h	32.524	+0.215%	$92K	$23K	10x	as long as short
Injective VVV/USDC PERP	+0.0033%	1h	32.820	+1.128%	$2K	$1K	5.5x	as long as short
Phoenix VVVlong	+0.0077%	1h	32.454	long leg	$57K	$292K	5x
RISEx VVV/USDC	+0.0078%	1h	32.511	+0.176%	$413K	$577K	5x	as long as short
BloFin VVV-USDT	+0.0079%	4h	32.561	+0.330%	$1.4M	$1.8M	25x	as long as short
Lighter VVV	+0.0096%	1h	32.551	+0.299%	$2.2M	$5.4M	5x	as long as short
Lighter RH VVV	+0.0096%	1h	32.539	+0.262%	$486K	$1.6M	5x	as long as short
Nado VVV-PERP	+0.0100%	1h	32.538	+0.259%	$150K	$781K	3x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster VVVUSDT	+0.0100%	4h	32.534	+0.247%	$276K	$1.8M	10x	as long as short
Pacifica VVV	+0.0100%	1h	32.473	+0.059%	$193K	$176K	10x	as long as short
Binance VVVUSDT	+0.0100%	4h	32.577	+0.379%	$34.4M	$155.6M	25x	as long as short
Bybit VVVUSDT	+0.0100%	4h	32.565	+0.340%	$40.2M	$52.2M	20x	as long as short
OKX VVV-USDT-SWAP	+0.0100%	4h	32.575	+0.373%	$4.8M	$42.8M	20x	as long as short
Gate VVV_USDT	+0.0100%	4h	32.513	+0.182%	$11.0M	$7.8M	25x	as long as short
MEXC VVV_USDT	+0.0100%	4h	32.552	+0.302%	$17.6M	$7.0M	50x	as long as short
KuCoin VVVUSDTM	+0.0100%	4h	32.490	+0.111%	$2.1M	$2.8M	20x	as long as short
Bitget VVVUSDT	+0.0100%	4h	32.544	+0.277%	$5.9M	$8.8M	20x	as long as short
BingX VVV-USDTshort	+0.0100%	4h	32.570	+0.357%	—	$5.4M	—
Variational Omni VVV	+0.0100%	4h	32.341	−0.348%	$2.1M	$180K	—	as long as short
Polymarket Perps VVV-USD	+0.0100%	1h	32.515	+0.188%	$154K	$1.2M	3x	as long as short
Derive VVV-PERP	+0.0100%	1h	32.506	+0.161%	$1K	$1K	5x	as long as short
Phemex VVVUSDT	+0.0100%	4h	32.487	+0.102%	$2.1M	$2.0M	50x	as long as short
Paradex VVV-USD-PERP	+0.0100%	8h	32.468	+0.044%	$3K	$106	5x	as long as short
Extended VVV-USD	+0.0104%	1h	32.527	+0.225%	$321K	$1.6M	5x	as long as short
Aevo VVV-PERP	+0.0104%	1h	32.504	+0.155%	$7K	$13K	3x	as long as short
edgeX VVVUSDC	+0.0109%	4h	32.426	−0.086%	$81K	$331K	10x	as long as short
GMX VVV/USD [ETH-USDC]	L +0.0191% / S +0.0095%	1h	32.517	+0.194%	$568K	—	100x	as long as short
01 Exchange VVVUSD	+0.0208%	1h	32.566	+0.345%	$12K	$3K	3x	as long as short
Coinbase International VVV-PERP-INTX	+0.0232%	1h	32.490	+0.111%	$200K	$1.1M	25x	as long as short
Hyperliquid VVV	+0.0300%	1h	32.564	+0.340%	$75.4M	$55.2M	3x	as long as short
Backpack VVV_USDC_PERP	+0.0370%	1h	32.630	+0.541%	$125K	$376K	5x	as long as short