Funding arb · Price arb /

VVV

all VVV markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0084%/8h= −9.2% APRpaid last 24h −0.002%

Price spread now: BloFin against Phoenix−0.193%7-day average −0.008% · you buy dearer than you sell

Net, funding: paid 7d − costs−$82as in the Funding arb table

Net, price: spread back to 7d avg − costs−$87as in the Price arb table

costs, in and out, $10k−$680.684% of the position

Long on Phoenix Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.141%−$14 on $10k

Price spread, last 4 days (all we have)+0.407%+$41 · spread now −0.193%, 7d avg −0.008%

Together, before fees+0.266%+$27 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and BloFin is 0.185% cheaper against Phoenix than usual: you would sell low and buy high (−$19 if the spread goes back to its 7-day average of −0.008%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phoenix VVV	31.579	0.0203	pay 0.0025% / 1h	11m 55s	$33K	$215K	5x
Short	BloFin VVV-USDT	31.518	0.0118	get 0.0059% / 4h	11m 55s	$1.3M	$1.4M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin 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 BloFinbpOrdersPrice spread, now −0.193%Rate

Funding earned: −$17.73
Price spread: −0.193% → −0.008%: −$18.51
Slippage, 4 orders: −$49.4
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$104.63
Costs to cover: 0.684%
Break-even: never at this rate

Slippage from Phoenix: live order book, 23 min ago; BloFin: 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, 23 min ago	2.84 bp	19.7 bp −$20	65.0 bp −$650	doesn't fit	doesn't fit
Sell BloFin live order book, 1 min ago	0.32 bp	16.8 bp −$17	31.1 bp −$311	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
RISEx VVV/USDC	−0.0337%	1h	31.463	−0.368%	$386K	$666K	5x	as long as short
Coinbase International VVV-PERP-INTX	−0.0040%	1h	31.499	−0.252%	$187K	$1.3M	25x	as long as short
Kalshi KXVVVPERP	0.0000%	8h	31.504	−0.237%	$95K	$5.3M	1.7x	as long as short
gTrade (Gains Network) VVV/USD	L +0.0004% / S −0.0004%	1h	31.472	−0.339%	$19K	—	150x	as long as short
Injective VVV/USDC PERP	+0.0033%	1h	32.820	+3.930%	$2K	$1K	5.5x	as long as short
Deribit VVV_USDC-PERPETUAL	+0.0036%	1h	31.489	−0.284%	$88K	$22K	10x	as long as short
Gate VVV_USDT	+0.0056%	4h	31.445	−0.424%	$11.7M	$5.2M	25x	as long as short
Lighter VVV	+0.0096%	1h	31.488	−0.290%	$1.9M	$4.2M	5x	as long as short
Lighter RH VVV	+0.0096%	1h	31.476	−0.326%	$463K	$1.6M	5x	as long as short
Paradex VVV-USD-PERP	+0.0100%	8h	31.466	−0.357%	$3K	$73	5x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado VVV-PERP	+0.0100%	1h	31.498	−0.256%	$162K	$952K	3x	as long as short
Hyperliquid VVV	+0.0100%	1h	31.498	−0.256%	$70.4M	$44.5M	3x	as long as short
Aster VVVUSDT	+0.0100%	4h	31.467	−0.354%	$249K	$620K	10x	as long as short
Pacifica VVV	+0.0100%	1h	31.485	−0.299%	$185K	$122K	10x	as long as short
Binance VVVUSDT	+0.0100%	4h	31.465	−0.361%	$33.6M	$112.6M	25x	as long as short
Bybit VVVUSDT	+0.0100%	4h	31.439	−0.444%	$38.3M	$39.8M	20x	as long as short
OKX VVV-USDT-SWAP	+0.0100%	4h	31.457	−0.386%	$4.8M	$28.0M	20x	as long as short
MEXC VVV_USDT	+0.0100%	4h	31.467	−0.355%	$6.9M	$5.4M	50x	as long as short
KuCoin VVVUSDTM	+0.0100%	4h	31.453	−0.399%	$1.7M	$2.7M	20x	as long as short
Bitget VVVUSDT	+0.0100%	4h	31.456	−0.389%	$5.7M	$6.5M	20x	as long as short
BingX VVV-USDT	+0.0100%	4h	31.470	−0.345%	—	$4.7M	—	as long as short
Variational Omni VVV	+0.0100%	4h	31.452	−0.403%	$2.0M	$357K	—	as long as short
Polymarket Perps VVV-USD	+0.0100%	1h	31.476	−0.326%	$122K	$1.3M	3x	as long as short
Derive VVV-PERP	+0.0100%	1h	31.474	−0.332%	$3K	$3K	5x	as long as short
Phemex VVVUSDT	+0.0100%	4h	31.515	−0.203%	$2.0M	$2.1M	50x	as long as short
Extended VVV-USD	+0.0104%	1h	31.458	−0.383%	$298K	$1.9M	5x	as long as short
Aevo VVV-PERP	+0.0104%	1h	31.475	−0.329%	$6K	—	3x	as long as short
edgeX VVVUSDC	+0.0115%	4h	31.458	−0.384%	$78K	$332K	10x	as long as short
BloFin VVV-USDTshort	+0.0118%	4h	31.518	−0.193%	$1.3M	$1.4M	25x
01 Exchange VVVUSD	+0.0152%	1h	31.497	−0.260%	$11K	$2K	3x	as long as short
Phoenix VVVlong	+0.0203%	1h	31.579	long leg	$33K	$215K	5x
GMX VVV/USD [ETH-USDC]	L +0.0441% / S −0.0213%	1h	31.476	−0.327%	$506K	—	100x	as long as short
Backpack VVV_USDC_PERP	+0.0444%	1h	31.516	−0.199%	$160K	$272K	5x	as long as short