Funding arb · Price arb /

VVV

all VVV markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0074%/8h= −8.1% APRpaid last 24h −0.017%

Price spread now: edgeX against Phoenix−0.022%7-day average +0.002% · you buy dearer than you sell

Net, funding: paid 7d − costs−$149as in the Funding arb table

Net, price: spread back to 7d avg − costs−$125as in the Price arb table

costs, in and out, $10k−$1221.223% of the position

Long on Phoenix Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.262%−$26 on $10k

Price spread, last 4 days (all we have)+0.034%+$3 · spread now −0.022%, 7d avg +0.002%

Together, before fees−0.228%+ Points / potential airdropedgeX: Active · farm board−$23 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and edgeX is 0.024% cheaper against Phoenix than usual: you would sell low and buy high (−$2 if the spread goes back to its 7-day average of +0.002%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phoenix VVV	30.882	0.0182	pay 0.0023% / 1h	15m 48s	$32K	$253K	5x
Short	edgeX VVVUSDC	30.875	0.0108	get 0.0054% / 4h	15m 48s	$77K	$334K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX 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 edgeXbpOrdersPrice spread, now −0.022%Rate

Funding earned: −$15.46
Price spread: −0.022% → +0.002%: −$2.38
Slippage, 4 orders: −$106.32
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: −$140.16
Costs to cover: 1.223%
Break-even: never at this rate

Slippage from Phoenix: live order book, 39 min ago; edgeX: live order book, 42 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, 39 min ago	2.92 bp	19.9 bp −$20	65.3 bp −$653	doesn't fit	doesn't fit
Sell edgeX live order book, 42 min ago	0.81 bp	41.3 bp −$41	doesn't fit	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	−0.0299%	1h	30.847	−0.114%	$378K	$630K	5x	as long as short
Polymarket Perps VVV-USD	−0.0080%	1h	30.855	−0.087%	$129K	$1.2M	3x	as long as short
Deribit VVV_USDC-PERPETUAL	0.0000%	1h	30.863	−0.061%	$86K	$24K	10x	as long as short
gTrade (Gains Network) VVV/USD	L +0.0004% / S −0.0002%	1h	30.875	−0.022%	$23K	—	150x	as long as short
Injective VVV/USDC PERP	+0.0033%	1h	32.820	+6.276%	$2K	$1K	5.5x	as long as short
01 Exchange VVVUSD	+0.0040%	1h	30.867	−0.049%	$11K	$3K	3x	as long as short
Gate VVV_USDT	+0.0042%	4h	30.852	−0.097%	$10.3M	$6.0M	25x	as long as short
Coinbase International VVV-PERP-INTX	+0.0064%	1h	30.870	−0.039%	$145K	$1.2M	25x	as long as short
BloFin VVV-USDT	+0.0065%	4h	30.891	+0.029%	$1.3M	$1.6M	25x	as long as short
Lighter VVV	+0.0096%	1h	30.870	−0.038%	$2.1M	$5.3M	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	30.873	−0.029%	$451K	$1.6M	5x	as long as short
Paradex VVV-USD-PERP	+0.0100%	8h	30.851	−0.099%	$3K	$73	5x	as long as short
Nado VVV-PERP	+0.0100%	1h	30.870	−0.039%	$142K	$873K	3x	as long as short
Hyperliquid VVV	+0.0100%	1h	30.876	−0.020%	$70.4M	$49.1M	3x	as long as short
Aster VVVUSDT	+0.0100%	4h	30.859	−0.074%	$247K	$1.1M	10x	as long as short
Pacifica VVV	+0.0100%	1h	30.885	+0.009%	$182K	$133K	10x	as long as short
Binance VVVUSDT	+0.0100%	4h	30.883	+0.003%	$33.1M	$129.1M	25x	as long as short
Bybit VVVUSDT	+0.0100%	4h	30.859	−0.074%	$38.4M	$43.1M	20x	as long as short
OKX VVV-USDT-SWAP	+0.0100%	4h	30.880	−0.006%	$4.8M	$32.9M	20x	as long as short
MEXC VVV_USDT	+0.0100%	4h	30.854	−0.091%	$6.3M	$6.2M	50x	as long as short
KuCoin VVVUSDTM	+0.0100%	4h	30.859	−0.074%	$1.9M	$2.8M	20x	as long as short
Bitget VVVUSDT	+0.0100%	4h	30.844	−0.123%	$5.7M	$7.4M	20x	as long as short
BingX VVV-USDT	+0.0100%	4h	30.865	−0.055%	—	$5.0M	—	as long as short
Variational Omni VVV	+0.0100%	4h	30.848	−0.111%	$1.9M	$283K	—	as long as short
Derive VVV-PERP	+0.0100%	1h	30.865	−0.056%	$3K	$3K	5x	as long as short
Phemex VVVUSDT	+0.0100%	4h	30.869	−0.042%	$2.0M	$2.1M	50x	as long as short
Extended VVV-USD	+0.0104%	1h	30.838	−0.142%	$295K	$1.9M	5x	as long as short
Aevo VVV-PERP	+0.0104%	1h	30.875	−0.021%	$6K	—	3x	as long as short
edgeX VVVUSDCshort	+0.0108%	4h	30.875	−0.022%	$77K	$334K	10x
Backpack VVV_USDC_PERP	+0.0130%	1h	30.872	−0.031%	$120K	$249K	5x	as long as short
Kalshi KXVVVPERP	+0.0146%	8h	30.923	+0.133%	$103K	$5.7M	1.7x	as long as short
Phoenix VVVlong	+0.0182%	1h	30.882	long leg	$32K	$253K	5x
GMX VVV/USD [ETH-USDC]	L +0.0428% / S −0.0174%	1h	30.865	−0.055%	$541K	—	100x	as long as short