Funding arb · Price arb /

VVV

all VVV markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0109%/8h= −11.9% APRpaid last 24h −0.039%

Price spread now: KuCoin against Phoenix−0.357%7-day average −0.069% · you buy dearer than you sell

Net, funding: paid 7d − costs−$153as in the Funding arb table

Net, price: spread back to 7d avg − costs−$148as in the Price arb table

costs, in and out, $10k−$1191.188% of the position

Long on Phoenix Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.337%−$34 on $10k

Price spread, last 4 days (all we have)+0.369%+$37 · spread now −0.357%, 7d avg −0.069%

Together, before fees+0.031%+$3 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 KuCoin is 0.288% cheaper against Phoenix than usual: you would sell low and buy high (−$29 if the spread goes back to its 7-day average of −0.069%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phoenix VVV	30.802	0.0209	pay 0.0026% / 1h	46m 48s	$32K	$243K	5x
Short	KuCoin VVVUSDTM	30.692	0.0100	get 0.0050% / 4h	2h 46m	$1.9M	$2.7M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now −0.357%Rate

Funding earned: −$22.8
Price spread: −0.357% → −0.069%: −$28.82
Slippage, 4 orders: −$99.82
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$170.44
Costs to cover: 1.188%
Break-even: never at this rate

Slippage from Phoenix: live order book, 63 min ago; KuCoin: live order book, 5 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, 63 min ago	2.93 bp	19.7 bp −$20	65.2 bp −$652	doesn't fit	doesn't fit
Sell KuCoin live order book, 5 min ago	11.56 bp	41.0 bp −$41	212.8 bp −$2,128	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	−0.0329%	1h	30.646	−0.506%	$381K	$647K	5x	as long as short
Coinbase International VVV-PERP-INTX	−0.0040%	1h	30.723	−0.256%	$143K	$1.2M	25x	as long as short
gTrade (Gains Network) VVV/USD	L +0.0004% / S −0.0006%	1h	30.675	−0.412%	$21K	—	150x	as long as short
Injective VVV/USDC PERP	+0.0033%	1h	32.820	+6.552%	$2K	$1K	5.5x	as long as short
Polymarket Perps VVV-USD	+0.0059%	1h	30.664	−0.448%	$117K	$1.4M	3x	as long as short
BloFin VVV-USDT	+0.0068%	4h	30.672	−0.422%	$1.3M	$1.5M	25x	as long as short
Deribit VVV_USDC-PERPETUAL	+0.0092%	1h	30.676	−0.409%	$85K	$22K	10x	as long as short
Lighter VVV	+0.0096%	1h	30.658	−0.468%	$2.0M	$4.6M	5x	as long as short
Lighter RH VVV	+0.0096%	1h	30.669	−0.432%	$447K	$1.6M	5x	as long as short
Paradex VVV-USD-PERP	+0.0100%	8h	30.674	−0.416%	$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	30.689	−0.365%	$134K	$870K	3x	as long as short
Hyperliquid VVV	+0.0100%	1h	30.672	−0.422%	$69.1M	$48.6M	3x	as long as short
Aster VVVUSDT	+0.0100%	4h	30.693	−0.354%	$244K	$1.0M	10x	as long as short
Pacifica VVV	+0.0100%	1h	30.713	−0.288%	$181K	$130K	10x	as long as short
Binance VVVUSDT	+0.0100%	4h	30.683	−0.387%	$33.0M	$122.8M	25x	as long as short
Bybit VVVUSDT	+0.0100%	4h	30.652	−0.487%	$38.0M	$42.0M	20x	as long as short
OKX VVV-USDT-SWAP	+0.0100%	4h	30.659	−0.464%	$4.8M	$30.7M	20x	as long as short
Gate VVV_USDT	+0.0100%	4h	30.655	−0.477%	$10.6M	$5.6M	25x	as long as short
MEXC VVV_USDT	+0.0100%	4h	30.680	−0.396%	$6.4M	$5.7M	50x	as long as short
KuCoin VVVUSDTMshort	+0.0100%	4h	30.692	−0.357%	$1.9M	$2.7M	20x
Bitget VVVUSDT	+0.0100%	4h	30.649	−0.497%	$5.7M	$7.2M	20x	as long as short
BingX VVV-USDT	+0.0100%	4h	30.664	−0.448%	—	$4.9M	—	as long as short
Variational Omni VVV	+0.0100%	4h	30.708	−0.305%	$1.9M	$350K	—	as long as short
Derive VVV-PERP	+0.0100%	1h	30.659	−0.464%	$3K	$3K	5x	as long as short
Phemex VVVUSDT	+0.0100%	4h	30.667	−0.438%	$2.0M	$2.1M	50x	as long as short
edgeX VVVUSDC	+0.0102%	4h	30.793	−0.030%	$77K	$333K	10x	as long as short
Extended VVV-USD	+0.0104%	1h	30.666	−0.441%	$299K	$2.2M	5x	as long as short
01 Exchange VVVUSD	+0.0104%	1h	30.658	−0.468%	$11K	$3K	3x	as long as short
Aevo VVV-PERP	+0.0104%	1h	30.688	−0.370%	$6K	—	3x	as long as short
Phoenix VVVlong	+0.0209%	1h	30.802	long leg	$32K	$243K	5x
Kalshi KXVVVPERP	+0.0253%	8h	30.699	−0.334%	$94K	$5.5M	1.7x	as long as short
GMX VVV/USD [ETH-USDC]	L +0.0426% / S −0.0176%	1h	30.666	−0.443%	$535K	—	100x	as long as short
Backpack VVV_USDC_PERP	+0.0468%	1h	30.674	−0.415%	$119K	$239K	5x	as long as short