Funding arb · Price arb /

VVV

all VVV markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0012%/8h= +1.3% APRpaid last 24h +0.013%

Price spread now: Phemex against Polymarket Perps−0.091%46s7-day average +0.055% · you buy dearer than you sell

Net, funding: paid 7d − costs−$88as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$990.990% of the position

Long on Polymarket Perps Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days+0.111%+$11 on $10k

Price spread, last 4 days (all we have)+0.185%+$18 · spread now −0.091%, 7d avg +0.055%

Together, before fees+0.295%+$30 on $10k · with fees, hour by hour

Funding pays, the price is against you. Phemex is 0.146% cheaper against Polymarket Perps than usual: you would sell low and buy high (spread −0.091% now, against its 7-day average of +0.055%). If the spread goes back, that is −$15 on $10k: about 40 days of funding at the current rate ($0 a day). At the pace of the last 7 days (+0.111% in total) that is about 9.2 days. The two prices were read 46 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Polymarket Perps VVV-USD	30.781	0.0088	pay 0.0011% / 1h	49m 34s	$119K	$1.4M	3x
Short	Phemex VVVUSDT	30.753	0.0100	get 0.0050% / 4h	2h 49m	$2.0M	$2.1M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against Polymarket Perps. 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 Polymarket PerpsbpFee PhemexbpOrdersPrice spread, now −0.091%Rate

Funding earned: $2.57
Price spread: −0.091% → +0.055%: −$14.55
Slippage, 4 orders: −$79.02
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$111
Costs to cover: 0.990%
Break-even: 309.3 days

Slippage from Polymarket Perps: live order book, 4 min ago; Phemex: live order book, 4 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 Polymarket Perps live order book, 4 min ago	3.26 bp	8.8 bp −$9	9.4 bp −$94	doesn't fit	doesn't fit
Sell Phemex live order book, 4 min ago	2.28 bp	42.8 bp −$43	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	−0.0329%	1h	30.774	−0.024%	$380K	$646K	5x	as long as short
Coinbase International VVV-PERP-INTX	−0.0040%	1h	30.723	−0.188%	$143K	$1.2M	25x	as long as short
gTrade (Gains Network) VVV/USD	L +0.0004% / S −0.0006%	1h	30.779	−0.008%	$21K	—	150x	as long as short
Deribit VVV_USDC-PERPETUAL	+0.0020%	1h	30.761	−0.066%	$86K	$22K	10x	as long as short
Injective VVV/USDC PERP	+0.0033%	1h	32.820	+6.624%	$2K	$1K	5.5x	as long as short
01 Exchange VVVUSD	+0.0080%	1h	30.811	+0.097%	$11K	$3K	3x	as long as short
Polymarket Perps VVV-USDlong	+0.0088%	1h	30.781	long leg	$119K	$1.4M	3x
Lighter VVV	+0.0096%	1h	30.779	−0.006%	$2.0M	$4.6M	5x	as long as short
Lighter RH VVV	+0.0096%	1h	30.771	−0.032%	$448K	$1.6M	5x	as long as short
Paradex VVV-USD-PERP	+0.0100%	8h	30.773	−0.026%	$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	30.818	+0.120%	$134K	$870K	3x	as long as short
Hyperliquid VVV	+0.0100%	1h	30.779	−0.006%	$69.4M	$48.6M	3x	as long as short
Aster VVVUSDT	+0.0100%	4h	30.792	+0.037%	$245K	$1.0M	10x	as long as short
Pacifica VVV	+0.0100%	1h	30.780	−0.003%	$182K	$130K	10x	as long as short
Binance VVVUSDT	+0.0100%	4h	30.791	+0.031%	$33.2M	$123.2M	25x	as long as short
Bybit VVVUSDT	+0.0100%	4h	30.775	−0.019%	$38.1M	$42.1M	20x	as long as short
OKX VVV-USDT-SWAP	+0.0100%	4h	30.798	+0.055%	$4.8M	$31.0M	20x	as long as short
Gate VVV_USDT	+0.0100%	4h	30.767	−0.045%	$10.7M	$5.6M	25x	as long as short
MEXC VVV_USDT	+0.0100%	4h	30.781	0.000%	$6.4M	$5.7M	50x	as long as short
KuCoin VVVUSDTM	+0.0100%	4h	30.742	−0.127%	$1.9M	$2.8M	20x	as long as short
Bitget VVVUSDT	+0.0100%	4h	30.775	−0.019%	$5.7M	$7.2M	20x	as long as short
BingX VVV-USDT	+0.0100%	4h	30.776	−0.016%	—	$4.9M	—	as long as short
Variational Omni VVV	+0.0100%	4h	30.708	−0.237%	$1.9M	$350K	—	as long as short
Derive VVV-PERP	+0.0100%	1h	30.746	−0.115%	$3K	$3K	5x	as long as short
Phemex VVVUSDTshort	+0.0100%	4h	30.753	−0.091%	$2.0M	$2.1M	50x
Extended VVV-USD	+0.0104%	1h	30.779	−0.008%	$300K	$2.2M	5x	as long as short
Aevo VVV-PERP	+0.0104%	1h	30.771	−0.032%	$6K	—	3x	as long as short
edgeX VVVUSDC	+0.0110%	4h	30.668	−0.367%	$76K	$333K	10x	as long as short
BloFin VVV-USDT	+0.0122%	4h	30.783	+0.006%	$1.3M	$1.5M	25x	as long as short
Phoenix VVV	+0.0209%	1h	30.802	+0.068%	$32K	$243K	5x	as long as short
Kalshi KXVVVPERP	+0.0249%	8h	30.793	+0.039%	$94K	$5.5M	1.7x	as long as short
GMX VVV/USD [ETH-USDC]	L +0.0427% / S −0.0176%	1h	30.771	−0.033%	$537K	—	100x	as long as short
Backpack VVV_USDC_PERP	+0.0475%	1h	30.768	−0.043%	$120K	$240K	5x	as long as short