Funding arb · Price arb /

VVV

all VVV markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0024%/8h= +2.7% APRpaid last 24h +0.025%

Price spread now: Phoenix against Binance+0.022%7-day average −0.001% · you sell dearer than you buy

Net, funding: paid 7d − costs−$36as in the Funding arb table

Net, price: spread back to 7d avg − costs−$64as in the Price arb table

costs, in and out, $10k−$670.665% of the position

Long on Binance Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 7 days+0.304%+$30 on $10k

Price spread, last 3 days (all we have)−0.110%−$11 · spread now +0.022%, 7d avg −0.001%

Together, before fees+0.194%+$19 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 Phoenix is 0.023% dearer against Binance than usual: you sell high and buy low: +$2 more if the spread goes back to its 7-day average of −0.001%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance VVVUSDT	32.123	0.0100	pay 0.0050% / 4h	26m 36s	$33.6M	$156.6M	25x
Short	Phoenix VVV	32.130	0.0124	get 0.0016% / 1h	26m 36s	$56K	$299K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix against Binance. 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 BinancebpFee PhoenixbpOrdersPrice spread, now +0.022%Rate

Funding earned: $5.14
Price spread: +0.022% → −0.001%: $2.28
Slippage, 4 orders: −$49.52
Fee Binance: 5 bp × 2 orders: −$10
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: −$59.1
Costs to cover: 0.665%
Break-even: 87.5 days

Slippage from Binance: live order book, 2 min ago; Phoenix: live order book, 49 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 Binance live order book, 2 min ago	0.16 bp	14.2 bp −$14	40.8 bp −$408	doesn't fit	doesn't fit
Sell Phoenix live order book, 49 min ago	3.10 bp	19.7 bp −$20	57.4 bp −$574	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
Kalshi KXVVVPERP	0.0000%	8h	32.149	+0.081%	$110K	$6.9M	1.7x	as long as short
Deribit VVV_USDC-PERPETUAL	0.0000%	1h	32.147	+0.075%	$91K	$23K	10x	as long as short
gTrade (Gains Network) VVV/USD	L +0.0004% / S −0.0004%	1h	32.160	+0.116%	$19K	—	150x	as long as short
Injective VVV/USDC PERP	+0.0033%	1h	32.820	+2.170%	$2K	$1K	5.5x	as long as short
RISEx VVV/USDC	+0.0040%	1h	32.093	−0.095%	$395K	$604K	5x	as long as short
Polymarket Perps VVV-USD	+0.0044%	1h	32.132	+0.028%	$146K	$1.2M	3x	as long as short
01 Exchange VVVUSD	+0.0056%	1h	32.102	−0.065%	$11K	$3K	3x	as long as short
Lighter VVV	+0.0096%	1h	32.138	+0.046%	$2.3M	$5.5M	5x	as long as short
Lighter RH VVV	+0.0096%	1h	32.132	+0.028%	$478K	$1.6M	5x	as long as short
Nado VVV-PERP	+0.0100%	1h	32.132	+0.029%	$127K	$850K	3x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid VVV	+0.0100%	1h	32.184	+0.190%	$74.5M	$55.8M	3x	as long as short
Aster VVVUSDT	+0.0100%	4h	32.170	+0.146%	$264K	$1.9M	10x	as long as short
Pacifica VVV	+0.0100%	1h	32.145	+0.069%	$192K	$191K	10x	as long as short
Binance VVVUSDTlong	+0.0100%	4h	32.123	long leg	$33.6M	$156.6M	25x
Bybit VVVUSDT	+0.0100%	4h	32.086	−0.116%	$39.4M	$52.2M	20x	as long as short
OKX VVV-USDT-SWAP	+0.0100%	4h	32.095	−0.087%	$4.7M	$42.4M	20x	as long as short
Gate VVV_USDT	+0.0100%	4h	32.093	−0.093%	$10.8M	$7.5M	25x	as long as short
MEXC VVV_USDT	+0.0100%	4h	32.125	+0.006%	$6.4M	$7.0M	50x	as long as short
KuCoin VVVUSDTM	+0.0100%	4h	32.141	+0.056%	$2.0M	$2.8M	20x	as long as short
Bitget VVVUSDT	+0.0100%	4h	32.102	−0.065%	$5.8M	$8.9M	20x	as long as short
BingX VVV-USDT	+0.0100%	4h	32.103	−0.062%	—	$5.5M	—	as long as short
Variational Omni VVV	+0.0100%	4h	32.089	−0.107%	$2.1M	$183K	—	as long as short
Derive VVV-PERP	+0.0100%	1h	32.140	+0.054%	$1K	$1K	5x	as long as short
Phemex VVVUSDT	+0.0100%	4h	32.166	+0.134%	$2.1M	$2.1M	50x	as long as short
Paradex VVV-USD-PERP	+0.0100%	8h	32.108	−0.045%	$3K	$106	5x	as long as short
Extended VVV-USD	+0.0104%	1h	32.097	−0.082%	$323K	$1.6M	5x	as long as short
Aevo VVV-PERP	+0.0104%	1h	32.151	+0.086%	$6K	$13K	3x	as long as short
BloFin VVV-USDT	+0.0105%	4h	32.146	+0.072%	$1.3M	$1.8M	25x	as long as short
edgeX VVVUSDC	+0.0106%	4h	32.120	−0.009%	$80K	$332K	10x	as long as short
Phoenix VVVshort	+0.0124%	1h	32.130	+0.022%	$56K	$299K	5x
Backpack VVV_USDC_PERP	+0.0141%	1h	32.197	+0.231%	$122K	$358K	5x	as long as short
GMX VVV/USD [ETH-USDC]	L +0.0180% / S +0.0173%	1h	32.151	+0.086%	$618K	—	100x	as long as short
Coinbase International VVV-PERP-INTX	+0.0192%	1h	32.278	+0.482%	$242K	$1.3M	25x	as long as short