Funding arb · Price arb /

VVV

all VVV markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.027%

Price spread now: Phemex against BingX+0.053%7-day average +0.021% · you sell dearer than you buy

Net, funding: paid 7d − costs−$109as in the Funding arb table

Net, price: spread back to 7d avg − costs−$100as in the Price arb table

costs, in and out, $10k−$1031.029% of the position

Long on BingX Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days−0.060%−$6 on $10k

Price spread, last 3 days (all we have)−0.099%−$10 · spread now +0.053%, 7d avg +0.021%

Together, before fees−0.160%−$16 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Phemex is 0.031% dearer against BingX than usual: you sell high and buy low, +$3 on $10k if it goes back to its 7-day average of +0.021%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX VVV-USDT	32.259	0.0100	pay 0.0050% / 4h	1h 13m	—	$5.5M	—
Short	Phemex VVVUSDT	32.276	0.0100	get 0.0050% / 4h	1h 13m	$2.1M	$2.1M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against BingX. 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 BingXbpFee PhemexbpOrdersPrice spread, now +0.053%Rate

Funding earned: $0
Price spread: +0.053% → +0.021%: $3.13
Slippage, 4 orders: −$80.95
Fee BingX: 5 bp × 2 orders: −$10
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$99.81
Costs to cover: 1.029%
Break-even: never at this rate

Slippage from BingX: live order book, 1 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 BingX live order book, 1 min ago	0.62 bp	10.7 bp −$11	32.5 bp −$325	287.2 bp −$28.7K	705.4 bp −$352.7K
Sell Phemex live order book, 4 min ago	1.40 bp	37.8 bp −$38	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
Deribit VVV_USDC-PERPETUAL	0.0000%	1h	32.285	+0.080%	$91K	$23K	10x	as long as short
gTrade (Gains Network) VVV/USD	L +0.0004% / S −0.0004%	1h	32.295	+0.110%	$19K	—	150x	as long as short
Injective VVV/USDC PERP	+0.0033%	1h	32.820	+1.739%	$2K	$1K	5.5x	as long as short
Lighter VVV	+0.0096%	1h	32.293	+0.104%	$2.3M	$5.5M	5x	as long as short
Lighter RH VVV	+0.0096%	1h	32.284	+0.077%	$480K	$1.6M	5x	as long as short
Phoenix VVV	+0.0098%	1h	32.131	−0.397%	$56K	$294K	5x	as long as short
Nado VVV-PERP	+0.0100%	1h	32.297	+0.119%	$149K	$783K	3x	as long as short
Aster VVVUSDT	+0.0100%	4h	32.271	+0.037%	$265K	$1.9M	10x	as long as short
Pacifica VVV	+0.0100%	1h	32.305	+0.142%	$185K	$183K	10x	as long as short
Binance VVVUSDT	+0.0100%	4h	32.264	+0.017%	$33.7M	$157.6M	25x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit VVVUSDT	+0.0100%	4h	32.234	−0.077%	$39.7M	$52.8M	20x	as long as short
OKX VVV-USDT-SWAP	+0.0100%	4h	32.242	−0.053%	$4.7M	$42.9M	20x	as long as short
Gate VVV_USDT	+0.0100%	4h	32.255	−0.012%	$10.9M	$7.8M	25x	as long as short
MEXC VVV_USDT	+0.0100%	4h	32.269	+0.031%	$6.3M	$7.1M	50x	as long as short
KuCoin VVVUSDTM	+0.0100%	4h	32.281	+0.068%	$2.0M	$2.9M	20x	as long as short
Bitget VVVUSDT	+0.0100%	4h	32.236	−0.071%	$5.9M	$9.0M	20x	as long as short
BingX VVV-USDTlong	+0.0100%	4h	32.259	long leg	—	$5.5M	—
Variational Omni VVV	+0.0100%	4h	32.172	−0.268%	$2.1M	$183K	—	as long as short
Polymarket Perps VVV-USD	+0.0100%	1h	32.288	+0.090%	$139K	$1.2M	3x	as long as short
Derive VVV-PERP	+0.0100%	1h	32.291	+0.099%	$1K	$1K	5x	as long as short
Phemex VVVUSDTshort	+0.0100%	4h	32.276	+0.053%	$2.1M	$2.1M	50x
Kalshi KXVVVPERP	+0.0100%	8h	32.306	+0.146%	$109K	$6.9M	1.7x	as long as short
Paradex VVV-USD-PERP	+0.0100%	8h	32.324	+0.202%	$3K	$106	5x	as long as short
Extended VVV-USD	+0.0104%	1h	32.234	−0.076%	$325K	$1.6M	5x	as long as short
Aevo VVV-PERP	+0.0104%	1h	32.283	+0.075%	$6K	$13K	3x	as long as short
BloFin VVV-USDT	+0.0112%	4h	32.300	+0.127%	$1.3M	$1.8M	25x	as long as short
edgeX VVVUSDC	+0.0112%	4h	32.191	−0.212%	$80K	$333K	10x	as long as short
Coinbase International VVV-PERP-INTX	+0.0144%	1h	32.319	+0.186%	$239K	$1.3M	25x	as long as short
RISEx VVV/USDC	+0.0175%	1h	32.298	+0.122%	$398K	$603K	5x	as long as short
GMX VVV/USD [ETH-USDC]	L +0.0186% / S +0.0168%	1h	32.295	+0.111%	$621K	—	100x	as long as short
Backpack VVV_USDC_PERP	+0.0229%	1h	32.299	+0.125%	$122K	$373K	5x	as long as short
Hyperliquid VVV	+0.0296%	1h	32.264	+0.015%	$74.9M	$56.1M	3x	as long as short
01 Exchange VVVUSD	+0.0336%	1h	32.305	+0.143%	$12K	$3K	3x	as long as short