Funding arb · Price arb /

VVV

all VVV markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h −0.008%

Price spread now: Phemex against Coinbase International+0.407%7-day average +0.012% · you sell dearer than you buy

Net, funding: paid 7d − costs−$168as in the Funding arb table

Net, price: spread back to 7d avg − costs−$121as in the Price arb table

costs, in and out, $10k−$1611.607% of the position

Long on Coinbase International Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days−0.070%−$7 on $10k

Price spread, last 4 days (all we have)−0.278%−$28 · spread now +0.407%, 7d avg +0.012%

Together, before fees−0.348%−$35 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and Phemex is 0.395% dearer against Coinbase International than usual: you sell high and buy low: +$40 more if the spread goes back to its 7-day average of +0.012%. Mind the row above: over the last 7 days funding on this pair cost −0.070%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International VVV-PERP-INTX	31.334	0	get 0.0000% / 1h	22m 09s	$191K	$1.3M	25x
Short	Phemex VVVUSDT	31.462	0.0100	get 0.0050% / 4h	3h 22m	$2.0M	$2.1M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against Coinbase International. 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 Coinbase InternationalbpFee PhemexbpOrdersPrice spread, now +0.407%Rate

Funding earned: $21
Price spread: +0.407% → +0.012%: $39.53
Slippage, 4 orders: −$138.74
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$100.21
Costs to cover: 1.607%
Break-even: 40.4 days

Slippage from Coinbase International: live order book, 1 min ago; Phemex: live order book, 1 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 Coinbase International live order book, 1 min ago	21.51 bp	33.9 bp −$34	48.0 bp −$480	doesn't fit	doesn't fit
Sell Phemex live order book, 1 min ago	2.23 bp	33.4 bp −$33	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	−0.0349%	1h	31.399	+0.206%	$384K	$689K	5x	as long as short
Gate VVV_USDT	−0.0016%	4h	31.444	+0.349%	$11.9M	$4.8M	25x	as long as short
Kalshi KXVVVPERP	0.0000%	8h	31.437	+0.327%	$92K	$5.3M	1.7x	as long as short
Deribit VVV_USDC-PERPETUAL	0.0000%	1h	31.470	+0.433%	$88K	$20K	10x	as long as short
Coinbase International VVV-PERP-INTXlong	0.0000%	1h	31.334	long leg	$191K	$1.3M	25x
gTrade (Gains Network) VVV/USD	L +0.0004% / S −0.0004%	1h	31.477	+0.454%	$19K	—	150x	as long as short
Injective VVV/USDC PERP	+0.0033%	1h	32.820	+4.741%	$2K	$1K	5.5x	as long as short
BloFin VVV-USDT	+0.0089%	4h	31.432	+0.311%	$1.3M	$1.4M	25x	as long as short
Lighter VVV	+0.0096%	1h	31.460	+0.401%	$1.9M	$4.2M	5x	as long as short
Lighter RH VVV	+0.0096%	1h	31.467	+0.423%	$463K	$1.5M	5x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Paradex VVV-USD-PERP	+0.0100%	8h	31.407	+0.230%	$3K	$29	5x	as long as short
Nado VVV-PERP	+0.0100%	1h	31.456	+0.389%	$188K	$1.0M	3x	as long as short
Hyperliquid VVV	+0.0100%	1h	31.493	+0.506%	$69.8M	$42.2M	3x	as long as short
Aster VVVUSDT	+0.0100%	4h	31.452	+0.374%	$247K	$495K	10x	as long as short
Pacifica VVV	+0.0100%	1h	31.416	+0.259%	$185K	$118K	10x	as long as short
Binance VVVUSDT	+0.0100%	4h	31.475	+0.448%	$33.5M	$105.5M	25x	as long as short
Bybit VVVUSDT	+0.0100%	4h	31.459	+0.398%	$38.3M	$38.4M	20x	as long as short
OKX VVV-USDT-SWAP	+0.0100%	4h	31.475	+0.448%	$4.9M	$25.5M	20x	as long as short
MEXC VVV_USDT	+0.0100%	4h	31.470	+0.432%	$7.0M	$4.9M	50x	as long as short
KuCoin VVVUSDTM	+0.0100%	4h	31.465	+0.416%	$1.7M	$2.7M	20x	as long as short
Bitget VVVUSDT	+0.0100%	4h	31.466	+0.420%	$5.7M	$6.2M	20x	as long as short
BingX VVV-USDT	+0.0100%	4h	31.467	+0.423%	—	$4.4M	—	as long as short
Variational Omni VVV	+0.0100%	4h	31.232	−0.326%	$2.0M	$362K	—	as long as short
Polymarket Perps VVV-USD	+0.0100%	1h	31.472	+0.439%	$130K	$1.3M	3x	as long as short
Derive VVV-PERP	+0.0100%	1h	31.083	−0.803%	$3K	$3K	5x	as long as short
Phemex VVVUSDTshort	+0.0100%	4h	31.462	+0.407%	$2.0M	$2.1M	50x
Extended VVV-USD	+0.0104%	1h	31.473	+0.441%	$292K	$1.8M	5x	as long as short
Aevo VVV-PERP	+0.0104%	1h	31.556	+0.708%	$6K	—	3x	as long as short
edgeX VVVUSDC	+0.0119%	4h	31.242	−0.296%	$78K	$323K	10x	as long as short
Phoenix VVV	+0.0229%	1h	31.276	−0.187%	$32K	$201K	5x	as long as short
01 Exchange VVVUSD	+0.0256%	1h	31.426	+0.292%	$11K	$2K	3x	as long as short
GMX VVV/USD [ETH-USDC]	L +0.0444% / S −0.0219%	1h	31.394	+0.188%	$505K	—	100x	as long as short
Backpack VVV_USDC_PERP	+0.0753%	1h	31.511	+0.563%	$168K	$262K	5x	as long as short