VVV

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0046%/8h= −5.0% APRnext payment −$0.06 per $10,000 · paid last 24h +0.062%

Price spread now: Phoenix against Coinbase International−0.280%72s7-day average +0.011% · you buy dearer than you sell

Net, funding: paid 7d − costs−$76as 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−$1031.035% of the position

Long on Coinbase International Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 7 days+0.272%+$27 on $10k

Price spread, last 3 days (all we have)+0.528%+$53 · spread now −0.280%, 7d avg +0.011%

Together, before fees+0.800%+$80 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Phoenix is 0.292% cheaper against Coinbase International than usual: you would sell low and buy high (−$29 if the spread goes back to its 7-day average of +0.011%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.272%, so the current rate has only just turned against you. The two prices were read 72 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	Coinbase International VVV-PERP-INTX	32.185	0.0144	pay 0.0018% / 1h	17m 56s	$226K	$1.3M	25x
Short	Phoenix VVV	32.095	0.0098	get 0.0012% / 1h	17m 56s	$56K	$294K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix 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 PhoenixbpOrdersPrice spread, now −0.280%Rate

Funding earned: −$9.56
Price spread: −0.280% → +0.011%: −$29.16
Slippage, 4 orders: −$86.48
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: −$142.2
Costs to cover: 1.035%
Break-even: never at this rate

Slippage from Coinbase International: live order book, 6 min ago; Phoenix: live order book, 62 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, 6 min ago	26.53 bp	32.5 bp −$32	36.3 bp −$363	doesn't fit	doesn't fit
Sell Phoenix live order book, 62 min ago	3.12 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
Deribit VVV_USDC-PERPETUAL	−0.0027%	1h	32.117	−0.212%	$91K	$23K	10x	as long as short
Kalshi KXVVVPERP	0.0000%	8h	32.176	−0.029%	$107K	$6.9M	1.7x	as long as short
gTrade (Gains Network) VVV/USD	L +0.0004% / S −0.0004%	1h	32.117	−0.213%	$19K	—	150x	as long as short
Injective VVV/USDC PERP	+0.0033%	1h	32.820	+1.972%	$2K	$1K	5.5x	as long as short
BloFin VVV-USDT	+0.0093%	4h	32.108	−0.240%	$1.3M	$1.8M	25x	as long as short
Lighter VVV	+0.0096%	1h	32.122	−0.196%	$2.3M	$5.5M	5x	as long as short
Lighter RH VVV	+0.0096%	1h	32.108	−0.240%	$477K	$1.6M	5x	as long as short
Phoenix VVVshort	+0.0098%	1h	32.095	−0.280%	$56K	$294K	5x
Nado VVV-PERP	+0.0100%	1h	32.121	−0.199%	$148K	$783K	3x	as long as short
Aster VVVUSDT	+0.0100%	4h	32.101	−0.263%	$264K	$1.9M	10x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica VVV	+0.0100%	1h	32.143	−0.131%	$184K	$183K	10x	as long as short
Binance VVVUSDT	+0.0100%	4h	32.119	−0.204%	$33.6M	$157.5M	25x	as long as short
Bybit VVVUSDT	+0.0100%	4h	32.120	−0.202%	$39.5M	$52.8M	20x	as long as short
OKX VVV-USDT-SWAP	+0.0100%	4h	32.151	−0.106%	$4.7M	$42.7M	20x	as long as short
Gate VVV_USDT	+0.0100%	4h	32.121	−0.199%	$10.8M	$7.8M	25x	as long as short
MEXC VVV_USDT	+0.0100%	4h	32.116	−0.215%	$6.3M	$7.1M	50x	as long as short
KuCoin VVVUSDTM	+0.0100%	4h	32.116	−0.215%	$2.0M	$2.9M	20x	as long as short
Bitget VVVUSDT	+0.0100%	4h	32.095	−0.280%	$5.8M	$8.9M	20x	as long as short
BingX VVV-USDT	+0.0100%	4h	32.135	−0.156%	—	$5.5M	—	as long as short
Variational Omni VVV	+0.0100%	4h	32.091	−0.293%	$2.1M	$183K	—	as long as short
Polymarket Perps VVV-USD	+0.0100%	1h	32.104	−0.252%	$138K	$1.2M	3x	as long as short
Derive VVV-PERP	+0.0100%	1h	32.123	−0.192%	$1K	$1K	5x	as long as short
Phemex VVVUSDT	+0.0100%	4h	32.122	−0.196%	$2.1M	$2.1M	50x	as long as short
Paradex VVV-USD-PERP	+0.0100%	8h	32.141	−0.136%	$3K	$106	5x	as long as short
Extended VVV-USD	+0.0104%	1h	32.097	−0.275%	$317K	$1.6M	5x	as long as short
Aevo VVV-PERP	+0.0104%	1h	32.114	−0.223%	$6K	$13K	3x	as long as short
edgeX VVVUSDC	+0.0109%	4h	32.083	−0.318%	$80K	$333K	10x	as long as short
Coinbase International VVV-PERP-INTXlong	+0.0144%	1h	32.185	long leg	$226K	$1.3M	25x
RISEx VVV/USDC	+0.0175%	1h	32.113	−0.225%	$394K	$598K	5x	as long as short
GMX VVV/USD [ETH-USDC]	L +0.0187% / S +0.0167%	1h	32.115	−0.219%	$618K	—	100x	as long as short
Backpack VVV_USDC_PERP	+0.0222%	1h	32.128	−0.178%	$121K	$374K	5x	as long as short
Hyperliquid VVV	+0.0328%	1h	32.118	−0.209%	$74.5M	$56.1M	3x	as long as short
01 Exchange VVVUSD	+0.0352%	1h	32.100	−0.265%	$11K	$3K	3x	as long as short