Funding arb · Price arb /

VVV

all VVV markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0198%/8h= +21.7% APRpaid last 24h +0.011%

Price spread now: Phoenix against edgeX+0.138%7-day average +0.003% · you sell dearer than you buy

Net, funding: paid 7d − costs−$97as in the Funding arb table

Net, price: spread back to 7d avg − costs−$109as in the Price arb table

costs, in and out, $10k−$1231.226% of the position

Long on edgeX Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 7 days+0.255%+$26 on $10k

Price spread, last 4 days (all we have)−0.074%−$7 · spread now +0.138%, 7d avg +0.003%

Together, before fees+0.181%+ Points / potential airdropedgeX: Active · farm board+$18 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$6 a day on $10k at the current rate, and Phoenix is 0.135% dearer against edgeX than usual: you sell high and buy low: +$14 more if the spread goes back to its 7-day average of +0.003%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	edgeX VVVUSDC	31.654	0.0109	pay 0.0055% / 4h	1h 02m	$79K	$332K	10x
Short	Phoenix VVV	31.698	0.0307	get 0.0038% / 1h	2m 53s	$33K	$232K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix against edgeX. 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 edgeXbpFee PhoenixbpOrdersPrice spread, now +0.138%Rate

Funding earned: $41.58
Price spread: +0.138% → +0.003%: $13.53
Slippage, 4 orders: −$106.58
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: −$67.47
Costs to cover: 1.226%
Break-even: 18.4 days

Slippage from edgeX: live order book, 40 min ago; Phoenix: live order book, 37 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 edgeX live order book, 40 min ago	0.95 bp	47.9 bp −$48	doesn't fit	doesn't fit	doesn't fit
Sell Phoenix live order book, 37 min ago	2.86 bp	19.8 bp −$20	57.5 bp −$575	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
Coinbase International VVV-PERP-INTX	−0.0088%	1h	31.568	−0.272%	$188K	$1.3M	25x	as long as short
RISEx VVV/USDC	−0.0085%	1h	31.596	−0.183%	$387K	$652K	5x	as long as short
01 Exchange VVVUSD	−0.0016%	1h	31.619	−0.112%	$11K	$2K	3x	as long as short
Deribit VVV_USDC-PERPETUAL	−0.0013%	1h	31.608	−0.146%	$88K	$22K	10x	as long as short
Kalshi KXVVVPERP	0.0000%	8h	31.635	−0.061%	$92K	$5.4M	1.7x	as long as short
gTrade (Gains Network) VVV/USD	L +0.0004% / S −0.0004%	1h	31.643	−0.037%	$19K	—	150x	as long as short
Injective VVV/USDC PERP	+0.0033%	1h	32.820	+3.682%	$2K	$1K	5.5x	as long as short
BloFin VVV-USDT	+0.0094%	4h	31.620	−0.109%	$1.4M	$1.5M	25x	as long as short
Lighter VVV	+0.0096%	1h	31.610	−0.142%	$2.0M	$4.6M	5x	as long as short
Lighter RH VVV	+0.0096%	1h	31.609	−0.143%	$465K	$1.6M	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	31.614	−0.128%	$3K	$73	5x	as long as short
Nado VVV-PERP	+0.0100%	1h	31.623	−0.097%	$143K	$924K	3x	as long as short
Hyperliquid VVV	+0.0100%	1h	31.651	−0.011%	$70.9M	$46.1M	3x	as long as short
Aster VVVUSDT	+0.0100%	4h	31.625	−0.091%	$251K	$947K	10x	as long as short
Pacifica VVV	+0.0100%	1h	31.640	−0.044%	$187K	$126K	10x	as long as short
Binance VVVUSDT	+0.0100%	4h	31.617	−0.118%	$34.0M	$117.8M	25x	as long as short
Bybit VVVUSDT	+0.0100%	4h	31.586	−0.216%	$38.6M	$40.7M	20x	as long as short
OKX VVV-USDT-SWAP	+0.0100%	4h	31.602	−0.165%	$4.9M	$29.8M	20x	as long as short
Gate VVV_USDT	+0.0100%	4h	31.591	−0.200%	$11.5M	$5.5M	25x	as long as short
MEXC VVV_USDT	+0.0100%	4h	31.615	−0.124%	$6.9M	$5.7M	50x	as long as short
KuCoin VVVUSDTM	+0.0100%	4h	31.631	−0.074%	$1.7M	$2.8M	20x	as long as short
Bitget VVVUSDT	+0.0100%	4h	31.601	−0.169%	$5.8M	$6.8M	20x	as long as short
BingX VVV-USDT	+0.0100%	4h	31.613	−0.131%	—	$4.8M	—	as long as short
Variational Omni VVV	+0.0100%	4h	31.664	+0.030%	$2.0M	$354K	—	as long as short
Polymarket Perps VVV-USD	+0.0100%	1h	31.618	−0.115%	$122K	$1.4M	3x	as long as short
Derive VVV-PERP	+0.0100%	1h	31.624	−0.095%	$3K	$3K	5x	as long as short
Phemex VVVUSDT	+0.0100%	4h	31.622	−0.102%	$2.0M	$2.1M	50x	as long as short
Extended VVV-USD	+0.0104%	1h	31.604	−0.158%	$302K	$1.2M	5x	as long as short
Aevo VVV-PERP	+0.0104%	1h	31.638	−0.053%	$6K	—	3x	as long as short
edgeX VVVUSDClong	+0.0109%	4h	31.654	long leg	$79K	$332K	10x
Phoenix VVVshort	+0.0307%	1h	31.698	+0.138%	$33K	$232K	5x
Backpack VVV_USDC_PERP	+0.0412%	1h	31.629	−0.079%	$155K	$269K	5x	as long as short
GMX VVV/USD [ETH-USDC]	L +0.0436% / S −0.0207%	1h	31.610	−0.140%	$508K	—	100x	as long as short