Funding arb · Price arb /

VVV

all VVV markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h −0.025%

Price spread now: Phemex against Extended−0.003%7-day average +0.051% · you buy dearer than you sell

Net, funding: paid 7d − costs−$135as in the Funding arb table

Net, price: spread back to 7d avg − costs−$134as in the Price arb table

costs, in and out, $10k−$1281.282% of the position

Long on Extended Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days−0.066%−$7 on $10k

Price spread, last 3 days (all we have)+0.128%+$13 · spread now −0.003%, 7d avg +0.051%

Together, before fees+0.063%+ Points / potential airdropExtended: Active · farm board+$6 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 0.055% cheaper against Extended than usual: you would sell low and buy high, −$5 on $10k if it goes back to its 7-day average of +0.051%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended VVV-USD	32.194	0.0104	pay 0.0013% / 1h	6m 13s	$323K	$1.6M	5x
Short	Phemex VVVUSDT	32.193	0.0100	get 0.0050% / 4h	1h 06m	$2.1M	$2.1M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against Extended. 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 ExtendedbpFee PhemexbpOrdersPrice spread, now −0.003%Rate

Funding earned: −$0.84
Price spread: −0.003% → +0.051%: −$5.45
Slippage, 4 orders: −$111.19
Fee Extended: 2.5 bp × 2 orders: −$5
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$134.48
Costs to cover: 1.282%
Break-even: never at this rate

Slippage from Extended: live order book, 2 min ago; Phemex: live order book, 2 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 Extended live order book, 2 min ago	2.09 bp	21.7 bp −$22	181.6 bp −$1,816	doesn't fit	doesn't fit
Sell Phemex live order book, 2 min ago	2.80 bp	40.8 bp −$41	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	−0.0110%	1h	32.186	−0.024%	$91K	$23K	10x	as long as short
Kalshi KXVVVPERP	0.0000%	8h	32.233	+0.121%	$108K	$6.9M	1.7x	as long as short
gTrade (Gains Network) VVV/USD	L +0.0004% / S −0.0004%	1h	32.204	+0.031%	$19K	—	150x	as long as short
Injective VVV/USDC PERP	+0.0033%	1h	32.820	+1.945%	$2K	$1K	5.5x	as long as short
BloFin VVV-USDT	+0.0083%	4h	32.207	+0.040%	$1.3M	$1.8M	25x	as long as short
Lighter VVV	+0.0096%	1h	32.231	+0.115%	$2.3M	$5.5M	5x	as long as short
Lighter RH VVV	+0.0096%	1h	32.199	+0.016%	$479K	$1.6M	5x	as long as short
Phoenix VVV	+0.0098%	1h	32.243	+0.152%	$56K	$294K	5x	as long as short
Nado VVV-PERP	+0.0100%	1h	32.231	+0.115%	$149K	$783K	3x	as long as short
Aster VVVUSDT	+0.0100%	4h	32.218	+0.076%	$265K	$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	32.238	+0.138%	$193K	$191K	10x	as long as short
Binance VVVUSDT	+0.0100%	4h	32.209	+0.047%	$33.7M	$157.3M	25x	as long as short
Bybit VVVUSDT	+0.0100%	4h	32.191	−0.009%	$39.6M	$52.8M	20x	as long as short
OKX VVV-USDT-SWAP	+0.0100%	4h	32.193	−0.003%	$4.7M	$42.8M	20x	as long as short
Gate VVV_USDT	+0.0100%	4h	32.208	+0.044%	$10.8M	$7.8M	25x	as long as short
MEXC VVV_USDT	+0.0100%	4h	32.206	+0.037%	$6.3M	$7.1M	50x	as long as short
KuCoin VVVUSDTM	+0.0100%	4h	32.192	−0.006%	$2.0M	$2.9M	20x	as long as short
Bitget VVVUSDT	+0.0100%	4h	32.199	+0.016%	$5.9M	$8.9M	20x	as long as short
BingX VVV-USDT	+0.0100%	4h	32.206	+0.037%	—	$5.5M	—	as long as short
Variational Omni VVV	+0.0100%	4h	32.187	−0.023%	$2.1M	$183K	—	as long as short
Polymarket Perps VVV-USD	+0.0100%	1h	32.210	+0.050%	$145K	$1.2M	3x	as long as short
Derive VVV-PERP	+0.0100%	1h	32.196	+0.007%	$1K	$1K	5x	as long as short
Phemex VVVUSDTshort	+0.0100%	4h	32.193	−0.003%	$2.1M	$2.1M	50x
Paradex VVV-USD-PERP	+0.0100%	8h	32.233	+0.122%	$3K	$106	5x	as long as short
Extended VVV-USDlong	+0.0104%	1h	32.194	long leg	$323K	$1.6M	5x
Aevo VVV-PERP	+0.0104%	1h	32.243	+0.153%	$6K	$13K	3x	as long as short
edgeX VVVUSDC	+0.0119%	4h	32.198	+0.012%	$80K	$332K	10x	as long as short
Coinbase International VVV-PERP-INTX	+0.0144%	1h	32.281	+0.270%	$239K	$1.4M	25x	as long as short
RISEx VVV/USDC	+0.0175%	1h	32.217	+0.073%	$396K	$607K	5x	as long as short
GMX VVV/USD [ETH-USDC]	L +0.0185% / S +0.0169%	1h	32.201	+0.022%	$619K	—	100x	as long as short
Backpack VVV_USDC_PERP	+0.0221%	1h	32.226	+0.099%	$122K	$365K	5x	as long as short
Hyperliquid VVV	+0.0223%	1h	32.220	+0.081%	$74.8M	$55.8M	3x	as long as short
01 Exchange VVVUSD	+0.0296%	1h	32.228	+0.106%	$12K	$3K	3x	as long as short