Funding arb · Price arb /

VVV

all VVV markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0128%/8h= +14.0% APRpaid last 24h +0.052%

Price spread now: Phoenix against Gate−0.229%107s7-day average +0.095% · you buy dearer than you sell

Net, funding: paid 7d − costs−$43as 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−$890.888% of the position

Long on Gate Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 7 days+0.460%+$46 on $10k

Price spread, last 3 days (all we have)+0.256%+$26 · spread now −0.229%, 7d avg +0.095%

Together, before fees+0.716%+$72 on $10k · with fees, hour by hour

Funding pays, the price is against you. Phoenix is 0.324% cheaper against Gate than usual: you would sell low and buy high (spread −0.229% now, against its 7-day average of +0.095%). If the spread goes back, that is −$32 on $10k: about 8.4 days of funding at the current rate (+$4 a day). The two prices were read 107 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	Gate VVV_USDT	31.940	−0.0128	get 0.0064% / 4h	3h 07m	$10.7M	$7.4M	25x
Short	Phoenix VVV	31.867	0	get 0.0000% / 1h	7m 43s	$56K	$298K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix against Gate. 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 GatebpFee PhoenixbpOrdersPrice spread, now −0.229%Rate

Funding earned: $26.88
Price spread: −0.229% → +0.095%: −$32.35
Slippage, 4 orders: −$66.81
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: −$94.28
Costs to cover: 0.888%
Break-even: 31.6 days

Slippage from Gate: live order book, 1 min ago; Phoenix: live order book, 63 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 Gate live order book, 1 min ago	4.55 bp	21.8 bp −$22	579.6 bp −$5,796	doesn't fit	doesn't fit
Sell Phoenix live order book, 63 min ago	3.13 bp	19.8 bp −$20	57.3 bp −$573	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
Polymarket Perps VVV-USD	−0.0235%	1h	31.894	−0.144%	$159K	$1.2M	3x	as long as short
Bybit VVVUSDT	−0.0202%	4h	31.929	−0.034%	$39.0M	$51.6M	20x	as long as short
Gate VVV_USDTlong	−0.0128%	4h	31.940	long leg	$10.7M	$7.4M	25x
RISEx VVV/USDC	−0.0015%	1h	31.938	−0.008%	$393K	$600K	5x	as long as short
01 Exchange VVVUSD	0.0000%	1h	31.938	−0.006%	$11K	$3K	3x	as long as short
Kalshi KXVVVPERP	0.0000%	8h	31.921	−0.059%	$114K	$6.5M	1.7x	as long as short
Phoenix VVVshort	0.0000%	1h	31.867	−0.229%	$56K	$298K	5x
Deribit VVV_USDC-PERPETUAL	0.0000%	1h	31.907	−0.105%	$89K	$24K	10x	as long as short
gTrade (Gains Network) VVV/USD	L +0.0004% / S −0.0004%	1h	31.923	−0.052%	$19K	—	150x	as long as short
Injective VVV/USDC PERP	+0.0033%	1h	32.820	+2.755%	$2K	$1K	5.5x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BloFin VVV-USDT	+0.0045%	4h	31.896	−0.138%	$1.3M	$1.8M	25x	as long as short
Lighter VVV	+0.0096%	1h	31.924	−0.049%	$2.2M	$5.9M	5x	as long as short
Lighter RH VVV	+0.0096%	1h	31.917	−0.072%	$472K	$1.6M	5x	as long as short
Nado VVV-PERP	+0.0100%	1h	31.921	−0.059%	$125K	$850K	3x	as long as short
Hyperliquid VVV	+0.0100%	1h	31.955	+0.047%	$74.2M	$54.9M	3x	as long as short
Aster VVVUSDT	+0.0100%	4h	31.932	−0.027%	$260K	$1.9M	10x	as long as short
Pacifica VVV	+0.0100%	1h	31.959	+0.061%	$191K	$183K	10x	as long as short
Binance VVVUSDT	+0.0100%	4h	31.941	+0.002%	$33.5M	$154.2M	25x	as long as short
OKX VVV-USDT-SWAP	+0.0100%	4h	31.958	+0.056%	$4.7M	$41.5M	20x	as long as short
MEXC VVV_USDT	+0.0100%	4h	31.947	+0.022%	$6.5M	$7.0M	50x	as long as short
KuCoin VVVUSDTM	+0.0100%	4h	31.953	+0.041%	$2.0M	$2.8M	20x	as long as short
Bitget VVVUSDT	+0.0100%	4h	31.934	−0.019%	$5.8M	$8.9M	20x	as long as short
BingX VVV-USDT	+0.0100%	4h	31.942	+0.006%	—	$5.4M	—	as long as short
Backpack VVV_USDC_PERP	+0.0100%	1h	31.937	−0.008%	$123K	$335K	5x	as long as short
Variational Omni VVV	+0.0100%	4h	31.923	−0.052%	$2.1M	$190K	—	as long as short
Derive VVV-PERP	+0.0100%	1h	31.915	−0.077%	$3K	$3K	5x	as long as short
Phemex VVVUSDT	+0.0100%	4h	31.932	−0.025%	$2.1M	$2.1M	50x	as long as short
Paradex VVV-USD-PERP	+0.0100%	8h	31.944	+0.014%	$3K	$106	5x	as long as short
Extended VVV-USD	+0.0104%	1h	31.940	−0.001%	$304K	$2.0M	5x	as long as short
Aevo VVV-PERP	+0.0104%	1h	31.904	−0.113%	$6K	—	3x	as long as short
edgeX VVVUSDC	+0.0117%	4h	31.953	+0.042%	$79K	$333K	10x	as long as short
GMX VVV/USD [ETH-USDC]	L +0.0178% / S +0.0121%	1h	31.915	−0.078%	$578K	—	100x	as long as short
Coinbase International VVV-PERP-INTX	+0.0320%	1h	31.927	−0.040%	$245K	$1.2M	25x	as long as short