Funding arb · Price arb /

VVV

all VVV markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 19:00 UTC+0.0125%/8hpaid last 24h +0.053%

Price spread now: Phoenix against KuCoin+0.188%93s7-day average +0.050% · you sell dearer than you buy

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−$1141.139% of the position

Long on KuCoin Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 7 days+0.375%+$38 on $10k

Price spread, last 3 days (all we have)+0.519%+$52 · spread now +0.188%, 7d avg +0.050%

Together, before fees+0.894%+$89 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$4 a day on $10k at the current rate, and Phoenix is 0.137% dearer against KuCoin than usual: you sell high and buy low: +$14 more if the spread goes back to its 7-day average of +0.050%. The two prices were read 93 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	KuCoin VVVUSDTM	32.000	0.0100	pay 0.0050% / 4h	23m 58s	$2.0M	$2.5M	20x
Short	Phoenix VVV	32.060	0.0225	get 0.0028% / 1h	23m 58s	$56K	$286K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix against KuCoin. 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 KuCoinbpFee PhoenixbpOrdersPrice spread, now +0.188%Rate

Funding earned: $26.31
Price spread: +0.188% → +0.050%: $13.75
Slippage, 4 orders: −$94.91
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: −$73.84
Costs to cover: 1.139%
Break-even: 26.6 days

Slippage from KuCoin: live order book, 7 min ago; Phoenix: live order book, 5 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 KuCoin live order book, 7 min ago	14.71 bp	40.7 bp −$41	doesn't fit	doesn't fit	doesn't fit
Sell Phoenix live order book, 5 min ago	3.12 bp	19.7 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
Kalshi KXVVVPERP	0.0000%	8h	32.068	+0.212%	$128K	$6.7M	1.7x	as long as short
Deribit VVV_USDC-PERPETUAL	0.0000%	1h	32.065	+0.203%	$92K	$22K	10x	as long as short
gTrade (Gains Network) VVV/USD	L +0.0004% / S −0.0004%	1h	32.074	+0.232%	$19K	—	150x	as long as short
Injective VVV/USDC PERP	+0.0033%	1h	32.820	+2.563%	$2K	$1K	5.5x	as long as short
BloFin VVV-USDT	+0.0059%	4h	31.986	−0.044%	$1.4M	$1.7M	25x	as long as short
Lighter RH VVV	+0.0096%	1h	32.067	+0.209%	$484K	$1.5M	5x	as long as short
Nado VVV-PERP	+0.0100%	1h	32.099	+0.311%	$150K	$776K	3x	as long as short
Aster VVVUSDT	+0.0100%	4h	32.047	+0.147%	$281K	$1.8M	10x	as long as short
Pacifica VVV	+0.0100%	1h	32.085	+0.266%	$184K	$167K	10x	as long as short
Binance VVVUSDT	+0.0100%	4h	32.023	+0.073%	$34.0M	$151.0M	25x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit VVVUSDT	+0.0100%	4h	32.018	+0.055%	$39.8M	$50.4M	20x	as long as short
OKX VVV-USDT-SWAP	+0.0100%	4h	32.000	0.000%	$4.8M	$40.8M	20x	as long as short
Gate VVV_USDT	+0.0100%	4h	31.995	−0.016%	$10.9M	$7.5M	25x	as long as short
MEXC VVV_USDT	+0.0100%	4h	32.035	+0.109%	$17.0M	$6.8M	50x	as long as short
KuCoin VVVUSDTMlong	+0.0100%	4h	32.000	long leg	$2.0M	$2.5M	20x
Bitget VVVUSDT	+0.0100%	4h	32.012	+0.038%	$5.9M	$8.3M	20x	as long as short
BingX VVV-USDT	+0.0100%	4h	32.027	+0.084%	—	$5.2M	—	as long as short
Variational Omni VVV	+0.0100%	4h	31.981	−0.058%	$2.1M	$183K	—	as long as short
Polymarket Perps VVV-USD	+0.0100%	1h	32.070	+0.219%	$137K	$952K	3x	as long as short
Derive VVV-PERP	+0.0100%	1h	32.062	+0.193%	$428	$343	5x	as long as short
Phemex VVVUSDT	+0.0100%	4h	32.051	+0.159%	$2.1M	$2.0M	50x	as long as short
Paradex VVV-USD-PERP	+0.0100%	8h	32.092	+0.288%	$3K	$106	5x	as long as short
edgeX VVVUSDC	+0.0100%	4h	32.021	+0.066%	$80K	$328K	10x	as long as short
Extended VVV-USD	+0.0104%	1h	32.005	+0.015%	$320K	$1.6M	5x	as long as short
Aevo VVV-PERP	+0.0104%	1h	32.053	+0.167%	$6K	$13K	3x	as long as short
Lighter VVV	+0.0168%	1h	32.076	+0.237%	$2.2M	$5.4M	5x	as long as short
RISEx VVV/USDC	+0.0206%	1h	32.092	+0.287%	$393K	$588K	5x	as long as short
Phoenix VVVshort	+0.0225%	1h	32.060	+0.188%	$56K	$286K	5x
Coinbase International VVV-PERP-INTX	+0.0232%	1h	32.086	+0.268%	$198K	$1.1M	25x	as long as short
Backpack VVV_USDC_PERP	+0.0284%	1h	32.080	+0.250%	$144K	$371K	5x	as long as short
GMX VVV/USD [ETH-USDC]	L +0.0445% / S −0.0202%	1h	32.066	+0.207%	$533K	—	100x	as long as short
01 Exchange VVVUSD	+0.0624%	1h	32.132	+0.412%	$11K	$3K	3x	as long as short
Hyperliquid VVV	+0.0696%	1h	32.099	+0.309%	$74.9M	$51.7M	3x	as long as short