Funding arb · Price arb /

VVV

all VVV markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0103%/8h= +11.2% APRpaid last 24h +0.012%

Price spread now: Phoenix against MEXC−0.009%7-day average +0.020% · you buy dearer than you sell

Net, funding: paid 7d − costs−$24as in the Funding arb table

Net, price: spread back to 7d avg − costs−$55as in the Price arb table

costs, in and out, $10k−$520.520% of the position

Long on MEXC Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 7 days+0.277%+$28 on $10k

Price spread, last 4 days (all we have)+0.654%+$65 · spread now −0.009%, 7d avg +0.020%

Together, before fees+0.931%+$93 on $10k · with fees, hour by hour

Funding pays, the price is against you. Phoenix is 0.030% cheaper against MEXC than usual: you would sell low and buy high (spread −0.009% now, against its 7-day average of +0.020%). If the spread goes back, that is −$3 on $10k: about 23 hours of funding at the current rate (+$3 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC VVV_USDT	31.582	0.0100	pay 0.0050% / 4h	17m 23s	$6.9M	$5.4M	50x
Short	Phoenix VVV	31.579	0.0203	get 0.0025% / 1h	17m 23s	$33K	$215K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix against MEXC. 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 MEXCbpFee PhoenixbpOrdersPrice spread, now −0.009%Rate

Funding earned: $21.54
Price spread: −0.009% → +0.020%: −$2.98
Slippage, 4 orders: −$44.99
Fee MEXC: 0 bp × 2 orders: $0
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: −$33.44
Costs to cover: 0.520%
Break-even: 17.9 days

Slippage from MEXC: live order book, just now; Phoenix: live order book, 17 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 MEXC live order book, just now	0.16 bp	5.2 bp −$5	56.4 bp −$564	205.3 bp −$20.5K	doesn't fit
Sell Phoenix live order book, 17 min ago	2.84 bp	19.7 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
RISEx VVV/USDC	−0.0337%	1h	31.538	−0.141%	$387K	$666K	5x	as long as short
Coinbase International VVV-PERP-INTX	−0.0040%	1h	31.573	−0.028%	$188K	$1.3M	25x	as long as short
Kalshi KXVVVPERP	0.0000%	8h	31.645	+0.199%	$96K	$5.4M	1.7x	as long as short
Deribit VVV_USDC-PERPETUAL	0.0000%	1h	31.593	+0.035%	$88K	$22K	10x	as long as short
gTrade (Gains Network) VVV/USD	L +0.0004% / S −0.0004%	1h	31.553	−0.091%	$19K	—	150x	as long as short
Injective VVV/USDC PERP	+0.0033%	1h	32.820	+3.920%	$2K	$1K	5.5x	as long as short
Gate VVV_USDT	+0.0048%	4h	31.545	−0.117%	$11.7M	$5.2M	25x	as long as short
Lighter VVV	+0.0096%	1h	31.560	−0.071%	$1.9M	$4.2M	5x	as long as short
Lighter RH VVV	+0.0096%	1h	31.560	−0.070%	$465K	$1.6M	5x	as long as short
Paradex VVV-USD-PERP	+0.0100%	8h	31.556	−0.082%	$3K	$73	5x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado VVV-PERP	+0.0100%	1h	31.574	−0.024%	$163K	$951K	3x	as long as short
Hyperliquid VVV	+0.0100%	1h	31.599	+0.054%	$70.6M	$44.4M	3x	as long as short
Aster VVVUSDT	+0.0100%	4h	31.588	+0.019%	$250K	$623K	10x	as long as short
Pacifica VVV	+0.0100%	1h	31.574	−0.026%	$186K	$122K	10x	as long as short
Binance VVVUSDT	+0.0100%	4h	31.573	−0.028%	$33.7M	$112.9M	25x	as long as short
Bybit VVVUSDT	+0.0100%	4h	31.550	−0.101%	$38.4M	$39.9M	20x	as long as short
OKX VVV-USDT-SWAP	+0.0100%	4h	31.560	−0.070%	$4.8M	$28.2M	20x	as long as short
MEXC VVV_USDTlong	+0.0100%	4h	31.582	long leg	$6.9M	$5.4M	50x
KuCoin VVVUSDTM	+0.0100%	4h	31.573	−0.028%	$1.7M	$2.7M	20x	as long as short
Bitget VVVUSDT	+0.0100%	4h	31.555	−0.085%	$5.7M	$6.5M	20x	as long as short
BingX VVV-USDT	+0.0100%	4h	31.577	−0.016%	—	$4.7M	—	as long as short
Variational Omni VVV	+0.0100%	4h	31.486	−0.304%	$2.0M	$356K	—	as long as short
Polymarket Perps VVV-USD	+0.0100%	1h	31.548	−0.108%	$122K	$1.4M	3x	as long as short
Derive VVV-PERP	+0.0100%	1h	31.576	−0.018%	$3K	$3K	5x	as long as short
Phemex VVVUSDT	+0.0100%	4h	31.597	+0.047%	$2.0M	$2.1M	50x	as long as short
Extended VVV-USD	+0.0104%	1h	31.566	−0.050%	$299K	$1.9M	5x	as long as short
Aevo VVV-PERP	+0.0104%	1h	31.599	+0.054%	$6K	—	3x	as long as short
edgeX VVVUSDC	+0.0106%	4h	31.626	+0.139%	$79K	$331K	10x	as long as short
BloFin VVV-USDT	+0.0137%	4h	31.648	+0.209%	$1.4M	$1.4M	25x	as long as short
01 Exchange VVVUSD	+0.0144%	1h	31.574	−0.025%	$11K	$2K	3x	as long as short
Phoenix VVVshort	+0.0203%	1h	31.579	−0.009%	$33K	$215K	5x
Backpack VVV_USDC_PERP	+0.0402%	1h	31.607	+0.080%	$160K	$272K	5x	as long as short
GMX VVV/USD [ETH-USDC]	L +0.0441% / S −0.0213%	1h	31.591	+0.030%	$508K	—	100x	as long as short