Funding arb · Price arb /

VVV

all VVV markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0109%/8h= +11.9% APRpaid last 24h +0.039%

Price spread now: Phoenix against OKX+0.169%86s7-day average +0.062% · you sell dearer than you buy

Net, funding: paid 7d − costs−$36as 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−$700.697% of the position

Long on OKX Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 7 days+0.337%+$34 on $10k

Price spread, last 4 days (all we have)−0.322%−$32 · spread now +0.169%, 7d avg +0.062%

Together, before fees+0.016%+$2 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and Phoenix is 0.107% dearer against OKX than usual: you sell high and buy low: +$11 more if the spread goes back to its 7-day average of +0.062%. The two prices were read 86 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	OKX VVV-USDT-SWAP	30.718	0.0100	pay 0.0050% / 4h	2h 30m	$4.8M	$30.5M	20x
Short	Phoenix VVV	30.770	0.0209	get 0.0026% / 1h	30m 03s	$32K	$243K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix against OKX. 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 OKXbpFee PhoenixbpOrdersPrice spread, now +0.169%Rate

Funding earned: $22.8
Price spread: +0.169% → +0.062%: $10.73
Slippage, 4 orders: −$52.71
Fee OKX: 5 bp × 2 orders: −$10
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: −$36.18
Costs to cover: 0.697%
Break-even: 18.1 days

Slippage from OKX: live order book, 4 min ago; Phoenix: live order book, 15 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 OKX live order book, 4 min ago	1.79 bp	17.3 bp −$17	95.1 bp −$951	doesn't fit	doesn't fit
Sell Phoenix live order book, 15 min ago	2.94 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
RISEx VVV/USDC	−0.0329%	1h	30.696	−0.072%	$382K	$647K	5x	as long as short
Coinbase International VVV-PERP-INTX	−0.0040%	1h	30.630	−0.287%	$142K	$1.2M	25x	as long as short
gTrade (Gains Network) VVV/USD	L +0.0004% / S −0.0002%	1h	30.699	−0.063%	$22K	—	150x	as long as short
Injective VVV/USDC PERP	+0.0033%	1h	32.820	+6.843%	$2K	$1K	5.5x	as long as short
Deribit VVV_USDC-PERPETUAL	+0.0043%	1h	30.712	−0.019%	$85K	$22K	10x	as long as short
BloFin VVV-USDT	+0.0065%	4h	30.736	+0.059%	$1.3M	$1.5M	25x	as long as short
01 Exchange VVVUSD	+0.0080%	1h	30.712	−0.020%	$11K	$3K	3x	as long as short
Polymarket Perps VVV-USD	+0.0081%	1h	30.695	−0.075%	$118K	$1.4M	3x	as long as short
Lighter VVV	+0.0096%	1h	30.709	−0.030%	$2.0M	$4.6M	5x	as long as short
Lighter RH VVV	+0.0096%	1h	30.717	−0.003%	$447K	$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	30.708	−0.033%	$3K	$73	5x	as long as short
Nado VVV-PERP	+0.0100%	1h	30.721	+0.011%	$134K	$870K	3x	as long as short
Hyperliquid VVV	+0.0100%	1h	30.720	+0.007%	$69.2M	$47.9M	3x	as long as short
Aster VVVUSDT	+0.0100%	4h	30.741	+0.074%	$244K	$1.0M	10x	as long as short
Pacifica VVV	+0.0100%	1h	30.729	+0.037%	$181K	$130K	10x	as long as short
Binance VVVUSDT	+0.0100%	4h	30.727	+0.029%	$33.1M	$121.2M	25x	as long as short
Bybit VVVUSDT	+0.0100%	4h	30.709	−0.029%	$38.0M	$41.7M	20x	as long as short
OKX VVV-USDT-SWAPlong	+0.0100%	4h	30.718	long leg	$4.8M	$30.5M	20x
Gate VVV_USDT	+0.0100%	4h	30.706	−0.039%	$10.7M	$5.6M	25x	as long as short
MEXC VVV_USDT	+0.0100%	4h	30.727	+0.029%	$6.4M	$5.7M	50x	as long as short
KuCoin VVVUSDTM	+0.0100%	4h	30.716	−0.007%	$1.9M	$2.7M	20x	as long as short
Bitget VVVUSDT	+0.0100%	4h	30.699	−0.062%	$5.7M	$7.1M	20x	as long as short
BingX VVV-USDT	+0.0100%	4h	30.720	+0.007%	—	$4.9M	—	as long as short
Variational Omni VVV	+0.0100%	4h	30.708	−0.033%	$1.9M	$350K	—	as long as short
Derive VVV-PERP	+0.0100%	1h	30.698	−0.065%	$3K	$3K	5x	as long as short
Phemex VVVUSDT	+0.0100%	4h	30.720	+0.007%	$2.0M	$2.1M	50x	as long as short
Extended VVV-USD	+0.0104%	1h	30.712	−0.018%	$294K	$2.2M	5x	as long as short
Aevo VVV-PERP	+0.0104%	1h	30.719	+0.002%	$6K	—	3x	as long as short
edgeX VVVUSDC	+0.0109%	4h	30.717	−0.003%	$76K	$334K	10x	as long as short
Kalshi KXVVVPERP	+0.0199%	8h	30.727	+0.029%	$94K	$5.4M	1.7x	as long as short
Phoenix VVVshort	+0.0209%	1h	30.770	+0.169%	$32K	$243K	5x
Backpack VVV_USDC_PERP	+0.0385%	1h	30.747	+0.093%	$115K	$238K	5x	as long as short
GMX VVV/USD [ETH-USDC]	L +0.0428% / S −0.0176%	1h	30.695	−0.075%	$536K	—	100x	as long as short