Funding arb · Price arb /

VVV

all VVV markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.006%

Price spread now: Bybit against Phemex−0.153%7-day average −0.081% · 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−$136as in the Price arb table

costs, in and out, $10k−$1291.288% of the position

Long on Phemex Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.063%−$6 on $10k

Price spread, last 3 days (all we have)+0.034%+$3 · spread now −0.153%, 7d avg −0.081%

Together, before fees−0.029%−$3 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: Bybit is 0.072% cheaper against Phemex than usual: you would sell low and buy high, −$7 on $10k if it goes back to its 7-day average of −0.081%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex VVVUSDT	32.078	0.0100	pay 0.0050% / 4h	24m 04s	$2.1M	$2.1M	50x
Short	Bybit VVVUSDT	32.029	0.0100	get 0.0050% / 4h	24m 04s	$39.3M	$52.2M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Phemex. 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 PhemexbpFee BybitbpOrdersPrice spread, now −0.153%Rate

Funding earned: $0
Price spread: −0.153% → −0.081%: −$7.21
Slippage, 4 orders: −$105.8
Fee Phemex: 6 bp × 2 orders: −$12
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$136
Costs to cover: 1.288%
Break-even: never at this rate

Slippage from Phemex: live order book, 4 min ago; Bybit: 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 Phemex live order book, 4 min ago	1.87 bp	39.8 bp −$40	doesn't fit	doesn't fit	doesn't fit
Sell Bybit live order book, 5 min ago	0.94 bp	20.7 bp −$21	56.0 bp −$560	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	32.055	−0.072%	$108K	$6.8M	1.7x	as long as short
Deribit VVV_USDC-PERPETUAL	0.0000%	1h	32.034	−0.137%	$91K	$23K	10x	as long as short
gTrade (Gains Network) VVV/USD	L +0.0004% / S −0.0004%	1h	32.059	−0.059%	$19K	—	150x	as long as short
Polymarket Perps VVV-USD	+0.0026%	1h	32.019	−0.184%	$146K	$1.2M	3x	as long as short
Injective VVV/USDC PERP	+0.0033%	1h	32.820	+2.313%	$2K	$1K	5.5x	as long as short
RISEx VVV/USDC	+0.0040%	1h	32.021	−0.176%	$394K	$604K	5x	as long as short
01 Exchange VVVUSD	+0.0048%	1h	32.018	−0.187%	$11K	$3K	3x	as long as short
Lighter VVV	+0.0096%	1h	32.058	−0.063%	$2.3M	$5.5M	5x	as long as short
Lighter RH VVV	+0.0096%	1h	32.032	−0.143%	$477K	$1.6M	5x	as long as short
Nado VVV-PERP	+0.0100%	1h	32.033	−0.139%	$126K	$850K	3x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid VVV	+0.0100%	1h	32.075	−0.010%	$74.3M	$55.4M	3x	as long as short
Aster VVVUSDT	+0.0100%	4h	32.038	−0.126%	$263K	$1.9M	10x	as long as short
Pacifica VVV	+0.0100%	1h	32.051	−0.083%	$192K	$191K	10x	as long as short
Binance VVVUSDT	+0.0100%	4h	32.048	−0.094%	$33.5M	$156.5M	25x	as long as short
Bybit VVVUSDTshort	+0.0100%	4h	32.029	−0.153%	$39.3M	$52.2M	20x
OKX VVV-USDT-SWAP	+0.0100%	4h	32.031	−0.147%	$4.6M	$42.3M	20x	as long as short
Gate VVV_USDT	+0.0100%	4h	32.025	−0.165%	$10.8M	$7.5M	25x	as long as short
MEXC VVV_USDT	+0.0100%	4h	32.046	−0.100%	$6.4M	$7.1M	50x	as long as short
KuCoin VVVUSDTM	+0.0100%	4h	32.047	−0.097%	$2.0M	$2.8M	20x	as long as short
Bitget VVVUSDT	+0.0100%	4h	32.023	−0.171%	$5.8M	$8.9M	20x	as long as short
BingX VVV-USDT	+0.0100%	4h	32.052	−0.081%	—	$5.5M	—	as long as short
Variational Omni VVV	+0.0100%	4h	32.110	+0.099%	$2.1M	$183K	—	as long as short
Derive VVV-PERP	+0.0100%	1h	32.051	−0.083%	$1K	$1K	5x	as long as short
Phemex VVVUSDTlong	+0.0100%	4h	32.078	long leg	$2.1M	$2.1M	50x
Paradex VVV-USD-PERP	+0.0100%	8h	32.049	−0.091%	$3K	$106	5x	as long as short
Extended VVV-USD	+0.0104%	1h	32.035	−0.134%	$323K	$1.6M	5x	as long as short
Aevo VVV-PERP	+0.0104%	1h	32.031	−0.147%	$6K	$13K	3x	as long as short
edgeX VVVUSDC	+0.0106%	4h	32.120	+0.131%	$80K	$332K	10x	as long as short
Phoenix VVV	+0.0124%	1h	32.110	+0.100%	$56K	$299K	5x	as long as short
Backpack VVV_USDC_PERP	+0.0129%	1h	32.061	−0.053%	$124K	$360K	5x	as long as short
BloFin VVV-USDT	+0.0132%	4h	32.049	−0.090%	$1.3M	$1.8M	25x	as long as short
GMX VVV/USD [ETH-USDC]	L +0.0180% / S +0.0173%	1h	32.054	−0.073%	$616K	—	100x	as long as short
Coinbase International VVV-PERP-INTX	+0.0192%	1h	32.278	+0.623%	$242K	$1.3M	25x	as long as short