Funding arb · Price arb /

VVV

all VVV markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0067%/8h= −7.3% APRpaid last 24h +0.049%

Price spread now: Injective against Phemex+1.069%7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Phemex Short on Injective

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

The price spread pays, funding is against you. Injective is 1.069% dearer against Phemex than usual: you sell high and buy low (spread +1.069% now, against zero (this spread has no 7-day history yet)): +$107 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 53 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex VVVUSDT	32.473	0.0100	pay 0.0050% / 4h	1h 58m	$2.1M	$2.0M	50x
Short	Injective VVV/USDC PERP	32.820	0.0033	get 0.0004% / 1h	58m 58s	$2K	$1K	5.5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective 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 InjectivebpOrdersPrice spread, now +1.069%Rate

Funding earned: −$14
Price spread: +1.069% → 0.000%: $106.86
Slippage, 4 orders: no order book: not counted
Fee Phemex: 6 bp × 2 orders: −$12
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: $80.84
Costs to cover: 0.120%
Break-even: from the start

Slippage unknown: Phemex: live order book, 4 min ago; Injective: no order-book sample. Net counts fees only.

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	0.46 bp	61.4 bp −$61	doesn't fit	doesn't fit	doesn't fit
Sell Injective no order-book sample	—	—	—	—	—

Injective: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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
Deribit VVV_USDC-PERPETUAL	−0.0429%	1h	32.524	+0.156%	$92K	$23K	10x	as long as short
Kalshi KXVVVPERP	0.0000%	8h	32.561	+0.271%	$107K	$6.8M	1.7x	as long as short
gTrade (Gains Network) VVV/USD	L +0.0004% / S −0.0004%	1h	32.511	+0.116%	$19K	—	150x	as long as short
Injective VVV/USDC PERPshort	+0.0033%	1h	32.820	+1.069%	$2K	$1K	5.5x
BloFin VVV-USDT	+0.0042%	4h	32.512	+0.120%	$1.4M	$1.8M	25x	as long as short
Phoenix VVV	+0.0077%	1h	32.498	+0.077%	$57K	$291K	5x	as long as short
Lighter VVV	+0.0096%	1h	32.508	+0.106%	$2.2M	$5.4M	5x	as long as short
Lighter RH VVV	+0.0096%	1h	32.489	+0.049%	$485K	$1.6M	5x	as long as short
Nado VVV-PERP	+0.0100%	1h	32.491	+0.057%	$150K	$781K	3x	as long as short
Aster VVVUSDT	+0.0100%	4h	32.514	+0.126%	$276K	$1.8M	10x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica VVV	+0.0100%	1h	32.473	+0.001%	$193K	$176K	10x	as long as short
Binance VVVUSDT	+0.0100%	4h	32.515	+0.128%	$34.3M	$155.7M	25x	as long as short
Bybit VVVUSDT	+0.0100%	4h	32.493	+0.063%	$40.0M	$52.3M	20x	as long as short
OKX VVV-USDT-SWAP	+0.0100%	4h	32.515	+0.129%	$4.8M	$42.8M	20x	as long as short
Gate VVV_USDT	+0.0100%	4h	32.494	+0.065%	$11.0M	$7.6M	25x	as long as short
MEXC VVV_USDT	+0.0100%	4h	32.496	+0.071%	$17.6M	$7.0M	50x	as long as short
KuCoin VVVUSDTM	+0.0100%	4h	32.501	+0.086%	$2.0M	$2.8M	20x	as long as short
Bitget VVVUSDT	+0.0100%	4h	32.506	+0.102%	$5.9M	$8.8M	20x	as long as short
BingX VVV-USDT	+0.0100%	4h	32.483	+0.031%	—	$5.4M	—	as long as short
Variational Omni VVV	+0.0100%	4h	32.611	+0.425%	$2.1M	$180K	—	as long as short
Polymarket Perps VVV-USD	+0.0100%	1h	32.464	−0.028%	$152K	$1.2M	3x	as long as short
Derive VVV-PERP	+0.0100%	1h	32.487	+0.043%	$1K	$1K	5x	as long as short
Phemex VVVUSDTlong	+0.0100%	4h	32.473	long leg	$2.1M	$2.0M	50x
Paradex VVV-USD-PERP	+0.0100%	8h	32.466	−0.021%	$3K	$106	5x	as long as short
Extended VVV-USD	+0.0104%	1h	32.516	+0.133%	$321K	$1.6M	5x	as long as short
Aevo VVV-PERP	+0.0104%	1h	32.510	+0.112%	$7K	$13K	3x	as long as short
edgeX VVVUSDC	+0.0117%	4h	32.615	+0.437%	$81K	$332K	10x	as long as short
Coinbase International VVV-PERP-INTX	+0.0144%	1h	32.490	+0.052%	$200K	$1.1M	25x	as long as short
Backpack VVV_USDC_PERP	+0.0172%	1h	32.530	+0.176%	$125K	$377K	5x	as long as short
RISEx VVV/USDC	+0.0175%	1h	32.468	−0.015%	$403K	$582K	5x	as long as short
GMX VVV/USD [ETH-USDC]	L +0.0191% / S +0.0097%	1h	32.493	+0.063%	$566K	—	100x	as long as short
01 Exchange VVVUSD	+0.0728%	1h	32.513	+0.123%	$12K	$3K	3x	as long as short
Hyperliquid VVV	+0.0970%	1h	32.568	+0.291%	$75.4M	$55.2M	3x	as long as short