Funding arb · Price arb /

VVV

all VVV markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 21:00 UTC+0.0023%/8h= +2.5% APRpaid last 24h −0.026%

Price spread now: Binance against Phoenix+0.211%95s7-day average +0.005% · you sell dearer than you buy

Net, funding: paid 7d − costs−$87as 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−$560.556% of the position

Long on Phoenix Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days−0.314%−$31 on $10k

Price spread, last 3 days (all we have)−0.181%−$18 · spread now +0.211%, 7d avg +0.005%

Together, before fees−0.496%−$50 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and Binance is 0.205% dearer against Phoenix than usual: you sell high and buy low: +$21 more if the spread goes back to its 7-day average of +0.005%. Mind the row above: over the last 7 days funding on this pair cost −0.314%, so the current rate has only just turned in your favour. The two prices were read 95 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	Phoenix VVV	32.267	0.0077	pay 0.0010% / 1h	11m 50s	$56K	$292K	5x
Short	Binance VVVUSDT	32.335	0.0100	get 0.0050% / 4h	2h 11m	$34.1M	$155.2M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Phoenix. 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 PhoenixbpFee BinancebpOrdersPrice spread, now +0.211%Rate

Funding earned: $4.82
Price spread: +0.211% → +0.005%: $20.52
Slippage, 4 orders: −$38.63
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee Binance: 5 bp × 2 orders: −$10
Net: −$30.28
Costs to cover: 0.556%
Break-even: 50.9 days

Slippage from Phoenix: live order book, 9 min ago; Binance: live order book, 1 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 Phoenix live order book, 9 min ago	3.12 bp	19.7 bp −$20	65.2 bp −$652	doesn't fit	doesn't fit
Sell Binance live order book, 1 min ago	0.47 bp	8.4 bp −$8	38.3 bp −$383	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	32.256	−0.034%	$114K	$6.8M	1.7x	as long as short
Deribit VVV_USDC-PERPETUAL	0.0000%	1h	32.314	+0.147%	$93K	$22K	10x	as long as short
gTrade (Gains Network) VVV/USD	L +0.0004% / S −0.0004%	1h	32.280	+0.041%	$19K	—	150x	as long as short
Injective VVV/USDC PERP	+0.0033%	1h	32.820	+1.714%	$2K	$1K	5.5x	as long as short
BloFin VVV-USDT	+0.0072%	4h	32.272	+0.015%	$1.3M	$1.7M	25x	as long as short
Phoenix VVVlong	+0.0077%	1h	32.267	long leg	$56K	$292K	5x
RISEx VVV/USDC	+0.0078%	1h	32.262	−0.017%	$410K	$580K	5x	as long as short
Lighter VVV	+0.0096%	1h	32.317	+0.155%	$2.2M	$5.4M	5x	as long as short
Lighter RH VVV	+0.0096%	1h	32.301	+0.105%	$482K	$1.6M	5x	as long as short
Nado VVV-PERP	+0.0100%	1h	32.264	−0.008%	$149K	$781K	3x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster VVVUSDT	+0.0100%	4h	32.329	+0.192%	$279K	$1.8M	10x	as long as short
Pacifica VVV	+0.0100%	1h	32.251	−0.050%	$192K	$176K	10x	as long as short
Binance VVVUSDTshort	+0.0100%	4h	32.335	+0.211%	$34.1M	$155.2M	25x
Bybit VVVUSDT	+0.0100%	4h	32.337	+0.216%	$39.9M	$52.1M	20x	as long as short
OKX VVV-USDT-SWAP	+0.0100%	4h	32.389	+0.378%	$4.8M	$42.5M	20x	as long as short
Gate VVV_USDT	+0.0100%	4h	32.315	+0.149%	$10.9M	$7.8M	25x	as long as short
MEXC VVV_USDT	+0.0100%	4h	32.341	+0.229%	$17.4M	$7.0M	50x	as long as short
KuCoin VVVUSDTM	+0.0100%	4h	32.300	+0.102%	$2.1M	$2.8M	20x	as long as short
Bitget VVVUSDT	+0.0100%	4h	32.322	+0.170%	$5.9M	$8.8M	20x	as long as short
BingX VVV-USDT	+0.0100%	4h	32.339	+0.223%	—	$5.4M	—	as long as short
Variational Omni VVV	+0.0100%	4h	32.022	−0.761%	$2.1M	$180K	—	as long as short
Polymarket Perps VVV-USD	+0.0100%	1h	32.269	+0.006%	$157K	$1.2M	3x	as long as short
Derive VVV-PERP	+0.0100%	1h	32.296	+0.090%	$1K	$1K	5x	as long as short
Phemex VVVUSDT	+0.0100%	4h	32.257	−0.031%	$2.1M	$2.0M	50x	as long as short
Paradex VVV-USD-PERP	+0.0100%	8h	32.262	−0.017%	$3K	$106	5x	as long as short
Extended VVV-USD	+0.0104%	1h	32.337	+0.217%	$319K	$1.6M	5x	as long as short
Aevo VVV-PERP	+0.0104%	1h	32.315	+0.150%	$7K	$13K	3x	as long as short
edgeX VVVUSDC	+0.0115%	4h	32.149	−0.367%	$80K	$332K	10x	as long as short
01 Exchange VVVUSD	+0.0120%	1h	32.287	+0.062%	$12K	$3K	3x	as long as short
Hyperliquid VVV	+0.0152%	1h	32.412	+0.449%	$75.1M	$55.1M	3x	as long as short
GMX VVV/USD [ETH-USDC]	L +0.0191% / S +0.0094%	1h	32.281	+0.042%	$564K	—	100x	as long as short
Coinbase International VVV-PERP-INTX	+0.0232%	1h	32.332	+0.202%	$215K	$1.3M	25x	as long as short
Backpack VVV_USDC_PERP	+0.0311%	1h	32.346	+0.244%	$123K	$380K	5x	as long as short