Funding arb · Price arb /

VVV

all VVV markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0157%/8h= −17.2% APRpaid last 24h −0.036%

Price spread now: Gate against Phoenix+0.048%7-day average −0.113% · you sell dearer than you buy

Net, funding: paid 7d − costs−$133as in the Funding arb table

Net, price: spread back to 7d avg − costs−$73as in the Price arb table

costs, in and out, $10k−$890.891% of the position

Long on Phoenix Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−0.438%−$44 on $10k

Price spread, last 4 days (all we have)−0.784%−$78 · spread now +0.048%, 7d avg −0.113%

Together, before fees−1.221%−$122 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Gate is 0.161% dearer against Phoenix than usual: you sell high and buy low (spread +0.048% now, against its 7-day average of −0.113%): +$16 on $10k if it goes back. Holding the pair costs −$5 a day in funding at the current rate, which eats that in about 3.4 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phoenix VVV	31.443	0.0229	pay 0.0029% / 1h	51m 33s	$33K	$201K	5x
Short	Gate VVV_USDT	31.458	0.0072	get 0.0036% / 4h	3h 51m	$11.8M	$4.7M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now +0.048%Rate

Funding earned: −$32.95
Price spread: +0.048% → −0.113%: $16.08
Slippage, 4 orders: −$67.13
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$106
Costs to cover: 0.891%
Break-even: never at this rate

Slippage from Phoenix: live order book, 43 min ago; Gate: live order book, 2 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, 43 min ago	2.84 bp	19.7 bp −$20	65.0 bp −$650	doesn't fit	doesn't fit
Sell Gate live order book, 2 min ago	5.72 bp	22.0 bp −$22	118.7 bp −$1,187	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	−0.0349%	1h	31.470	+0.086%	$385K	$666K	5x	as long as short
Kalshi KXVVVPERP	0.0000%	8h	31.486	+0.137%	$95K	$5.2M	1.7x	as long as short
Deribit VVV_USDC-PERPETUAL	0.0000%	1h	31.455	+0.038%	$88K	$22K	10x	as long as short
Coinbase International VVV-PERP-INTX	0.0000%	1h	31.404	−0.124%	$187K	$1.3M	25x	as long as short
gTrade (Gains Network) VVV/USD	L +0.0004% / S −0.0004%	1h	31.474	+0.098%	$19K	—	150x	as long as short
Injective VVV/USDC PERP	+0.0033%	1h	32.820	+4.379%	$2K	$1K	5.5x	as long as short
BloFin VVV-USDT	+0.0056%	4h	31.498	+0.175%	$1.3M	$1.4M	25x	as long as short
Gate VVV_USDTshort	+0.0072%	4h	31.458	+0.048%	$11.8M	$4.7M	25x
Lighter VVV	+0.0096%	1h	31.483	+0.126%	$1.9M	$4.1M	5x	as long as short
Lighter RH VVV	+0.0096%	1h	31.492	+0.156%	$464K	$1.5M	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	31.470	+0.086%	$3K	$73	5x	as long as short
Nado VVV-PERP	+0.0100%	1h	31.514	+0.227%	$163K	$951K	3x	as long as short
Hyperliquid VVV	+0.0100%	1h	31.521	+0.247%	$70.3M	$43.3M	3x	as long as short
Aster VVVUSDT	+0.0100%	4h	31.520	+0.244%	$249K	$499K	10x	as long as short
Pacifica VVV	+0.0100%	1h	31.495	+0.166%	$185K	$121K	10x	as long as short
Binance VVVUSDT	+0.0100%	4h	31.518	+0.237%	$33.6M	$109.4M	25x	as long as short
Bybit VVVUSDT	+0.0100%	4h	31.487	+0.141%	$38.4M	$39.2M	20x	as long as short
OKX VVV-USDT-SWAP	+0.0100%	4h	31.510	+0.213%	$4.8M	$26.9M	20x	as long as short
MEXC VVV_USDT	+0.0100%	4h	31.523	+0.254%	$6.9M	$4.9M	50x	as long as short
KuCoin VVVUSDTM	+0.0100%	4h	31.489	+0.146%	$1.7M	$2.7M	20x	as long as short
Bitget VVVUSDT	+0.0100%	4h	31.475	+0.102%	$5.7M	$6.4M	20x	as long as short
BingX VVV-USDT	+0.0100%	4h	31.491	+0.153%	—	$4.6M	—	as long as short
Variational Omni VVV	+0.0100%	4h	31.341	−0.325%	$2.0M	$357K	—	as long as short
Polymarket Perps VVV-USD	+0.0100%	1h	31.487	+0.140%	$130K	$1.3M	3x	as long as short
Derive VVV-PERP	+0.0100%	1h	31.493	+0.158%	$3K	$3K	5x	as long as short
Phemex VVVUSDT	+0.0100%	4h	31.467	+0.076%	$2.0M	$2.1M	50x	as long as short
edgeX VVVUSDC	+0.0103%	4h	31.497	+0.171%	$78K	$330K	10x	as long as short
Extended VVV-USD	+0.0104%	1h	31.498	+0.173%	$293K	$1.9M	5x	as long as short
Aevo VVV-PERP	+0.0104%	1h	31.458	+0.048%	$6K	—	3x	as long as short
Phoenix VVVlong	+0.0229%	1h	31.443	long leg	$33K	$201K	5x
01 Exchange VVVUSD	+0.0400%	1h	31.532	+0.283%	$11K	$2K	3x	as long as short
GMX VVV/USD [ETH-USDC]	L +0.0442% / S −0.0216%	1h	31.442	−0.004%	$506K	—	100x	as long as short
Backpack VVV_USDC_PERP	+0.0836%	1h	31.484	+0.130%	$160K	$266K	5x	as long as short