Funding arb · Price arb /

VVV

all VVV markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0207%/8h= −22.7% APRpaid last 24h −0.035%

Price spread now: KuCoin against Phoenix−0.133%7-day average −0.072% · you buy dearer than you sell

Net, funding: paid 7d − costs−$147as in the Funding arb table

Net, price: spread back to 7d avg − costs−$120as in the Price arb table

costs, in and out, $10k−$1141.138% of the position

Long on Phoenix Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.335%−$34 on $10k

Price spread, last 4 days (all we have)+0.075%+$7 · spread now −0.133%, 7d avg −0.072%

Together, before fees−0.261%−$26 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$6 a day on $10k at the current rate, and KuCoin is 0.061% cheaper against Phoenix than usual: you would sell low and buy high (−$6 if the spread goes back to its 7-day average of −0.072%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phoenix VVV	31.625	0.0307	pay 0.0038% / 1h	19m 18s	$33K	$232K	5x
Short	KuCoin VVVUSDTM	31.583	0.0100	get 0.0050% / 4h	1h 19m	$1.7M	$2.8M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now −0.133%Rate

Funding earned: −$43.53
Price spread: −0.133% → −0.072%: −$6.08
Slippage, 4 orders: −$94.85
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$163.45
Costs to cover: 1.138%
Break-even: never at this rate

Slippage from Phoenix: live order book, 21 min ago; KuCoin: live order book, 8 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, 21 min ago	2.86 bp	19.8 bp −$20	65.2 bp −$652	doesn't fit	doesn't fit
Sell KuCoin live order book, 8 min ago	10.15 bp	36.1 bp −$36	210.3 bp −$2,103	doesn't fit	doesn't fit

VVV on 32 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
Coinbase International VVV-PERP-INTX	−0.0088%	1h	31.621	−0.014%	$187K	$1.3M	25x	as long as short
RISEx VVV/USDC	−0.0085%	1h	31.563	−0.197%	$387K	$644K	5x	as long as short
01 Exchange VVVUSD	0.0000%	1h	31.576	−0.155%	$11K	$2K	3x	as long as short
Kalshi KXVVVPERP	0.0000%	8h	31.611	−0.044%	$92K	$5.5M	1.7x	as long as short
Deribit VVV_USDC-PERPETUAL	0.0000%	1h	31.576	−0.156%	$88K	$22K	10x	as long as short
gTrade (Gains Network) VVV/USD	L +0.0004% / S −0.0003%	1h	31.609	−0.051%	$23K	—	150x	as long as short
Injective VVV/USDC PERP	+0.0033%	1h	32.820	+3.779%	$2K	$1K	5.5x	as long as short
Lighter VVV	+0.0096%	1h	31.568	−0.180%	$2.0M	$4.5M	5x	as long as short
Lighter RH VVV	+0.0096%	1h	31.572	−0.168%	$464K	$1.6M	5x	as long as short
Paradex VVV-USD-PERP	+0.0100%	8h	31.584	−0.130%	$3K	$73	5x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado VVV-PERP	+0.0100%	1h	31.587	−0.120%	$134K	$916K	3x	as long as short
Hyperliquid VVV	+0.0100%	1h	31.627	+0.006%	$71.1M	$46.8M	3x	as long as short
Aster VVVUSDT	+0.0100%	4h	31.604	−0.068%	$251K	$952K	10x	as long as short
Pacifica VVV	+0.0100%	1h	31.600	−0.079%	$186K	$126K	10x	as long as short
Binance VVVUSDT	+0.0100%	4h	31.590	−0.112%	$34.0M	$119.2M	25x	as long as short
Bybit VVVUSDT	+0.0100%	4h	31.569	−0.177%	$38.7M	$41.1M	20x	as long as short
OKX VVV-USDT-SWAP	+0.0100%	4h	31.582	−0.136%	$4.9M	$30.4M	20x	as long as short
Gate VVV_USDT	+0.0100%	4h	31.564	−0.193%	$11.4M	$5.5M	25x	as long as short
MEXC VVV_USDT	+0.0100%	4h	31.596	−0.092%	$6.8M	$5.7M	50x	as long as short
KuCoin VVVUSDTMshort	+0.0100%	4h	31.583	−0.133%	$1.7M	$2.8M	20x
Bitget VVVUSDT	+0.0100%	4h	31.575	−0.158%	$5.8M	$7.0M	20x	as long as short
BingX VVV-USDT	+0.0100%	4h	31.594	−0.098%	—	$4.8M	—	as long as short
Variational Omni VVV	+0.0100%	4h	31.567	−0.182%	$2.0M	$353K	—	as long as short
Polymarket Perps VVV-USD	+0.0100%	1h	31.583	−0.133%	$122K	$1.4M	3x	as long as short
Phemex VVVUSDT	+0.0100%	4h	31.592	−0.104%	$2.0M	$2.1M	50x	as long as short
Extended VVV-USD	+0.0104%	1h	31.584	−0.131%	$303K	$1.1M	5x	as long as short
Aevo VVV-PERP	+0.0104%	1h	31.593	−0.100%	$6K	—	3x	as long as short
BloFin VVV-USDT	+0.0105%	4h	31.618	−0.022%	$1.4M	$1.5M	25x	as long as short
edgeX VVVUSDC	+0.0109%	4h	31.545	−0.253%	$78K	$331K	10x	as long as short
Phoenix VVVlong	+0.0307%	1h	31.625	long leg	$33K	$232K	5x
GMX VVV/USD [ETH-USDC]	L +0.0431% / S −0.0203%	1h	31.581	−0.140%	$505K	—	100x	as long as short
Backpack VVV_USDC_PERP	+0.0442%	1h	31.608	−0.052%	$152K	$267K	5x	as long as short