VVV

Alert: funding

Alert: spread

Funding you earn now, next payment 21:00 UTC+0.0019%/8h= +2.1% APRnext payment +$0.02 per $10,000 · paid last 24h +0.028%

Price spread now: Lighter against Phoenix+0.055%74s7-day average +0.046% · you sell dearer than you buy

Net, funding: paid 7d − costs−$63as 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−$640.643% of the position

Long on Phoenix Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.013%+$1 on $10k

Price spread, last 3 days (all we have)+0.075%+$7 · spread now +0.055%, 7d avg +0.046%

Together, before fees+0.088%+ Points / potential airdropLighter: Season 3 · farm board+$9 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.046%, so right now this pair is about funding alone: +$1 a day on $10k at the current rate. The two prices were read 74 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	32.454	0.0077	pay 0.0010% / 1h	0m 02s	$57K	$292K	5x
Short	Lighter VVV	32.472	0.0096	get 0.0012% / 1h	0m 02s	$2.2M	$5.4M	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter 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 LighterbpOrdersPrice spread, now +0.055%Rate

Funding earned: $3.98
Price spread: +0.055% → +0.046%: $0.82
Slippage, 4 orders: −$57.31
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee Lighter: 0 bp × 2 orders: $0
Net: −$59.51
Costs to cover: 0.643%
Break-even: 111.6 days

Slippage from Phoenix: live order book, 20 min ago; Lighter: live order book, 3 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, 20 min ago	3.12 bp	19.7 bp −$20	65.2 bp −$652	doesn't fit	doesn't fit
Sell Lighter live order book, 3 min ago	3.57 bp	13.4 bp −$13	51.1 bp −$511	325.9 bp −$32.6K	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
Deribit VVV_USDC-PERPETUAL	−0.0043%	1h	32.458	+0.011%	$92K	$23K	10x	as long as short
Kalshi KXVVVPERP	0.0000%	8h	32.654	+0.616%	$107K	$6.9M	1.7x	as long as short
gTrade (Gains Network) VVV/USD	L +0.0004% / S −0.0004%	1h	32.470	+0.049%	$19K	—	150x	as long as short
Injective VVV/USDC PERP	+0.0033%	1h	32.820	+1.128%	$2K	$1K	5.5x	as long as short
BloFin VVV-USDT	+0.0050%	4h	32.614	+0.493%	$1.4M	$1.8M	25x	as long as short
Phoenix VVVlong	+0.0077%	1h	32.454	long leg	$57K	$292K	5x
RISEx VVV/USDC	+0.0078%	1h	32.457	+0.008%	$403K	$582K	5x	as long as short
Lighter VVVshort	+0.0096%	1h	32.472	+0.055%	$2.2M	$5.4M	5x
Lighter RH VVV	+0.0096%	1h	32.455	+0.003%	$485K	$1.6M	5x	as long as short
Nado VVV-PERP	+0.0100%	1h	32.470	+0.049%	$150K	$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	32.498	+0.134%	$276K	$1.8M	10x	as long as short
Pacifica VVV	+0.0100%	1h	32.603	+0.459%	$194K	$176K	10x	as long as short
Binance VVVUSDT	+0.0100%	4h	32.461	+0.022%	$34.3M	$155.6M	25x	as long as short
Bybit VVVUSDT	+0.0100%	4h	32.447	−0.022%	$40.0M	$52.3M	20x	as long as short
OKX VVV-USDT-SWAP	+0.0100%	4h	32.487	+0.102%	$4.8M	$42.7M	20x	as long as short
Gate VVV_USDT	+0.0100%	4h	32.454	0.000%	$11.0M	$7.8M	25x	as long as short
MEXC VVV_USDT	+0.0100%	4h	32.465	+0.034%	$17.6M	$7.1M	50x	as long as short
KuCoin VVVUSDTM	+0.0100%	4h	32.486	+0.099%	$2.0M	$2.8M	20x	as long as short
Bitget VVVUSDT	+0.0100%	4h	32.465	+0.034%	$5.9M	$8.8M	20x	as long as short
BingX VVV-USDT	+0.0100%	4h	32.466	+0.037%	—	$5.4M	—	as long as short
Variational Omni VVV	+0.0100%	4h	32.611	+0.484%	$2.1M	$180K	—	as long as short
Polymarket Perps VVV-USD	+0.0100%	1h	32.470	+0.049%	$152K	$1.2M	3x	as long as short
Derive VVV-PERP	+0.0100%	1h	32.448	−0.019%	$1K	$1K	5x	as long as short
Phemex VVVUSDT	+0.0100%	4h	32.450	−0.012%	$2.1M	$2.0M	50x	as long as short
Paradex VVV-USD-PERP	+0.0100%	8h	32.589	+0.417%	$3K	$106	5x	as long as short
Extended VVV-USD	+0.0104%	1h	32.455	+0.002%	$321K	$1.6M	5x	as long as short
Aevo VVV-PERP	+0.0104%	1h	32.494	+0.122%	$7K	$13K	3x	as long as short
edgeX VVVUSDC	+0.0107%	4h	32.571	+0.362%	$81K	$332K	10x	as long as short
GMX VVV/USD [ETH-USDC]	L +0.0191% / S +0.0095%	1h	32.458	+0.012%	$567K	—	100x	as long as short
01 Exchange VVVUSD	+0.0224%	1h	32.479	+0.077%	$12K	$3K	3x	as long as short
Coinbase International VVV-PERP-INTX	+0.0232%	1h	32.490	+0.111%	$200K	$1.1M	25x	as long as short
Hyperliquid VVV	+0.0327%	1h	32.516	+0.190%	$75.3M	$55.2M	3x	as long as short
Backpack VVV_USDC_PERP	+0.0386%	1h	32.487	+0.103%	$125K	$377K	5x	as long as short