VVV

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0133%/8h= −14.6% APRnext payment −$0.17 per $10,000 · paid last 24h −0.025%

Price spread now: Lighter RH against Phoenix−0.344%75s7-day average +0.029% · you buy dearer than you sell

Net, funding: paid 7d − costs−$34as 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−$530.530% of the position

Long on Phoenix Short on Lighter RH

What this pair did over the last

the charts below follow

Funding, last 7 days+0.195%+$20 on $10k

Price spread, last 4 days (all we have)+0.447%+$45 · spread now −0.344%, 7d avg +0.029%

Together, before fees+0.642%+ Points / potential airdropLighter RH: Points live · farm board+$64 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$4 a day on $10k at the current rate, and Lighter RH is 0.373% cheaper against Phoenix than usual: you would sell low and buy high (−$37 if the spread goes back to its 7-day average of +0.029%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.195%, so the current rate has only just turned against you. The two prices were read 75 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	31.673	0.0229	pay 0.0029% / 1h	42m 13s	$33K	$201K	5x
Short	Lighter RH VVV	31.564	0.0096	get 0.0012% / 1h	42m 13s	$465K	$1.5M	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter RH 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 Lighter RHbpOrdersPrice spread, now −0.344%Rate

Funding earned: −$27.91
Price spread: −0.344% → +0.029%: −$37.28
Slippage, 4 orders: −$46.01
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee Lighter RH: 0 bp × 2 orders: $0
Net: −$118.19
Costs to cover: 0.530%
Break-even: never at this rate

Slippage from Phoenix: live order book, 52 min ago; Lighter RH: live order book, just now.

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, 52 min ago	2.84 bp	19.7 bp −$20	65.0 bp −$650	doesn't fit	doesn't fit
Sell Lighter RH live order book, just now	4.75 bp	7.9 bp −$8	26.9 bp −$269	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	31.563	−0.348%	$391K	$680K	5x	as long as short
Kalshi KXVVVPERP	0.0000%	8h	31.646	−0.085%	$98K	$5.2M	1.7x	as long as short
Deribit VVV_USDC-PERPETUAL	0.0000%	1h	31.594	−0.250%	$88K	$20K	10x	as long as short
Coinbase International VVV-PERP-INTX	0.0000%	1h	31.791	+0.374%	$192K	$1.3M	25x	as long as short
gTrade (Gains Network) VVV/USD	L +0.0004% / S −0.0004%	1h	31.583	−0.285%	$19K	—	150x	as long as short
Injective VVV/USDC PERP	+0.0033%	1h	32.820	+3.621%	$2K	$1K	5.5x	as long as short
Lighter VVV	+0.0096%	1h	31.577	−0.304%	$1.9M	$4.1M	5x	as long as short
Lighter RH VVVshort	+0.0096%	1h	31.564	−0.344%	$465K	$1.5M	5x
Paradex VVV-USD-PERP	+0.0100%	8h	31.547	−0.398%	$3K	$51	5x	as long as short
Nado VVV-PERP	+0.0100%	1h	31.599	−0.235%	$190K	$975K	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	31.584	−0.281%	$249K	$498K	10x	as long as short
Pacifica VVV	+0.0100%	1h	31.553	−0.379%	$186K	$119K	10x	as long as short
Binance VVVUSDT	+0.0100%	4h	31.578	−0.300%	$33.7M	$107.9M	25x	as long as short
Bybit VVVUSDT	+0.0100%	4h	31.535	−0.435%	$38.5M	$38.9M	20x	as long as short
OKX VVV-USDT-SWAP	+0.0100%	4h	31.548	−0.395%	$4.8M	$26.4M	20x	as long as short
Gate VVV_USDT	+0.0100%	4h	31.562	−0.350%	$11.9M	$4.8M	25x	as long as short
MEXC VVV_USDT	+0.0100%	4h	31.593	−0.253%	$7.0M	$4.9M	50x	as long as short
KuCoin VVVUSDTM	+0.0100%	4h	31.567	−0.335%	$1.7M	$2.7M	20x	as long as short
Bitget VVVUSDT	+0.0100%	4h	31.554	−0.376%	$5.7M	$6.3M	20x	as long as short
BingX VVV-USDT	+0.0100%	4h	31.555	−0.373%	—	$4.5M	—	as long as short
Variational Omni VVV	+0.0100%	4h	31.735	+0.197%	$2.0M	$371K	—	as long as short
edgeX VVVUSDC	+0.0100%	4h	31.663	−0.030%	$79K	$331K	10x	as long as short
Polymarket Perps VVV-USD	+0.0100%	1h	31.582	−0.287%	$130K	$1.3M	3x	as long as short
Derive VVV-PERP	+0.0100%	1h	31.653	−0.063%	$3K	$3K	5x	as long as short
Phemex VVVUSDT	+0.0100%	4h	31.597	−0.240%	$2.0M	$2.1M	50x	as long as short
Extended VVV-USD	+0.0104%	1h	31.600	−0.229%	$294K	$1.9M	5x	as long as short
Aevo VVV-PERP	+0.0104%	1h	31.568	−0.330%	$6K	—	3x	as long as short
Hyperliquid VVV	+0.0115%	1h	31.632	−0.129%	$70.5M	$43.6M	3x	as long as short
BloFin VVV-USDT	+0.0154%	4h	31.542	−0.414%	$1.3M	$1.4M	25x	as long as short
Phoenix VVVlong	+0.0229%	1h	31.673	long leg	$33K	$201K	5x
01 Exchange VVVUSD	+0.0440%	1h	31.597	−0.240%	$11K	$2K	3x	as long as short
GMX VVV/USD [ETH-USDC]	L +0.0444% / S −0.0217%	1h	31.581	−0.292%	$508K	—	100x	as long as short
Backpack VVV_USDC_PERP	+0.0860%	1h	31.606	−0.212%	$160K	$258K	5x	as long as short