Funding arb · Price arb /

VVV

all VVV markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0053%/8h= +5.8% APRpaid last 24h +0.049%

Price spread now: Phoenix against Variational Omni−0.033%7-day average +0.070% · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Variational Omni Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.211%+$21 on $10k

Price spread, last 4 days (all we have)+0.143%+$14 · spread now −0.033%, 7d avg +0.070%

Together, before fees+0.354%+ Points / potential airdropVariational Omni: Active · farm board+$35 on $10k · with fees, hour by hour

Funding pays, the price is against you. Phoenix is 0.104% cheaper against Variational Omni than usual: you would sell low and buy high (spread −0.033% now, against its 7-day average of +0.070%). If the spread goes back, that is −$10 on $10k: about 6.5 days of funding at the current rate (+$2 a day). At the pace of the last 3 days (+0.211% in total) that is about 41 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni VVV	31.176	0.0100	pay 0.0050% / 4h	1h 32m	$2.0M	$245K	—
Short	Phoenix VVV	31.166	0.0153	get 0.0019% / 1h	32m 42s	$38K	$264K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix against Variational Omni. 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 Variational OmnibpFee PhoenixbpOrdersPrice spread, now −0.033%Rate

Funding earned: $11.18
Price spread: −0.033% → +0.070%: −$10.39
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: −$6.21
Costs to cover: 0.070%
Break-even: 10.9 days

Slippage unknown: Variational Omni: RFQ quote, 1 min ago; Phoenix: live order book, 28 min ago. Net counts fees only.

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 Variational Omni RFQ quote, 1 min ago	2.88 bp	doesn't fit	40.7 bp −$407	doesn't fit	doesn't fit
Sell Phoenix live order book, 28 min ago	2.87 bp	19.9 bp −$20	57.5 bp −$575	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	−0.0152%	1h	31.002	−0.561%	$381K	$640K	5x	as long as short
Gate VVV_USDT	−0.0100%	4h	31.016	−0.515%	$10.4M	$6.2M	25x	as long as short
Deribit VVV_USDC-PERPETUAL	0.0000%	1h	31.046	−0.419%	$86K	$24K	10x	as long as short
gTrade (Gains Network) VVV/USD	L +0.0004% / S −0.0002%	1h	31.050	−0.406%	$23K	—	150x	as long as short
Polymarket Perps VVV-USD	+0.0024%	1h	31.048	−0.412%	$134K	$1.2M	3x	as long as short
01 Exchange VVVUSD	+0.0032%	1h	31.018	−0.508%	$11K	$3K	3x	as long as short
Injective VVV/USDC PERP	+0.0033%	1h	32.820	+5.272%	$2K	$1K	5.5x	as long as short
Lighter VVV	+0.0096%	1h	31.023	−0.492%	$2.1M	$5.4M	5x	as long as short
Lighter RH VVV	+0.0096%	1h	31.015	−0.518%	$458K	$1.5M	5x	as long as short
Paradex VVV-USD-PERP	+0.0100%	8h	31.026	−0.483%	$3K	$73	5x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado VVV-PERP	+0.0100%	1h	31.072	−0.337%	$132K	$846K	3x	as long as short
Hyperliquid VVV	+0.0100%	1h	31.037	−0.447%	$71.1M	$51.1M	3x	as long as short
Aster VVVUSDT	+0.0100%	4h	31.039	−0.441%	$250K	$1.7M	10x	as long as short
Pacifica VVV	+0.0100%	1h	31.054	−0.394%	$186K	$161K	10x	as long as short
Binance VVVUSDT	+0.0100%	4h	31.041	−0.436%	$33.0M	$145.0M	25x	as long as short
Bybit VVVUSDT	+0.0100%	4h	31.032	−0.465%	$38.2M	$49.6M	20x	as long as short
OKX VVV-USDT-SWAP	+0.0100%	4h	31.039	−0.441%	$4.8M	$37.8M	20x	as long as short
MEXC VVV_USDT	+0.0100%	4h	31.037	−0.447%	$6.3M	$6.7M	50x	as long as short
KuCoin VVVUSDTM	+0.0100%	4h	31.065	−0.357%	$1.9M	$2.9M	20x	as long as short
Bitget VVVUSDT	+0.0100%	4h	31.011	−0.531%	$5.7M	$8.2M	20x	as long as short
BingX VVV-USDT	+0.0100%	4h	31.036	−0.450%	—	$5.3M	—	as long as short
Variational Omni VVVlong	+0.0100%	4h	31.176	long leg	$2.0M	$245K	—
Derive VVV-PERP	+0.0100%	1h	31.036	−0.449%	$3K	$3K	5x	as long as short
Phemex VVVUSDT	+0.0100%	4h	31.067	−0.351%	$2.0M	$2.1M	50x	as long as short
Extended VVV-USD	+0.0104%	1h	31.018	−0.509%	$292K	$1.9M	5x	as long as short
Aevo VVV-PERP	+0.0104%	1h	31.061	−0.369%	$6K	—	3x	as long as short
edgeX VVVUSDC	+0.0116%	4h	31.136	−0.131%	$77K	$335K	10x	as long as short
BloFin VVV-USDT	+0.0138%	4h	31.060	−0.373%	$1.3M	$1.7M	25x	as long as short
Kalshi KXVVVPERP	+0.0144%	8h	31.076	−0.322%	$107K	$6.2M	1.7x	as long as short
Phoenix VVVshort	+0.0153%	1h	31.166	−0.033%	$38K	$264K	5x
Coinbase International VVV-PERP-INTX	+0.0168%	1h	31.105	−0.228%	$139K	$1.3M	25x	as long as short
GMX VVV/USD [ETH-USDC]	L +0.0174% / S +0.0126%	1h	31.041	−0.433%	$560K	—	100x	as long as short
Backpack VVV_USDC_PERP	+0.0215%	1h	31.078	−0.317%	$112K	$305K	5x	as long as short