Funding arb · Price arb /

VVV

all VVV markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0096%/8h= +10.5% APRpaid last 24h +0.005%

Price spread now: GMX against Bybit−0.328%7-day average +0.016% · you buy dearer than you sell

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

Long on Bybit Short on GMX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.090%+$9 on $10k

Price spread, last 4 days (all we have)+0.348%+$35 · spread now −0.328%, 7d avg +0.016%

Together, before fees+0.438%+$44 on $10k · with fees, hour by hour

Funding pays, the price is against you. GMX is 0.344% cheaper against Bybit than usual: you would sell low and buy high (spread −0.328% now, against its 7-day average of +0.016%). If the spread goes back, that is −$34 on $10k: about 12 days of funding at the current rate (+$3 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit VVVUSDT	31.030	0.0100	pay 0.0050% / 4h	2h 20m	$38.5M	$41.6M	20x
Short	GMX VVV/USD [ETH-USDC]	30.928	L +0.0421% / S −0.0196%	get 0.0025% / 1h	20m 42s	$495K	—	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against Bybit. 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 BybitbpFee GMXbpOrdersPrice spread, now −0.328%Rate

Funding earned: $20.2
Price spread: −0.328% → +0.016%: −$34.44
Slippage, 4 orders: no order book: not counted
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee GMX: 6 bp × 2 orders: −$12
Net: −$37.24
Costs to cover: 0.230%
Break-even: 19.9 days

Slippage unknown: Bybit: live order book, 3 min ago; GMX: no order-book sample. 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 Bybit live order book, 3 min ago	0.16 bp	18.6 bp −$19	41.0 bp −$410	doesn't fit	doesn't fit
Sell GMX no order-book sample	—	—	—	—	—

GMX: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	−0.0329%	1h	30.941	−0.286%	$387K	$644K	5x	as long as short
Coinbase International VVV-PERP-INTX	−0.0040%	1h	30.630	−1.289%	$142K	$1.2M	25x	as long as short
gTrade (Gains Network) VVV/USD	L +0.0004% / S −0.0002%	1h	30.936	−0.302%	$22K	—	150x	as long as short
Injective VVV/USDC PERP	+0.0033%	1h	32.820	+5.769%	$2K	$1K	5.5x	as long as short
Lighter VVV	+0.0096%	1h	31.033	+0.009%	$2.0M	$4.7M	5x	as long as short
Lighter RH VVV	+0.0096%	1h	31.057	+0.087%	$453K	$1.6M	5x	as long as short
Paradex VVV-USD-PERP	+0.0100%	8h	30.916	−0.366%	$3K	$73	5x	as long as short
Nado VVV-PERP	+0.0100%	1h	30.956	−0.240%	$163K	$891K	3x	as long as short
Hyperliquid VVV	+0.0100%	1h	31.070	+0.128%	$70.0M	$47.9M	3x	as long as short
Aster VVVUSDT	+0.0100%	4h	31.077	+0.152%	$247K	$1.0M	10x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica VVV	+0.0100%	1h	30.927	−0.331%	$182K	$128K	10x	as long as short
Binance VVVUSDT	+0.0100%	4h	31.079	+0.157%	$33.5M	$121.2M	25x	as long as short
Bybit VVVUSDTlong	+0.0100%	4h	31.030	long leg	$38.5M	$41.6M	20x
OKX VVV-USDT-SWAP	+0.0100%	4h	31.071	+0.132%	$4.8M	$30.7M	20x	as long as short
Gate VVV_USDT	+0.0100%	4h	31.046	+0.052%	$10.9M	$5.7M	25x	as long as short
MEXC VVV_USDT	+0.0100%	4h	31.036	+0.020%	$6.5M	$5.7M	50x	as long as short
KuCoin VVVUSDTM	+0.0100%	4h	30.998	−0.103%	$1.9M	$2.7M	20x	as long as short
Bitget VVVUSDT	+0.0100%	4h	31.033	+0.010%	$5.7M	$7.1M	20x	as long as short
BingX VVV-USDT	+0.0100%	4h	31.060	+0.097%	—	$4.9M	—	as long as short
Variational Omni VVV	+0.0100%	4h	30.914	−0.373%	$1.9M	$351K	—	as long as short
Polymarket Perps VVV-USD	+0.0100%	1h	30.936	−0.303%	$119K	$1.4M	3x	as long as short
Derive VVV-PERP	+0.0100%	1h	30.930	−0.322%	$3K	$3K	5x	as long as short
Phemex VVVUSDT	+0.0100%	4h	30.933	−0.312%	$2.0M	$2.1M	50x	as long as short
Extended VVV-USD	+0.0104%	1h	31.019	−0.036%	$297K	$2.2M	5x	as long as short
01 Exchange VVVUSD	+0.0104%	1h	30.955	−0.241%	$11K	$3K	3x	as long as short
Aevo VVV-PERP	+0.0104%	1h	30.947	−0.269%	$6K	—	3x	as long as short
edgeX VVVUSDC	+0.0110%	4h	30.916	−0.368%	$77K	$332K	10x	as long as short
BloFin VVV-USDT	+0.0148%	4h	30.951	−0.254%	$1.3M	$1.5M	25x	as long as short
Deribit VVV_USDC-PERPETUAL	+0.0177%	1h	30.925	−0.337%	$86K	$22K	10x	as long as short
Kalshi KXVVVPERP	+0.0181%	8h	30.963	−0.216%	$99K	$5.5M	1.7x	as long as short
Phoenix VVV	+0.0209%	1h	30.754	−0.889%	$32K	$243K	5x	as long as short
Backpack VVV_USDC_PERP	+0.0414%	1h	30.963	−0.216%	$116K	$238K	5x	as long as short
GMX VVV/USD [ETH-USDC]short	L +0.0421% / S −0.0196%	1h	30.928	−0.328%	$495K	—	100x