VVV

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0076%/8h= −8.3% APRnext payment −$0.10 per $10,000 · paid last 24h +0.029%

Price spread now: Backpack against GMX+0.091%7-day average +0.113% · you sell dearer than you buy

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

Long on GMX Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.068%+$7 on $10k

Price spread, last 3 days (all we have)+0.114%+$11 · spread now +0.091%, 7d avg +0.113%

Together, before fees+0.182%+$18 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Backpack is 0.022% cheaper against GMX than usual: you would sell low and buy high (−$2 if the spread goes back to its 7-day average of +0.113%). Swap the legs. Mind the row above: over the last 3 days funding on this pair paid +0.068%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX VVV/USD [ETH-USDC]	32.215	L +0.0181% / S +0.0172%	pay 0.0023% / 1h	33m 27s	$619K	—	100x
Short	Backpack VVV_USDC_PERP	32.244	0.0105	get 0.0013% / 1h	33m 27s	$122K	$358K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against GMX. 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 GMXbpFee BackpackbpOrdersPrice spread, now +0.091%Rate

Funding earned: −$15.99
Price spread: +0.091% → +0.113%: −$2.18
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee Backpack: 5 bp × 2 orders: −$10
Net: −$40.18
Costs to cover: 0.220%
Break-even: never at this rate

Slippage unknown: GMX: no order-book sample; Backpack: live order book, 45 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 GMX no order-book sample	—	—	—	—	—
Sell Backpack live order book, 45 min ago	2.36 bp	14.0 bp −$14	doesn't fit	doesn't fit	doesn't fit

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
Kalshi KXVVVPERP	0.0000%	8h	32.231	+0.050%	$113K	$6.9M	1.7x	as long as short
Deribit VVV_USDC-PERPETUAL	0.0000%	1h	32.219	+0.013%	$91K	$23K	10x	as long as short
gTrade (Gains Network) VVV/USD	L +0.0004% / S −0.0004%	1h	32.216	+0.003%	$19K	—	150x	as long as short
Injective VVV/USDC PERP	+0.0033%	1h	32.820	+1.879%	$2K	$1K	5.5x	as long as short
RISEx VVV/USDC	+0.0040%	1h	32.216	+0.004%	$396K	$604K	5x	as long as short
Polymarket Perps VVV-USD	+0.0054%	1h	32.190	−0.077%	$147K	$1.2M	3x	as long as short
01 Exchange VVVUSD	+0.0064%	1h	32.204	−0.034%	$12K	$3K	3x	as long as short
Lighter VVV	+0.0096%	1h	32.237	+0.070%	$2.3M	$5.5M	5x	as long as short
Lighter RH VVV	+0.0096%	1h	32.205	−0.030%	$479K	$1.6M	5x	as long as short
Nado VVV-PERP	+0.0100%	1h	32.226	+0.036%	$127K	$850K	3x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid VVV	+0.0100%	1h	32.250	+0.109%	$74.7M	$55.7M	3x	as long as short
Aster VVVUSDT	+0.0100%	4h	32.200	−0.044%	$264K	$1.9M	10x	as long as short
Pacifica VVV	+0.0100%	1h	32.229	+0.045%	$193K	$191K	10x	as long as short
Binance VVVUSDT	+0.0100%	4h	32.212	−0.009%	$33.7M	$156.8M	25x	as long as short
Bybit VVVUSDT	+0.0100%	4h	32.200	−0.045%	$39.5M	$52.5M	20x	as long as short
OKX VVV-USDT-SWAP	+0.0100%	4h	32.213	−0.006%	$4.7M	$42.6M	20x	as long as short
Gate VVV_USDT	+0.0100%	4h	32.193	−0.068%	$10.8M	$7.5M	25x	as long as short
MEXC VVV_USDT	+0.0100%	4h	32.214	−0.002%	$6.5M	$7.0M	50x	as long as short
KuCoin VVVUSDTM	+0.0100%	4h	32.203	−0.037%	$2.0M	$2.8M	20x	as long as short
Bitget VVVUSDT	+0.0100%	4h	32.195	−0.061%	$5.8M	$8.9M	20x	as long as short
BingX VVV-USDT	+0.0100%	4h	32.221	+0.019%	—	$5.5M	—	as long as short
Variational Omni VVV	+0.0100%	4h	32.201	−0.043%	$2.1M	$183K	—	as long as short
Derive VVV-PERP	+0.0100%	1h	32.215	+0.001%	$1K	$1K	5x	as long as short
Phemex VVVUSDT	+0.0100%	4h	32.208	−0.021%	$2.1M	$2.1M	50x	as long as short
Paradex VVV-USD-PERP	+0.0100%	8h	32.228	+0.040%	$3K	$106	5x	as long as short
Extended VVV-USD	+0.0104%	1h	32.221	+0.019%	$323K	$1.6M	5x	as long as short
Aevo VVV-PERP	+0.0104%	1h	32.199	−0.051%	$6K	$13K	3x	as long as short
Backpack VVV_USDC_PERPshort	+0.0105%	1h	32.244	+0.091%	$122K	$358K	5x
edgeX VVVUSDC	+0.0115%	4h	32.226	+0.034%	$80K	$333K	10x	as long as short
Phoenix VVV	+0.0124%	1h	32.236	+0.066%	$56K	$299K	5x	as long as short
BloFin VVV-USDT	+0.0149%	4h	32.165	−0.155%	$1.3M	$1.8M	25x	as long as short
GMX VVV/USD [ETH-USDC]long	L +0.0181% / S +0.0172%	1h	32.215	long leg	$619K	—	100x
Coinbase International VVV-PERP-INTX	+0.0192%	1h	32.278	+0.195%	$242K	$1.3M	25x	as long as short