Funding arb · Price arb /

VVV

all VVV markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0077%/8h= −8.4% APRpaid last 24h −0.078%

Price spread now: Bitget against GMX−0.057%7-day average −0.011% · you buy dearer than you sell

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

Long on GMX Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.372%−$37 on $10k

Price spread, last 3 days (all we have)+0.134%+$13 · spread now −0.057%, 7d avg −0.011%

Together, before fees−0.238%−$24 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 Bitget is 0.045% cheaper against GMX than usual: you would sell low and buy high (−$5 if the spread goes back to its 7-day average of −0.011%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX VVV/USD [ETH-USDC]	31.654	L +0.0177% / S +0.0122%	pay 0.0022% / 1h	53m 29s	$573K	—	100x
Short	Bitget VVVUSDT	31.636	0.0100	get 0.0050% / 4h	2h 53m	$5.7M	$8.9M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget 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 BitgetbpOrdersPrice spread, now −0.057%Rate

Funding earned: −$16.18
Price spread: −0.057% → −0.011%: −$4.54
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$44.72
Costs to cover: 0.240%
Break-even: never at this rate

Slippage unknown: GMX: no order-book sample; Bitget: live order book, 5 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 Bitget live order book, 5 min ago	4.42 bp	17.1 bp −$17	56.4 bp −$564	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
Bybit VVVUSDT	−0.0282%	4h	31.642	−0.038%	$38.5M	$51.7M	20x	as long as short
Polymarket Perps VVV-USD	−0.0207%	1h	31.627	−0.085%	$150K	$1.2M	3x	as long as short
Gate VVV_USDT	−0.0178%	4h	31.633	−0.066%	$10.6M	$7.0M	25x	as long as short
RISEx VVV/USDC	−0.0111%	1h	31.595	−0.186%	$388K	$615K	5x	as long as short
Lighter VVV	−0.0088%	1h	31.572	−0.259%	$2.1M	$5.6M	5x	as long as short
01 Exchange VVVUSD	−0.0032%	1h	31.602	−0.164%	$11K	$3K	3x	as long as short
Kalshi KXVVVPERP	0.0000%	8h	31.531	−0.389%	$116K	$6.5M	1.7x	as long as short
Phoenix VVV	0.0000%	1h	31.514	−0.442%	$54K	$289K	5x	as long as short
Deribit VVV_USDC-PERPETUAL	0.0000%	1h	31.518	−0.428%	$88K	$24K	10x	as long as short
gTrade (Gains Network) VVV/USD	L +0.0004% / S −0.0004%	1h	31.657	+0.010%	$19K	—	150x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Injective VVV/USDC PERP	+0.0033%	1h	32.820	+3.684%	$2K	$1K	5.5x	as long as short
BloFin VVV-USDT	+0.0067%	4h	31.549	−0.332%	$1.3M	$1.8M	25x	as long as short
Lighter RH VVV	+0.0096%	1h	31.577	−0.243%	$466K	$1.5M	5x	as long as short
Paradex VVV-USD-PERP	+0.0100%	8h	31.568	−0.272%	$3K	$106	5x	as long as short
Nado VVV-PERP	+0.0100%	1h	31.666	+0.036%	$124K	$850K	3x	as long as short
Hyperliquid VVV	+0.0100%	1h	31.643	−0.035%	$73.0M	$55.2M	3x	as long as short
Aster VVVUSDT	+0.0100%	4h	31.579	−0.237%	$257K	$1.9M	10x	as long as short
Pacifica VVV	+0.0100%	1h	31.601	−0.166%	$189K	$183K	10x	as long as short
Binance VVVUSDT	+0.0100%	4h	31.650	−0.014%	$33.4M	$153.6M	25x	as long as short
OKX VVV-USDT-SWAP	+0.0100%	4h	31.647	−0.022%	$4.7M	$40.8M	20x	as long as short
MEXC VVV_USDT	+0.0100%	4h	31.633	−0.066%	$6.4M	$6.8M	50x	as long as short
KuCoin VVVUSDTM	+0.0100%	4h	31.569	−0.268%	$1.9M	$2.8M	20x	as long as short
Bitget VVVUSDTshort	+0.0100%	4h	31.636	−0.057%	$5.7M	$8.9M	20x
BingX VVV-USDT	+0.0100%	4h	31.661	+0.022%	—	$5.4M	—	as long as short
Backpack VVV_USDC_PERP	+0.0100%	1h	31.571	−0.263%	$123K	$329K	5x	as long as short
Variational Omni VVV	+0.0100%	4h	31.521	−0.420%	$2.1M	$190K	—	as long as short
Derive VVV-PERP	+0.0100%	1h	31.524	−0.410%	$3K	$3K	5x	as long as short
Phemex VVVUSDT	+0.0100%	4h	31.571	−0.262%	$2.0M	$2.1M	50x	as long as short
Extended VVV-USD	+0.0104%	1h	31.589	−0.205%	$299K	$2.0M	5x	as long as short
Aevo VVV-PERP	+0.0104%	1h	31.534	−0.379%	$6K	—	3x	as long as short
edgeX VVVUSDC	+0.0120%	4h	31.513	−0.445%	$78K	$334K	10x	as long as short
GMX VVV/USD [ETH-USDC]long	L +0.0177% / S +0.0122%	1h	31.654	long leg	$573K	—	100x
Coinbase International VVV-PERP-INTX	+0.0208%	1h	31.695	+0.131%	$243K	$1.2M	25x	as long as short