Funding arb · Price arb /

VVV

all VVV markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0086%/8h= −9.4% APRpaid last 24h −0.098%

Price spread now: Bybit against GMX−0.020%7-day average −0.014% · you buy dearer than you sell

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

Long on GMX Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.378%−$38 on $10k

Price spread, last 3 days (all we have)−0.078%−$8 · spread now −0.020%, 7d avg −0.014%

Together, before fees−0.456%−$46 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.014%, so right now this pair is about funding alone: −$3 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX VVV/USD [ETH-USDC]	32.211	L +0.0186% / S +0.0168%	pay 0.0023% / 1h	11m 17s	$619K	—	100x
Short	Bybit VVVUSDT	32.204	0.0100	get 0.0050% / 4h	1h 11m	$39.6M	$52.8M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now −0.020%Rate

Funding earned: −$18.01
Price spread: −0.020% → −0.014%: −$0.6
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$41.61
Costs to cover: 0.230%
Break-even: never at this rate

Slippage unknown: GMX: no order-book sample; Bybit: live order book, 3 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 Bybit live order book, 3 min ago	0.16 bp	14.7 bp −$15	57.3 bp −$573	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	32.236	+0.079%	$108K	$6.9M	1.7x	as long as short
Deribit VVV_USDC-PERPETUAL	0.0000%	1h	32.204	−0.022%	$91K	$23K	10x	as long as short
gTrade (Gains Network) VVV/USD	L +0.0004% / S −0.0004%	1h	32.213	+0.008%	$19K	—	150x	as long as short
Injective VVV/USDC PERP	+0.0033%	1h	32.820	+1.892%	$2K	$1K	5.5x	as long as short
Lighter VVV	+0.0096%	1h	32.247	+0.114%	$2.3M	$5.5M	5x	as long as short
Lighter RH VVV	+0.0096%	1h	32.231	+0.063%	$479K	$1.6M	5x	as long as short
Phoenix VVV	+0.0098%	1h	32.317	+0.330%	$57K	$294K	5x	as long as short
Nado VVV-PERP	+0.0100%	1h	32.214	+0.012%	$149K	$783K	3x	as long as short
Aster VVVUSDT	+0.0100%	4h	32.225	+0.045%	$265K	$1.9M	10x	as long as short
Pacifica VVV	+0.0100%	1h	32.245	+0.106%	$185K	$183K	10x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance VVVUSDT	+0.0100%	4h	32.210	−0.004%	$33.7M	$157.4M	25x	as long as short
Bybit VVVUSDTshort	+0.0100%	4h	32.204	−0.020%	$39.6M	$52.8M	20x
OKX VVV-USDT-SWAP	+0.0100%	4h	32.208	−0.008%	$4.7M	$42.8M	20x	as long as short
Gate VVV_USDT	+0.0100%	4h	32.206	−0.015%	$10.9M	$7.8M	25x	as long as short
MEXC VVV_USDT	+0.0100%	4h	32.216	+0.016%	$6.3M	$7.1M	50x	as long as short
KuCoin VVVUSDTM	+0.0100%	4h	32.217	+0.020%	$2.0M	$2.9M	20x	as long as short
Bitget VVVUSDT	+0.0100%	4h	32.200	−0.033%	$5.9M	$8.9M	20x	as long as short
BingX VVV-USDT	+0.0100%	4h	32.220	+0.029%	—	$5.5M	—	as long as short
Variational Omni VVV	+0.0100%	4h	32.172	−0.119%	$2.1M	$183K	—	as long as short
Polymarket Perps VVV-USD	+0.0100%	1h	32.197	−0.043%	$142K	$1.2M	3x	as long as short
Derive VVV-PERP	+0.0100%	1h	32.211	0.000%	$1K	$1K	5x	as long as short
Phemex VVVUSDT	+0.0100%	4h	32.217	+0.020%	$2.1M	$2.1M	50x	as long as short
Paradex VVV-USD-PERP	+0.0100%	8h	32.238	+0.085%	$3K	$106	5x	as long as short
Extended VVV-USD	+0.0104%	1h	32.208	−0.007%	$325K	$1.6M	5x	as long as short
Aevo VVV-PERP	+0.0104%	1h	32.209	−0.005%	$6K	$13K	3x	as long as short
edgeX VVVUSDC	+0.0111%	4h	32.237	+0.083%	$80K	$331K	10x	as long as short
BloFin VVV-USDT	+0.0135%	4h	32.242	+0.097%	$1.3M	$1.8M	25x	as long as short
Coinbase International VVV-PERP-INTX	+0.0144%	1h	32.228	+0.055%	$238K	$1.3M	25x	as long as short
RISEx VVV/USDC	+0.0175%	1h	32.194	−0.051%	$395K	$606K	5x	as long as short
GMX VVV/USD [ETH-USDC]long	L +0.0186% / S +0.0168%	1h	32.211	long leg	$619K	—	100x
Backpack VVV_USDC_PERP	+0.0220%	1h	32.254	+0.135%	$122K	$373K	5x	as long as short
Hyperliquid VVV	+0.0273%	1h	32.237	+0.082%	$74.8M	$56.1M	3x	as long as short
01 Exchange VVVUSD	+0.0320%	1h	32.201	−0.030%	$12K	$3K	3x	as long as short