Funding arb · Price arb /

VVV

all VVV markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0164%/8h= −17.9% APRpaid last 24h −0.070%

Price spread now: Kalshi against GMX+0.025%7-day average −0.019% · you sell dearer than you buy

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

Long on GMX Short on Kalshi

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.380%−$38 on $10k

Price spread, last 4 days (all we have)−0.134%−$13 · spread now +0.025%, 7d avg −0.019%

Together, before fees−0.513%−$51 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Kalshi is 0.044% dearer against GMX than usual: you sell high and buy low (spread +0.025% now, against its 7-day average of −0.019%): +$4 on $10k if it goes back. Holding the pair costs −$5 a day in funding at the current rate, which eats that in about 21 hours. At the pace of the last 3 days (−0.380% in total) that is about 9 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX VVV/USD [ETH-USDC]	30.706	L +0.0426% / S −0.0176%	pay 0.0053% / 1h	51m 49s	$536K	—	100x
Short	Kalshi KXVVVPERP	30.714	0.0263	get 0.0263% / 8h	6h 51m	$94K	$5.6M	1.7x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kalshi 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 KalshibpOrdersPrice spread, now +0.025%Rate

Funding earned: −$34.36
Price spread: +0.025% → −0.019%: $4.37
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee Kalshi: 5 bp × 2 orders: −$10
Net: −$51.99
Costs to cover: 0.220%
Break-even: never at this rate

Slippage unknown: GMX: no order-book sample; Kalshi: live order book, 2 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 Kalshi live order book, 2 min ago	7.67 bp	13.8 bp −$14	23.3 bp −$233	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
RISEx VVV/USDC	−0.0329%	1h	30.689	−0.057%	$379K	$647K	5x	as long as short
Coinbase International VVV-PERP-INTX	−0.0040%	1h	30.723	+0.055%	$143K	$1.2M	25x	as long as short
Deribit VVV_USDC-PERPETUAL	0.0000%	1h	30.716	+0.031%	$85K	$22K	10x	as long as short
gTrade (Gains Network) VVV/USD	L +0.0004% / S −0.0006%	1h	30.706	0.000%	$21K	—	150x	as long as short
Injective VVV/USDC PERP	+0.0033%	1h	32.820	+6.883%	$2K	$1K	5.5x	as long as short
01 Exchange VVVUSD	+0.0048%	1h	30.701	−0.018%	$11K	$3K	3x	as long as short
Polymarket Perps VVV-USD	+0.0051%	1h	30.686	−0.066%	$118K	$1.4M	3x	as long as short
BloFin VVV-USDT	+0.0095%	4h	30.684	−0.073%	$1.3M	$1.5M	25x	as long as short
Lighter VVV	+0.0096%	1h	30.718	+0.039%	$2.0M	$4.6M	5x	as long as short
Lighter RH VVV	+0.0096%	1h	30.724	+0.057%	$448K	$1.6M	5x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Paradex VVV-USD-PERP	+0.0100%	8h	30.688	−0.059%	$3K	$73	5x	as long as short
Nado VVV-PERP	+0.0100%	1h	30.704	−0.008%	$134K	$870K	3x	as long as short
Hyperliquid VVV	+0.0100%	1h	30.744	+0.122%	$69.3M	$48.6M	3x	as long as short
Aster VVVUSDT	+0.0100%	4h	30.709	+0.009%	$244K	$1.0M	10x	as long as short
Pacifica VVV	+0.0100%	1h	30.703	−0.010%	$181K	$131K	10x	as long as short
Binance VVVUSDT	+0.0100%	4h	30.732	+0.083%	$33.1M	$123.6M	25x	as long as short
Bybit VVVUSDT	+0.0100%	4h	30.711	+0.015%	$38.1M	$42.2M	20x	as long as short
OKX VVV-USDT-SWAP	+0.0100%	4h	30.730	+0.077%	$4.8M	$31.0M	20x	as long as short
Gate VVV_USDT	+0.0100%	4h	30.689	−0.057%	$10.6M	$5.6M	25x	as long as short
MEXC VVV_USDT	+0.0100%	4h	30.736	+0.096%	$6.4M	$5.7M	50x	as long as short
KuCoin VVVUSDTM	+0.0100%	4h	30.689	−0.057%	$1.9M	$2.8M	20x	as long as short
Bitget VVVUSDT	+0.0100%	4h	30.709	+0.008%	$5.7M	$7.2M	20x	as long as short
BingX VVV-USDT	+0.0100%	4h	30.733	+0.087%	—	$4.9M	—	as long as short
Variational Omni VVV	+0.0100%	4h	30.690	−0.055%	$1.9M	$350K	—	as long as short
Derive VVV-PERP	+0.0100%	1h	30.711	+0.014%	$3K	$3K	5x	as long as short
Phemex VVVUSDT	+0.0100%	4h	30.708	+0.005%	$2.0M	$2.1M	50x	as long as short
Extended VVV-USD	+0.0104%	1h	30.731	+0.079%	$299K	$2.2M	5x	as long as short
Aevo VVV-PERP	+0.0104%	1h	30.702	−0.015%	$6K	—	3x	as long as short
edgeX VVVUSDC	+0.0106%	4h	30.670	−0.117%	$76K	$332K	10x	as long as short
Phoenix VVV	+0.0209%	1h	30.686	−0.066%	$32K	$243K	5x	as long as short
Kalshi KXVVVPERPshort	+0.0263%	8h	30.714	+0.025%	$94K	$5.6M	1.7x
GMX VVV/USD [ETH-USDC]long	L +0.0426% / S −0.0176%	1h	30.706	long leg	$536K	—	100x
Backpack VVV_USDC_PERP	+0.0443%	1h	30.745	+0.127%	$119K	$240K	5x	as long as short