Funding arb · Price arb /

VVV

all VVV markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0078%/8h= −8.5% APRpaid last 24h −0.083%

Price spread now: Variational Omni against GMX+0.367%50s7-day average 0.000% · you sell dearer than you buy

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

Long on GMX Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.376%−$38 on $10k

Price spread, last 3 days (all we have)−0.525%−$52 · spread now +0.367%, 7d avg 0.000%

Together, before fees−0.901%+ Points / potential airdropVariational Omni: Active · farm board−$90 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Variational Omni is 0.368% dearer against GMX than usual: you sell high and buy low (spread +0.367% now, against its 7-day average of 0.000%): +$37 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 16 days. At the pace of the last 3 days (−0.376% in total) that is about 3.1 days. The two prices were read 50 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX VVV/USD [ETH-USDC]	31.909	L +0.0178% / S +0.0121%	pay 0.0022% / 1h	16m 31s	$577K	—	100x
Short	Variational Omni VVV	32.026	0.0100	get 0.0050% / 4h	3h 16m	$2.1M	$190K	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against GMX. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 Variational OmnibpOrdersPrice spread, now +0.367%Rate

Funding earned: −$16.34
Price spread: +0.367% → 0.000%: $36.77
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee Variational Omni: 0 bp × 2 orders: $0
Net: $8.43
Costs to cover: 0.120%
Break-even: from the start

Slippage unknown: GMX: no order-book sample; Variational Omni: RFQ quote, 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 Variational Omni RFQ quote, 3 min ago	4.75 bp	doesn't fit	44.8 bp −$448	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
Polymarket Perps VVV-USD	−0.0257%	1h	31.890	−0.059%	$146K	$1.2M	3x	as long as short
Gate VVV_USDT	−0.0086%	4h	31.913	+0.013%	$10.7M	$7.4M	25x	as long as short
Bybit VVVUSDT	−0.0066%	4h	31.927	+0.058%	$39.1M	$51.5M	20x	as long as short
01 Exchange VVVUSD	−0.0016%	1h	31.929	+0.063%	$11K	$3K	3x	as long as short
RISEx VVV/USDC	−0.0015%	1h	31.904	−0.015%	$392K	$602K	5x	as long as short
Kalshi KXVVVPERP	0.0000%	8h	31.931	+0.069%	$110K	$6.5M	1.7x	as long as short
Phoenix VVV	0.0000%	1h	31.896	−0.041%	$56K	$298K	5x	as long as short
Deribit VVV_USDC-PERPETUAL	0.0000%	1h	31.914	+0.015%	$90K	$23K	10x	as long as short
gTrade (Gains Network) VVV/USD	L +0.0004% / S −0.0004%	1h	31.922	+0.040%	$19K	—	150x	as long as short
Injective VVV/USDC PERP	+0.0033%	1h	32.820	+2.855%	$2K	$1K	5.5x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter VVV	+0.0096%	1h	31.912	+0.009%	$2.2M	$5.9M	5x	as long as short
Lighter RH VVV	+0.0096%	1h	31.904	−0.016%	$472K	$1.6M	5x	as long as short
Nado VVV-PERP	+0.0100%	1h	31.914	+0.017%	$125K	$850K	3x	as long as short
Hyperliquid VVV	+0.0100%	1h	31.932	+0.072%	$74.2M	$55.0M	3x	as long as short
Aster VVVUSDT	+0.0100%	4h	31.921	+0.038%	$260K	$1.9M	10x	as long as short
Pacifica VVV	+0.0100%	1h	31.955	+0.145%	$191K	$183K	10x	as long as short
Binance VVVUSDT	+0.0100%	4h	31.925	+0.052%	$33.6M	$154.2M	25x	as long as short
OKX VVV-USDT-SWAP	+0.0100%	4h	31.916	+0.022%	$4.7M	$41.4M	20x	as long as short
MEXC VVV_USDT	+0.0100%	4h	31.936	+0.085%	$6.5M	$7.0M	50x	as long as short
KuCoin VVVUSDTM	+0.0100%	4h	31.929	+0.063%	$2.0M	$2.8M	20x	as long as short
Bitget VVVUSDT	+0.0100%	4h	31.936	+0.085%	$5.8M	$8.9M	20x	as long as short
BingX VVV-USDT	+0.0100%	4h	31.923	+0.044%	—	$5.4M	—	as long as short
Backpack VVV_USDC_PERP	+0.0100%	1h	31.977	+0.214%	$123K	$333K	5x	as long as short
Variational Omni VVVshort	+0.0100%	4h	32.026	+0.367%	$2.1M	$190K	—
Derive VVV-PERP	+0.0100%	1h	31.914	+0.017%	$3K	$2K	5x	as long as short
Phemex VVVUSDT	+0.0100%	4h	31.938	+0.091%	$2.1M	$2.1M	50x	as long as short
Paradex VVV-USD-PERP	+0.0100%	8h	31.908	−0.004%	$3K	$106	5x	as long as short
Extended VVV-USD	+0.0104%	1h	31.903	−0.019%	$304K	$2.0M	5x	as long as short
Aevo VVV-PERP	+0.0104%	1h	31.931	+0.068%	$6K	—	3x	as long as short
edgeX VVVUSDC	+0.0114%	4h	32.008	+0.310%	$80K	$334K	10x	as long as short
BloFin VVV-USDT	+0.0129%	4h	31.965	+0.176%	$1.3M	$1.8M	25x	as long as short
GMX VVV/USD [ETH-USDC]long	L +0.0178% / S +0.0121%	1h	31.909	long leg	$577K	—	100x
Coinbase International VVV-PERP-INTX	+0.0320%	1h	32.090	+0.569%	$247K	$1.3M	25x	as long as short