Funding arb · Price arb /

VVV

all VVV markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0025%/8h= −2.8% APRpaid last 24h −0.003%

Price spread now: GMX against Kalshi−0.234%50s7-day average +0.019% · you buy dearer than you sell

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

Long on Kalshi Short on GMX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.084%+$8 on $10k

Price spread, last 4 days (all we have)+0.322%+$32 · spread now −0.234%, 7d avg +0.019%

Together, before fees+0.407%+$41 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and GMX is 0.253% cheaper against Kalshi than usual: you would sell low and buy high (−$25 if the spread goes back to its 7-day average of +0.019%). Swap the legs. Mind the row above: over the last 3 days funding on this pair paid +0.084%, so the current rate has only just turned against you. 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	Kalshi KXVVVPERP	30.723	0.0201	pay 0.0201% / 8h	6h 34m	$93K	$5.4M	1.7x
Short	GMX VVV/USD [ETH-USDC]	30.651	L +0.0427% / S −0.0176%	get 0.0022% / 1h	34m 22s	$535K	—	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against Kalshi. 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 KalshibpFee GMXbpOrdersPrice spread, now −0.234%Rate

Funding earned: −$5.32
Price spread: −0.234% → +0.019%: −$25.33
Slippage, 4 orders: no order book: not counted
Fee Kalshi: 5 bp × 2 orders: −$10
Fee GMX: 6 bp × 2 orders: −$12
Net: −$52.65
Costs to cover: 0.220%
Break-even: never at this rate

Slippage unknown: Kalshi: live order book, 4 min ago; GMX: no order-book sample. 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 Kalshi live order book, 4 min ago	4.91 bp	13.9 bp −$14	21.0 bp −$210	doesn't fit	doesn't fit
Sell GMX no order-book sample	—	—	—	—	—

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	30.650	−0.238%	$380K	$648K	5x	as long as short
Coinbase International VVV-PERP-INTX	−0.0040%	1h	30.630	−0.303%	$142K	$1.2M	25x	as long as short
gTrade (Gains Network) VVV/USD	L +0.0004% / S −0.0002%	1h	30.661	−0.203%	$22K	—	150x	as long as short
Injective VVV/USDC PERP	+0.0033%	1h	32.820	+6.826%	$2K	$1K	5.5x	as long as short
Deribit VVV_USDC-PERPETUAL	+0.0040%	1h	30.658	−0.213%	$85K	$22K	10x	as long as short
Polymarket Perps VVV-USD	+0.0061%	1h	30.643	−0.260%	$124K	$1.4M	3x	as long as short
01 Exchange VVVUSD	+0.0080%	1h	30.667	−0.182%	$11K	$3K	3x	as long as short
BloFin VVV-USDT	+0.0083%	4h	30.771	+0.156%	$1.3M	$1.5M	25x	as long as short
Lighter VVV	+0.0096%	1h	30.656	−0.219%	$2.0M	$4.6M	5x	as long as short
Lighter RH VVV	+0.0096%	1h	30.665	−0.189%	$446K	$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	30.653	−0.226%	$3K	$73	5x	as long as short
Nado VVV-PERP	+0.0100%	1h	30.688	−0.112%	$134K	$870K	3x	as long as short
Hyperliquid VVV	+0.0100%	1h	30.675	−0.156%	$69.1M	$47.9M	3x	as long as short
Aster VVVUSDT	+0.0100%	4h	30.692	−0.102%	$244K	$1.0M	10x	as long as short
Pacifica VVV	+0.0100%	1h	30.684	−0.128%	$181K	$130K	10x	as long as short
Binance VVVUSDT	+0.0100%	4h	30.667	−0.181%	$33.0M	$121.4M	25x	as long as short
Bybit VVVUSDT	+0.0100%	4h	30.643	−0.260%	$38.0M	$41.7M	20x	as long as short
OKX VVV-USDT-SWAP	+0.0100%	4h	30.648	−0.244%	$4.8M	$30.4M	20x	as long as short
Gate VVV_USDT	+0.0100%	4h	30.656	−0.218%	$10.7M	$5.6M	25x	as long as short
MEXC VVV_USDT	+0.0100%	4h	30.686	−0.120%	$6.4M	$5.7M	50x	as long as short
KuCoin VVVUSDTM	+0.0100%	4h	30.685	−0.124%	$1.9M	$2.7M	20x	as long as short
Bitget VVVUSDT	+0.0100%	4h	30.671	−0.169%	$5.7M	$7.2M	20x	as long as short
BingX VVV-USDT	+0.0100%	4h	30.665	−0.189%	—	$4.9M	—	as long as short
Variational Omni VVV	+0.0100%	4h	30.640	−0.271%	$1.9M	$350K	—	as long as short
Derive VVV-PERP	+0.0100%	1h	30.650	−0.239%	$3K	$3K	5x	as long as short
Phemex VVVUSDT	+0.0100%	4h	30.764	+0.133%	$2.0M	$2.1M	50x	as long as short
edgeX VVVUSDC	+0.0103%	4h	30.612	−0.360%	$76K	$333K	10x	as long as short
Extended VVV-USD	+0.0104%	1h	30.664	−0.192%	$298K	$2.2M	5x	as long as short
Aevo VVV-PERP	+0.0104%	1h	30.671	−0.169%	$6K	—	3x	as long as short
Kalshi KXVVVPERPlong	+0.0201%	8h	30.723	long leg	$93K	$5.4M	1.7x
Phoenix VVV	+0.0209%	1h	30.579	−0.469%	$32K	$243K	5x	as long as short
Backpack VVV_USDC_PERP	+0.0405%	1h	30.772	+0.158%	$121K	$238K	5x	as long as short
GMX VVV/USD [ETH-USDC]short	L +0.0427% / S −0.0176%	1h	30.651	−0.234%	$535K	—	100x