Funding arb · Price arb /

VVV

all VVV markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0095%/8h= +10.4% APRpaid last 24h +0.016%

Price spread now: GMX against Phemex+0.415%52s7-day average −0.070% · you sell dearer than you buy

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

Long on Phemex Short on GMX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.099%+$10 on $10k

Price spread, last 3 days (all we have)−0.628%−$63 · spread now +0.415%, 7d avg −0.070%

Together, before fees−0.529%−$53 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and GMX is 0.485% dearer against Phemex than usual: you sell high and buy low: +$49 more if the spread goes back to its 7-day average of −0.070%. The two prices were read 52 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	Phemex VVVUSDT	31.774	0.0100	pay 0.0050% / 4h	2h 24m	$2.1M	$2.0M	50x
Short	GMX VVV/USD [ETH-USDC]	31.906	L +0.0445% / S −0.0195%	get 0.0024% / 1h	24m 25s	$545K	—	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against Phemex. 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 PhemexbpFee GMXbpOrdersPrice spread, now +0.415%Rate

Funding earned: $19.87
Price spread: +0.415% → −0.070%: $48.52
Slippage, 4 orders: no order book: not counted
Fee Phemex: 6 bp × 2 orders: −$12
Fee GMX: 6 bp × 2 orders: −$12
Net: $44.39
Costs to cover: 0.240%
Break-even: from the start

Slippage unknown: Phemex: 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 Phemex live order book, 4 min ago	0.79 bp	71.7 bp −$72	doesn't fit	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
Kalshi KXVVVPERP	0.0000%	8h	31.782	+0.025%	$118K	$6.8M	1.7x	as long as short
Deribit VVV_USDC-PERPETUAL	0.0000%	1h	31.971	+0.621%	$92K	$22K	10x	as long as short
gTrade (Gains Network) VVV/USD	L +0.0004% / S −0.0004%	1h	31.939	+0.519%	$19K	—	150x	as long as short
Injective VVV/USDC PERP	+0.0033%	1h	32.820	+3.292%	$2K	$1K	5.5x	as long as short
01 Exchange VVVUSD	+0.0040%	1h	31.911	+0.431%	$11K	$3K	3x	as long as short
Phoenix VVV	+0.0077%	1h	31.571	−0.639%	$55K	$292K	5x	as long as short
Polymarket Perps VVV-USD	+0.0077%	1h	31.864	+0.283%	$142K	$1.2M	3x	as long as short
RISEx VVV/USDC	+0.0078%	1h	31.890	+0.364%	$392K	$576K	5x	as long as short
Lighter VVV	+0.0096%	1h	31.908	+0.421%	$2.2M	$5.4M	5x	as long as short
Lighter RH VVV	+0.0096%	1h	31.886	+0.352%	$475K	$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
Nado VVV-PERP	+0.0100%	1h	31.879	+0.332%	$147K	$781K	3x	as long as short
Hyperliquid VVV	+0.0100%	1h	31.921	+0.463%	$72.8M	$54.1M	3x	as long as short
Aster VVVUSDT	+0.0100%	4h	31.870	+0.302%	$279K	$1.8M	10x	as long as short
Pacifica VVV	+0.0100%	1h	31.901	+0.400%	$189K	$176K	10x	as long as short
Binance VVVUSDT	+0.0100%	4h	31.918	+0.453%	$33.7M	$154.6M	25x	as long as short
Bybit VVVUSDT	+0.0100%	4h	31.963	+0.595%	$39.4M	$51.8M	20x	as long as short
OKX VVV-USDT-SWAP	+0.0100%	4h	31.974	+0.629%	$4.8M	$41.8M	20x	as long as short
Gate VVV_USDT	+0.0100%	4h	31.899	+0.393%	$10.8M	$7.7M	25x	as long as short
MEXC VVV_USDT	+0.0100%	4h	31.901	+0.400%	$17.2M	$6.9M	50x	as long as short
KuCoin VVVUSDTM	+0.0100%	4h	31.886	+0.352%	$2.1M	$2.8M	20x	as long as short
Bitget VVVUSDT	+0.0100%	4h	31.958	+0.579%	$5.8M	$8.6M	20x	as long as short
BingX VVV-USDT	+0.0100%	4h	31.952	+0.560%	—	$5.4M	—	as long as short
Variational Omni VVV	+0.0100%	4h	31.838	+0.201%	$2.1M	$180K	—	as long as short
Derive VVV-PERP	+0.0100%	1h	31.953	+0.564%	$1K	$1K	5x	as long as short
Phemex VVVUSDTlong	+0.0100%	4h	31.774	long leg	$2.1M	$2.0M	50x
Paradex VVV-USD-PERP	+0.0100%	8h	31.897	+0.386%	$3K	$106	5x	as long as short
Extended VVV-USD	+0.0104%	1h	31.947	+0.545%	$320K	$1.6M	5x	as long as short
Aevo VVV-PERP	+0.0104%	1h	31.950	+0.554%	$6K	$13K	3x	as long as short
edgeX VVVUSDC	+0.0120%	4h	31.836	+0.195%	$79K	$330K	10x	as long as short
BloFin VVV-USDT	+0.0138%	4h	31.835	+0.192%	$1.3M	$1.7M	25x	as long as short
Coinbase International VVV-PERP-INTX	+0.0232%	1h	31.847	+0.228%	$205K	$1.3M	25x	as long as short
Backpack VVV_USDC_PERP	+0.0256%	1h	31.856	+0.259%	$120K	$380K	5x	as long as short
GMX VVV/USD [ETH-USDC]short	L +0.0445% / S −0.0195%	1h	31.906	+0.415%	$545K	—	100x