Funding arb · Price arb /

VVV

all VVV markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0325%/8h= −35.6% APRpaid last 24h −0.076%

Price spread now: KuCoin against GMX−0.116%7-day average +0.013% · you buy dearer than you sell

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

Long on GMX Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.379%−$38 on $10k

Price spread, last 4 days (all we have)+0.107%+$11 · spread now −0.116%, 7d avg +0.013%

Together, before fees−0.272%−$27 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$10 a day on $10k at the current rate, and KuCoin is 0.128% cheaper against GMX than usual: you would sell low and buy high (−$13 if the spread goes back to its 7-day average of +0.013%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX VVV/USD [ETH-USDC]	30.585	L +0.0425% / S −0.0174%	pay 0.0053% / 1h	42m 36s	$536K	—	100x
Short	KuCoin VVVUSDTM	30.550	0.0100	get 0.0050% / 4h	3h 42m	$1.9M	$2.8M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now −0.116%Rate

Funding earned: −$68.18
Price spread: −0.116% → +0.013%: −$12.85
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$105.03
Costs to cover: 0.240%
Break-even: never at this rate

Slippage unknown: GMX: no order-book sample; KuCoin: live order book, 4 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 KuCoin live order book, 4 min ago	11.57 bp	39.1 bp −$39	201.8 bp −$2,018	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	−0.0417%	1h	30.534	−0.167%	$374K	$648K	5x	as long as short
Polymarket Perps VVV-USD	−0.0097%	1h	30.574	−0.037%	$128K	$1.2M	3x	as long as short
Coinbase International VVV-PERP-INTX	−0.0088%	1h	30.555	−0.101%	$149K	$1.2M	25x	as long as short
Kalshi KXVVVPERP	0.0000%	8h	30.607	+0.070%	$105K	$5.6M	1.7x	as long as short
Deribit VVV_USDC-PERPETUAL	0.0000%	1h	30.585	−0.002%	$85K	$24K	10x	as long as short
gTrade (Gains Network) VVV/USD	L +0.0004% / S −0.0003%	1h	30.589	+0.012%	$20K	—	150x	as long as short
Injective VVV/USDC PERP	+0.0033%	1h	32.820	+7.306%	$2K	$1K	5.5x	as long as short
Lighter VVV	+0.0096%	1h	30.542	−0.143%	$2.0M	$5.1M	5x	as long as short
Lighter RH VVV	+0.0096%	1h	30.561	−0.080%	$447K	$1.6M	5x	as long as short
Paradex VVV-USD-PERP	+0.0100%	8h	30.546	−0.130%	$3K	$73	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	30.593	+0.026%	$141K	$872K	3x	as long as short
Hyperliquid VVV	+0.0100%	1h	30.552	−0.109%	$69.5M	$48.8M	3x	as long as short
Aster VVVUSDT	+0.0100%	4h	30.548	−0.124%	$244K	$1.1M	10x	as long as short
Pacifica VVV	+0.0100%	1h	30.568	−0.056%	$180K	$132K	10x	as long as short
Binance VVVUSDT	+0.0100%	4h	30.558	−0.089%	$32.8M	$126.9M	25x	as long as short
Bybit VVVUSDT	+0.0100%	4h	30.538	−0.154%	$38.0M	$42.5M	20x	as long as short
OKX VVV-USDT-SWAP	+0.0100%	4h	30.557	−0.093%	$4.7M	$31.8M	20x	as long as short
Gate VVV_USDT	+0.0100%	4h	30.538	−0.155%	$10.3M	$5.8M	25x	as long as short
MEXC VVV_USDT	+0.0100%	4h	30.566	−0.064%	$6.2M	$5.8M	50x	as long as short
KuCoin VVVUSDTMshort	+0.0100%	4h	30.550	−0.116%	$1.9M	$2.8M	20x
Bitget VVVUSDT	+0.0100%	4h	30.546	−0.129%	$5.6M	$7.3M	20x	as long as short
BingX VVV-USDT	+0.0100%	4h	30.564	−0.070%	—	$5.0M	—	as long as short
Variational Omni VVV	+0.0100%	4h	30.671	+0.279%	$1.8M	$284K	—	as long as short
Derive VVV-PERP	+0.0100%	1h	30.581	−0.015%	$3K	$3K	5x	as long as short
Phemex VVVUSDT	+0.0100%	4h	30.631	+0.149%	$2.0M	$2.1M	50x	as long as short
Extended VVV-USD	+0.0104%	1h	30.533	−0.172%	$292K	$1.9M	5x	as long as short
Aevo VVV-PERP	+0.0104%	1h	30.579	−0.021%	$6K	—	3x	as long as short
edgeX VVVUSDC	+0.0110%	4h	30.694	+0.356%	$76K	$334K	10x	as long as short
BloFin VVV-USDT	+0.0120%	4h	30.588	+0.008%	$1.3M	$1.5M	25x	as long as short
Phoenix VVV	+0.0129%	1h	30.551	−0.113%	$32K	$257K	5x	as long as short
01 Exchange VVVUSD	+0.0136%	1h	30.582	−0.011%	$11K	$3K	3x	as long as short
Backpack VVV_USDC_PERP	+0.0206%	1h	30.606	+0.068%	$121K	$247K	5x	as long as short
GMX VVV/USD [ETH-USDC]long	L +0.0425% / S −0.0174%	1h	30.585	long leg	$536K	—	100x