Funding arb · Price arb /

VVV

all VVV markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0220%/8h= −24.1% APRpaid last 24h −0.019%

Price spread now: GMX against BingX−0.146%7-day average −0.046% · you buy dearer than you sell

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

Long on BingX Short on GMX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.039%+$4 on $10k

Price spread, last 3 days (all we have)−0.108%−$11 · spread now −0.146%, 7d avg −0.046%

Together, before fees−0.069%−$7 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$7 a day on $10k at the current rate, and GMX is 0.100% cheaper against BingX than usual: you would sell low and buy high (−$10 if the spread goes back to its 7-day average of −0.046%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 3 days it paid 0.039% in total (about 4.5% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX VVV-USDT	31.916	0.0100	pay 0.0050% / 4h	3h 55m	—	$5.5M	—
Short	GMX VVV/USD [ETH-USDC]	31.870	L +0.0179% / S +0.0120%	pay 0.0015% / 1h	55m 46s	$576K	—	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against BingX. 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 BingXbpFee GMXbpOrdersPrice spread, now −0.146%Rate

Funding earned: −$46.18
Price spread: −0.146% → −0.046%: −$10
Slippage, 4 orders: no order book: not counted
Fee BingX: 5 bp × 2 orders: −$10
Fee GMX: 6 bp × 2 orders: −$12
Net: −$78.18
Costs to cover: 0.220%
Break-even: never at this rate

Slippage unknown: BingX: live order book, 14 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 BingX live order book, 14 min ago	0.16 bp	9.5 bp −$9	26.8 bp −$268	246.2 bp −$24.6K	707.1 bp −$353.6K
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
Polymarket Perps VVV-USD	−0.0195%	1h	31.933	+0.053%	$146K	$1.2M	3x	as long as short
RISEx VVV/USDC	−0.0015%	1h	31.960	+0.139%	$393K	$599K	5x	as long as short
01 Exchange VVVUSD	0.0000%	1h	31.980	+0.201%	$11K	$3K	3x	as long as short
Kalshi KXVVVPERP	0.0000%	8h	31.944	+0.088%	$109K	$6.8M	1.7x	as long as short
Deribit VVV_USDC-PERPETUAL	0.0000%	1h	31.943	+0.086%	$90K	$23K	10x	as long as short
gTrade (Gains Network) VVV/USD	L +0.0004% / S −0.0004%	1h	31.892	−0.076%	$19K	—	150x	as long as short
Injective VVV/USDC PERP	+0.0033%	1h	32.820	+2.832%	$2K	$1K	5.5x	as long as short
BloFin VVV-USDT	+0.0087%	4h	31.937	+0.066%	$1.3M	$1.8M	25x	as long as short
Lighter VVV	+0.0096%	1h	31.905	−0.034%	$2.2M	$5.9M	5x	as long as short
Lighter RH VVV	+0.0096%	1h	31.901	−0.047%	$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	31.885	−0.096%	$126K	$850K	3x	as long as short
Hyperliquid VVV	+0.0100%	1h	31.925	+0.028%	$74.0M	$55.4M	3x	as long as short
Aster VVVUSDT	+0.0100%	4h	31.934	+0.056%	$261K	$1.9M	10x	as long as short
Pacifica VVV	+0.0100%	1h	31.938	+0.069%	$191K	$191K	10x	as long as short
Binance VVVUSDT	+0.0100%	4h	31.939	+0.073%	$33.5M	$155.7M	25x	as long as short
Bybit VVVUSDT	+0.0100%	4h	31.940	+0.075%	$39.2M	$51.7M	20x	as long as short
OKX VVV-USDT-SWAP	+0.0100%	4h	31.955	+0.122%	$4.7M	$41.9M	20x	as long as short
Gate VVV_USDT	+0.0100%	4h	31.906	−0.031%	$10.7M	$7.3M	25x	as long as short
MEXC VVV_USDT	+0.0100%	4h	31.937	+0.066%	$6.4M	$6.9M	50x	as long as short
KuCoin VVVUSDTM	+0.0100%	4h	31.927	+0.034%	$2.0M	$2.8M	20x	as long as short
Bitget VVVUSDT	+0.0100%	4h	31.946	+0.094%	$5.8M	$8.9M	20x	as long as short
BingX VVV-USDTlong	+0.0100%	4h	31.916	long leg	—	$5.5M	—
Backpack VVV_USDC_PERP	+0.0100%	1h	31.918	+0.006%	$124K	$339K	5x	as long as short
Variational Omni VVV	+0.0100%	4h	31.948	+0.099%	$2.1M	$183K	—	as long as short
Derive VVV-PERP	+0.0100%	1h	31.925	+0.027%	$2K	$2K	5x	as long as short
Phemex VVVUSDT	+0.0100%	4h	31.914	−0.006%	$2.1M	$2.1M	50x	as long as short
Paradex VVV-USD-PERP	+0.0100%	8h	31.937	+0.066%	$3K	$106	5x	as long as short
Extended VVV-USD	+0.0104%	1h	31.915	−0.003%	$303K	$1.6M	5x	as long as short
Aevo VVV-PERP	+0.0104%	1h	31.942	+0.083%	$6K	—	3x	as long as short
edgeX VVVUSDC	+0.0109%	4h	31.960	+0.138%	$79K	$333K	10x	as long as short
Phoenix VVV	+0.0124%	1h	31.987	+0.222%	$56K	$295K	5x	as long as short
GMX VVV/USD [ETH-USDC]short	L +0.0179% / S +0.0120%	1h	31.870	−0.146%	$576K	—	100x
Coinbase International VVV-PERP-INTX	+0.0320%	1h	32.278	+1.133%	$242K	$1.3M	25x	as long as short