VVV

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0032%/8h= +3.5% APRnext payment +$0.04 per $10,000 · paid last 24h +0.039%

Price spread now: Backpack against GMX+0.042%7-day average +0.109% · you sell dearer than you buy

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

Long on GMX Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.068%+$7 on $10k

Price spread, last 4 days (all we have)−0.082%−$8 · spread now +0.042%, 7d avg +0.109%

Together, before fees−0.014%−$1 on $10k · with fees, hour by hour

Funding pays, the price is against you. Backpack is 0.068% cheaper against GMX than usual: you would sell low and buy high (spread +0.042% now, against its 7-day average of +0.109%). If the spread goes back, that is −$7 on $10k: about 7.1 days of funding at the current rate (+$1 a day). At the pace of the last 3 days (+0.068% in total) that is about 3.2 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX VVV/USD [ETH-USDC]	31.021	L +0.0174% / S +0.0126%	pay 0.0022% / 1h	31m 45s	$559K	—	100x
Short	Backpack VVV_USDC_PERP	31.034	0.0206	get 0.0026% / 1h	31m 45s	$113K	$303K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack 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 BackpackbpOrdersPrice spread, now +0.042%Rate

Funding earned: $6.68
Price spread: +0.042% → +0.109%: −$6.76
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee Backpack: 5 bp × 2 orders: −$10
Net: −$22.08
Costs to cover: 0.220%
Break-even: 30.1 days

Slippage unknown: GMX: no order-book sample; Backpack: live order book, 32 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 Backpack live order book, 32 min ago	3.22 bp	16.9 bp −$17	doesn't fit	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	−0.0152%	1h	31.002	−0.062%	$381K	$640K	5x	as long as short
Gate VVV_USDT	−0.0100%	4h	31.008	−0.042%	$10.4M	$6.2M	25x	as long as short
Deribit VVV_USDC-PERPETUAL	0.0000%	1h	31.008	−0.042%	$86K	$24K	10x	as long as short
gTrade (Gains Network) VVV/USD	L +0.0004% / S −0.0002%	1h	31.029	+0.027%	$23K	—	150x	as long as short
Polymarket Perps VVV-USD	+0.0022%	1h	31.014	−0.022%	$134K	$1.2M	3x	as long as short
01 Exchange VVVUSD	+0.0032%	1h	31.018	−0.009%	$11K	$3K	3x	as long as short
Injective VVV/USDC PERP	+0.0033%	1h	32.820	+5.800%	$2K	$1K	5.5x	as long as short
Lighter VVV	+0.0096%	1h	31.020	−0.003%	$2.1M	$5.4M	5x	as long as short
Lighter RH VVV	+0.0096%	1h	31.009	−0.038%	$458K	$1.5M	5x	as long as short
Paradex VVV-USD-PERP	+0.0100%	8h	31.026	+0.016%	$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	31.026	+0.018%	$132K	$846K	3x	as long as short
Hyperliquid VVV	+0.0100%	1h	31.043	+0.071%	$71.1M	$51.1M	3x	as long as short
Aster VVVUSDT	+0.0100%	4h	31.034	+0.043%	$250K	$1.7M	10x	as long as short
Pacifica VVV	+0.0100%	1h	31.047	+0.084%	$186K	$161K	10x	as long as short
Binance VVVUSDT	+0.0100%	4h	31.032	+0.036%	$33.0M	$143.0M	25x	as long as short
Bybit VVVUSDT	+0.0100%	4h	31.026	+0.016%	$38.2M	$47.1M	20x	as long as short
OKX VVV-USDT-SWAP	+0.0100%	4h	31.031	+0.032%	$4.8M	$37.7M	20x	as long as short
MEXC VVV_USDT	+0.0100%	4h	31.032	+0.036%	$6.3M	$6.7M	50x	as long as short
KuCoin VVVUSDTM	+0.0100%	4h	31.042	+0.068%	$1.9M	$2.9M	20x	as long as short
Bitget VVVUSDT	+0.0100%	4h	31.004	−0.055%	$5.7M	$8.2M	20x	as long as short
BingX VVV-USDT	+0.0100%	4h	31.031	+0.032%	—	$5.3M	—	as long as short
Variational Omni VVV	+0.0100%	4h	31.176	+0.501%	$2.0M	$245K	—	as long as short
Derive VVV-PERP	+0.0100%	1h	31.006	−0.047%	$3K	$3K	5x	as long as short
Phemex VVVUSDT	+0.0100%	4h	31.037	+0.052%	$2.0M	$2.1M	50x	as long as short
Extended VVV-USD	+0.0104%	1h	31.021	−0.001%	$292K	$1.9M	5x	as long as short
Aevo VVV-PERP	+0.0104%	1h	31.025	+0.013%	$6K	—	3x	as long as short
edgeX VVVUSDC	+0.0116%	4h	31.136	+0.370%	$77K	$335K	10x	as long as short
BloFin VVV-USDT	+0.0138%	4h	31.060	+0.126%	$1.3M	$1.7M	25x	as long as short
Kalshi KXVVVPERP	+0.0144%	8h	31.011	−0.032%	$106K	$6.1M	1.7x	as long as short
Phoenix VVV	+0.0153%	1h	31.166	+0.468%	$38K	$264K	5x	as long as short
Coinbase International VVV-PERP-INTX	+0.0168%	1h	31.105	+0.272%	$139K	$1.2M	25x	as long as short
GMX VVV/USD [ETH-USDC]long	L +0.0174% / S +0.0126%	1h	31.021	long leg	$559K	—	100x
Backpack VVV_USDC_PERPshort	+0.0206%	1h	31.034	+0.042%	$113K	$303K	5x