Funding arb · Price arb /

VVV

all VVV markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0177%/8h= −19.3% APRpaid last 24h −0.068%

Price spread now: Kalshi against GMX+0.181%7-day average −0.022% · you sell dearer than you buy

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

Long on GMX Short on Kalshi

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.384%−$38 on $10k

Price spread, last 3 days (all we have)−0.205%−$20 · spread now +0.181%, 7d avg −0.022%

Together, before fees−0.589%−$59 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Kalshi is 0.203% dearer against GMX than usual: you sell high and buy low (spread +0.181% now, against its 7-day average of −0.022%): +$20 on $10k if it goes back. Holding the pair costs −$5 a day in funding at the current rate, which eats that in about 3.8 days. At the pace of the last 3 days (−0.384% in total) that is about 41 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX VVV/USD [ETH-USDC]	31.570	L +0.0177% / S +0.0122%	pay 0.0022% / 1h	38m 47s	$570K	—	100x
Short	Kalshi KXVVVPERP	31.627	0	get 0.0000% / 8h	2h 38m	$118K	$6.4M	1.7x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kalshi against GMX. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 KalshibpOrdersPrice spread, now +0.181%Rate

Funding earned: −$37.09
Price spread: +0.181% → −0.022%: $20.32
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee Kalshi: 5 bp × 2 orders: −$10
Net: −$38.77
Costs to cover: 0.220%
Break-even: never at this rate

Slippage unknown: GMX: no order-book sample; Kalshi: live order book, 5 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 Kalshi live order book, 5 min ago	6.48 bp	11.5 bp −$11	17.2 bp −$172	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
Bybit VVVUSDT	−0.0228%	4h	31.613	+0.138%	$38.7M	$51.4M	20x	as long as short
Polymarket Perps VVV-USD	−0.0128%	1h	31.558	−0.038%	$145K	$1.2M	3x	as long as short
Gate VVV_USDT	−0.0128%	4h	31.586	+0.051%	$10.6M	$7.1M	25x	as long as short
RISEx VVV/USDC	−0.0111%	1h	31.503	−0.213%	$387K	$615K	5x	as long as short
Kalshi KXVVVPERPshort	0.0000%	8h	31.627	+0.181%	$118K	$6.4M	1.7x
Phoenix VVV	0.0000%	1h	31.516	−0.171%	$49K	$289K	5x	as long as short
Deribit VVV_USDC-PERPETUAL	0.0000%	1h	31.602	+0.101%	$88K	$24K	10x	as long as short
gTrade (Gains Network) VVV/USD	L +0.0004% / S −0.0005%	1h	31.585	+0.048%	$20K	—	150x	as long as short
01 Exchange VVVUSD	+0.0024%	1h	31.519	−0.161%	$11K	$3K	3x	as long as short
Injective VVV/USDC PERP	+0.0033%	1h	32.820	+3.960%	$2K	$1K	5.5x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BloFin VVV-USDT	+0.0053%	4h	31.666	+0.304%	$1.3M	$1.8M	25x	as long as short
Lighter VVV	+0.0096%	1h	31.604	+0.107%	$2.1M	$5.6M	5x	as long as short
Lighter RH VVV	+0.0096%	1h	31.579	+0.029%	$466K	$1.5M	5x	as long as short
Paradex VVV-USD-PERP	+0.0100%	8h	31.518	−0.165%	$3K	$81	5x	as long as short
Nado VVV-PERP	+0.0100%	1h	31.530	−0.125%	$124K	$844K	3x	as long as short
Hyperliquid VVV	+0.0100%	1h	31.629	+0.187%	$72.9M	$53.6M	3x	as long as short
Aster VVVUSDT	+0.0100%	4h	31.589	+0.061%	$256K	$1.9M	10x	as long as short
Pacifica VVV	+0.0100%	1h	31.531	−0.123%	$188K	$177K	10x	as long as short
Binance VVVUSDT	+0.0100%	4h	31.601	+0.098%	$33.5M	$152.2M	25x	as long as short
OKX VVV-USDT-SWAP	+0.0100%	4h	31.619	+0.155%	$4.7M	$40.5M	20x	as long as short
MEXC VVV_USDT	+0.0100%	4h	31.631	+0.193%	$6.4M	$6.9M	50x	as long as short
KuCoin VVVUSDTM	+0.0100%	4h	31.545	−0.079%	$1.8M	$2.9M	20x	as long as short
Bitget VVVUSDT	+0.0100%	4h	31.611	+0.130%	$5.7M	$8.8M	20x	as long as short
BingX VVV-USDT	+0.0100%	4h	31.612	+0.133%	—	$5.5M	—	as long as short
Variational Omni VVV	+0.0100%	4h	31.468	−0.324%	$2.1M	$190K	—	as long as short
Derive VVV-PERP	+0.0100%	1h	31.574	+0.013%	$3K	$3K	5x	as long as short
Phemex VVVUSDT	+0.0100%	4h	31.584	+0.045%	$2.0M	$2.1M	50x	as long as short
Extended VVV-USD	+0.0104%	1h	31.627	+0.180%	$299K	$1.9M	5x	as long as short
Aevo VVV-PERP	+0.0104%	1h	31.550	−0.062%	$6K	—	3x	as long as short
edgeX VVVUSDC	+0.0108%	4h	31.594	+0.075%	$78K	$334K	10x	as long as short
Backpack VVV_USDC_PERP	+0.0166%	1h	31.642	+0.228%	$122K	$326K	5x	as long as short
GMX VVV/USD [ETH-USDC]long	L +0.0177% / S +0.0122%	1h	31.570	long leg	$570K	—	100x
Coinbase International VVV-PERP-INTX	+0.0208%	1h	31.366	−0.647%	$235K	$1.2M	25x	as long as short