Funding arb · Price arb /

VVV

all VVV markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0330%/8h= −36.1% APRpaid last 24h −0.060%

Price spread now: MEXC against GMX+0.111%7-day average +0.064% · you sell dearer than you buy

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

Long on GMX Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.336%−$34 on $10k

Price spread, last 4 days (all we have)+0.029%+$3 · spread now +0.111%, 7d avg +0.064%

Together, before fees−0.307%−$31 on $10k · with fees, hour by hour

The price spread pays, funding is against you. MEXC is 0.047% dearer against GMX than usual: you sell high and buy low (spread +0.111% now, against its 7-day average of +0.064%): +$5 on $10k if it goes back. Holding the pair costs −$10 a day in funding at the current rate, which eats that in about 11 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX VVV/USD [ETH-USDC]	31.477	L +0.0430% / S −0.0202%	pay 0.0054% / 1h	27m 53s	$503K	—	100x
Short	MEXC VVV_USDT	31.512	0.0100	get 0.0050% / 4h	1h 27m	$6.8M	$5.7M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now +0.111%Rate

Funding earned: −$69.3
Price spread: +0.111% → +0.064%: $4.74
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee MEXC: 0 bp × 2 orders: $0
Net: −$76.57
Costs to cover: 0.120%
Break-even: never at this rate

Slippage unknown: GMX: no order-book sample; MEXC: 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 MEXC live order book, 5 min ago	0.16 bp	15.0 bp −$15	58.8 bp −$588	239.8 bp −$24.0K	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
Coinbase International VVV-PERP-INTX	−0.0088%	1h	31.490	+0.040%	$187K	$1.3M	25x	as long as short
RISEx VVV/USDC	−0.0085%	1h	31.448	−0.091%	$386K	$642K	5x	as long as short
01 Exchange VVVUSD	0.0000%	1h	31.465	−0.038%	$11K	$2K	3x	as long as short
Kalshi KXVVVPERP	0.0000%	8h	31.476	−0.003%	$88K	$5.6M	1.7x	as long as short
Deribit VVV_USDC-PERPETUAL	0.0000%	1h	31.472	−0.017%	$88K	$22K	10x	as long as short
gTrade (Gains Network) VVV/USD	L +0.0004% / S −0.0010%	1h	31.470	−0.022%	$14K	—	150x	as long as short
Injective VVV/USDC PERP	+0.0033%	1h	32.820	+4.266%	$2K	$1K	5.5x	as long as short
BloFin VVV-USDT	+0.0053%	4h	31.487	+0.032%	$1.4M	$1.5M	25x	as long as short
Lighter VVV	+0.0096%	1h	31.468	−0.030%	$2.0M	$4.5M	5x	as long as short
Lighter RH VVV	+0.0096%	1h	31.489	+0.038%	$463K	$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
Paradex VVV-USD-PERP	+0.0100%	8h	31.465	−0.039%	$3K	$73	5x	as long as short
Nado VVV-PERP	+0.0100%	1h	31.461	−0.051%	$163K	$898K	3x	as long as short
Hyperliquid VVV	+0.0100%	1h	31.499	+0.070%	$70.8M	$47.8M	3x	as long as short
Aster VVVUSDT	+0.0100%	4h	31.492	+0.047%	$250K	$1.0M	10x	as long as short
Pacifica VVV	+0.0100%	1h	31.459	−0.059%	$186K	$127K	10x	as long as short
Binance VVVUSDT	+0.0100%	4h	31.516	+0.123%	$34.0M	$121.0M	25x	as long as short
Bybit VVVUSDT	+0.0100%	4h	31.494	+0.054%	$38.7M	$41.2M	20x	as long as short
OKX VVV-USDT-SWAP	+0.0100%	4h	31.514	+0.117%	$4.9M	$30.8M	20x	as long as short
Gate VVV_USDT	+0.0100%	4h	31.492	+0.047%	$11.3M	$5.4M	25x	as long as short
MEXC VVV_USDTshort	+0.0100%	4h	31.512	+0.111%	$6.8M	$5.7M	50x
KuCoin VVVUSDTM	+0.0100%	4h	31.490	+0.041%	$1.8M	$2.8M	20x	as long as short
Bitget VVVUSDT	+0.0100%	4h	31.506	+0.092%	$5.8M	$7.0M	20x	as long as short
BingX VVV-USDT	+0.0100%	4h	31.504	+0.086%	—	$4.8M	—	as long as short
Variational Omni VVV	+0.0100%	4h	31.503	+0.082%	$2.0M	$352K	—	as long as short
Polymarket Perps VVV-USD	+0.0100%	1h	31.471	−0.019%	$122K	$1.4M	3x	as long as short
Derive VVV-PERP	+0.0100%	1h	31.358	−0.379%	$3K	$3K	5x	as long as short
Phemex VVVUSDT	+0.0100%	4h	31.479	+0.006%	$2.0M	$2.1M	50x	as long as short
edgeX VVVUSDC	+0.0101%	4h	31.511	+0.106%	$78K	$333K	10x	as long as short
Extended VVV-USD	+0.0104%	1h	31.493	+0.050%	$301K	$1.5M	5x	as long as short
Aevo VVV-PERP	+0.0104%	1h	31.482	+0.016%	$6K	—	3x	as long as short
Phoenix VVV	+0.0307%	1h	31.520	+0.136%	$33K	$232K	5x	as long as short
GMX VVV/USD [ETH-USDC]long	L +0.0430% / S −0.0202%	1h	31.477	long leg	$503K	—	100x
Backpack VVV_USDC_PERP	+0.0465%	1h	31.517	+0.128%	$153K	$268K	5x	as long as short