Funding arb · Price arb /

VVV

all VVV markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0335%/8h= −36.7% APRpaid last 24h −0.082%

Price spread now: OKX against GMX−0.075%52s7-day average +0.023% · you buy dearer than you sell

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

Long on GMX Short on OKX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.389%−$39 on $10k

Price spread, last 4 days (all we have)+0.239%+$24 · spread now −0.075%, 7d avg +0.023%

Together, before fees−0.150%−$15 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 OKX is 0.097% cheaper against GMX than usual: you would sell low and buy high (−$10 if the spread goes back to its 7-day average of +0.023%). Swap the legs. The two prices were read 52 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX VVV/USD [ETH-USDC]	31.593	L +0.0435% / S −0.0206%	pay 0.0054% / 1h	10m 29s	$508K	—	100x
Short	OKX VVV-USDT-SWAP	31.569	0.0100	get 0.0050% / 4h	1h 10m	$4.9M	$30.0M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now −0.075%Rate

Funding earned: −$70.31
Price spread: −0.075% → +0.023%: −$9.74
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee OKX: 5 bp × 2 orders: −$10
Net: −$102.05
Costs to cover: 0.220%
Break-even: never at this rate

Slippage unknown: GMX: no order-book sample; OKX: live order book, 3 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 OKX live order book, 3 min ago	1.58 bp	12.6 bp −$13	64.9 bp −$649	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 32 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
Deribit VVV_USDC-PERPETUAL	−0.0152%	1h	31.576	−0.054%	$88K	$22K	10x	as long as short
Coinbase International VVV-PERP-INTX	−0.0088%	1h	31.568	−0.077%	$188K	$1.3M	25x	as long as short
RISEx VVV/USDC	−0.0085%	1h	31.560	−0.104%	$387K	$647K	5x	as long as short
01 Exchange VVVUSD	−0.0016%	1h	31.572	−0.065%	$11K	$2K	3x	as long as short
Kalshi KXVVVPERP	0.0000%	8h	31.623	+0.096%	$92K	$5.4M	1.7x	as long as short
gTrade (Gains Network) VVV/USD	L +0.0004% / S −0.0004%	1h	31.663	+0.223%	$19K	—	150x	as long as short
Injective VVV/USDC PERP	+0.0033%	1h	32.820	+3.885%	$2K	$1K	5.5x	as long as short
BloFin VVV-USDT	+0.0049%	4h	31.592	−0.002%	$1.4M	$1.5M	25x	as long as short
Lighter VVV	+0.0096%	1h	31.588	−0.015%	$2.0M	$4.5M	5x	as long as short
Lighter RH VVV	+0.0096%	1h	31.591	−0.005%	$465K	$1.6M	5x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Paradex VVV-USD-PERP	+0.0100%	8h	31.572	−0.065%	$3K	$73	5x	as long as short
Nado VVV-PERP	+0.0100%	1h	31.588	−0.013%	$141K	$923K	3x	as long as short
Hyperliquid VVV	+0.0100%	1h	31.610	+0.055%	$70.9M	$47.0M	3x	as long as short
Aster VVVUSDT	+0.0100%	4h	31.613	+0.063%	$251K	$948K	10x	as long as short
Pacifica VVV	+0.0100%	1h	31.600	+0.023%	$186K	$126K	10x	as long as short
Binance VVVUSDT	+0.0100%	4h	31.603	+0.034%	$34.0M	$118.3M	25x	as long as short
Bybit VVVUSDT	+0.0100%	4h	31.571	−0.068%	$38.6M	$40.9M	20x	as long as short
OKX VVV-USDT-SWAPshort	+0.0100%	4h	31.569	−0.075%	$4.9M	$30.0M	20x
Gate VVV_USDT	+0.0100%	4h	31.567	−0.081%	$11.4M	$5.5M	25x	as long as short
MEXC VVV_USDT	+0.0100%	4h	31.596	+0.011%	$6.9M	$5.7M	50x	as long as short
KuCoin VVVUSDTM	+0.0100%	4h	31.598	+0.017%	$1.7M	$2.8M	20x	as long as short
Bitget VVVUSDT	+0.0100%	4h	31.572	−0.065%	$5.8M	$6.9M	20x	as long as short
BingX VVV-USDT	+0.0100%	4h	31.585	−0.024%	—	$4.8M	—	as long as short
Variational Omni VVV	+0.0100%	4h	31.568	−0.077%	$2.0M	$354K	—	as long as short
Polymarket Perps VVV-USD	+0.0100%	1h	31.574	−0.059%	$122K	$1.4M	3x	as long as short
Phemex VVVUSDT	+0.0100%	4h	31.599	+0.020%	$2.0M	$2.1M	50x	as long as short
Extended VVV-USD	+0.0104%	1h	31.575	−0.054%	$303K	$1.1M	5x	as long as short
Aevo VVV-PERP	+0.0104%	1h	31.598	+0.018%	$6K	—	3x	as long as short
edgeX VVVUSDC	+0.0108%	4h	31.624	+0.099%	$79K	$330K	10x	as long as short
Phoenix VVV	+0.0307%	1h	31.623	+0.096%	$33K	$232K	5x	as long as short
Backpack VVV_USDC_PERP	+0.0422%	1h	31.619	+0.082%	$155K	$269K	5x	as long as short
GMX VVV/USD [ETH-USDC]long	L +0.0435% / S −0.0206%	1h	31.593	long leg	$508K	—	100x