ARB

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0093%/8h= −10.2% APRnext payment −$0.12 per $10,000 · paid last 24h −0.177%

Price spread now: Polymarket Perps against Backpack−0.182%7-day average −0.802% · you buy dearer than you sell

Net, funding: paid 7d − costs−$103as in the Funding arb table

Net, price: spread back to 7d avg − costs+$28as in the Price arb table

costs, in and out, $10k−$340.338% of the position

Long on Backpack Short on Polymarket Perps

What this pair did over the last

the charts below follow

Funding, last 7 days−0.688%−$69 on $10k

Price spread, last 7 days−4.829%−$483 · spread now −0.182%, 7d avg −0.802%

Together, before fees−5.517%−$552 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Polymarket Perps is 0.620% dearer against Backpack than usual: you sell high and buy low (spread −0.182% now, against its 7-day average of −0.802%): +$62 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 22 days. At the pace of the last 7 days (−0.688% in total) that is about 6.3 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack ARB_USDC_PERP	0.2196	0.0193	pay 0.0024% / 1h	40m 13s	$980K	$2.8M	20x
Short	Polymarket Perps ARB-USD	0.2192	0.0100	get 0.0013% / 1h	40m 13s	$74K	$2.1M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket Perps against Backpack. 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 BackpackbpFee Polymarket PerpsbpOrdersPrice spread, now −0.182%Rate

Funding earned: −$19.52
Price spread: −0.182% → −0.802%: $61.97
Slippage, 4 orders: −$15.78
Fee Backpack: 5 bp × 2 orders: −$10
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: $8.68
Costs to cover: 0.338%
Break-even: from the start

Slippage from Backpack: live order book, 4 min ago; Polymarket Perps: live order book, 23 min ago.

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 Backpack live order book, 4 min ago	1.59 bp	12.3 bp −$12	doesn't fit	doesn't fit	doesn't fit
Sell Polymarket Perps live order book, 23 min ago	2.52 bp	6.7 bp −$7	9.4 bp −$94	doesn't fit	doesn't fit

ARB on 36 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
Injective ARB/USDC PERP	−0.1605%	1h	0.2187	−0.410%	$39K	$372K	12x	as long as short
Gate ARB_USDT	−0.0234%	8h	0.2193	−0.123%	$5.4M	$18.1M	60x	as long as short
SoDEX ARB-USD	−0.0206%	1h	0.2192	−0.168%	$9K	$2.3M	5x	as long as short
Kraken Futures PF_ARBUSD	−0.0168%	1h	0.2194	−0.104%	$1.1M	$4.2M	50x	as long as short
Bybit ARBUSDT	−0.0107%	8h	0.2193	−0.155%	$53.3M	$125.9M	50x	as long as short
OKX ARB-USDT-SWAP	−0.0078%	8h	0.2192	−0.164%	$22.2M	$145.9M	50x	as long as short
MEXC ARB_USDT	−0.0077%	8h	0.2192	−0.164%	$43.0M	$62.8M	200x	as long as short
01 Exchange ARBUSD	−0.0048%	1h	0.2191	−0.246%	$7K	$236	10x	as long as short
Orderly PERP_ARB_USDC	−0.0041%	8h	0.2191	−0.228%	$16K	$414K	10x	as long as short
dYdX ARB-USD	0.0000%	1h	0.2193	−0.125%	$65K	$5K	10x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Deribit ARB_USDC-PERPETUAL	0.0000%	1h	0.2193	−0.159%	$28K	$38K	25x	as long as short
gTrade (Gains Network) ARB/USD	L +0.0005% / S −0.0006%	1h	0.2193	−0.159%	$72K	—	150x	as long as short
Binance ARBUSDT	+0.0013%	8h	0.2193	−0.146%	$63.3M	$299.3M	75x	as long as short
Extended ARB-USD	+0.0016%	1h	0.2191	−0.234%	$361K	$3.1M	25x	as long as short
Variational Omni ARB	+0.0026%	8h	0.2191	−0.237%	$1.8M	$3.0M	—	as long as short
BloFin ARB-USDT	+0.0050%	8h	0.2191	−0.237%	$3.0M	$2.3M	75x	as long as short
Bitget ARBUSDT	+0.0072%	8h	0.2193	−0.137%	$21.0M	$34.7M	50x	as long as short
BingX ARB-USDT	+0.0076%	8h	0.2193	−0.146%	—	$32.8M	—	as long as short
Aevo ARB-PERP	+0.0088%	1h	0.2192	−0.182%	$139K	$7K	3x	as long as short
Lighter ARB	+0.0096%	1h	0.2193	−0.114%	$1.3M	$5.5M	15x	as long as short
Hyperliquid ARB	+0.0100%	1h	0.2195	−0.036%	$37.2M	$50.3M	10x	as long as short
Aster ARBUSDT	+0.0100%	8h	0.2193	−0.154%	$631K	$1.7M	20x	as long as short
Pacifica ARB	+0.0100%	1h	0.2193	−0.135%	$43K	$146K	10x	as long as short
KuCoin ARBUSDTM	+0.0100%	8h	0.2193	−0.118%	$19.5M	$13.8M	75x	as long as short
edgeX ARBUSDC	+0.0100%	4h	0.2198	+0.107%	$40K	$468K	20x	as long as short
GRVT ARB_USDT_Perp	+0.0100%	8h	0.2199	+0.137%	$474K	$3.6M	10x	as long as short
ApeX Omni ARBUSDT	+0.0100%	1h	0.2199	+0.137%	$119K	$267K	50x	as long as short
Polymarket Perps ARB-USDshort	+0.0100%	1h	0.2192	−0.182%	$74K	$2.1M	10x
SunX ARB-USDT	+0.0100%	8h	0.2192	−0.182%	$2K	$1.1M	30x	as long as short
HTX ARB-USDT	+0.0100%	8h	0.2193	−0.123%	$294K	$835K	50x	as long as short
Phemex ARBUSDT	+0.0100%	8h	0.2194	−0.091%	$4.8M	$12.8M	50x	as long as short
RISEx ARB/USDC	+0.0123%	1h	0.2193	−0.115%	$527K	$2.7M	10x	as long as short
Backpack ARB_USDC_PERPlong	+0.0193%	1h	0.2196	long leg	$980K	$2.8M	20x
GMX ARB/USD [ARB-USDC]	L +0.0276% / S −0.0159%	1h	0.2196	+0.021%	$830K	—	150x	as long as short
Reya ARBRUSDPERP	+0.0288%	1h	0.2189	−0.303%	$2K	$695	20x	as long as short
Coinbase International ARB-PERP-INTX	+0.0336%	1h	0.2206	+0.451%	$528K	$1.5M	50x	as long as short