Funding arb · Price arb /

ARM

RWAall ARM markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0271%/8h= +29.7% APRpaid last 24h −0.004%

Price spread now: Phoenix against Bybit+0.009%7-day average −0.022% · you sell dearer than you buy

Net, funding: paid 7d − costs−$48as in the Funding arb table

Net, price: spread back to 7d avg − costs−$67as in the Price arb table

costs, in and out, $10k−$700.703% of the position

Long on Bybit Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 7 days+0.227%+$23 on $10k

Price spread, last 3 days (all we have)+0.005%$0 · spread now +0.009%, 7d avg −0.022%

Together, before fees+0.232%+$23 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$8 a day on $10k at the current rate, and Phoenix is 0.031% dearer against Bybit than usual: you sell high and buy low: +$3 more if the spread goes back to its 7-day average of −0.022%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit ARMUSDT	325.26	0	get 0.0000% / 8h	49m 28s	$2.0M	$2.5M	25x
Short	Phoenix ARM	325.29	0.0271	get 0.0034% / 1h	49m 28s	$5K	$460K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix against Bybit. 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 BybitbpFee PhoenixbpOrdersPrice spread, now +0.009%Rate

Funding earned: $56.89
Price spread: +0.009% → −0.022%: $3.08
Slippage, 4 orders: −$52.35
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: −$10.38
Costs to cover: 0.703%
Break-even: 8.3 days

Slippage from Bybit: live order book, 3 min ago; Phoenix: live order book, 28 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 Bybit live order book, 3 min ago	0.31 bp	21.8 bp −$22	81.6 bp −$816	doesn't fit	doesn't fit
Sell Phoenix live order book, 28 min ago	6.47 bp	18.8 bp −$19	40.8 bp −$408	doesn't fit	doesn't fit

ARM on 24 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
BloFin ARM-USDT	−0.0029%	8h	325.23	−0.009%	$123K	$44K	20x	as long as short
Aster ARMUSDT	0.0000%	8h	325.01	−0.078%	$7K	$126K	20x	as long as short
Bybit ARMUSDTlong	0.0000%	8h	325.26	long leg	$2.0M	$2.5M	25x
OKX ARM-USDT-SWAP	0.0000%	8h	325.40	+0.043%	$1.7M	$6.8M	20x	as long as short
Bitget ARMUSDT	0.0000%	8h	325.28	+0.006%	$1.8M	$4.2M	20x	as long as short
SunX ARM-USDT	0.0000%	8h	324.81	−0.138%	$1K	$3.2M	10x	as long as short
HTX ARM-USDT	0.0000%	8h	325.40	+0.043%	$18K	$17K	20x	as long as short
Variational Omni ARM	+0.0016%	8h	325.18	−0.023%	$213K	$523K	—	as long as short
Coinbase International ARM-PERP-INTX	+0.0016%	1h	325.14	−0.037%	$88K	$290K	10x	as long as short
Lighter ARM	+0.0032%	1h	325.08	−0.055%	—	—	10x	as long as short

Show all 24 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
QFEX ARM-USD	+0.0033%	1h	325.20	−0.018%	$1.1M	$4.7M	10x	as long as short
Vest ARM-USD-PERP	+0.0046%	1h	325.25	−0.003%	—	—	10x	as long as short
tradeXYZ xyz:ARM	+0.0050%	1h	325.26	0.000%	$8.0M	$9.7M	10x	as long as short
Polymarket Perps ARM-USD	+0.0050%	1h	325.11	−0.046%	$464K	$1.7M	10x	as long as short
Ondo Perps ARM-USD.P	+0.0050%	1h	325.12	−0.043%	$208K	$557K	10x	as long as short
Gate ARM_USDT	+0.0053%	8h	325.43	+0.052%	$1.5M	$4.1M	50x	as long as short
Extended ARM-USD	+0.0128%	1h	325.22	−0.012%	$39K	$188K	10x	as long as short
Binance ARMUSDT	+0.0132%	8h	325.25	−0.002%	$8.6M	$51.0M	20x	as long as short
GRVT ARM_USDT_Perp	+0.0219%	8h	325.30	+0.012%	$420	$207K	10x	as long as short
Injective ARM/USDC PERP	+0.0220%	1h	328.17	+0.895%	$5K	$52K	12x	as long as short
Phoenix ARMshort	+0.0271%	1h	325.29	+0.009%	$5K	$460K	10x
Deribit ARM_USDC-PERPETUAL	+0.0334%	1h	325.43	+0.052%	$12K	$145K	10x	as long as short
KuCoin ARMUSDTM	+0.0478%	8h	325.45	+0.058%	$2.3M	$118K	20x	as long as short
edgeX ARMUSDC	+0.0739%	4h	325.17	−0.029%	$35K	$350K	10x	as long as short