Funding you earn now, next payment 09:00 UTC−0.0125%/8h= −13.7% APRnext payment −$0.16 per $10,000 · paid last 24h −0.038%
Price spread now: Polymarket Perps against Phoenix+0.069%7-day average −0.011% · you sell dearer than you buy
Net, funding: paid 7d − costs−$68as in the Funding arb table
Net, price: spread back to 7d avg − costs−$47as in the Price arb table
costs, in and out, $10k−$550.545% of the position
Funding, last 7 days−0.132%−$13 on $10k
+Price spread, last 4 days (all we have)−0.043%−$4 · spread now +0.069%, 7d avg −0.011%
=The price spread pays, funding is against you. Polymarket Perps is 0.079% dearer against Phoenix than usual: you sell high and buy low (spread +0.069% now, against its 7-day average of −0.011%): +$8 on $10k if it goes back. Holding the pair costs −$4 a day in funding at the current rate, which eats that in about 2.1 days.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phoenix ARM | 320.22 | 0.0175 | pay 0.0022% / 1h | 21m 01s | $5K | $414K | 10x |
| Short | Polymarket Perps ARM-USD | 320.44 | 0.0050 | get 0.0006% / 1h | 21m 01s | $370K | $1.2M | 10x |
Phoenix ARM
Polymarket Perps ARM-USDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Polymarket Perps against Phoenix. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$26.2
- Price spread: +0.069% → −0.011%
- $7.95
- Slippage, 4 orders
- −$39.51
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee Polymarket Perps: 4 bp × 2 orders
- −$8
- Net
- −$72.76
- Costs to cover
- 0.545%
- Break-even
- never at this rate
Slippage from Phoenix: live order book, 29 min ago; Polymarket Perps: live order book, just now.
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 Phoenix live order book, 29 min ago | 6.56 bp | 18.9 bp −$19 | 40.7 bp −$407 | doesn't fit | doesn't fit |
| Sell Polymarket Perps live order book, just now | 2.50 bp | 8.4 bp −$8 | 20.3 bp −$203 | doesn't fit | doesn't fit |
ARM on 24 exchanges
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 | −0.0026% | 8h | 320.43 | +0.066% | $124K | $54K | 20x | as long as short |
| Aster ARMUSDT | 0.0000% | 8h | 320.13 | −0.030% | $7K | $126K | 20x | as long as short |
| Extended ARM-USD | 0.0000% | 1h | 320.27 | +0.017% | $33K | $320K | 10x | as long as short |
| Binance ARMUSDT | 0.0000% | 8h | 320.39 | +0.052% | $8.2M | $49.7M | 20x | as long as short |
| Bybit ARMUSDT | 0.0000% | 8h | 320.51 | +0.091% | $1.9M | $2.1M | 25x | as long as short |
| OKX ARM-USDT-SWAP | 0.0000% | 8h | 320.34 | +0.037% | $1.6M | $6.1M | 20x | as long as short |
| Gate ARM_USDT | 0.0000% | 8h | 320.51 | +0.091% | $1.4M | $4.0M | 50x | as long as short |
| Bitget ARMUSDT | 0.0000% | 8h | 320.39 | +0.053% | $1.7M | $4.1M | 20x | as long as short |
| Variational Omni ARM | 0.0000% | 8h | 320.67 | +0.140% | $185K | $244K | — | as long as short |
| SunX ARM-USDT | 0.0000% | 8h | 319.88 | −0.106% | $966 | $2.1M | 10x | as long as short |
BloFin ARM-USDT
Aster ARMUSDT
Extended ARM-USD
Binance ARMUSDT
Bybit ARMUSDT
OKX ARM-USDT-SWAP
Gate ARM_USDT
Bitget ARMUSDT
Variational Omni ARM
SunX ARM-USDTShow all 24 exchanges
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Deribit ARM_USDC-PERPETUAL | 0.0000% | 1h | 320.47 | +0.078% | $12K | $56K | 10x | as long as short |
| HTX ARM-USDT | 0.0000% | 8h | 320.76 | +0.169% | $18K | $12K | 20x | as long as short |
| Lighter ARM | +0.0032% | 1h | 320.17 | −0.016% | — | — | 10x | as long as short |
| QFEX ARM-USD | +0.0037% | 1h | 320.52 | +0.094% | $1.1M | $3.3M | 10x | as long as short |
| Vest ARM-USD-PERP | +0.0046% | 1h | 320.62 | +0.125% | — | — | 10x | as long as short |
| tradeXYZ xyz:ARM | +0.0050% | 1h | 320.35 | +0.041% | $8.1M | $8.5M | 10x | as long as short |
| Polymarket Perps ARM-USDshort | +0.0050% | 1h | 320.44 | +0.069% | $370K | $1.2M | 10x | |
| Ondo Perps ARM-USD.P | +0.0050% | 1h | 320.18 | −0.012% | $183K | $426K | 10x | as long as short |
| Coinbase International ARM-PERP-INTX | +0.0120% | 1h | 320.73 | +0.159% | $99K | $272K | 10x | as long as short |
| KuCoin ARMUSDTM | +0.0156% | 8h | 320.48 | +0.081% | $2.3M | $236K | 20x | as long as short |
| Phoenix ARMlong | +0.0175% | 1h | 320.22 | long leg | $5K | $414K | 10x | |
| Injective ARM/USDC PERP | +0.0220% | 1h | 324.20 | +1.243% | $12K | $51K | 12x | as long as short |
| edgeX ARMUSDC | +0.0273% | 4h | 320.67 | +0.141% | $35K | $360K | 10x | as long as short |
| GRVT ARM_USDT_Perp | +0.1031% | 8h | 320.66 | +0.138% | $292 | $247K | 10x | as long as short |
Deribit ARM_USDC-PERPETUAL
HTX ARM-USDT
Lighter ARM
QFEX ARM-USD
Vest ARM-USD-PERP
tradeXYZ xyz:ARM
Ondo Perps ARM-USD.P
Coinbase International ARM-PERP-INTX
KuCoin ARMUSDTM
Injective ARM/USDC PERP
edgeX ARMUSDC
GRVT ARM_USDT_Perp