Funding you earn now, next payment 23:00 UTC+0.0221%/8h= +24.2% APRnext payment +$0.28 per $10,000 · paid last 24h +0.019%
Price spread now: Phoenix against Polymarket Perps+0.028%59s7-day average +0.007% · you sell dearer than you buy
Net, funding: paid 7d − costs−$38as in the Funding arb table
Net, price: spread back to 7d avg − costs—prices read too far apart to compare
costs, in and out, $10k−$510.509% of the position
Funding, last 7 days+0.133%+$13 on $10k
+Price spread, last 3 days (all we have)−0.028%−$3 · spread now +0.028%, 7d avg +0.007%
=Both sides work for this trade now. Funding pays +$7 a day on $10k at the current rate, and Phoenix is 0.021% dearer against Polymarket Perps than usual: you sell high and buy low: +$2 more if the spread goes back to its 7-day average of +0.007%. The two prices were read 59 seconds apart, so part of this spread may be the market moving, not a spread.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.133% in total (about 6.9% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.28 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Polymarket Perps ARM-USD | 325.20 | 0.0050 | pay 0.0006% / 1h | 48m 10s | $464K | $1.7M | 10x |
| Short | Phoenix ARM | 325.29 | 0.0271 | get 0.0034% / 1h | 48m 10s | $5K | $460K | 10x |
Polymarket Perps ARM-USD
Phoenix ARMFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phoenix against Polymarket Perps. 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
- $46.39
- Price spread: +0.028% → +0.007%
- $2.07
- Slippage, 4 orders
- −$35.89
- Fee Polymarket Perps: 4 bp × 2 orders
- −$8
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- −$2.43
- Costs to cover
- 0.509%
- Break-even
- 7.4 days
Slippage from Polymarket Perps: live order book, 5 min ago; Phoenix: live order book, 29 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 Polymarket Perps live order book, 5 min ago | 2.46 bp | 6.5 bp −$6 | 8.6 bp −$86 | 14.6 bp −$1,460 | doesn't fit |
| Sell Phoenix live order book, 29 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 | −0.0002% | 8h | 325.29 | +0.028% | $123K | $44K | 20x | as long as short |
| Aster ARMUSDT | 0.0000% | 8h | 325.05 | −0.047% | $7K | $126K | 20x | as long as short |
| Bybit ARMUSDT | 0.0000% | 8h | 325.33 | +0.040% | $2.0M | $2.5M | 25x | as long as short |
| OKX ARM-USDT-SWAP | 0.0000% | 8h | 325.37 | +0.052% | $1.7M | $6.8M | 20x | as long as short |
| Bitget ARMUSDT | 0.0000% | 8h | 325.28 | +0.025% | $1.8M | $4.2M | 20x | as long as short |
| SunX ARM-USDT | 0.0000% | 8h | 325.12 | −0.025% | $1K | $3.2M | 10x | as long as short |
| Deribit ARM_USDC-PERPETUAL | 0.0000% | 1h | 325.28 | +0.025% | $12K | $145K | 10x | as long as short |
| HTX ARM-USDT | 0.0000% | 8h | 325.40 | +0.062% | $18K | $17K | 20x | as long as short |
| Variational Omni ARM | +0.0016% | 8h | 325.18 | −0.005% | $213K | $523K | — | as long as short |
| Coinbase International ARM-PERP-INTX | +0.0016% | 1h | 325.14 | −0.018% | $88K | $289K | 10x | as long as short |
BloFin ARM-USDT
Aster ARMUSDT
Bybit ARMUSDT
OKX ARM-USDT-SWAP
Bitget ARMUSDT
SunX ARM-USDT
Deribit ARM_USDC-PERPETUAL
HTX ARM-USDT
Variational Omni ARM
Coinbase International ARM-PERP-INTXShow all 24 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Lighter ARM | +0.0032% | 1h | 325.19 | −0.003% | — | — | 10x | as long as short |
| QFEX ARM-USD | +0.0033% | 1h | 325.34 | +0.043% | $1.1M | $4.7M | 10x | as long as short |
| Vest ARM-USD-PERP | +0.0046% | 1h | 325.39 | +0.058% | — | — | 10x | as long as short |
| tradeXYZ xyz:ARM | +0.0050% | 1h | 325.35 | +0.046% | $8.0M | $9.7M | 10x | as long as short |
| Polymarket Perps ARM-USDlong | +0.0050% | 1h | 325.20 | long leg | $464K | $1.7M | 10x | |
| Ondo Perps ARM-USD.P | +0.0050% | 1h | 325.12 | −0.025% | $208K | $557K | 10x | as long as short |
| Gate ARM_USDT | +0.0053% | 8h | 325.52 | +0.098% | $1.5M | $4.1M | 50x | as long as short |
| Binance ARMUSDT | +0.0133% | 8h | 325.36 | +0.050% | $8.6M | $51.0M | 20x | as long as short |
| Extended ARM-USD | +0.0136% | 1h | 325.27 | +0.022% | $39K | $188K | 10x | as long as short |
| GRVT ARM_USDT_Perp | +0.0219% | 8h | 325.30 | +0.030% | $420 | $207K | 10x | as long as short |
| Injective ARM/USDC PERP | +0.0220% | 1h | 328.17 | +0.913% | $5K | $52K | 12x | as long as short |
| Phoenix ARMshort | +0.0271% | 1h | 325.29 | +0.028% | $5K | $460K | 10x | |
| KuCoin ARMUSDTM | +0.0481% | 8h | 325.45 | +0.077% | $2.3M | $118K | 20x | as long as short |
| edgeX ARMUSDC | +0.0739% | 4h | 325.17 | −0.010% | $35K | $350K | 10x | as long as short |
Lighter ARM
QFEX ARM-USD
Vest ARM-USD-PERP
tradeXYZ xyz:ARM
Ondo Perps ARM-USD.P
Gate ARM_USDT
Binance ARMUSDT
Extended ARM-USD
GRVT ARM_USDT_Perp
Injective ARM/USDC PERP
KuCoin ARMUSDTM
edgeX ARMUSDC