Funding you earn now, next payment 08:00 UTC+0.0424%/8h= +46.4% APRnext payment +$4.24 per $10,000 · paid last 24h 0.000%
Price spread now: Phemex against Bitget−0.118%7-day average −0.037% · you buy dearer than you sell
Net, funding: paid 7d − costs−$204as in the Funding arb table
Net, price: spread back to 7d avg − costs−$212as in the Price arb table
costs, in and out, $10k−$2042.042% of the position
Funding, last 7 days+0.004%$0 on $10k
+Price spread, last 3 days (all we have)+0.031%+$3 · spread now −0.118%, 7d avg −0.037%
=Funding pays, the price is against you. Phemex is 0.081% cheaper against Bitget than usual: you would sell low and buy high (spread −0.118% now, against its 7-day average of −0.037%). If the spread goes back, that is −$8 on $10k: about 15 hours of funding at the current rate (+$13 a day). At the pace of the last 7 days (+0.004% in total) that is about 5 months.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.004% in total (about 0.2% a year). A funding rate is set anew for every payment; at this rate the next one is about +$4.24 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 | Bitget BMNRUSDT | 27.993 | −0.0424 | get 0.0424% / 8h | 6h 20m | $2.0M | $967K | 20x |
| Short | Phemex BMNRUSDT | 27.960 | 0 | get 0.0000% / 8h | 6h 20m | $1.6M | $1.5M | 10x |
Bitget BMNRUSDT
Phemex BMNRUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phemex against Bitget. 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
- $89.04
- Price spread: −0.118% → −0.037%
- −$8.12
- Slippage, 4 orders
- −$180.2
- Fee Bitget: 6 bp × 2 orders
- −$12
- Fee Phemex: 6 bp × 2 orders
- −$12
- Net
- −$123.28
- Costs to cover
- 2.042%
- Break-even
- 16.7 days
Slippage from Bitget: live order book, 1 min ago; Phemex: live order book, 2 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 Bitget live order book, 1 min ago | 3.93 bp | 24.9 bp −$25 | 28.8 bp −$288 | 270.1 bp −$27.0K | doesn't fit |
| Sell Phemex live order book, 2 min ago | 5.35 bp | 44.7 bp −$45 | doesn't fit | doesn't fit | doesn't fit |
BMNR on 19 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 | |
|---|---|---|---|---|---|---|---|---|
| Bitget BMNRUSDTlong | −0.0424% | 8h | 27.993 | long leg | $2.0M | $967K | 20x | |
| Aster BMNRUSDT | 0.0000% | 8h | 27.960 | −0.118% | $50K | $100K | 20x | as long as short |
| Extended BMNR-USD | 0.0000% | 1h | 27.943 | −0.180% | $54K | $635K | 10x | as long as short |
| Binance BMNRUSDT | 0.0000% | 8h | 27.950 | −0.154% | $22.2M | $53.7M | 25x | as long as short |
| Bybit BMNRUSDT | 0.0000% | 8h | 27.959 | −0.121% | $3.3M | $1.9M | 25x | as long as short |
| OKX BMNR-USDT-SWAP | 0.0000% | 8h | 27.980 | −0.046% | $3.6M | $4.5M | 20x | as long as short |
| Gate BMNR_USDT | 0.0000% | 8h | 27.970 | −0.082% | $4.2M | $9.7M | 50x | as long as short |
| Variational Omni BMNR | 0.0000% | 8h | 27.970 | −0.083% | $312K | $491K | — | as long as short |
| GRVT BMNR_USDT_Perp | 0.0000% | 8h | 28.040 | +0.168% | $5K | $179K | 10x | as long as short |
| SunX BMNR-USDT | 0.0000% | 8h | 27.978 | −0.054% | $1K | $931K | 10x | as long as short |
Aster BMNRUSDT
Extended BMNR-USD
Binance BMNRUSDT
Bybit BMNRUSDT
OKX BMNR-USDT-SWAP
Gate BMNR_USDT
Variational Omni BMNR
GRVT BMNR_USDT_Perp
SunX BMNR-USDTShow all 19 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| HTX BMNR-USDT | 0.0000% | 8h | 28.056 | +0.225% | $6K | $40K | 20x | as long as short |
| Phemex BMNRUSDTshort | 0.0000% | 8h | 27.960 | −0.118% | $1.6M | $1.5M | 10x | |
| QFEX BMNR-USD | +0.0002% | 1h | 27.980 | −0.046% | $1.2M | $1.3M | 10x | as long as short |
| Lighter BMNR | +0.0032% | 1h | 27.961 | −0.114% | $352K | $53K | 10x | as long as short |
| Vest BMNR-USD-PERP | +0.0046% | 1h | 27.980 | −0.046% | — | $36K | 25x | as long as short |
| Ondo Perps BMNR-USD.P | +0.0050% | 1h | 28.000 | +0.025% | $36K | $16K | 5x | as long as short |
| KuCoin BMNRUSDTM | +0.0100% | 8h | 27.950 | −0.154% | $683K | $808K | 20x | as long as short |
| ApeX Omni BMNRUSDT | +0.0100% | 1h | 28.020 | +0.096% | $25K | $39K | 50x | as long as short |
| tradeXYZ xyz:BMNR | +0.0239% | 1h | 27.962 | −0.111% | $943K | $1.5M | 10x | as long as short |
HTX BMNR-USDT
QFEX BMNR-USD
Lighter BMNR
Vest BMNR-USD-PERP
Ondo Perps BMNR-USD.P
KuCoin BMNRUSDTM
ApeX Omni BMNRUSDT
tradeXYZ xyz:BMNR