Funding arb · Price arb /

BMNR

RWAall BMNR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.049%

Price spread now: Phemex against OKX0.000%7-day average −0.048% · you sell dearer than you buy

Net, funding: paid 7d − costs−$154as in the Funding arb table

Net, price: spread back to 7d avg − costs−$118as in the Price arb table

costs, in and out, $10k−$1231.232% of the position

Long on OKX Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days−0.306%−$31 on $10k

Price spread, last 4 days (all we have)−0.183%−$18 · spread now 0.000%, 7d avg −0.048%

Together, before fees−0.488%−$49 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Phemex is 0.048% dearer against OKX than usual: you sell high and buy low, +$5 on $10k if it goes back to its 7-day average of −0.048%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX BMNR-USDT-SWAP	27.550	0	get 0.0000% / 8h	1h 54m	$3.5M	$4.2M	20x
Short	Phemex BMNRUSDT	27.550	0	get 0.0000% / 8h	1h 54m	$1.6M	$1.5M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against OKX. 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 OKXbpFee PhemexbpOrdersPrice spread, now 0.000%Rate

Funding earned: $0
Price spread: 0.000% → −0.048%: $4.79
Slippage, 4 orders: −$101.21
Fee OKX: 5 bp × 2 orders: −$10
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$118.42
Costs to cover: 1.232%
Break-even: never at this rate

Slippage from OKX: live order book, 3 min ago; Phemex: live order book, 4 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 OKX live order book, 3 min ago	3.62 bp	14.6 bp −$15	109.0 bp −$1,090	doesn't fit	doesn't fit
Sell Phemex live order book, 4 min ago	5.43 bp	51.3 bp −$51	doesn't fit	doesn't fit	doesn't fit

BMNR on 20 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 BMNRUSDT	−0.0777%	8h	27.575	+0.091%	$1.8M	$1.3M	20x	as long as short
Vest BMNR-USD-PERP	−0.0004%	1h	27.510	−0.145%	—	$36K	25x	as long as short
Aster BMNRUSDT	0.0000%	8h	27.545	−0.018%	$49K	$101K	20x	as long as short
Extended BMNR-USD	0.0000%	1h	27.527	−0.082%	$57K	$498K	10x	as long as short
Binance BMNRUSDT	0.0000%	8h	27.540	−0.036%	$21.6M	$53.0M	25x	as long as short
Bybit BMNRUSDT	0.0000%	8h	27.546	−0.015%	$3.2M	$2.0M	25x	as long as short
OKX BMNR-USDT-SWAPlong	0.0000%	8h	27.550	long leg	$3.5M	$4.2M	20x
Gate BMNR_USDT	0.0000%	8h	27.550	0.000%	$4.1M	$8.6M	50x	as long as short
Variational Omni BMNR	0.0000%	8h	27.580	+0.110%	$224K	$607K	—	as long as short
GRVT BMNR_USDT_Perp	0.0000%	8h	27.616	+0.241%	$6K	$190K	10x	as long as short

Show all 20 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX BMNR-USDT	0.0000%	8h	27.634	+0.305%	$1K	$864K	10x	as long as short
HTX BMNR-USDT	0.0000%	8h	27.550	0.000%	$6K	$40K	20x	as long as short
Phemex BMNRUSDTshort	0.0000%	8h	27.550	0.000%	$1.6M	$1.5M	10x
BloFin BMNR-USDT	+0.0001%	8h	27.580	+0.109%	$206K	$52K	20x	as long as short
QFEX BMNR-USD	+0.0019%	1h	27.530	−0.073%	$1.2M	$1.1M	10x	as long as short
Lighter BMNR	+0.0032%	1h	27.557	+0.025%	$344K	$52K	10x	as long as short
tradeXYZ xyz:BMNR	+0.0050%	1h	27.532	−0.065%	$905K	$1.4M	10x	as long as short
Ondo Perps BMNR-USD.P	+0.0050%	1h	27.620	+0.254%	$36K	$15K	5x	as long as short
KuCoin BMNRUSDTM	+0.0100%	8h	27.550	0.000%	$674K	$731K	20x	as long as short
ApeX Omni BMNRUSDT	+0.0100%	1h	27.590	+0.145%	$24K	$29K	50x	as long as short