Funding arb · Price arb /

BMNR

RWAall BMNR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0050%/8h= −5.5% APRpaid last 24h −0.009%

Price spread now: Variational Omni against Ondo Perps+0.164%7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Ondo Perps Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropOndo Perps: Active · Variational Omni: Active · farm boardneeds both histories

The price spread pays, funding is against you. Variational Omni is 0.164% dearer against Ondo Perps than usual: you sell high and buy low (spread +0.164% now, against zero (this spread has no 7-day history yet)): +$16 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 11 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Ondo Perps BMNR-USD.P	28.260	0.0050	pay 0.0006% / 1h	16m 22s	$37K	$27K	5x
Short	Variational Omni BMNR	28.306	0	get 0.0000% / 8h	1h 16m	$325K	$479K	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against Ondo Perps. 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 Ondo PerpsbpFee Variational OmnibpOrdersPrice spread, now +0.164%Rate

Funding earned: −$10.58
Price spread: +0.164% → 0.000%: $16.44
Slippage, 4 orders: no order book: not counted
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Fee Variational Omni: 0 bp × 2 orders: $0
Net: $0.86
Costs to cover: 0.050%
Break-even: from the start

Slippage unknown: Ondo Perps: no order-book sample; Variational Omni: RFQ quote, 3 min ago. Net counts fees only.

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 Ondo Perps no order-book sample	—	—	—	—	—
Sell Variational Omni RFQ quote, 3 min ago	4.67 bp	doesn't fit	29.9 bp −$299	doesn't fit	doesn't fit

Ondo Perps: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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
QFEX BMNR-USD	−0.0003%	1h	28.300	+0.142%	$1.2M	$1.8M	10x	as long as short
Aster BMNRUSDT	0.0000%	8h	28.339	+0.278%	$53K	$98K	20x	as long as short
Extended BMNR-USD	0.0000%	1h	28.294	+0.119%	$40K	$462K	10x	as long as short
Binance BMNRUSDT	0.0000%	8h	28.299	+0.138%	$22.4M	$55.2M	25x	as long as short
Bybit BMNRUSDT	0.0000%	8h	28.310	+0.177%	$3.4M	$2.0M	25x	as long as short
OKX BMNR-USDT-SWAP	0.0000%	8h	28.320	+0.212%	$3.6M	$6.0M	20x	as long as short
Gate BMNR_USDT	0.0000%	8h	28.310	+0.177%	$3.8M	$10.3M	50x	as long as short
Bitget BMNRUSDT	0.0000%	8h	28.321	+0.216%	$2.0M	$1.1M	20x	as long as short
Variational Omni BMNRshort	0.0000%	8h	28.306	+0.164%	$325K	$479K	—
GRVT BMNR_USDT_Perp	0.0000%	8h	28.300	+0.141%	$5K	$192K	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	28.306	+0.163%	$1K	$1.0M	10x	as long as short
HTX BMNR-USDT	0.0000%	8h	28.327	+0.237%	$5K	$39K	20x	as long as short
Phemex BMNRUSDT	0.0000%	8h	28.290	+0.106%	$1.6M	$1.5M	10x	as long as short
BloFin BMNR-USDT	+0.0001%	8h	28.320	+0.212%	$211K	$59K	20x	as long as short
Lighter BMNR	+0.0032%	1h	28.311	+0.180%	$336K	$23K	10x	as long as short
Vest BMNR-USD-PERP	+0.0046%	1h	28.350	+0.318%	—	$36K	25x	as long as short
tradeXYZ xyz:BMNR	+0.0050%	1h	28.308	+0.170%	$949K	$1.5M	10x	as long as short
Ondo Perps BMNR-USD.Plong	+0.0050%	1h	28.260	long leg	$37K	$27K	5x
KuCoin BMNRUSDTM	+0.0100%	8h	28.310	+0.177%	$701K	$773K	20x	as long as short
ApeX Omni BMNRUSDT	+0.0100%	1h	28.320	+0.212%	$25K	$107K	50x	as long as short