Funding arb · Price arb /

BMNR

RWAall BMNR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 16:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Bybit against Phemex−0.251%7-day average +0.002% · you buy dearer than you sell

Net, funding: paid 7d − costs−$162as in the Funding arb table

Net, price: spread back to 7d avg − costs−$201as in the Price arb table

costs, in and out, $10k−$1761.756% of the position

Long on Phemex Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days+0.135%+$14 on $10k

Price spread, last 4 days (all we have)+0.789%+$79 · spread now −0.251%, 7d avg +0.002%

Together, before fees+0.924%+$92 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: Bybit is 0.253% cheaper against Phemex than usual: you would sell low and buy high, −$25 on $10k if it goes back to its 7-day average of +0.002%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex BMNRUSDT	27.890	0	get 0.0000% / 8h	6h 55m	$1.6M	$1.4M	10x
Short	Bybit BMNRUSDT	27.820	0	get 0.0000% / 8h	6h 55m	$3.2M	$1.8M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Phemex. 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 PhemexbpFee BybitbpOrdersPrice spread, now −0.251%Rate

Funding earned: $0
Price spread: −0.251% → +0.002%: −$25.3
Slippage, 4 orders: −$152.63
Fee Phemex: 6 bp × 2 orders: −$12
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$200.93
Costs to cover: 1.756%
Break-even: never at this rate

Slippage from Phemex: live order book, 2 min ago; Bybit: 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 Phemex live order book, 2 min ago	3.59 bp	42.8 bp −$43	doesn't fit	doesn't fit	doesn't fit
Sell Bybit live order book, 2 min ago	4.29 bp	36.7 bp −$37	134.7 bp −$1,347	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	−0.0065%	8h	27.830	−0.215%	$1.9M	$1.3M	20x	as long as short
Aster BMNRUSDT	0.0000%	8h	27.856	−0.123%	$47K	$101K	20x	as long as short
Extended BMNR-USD	0.0000%	1h	27.873	−0.060%	$58K	$359K	10x	as long as short
Binance BMNRUSDT	0.0000%	8h	27.831	−0.212%	$21.6M	$47.9M	25x	as long as short
Bybit BMNRUSDTshort	0.0000%	8h	27.820	−0.251%	$3.2M	$1.8M	25x
OKX BMNR-USDT-SWAP	0.0000%	8h	27.830	−0.215%	$3.6M	$3.2M	20x	as long as short
Gate BMNR_USDT	0.0000%	8h	27.880	−0.036%	$4.1M	$7.5M	50x	as long as short
Variational Omni BMNR	0.0000%	8h	27.890	−0.002%	$216K	$551K	—	as long as short
SunX BMNR-USDT	0.0000%	8h	27.896	+0.022%	$895	$709K	10x	as long as short
HTX BMNR-USDT	0.0000%	8h	27.953	+0.226%	$6K	$40K	20x	as long as short

Show all 20 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phemex BMNRUSDTlong	0.0000%	8h	27.890	long leg	$1.6M	$1.4M	10x
QFEX BMNR-USD	+0.0005%	1h	27.910	+0.072%	$1.2M	$987K	10x	as long as short
BloFin BMNR-USDT	+0.0006%	8h	27.910	+0.072%	$213K	$68K	20x	as long as short
Lighter BMNR	+0.0032%	1h	27.838	−0.186%	$350K	$58K	10x	as long as short
Vest BMNR-USD-PERP	+0.0046%	1h	27.910	+0.072%	—	$36K	25x	as long as short
Ondo Perps BMNR-USD.P	+0.0050%	1h	27.850	−0.143%	$36K	$10K	5x	as long as short
KuCoin BMNRUSDTM	+0.0100%	8h	27.820	−0.251%	$677K	$728K	20x	as long as short
ApeX Omni BMNRUSDT	+0.0100%	1h	27.970	+0.287%	$25K	$23K	50x	as long as short
GRVT BMNR_USDT_Perp	+0.0171%	8h	28.030	+0.503%	$6K	$173K	10x	as long as short
tradeXYZ xyz:BMNR	+0.0382%	1h	27.843	−0.169%	$1.0M	$1.5M	10x	as long as short