Funding arb · Price arb /

BMNR

RWAall BMNR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0050%/8h= +5.5% APRpaid last 24h +0.015%

Price spread now: Ondo Perps against Phemex−0.145%7-day average — · you buy dearer than you sell

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

Long on Phemex Short on Ondo Perps

What this pair did over the last

the charts below follow

Funding, last 6 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 · farm boardneeds both histories

Funding pays, the price is against you. Ondo Perps is 0.145% cheaper against Phemex than usual: you would sell low and buy high (spread −0.145% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$14 on $10k: about 9.6 days of funding at the current rate (+$2 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex BMNRUSDT	27.650	0	get 0.0000% / 8h	2h 08m	$1.6M	$1.5M	10x
Short	Ondo Perps BMNR-USD.P	27.610	0.0050	get 0.0006% / 1h	8m 46s	$36K	$15K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Ondo Perps 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 Ondo PerpsbpOrdersPrice spread, now −0.145%Rate

Funding earned: $10.58
Price spread: −0.145% → 0.000%: −$14.47
Slippage, 4 orders: no order book: not counted
Fee Phemex: 6 bp × 2 orders: −$12
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Net: −$20.88
Costs to cover: 0.170%
Break-even: 20.8 days

Slippage unknown: Phemex: live order book, 4 min ago; Ondo Perps: no order-book sample. 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 Phemex live order book, 4 min ago	3.62 bp	78.0 bp −$78	doesn't fit	doesn't fit	doesn't fit
Sell Ondo Perps no order-book sample	—	—	—	—	—

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
Bitget BMNRUSDT	−0.0889%	8h	27.672	+0.080%	$1.8M	$1.3M	20x	as long as short
BloFin BMNR-USDT	−0.0018%	8h	27.700	+0.181%	$205K	$52K	20x	as long as short
Vest BMNR-USD-PERP	−0.0011%	1h	27.630	−0.072%	—	$36K	25x	as long as short
Aster BMNRUSDT	0.0000%	8h	27.659	+0.034%	$49K	$101K	20x	as long as short
Extended BMNR-USD	0.0000%	1h	27.634	−0.056%	$57K	$498K	10x	as long as short
Binance BMNRUSDT	0.0000%	8h	27.640	−0.036%	$21.7M	$52.9M	25x	as long as short
Bybit BMNRUSDT	0.0000%	8h	27.657	+0.025%	$3.2M	$2.0M	25x	as long as short
OKX BMNR-USDT-SWAP	0.0000%	8h	27.650	0.000%	$3.5M	$4.2M	20x	as long as short
Gate BMNR_USDT	0.0000%	8h	27.660	+0.036%	$4.1M	$9.0M	50x	as long as short
Variational Omni BMNR	0.0000%	8h	27.650	+0.001%	$214K	$596K	—	as long as short

Show all 20 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT BMNR_USDT_Perp	0.0000%	8h	27.640	−0.036%	$5K	$190K	10x	as long as short
SunX BMNR-USDT	0.0000%	8h	27.691	+0.148%	$1K	$867K	10x	as long as short
HTX BMNR-USDT	0.0000%	8h	27.692	+0.152%	$6K	$40K	20x	as long as short
Phemex BMNRUSDTlong	0.0000%	8h	27.650	long leg	$1.6M	$1.5M	10x
QFEX BMNR-USD	+0.0013%	1h	27.660	+0.036%	$1.2M	$1.1M	10x	as long as short
Lighter BMNR	+0.0032%	1h	27.661	+0.040%	$346K	$56K	10x	as long as short
tradeXYZ xyz:BMNR	+0.0050%	1h	27.610	−0.145%	$908K	$1.4M	10x	as long as short
Ondo Perps BMNR-USD.Pshort	+0.0050%	1h	27.610	−0.145%	$36K	$15K	5x
KuCoin BMNRUSDTM	+0.0100%	8h	27.610	−0.145%	$675K	$737K	20x	as long as short
ApeX Omni BMNRUSDT	+0.0100%	1h	27.650	0.000%	$24K	$29K	50x	as long as short