Funding arb · Price arb /

BMNR

RWAall BMNR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0828%/8h= −90.7% APRpaid last 24h −0.005%

Price spread now: Bitget against QFEX+0.160%7-day average +0.054% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$93as in the Price arb table

costs, in and out, $10k−$1041.040% of the position

Long on QFEX Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.018%−$2 on $10k

Price spread, last 7 days−0.015%−$1 · spread now +0.160%, 7d avg +0.054%

Together, before fees−0.033%−$3 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Bitget is 0.106% dearer against QFEX than usual: you sell high and buy low (spread +0.160% now, against its 7-day average of +0.054%): +$11 on $10k if it goes back. Holding the pair costs −$25 a day in funding at the current rate, which eats that in about 10 hours. At the pace of the last 4 days (−0.018% in total) that is about 21 days.

The current funding rate is far above what this pair has been paying: over the last 4 days it paid -0.018% in total (about -1.8% a year). A funding rate is set anew for every payment. 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	QFEX BMNR-USD	27.460	0.0019	pay 0.0002% / 1h	31m 14s	$1.2M	$1.1M	10x
Short	Bitget BMNRUSDT	27.504	−0.0809	pay 0.0809% / 8h	1h 31m	$1.8M	$1.3M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against QFEX. 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 QFEXbpFee BitgetbpOrdersPrice spread, now +0.160%Rate

Funding earned: −$173.96
Price spread: +0.160% → +0.054%: $10.61
Slippage, 4 orders: −$81.99
Fee QFEX: 5 bp × 2 orders: −$10
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$267.34
Costs to cover: 1.040%
Break-even: never at this rate

Slippage from QFEX: live order book, 9 min ago; Bitget: live order book, 1 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 QFEX live order book, 9 min ago	3.64 bp	12.3 bp −$12	15.7 bp −$157	doesn't fit	doesn't fit
Sell Bitget live order book, 1 min ago	2.91 bp	70.2 bp −$70	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 BMNRUSDTshort	−0.0809%	8h	27.504	+0.160%	$1.8M	$1.3M	20x
Vest BMNR-USD-PERP	−0.0006%	1h	27.420	−0.146%	—	$36K	25x	as long as short
Aster BMNRUSDT	0.0000%	8h	27.460	0.000%	$47K	$101K	20x	as long as short
Extended BMNR-USD	0.0000%	1h	27.463	+0.012%	$61K	$345K	10x	as long as short
Binance BMNRUSDT	0.0000%	8h	27.470	+0.036%	$21.6M	$52.8M	25x	as long as short
Bybit BMNRUSDT	0.0000%	8h	27.477	+0.062%	$3.2M	$2.0M	25x	as long as short
OKX BMNR-USDT-SWAP	0.0000%	8h	27.480	+0.073%	$3.5M	$4.2M	20x	as long as short
Gate BMNR_USDT	0.0000%	8h	27.480	+0.073%	$4.1M	$8.6M	50x	as long as short
Variational Omni BMNR	0.0000%	8h	27.440	−0.072%	$212K	$616K	—	as long as short
GRVT BMNR_USDT_Perp	0.0000%	8h	27.456	−0.015%	$6K	$188K	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	27.493	+0.120%	$973	$859K	10x	as long as short
HTX BMNR-USDT	0.0000%	8h	27.479	+0.069%	$6K	$40K	20x	as long as short
Phemex BMNRUSDT	0.0000%	8h	27.470	+0.036%	$1.6M	$1.5M	10x	as long as short
BloFin BMNR-USDT	+0.0017%	8h	27.440	−0.073%	$206K	$51K	20x	as long as short
QFEX BMNR-USDlong	+0.0019%	1h	27.460	long leg	$1.2M	$1.1M	10x
Lighter BMNR	+0.0032%	1h	27.454	−0.022%	$343K	$52K	10x	as long as short
tradeXYZ xyz:BMNR	+0.0050%	1h	27.450	−0.036%	$902K	$1.4M	10x	as long as short
Ondo Perps BMNR-USD.P	+0.0050%	1h	27.400	−0.218%	$36K	$15K	5x	as long as short
KuCoin BMNRUSDTM	+0.0100%	8h	27.460	0.000%	$671K	$727K	20x	as long as short
ApeX Omni BMNRUSDT	+0.0100%	1h	27.450	−0.036%	$24K	$29K	50x	as long as short