Funding arb · Price arb /

BMNR

RWAall BMNR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0018%/8h= −1.9% APRpaid last 24h −0.006%

Price spread now: Bybit against QFEX−0.022%7-day average +0.033% · you buy dearer than you sell

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

Net, price: spread back to 7d avg − costs−$83as in the Price arb table

costs, in and out, $10k−$780.780% of the position

Long on QFEX Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.031%−$3 on $10k

Price spread, last 7 days+0.100%+$10 · spread now −0.022%, 7d avg +0.033%

Together, before fees+0.069%+$7 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Bybit is 0.055% cheaper against QFEX than usual: you would sell low and buy high (−$5 if the spread goes back to its 7-day average of +0.033%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	QFEX BMNR-USD	27.780	0.0018	pay 0.0002% / 1h	23m 13s	$1.2M	$1.1M	10x
Short	Bybit BMNRUSDT	27.774	0	get 0.0000% / 8h	4h 23m	$3.2M	$2.0M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now −0.022%Rate

Funding earned: −$3.73
Price spread: −0.022% → +0.033%: −$5.47
Slippage, 4 orders: −$56.96
Fee QFEX: 5 bp × 2 orders: −$10
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$87.17
Costs to cover: 0.780%
Break-even: never at this rate

Slippage from QFEX: live order book, 3 min ago; Bybit: 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 QFEX live order book, 3 min ago	3.60 bp	8.6 bp −$9	12.8 bp −$128	doesn't fit	doesn't fit
Sell Bybit live order book, 4 min ago	3.78 bp	25.5 bp −$26	123.9 bp −$1,239	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	−0.0745%	8h	27.797	+0.061%	$1.9M	$934K	20x	as long as short
Aster BMNRUSDT	0.0000%	8h	27.759	−0.074%	$49K	$101K	20x	as long as short
Extended BMNR-USD	0.0000%	1h	27.779	−0.005%	$53K	$625K	10x	as long as short
Binance BMNRUSDT	0.0000%	8h	27.788	+0.028%	$22.0M	$52.8M	25x	as long as short
Bybit BMNRUSDTshort	0.0000%	8h	27.774	−0.022%	$3.2M	$2.0M	25x
OKX BMNR-USDT-SWAP	0.0000%	8h	27.790	+0.036%	$3.5M	$4.2M	20x	as long as short
Gate BMNR_USDT	0.0000%	8h	27.780	0.000%	$4.2M	$9.3M	50x	as long as short
Variational Omni BMNR	0.0000%	8h	27.780	−0.001%	$324K	$504K	—	as long as short
GRVT BMNR_USDT_Perp	0.0000%	8h	27.780	0.000%	$6K	$182K	10x	as long as short
SunX BMNR-USDT	0.0000%	8h	27.790	+0.036%	$1K	$888K	10x	as long as short

Show all 20 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX BMNR-USDT	0.0000%	8h	27.759	−0.076%	$5K	$40K	20x	as long as short
Phemex BMNRUSDT	0.0000%	8h	27.790	+0.036%	$1.6M	$1.5M	10x	as long as short
BloFin BMNR-USDT	+0.0014%	8h	27.780	0.000%	$209K	$52K	20x	as long as short
QFEX BMNR-USDlong	+0.0018%	1h	27.780	long leg	$1.2M	$1.1M	10x
Lighter BMNR	+0.0032%	1h	27.791	+0.040%	$350K	$53K	10x	as long as short
Vest BMNR-USD-PERP	+0.0046%	1h	27.760	−0.072%	—	$36K	25x	as long as short
tradeXYZ xyz:BMNR	+0.0050%	1h	27.786	+0.022%	$916K	$1.5M	10x	as long as short
Ondo Perps BMNR-USD.P	+0.0050%	1h	27.790	+0.036%	$36K	$15K	5x	as long as short
KuCoin BMNRUSDTM	+0.0100%	8h	27.770	−0.036%	$679K	$776K	20x	as long as short
ApeX Omni BMNRUSDT	+0.0100%	1h	27.750	−0.108%	$24K	$29K	50x	as long as short