Funding arb · Price arb /

CXMT

RWAall CXMT markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.5479%/8h= −600.0% APRpaid last 24h −0.093%

Price spread now: Popdex against SunX−0.078%7-day average −0.056% · 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−$99as in the Price arb table

costs, in and out, $10k−$960.963% of the position

Long on SunX Short on Popdex

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.086%−$9 on $10k

Price spread, last 4 days (all we have)+0.009%+$1 · spread now −0.078%, 7d avg −0.056%

Together, before fees−0.077%−$8 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$164 a day on $10k at the current rate, and Popdex is 0.022% cheaper against SunX than usual: you would sell low and buy high (−$2 if the spread goes back to its 7-day average of −0.056%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 4 days it paid -0.086% in total (about -8.9% 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	SunX CXMT-USDT	8.7578	−0.1617	get 0.0808% / 4h	1h 12m	$86	$2.4M	10x
Short	Popdex CXMTUSDT	8.7510	−0.7096	pay 0.0887% / 1h	12m 24s	$1K	$115K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Popdex against SunX. 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 SunXbpFee PopdexbpOrdersPrice spread, now −0.078%Rate

Funding earned: −$1,150.61
Price spread: −0.078% → −0.056%: −$2.19
Slippage, 4 orders: −$81.95
Fee SunX: 4 bp × 2 orders: −$8
Fee Popdex: 3.2 bp × 2 orders: −$6.4
Net: −$1,249.15
Costs to cover: 0.963%
Break-even: never at this rate

Slippage from SunX: live order book, 4 min ago; Popdex: live order book, 51 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 SunX live order book, 4 min ago	23.31 bp	27.3 bp −$27	doesn't fit	doesn't fit	doesn't fit
Sell Popdex live order book, 51 min ago	2.33 bp	14.6 bp −$15	doesn't fit	doesn't fit	doesn't fit

CXMT on 16 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
Popdex CXMTUSDTshort	−0.7096%	1h	8.7510	−0.078%	$1K	$115K	20x
Polymarket Perps CXMT-USD	−0.4870%	1h	8.8179	+0.686%	$9K	$49K	10x	as long as short
tradeXYZ xyz:CXMT	−0.4755%	1h	8.7449	−0.147%	$56.8M	$8.1M	10x	as long as short
Ondo Perps CXMT-USD.P	−0.3986%	1h	8.6970	−0.694%	$29K	$33K	10x	as long as short
Bybit CXMTUSDT	−0.3854%	8h	8.7330	−0.283%	$972K	$714K	20x	as long as short
SoDEX CXMT-USD	−0.3774%	1h	8.7440	−0.158%	$233K	$9K	5x	as long as short
Gate CXMT_USDT	−0.3464%	1h	8.7310	−0.306%	$5.7M	$12.1M	50x	as long as short
Lighter CXMT	−0.2992%	1h	8.7706	+0.146%	$102K	$21K	5x	as long as short
Binance CXMTUSDT	−0.2857%	4h	8.7560	−0.021%	$4.5M	$8.4M	20x	as long as short
ApeX Omni CXMTUSDT	−0.1672%	1h	8.7800	+0.253%	$8K	$250K	50x	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX CXMT-USDTlong	−0.1617%	4h	8.7578	long leg	$86	$2.4M	10x
Bitget CXMTUSDT	−0.1179%	8h	8.7440	−0.158%	$603K	$828K	20x	as long as short
OKX CXMT-USDT-SWAP	−0.1129%	8h	8.7460	−0.135%	$1.4M	$5.1M	20x	as long as short
Aster CXMTUSDT	−0.1004%	8h	8.7550	−0.032%	$147K	$104K	20x	as long as short
edgeX CXMTUSDC	−0.0016%	4h	8.7343	−0.268%	$442K	$242K	10x	as long as short
HTX CXMT-USDT	0.0000%	4h	8.8330	+0.859%	$32K	$37K	10x	as long as short