Funding arb · Price arb /

NAS100

RWAall NAS100 markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0050%/8h= +5.5% APRpaid last 24h +0.015%

Price spread now: Polymarket Perps against Phemex+0.098%7-day average +0.174% · you sell dearer than you buy

Net, funding: paid 7d − costs−$35as in the Funding arb table

Net, price: spread back to 7d avg − costs−$54as in the Price arb table

costs, in and out, $10k−$470.468% of the position

Long on Phemex Short on Polymarket Perps

What this pair did over the last

the charts below follow

Funding, last 7 days+0.117%+$12 on $10k

Price spread, last 4 days (all we have)−0.140%−$14 · spread now +0.098%, 7d avg +0.174%

Together, before fees−0.022%−$2 on $10k · with fees, hour by hour

Funding pays, the price is against you. Polymarket Perps is 0.075% cheaper against Phemex than usual: you would sell low and buy high (spread +0.098% now, against its 7-day average of +0.174%). If the spread goes back, that is −$8 on $10k: about 5.0 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 NAS100USDT	30,547.9	0	get 0.0000% / 4h	1h 29m	$1.4M	$175K	10x
Short	Polymarket Perps NAS100-USD	30,578	0.0050	get 0.0006% / 1h	29m 51s	$7.2M	$1.9M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket 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 Polymarket PerpsbpOrdersPrice spread, now +0.098%Rate

Funding earned: $10.5
Price spread: +0.098% → +0.174%: −$7.52
Slippage, 4 orders: −$26.77
Fee Phemex: 6 bp × 2 orders: −$12
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: −$43.79
Costs to cover: 0.468%
Break-even: 36.2 days

Slippage from Phemex: live order book, 3 min ago; Polymarket Perps: 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 Phemex live order book, 3 min ago	3.51 bp	17.5 bp −$17	doesn't fit	doesn't fit	doesn't fit
Sell Polymarket Perps live order book, 4 min ago	0.16 bp	4.2 bp −$4	4.6 bp −$46	5.3 bp −$527	10.5 bp −$5,273

NAS100 on 15 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
Orderly PERP_NAS100_USDC	−0.0213%	8h	30,564.2	+0.053%	$102K	$38K	20x	as long as short
Gate NAS100_USDT	−0.0200%	8h	30,548.2	+0.001%	$1.9M	$3.7M	100x	as long as short
MEXC NAS100_USDT	−0.0093%	8h	30,578	+0.098%	$24.1M	$19.4M	200x	as long as short
OKX US100-USDT-SWAP	0.0000%	8h	30,549	+0.004%	$263K	$380K	20x	as long as short
Bitget NDX100USDT	0.0000%	8h	30,547	−0.003%	$3.5M	$621K	50x	as long as short
Bullet US100-USD	0.0000%	1h	30,578.6	+0.100%	$3K	$89K	10x	as long as short
Phemex NAS100USDTlong	0.0000%	4h	30,547.9	long leg	$1.4M	$175K	10x
QFEX US100-USD	+0.0004%	1h	30,579	+0.102%	$1.4M	$1.1M	30x	as long as short
Lighter US100	+0.0032%	1h	30,572	+0.079%	$3.9M	$95.0M	30x	as long as short
Extended TECH100m-USD	+0.0032%	1h	30,577.4	+0.097%	$2.2M	$5.3M	20x	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Vest NDX-USD-PERP	+0.0046%	1h	30,866.8	+1.044%	—	$193.5M	50x	as long as short
Paradex US100-USD-PERP	+0.0050%	8h	30,571.9	+0.078%	—	—	5x	as long as short
Polymarket Perps NAS100-USDshort	+0.0050%	1h	30,578	+0.098%	$7.2M	$1.9M	50x
Ondo Perps US100-USD.P	+0.0135%	1h	30,588.5	+0.133%	$6.0M	$8.5M	25x	as long as short
Kraken Futures PF_US100USD	+0.2811%	1h	30,644.6	+0.316%	$131K	$127K	20x	as long as short