Funding arb · Price arb /

NAS100

RWAall NAS100 markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0050%/8h= −5.5% APRpaid last 24h −0.015%

Price spread now: Phemex against Polymarket Perps−0.116%7-day average −0.173% · you buy dearer than you sell

Net, funding: paid 7d − costs−$73as in the Funding arb table

Net, price: spread back to 7d avg − costs−$55as in the Price arb table

costs, in and out, $10k−$610.609% of the position

Long on Polymarket Perps Short on Phemex

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)−0.028%−$3 · spread now −0.116%, 7d avg −0.173%

Together, before fees−0.145%−$15 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Phemex is 0.057% dearer against Polymarket Perps than usual: you sell high and buy low (spread −0.116% now, against its 7-day average of −0.173%): +$6 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 3.8 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Polymarket Perps NAS100-USD	30,469	0.0050	pay 0.0006% / 1h	50m 39s	$7.2M	$2.0M	50x
Short	Phemex NAS100USDT	30,433.7	0	get 0.0000% / 4h	50m 39s	$1.4M	$194K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against Polymarket Perps. 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 Polymarket PerpsbpFee PhemexbpOrdersPrice spread, now −0.116%Rate

Funding earned: −$10.5
Price spread: −0.116% → −0.173%: $5.69
Slippage, 4 orders: −$40.92
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$65.73
Costs to cover: 0.609%
Break-even: never at this rate

Slippage from Polymarket Perps: live order book, 3 min ago; Phemex: live order book, 2 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 Polymarket Perps live order book, 3 min ago	0.16 bp	4.2 bp −$4	5.4 bp −$54	6.2 bp −$621	11.7 bp −$5,838
Sell Phemex live order book, 2 min ago	11.82 bp	24.7 bp −$25	doesn't fit	doesn't fit	doesn't fit

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	−0.0281%	8h	30,457.1	−0.039%	$101K	$38K	20x	as long as short
Gate NAS100_USDT	−0.0200%	8h	30,421.2	−0.157%	$2.0M	$3.3M	100x	as long as short
MEXC NAS100_USDT	−0.0072%	8h	30,470	+0.003%	$23.9M	$20.6M	200x	as long as short
OKX US100-USDT-SWAP	0.0000%	8h	30,438	−0.102%	$268K	$380K	20x	as long as short
Bitget NDX100USDT	0.0000%	8h	30,489	+0.066%	$3.5M	$630K	50x	as long as short
Bullet US100-USD	0.0000%	1h	30,469	0.000%	$4K	$91K	10x	as long as short
Phemex NAS100USDTshort	0.0000%	4h	30,433.7	−0.116%	$1.4M	$194K	10x
QFEX US100-USD	0.0000%	1h	30,467	−0.007%	$1.3M	$1.4M	30x	as long as short
Lighter US100	+0.0032%	1h	30,466	−0.010%	$3.9M	$93.9M	30x	as long as short
Extended TECH100m-USD	+0.0032%	1h	30,473.6	+0.015%	$2.0M	$5.9M	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	30,764.4	+0.969%	—	$203.2M	50x	as long as short
Paradex US100-USD-PERP	+0.0050%	8h	30,465.1	−0.013%	—	—	5x	as long as short
Polymarket Perps NAS100-USDlong	+0.0050%	1h	30,469	long leg	$7.2M	$2.0M	50x
Ondo Perps US100-USD.P	+0.0050%	1h	30,472.8	+0.012%	$6.0M	$8.9M	25x	as long as short
Kraken Futures PF_US100USD	+0.1160%	1h	30,495.7	+0.088%	$141K	$141K	20x	as long as short