ARB

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0095%/8h= −10.4% APRnext payment −$0.12 per $10,000 · paid last 24h −0.177%

Price spread now: Polymarket Perps against Backpack−0.068%7-day average −0.820% · you buy dearer than you sell

Net, funding: paid 7d − costs−$102as in the Funding arb table

Net, price: spread back to 7d avg − costs+$42as in the Price arb table

costs, in and out, $10k−$330.331% of the position

Long on Backpack Short on Polymarket Perps

What this pair did over the last

the charts below follow

Funding, last 7 days−0.688%−$69 on $10k

Price spread, last 7 days−4.059%−$406 · spread now −0.068%, 7d avg −0.820%

Together, before fees−4.747%−$475 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Polymarket Perps is 0.751% dearer against Backpack than usual: you sell high and buy low (spread −0.068% now, against its 7-day average of −0.820%): +$75 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 26 days. At the pace of the last 7 days (−0.688% in total) that is about 7.6 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack ARB_USDC_PERP	0.2192	0.0195	pay 0.0024% / 1h	53m 29s	$980K	$2.8M	20x
Short	Polymarket Perps ARB-USD	0.2191	0.0100	get 0.0013% / 1h	53m 29s	$73K	$2.1M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket Perps against Backpack. 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 BackpackbpFee Polymarket PerpsbpOrdersPrice spread, now −0.068%Rate

Funding earned: −$19.86
Price spread: −0.068% → −0.820%: $75.12
Slippage, 4 orders: −$15.1
Fee Backpack: 5 bp × 2 orders: −$10
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: $22.16
Costs to cover: 0.331%
Break-even: from the start

Slippage from Backpack: live order book, 1 min ago; Polymarket Perps: live order book, 10 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 Backpack live order book, 1 min ago	0.91 bp	10.9 bp −$11	doesn't fit	doesn't fit	doesn't fit
Sell Polymarket Perps live order book, 10 min ago	2.52 bp	6.7 bp −$7	9.4 bp −$94	doesn't fit	doesn't fit

ARB on 36 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
Injective ARB/USDC PERP	−0.1605%	1h	0.2174	−0.826%	$39K	$372K	12x	as long as short
Gate ARB_USDT	−0.0374%	8h	0.2188	−0.196%	$5.4M	$18.1M	60x	as long as short
Kraken Futures PF_ARBUSD	−0.0168%	1h	0.2191	−0.046%	$1.1M	$4.3M	50x	as long as short
SoDEX ARB-USD	−0.0167%	1h	0.2190	−0.119%	$9K	$2.2M	5x	as long as short
Bybit ARBUSDT	−0.0127%	8h	0.2189	−0.132%	$53.3M	$125.9M	50x	as long as short
Phemex ARBUSDT	−0.0119%	8h	0.2190	−0.096%	$4.8M	$12.8M	50x	as long as short
01 Exchange ARBUSD	−0.0096%	1h	0.2189	−0.141%	$7K	$236	10x	as long as short
OKX ARB-USDT-SWAP	−0.0070%	8h	0.2189	−0.146%	$22.1M	$145.4M	50x	as long as short
MEXC ARB_USDT	−0.0069%	8h	0.2189	−0.155%	$42.7M	$62.5M	200x	as long as short
Orderly PERP_ARB_USDC	−0.0040%	8h	0.2190	−0.096%	$16K	$412K	10x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT ARB_USDT_Perp	−0.0023%	8h	0.2185	−0.316%	$470K	$3.6M	10x	as long as short
dYdX ARB-USD	0.0000%	1h	0.2190	−0.116%	$65K	$4K	10x	as long as short
Extended ARB-USD	0.0000%	1h	0.2186	−0.269%	$364K	$3.1M	25x	as long as short
Deribit ARB_USDC-PERPETUAL	0.0000%	1h	0.2190	−0.091%	$28K	$38K	25x	as long as short
Binance ARBUSDT	+0.0004%	8h	0.2190	−0.114%	$63.2M	$299.2M	75x	as long as short
gTrade (Gains Network) ARB/USD	L +0.0005% / S −0.0006%	1h	0.2191	−0.034%	$73K	—	150x	as long as short
BloFin ARB-USDT	+0.0021%	8h	0.2189	−0.123%	$3.0M	$2.3M	75x	as long as short
Variational Omni ARB	+0.0034%	8h	0.2186	−0.256%	$1.8M	$3.0M	—	as long as short
Aevo ARB-PERP	+0.0080%	1h	0.2191	−0.065%	$139K	$7K	3x	as long as short
Bitget ARBUSDT	+0.0083%	8h	0.2188	−0.187%	$21.1M	$34.6M	50x	as long as short
BingX ARB-USDC	+0.0087%	8h	0.2189	−0.123%	—	$6.5M	—	as long as short
Lighter ARB	+0.0096%	1h	0.2188	−0.187%	$1.3M	$5.5M	15x	as long as short
Hyperliquid ARB	+0.0100%	1h	0.2190	−0.078%	$36.6M	$49.7M	10x	as long as short
Aster ARBUSDT	+0.0100%	8h	0.2189	−0.140%	$627K	$1.7M	20x	as long as short
Pacifica ARB	+0.0100%	1h	0.2189	−0.138%	$43K	$146K	10x	as long as short
KuCoin ARBUSDTM	+0.0100%	8h	0.2189	−0.141%	$19.5M	$13.8M	75x	as long as short
edgeX ARBUSDC	+0.0100%	4h	0.2185	−0.311%	$40K	$465K	20x	as long as short
ApeX Omni ARBUSDT	+0.0100%	1h	0.2185	−0.324%	$118K	$267K	50x	as long as short
Polymarket Perps ARB-USDshort	+0.0100%	1h	0.2191	−0.068%	$73K	$2.1M	10x
SunX ARB-USDT	+0.0100%	8h	0.2194	+0.087%	$2K	$1.1M	30x	as long as short
HTX ARB-USDT	+0.0100%	8h	0.2192	−0.009%	$294K	$836K	50x	as long as short
RISEx ARB/USDC	+0.0123%	1h	0.2189	−0.131%	$514K	$2.7M	10x	as long as short
Backpack ARB_USDC_PERPlong	+0.0195%	1h	0.2192	long leg	$980K	$2.8M	20x
GMX ARB/USD [ARB-USDC]	L +0.0277% / S −0.0160%	1h	0.2190	−0.095%	$831K	—	150x	as long as short
Reya ARBRUSDPERP	+0.0288%	1h	0.2188	−0.192%	$2K	$695	20x	as long as short
Coinbase International ARB-PERP-INTX	+0.0336%	1h	0.2193	+0.059%	$523K	$1.5M	50x	as long as short