Funding arb · Price arb /

ARB

all ARB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0348%/8h= −38.1% APRpaid last 24h −0.036%

Price spread now: Polymarket Perps against Phemex+0.041%7-day average −0.045% · you sell dearer than you buy

Net, funding: paid 7d − costs−$80as in the Funding arb table

Net, price: spread back to 7d avg − costs−$32as in the Price arb table

costs, in and out, $10k−$400.402% 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−0.401%−$40 on $10k

Price spread, last 4 days (all we have)−0.666%−$67 · spread now +0.041%, 7d avg −0.045%

Together, before fees−1.067%−$107 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Polymarket Perps is 0.085% dearer against Phemex than usual: you sell high and buy low (spread +0.041% now, against its 7-day average of −0.045%): +$9 on $10k if it goes back. Holding the pair costs −$10 a day in funding at the current rate, which eats that in about 20 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex ARBUSDT	0.2210	0.0100	pay 0.0100% / 8h	1h 46m	$5.0M	$12.9M	50x
Short	Polymarket Perps ARB-USD	0.2211	−0.0248	pay 0.0031% / 1h	46m 41s	$67K	$2.1M	10x

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 +0.041%Rate

Funding earned: −$73.1
Price spread: +0.041% → −0.045%: $8.54
Slippage, 4 orders: −$20.16
Fee Phemex: 6 bp × 2 orders: −$12
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: −$104.72
Costs to cover: 0.402%
Break-even: never at this rate

Slippage from Phemex: live order book, 2 min ago; Polymarket Perps: 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 Phemex live order book, 2 min ago	4.52 bp	13.1 bp −$13	25.9 bp −$259	doesn't fit	doesn't fit
Sell Polymarket Perps live order book, 2 min ago	2.72 bp	6.7 bp −$7	8.8 bp −$88	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	−0.1592%	1h	0.2200	−0.452%	$40K	$372K	12x	as long as short
Polymarket Perps ARB-USDshort	−0.0248%	1h	0.2211	+0.041%	$67K	$2.1M	10x
SoDEX ARB-USD	−0.0077%	1h	0.2210	−0.014%	$9K	$2.2M	5x	as long as short
OKX ARB-USDT-SWAP	−0.0072%	8h	0.2209	−0.027%	$22.1M	$146.6M	50x	as long as short
MEXC ARB_USDT	−0.0071%	8h	0.2210	+0.014%	$41.7M	$61.6M	200x	as long as short
Variational Omni ARB	−0.0070%	8h	0.2210	−0.005%	$1.8M	$3.0M	—	as long as short
01 Exchange ARBUSD	−0.0064%	1h	0.2213	+0.127%	$7K	$236	10x	as long as short
Orderly PERP_ARB_USDC	−0.0045%	8h	0.2210	0.000%	$12K	$406K	10x	as long as short
Bybit ARBUSDT	−0.0026%	8h	0.2210	+0.018%	$54.4M	$126.5M	50x	as long as short
dYdX ARB-USD	0.0000%	1h	0.2212	+0.075%	$65K	$5K	10x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Deribit ARB_USDC-PERPETUAL	0.0000%	1h	0.2210	+0.009%	$28K	$38K	25x	as long as short
gTrade (Gains Network) ARB/USD	L +0.0005% / S −0.0009%	1h	0.2211	+0.060%	$44K	—	150x	as long as short
RISEx ARB/USDC	+0.0056%	1h	0.2209	−0.051%	$460K	$2.6M	10x	as long as short
Bitget ARBUSDT	+0.0057%	8h	0.2211	+0.045%	$21.2M	$34.8M	50x	as long as short
Gate ARB_USDT	+0.0069%	8h	0.2211	+0.054%	$5.4M	$18.3M	60x	as long as short
Binance ARBUSDT	+0.0093%	8h	0.2211	+0.039%	$63.2M	$302.0M	75x	as long as short
Lighter ARB	+0.0096%	1h	0.2211	+0.032%	$1.2M	$5.5M	15x	as long as short
Extended ARB-USD	+0.0096%	1h	0.2208	−0.102%	$352K	$2.8M	25x	as long as short
BingX ARB-USDC	+0.0096%	8h	0.2211	+0.032%	—	$6.5M	—	as long as short
Hyperliquid ARB	+0.0100%	1h	0.2213	+0.127%	$37.4M	$49.4M	10x	as long as short
Aster ARBUSDT	+0.0100%	8h	0.2212	+0.083%	$635K	$1.7M	20x	as long as short
Pacifica ARB	+0.0100%	1h	0.2211	+0.045%	$43K	$150K	10x	as long as short
KuCoin ARBUSDTM	+0.0100%	8h	0.2211	+0.050%	$19.7M	$14.3M	75x	as long as short
edgeX ARBUSDC	+0.0100%	4h	0.2213	+0.122%	$39K	$464K	20x	as long as short
GRVT ARB_USDT_Perp	+0.0100%	8h	0.2209	−0.032%	$480K	$3.7M	10x	as long as short
ApeX Omni ARBUSDT	+0.0100%	1h	0.2212	+0.090%	$119K	$282K	50x	as long as short
SunX ARB-USDT	+0.0100%	8h	0.2214	+0.181%	$2K	$1.1M	30x	as long as short
HTX ARB-USDT	+0.0100%	8h	0.2210	+0.005%	$295K	$873K	50x	as long as short
Phemex ARBUSDTlong	+0.0100%	8h	0.2210	long leg	$5.0M	$12.9M	50x
Aevo ARB-PERP	+0.0104%	1h	0.2211	+0.045%	$140K	$7K	3x	as long as short
BloFin ARB-USDT	+0.0215%	8h	0.2209	−0.032%	$3.1M	$2.3M	75x	as long as short
Kraken Futures PF_ARBUSD	+0.0230%	1h	0.2211	+0.048%	$1.1M	$4.5M	50x	as long as short
GMX ARB/USD [ARB-USDC]	L +0.0276% / S −0.0158%	1h	0.2211	+0.039%	$835K	—	150x	as long as short
Coinbase International ARB-PERP-INTX	+0.0288%	1h	0.2215	+0.226%	$518K	$1.6M	50x	as long as short
Reya ARBRUSDPERP	+0.0289%	1h	0.2210	+0.007%	$2K	$695	20x	as long as short
Backpack ARB_USDC_PERP	+0.0635%	1h	0.2215	+0.204%	$993K	$2.8M	20x	as long as short