ARB

Alert: funding

Alert: spread

Funding you earn now, next payment 21:00 UTC+0.0405%/8h= +44.4% APRnext payment +$0.51 per $10,000 · paid last 24h +0.100%

Price spread now: Backpack against Polymarket Perps+0.262%7-day average +0.805% · you sell dearer than you buy

Net, funding: paid 7d − costs+$34as in the Funding arb table

Net, price: spread back to 7d avg − costs−$83as in the Price arb table

costs, in and out, $10k−$290.288% of the position

Long on Polymarket Perps Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 7 days+0.624%+$62 on $10k

Price spread, last 7 days−0.788%−$79 · spread now +0.262%, 7d avg +0.805%

Together, before fees−0.164%−$16 on $10k · with fees, hour by hour

Funding pays, the price is against you. Backpack is 0.543% cheaper against Polymarket Perps than usual: you would sell low and buy high (spread +0.262% now, against its 7-day average of +0.805%). If the spread goes back, that is −$54 on $10k: about 4.5 days of funding at the current rate (+$12 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Polymarket Perps ARB-USD	0.2253	0.0045	pay 0.0006% / 1h	21m 19s	$66K	$2.3M	10x
Short	Backpack ARB_USDC_PERP	0.2259	0.0451	get 0.0056% / 1h	21m 19s	$1.1M	$2.9M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack 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 BackpackbpOrdersPrice spread, now +0.262%Rate

Funding earned: $85.12
Price spread: +0.262% → +0.805%: −$54.27
Slippage, 4 orders: −$10.82
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee Backpack: 5 bp × 2 orders: −$10
Net: $2.04
Costs to cover: 0.288%
Break-even: 6.8 days

Slippage from Polymarket Perps: live order book, 2 min ago; Backpack: live order book, 3 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, 2 min ago	1.78 bp	5.8 bp −$6	7.2 bp −$72	doesn't fit	doesn't fit
Sell Backpack live order book, 3 min ago	0.22 bp	10.5 bp −$11	459.6 bp −$4,596	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	−0.0803%	1h	0.2242	−0.497%	$40K	$107K	12x	as long as short
Kraken Futures PF_ARBUSD	−0.0312%	1h	0.2257	+0.188%	$1.2M	$5.2M	50x	as long as short
Bybit ARBUSDT	−0.0292%	8h	0.2251	−0.093%	$58.5M	$134.4M	50x	as long as short
SoDEX ARB-USD	−0.0202%	1h	0.2255	+0.084%	$5K	$2.9M	5x	as long as short
Variational Omni ARB	−0.0190%	8h	0.2258	+0.203%	$1.9M	$2.8M	—	as long as short
01 Exchange ARBUSD	−0.0136%	1h	0.2253	0.000%	$7K	$2K	10x	as long as short
ApeX Omni ARBUSDT	−0.0075%	1h	0.2250	−0.142%	$123K	$275K	50x	as long as short
OKX ARB-USDT-SWAP	−0.0048%	8h	0.2251	−0.111%	$23.2M	$166.3M	50x	as long as short
MEXC ARB_USDT	−0.0046%	8h	0.2252	−0.053%	$38.9M	$63.8M	200x	as long as short
Deribit ARB_USDC-PERPETUAL	−0.0016%	1h	0.2256	+0.138%	$37K	$18K	25x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
dYdX ARB-USD	0.0000%	1h	0.2254	+0.036%	$67K	$4K	10x	as long as short
Orderly PERP_ARB_USDC	+0.0002%	8h	0.2252	−0.053%	$11K	$384K	10x	as long as short
gTrade (Gains Network) ARB/USD	L +0.0005% / S −0.0005%	1h	0.2254	+0.022%	$61K	—	150x	as long as short
Binance ARBUSDT	+0.0015%	8h	0.2252	−0.072%	$64.6M	$323.8M	75x	as long as short
Extended ARB-USD	+0.0016%	1h	0.2251	−0.088%	$358K	$2.5M	25x	as long as short
Gate ARB_USDT	+0.0030%	8h	0.2252	−0.053%	$5.5M	$21.8M	60x	as long as short
Polymarket Perps ARB-USDlong	+0.0045%	1h	0.2253	long leg	$66K	$2.3M	10x
BloFin ARB-USDT	+0.0071%	8h	0.2250	−0.151%	$3.1M	$3.3M	75x	as long as short
Bitget ARBUSDT	+0.0088%	8h	0.2251	−0.098%	$21.1M	$38.8M	50x	as long as short
Aevo ARB-PERP	+0.0088%	1h	0.2254	+0.026%	$147K	$12K	3x	as long as short
BingX ARB-USDT	+0.0090%	8h	0.2251	−0.075%	—	$53.9M	—	as long as short
Lighter ARB	+0.0096%	1h	0.2254	+0.053%	$1.4M	$7.7M	15x	as long as short
Hyperliquid ARB	+0.0100%	1h	0.2255	+0.075%	$40.9M	$52.6M	10x	as long as short
Aster ARBUSDT	+0.0100%	8h	0.2253	−0.022%	$716K	$1.8M	20x	as long as short
Pacifica ARB	+0.0100%	1h	0.2255	+0.079%	$49K	$205K	10x	as long as short
KuCoin ARBUSDTM	+0.0100%	8h	0.2255	+0.058%	$20.8M	$17.3M	75x	as long as short
edgeX ARBUSDC	+0.0100%	4h	0.2249	−0.197%	$38K	$449K	20x	as long as short
GRVT ARB_USDT_Perp	+0.0100%	8h	0.2249	−0.184%	$476K	$4.2M	10x	as long as short
SunX ARB-USDT	+0.0100%	8h	0.2255	+0.080%	$2K	$1.1M	30x	as long as short
HTX ARB-USDT	+0.0100%	8h	0.2252	−0.071%	$276K	$1.2M	50x	as long as short
Phemex ARBUSDT	+0.0100%	8h	0.2255	+0.080%	$5.4M	$13.9M	50x	as long as short
Reya ARBRUSDPERP	+0.0291%	1h	0.2251	−0.076%	$2K	$695	20x	as long as short
GMX ARB/USD [ARB-USDC]	L +0.0292% / S −0.0191%	1h	0.2253	+0.006%	$886K	—	150x	as long as short
Coinbase International ARB-PERP-INTX	+0.0312%	1h	0.2259	+0.257%	$508K	$2.5M	50x	as long as short
Backpack ARB_USDC_PERPshort	+0.0451%	1h	0.2259	+0.262%	$1.1M	$2.9M	20x
RISEx ARB/USDC	+0.0621%	1h	0.2255	+0.100%	$510K	$2.9M	10x	as long as short