Funding you earn now, next payment 10:00 UTC+0.0198%/8h= +21.6% APRnext payment +$0.25 per $10,000 · paid last 24h +0.037%
Price spread now: Phoenix against Polymarket Perps+0.289%59s7-day average +0.009% · you sell dearer than you buy
Net, funding: paid 7d − costs−$41as in the Funding arb table
Net, price: spread back to 7d avg − costs—prices read too far apart to compare
costs, in and out, $10k−$540.543% of the position
Funding, last 7 days+0.132%+$13 on $10k
+Price spread, last 4 days (all we have)−0.300%−$30 · spread now +0.289%, 7d avg +0.009%
=Both sides work for this trade now. Funding pays +$6 a day on $10k at the current rate, and Phoenix is 0.280% dearer against Polymarket Perps than usual: you sell high and buy low: +$28 more if the spread goes back to its 7-day average of +0.009%. The two prices were read 59 seconds apart, so part of this spread may be the market moving, not a spread.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.132% in total (about 6.9% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.25 per $10,000. In the chart: green and red are payments made; yellow are the hours one leg has not settled yet: what the other leg paid, plus the unsettled leg at its current rate.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Polymarket Perps ARM-USD | 322.27 | 0.0050 | pay 0.0006% / 1h | 46m 05s | $372K | $1.2M | 10x |
| Short | Phoenix ARM | 323.20 | 0.0248 | get 0.0031% / 1h | 46m 05s | $8K | $424K | 10x |
Polymarket Perps ARM-USD
Phoenix ARMFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phoenix 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 itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- $41.49
- Price spread: +0.289% → +0.009%
- $27.96
- Slippage, 4 orders
- −$39.31
- Fee Polymarket Perps: 4 bp × 2 orders
- −$8
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- $15.14
- Costs to cover
- 0.543%
- Break-even
- 4.4 days
Slippage from Polymarket Perps: live order book, 5 min ago; Phoenix: live order book, 64 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, 5 min ago | 1.24 bp | 5.7 bp −$6 | 7.0 bp −$70 | 13.1 bp −$1,312 | doesn't fit |
| Sell Phoenix live order book, 64 min ago | 6.56 bp | 18.9 bp −$19 | 40.8 bp −$408 | doesn't fit | doesn't fit |
ARM on 24 exchanges
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 | |
|---|---|---|---|---|---|---|---|---|
| edgeX ARMUSDC | −0.0644% | 4h | 323.00 | +0.226% | $35K | $362K | 10x | as long as short |
| Deribit ARM_USDC-PERPETUAL | −0.0060% | 1h | 321.95 | −0.099% | $12K | $55K | 10x | as long as short |
| BloFin ARM-USDT | −0.0022% | 8h | 322.43 | +0.050% | $125K | $56K | 20x | as long as short |
| Aster ARMUSDT | 0.0000% | 8h | 322.20 | −0.022% | $7K | $126K | 20x | as long as short |
| Bybit ARMUSDT | 0.0000% | 8h | 322.06 | −0.065% | $1.9M | $2.1M | 25x | as long as short |
| OKX ARM-USDT-SWAP | 0.0000% | 8h | 321.82 | −0.140% | $1.7M | $6.2M | 20x | as long as short |
| Gate ARM_USDT | 0.0000% | 8h | 322.25 | −0.006% | $1.4M | $4.0M | 50x | as long as short |
| Bitget ARMUSDT | 0.0000% | 8h | 321.95 | −0.099% | $1.7M | $4.2M | 20x | as long as short |
| Variational Omni ARM | 0.0000% | 8h | 322.99 | +0.223% | $187K | $219K | — | as long as short |
| SunX ARM-USDT | 0.0000% | 8h | 322.08 | −0.059% | $1K | $2.1M | 10x | as long as short |
edgeX ARMUSDC
Deribit ARM_USDC-PERPETUAL
BloFin ARM-USDT
Aster ARMUSDT
Bybit ARMUSDT
OKX ARM-USDT-SWAP
Gate ARM_USDT
Bitget ARMUSDT
Variational Omni ARM
SunX ARM-USDTShow all 24 exchanges
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| HTX ARM-USDT | 0.0000% | 8h | 322.89 | +0.192% | $18K | $11K | 20x | as long as short |
| Binance ARMUSDT | +0.0005% | 8h | 321.95 | −0.099% | $8.2M | $50.5M | 20x | as long as short |
| Extended ARM-USD | +0.0008% | 1h | 321.99 | −0.086% | $32K | $324K | 10x | as long as short |
| QFEX ARM-USD | +0.0019% | 1h | 322.12 | −0.047% | $1.1M | $3.3M | 10x | as long as short |
| Lighter ARM | +0.0032% | 1h | 321.87 | −0.124% | — | — | 10x | as long as short |
| Vest ARM-USD-PERP | +0.0046% | 1h | 322.21 | −0.019% | — | — | 10x | as long as short |
| Polymarket Perps ARM-USDlong | +0.0050% | 1h | 322.27 | long leg | $372K | $1.2M | 10x | |
| Ondo Perps ARM-USD.P | +0.0050% | 1h | 322.66 | +0.121% | $182K | $445K | 10x | as long as short |
| Coinbase International ARM-PERP-INTX | +0.0096% | 1h | 321.45 | −0.254% | $99K | $271K | 10x | as long as short |
| Injective ARM/USDC PERP | +0.0207% | 1h | 322.26 | −0.003% | $3K | $60K | 12x | as long as short |
| KuCoin ARMUSDTM | +0.0209% | 8h | 322.16 | −0.034% | $2.3M | $275K | 20x | as long as short |
| tradeXYZ xyz:ARM | +0.0228% | 1h | 321.64 | −0.195% | $8.3M | $8.7M | 10x | as long as short |
| Phoenix ARMshort | +0.0248% | 1h | 323.20 | +0.289% | $8K | $424K | 10x | |
| GRVT ARM_USDT_Perp | +0.0873% | 8h | 323.11 | +0.261% | $291 | $254K | 10x | as long as short |
HTX ARM-USDT
Binance ARMUSDT
Extended ARM-USD
QFEX ARM-USD
Lighter ARM
Vest ARM-USD-PERP
Ondo Perps ARM-USD.P
Coinbase International ARM-PERP-INTX
Injective ARM/USDC PERP
KuCoin ARMUSDTM
tradeXYZ xyz:ARM
GRVT ARM_USDT_Perp