Funding arb · Price arb /

BMNR

RWAall BMNR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0001%/8h= −0.1% APRpaid last 24h +0.006%

Price spread now: QFEX against Phemex−0.035%7-day average +0.014% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$136as in the Price arb table

costs, in and out, $10k−$1321.315% of the position

Long on Phemex Short on QFEX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.013%+$1 on $10k

Price spread, last 3 days (all we have)+0.081%+$8 · spread now −0.035%, 7d avg +0.014%

Together, before fees+0.094%+$9 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: QFEX is 0.049% cheaper against Phemex than usual: you would sell low and buy high, −$5 on $10k if it goes back to its 7-day average of +0.014%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex BMNRUSDT	28.460	0	get 0.0000% / 8h	7h 45m	$1.6M	$1.5M	10x
Short	QFEX BMNR-USD	28.450	−0.0001	pay 0.0000% / 1h	45m 03s	$1.2M	$1.8M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

QFEX 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 QFEXbpOrdersPrice spread, now −0.035%Rate

Funding earned: −$0.18
Price spread: −0.035% → +0.014%: −$4.89
Slippage, 4 orders: −$109.54
Fee Phemex: 6 bp × 2 orders: −$12
Fee QFEX: 5 bp × 2 orders: −$10
Net: −$136.61
Costs to cover: 1.315%
Break-even: never at this rate

Slippage from Phemex: live order book, 3 min ago; QFEX: 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, 3 min ago	8.80 bp	50.6 bp −$51	doesn't fit	doesn't fit	doesn't fit
Sell QFEX live order book, 2 min ago	1.76 bp	10.3 bp −$10	14.1 bp −$141	doesn't fit	doesn't fit

BMNR on 20 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
QFEX BMNR-USDshort	−0.0001%	1h	28.450	−0.035%	$1.2M	$1.8M	10x
Aster BMNRUSDT	0.0000%	8h	28.463	+0.010%	$54K	$98K	20x	as long as short
Extended BMNR-USD	0.0000%	1h	28.459	−0.005%	$39K	$503K	10x	as long as short
Binance BMNRUSDT	0.0000%	8h	28.464	+0.013%	$22.5M	$54.7M	25x	as long as short
Bybit BMNRUSDT	0.0000%	8h	28.469	+0.032%	$3.4M	$2.0M	25x	as long as short
OKX BMNR-USDT-SWAP	0.0000%	8h	28.480	+0.070%	$3.7M	$6.0M	20x	as long as short
Gate BMNR_USDT	0.0000%	8h	28.470	+0.035%	$4.1M	$9.7M	50x	as long as short
Bitget BMNRUSDT	0.0000%	8h	28.475	+0.053%	$2.0M	$1.1M	20x	as long as short
Variational Omni BMNR	0.0000%	8h	28.436	−0.086%	$317K	$493K	—	as long as short
GRVT BMNR_USDT_Perp	0.0000%	8h	28.436	−0.083%	$6K	$187K	10x	as long as short

Show all 20 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX BMNR-USDT	0.0000%	8h	28.478	+0.063%	$1K	$986K	10x	as long as short
HTX BMNR-USDT	0.0000%	8h	28.465	+0.018%	$5K	$40K	20x	as long as short
Phemex BMNRUSDTlong	0.0000%	8h	28.460	long leg	$1.6M	$1.5M	10x
BloFin BMNR-USDT	+0.0027%	8h	28.450	−0.035%	$213K	$58K	20x	as long as short
Lighter BMNR	+0.0032%	1h	28.446	−0.049%	$336K	$24K	10x	as long as short
Vest BMNR-USD-PERP	+0.0046%	1h	28.480	+0.070%	—	$36K	25x	as long as short
Ondo Perps BMNR-USD.P	+0.0050%	1h	28.400	−0.211%	$37K	$16K	5x	as long as short
KuCoin BMNRUSDTM	+0.0100%	8h	28.450	−0.035%	$704K	$767K	20x	as long as short
ApeX Omni BMNRUSDT	+0.0100%	1h	28.450	−0.035%	$25K	$52K	50x	as long as short
tradeXYZ xyz:BMNR	+0.0187%	1h	28.475	+0.053%	$968K	$1.5M	10x	as long as short