Funding arb · Price arb /

BMNR

RWAall BMNR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0778%/8h= −85.2% APRpaid last 24h −0.005%

Price spread now: Bitget against QFEX+0.156%7-day average +0.054% · you sell dearer than you buy

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

Net, price: spread back to 7d avg − costs−$87as in the Price arb table

costs, in and out, $10k−$980.976% of the position

Long on QFEX Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.018%−$2 on $10k

Price spread, last 7 days−0.011%−$1 · spread now +0.156%, 7d avg +0.054%

Together, before fees−0.029%−$3 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Bitget is 0.102% dearer against QFEX than usual: you sell high and buy low (spread +0.156% now, against its 7-day average of +0.054%): +$10 on $10k if it goes back. Holding the pair costs −$23 a day in funding at the current rate, which eats that in about 11 hours. At the pace of the last 4 days (−0.018% in total) that is about 21 days.

The current funding rate is far above what this pair has been paying: over the last 4 days it paid -0.018% in total (about -1.8% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	QFEX BMNR-USD	27.490	0.0019	pay 0.0002% / 1h	43m 27s	$1.2M	$1.1M	10x
Short	Bitget BMNRUSDT	27.533	−0.0759	pay 0.0759% / 8h	1h 43m	$1.8M	$1.3M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against QFEX. 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 QFEXbpFee BitgetbpOrdersPrice spread, now +0.156%Rate

Funding earned: −$163.46
Price spread: +0.156% → +0.054%: $10.23
Slippage, 4 orders: −$75.6
Fee QFEX: 5 bp × 2 orders: −$10
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$250.83
Costs to cover: 0.976%
Break-even: never at this rate

Slippage from QFEX: live order book, 3 min ago; Bitget: 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 QFEX live order book, 3 min ago	3.64 bp	8.6 bp −$9	14.6 bp −$146	doesn't fit	doesn't fit
Sell Bitget live order book, 3 min ago	3.09 bp	49.9 bp −$50	doesn't fit	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
Bitget BMNRUSDTshort	−0.0759%	8h	27.533	+0.156%	$1.8M	$1.3M	20x
Vest BMNR-USD-PERP	−0.0004%	1h	27.460	−0.109%	—	$36K	25x	as long as short
Aster BMNRUSDT	0.0000%	8h	27.522	+0.117%	$49K	$101K	20x	as long as short
Extended BMNR-USD	0.0000%	1h	27.494	+0.015%	$61K	$491K	10x	as long as short
Binance BMNRUSDT	0.0000%	8h	27.512	+0.080%	$21.6M	$53.0M	25x	as long as short
Bybit BMNRUSDT	0.0000%	8h	27.508	+0.065%	$3.2M	$2.0M	25x	as long as short
OKX BMNR-USDT-SWAP	0.0000%	8h	27.520	+0.109%	$3.5M	$4.2M	20x	as long as short
Gate BMNR_USDT	0.0000%	8h	27.520	+0.109%	$4.1M	$8.6M	50x	as long as short
Variational Omni BMNR	0.0000%	8h	27.480	−0.036%	$223K	$607K	—	as long as short
GRVT BMNR_USDT_Perp	0.0000%	8h	27.520	+0.109%	$6K	$190K	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	27.541	+0.186%	$983	$864K	10x	as long as short
HTX BMNR-USDT	0.0000%	8h	27.559	+0.251%	$5K	$40K	20x	as long as short
Phemex BMNRUSDT	0.0000%	8h	27.500	+0.036%	$1.6M	$1.5M	10x	as long as short
BloFin BMNR-USDT	+0.0002%	8h	27.520	+0.109%	$207K	$51K	20x	as long as short
QFEX BMNR-USDlong	+0.0019%	1h	27.490	long leg	$1.2M	$1.1M	10x
Lighter BMNR	+0.0032%	1h	27.526	+0.131%	$344K	$52K	10x	as long as short
tradeXYZ xyz:BMNR	+0.0050%	1h	27.498	+0.029%	$904K	$1.4M	10x	as long as short
Ondo Perps BMNR-USD.P	+0.0050%	1h	27.530	+0.146%	$36K	$15K	5x	as long as short
KuCoin BMNRUSDTM	+0.0100%	8h	27.510	+0.073%	$672K	$731K	20x	as long as short
ApeX Omni BMNRUSDT	+0.0100%	1h	27.510	+0.073%	$24K	$29K	50x	as long as short