Funding arb · Price arb /

NAS100

RWAall NAS100 markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0050%/8h= −5.5% APRpaid last 24h −0.015%

Price spread now: Phemex against Polymarket Perps−0.109%7-day average −0.175% · you buy dearer than you sell

Net, funding: paid 7d − costs−$60as in the Funding arb table

Net, price: spread back to 7d avg − costs−$42as in the Price arb table

costs, in and out, $10k−$490.487% of the position

Long on Polymarket Perps Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days−0.117%−$12 on $10k

Price spread, last 4 days (all we have)+0.032%+$3 · spread now −0.109%, 7d avg −0.175%

Together, before fees−0.086%−$9 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Phemex is 0.066% dearer against Polymarket Perps than usual: you sell high and buy low (spread −0.109% now, against its 7-day average of −0.175%): +$7 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 4.4 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Polymarket Perps NAS100-USD	30,578	0.0050	pay 0.0006% / 1h	11m 16s	$7.2M	$1.9M	50x
Short	Phemex NAS100USDT	30,544.7	0	get 0.0000% / 4h	11m 16s	$1.4M	$183K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex 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 PhemexbpOrdersPrice spread, now −0.109%Rate

Funding earned: −$10.5
Price spread: −0.109% → −0.175%: $6.63
Slippage, 4 orders: −$28.66
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$52.53
Costs to cover: 0.487%
Break-even: never at this rate

Slippage from Polymarket Perps: live order book, 3 min ago; Phemex: 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 Polymarket Perps live order book, 3 min ago	0.65 bp	4.9 bp −$5	5.3 bp −$53	6.0 bp −$599	11.6 bp −$5,784
Sell Phemex live order book, 2 min ago	5.50 bp	21.4 bp −$21	doesn't fit	doesn't fit	doesn't fit

NAS100 on 15 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
Orderly PERP_NAS100_USDC	−0.0212%	8h	30,565.2	−0.042%	$102K	$38K	20x	as long as short
Gate NAS100_USDT	−0.0200%	8h	30,544.7	−0.109%	$1.9M	$3.7M	100x	as long as short
MEXC NAS100_USDT	−0.0106%	8h	30,578	0.000%	$24.8M	$19.7M	200x	as long as short
OKX US100-USDT-SWAP	0.0000%	8h	30,534	−0.144%	$262K	$379K	20x	as long as short
Bitget NDX100USDT	0.0000%	8h	30,557	−0.069%	$3.5M	$633K	50x	as long as short
Bullet US100-USD	0.0000%	1h	30,578.3	+0.001%	$2K	$90K	10x	as long as short
Phemex NAS100USDTshort	0.0000%	4h	30,544.7	−0.109%	$1.4M	$183K	10x
QFEX US100-USD	+0.0001%	1h	30,576	−0.007%	$1.3M	$1.4M	30x	as long as short
Lighter US100	+0.0032%	1h	30,572	−0.020%	$3.9M	$96.2M	30x	as long as short
Extended TECH100m-USD	+0.0032%	1h	30,577.8	−0.001%	$2.0M	$5.7M	20x	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Vest NDX-USD-PERP	+0.0046%	1h	30,867	+0.945%	—	$199.1M	50x	as long as short
Paradex US100-USD-PERP	+0.0050%	8h	30,571.9	−0.020%	—	—	5x	as long as short
Polymarket Perps NAS100-USDlong	+0.0050%	1h	30,578	long leg	$7.2M	$1.9M	50x
Ondo Perps US100-USD.P	+0.0118%	1h	30,586.1	+0.026%	$6.0M	$8.5M	25x	as long as short
Kraken Futures PF_US100USD	+0.2793%	1h	30,653.9	+0.248%	$131K	$127K	20x	as long as short