Funding arb · Price arb /

ARB

all ARB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0166%/8h= −18.2% APRpaid last 24h −0.030%

Price spread now: Polymarket Perps against Phemex−0.045%7-day average −0.045% · you buy dearer than you sell

Net, funding: paid 7d − costs−$90as in the Funding arb table

Net, price: spread back to 7d avg − costs−$51as in the Price arb table

costs, in and out, $10k−$510.507% of the position

Long on Phemex Short on Polymarket Perps

What this pair did over the last

the charts below follow

Funding, last 7 days−0.397%−$40 on $10k

Price spread, last 4 days (all we have)−2.772%−$277 · spread now −0.045%, 7d avg −0.045%

Together, before fees−3.169%−$317 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.045%, so right now this pair is about funding alone: −$5 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex ARBUSDT	0.2222	0.0044	pay 0.0044% / 8h	5h 08m	$5.0M	$12.9M	50x
Short	Polymarket Perps ARB-USD	0.2221	−0.0122	pay 0.0015% / 1h	8m 14s	$87K	$2.1M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket Perps 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 Polymarket PerpsbpOrdersPrice spread, now −0.045%Rate

Funding earned: −$34.84
Price spread: −0.045% → −0.045%: −$0.04
Slippage, 4 orders: −$30.73
Fee Phemex: 6 bp × 2 orders: −$12
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: −$85.61
Costs to cover: 0.507%
Break-even: never at this rate

Slippage from Phemex: live order book, 6 min ago; Polymarket Perps: live order book, 6 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, 6 min ago	6.74 bp	18.5 bp −$18	32.5 bp −$325	doesn't fit	doesn't fit
Sell Polymarket Perps live order book, 6 min ago	2.24 bp	6.2 bp −$6	8.4 bp −$84	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	−0.1577%	1h	0.2218	−0.180%	$40K	$372K	12x	as long as short
Deribit ARB_USDC-PERPETUAL	−0.0155%	1h	0.2223	+0.027%	$24K	$34K	25x	as long as short
OKX ARB-USDT-SWAP	−0.0143%	8h	0.2220	−0.113%	$22.4M	$149.8M	50x	as long as short
MEXC ARB_USDT	−0.0142%	8h	0.2221	−0.041%	$38.2M	$59.4M	200x	as long as short
Variational Omni ARB	−0.0140%	8h	0.2223	+0.046%	$1.9M	$2.9M	—	as long as short
Polymarket Perps ARB-USDshort	−0.0122%	1h	0.2221	−0.045%	$87K	$2.1M	10x
01 Exchange ARBUSD	−0.0120%	1h	0.2220	−0.068%	$7K	$2K	10x	as long as short
Gate ARB_USDT	−0.0108%	8h	0.2222	−0.018%	$5.4M	$19.2M	60x	as long as short
Kraken Futures PF_ARBUSD	−0.0098%	1h	0.2223	+0.063%	$1.1M	$4.4M	50x	as long as short
SoDEX ARB-USD	−0.0091%	1h	0.2222	−0.014%	$10K	$2.3M	5x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Orderly PERP_ARB_USDC	−0.0075%	8h	0.2222	0.000%	$12K	$387K	10x	as long as short
Bybit ARBUSDT	−0.0070%	8h	0.2221	−0.027%	$56.6M	$125.9M	50x	as long as short
dYdX ARB-USD	0.0000%	1h	0.2222	+0.020%	$66K	$5K	10x	as long as short
gTrade (Gains Network) ARB/USD	L +0.0005% / S −0.0013%	1h	0.2223	+0.064%	$11K	—	150x	as long as short
Binance ARBUSDT	+0.0024%	8h	0.2222	+0.005%	$64.9M	$306.6M	75x	as long as short
Extended ARB-USD	+0.0024%	1h	0.2221	−0.041%	$353K	$2.5M	25x	as long as short
Phemex ARBUSDTlong	+0.0044%	8h	0.2222	long leg	$5.0M	$12.9M	50x
Bitget ARBUSDT	+0.0073%	8h	0.2222	0.000%	$21.2M	$34.6M	50x	as long as short
BingX ARB-USDT	+0.0078%	8h	0.2221	−0.036%	—	$53.8M	—	as long as short
Aevo ARB-PERP	+0.0088%	1h	0.2217	−0.236%	$141K	$7K	3x	as long as short
Lighter ARB	+0.0096%	1h	0.2222	+0.009%	$1.2M	$6.4M	15x	as long as short
Hyperliquid ARB	+0.0100%	1h	0.2222	+0.018%	$38.5M	$49.1M	10x	as long as short
Aster ARBUSDT	+0.0100%	8h	0.2223	+0.066%	$651K	$1.6M	20x	as long as short
Pacifica ARB	+0.0100%	1h	0.2221	−0.032%	$42K	$169K	10x	as long as short
KuCoin ARBUSDTM	+0.0100%	8h	0.2222	−0.005%	$19.6M	$15.3M	75x	as long as short
edgeX ARBUSDC	+0.0100%	4h	0.2224	+0.110%	$40K	$461K	20x	as long as short
GRVT ARB_USDT_Perp	+0.0100%	8h	0.2225	+0.136%	$482K	$3.6M	10x	as long as short
ApeX Omni ARBUSDT	+0.0100%	1h	0.2227	+0.225%	$120K	$283K	50x	as long as short
SunX ARB-USDT	+0.0100%	8h	0.2223	+0.045%	$1K	$1.1M	30x	as long as short
HTX ARB-USDT	+0.0100%	8h	0.2222	−0.014%	$302K	$939K	50x	as long as short
BloFin ARB-USDT	+0.0103%	8h	0.2221	−0.036%	$3.1M	$2.6M	75x	as long as short
Coinbase International ARB-PERP-INTX	+0.0224%	1h	0.2224	+0.090%	$498K	$2.0M	50x	as long as short
RISEx ARB/USDC	+0.0232%	1h	0.2222	+0.007%	$487K	$2.6M	10x	as long as short
GMX ARB/USD [ARB-USDC]	L +0.0273% / S −0.0155%	1h	0.2223	+0.037%	$829K	—	150x	as long as short
Reya ARBRUSDPERP	+0.0289%	1h	0.2221	−0.064%	$2K	$695	20x	as long as short
Backpack ARB_USDC_PERP	+0.0563%	1h	0.2224	+0.099%	$1.0M	$2.8M	20x	as long as short