Funding arb · Price arb /

BMNR

RWAall BMNR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0012%/8h= −1.3% APRpaid last 24h −0.006%

Price spread now: Phemex against QFEX+0.072%7-day average −0.014% · 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−$93as in the Price arb table

costs, in and out, $10k−$1021.016% of the position

Long on QFEX Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.013%−$1 on $10k

Price spread, last 4 days (all we have)−0.572%−$57 · spread now +0.072%, 7d avg −0.014%

Together, before fees−0.585%−$58 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Phemex is 0.086% dearer against QFEX than usual: you sell high and buy low (spread +0.072% now, against its 7-day average of −0.014%): +$9 on $10k if it goes back. Holding the pair costs $0 a day in funding at the current rate, which eats that in about 23 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	QFEX BMNR-USD	27.740	0.0012	pay 0.0002% / 1h	46m 14s	$1.2M	$1.2M	10x
Short	Phemex BMNRUSDT	27.760	0	get 0.0000% / 8h	5h 46m	$1.6M	$1.5M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex 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 PhemexbpOrdersPrice spread, now +0.072%Rate

Funding earned: −$2.57
Price spread: +0.072% → −0.014%: $8.59
Slippage, 4 orders: −$79.6
Fee QFEX: 5 bp × 2 orders: −$10
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$95.58
Costs to cover: 1.016%
Break-even: never at this rate

Slippage from QFEX: live order book, 5 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 QFEX live order book, 5 min ago	1.80 bp	10.4 bp −$10	14.9 bp −$149	doesn't fit	doesn't fit
Sell Phemex live order book, 2 min ago	1.80 bp	39.6 bp −$40	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 BMNRUSDT	−0.0760%	8h	27.774	+0.123%	$1.9M	$929K	20x	as long as short
Aster BMNRUSDT	0.0000%	8h	27.783	+0.156%	$50K	$100K	20x	as long as short
Extended BMNR-USD	0.0000%	1h	27.754	+0.049%	$52K	$634K	10x	as long as short
Binance BMNRUSDT	0.0000%	8h	27.760	+0.072%	$22.0M	$52.7M	25x	as long as short
Bybit BMNRUSDT	0.0000%	8h	27.756	+0.058%	$3.2M	$1.9M	25x	as long as short
OKX BMNR-USDT-SWAP	0.0000%	8h	27.750	+0.036%	$3.5M	$4.3M	20x	as long as short
Gate BMNR_USDT	0.0000%	8h	27.760	+0.072%	$4.2M	$9.5M	50x	as long as short
Variational Omni BMNR	0.0000%	8h	27.820	+0.287%	$317K	$497K	—	as long as short
GRVT BMNR_USDT_Perp	0.0000%	8h	27.825	+0.305%	$6K	$175K	10x	as long as short
SunX BMNR-USDT	0.0000%	8h	27.783	+0.155%	$1K	$892K	10x	as long as short

Show all 20 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX BMNR-USDT	0.0000%	8h	27.740	0.000%	$5K	$40K	20x	as long as short
Phemex BMNRUSDTshort	0.0000%	8h	27.760	+0.072%	$1.6M	$1.5M	10x
QFEX BMNR-USDlong	+0.0012%	1h	27.740	long leg	$1.2M	$1.2M	10x
BloFin BMNR-USDT	+0.0025%	8h	27.780	+0.144%	—	$61K	20x	as long as short
Lighter BMNR	+0.0032%	1h	27.775	+0.126%	$349K	$53K	10x	as long as short
Vest BMNR-USD-PERP	+0.0046%	1h	27.730	−0.036%	—	$36K	25x	as long as short
tradeXYZ xyz:BMNR	+0.0050%	1h	27.754	+0.050%	$924K	$1.5M	10x	as long as short
Ondo Perps BMNR-USD.P	+0.0050%	1h	27.780	+0.144%	$36K	$15K	5x	as long as short
KuCoin BMNRUSDTM	+0.0100%	8h	27.750	+0.036%	$678K	$807K	20x	as long as short
ApeX Omni BMNRUSDT	+0.0100%	1h	27.800	+0.216%	$24K	$29K	50x	as long as short