Funding arb · Price arb /

CXMT

RWAall CXMT markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.2243%/8h= +245.6% APRpaid last 24h +0.084%

Price spread now: Popdex against Binance+0.023%7-day average −0.041% · 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−$46as in the Price arb table

costs, in and out, $10k−$530.529% of the position

Long on Binance Short on Popdex

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.126%+$13 on $10k

Price spread, last 4 days (all we have)−0.075%−$7 · spread now +0.023%, 7d avg −0.041%

Together, before fees+0.052%+$5 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$67 a day on $10k at the current rate, and Popdex is 0.064% dearer against Binance than usual: you sell high and buy low: +$6 more if the spread goes back to its 7-day average of −0.041%.

The current funding rate is far above what this pair has been paying: over the last 4 days it paid 0.126% in total (about 12.5% 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	Binance CXMTUSDT	8.5800	−0.4587	get 0.2294% / 4h	1h 41m	$4.2M	$9.3M	20x
Short	Popdex CXMTUSDT	8.5820	−0.2344	pay 0.0293% / 1h	41m 56s	$2K	$116K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Popdex against Binance. 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 BinancebpFee PopdexbpOrdersPrice spread, now +0.023%Rate

Funding earned: $471.11
Price spread: +0.023% → −0.041%: $6.42
Slippage, 4 orders: −$36.49
Fee Binance: 5 bp × 2 orders: −$10
Fee Popdex: 3.2 bp × 2 orders: −$6.4
Net: $424.64
Costs to cover: 0.529%
Break-even: 0.7 days

Slippage from Binance: live order book, 13 min ago; Popdex: 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 Binance live order book, 13 min ago	1.16 bp	14.1 bp −$14	52.5 bp −$525	doesn't fit	doesn't fit
Sell Popdex live order book, 2 min ago	2.33 bp	12.5 bp −$12	doesn't fit	doesn't fit	doesn't fit

CXMT on 16 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
Binance CXMTUSDTlong	−0.4587%	4h	8.5800	long leg	$4.2M	$9.3M	20x
OKX CXMT-USDT-SWAP	−0.4078%	8h	8.5830	+0.035%	$1.3M	$5.4M	20x	as long as short
Bybit CXMTUSDT	−0.4077%	8h	8.5830	+0.035%	$1.1M	$1.1M	20x	as long as short
Bitget CXMTUSDT	−0.3595%	8h	8.5810	+0.012%	$620K	$851K	20x	as long as short
Aster CXMTUSDT	−0.3057%	8h	8.6090	+0.338%	$138K	$87K	20x	as long as short
Gate CXMT_USDT	−0.2616%	1h	8.5600	−0.233%	$5.7M	$13.4M	50x	as long as short
Polymarket Perps CXMT-USD	−0.2432%	1h	8.5769	−0.036%	$8K	$51K	10x	as long as short
Popdex CXMTUSDTshort	−0.2344%	1h	8.5820	+0.023%	$2K	$116K	20x
tradeXYZ xyz:CXMT	−0.2289%	1h	8.5748	−0.061%	$55.9M	$9.8M	10x	as long as short
Ondo Perps CXMT-USD.P	−0.1744%	1h	8.5766	−0.040%	$29K	$33K	10x	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SoDEX CXMT-USD	−0.1348%	1h	8.5754	−0.054%	$228K	$9K	5x	as long as short
SunX CXMT-USDT	−0.1185%	4h	8.5855	+0.064%	$84	$2.4M	10x	as long as short
Lighter CXMT	−0.0536%	1h	8.5843	+0.050%	$101K	$18K	5x	as long as short
edgeX CXMTUSDC	−0.0028%	4h	8.5743	−0.067%	$434K	$243K	10x	as long as short
ApeX Omni CXMTUSDT	−0.0012%	1h	8.5800	0.000%	$8K	$251K	50x	as long as short
HTX CXMT-USDT	0.0000%	4h	8.6535	+0.857%	$32K	$39K	10x	as long as short