About arb.sh

What arb.sh is

arb.sh tracks the perpetual futures market across 62 exchanges — 46 decentralized and 16 centralized — covering 13,969 markets on 2,470 assets. It answers three questions: where an asset trades, where funding pays, and what a position actually costs to open. It is free, needs no account and has no API key.

Where the numbers come from

Every figure is read from the exchange's own public API — its tickers, funding endpoints, open-interest endpoints and order books — and never from another aggregator. Nothing on this site is copied from a competitor, so when a number here disagrees with one elsewhere, the exchange's own response is the tiebreaker. Funding, open interest and prices refresh every 10 to 60 seconds depending on how fast the exchange publishes; the header of every page carries the UTC timestamp of the snapshot behind it.

Settled funding is recorded as it happens and kept without a 30-day ceiling, including for exchanges that publish no funding history at all. For those venues the history on this site starts the day we began recording it and grows from there.

What "net" means

A funding spread is worth nothing until it survives the cost of getting in. Net last 7d is the funding a pair actually settled over the last seven days, minus the taker fee and the order-book slippage of opening and closing both legs at the position size you pick in Settings. Slippage is measured by walking the live order book of each market, not assumed. When a leg has less than seven days of funding history the cell is left empty rather than filled with a partial figure.

What "paid" and "APR" mean

Paid always means funding that settled and changed hands, counted as whole payments to a position open at that moment — not the rate an exchange is currently advertising. A funding rate is shown per interval, the way the exchange quotes it, and the interval is stated. APR is that rate annualized and is labelled as such wherever it appears. Nothing on this site is a forecast or a projection.

What this site does not do

• It does not annualize a spread into a headline. The current rate per interval is what you see first.
• It does not print zero for a number it has not observed. Missing data renders as a dash.
• It does not rank exchanges by self-reported open interest alone; the checks on each exchange page say how trustworthy its reporting looks.
• It does not execute trades, hold funds, track portfolios or give advice. It is a table of public numbers.

Known limits

• Order-book slippage cannot be measured on venues that quote request-for-quote sizes instead of a book; those cells stay empty.
• Some exchanges label an asset differently from everyone else. Assets are matched by comparing live prices, and the known exceptions are corrected by hand.
• Backtests use settled funding and recorded prices; they show what a pair did, which is not what it will do.
• Figures move every minute. A page that has been open for a while shows a banner saying its numbers may be stale.

How the site is funded

Some Trade buttons are referral links to the exchange. They are marked as sponsored links, the disclosure sits in the footer of every page, and a referral deal never changes a ranking, a rate or a cost figure — those come from the API regardless of who pays. Rankings are sorted by the number in the column, and you can sort by any other column yourself.

Start here

• Funding arbitrage — exchange pairs ranked by spread and by what is left after costs.
• Entry cost — taker fee plus measured slippage, by exchange.
• Backtest — what a pair would have made, with every cost line itemised.
• Exchanges — volume, open interest and the data checks for each venue.