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Funding arb · Price arb /

BTC

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Alert: funding
Measured
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Alert: spread
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Funding you earn now, next payment 22:00 UTC+0.0001%/8h= +0.1% APRnext payment +$0.00 per $10,000 · paid last 24h −0.015%
Price spread now: Injective against Aevo+0.133%7-day average +0.033% · you sell dearer than you buy
Net, funding: paid 7d − costs−$27as in the Funding arb table
Net, price: spread back to 7d avg − costs−$18as in the Price arb table
costs, in and out, $10k−$280.276% of the position
Long on AevoShort on Injective
What this pair did over the last
the charts below follow
Funding, last 7 days+0.002%$0 on $10k
Price spread, last 3 days (all we have)−0.154%−$15 · spread now +0.133%, 7d avg +0.033%
Together, before fees−0.152%−$15 on $10k · with fees, hour by hour
Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Injective is 0.100% dearer against Aevo than usual: you sell high and buy low, +$10 on $10k if it goes back to its 7-day average of +0.033%.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongAevo BTC-PERP86,616.50.0048pay 0.0006% / 1h46m 28s$2.4M$1.3M20x
ShortInjective BTC/USDC PERP86,7320.0049get 0.0006% / 1h46m 28s$315K$26.8M52x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Injective against Aevo. Falling: the short leg gains. Rising: it loses.
latest
Price spreadloading…

Funding on every exchange

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latest
How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Funding earned
$0.22
Price spread: +0.133% → +0.033%
$10
Slippage, 4 orders
−$11.57
Fee Aevo: 8 bp × 2 orders
−$16
Fee Injective: 0.01 bp × 2 orders
−$0.02
Net
−$17.37
Costs to cover
0.276%
Break-even
556.5 days
Slippage from Aevo: live order book, 3 min ago; Injective: live order book, 3 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy Aevo live order book, 3 min ago1.33 bp9.4 bp −$912.0 bp −$12015.9 bp −$1,590doesn't fit
Sell Injective live order book, 3 min ago3.41 bp3.8 bp −$412.8 bp −$128631.2 bp −$63.1Kdoesn't fit

BTC on 56 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Perpl BTC−0.0335%43m86,626.3+0.011%$432K$25.1M6.7xas long as short
Aftermath Perps BTCUSD−0.0208%1h86,662+0.053%$85K$188K20xas long as short
dYdX BTC-USD−0.0105%1h86,651.2+0.040%$18.0M$20.0M50xas long as short
Phoenix BTC−0.0103%1h86,579−0.043%$2.2M$12.4M40xas long as short
Hotstuff BTC-PERP−0.0080%1h86,620+0.004%$9K$3K50xas long as short
KuCoin XBTUSDTM−0.0002%8h86,600−0.019%$846.4M$707.8M125xas long as short
01 Exchange BTCUSD0.0000%1h86,643.5+0.031%$361K$2.5M50xas long as short
Deribit BTC-PERPETUAL0.0000%1h86,643.1+0.031%$938.7M$1.42B50xas long as short
gTrade (Gains Network) BTC/USDL +0.0005% / S −0.0005%1h86,631+0.017%$36.6M—200xas long as short
Aster BTCUSDT+0.0012%8h86,601.1−0.018%$505.6M$1.16B200xas long as short
Show all 56 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
BingX BTC-USDC+0.0020%8h86,600.2−0.019%—$15.3M—as long as short
Reya BTCRUSDPERP+0.0021%1h86,602.6−0.016%$6.7M$144.0M40xas long as short
Phemex BTCUSDT+0.0026%8h86,606.6−0.011%$149.6M$470.6M150xas long as short
Bitget BTCUSDT+0.0027%8h86,597.2−0.022%$2.95B$5.07B150xas long as short
MEXC BTC_USDT+0.0048%8h86,605.3−0.013%$5.19B$5.64B500xas long as short
Aevo BTC-PERPlong+0.0048%1h86,616.5long leg$2.4M$1.3M20x
Binance BTCUSDT+0.0049%8h86,603.8−0.015%$9.43B$24.29B150xas long as short
Injective BTC/USDC PERPshort+0.0049%1h86,732+0.133%$315K$26.8M52x
OKX BTC-USDT-SWAP+0.0062%8h86,600−0.019%$2.57B$12.69B100xas long as short
RISEx BTC/USDC+0.0063%1h86,639.7+0.027%$9.2M$42.1M25xas long as short
Gate BTC_USDT+0.0066%8h86,605.1−0.013%$5.86B$10.58B200xas long as short
Bybit BTCUSDT+0.0079%8h86,595−0.025%$5.28B$9.65B150xas long as short
Variational Omni BTC+0.0088%8h86,626.8+0.012%$159.8M$564.2M—as long as short
Lighter BTC+0.0096%1h86,634.6+0.021%$171.8M$1.01B50xas long as short
Lighter RH BTC+0.0096%1h86,641+0.028%$24.0M$152.9M50xas long as short
Popdex BTCUSDT+0.0096%1h86,619+0.003%$8.5M$52.0M100xas long as short
GRVT BTC_USDT_Perp+0.0097%8h86,590−0.031%$217.4M$189.0M50xas long as short
Orderly PERP_BTC_USDC+0.0099%8h86,615.1−0.002%$2.5M$8.5M100xas long as short
Paradex BTC-USD-PERP+0.0100%8h86,672.7+0.065%$4.8M$8.2M50xas long as short
Katana Perps BTC-USD+0.0100%8h86,608−0.010%$200K$6.8M50xas long as short
Nado BTC-PERP+0.0100%1h86,623.5+0.008%$21.7M$235.9M50xas long as short
Hyperliquid BTC+0.0100%1h86,680+0.073%$3.83B$5.10B40xas long as short
Pacifica BTC+0.0100%1h86,653.4+0.043%$41.0M$485.8M50xas long as short
Ondo Perps BTC-USD.P+0.0100%1h86,621+0.005%$3.9M$18.6M25xas long as short
Arcus BTC-USD+0.0100%1h86,691.5+0.087%$7.4M$94.3M40xas long as short
Bulk BTC-USD+0.0100%1h86,665+0.056%$572.2M$23.5M40xas long as short
Backpack BTC_USDC_PERP+0.0100%1h86,610.2−0.007%$38.2M$148.1M75xas long as short
edgeX BTCUSDC+0.0100%4h86,590.7−0.030%$279.7M$948.0M100xas long as short
ApeX Omni BTCUSDT+0.0100%1h86,636.4+0.023%$141.8M$322.7M100xas long as short
StandX BTC-USD+0.0100%1h86,613.9−0.003%$30.8M$205.7M40xas long as short
Vest BTC-PERP+0.0100%1h86,671.6+0.064%—$11.6M50xas long as short
Polymarket Perps BTC-USD+0.0100%1h86,612−0.005%$11.0M$13.7M50xas long as short
Bullet BTC-USD+0.0100%1h86,607.9−0.010%$198K$3.4M20xas long as short
Bluefin BTC-PERP+0.0100%1h86,623.5+0.008%$141K$619K40xas long as short
Derive BTC-PERP+0.0100%1h86,614.1−0.003%$30.0M$61.5M15xas long as short
SunX BTC-USDT+0.0100%8h86,600.3−0.019%$3.4M$5.6M100xas long as short
SoDEX BTC-USD+0.0100%1h86,602−0.017%$60.4M$336.5M40xas long as short
HTX BTC-USDT+0.0100%8h86,604.4−0.014%$2.30B$955.5M200xas long as short
Extended BTC-USD+0.0104%1h86,608.8−0.009%$46.6M$229.1M50xas long as short
Jupiter Perps WBTC-PERPL +0.0104% / S +0.0048%1h86,646.7+0.035%—$98.0M500xas long as short
Kalshi KXBTCPERP+0.0109%8h86,642+0.029%$8.8M$722.8M6.4xas long as short
Kraken Futures PF_XBTUSD+0.0117%1h86,641.1+0.028%$191.5M$927.4M100xas long as short
Coinbase International BTC-PERP-INTX+0.0120%1h86,654+0.043%$131.9M$5.88B50xas long as short
BloFin BTC-USDT+0.0168%8h86,618.6+0.002%$418.8M$642.0M150xas long as short
GMX BTC/USD [WBTC.b-USDC]L +0.0181% / S −0.0198%1h86,626.3+0.011%$15.4M—200xas long as short
Hibachi BTC/USDT-P+0.0208%1h86,644.2+0.032%$600K$7.2M30xas long as short