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Funding arb · Price arb /

BTC

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Alert: funding
Measured
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Checked every minute; it has to hold two checks in a row. Delivery to Telegram comes later, so for now alerts appear on the alerts page.

Alert: spread
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Funding you earn now, next payment 23:00 UTC+0.0104%/8h= +11.4% APRpaid last 24h +0.008%
Price spread now: Bullet against Aster+0.008%53s7-day average +0.006% · 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—prices read too far apart to compare
costs, in and out, $10k−$180.180% of the position
Long on AsterShort on Bullet
What this pair did over the last
the charts below follow
Funding, last 3 days (all we have)+0.010%+$1 on $10k
Price spread, last 7 days+0.005%+$1 · spread now +0.008%, 7d avg +0.006%
Together, before fees+0.016%+ Points / potential airdropAster: Stage 5 · farm board+$2 on $10k · with fees, hour by hour
The price spread sits at its 7-day average of +0.006%, so right now this pair is about funding alone: +$3 a day on $10k at the current rate. The two prices were read 53 seconds apart, so part of this spread may be the market moving, not a spread.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongAster BTCUSDT86,648.1−0.0004get 0.0004% / 8h1h 54m$505.9M$1.16B200x
ShortBullet BTC-USD86,6550.0100get 0.0013% / 1h54m 33s$193K$3.4M20x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Bullet against Aster. 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
$21.83
Price spread: +0.008% → +0.006%
$0.21
Slippage, 4 orders
−$2.01
Fee Aster: 4 bp × 2 orders
−$8
Fee Bullet: 4 bp × 2 orders
−$8
Net
$4.03
Costs to cover
0.180%
Break-even
5.7 days
Slippage from Aster: live order book, 5 min ago; Bullet: live order book, 5 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 Aster live order book, 5 min ago0.01 bp4.2 bp −$44.3 bp −$435.7 bp −$5727.8 bp −$3,901
Sell Bullet live order book, 5 min ago0.06 bp5.4 bp −$58.5 bp −$85doesn't fitdoesn'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
Aftermath Perps BTCUSD−0.0223%1h86,631−0.020%$79K$197K20xas long as short
Phoenix BTC−0.0103%1h86,639−0.010%$2.2M$11.8M40xas long as short
Hotstuff BTC-PERP−0.0080%1h86,653+0.006%$9K$3K50xas long as short
dYdX BTC-USD−0.0032%1h86,684.5+0.042%$17.6M$20.6M50xas long as short
01 Exchange BTCUSD−0.0008%1h86,664.1+0.018%$359K$2.4M50xas long as short
Aster BTCUSDTlong−0.0004%8h86,648.1long leg$505.9M$1.16B200x
Perpl BTC0.0000%43m86,667.5+0.022%$422K$24.4M6.7xas long as short
Deribit BTC-PERPETUAL0.0000%1h86,668.5+0.024%$926.2M$1.47B50xas long as short
KuCoin XBTUSDTM+0.0004%8h86,647.6−0.001%$852.0M$709.6M125xas long as short
gTrade (Gains Network) BTC/USDL +0.0005% / S −0.0004%1h86,669.5+0.025%$36.9M—200xas long as short
Show all 56 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
RISEx BTC/USDC+0.0006%1h86,658.9+0.012%$8.5M$43.3M25xas long as short
Hibachi BTC/USDT-P+0.0008%1h86,625.8−0.026%$726K$8.1M30xas long as short
Reya BTCRUSDPERP+0.0022%1h86,661.6+0.016%$6.7M$144.6M40xas long as short
Injective BTC/USDC PERP+0.0024%1h86,587−0.071%$315K$26.8M52xas long as short
Phemex BTCUSDT+0.0030%8h86,642.6−0.006%$149.8M$473.0M150xas long as short
BingX BTC-USDC+0.0030%8h86,649.9+0.002%—$15.4M—as long as short
Bitget BTCUSDT+0.0038%8h86,655.5+0.009%$2.95B$5.09B150xas long as short
Aevo BTC-PERP+0.0056%1h86,646.5−0.002%$2.4M$1.3M20xas long as short
MEXC BTC_USDT+0.0059%8h86,649+0.001%$5.19B$5.61B500xas long as short
Binance BTCUSDT+0.0060%8h86,640.7−0.009%$9.43B$24.38B150xas long as short
Gate BTC_USDT+0.0083%8h86,652.8+0.005%$5.86B$10.61B200xas long as short
Nado BTC-PERP+0.0085%1h86,609.6−0.044%$21.6M$234.6M50xas long as short
Bybit BTCUSDT+0.0087%8h86,633−0.017%$5.27B$9.74B150xas long as short
SoDEX BTC-USD+0.0088%1h86,640−0.009%$60.5M$336.7M40xas long as short
Lighter BTC+0.0096%1h86,674.3+0.030%$172.2M$996.8M50xas long as short
Lighter RH BTC+0.0096%1h86,683.9+0.041%$24.1M$151.5M50xas long as short
Popdex BTCUSDT+0.0096%1h86,644−0.005%$8.5M$52.3M100xas long as short
Katana Perps BTC-USD+0.0100%8h86,643−0.006%$201K$6.9M50xas long as short
Paradex BTC-USD-PERP+0.0100%8h86,698.1+0.058%$4.8M$8.3M50xas long as short
Hyperliquid BTC+0.0100%1h86,735+0.100%$3.82B$5.08B40xas long as short
Pacifica BTC+0.0100%1h86,697.7+0.057%$41.1M$499.4M50xas long as short
OKX BTC-USDT-SWAP+0.0100%8h86,627.5−0.024%$2.55B$12.74B100xas long as short
Ondo Perps BTC-USD.P+0.0100%1h86,643−0.006%$3.9M$18.6M25xas long as short
Arcus BTC-USD+0.0100%1h86,724.9+0.089%$7.4M$94.0M40xas long as short
Bulk BTC-USD+0.0100%1h86,590.2−0.067%$572.1M$20.3M40xas long as short
Backpack BTC_USDC_PERP+0.0100%1h86,646.8−0.001%$38.3M$152.9M75xas long as short
Variational Omni BTC+0.0100%8h86,582.6−0.076%$156.4M$568.8M—as long as short
edgeX BTCUSDC+0.0100%4h86,554.6−0.108%$279.5M$940.9M100xas long as short
GRVT BTC_USDT_Perp+0.0100%8h86,561−0.100%$217.2M$183.6M50xas long as short
ApeX Omni BTCUSDT+0.0100%1h86,556.4−0.106%$141.5M$322.9M100xas long as short
StandX BTC-USD+0.0100%1h86,556−0.106%$30.7M$203.1M40xas long as short
Vest BTC-PERP+0.0100%1h86,694.7+0.054%—$11.6M50xas long as short
Polymarket Perps BTC-USD+0.0100%1h86,667+0.022%$11.1M$13.8M50xas long as short
Bullet BTC-USDshort+0.0100%1h86,655+0.008%$193K$3.4M20x
Orderly PERP_BTC_USDC+0.0100%8h86,651.1+0.003%$2.5M$8.6M100xas long as short
Bluefin BTC-PERP+0.0100%1h86,665.4+0.020%$141K$618K40xas long as short
Derive BTC-PERP+0.0100%1h86,638.5−0.011%$30.0M$61.6M15xas long as short
SunX BTC-USDT+0.0100%8h86,624.2−0.028%$3.4M$5.5M100xas long as short
HTX BTC-USDT+0.0100%8h86,645.2−0.003%$2.30B$960.5M200xas long as short
Extended BTC-USD+0.0104%1h86,643.2−0.006%$46.4M$226.5M50xas long as short
Jupiter Perps WBTC-PERPL +0.0104% / S +0.0048%1h86,639.5−0.010%—$98.9M500xas long as short
Coinbase International BTC-PERP-INTX+0.0112%1h86,677.8+0.034%$131.8M$5.81B50xas long as short
Kraken Futures PF_XBTUSD+0.0121%1h86,676.4+0.033%$191.5M$937.5M100xas long as short
BloFin BTC-USDT+0.0180%8h86,642.7−0.006%$417.2M$655.6M150xas long as short
GMX BTC/USD [WBTC.b-USDC]L +0.0180% / S −0.0210%1h86,667.5+0.022%$15.0M—200xas long as short
Kalshi KXBTCPERP+0.0183%8h86,663+0.017%$9.7M$726.6M6.4xas long as short