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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 00:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h −0.002%
Price spread now: Variational Omni against Extended+0.062%7-day average +0.029% · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Long on ExtendedShort on Variational Omni
What this pair did over the last
the charts below follow
Funding, last 3 days (all we have)−0.007%−$1 on $10k
Price spread, last 7 days−0.077%−$8 · spread now +0.062%, 7d avg +0.029%
Together, before fees−0.083%+ Points / potential airdropExtended: Active · Variational Omni: Active · farm board−$8 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: Variational Omni is 0.033% dearer against Extended than usual: you sell high and buy low, +$3 on $10k if it goes back to its 7-day average of +0.029%.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongExtended BTC-USD86,461.20.0104pay 0.0013% / 1h31m 39s$45.5M$227.3M50x
ShortVariational Omni BTC86,514.50.0100get 0.0100% / 8h31m 39s$157.4M$567.9M—

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Variational Omni against Extended. 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

Funding earned
−$0.84
Price spread: +0.062% → +0.029%
$3.31
Slippage, 4 orders
no order book: not counted
Fee Extended: 2.5 bp × 2 orders
−$5
Fee Variational Omni: 0 bp × 2 orders
$0
Net
−$2.53
Costs to cover
0.050%
Break-even
never at this rate
Slippage unknown: Extended: live order book, 3 min ago; Variational Omni: RFQ quote, 3 min ago. Net counts fees only.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy Extended live order book, 3 min ago0.06 bp2.6 bp −$32.6 bp −$262.6 bp −$2598.7 bp −$4,361
Sell Variational Omni RFQ quote, 3 min ago0.50 bpdoesn't fit0.6 bp −$63.2 bp −$319doesn'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
Phoenix BTC−0.0118%1h86,543+0.095%$2.2M$11.8M40xas long as short
Hotstuff BTC-PERP−0.0080%1h86,484+0.026%$9K$3K50xas long as short
Injective BTC/USDC PERP−0.0035%1h86,568+0.123%$333K$26.8M52xas long as short
RISEx BTC/USDC−0.0024%1h86,490.9+0.034%$8.3M$42.9M25xas long as short
01 Exchange BTCUSD−0.0016%1h86,502+0.047%$358K$2.5M50xas long as short
Aster BTCUSDT−0.0001%8h86,471.4+0.012%$501.5M$1.15B200xas long as short
Deribit BTC-PERPETUAL+0.0001%1h86,510.4+0.057%$915.1M$1.48B50xas long as short
gTrade (Gains Network) BTC/USDL +0.0005% / S −0.0004%1h86,512.2+0.059%$36.8M—200xas long as short
KuCoin XBTUSDTM+0.0016%8h86,472+0.012%$850.4M$715.5M125xas long as short
Reya BTCRUSDPERP+0.0030%1h86,493.5+0.037%$6.7M$145.4M40xas long as short
Show all 56 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
BingX BTC-USDT+0.0042%8h86,476.5+0.018%—$1.59B—as long as short
Phemex BTCUSDT+0.0049%8h86,484.3+0.027%$150.7M$478.6M150xas long as short
dYdX BTC-USD+0.0051%1h86,493.3+0.037%$17.0M$21.1M50xas long as short
Bitget BTCUSDT+0.0052%8h86,469+0.009%$2.96B$5.13B150xas long as short
MEXC BTC_USDT+0.0070%8h86,465.1+0.004%$5.16B$5.66B500xas long as short
Binance BTCUSDT+0.0071%8h86,465+0.004%$9.43B$24.57B150xas long as short
Aevo BTC-PERP+0.0072%1h86,462.6+0.002%$2.4M$1.3M20xas long as short
Gate BTC_USDT+0.0083%8h86,477.5+0.019%$5.87B$10.76B200xas long as short
SoDEX BTC-USD+0.0093%1h86,469+0.009%$60.5M$337.8M40xas long as short
Lighter BTC+0.0096%1h86,481+0.023%$170.3M$1.01B50xas long as short
Lighter RH BTC+0.0096%1h86,489.9+0.033%$24.0M$151.9M50xas long as short
Popdex BTCUSDT+0.0096%1h86,490+0.033%$8.5M$52.4M100xas long as short
Bybit BTCUSDT+0.0099%8h86,466.7+0.006%$5.26B$9.81B150xas long as short
Katana Perps BTC-USD+0.0100%8h86,458−0.004%$198K$7.0M50xas long as short
Paradex BTC-USD-PERP+0.0100%8h86,502.4+0.048%$4.8M$8.5M50xas long as short
Nado BTC-PERP+0.0100%1h86,484+0.026%$21.8M$234.7M50xas long as short
Hyperliquid BTC+0.0100%1h86,547+0.099%$3.80B$5.11B40xas long as short
Pacifica BTC+0.0100%1h86,507.6+0.054%$40.8M$527.8M50xas long as short
OKX BTC-USDT-SWAP+0.0100%8h86,480.1+0.022%$2.55B$12.73B100xas long as short
Ondo Perps BTC-USD.P+0.0100%1h86,490+0.033%$3.9M$18.7M25xas long as short
Arcus BTC-USD+0.0100%1h86,518.5+0.066%$7.6M$95.2M40xas long as short
Backpack BTC_USDC_PERP+0.0100%1h86,470.3+0.010%$38.2M$155.4M75xas long as short
Variational Omni BTCshort+0.0100%8h86,514.5+0.062%$157.4M$567.9M—
edgeX BTCUSDC+0.0100%4h86,535.4+0.086%$279.5M$947.1M100xas long as short
GRVT BTC_USDT_Perp+0.0100%8h86,546.5+0.099%$217.3M$171.6M50xas long as short
ApeX Omni BTCUSDT+0.0100%1h86,514.6+0.062%$141.4M$323.1M100xas long as short
StandX BTC-USD+0.0100%1h86,475.4+0.016%$30.7M$205.2M40xas long as short
Vest BTC-PERP+0.0100%1h86,535.1+0.085%—$11.9M50xas long as short
Polymarket Perps BTC-USD+0.0100%1h86,492+0.036%$11.1M$13.8M50xas long as short
Bullet BTC-USD+0.0100%1h86,494+0.038%$189K$3.3M20xas long as short
Orderly PERP_BTC_USDC+0.0100%8h86,496.1+0.040%$2.4M$9.0M100xas long as short
Bluefin BTC-PERP+0.0100%1h86,524.4+0.073%$140K$663K40xas long as short
Derive BTC-PERP+0.0100%1h86,508.8+0.055%$30.5M$62.6M15xas long as short
SunX BTC-USDT+0.0100%8h86,482.8+0.025%$3.4M$5.4M100xas long as short
HTX BTC-USDT+0.0100%8h86,470.1+0.010%$2.29B$969.8M200xas long as short
Bulk BTC-USD+0.0100%1h86,562.5+0.117%$572.7M$17.7M40xas long as short
Extended BTC-USDlong+0.0104%1h86,461.2long leg$45.5M$227.3M50x
Jupiter Perps WBTC-PERPL +0.0104% / S +0.0048%1h86,507.2+0.053%—$98.8M500xas long as short
Kraken Futures PF_XBTUSD+0.0110%1h86,500.3+0.045%$194.0M$952.2M100xas long as short
Perpl BTC+0.0112%43m86,501.1+0.046%$416K$23.1M6.7xas long as short
Coinbase International BTC-PERP-INTX+0.0112%1h86,518.8+0.067%$132.2M$5.66B50xas long as short
Aftermath Perps BTCUSD+0.0137%1h86,545.1+0.097%$79K$218K20xas long as short
BloFin BTC-USDT+0.0191%8h86,490.5+0.034%$415.4M$658.5M150xas long as short
Hibachi BTC/USDT-P+0.0192%1h86,523+0.071%$728K$8.1M30xas long as short
GMX BTC/USD [WBTC.b-USDC]L +0.0194% / S −0.0217%1h86,508.6+0.055%$15.0M—200xas long as short
Kalshi KXBTCPERP+0.0208%8h86,519+0.067%$9.7M$745.6M6.4xas long as short