Settings8H · net · $10k
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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 00:00 UTC−0.0045%/8h= −5.0% APRnext payment −$0.45 per $10,000 · paid last 24h +0.009%
Price spread now: Aster against Phemex+0.004%7-day average +0.003% · you sell dearer than you buy
Net, funding: paid 7d − costs−$18as in the Funding arb table
Net, price: spread back to 7d avg − costs−$20as in the Price arb table
costs, in and out, $10k−$200.203% of the position
Long on PhemexShort on Aster
What this pair did over the last
the charts below follow
Funding, last 7 days+0.022%+$2 on $10k
Price spread, last 3 days (all we have)+0.021%+$2 · spread now +0.004%, 7d avg +0.003%
Together, before fees+0.043%+ Points / potential airdropAster: Stage 5 · farm board+$4 on $10k · with fees, hour by hour
The price spread sits at its 7-day average of +0.003%, so right now this pair is about funding alone: −$1 a day on $10k at the current rate.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongPhemex BTCUSDT86,4740.0055pay 0.0055% / 8h8m 39s$151.0M$478.6M150x
ShortAster BTCUSDT86,477.70.0009get 0.0009% / 8h8m 39s$501.6M$1.15B200x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Aster against Phemex. 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
−$9.54
Price spread: +0.004% → +0.003%
$0.16
Slippage, 4 orders
−$0.28
Fee Phemex: 6 bp × 2 orders
−$12
Fee Aster: 4 bp × 2 orders
−$8
Net
−$29.67
Costs to cover
0.203%
Break-even
never at this rate
Slippage from Phemex: live order book, 6 min ago; Aster: live order book, 6 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 Phemex live order book, 6 min ago0.01 bp6.0 bp −$66.1 bp −$618.0 bp −$796doesn't fit
Sell Aster live order book, 6 min ago0.01 bp4.0 bp −$44.0 bp −$405.1 bp −$5158.4 bp −$4,211

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%1h86,444−0.035%$2.2M$11.8M40xas long as short
Hotstuff BTC-PERP−0.0080%1h86,460−0.016%$9K$3K50xas long as short
Injective BTC/USDC PERP−0.0035%1h86,345−0.149%$332K$26.9M52xas long as short
RISEx BTC/USDC−0.0024%1h86,493.6+0.023%$8.3M$42.7M25xas long as short
01 Exchange BTCUSD−0.0016%1h86,480.4+0.007%$358K$2.4M50xas long as short
Perpl BTC0.0000%43m86,474.20.000%$413K$22.4M6.7xas long as short
gTrade (Gains Network) BTC/USDL +0.0005% / S −0.0005%1h86,499.1+0.029%$36.8M—200xas long as short
Aster BTCUSDTshort+0.0009%8h86,477.7+0.004%$501.6M$1.15B200x
KuCoin XBTUSDTM+0.0022%8h86,475.4+0.002%$834.3M$728.6M125xas long as short
Reya BTCRUSDPERP+0.0036%1h86,471.1−0.003%$6.7M$145.5M40xas long as short
Show all 56 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
BingX BTC-USDT+0.0043%8h86,476.2+0.003%—$1.59B—as long as short
Phemex BTCUSDTlong+0.0055%8h86,474long leg$151.0M$478.6M150x
Bitget BTCUSDT+0.0055%8h86,471.1−0.003%$2.97B$5.13B150xas long as short
dYdX BTC-USD+0.0063%1h86,456.7−0.020%$16.9M$21.2M50xas long as short
Aevo BTC-PERP+0.0072%1h86,469.6−0.005%$2.5M$1.4M20xas long as short
MEXC BTC_USDT+0.0073%8h86,473.3−0.001%$5.16B$5.69B500xas long as short
Binance BTCUSDT+0.0074%8h86,473.1−0.001%$9.44B$24.55B150xas long as short
Gate BTC_USDT+0.0082%8h86,478.8+0.006%$5.85B$10.81B200xas long as short
Lighter BTC+0.0096%1h86,485.7+0.014%$170.2M$1.02B50xas long as short
Lighter RH BTC+0.0096%1h86,490.9+0.020%$23.9M$152.8M50xas long as short
Popdex BTCUSDT+0.0096%1h86,453−0.024%$8.5M$52.3M100xas long as short
Bybit BTCUSDT+0.0099%8h86,477.5+0.004%$5.26B$9.79B150xas long as short
Katana Perps BTC-USD+0.0100%8h86,462−0.014%$197K$7.1M50xas long as short
Paradex BTC-USD-PERP+0.0100%8h86,514.8+0.047%$4.8M$8.5M50xas long as short
Nado BTC-PERP+0.0100%1h86,454.3−0.023%$21.8M$234.1M50xas long as short
Hyperliquid BTC+0.0100%1h86,545+0.082%$3.79B$5.10B40xas long as short
Pacifica BTC+0.0100%1h86,507.7+0.039%$41.1M$538.1M50xas long as short
OKX BTC-USDT-SWAP+0.0100%8h86,478.6+0.005%$2.55B$12.73B100xas long as short
Ondo Perps BTC-USD.P+0.0100%1h86,473−0.001%$3.9M$18.4M25xas long as short
Arcus BTC-USD+0.0100%1h86,512.2+0.044%$7.3M$95.9M40xas long as short
Backpack BTC_USDC_PERP+0.0100%1h86,474.8+0.001%$38.0M$156.0M75xas long as short
Variational Omni BTC+0.0100%8h86,407.7−0.077%$157.0M$567.1M—as long as short
edgeX BTCUSDC+0.0100%4h86,408.7−0.076%$279.1M$946.0M100xas long as short
GRVT BTC_USDT_Perp+0.0100%8h86,429.2−0.052%$217.0M$172.4M50xas long as short
ApeX Omni BTCUSDT+0.0100%1h86,423.1−0.059%$141.3M$323.1M100xas long as short
StandX BTC-USD+0.0100%1h86,460.1−0.016%$30.7M$206.5M40xas long as short
Vest BTC-PERP+0.0100%1h86,499.5+0.030%—$11.9M50xas long as short
Polymarket Perps BTC-USD+0.0100%1h86,465−0.010%$11.1M$14.0M50xas long as short
Bullet BTC-USD+0.0100%1h86,481.3+0.008%$193K$3.3M20xas long as short
Orderly PERP_BTC_USDC+0.0100%8h86,479.4+0.006%$2.5M$9.4M100xas long as short
Bluefin BTC-PERP+0.0100%1h86,517.8+0.051%$141K$664K40xas long as short
Derive BTC-PERP+0.0100%1h86,513.7+0.046%$30.5M$62.6M15xas long as short
SunX BTC-USDT+0.0100%8h86,448.1−0.030%$3.4M$5.3M100xas long as short
SoDEX BTC-USD+0.0100%1h86,475+0.001%$60.5M$338.1M40xas long as short
HTX BTC-USDT+0.0100%8h86,461.5−0.014%$2.29B$968.2M200xas long as short
Bulk BTC-USD+0.0100%1h86,452.9−0.024%$572.2M$12.3M40xas long as short
Extended BTC-USD+0.0104%1h86,452.6−0.025%$45.7M$225.6M50xas long as short
Jupiter Perps WBTC-PERPL +0.0104% / S +0.0048%1h86,468.3−0.007%—$100.0M500xas long as short
Kraken Futures PF_XBTUSD+0.0110%1h86,503+0.034%$192.9M$953.2M100xas long as short
Coinbase International BTC-PERP-INTX+0.0112%1h86,517.4+0.050%$132.2M$5.64B50xas long as short
Aftermath Perps BTCUSD+0.0159%1h86,475.5+0.002%$78K$219K20xas long as short
Hibachi BTC/USDT-P+0.0184%1h86,484.8+0.012%$717K$8.1M30xas long as short
BloFin BTC-USDT+0.0194%8h86,461.9−0.014%$415.2M$658.5M150xas long as short
GMX BTC/USD [WBTC.b-USDC]L +0.0199% / S −0.0223%1h86,489.7+0.018%$15.0M—200xas long as short
Kalshi KXBTCPERP+0.0207%8h86,495+0.024%$10.1M$751.8M6.4xas long as short
Deribit BTC-PERPETUAL+0.0403%1h86,539.8+0.076%$914.5M$1.49B50xas long as short