Settings8H · net · $10k
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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+0.0040%/8h= +4.3% APRnext payment +$0.40 per $10,000 · paid last 24h −0.002%
Price spread now: Gate against Phemex+0.005%7-day average −0.003% · 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−$26as in the Price arb table
costs, in and out, $10k−$270.270% of the position
Long on PhemexShort on Gate
What this pair did over the last
the charts below follow
Funding, last 7 days+0.001%$0 on $10k
Price spread, last 3 days (all we have)+0.064%+$6 · spread now +0.005%, 7d avg −0.003%
Together, before fees+0.065%+$7 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 BTCUSDT86,586.90.0024pay 0.0024% / 8h2h 49m$149.5M$469.6M150x
ShortGate BTC_USDT86,5910.0064get 0.0064% / 8h2h 49m$5.85B$10.57B200x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Gate 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
$8.3
Price spread: +0.005% → −0.003%
$0.73
Slippage, 4 orders
−$0.02
Fee Phemex: 6 bp × 2 orders
−$12
Fee Gate: 7.5 bp × 2 orders
−$15
Net
−$17.99
Costs to cover
0.270%
Break-even
22.2 days
Slippage from Phemex: live order book, 5 min ago; Gate: 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 Phemex live order book, 5 min ago0.01 bp6.0 bp −$66.0 bp −$607.1 bp −$714doesn't fit
Sell Gate live order book, 5 min ago0.01 bp7.5 bp −$87.8 bp −$788.7 bp −$87411.1 bp −$5,564

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%43m86,625+0.044%$426K$25.1M6.7xas long as short
Aftermath Perps BTCUSD−0.0200%1h86,707.1+0.139%$85K$188K20xas long as short
Phoenix BTC−0.0103%1h86,701+0.132%$2.2M$12.4M40xas long as short
dYdX BTC-USD−0.0090%1h86,651.2+0.074%$18.0M$20.0M50xas long as short
Hotstuff BTC-PERP−0.0080%1h86,590+0.004%$9K$3K50xas long as short
KuCoin XBTUSDTM−0.0002%8h86,577.8−0.011%$844.6M$709.2M125xas long as short
01 Exchange BTCUSD0.0000%1h86,606.1+0.022%$361K$2.5M50xas long as short
Deribit BTC-PERPETUAL0.0000%1h86,629.6+0.049%$921.2M$1.39B50xas long as short
gTrade (Gains Network) BTC/USDL +0.0005% / S −0.0005%1h86,614.5+0.032%$36.6M—200xas long as short
Aster BTCUSDT+0.0013%8h86,577.6−0.011%$505.5M$1.16B200xas long as short
Show all 56 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
BingX BTC-USDT+0.0020%8h86,591.8+0.006%—$1.60B—as long as short
Reya BTCRUSDPERP+0.0021%1h86,587.6+0.001%$6.7M$144.0M40xas long as short
Phemex BTCUSDTlong+0.0024%8h86,586.9long leg$149.5M$469.6M150x
Bitget BTCUSDT+0.0026%8h86,587.7+0.001%$2.94B$5.08B150xas long as short
MEXC BTC_USDT+0.0047%8h86,587.4+0.001%$5.19B$5.63B500xas long as short
Binance BTCUSDT+0.0048%8h86,591.9+0.006%$9.44B$24.35B150xas long as short
Aevo BTC-PERP+0.0048%1h86,594.3+0.009%$2.4M$1.3M20xas long as short
Injective BTC/USDC PERP+0.0049%1h86,732+0.168%$315K$26.8M52xas long as short
OKX BTC-USDT-SWAP+0.0060%8h86,599.3+0.014%$2.57B$12.72B100xas long as short
RISEx BTC/USDC+0.0063%1h86,600.2+0.015%$9.2M$42.2M25xas long as short
Gate BTC_USDTshort+0.0064%8h86,591+0.005%$5.85B$10.57B200x
Bybit BTCUSDT+0.0077%8h86,587.30.000%$5.27B$9.70B150xas long as short
Variational Omni BTC+0.0088%8h86,626.8+0.046%$159.8M$564.2M—as long as short
Lighter BTC+0.0096%1h86,604.6+0.020%$172.0M$1.01B50xas long as short
Lighter RH BTC+0.0096%1h86,612.3+0.029%$24.0M$152.8M50xas long as short
GRVT BTC_USDT_Perp+0.0096%8h86,635.2+0.056%$217.5M$189.0M50xas long as short
Popdex BTCUSDT+0.0096%1h86,578−0.010%$8.5M$52.1M100xas long as short
Orderly PERP_BTC_USDC+0.0099%8h86,608.2+0.025%$2.4M$8.4M100xas long as short
SoDEX BTC-USD+0.0099%1h86,592+0.006%$60.4M$336.5M40xas long as short
Paradex BTC-USD-PERP+0.0100%8h86,628+0.048%$4.8M$8.2M50xas long as short
Katana Perps BTC-USD+0.0100%8h86,579−0.009%$200K$6.8M50xas long as short
Nado BTC-PERP+0.0100%1h86,600+0.015%$21.8M$237.5M50xas long as short
Hyperliquid BTC+0.0100%1h86,650+0.073%$3.83B$5.10B40xas long as short
Pacifica BTC+0.0100%1h86,620.7+0.039%$40.9M$485.8M50xas long as short
Ondo Perps BTC-USD.P+0.0100%1h86,630+0.050%$3.9M$18.8M25xas long as short
Arcus BTC-USD+0.0100%1h86,667.5+0.093%$7.4M$95.6M40xas long as short
Bulk BTC-USD+0.0100%1h86,665+0.090%$572.2M$23.5M40xas long as short
Backpack BTC_USDC_PERP+0.0100%1h86,599.1+0.014%$38.2M$148.1M75xas long as short
edgeX BTCUSDC+0.0100%4h86,704.2+0.136%$280.1M$946.6M100xas long as short
ApeX Omni BTCUSDT+0.0100%1h86,636.4+0.057%$141.8M$322.7M100xas long as short
StandX BTC-USD+0.0100%1h86,664+0.089%$30.8M$205.9M40xas long as short
Vest BTC-PERP+0.0100%1h86,656.9+0.081%—$11.6M50xas long as short
Polymarket Perps BTC-USD+0.0100%1h86,588+0.001%$11.0M$13.7M50xas long as short
Bullet BTC-USD+0.0100%1h86,587.20.000%$198K$3.4M20xas long as short
Bluefin BTC-PERP+0.0100%1h86,611+0.028%$140K$619K40xas long as short
Derive BTC-PERP+0.0100%1h86,596+0.011%$30.0M$61.5M15xas long as short
SunX BTC-USDT+0.0100%8h86,576.6−0.012%$3.4M$5.6M100xas long as short
HTX BTC-USDT+0.0100%8h86,578.8−0.009%$2.30B$956.7M200xas long as short
Extended BTC-USD+0.0104%1h86,580.8−0.007%$46.6M$229.3M50xas long as short
Jupiter Perps WBTC-PERPL +0.0104% / S +0.0048%1h86,613.5+0.031%—$98.1M500xas long as short
Kalshi KXBTCPERP+0.0106%8h86,635+0.056%$8.8M$724.4M6.4xas long as short
Kraken Futures PF_XBTUSD+0.0117%1h86,632.7+0.053%$192.1M$926.7M100xas long as short
Coinbase International BTC-PERP-INTX+0.0120%1h86,642.1+0.064%$131.9M$5.91B50xas long as short
BloFin BTC-USDT+0.0168%8h86,592.1+0.006%$418.0M$642.6M150xas long as short
GMX BTC/USD [WBTC.b-USDC]L +0.0181% / S −0.0198%1h86,609.5+0.026%$15.4M—200xas long as short
Hibachi BTC/USDT-P+0.0208%1h86,672.4+0.099%$598K$7.2M30xas long as short