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+0.0028%/8h= +3.1% APRnext payment +$0.28 per $10,000 · paid last 24h +0.009%
Price spread now: MEXC against Phemex−0.008%7-day average −0.001% · you buy dearer than you sell
Net, funding: paid 7d − costs−$12as in the Funding arb table
Net, price: spread back to 7d avg − costs−$17as in the Price arb table
costs, in and out, $10k−$160.160% of the position
Long on PhemexShort on MEXC
What this pair did over the last
the charts below follow
Funding, last 7 days+0.043%+$4 on $10k
Price spread, last 3 days (all we have)+0.044%+$4 · spread now −0.008%, 7d avg −0.001%
Together, before fees+0.087%+$9 on $10k · with fees, hour by hour
The price spread sits at its 7-day average of −0.001%, 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 BTCUSDT86,464.90.0032pay 0.0032% / 8h1h 32m$149.6M$475.9M150x
ShortMEXC BTC_USDT86,4580.0060get 0.0060% / 8h1h 32m$5.14B$5.66B500x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

MEXC 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
$5.89
Price spread: −0.008% → −0.001%
−$0.72
Slippage, 4 orders
−$0.02
Fee Phemex: 6 bp × 2 orders
−$12
Fee MEXC: 2 bp × 2 orders
−$4
Net
−$10.85
Costs to cover
0.160%
Break-even
19.9 days
Slippage from Phemex: live order book, 2 min ago; MEXC: live order book, 2 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, 2 min ago0.01 bp6.0 bp −$66.0 bp −$608.0 bp −$804doesn't fit
Sell MEXC live order book, 2 min ago0.01 bp2.0 bp −$22.0 bp −$202.3 bp −$2253.4 bp −$1,698

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
Bluefin BTC-PERP−0.0534%1h86,457−0.009%$140K$618K40xas long as short
Phoenix BTC−0.0159%1h86,627+0.187%$2.2M$11.8M40xas long as short
Aftermath Perps BTCUSD−0.0101%1h86,569+0.120%$83K$216K20xas long as short
Hotstuff BTC-PERP−0.0080%1h86,461−0.005%$9K$3K50xas long as short
Aster BTCUSDT−0.0010%8h86,440−0.029%$504.4M$1.15B200xas long as short
01 Exchange BTCUSD−0.0008%1h86,476.6+0.014%$358K$2.4M50xas long as short
dYdX BTC-USD−0.0008%1h86,483.7+0.022%$17.1M$20.7M50xas long as short
KuCoin XBTUSDTM−0.0001%8h86,435.5−0.034%$851.5M$708.5M125xas long as short
Perpl BTC0.0000%43m86,500.3+0.041%$422K$23.8M6.7xas long as short
Deribit BTC-PERPETUAL0.0000%1h86,487+0.026%$922.9M$1.48B50xas long as short
Show all 56 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
gTrade (Gains Network) BTC/USDL +0.0005% / S −0.0004%1h86,470.9+0.007%$36.8M—200xas long as short
RISEx BTC/USDC+0.0006%1h86,465.3+0.001%$8.5M$43.2M25xas long as short
Reya BTCRUSDPERP+0.0022%1h86,427.6−0.043%$6.7M$144.9M40xas long as short
Injective BTC/USDC PERP+0.0024%1h86,559+0.109%$315K$26.8M52xas long as short
Phemex BTCUSDTlong+0.0032%8h86,464.9long leg$149.6M$475.9M150x
BingX BTC-USDC+0.0034%8h86,414−0.059%—$15.3M—as long as short
Bitget BTCUSDT+0.0043%8h86,431.6−0.039%$2.94B$5.08B150xas long as short
Hibachi BTC/USDT-P+0.0048%1h86,530.4+0.076%$730K$8.2M30xas long as short
MEXC BTC_USDTshort+0.0060%8h86,458−0.008%$5.14B$5.66B500x
Binance BTCUSDT+0.0060%8h86,451.4−0.016%$9.41B$24.33B150xas long as short
Aevo BTC-PERP+0.0064%1h86,432.2−0.038%$2.4M$1.3M20xas long as short
Gate BTC_USDT+0.0074%8h86,433−0.037%$5.84B$10.66B200xas long as short
Bybit BTCUSDT+0.0089%8h86,455.3−0.011%$5.27B$9.71B150xas long as short
SoDEX BTC-USD+0.0090%1h86,447−0.021%$60.4M$337.2M40xas long as short
Lighter BTC+0.0096%1h86,460.3−0.005%$171.3M$1.01B50xas long as short
Lighter RH BTC+0.0096%1h86,475.6+0.012%$24.0M$151.9M50xas long as short
Popdex BTCUSDT+0.0096%1h86,462−0.003%$8.5M$52.2M100xas long as short
Katana Perps BTC-USD+0.0100%8h86,449−0.018%$200K$6.9M50xas long as short
Paradex BTC-USD-PERP+0.0100%8h86,495.1+0.035%$4.8M$8.4M50xas long as short
Nado BTC-PERP+0.0100%1h86,455.6−0.011%$21.9M$233.6M50xas long as short
Hyperliquid BTC+0.0100%1h86,504+0.045%$3.80B$5.09B40xas long as short
Pacifica BTC+0.0100%1h86,499.9+0.040%$41.0M$505.2M50xas long as short
OKX BTC-USDT-SWAP+0.0100%8h86,430.7−0.040%$2.54B$12.69B100xas long as short
Ondo Perps BTC-USD.P+0.0100%1h86,466+0.001%$3.9M$18.6M25xas long as short
Arcus BTC-USD+0.0100%1h86,538.1+0.085%$7.4M$93.8M40xas long as short
Bulk BTC-USD+0.0100%1h86,703.1+0.275%$573.0M$18.8M40xas long as short
Backpack BTC_USDC_PERP+0.0100%1h86,432.2−0.038%$38.3M$153.6M75xas long as short
Variational Omni BTC+0.0100%8h86,541.3+0.088%$156.5M$566.0M—as long as short
edgeX BTCUSDC+0.0100%4h86,509.2+0.051%$279.5M$944.8M100xas long as short
GRVT BTC_USDT_Perp+0.0100%8h86,543.9+0.091%$217.3M$174.1M50xas long as short
ApeX Omni BTCUSDT+0.0100%1h86,543.1+0.090%$141.5M$323.1M100xas long as short
StandX BTC-USD+0.0100%1h86,497.5+0.038%$30.7M$203.6M40xas long as short
Vest BTC-PERP+0.0100%1h86,498+0.038%—$11.6M50xas long as short
Polymarket Perps BTC-USD+0.0100%1h86,435−0.035%$11.0M$13.7M50xas long as short
Bullet BTC-USD+0.0100%1h86,446.8−0.021%$192K$3.3M20xas long as short
Orderly PERP_BTC_USDC+0.0100%8h86,457.1−0.009%$2.4M$8.6M100xas long as short
Derive BTC-PERP+0.0100%1h86,449.2−0.018%$30.0M$61.6M15xas long as short
SunX BTC-USDT+0.0100%8h86,462.6−0.003%$3.4M$5.4M100xas long as short
HTX BTC-USDT+0.0100%8h86,442.7−0.026%$2.29B$965.2M200xas long as short
Extended BTC-USD+0.0104%1h86,432.2−0.038%$46.4M$225.4M50xas long as short
Jupiter Perps WBTC-PERPL +0.0104% / S +0.0048%1h86,483.1+0.021%—$98.2M500xas long as short
Coinbase International BTC-PERP-INTX+0.0112%1h86,502.9+0.044%$131.7M$5.70B50xas long as short
Kraken Futures PF_XBTUSD+0.0121%1h86,498.6+0.039%$191.1M$937.7M100xas long as short
BloFin BTC-USDT+0.0180%8h86,473.2+0.010%$414.5M$651.6M150xas long as short
GMX BTC/USD [WBTC.b-USDC]L +0.0183% / S −0.0216%1h86,463.2−0.002%$15.4M—200xas long as short
Kalshi KXBTCPERP+0.0195%8h86,478+0.015%$9.8M$729.6M6.4xas long as short