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−0.0044%/8h= −4.8% APRnext payment −$0.44 per $10,000 · paid last 24h −0.019%
Price spread now: Phemex against SunX+0.024%7-day average +0.008% · you sell dearer than you buy
Net, funding: paid 7d − costs−$28as in the Funding arb table
Net, price: spread back to 7d avg − costs−$21as in the Price arb table
costs, in and out, $10k−$220.224% of the position
Long on SunXShort on Phemex
What this pair did over the last
the charts below follow
Funding, last 7 days−0.058%−$6 on $10k
Price spread, last 3 days (all we have)−0.002%$0 · spread now +0.024%, 7d avg +0.008%
Together, before fees−0.060%−$6 on $10k · with fees, hour by hour
The price spread sits at its 7-day average of +0.008%, so right now this pair is about funding alone: −$1 a day on $10k at the current rate.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongSunX BTC-USDT86,482.50.0100pay 0.0100% / 8h5m 56s$3.4M$5.3M100x
ShortPhemex BTCUSDT86,503.60.0056get 0.0056% / 8h5m 56s$151.5M$478.8M150x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Phemex against SunX. 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
−$9.29
Price spread: +0.024% → +0.008%
$1.63
Slippage, 4 orders
−$2.36
Fee SunX: 4 bp × 2 orders
−$8
Fee Phemex: 6 bp × 2 orders
−$12
Net
−$30.02
Costs to cover
0.224%
Break-even
never at this rate
Slippage from SunX: live order book, 13 min ago; Phemex: live order book, 3 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 SunX live order book, 13 min ago0.34 bp5.5 bp −$66.1 bp −$618.2 bp −$82311.1 bp −$5,545
Sell Phemex live order book, 3 min ago0.01 bp6.0 bp −$66.7 bp −$678.0 bp −$798doesn'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%1h86,444−0.045%$2.2M$11.8M40xas long as short
Hotstuff BTC-PERP−0.0080%1h86,523+0.047%$9K$3K50xas long as short
Injective BTC/USDC PERP−0.0035%1h86,345−0.159%$332K$26.9M52xas long as short
RISEx BTC/USDC−0.0024%1h86,527.1+0.052%$8.3M$42.7M25xas long as short
01 Exchange BTCUSD−0.0016%1h86,526.2+0.051%$360K$2.4M50xas long as short
Perpl BTC0.0000%43m86,528.3+0.053%$412K$22.5M6.7xas long as short
gTrade (Gains Network) BTC/USDL +0.0005% / S −0.0005%1h86,511.2+0.033%$36.8M—200xas long as short
Aster BTCUSDT+0.0011%8h86,514.7+0.037%$501.8M$1.15B200xas long as short
KuCoin XBTUSDTM+0.0023%8h86,498.5+0.019%$834.3M$728.5M125xas long as short
Reya BTCRUSDPERP+0.0037%1h86,494.8+0.014%$6.7M$145.5M40xas long as short
Show all 56 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
BingX BTC-USDT+0.0044%8h86,514.9+0.037%—$1.59B—as long as short
Phemex BTCUSDTshort+0.0056%8h86,503.6+0.024%$151.5M$478.8M150x
Bitget BTCUSDT+0.0056%8h86,510.2+0.032%$2.97B$5.12B150xas long as short
dYdX BTC-USD+0.0063%1h86,506.6+0.028%$16.9M$21.2M50xas long as short
Aevo BTC-PERP+0.0072%1h86,482.40.000%$2.5M$1.4M20xas long as short
MEXC BTC_USDT+0.0074%8h86,507.6+0.029%$5.16B$5.69B500xas long as short
Binance BTCUSDT+0.0075%8h86,511.6+0.034%$9.44B$24.54B150xas long as short
Gate BTC_USDT+0.0081%8h86,509.6+0.031%$5.85B$10.81B200xas long as short
Lighter BTC+0.0096%1h86,510.5+0.032%$169.9M$1.02B50xas long as short
Lighter RH BTC+0.0096%1h86,517.1+0.040%$23.8M$153.2M50xas long as short
Popdex BTCUSDT+0.0096%1h86,513+0.035%$8.5M$52.3M100xas long as short
Bybit BTCUSDT+0.0099%8h86,512.9+0.035%$5.27B$9.79B150xas long as short
Katana Perps BTC-USD+0.0100%8h86,501+0.021%$195K$7.1M50xas long as short
Paradex BTC-USD-PERP+0.0100%8h86,558.3+0.088%$4.8M$8.5M50xas long as short
Nado BTC-PERP+0.0100%1h86,541.7+0.068%$21.7M$233.9M50xas long as short
Hyperliquid BTC+0.0100%1h86,589+0.123%$3.80B$5.10B40xas long as short
Pacifica BTC+0.0100%1h86,552.5+0.081%$41.1M$538.1M50xas long as short
OKX BTC-USDT-SWAP+0.0100%8h86,525+0.049%$2.55B$12.74B100xas long as short
Ondo Perps BTC-USD.P+0.0100%1h86,540+0.066%$3.9M$18.4M25xas long as short
Arcus BTC-USD+0.0100%1h86,552.1+0.080%$7.3M$96.1M40xas long as short
Backpack BTC_USDC_PERP+0.0100%1h86,499.4+0.020%$38.0M$156.2M75xas long as short
Variational Omni BTC+0.0100%8h86,474−0.010%$157.6M$567.5M—as long as short
edgeX BTCUSDC+0.0100%4h86,442.3−0.047%$279.2M$947.3M100xas long as short
GRVT BTC_USDT_Perp+0.0100%8h86,461.1−0.025%$217.1M$172.4M50xas long as short
ApeX Omni BTCUSDT+0.0100%1h86,464.5−0.021%$141.5M$323.1M100xas long as short
StandX BTC-USD+0.0100%1h86,481.4−0.001%$30.7M$207.1M40xas long as short
Vest BTC-PERP+0.0100%1h86,561.5+0.091%—$11.9M50xas long as short
Polymarket Perps BTC-USD+0.0100%1h86,517+0.040%$11.1M$13.9M50xas long as short
Bullet BTC-USD+0.0100%1h86,489+0.008%$192K$3.3M20xas long as short
Orderly PERP_BTC_USDC+0.0100%8h86,492.6+0.012%$2.5M$9.3M100xas long as short
Bluefin BTC-PERP+0.0100%1h86,527+0.051%$141K$663K40xas long as short
Derive BTC-PERP+0.0100%1h86,521.9+0.046%$30.5M$62.6M15xas long as short
SunX BTC-USDTlong+0.0100%8h86,482.5long leg$3.4M$5.3M100x
SoDEX BTC-USD+0.0100%1h86,494+0.013%$60.5M$338.1M40xas long as short
HTX BTC-USDT+0.0100%8h86,492.4+0.011%$2.30B$968.3M200xas long as short
Bulk BTC-USD+0.0100%1h86,452.9−0.034%$572.2M$12.3M40xas long as short
Extended BTC-USD+0.0104%1h86,496+0.016%$45.8M$225.4M50xas long as short
Jupiter Perps WBTC-PERPL +0.0104% / S +0.0048%1h86,555+0.084%—$100.0M500xas long as short
Kraken Futures PF_XBTUSD+0.0110%1h86,534+0.060%$193.0M$953.1M100xas long as short
Coinbase International BTC-PERP-INTX+0.0112%1h86,545.4+0.073%$132.1M$5.64B50xas long as short
Aftermath Perps BTCUSD+0.0162%1h86,506.1+0.027%$78K$219K20xas long as short
Hibachi BTC/USDT-P+0.0176%1h86,525.2+0.049%$717K$8.1M30xas long as short
BloFin BTC-USDT+0.0194%8h86,523.4+0.047%$415.5M$659.2M150xas long as short
GMX BTC/USD [WBTC.b-USDC]L +0.0200% / S −0.0224%1h86,505.4+0.026%$15.0M—200xas long as short
Kalshi KXBTCPERP+0.0208%8h86,546+0.073%$10.2M$753.6M6.4xas long as short
Deribit BTC-PERPETUAL+0.0268%1h86,550+0.078%$913.1M$1.49B50xas long as short