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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 23:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.013%
Price spread now: SoDEX against SunX+0.054%7-day average +0.004% · you sell dearer than you buy
Net, funding: paid 7d − costs—under 7 days of funding history
Net, price: spread back to 7d avg − costs−$13as in the Price arb table
costs, in and out, $10k−$180.184% of the position
Long on SunXShort on SoDEX
What this pair did over the last
the charts below follow
Funding, last 3 days (all we have)−0.025%−$3 on $10k
Price spread, last 3 days (all we have)−0.019%−$2 · spread now +0.054%, 7d avg +0.004%
Together, before fees−0.044%−$4 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: SoDEX is 0.049% dearer against SunX than usual: you sell high and buy low, +$5 on $10k if it goes back to its 7-day average of +0.004%.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongSunX BTC-USDT86,293.80.0100pay 0.0100% / 8h1h 09m$3.4M$5.4M100x
ShortSoDEX BTC-USD86,3400.0100get 0.0013% / 1h9m 17s$60.4M$337.3M40x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

SoDEX 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
$0
Price spread: +0.054% → +0.004%
$4.92
Slippage, 4 orders
−$2.41
Fee SunX: 4 bp × 2 orders
−$8
Fee SoDEX: 4 bp × 2 orders
−$8
Net
−$13.49
Costs to cover
0.184%
Break-even
never at this rate
Slippage from SunX: live order book, 9 min ago; SoDEX: 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 SunX live order book, 9 min ago0.60 bp5.2 bp −$56.0 bp −$608.1 bp −$80610.8 bp −$5,417
Sell SoDEX live order book, 5 min ago0.06 bp4.1 bp −$44.1 bp −$415.5 bp −$54844.2 bp −$22.1K

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−0.0586%1h86,358+0.074%$140K$620K40xas long as short
Phoenix BTC−0.0159%1h86,356+0.072%$2.2M$11.8M40xas long as short
Hotstuff BTC-PERP−0.0080%1h86,308+0.016%$9K$3K50xas long as short
01 Exchange BTCUSD−0.0016%1h86,339+0.052%$358K$2.5M50xas long as short
Aster BTCUSDT−0.0012%8h86,336.5+0.049%$503.1M$1.15B200xas long as short
KuCoin XBTUSDTM+0.0004%8h86,334.1+0.047%$851.4M$712.7M125xas long as short
gTrade (Gains Network) BTC/USDL +0.0005% / S −0.0004%1h86,353.8+0.070%$36.8M—200xas long as short
dYdX BTC-USD+0.0005%1h86,294.20.000%$16.9M$21.1M50xas long as short
RISEx BTC/USDC+0.0006%1h86,324.3+0.035%$8.4M$42.8M25xas long as short
Reya BTCRUSDPERP+0.0023%1h86,329.6+0.041%$6.7M$145.0M40xas long as short
Show all 56 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Injective BTC/USDC PERP+0.0024%1h86,360+0.077%$332K$26.8M52xas long as short
BingX BTC-USDT+0.0037%8h86,349.3+0.064%—$1.59B—as long as short
Phemex BTCUSDT+0.0042%8h86,340.7+0.054%$150.2M$476.9M150xas long as short
Bitget BTCUSDT+0.0046%8h86,343.4+0.057%$2.95B$5.11B150xas long as short
Aftermath Perps BTCUSD+0.0052%1h86,383.8+0.104%$80K$219K20xas long as short
MEXC BTC_USDT+0.0063%8h86,340.3+0.054%$5.11B$5.71B500xas long as short
Binance BTCUSDT+0.0064%8h86,340.7+0.054%$9.41B$24.46B150xas long as short
Aevo BTC-PERP+0.0064%1h86,331.6+0.044%$2.4M$1.3M20xas long as short
Deribit BTC-PERPETUAL+0.0069%1h86,377.6+0.097%$917.6M$1.49B50xas long as short
Gate BTC_USDT+0.0080%8h86,340.8+0.054%$5.84B$10.76B200xas long as short
Bybit BTCUSDT+0.0094%8h86,344.2+0.058%$5.25B$9.79B150xas long as short
Lighter BTC+0.0096%1h86,346.3+0.061%$170.2M$1.01B50xas long as short
Lighter RH BTC+0.0096%1h86,358+0.074%$24.0M$152.7M50xas long as short
Popdex BTCUSDT+0.0096%1h86,334+0.047%$8.4M$52.4M100xas long as short
Katana Perps BTC-USD+0.0100%8h86,309+0.018%$202K$6.9M50xas long as short
Paradex BTC-USD-PERP+0.0100%8h86,344.9+0.059%$4.8M$8.5M50xas long as short
Nado BTC-PERP+0.0100%1h86,295.1+0.001%$21.6M$234.6M50xas long as short
Hyperliquid BTC+0.0100%1h86,411+0.136%$3.79B$5.09B40xas long as short
Pacifica BTC+0.0100%1h86,348+0.063%$40.7M$517.9M50xas long as short
OKX BTC-USDT-SWAP+0.0100%8h86,354.1+0.070%$2.54B$12.72B100xas long as short
Ondo Perps BTC-USD.P+0.0100%1h86,325+0.036%$3.9M$18.6M25xas long as short
Arcus BTC-USD+0.0100%1h86,379.6+0.099%$7.8M$94.8M40xas long as short
Bulk BTC-USD+0.0100%1h86,320.9+0.031%$570.7M$18.4M40xas long as short
Backpack BTC_USDC_PERP+0.0100%1h86,335.4+0.048%$37.8M$154.8M75xas long as short
Variational Omni BTC+0.0100%8h86,316.3+0.026%$155.5M$568.1M—as long as short
edgeX BTCUSDC+0.0100%4h86,321.8+0.032%$279.0M$944.1M100xas long as short
GRVT BTC_USDT_Perp+0.0100%8h86,358.3+0.075%$217.0M$174.8M50xas long as short
ApeX Omni BTCUSDT+0.0100%1h86,353.6+0.069%$141.2M$323.8M100xas long as short
StandX BTC-USD+0.0100%1h86,332.2+0.044%$30.6M$204.1M40xas long as short
Vest BTC-PERP+0.0100%1h86,372.3+0.091%—$11.7M50xas long as short
Polymarket Perps BTC-USD+0.0100%1h86,333+0.045%$11.1M$13.8M50xas long as short
Bullet BTC-USD+0.0100%1h86,344+0.058%$190K$3.4M20xas long as short
Orderly PERP_BTC_USDC+0.0100%8h86,345.1+0.059%$2.4M$8.7M100xas long as short
Derive BTC-PERP+0.0100%1h86,361.5+0.078%$30.6M$62.2M15xas long as short
SunX BTC-USDTlong+0.0100%8h86,293.8long leg$3.4M$5.4M100x
SoDEX BTC-USDshort+0.0100%1h86,340+0.054%$60.4M$337.3M40x
HTX BTC-USDT+0.0100%8h86,317.5+0.027%$2.29B$968.8M200xas long as short
Extended BTC-USD+0.0104%1h86,321.8+0.032%$45.6M$226.3M50xas long as short
Jupiter Perps WBTC-PERPL +0.0104% / S +0.0048%1h86,345.5+0.060%—$98.9M500xas long as short
Perpl BTC+0.0112%43m86,309.8+0.019%$420K$23.5M6.7xas long as short
Coinbase International BTC-PERP-INTX+0.0112%1h86,380.8+0.101%$131.3M$5.68B50xas long as short
Kraken Futures PF_XBTUSD+0.0121%1h86,365.9+0.084%$191.3M$945.6M100xas long as short
Hibachi BTC/USDT-P+0.0128%1h86,306.6+0.015%$718K$8.1M30xas long as short
BloFin BTC-USDT+0.0184%8h86,339.6+0.053%$414.4M$653.6M150xas long as short
GMX BTC/USD [WBTC.b-USDC]L +0.0187% / S −0.0209%1h86,346.7+0.061%$15.1M—200xas long as short
Kalshi KXBTCPERP+0.0198%8h86,335+0.048%$9.8M$735.1M6.4xas long as short