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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 11:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%
Price spread now: Variational Omni against Bullet−0.036%7-day average −0.015% · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Long on BulletShort on Variational Omni
What this pair did over the last
the charts below follow
Funding, last 4 days (all we have)+0.009%+$1 on $10k
Price spread, last 7 days+0.017%+$2 · spread now −0.036%, 7d avg −0.015%
Together, before fees+0.026%+ Points / potential airdropVariational Omni: Active · farm board+$3 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: Variational Omni is 0.021% cheaper against Bullet than usual: you would sell low and buy high, −$2 on $10k if it goes back to its 7-day average of −0.015%.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongBullet BTC-USD86,143.70.0100pay 0.0013% / 1h56m 34s$206K$3.2M20x
ShortVariational Omni BTC86,112.60.0100get 0.0100% / 8h5h 56m$157.8M$476.8M—

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Variational Omni against Bullet. 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: −0.036% → −0.015%
−$2.1
Slippage, 4 orders
no order book: not counted
Fee Bullet: 4 bp × 2 orders
−$8
Fee Variational Omni: 0 bp × 2 orders
$0
Net
−$10.1
Costs to cover
0.080%
Break-even
never at this rate
Slippage unknown: Bullet: live order book, 1 min ago; Variational Omni: RFQ quote, 6 min ago. Net counts fees only.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy Bullet live order book, 1 min ago0.29 bp4.9 bp −$56.8 bp −$68doesn't fitdoesn't fit
Sell Variational Omni RFQ quote, 6 min ago0.50 bpdoesn't fit0.5 bp −$52.2 bp −$225doesn't fit

BTC on 55 exchanges

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Hotstuff BTC-PERP−0.0080%1h86,197+0.062%$8K$2K50xas long as short
SoDEX BTC-USD−0.0034%1h86,164+0.024%$66.0M$188.1M40xas long as short
01 Exchange BTCUSD−0.0032%1h86,160.2+0.019%$363K$2.0M50xas long as short
BloFin BTC-USDT−0.0020%8h86,159.8+0.019%$421.0M$566.8M150xas long as short
ApeX Omni BTCUSDT−0.0004%1h86,185.3+0.048%$138.2M$295.1M100xas long as short
dYdX BTC-USD0.0000%1h86,162.9+0.022%$16.9M$14.5M50xas long as short
Perpl BTC0.0000%43m86,228.2+0.098%$483K$13.8M6.7xas long as short
gTrade (Gains Network) BTC/USDL +0.0004% / S −0.0004%1h86,178.5+0.040%$36.8M—200xas long as short
Injective BTC/USDC PERP+0.0009%1h86,214+0.082%$301K$26.1M52xas long as short
BingX BTC-USDC+0.0029%8h86,132.3−0.013%—$16.3M—as long as short
Show all 55 exchanges
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Kraken Futures PF_XBTUSD+0.0029%1h86,186.1+0.049%$191.8M$775.3M100xas long as short
Aster BTCUSDT+0.0031%8h86,152.1+0.010%$513.4M$878.2M200xas long as short
Bybit BTCUSDT+0.0037%8h86,141.7−0.002%$5.15B$8.15B150xas long as short
Phoenix BTC+0.0053%1h86,185+0.048%$2.0M$7.8M40xas long as short
KuCoin XBTUSDTM+0.0053%8h86,180.5+0.043%$943.2M$637.0M125xas long as short
Gate BTC_USDT+0.0070%8h86,161.5+0.021%$5.52B$8.87B200xas long as short
Popdex BTCUSDT+0.0072%1h86,142−0.002%$8.8M$45.5M100xas long as short
Phemex BTCUSDT+0.0080%8h86,164.7+0.024%$170.7M$480.3M150xas long as short
Lighter BTC+0.0096%1h86,192+0.056%$173.9M$850.6M50xas long as short
Lighter RH BTC+0.0096%1h86,190.3+0.054%$23.6M$118.4M50xas long as short
Bitget BTCUSDT+0.0096%8h86,136.8−0.008%$2.99B$3.99B150xas long as short
Aevo BTC-PERP+0.0096%1h86,147.4+0.004%$2.4M$6.7M20xas long as short
Katana Perps BTC-USD+0.0100%8h86,139−0.005%$220K$8.1M50xas long as short
Paradex BTC-USD-PERP+0.0100%8h86,210.8+0.078%$6.0M$7.8M50xas long as short
Nado BTC-PERP+0.0100%1h86,178.4+0.040%$23.7M$196.8M50xas long as short
Pacifica BTC+0.0100%1h86,212+0.079%$40.4M$570.0M50xas long as short
Binance BTCUSDT+0.0100%8h86,144.6+0.001%$9.46B$20.69B150xas long as short
OKX BTC-USDT-SWAP+0.0100%8h86,140.1−0.004%$2.62B$9.54B100xas long as short
Ondo Perps BTC-USD.P+0.0100%1h86,155+0.013%$4.0M$15.2M25xas long as short
Arcus BTC-USD+0.0100%1h86,192.6+0.057%$4.2M$90.5M40xas long as short
Bulk BTC-USD+0.0100%1h86,169.3+0.030%$716.4M$134.3M40xas long as short
MEXC BTC_USDT+0.0100%8h86,133.7−0.012%$5.18B$4.81B500xas long as short
Backpack BTC_USDC_PERP+0.0100%1h86,159.8+0.019%$38.7M$195.7M75xas long as short
Variational Omni BTCshort+0.0100%8h86,112.6−0.036%$157.8M$476.8M—
edgeX BTCUSDC+0.0100%4h86,094.9−0.057%$289.8M$841.1M100xas long as short
GRVT BTC_USDT_Perp+0.0100%8h86,177.2+0.039%$216.5M$133.7M50xas long as short
StandX BTC-USD+0.0100%1h86,183.5+0.046%$30.3M$222.5M40xas long as short
Vest BTC-PERP+0.0100%1h86,204.5+0.071%—$9.3M50xas long as short
Polymarket Perps BTC-USD+0.0100%1h86,149+0.006%$11.1M$12.0M50xas long as short
Bullet BTC-USDlong+0.0100%1h86,143.7long leg$206K$3.2M20x
Orderly PERP_BTC_USDC+0.0100%8h86,159.2+0.018%$2.7M$8.9M100xas long as short
Bluefin BTC-PERP+0.0100%1h86,209.1+0.076%$195K$564K40xas long as short
SunX BTC-USDT+0.0100%8h86,171.6+0.032%$3.2M$6.7M100xas long as short
HTX BTC-USDT+0.0100%8h86,160.3+0.019%$2.28B$806.1M200xas long as short
Extended BTC-USD+0.0104%1h86,124.6−0.022%$47.0M$203.9M50xas long as short
Jupiter Perps WBTC-PERPL +0.0104% / S +0.0056%1h86,162.5+0.022%—$81.5M500xas long as short
Coinbase International BTC-PERP-INTX+0.0120%1h86,214.4+0.082%$112.4M$4.99B50xas long as short
Kalshi KXBTCPERP+0.0161%8h86,191+0.055%$11.8M$732.2M6.4xas long as short
Reya BTCRUSDPERP+0.0162%1h86,134.9−0.010%$6.6M$131.1M40xas long as short
Hyperliquid BTC+0.0165%1h86,235+0.106%$3.97B$4.41B40xas long as short
RISEx BTC/USDC+0.0187%1h86,175.9+0.037%$9.0M$37.3M25xas long as short
GMX BTC/USD [WBTC.b-USDC]L +0.0209% / S −0.0248%1h86,178.9+0.041%$15.6M—200xas long as short
Deribit BTC-PERPETUAL+0.0233%1h86,221.4+0.090%$822.6M$1.52B50xas long as short
Hibachi BTC/USDT-P+0.0344%1h86,238.4+0.110%$718K$7.0M30xas long as short
Aftermath Perps BTCUSD+0.0442%1h86,205.9+0.072%$82K$244K20xas long as short