data as of
Settings8H · net · $10k
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Funding arb /

BTC

all BTC markets
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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.

Funding spread now, next payment 17:00 UTC+0.0074%/8h
paid, last 24h0.000%paid, last 7 days−0.079%to open and close $10k−$22
Long on PhemexShort on Backpack
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongPhemex BTCUSDT85,670.30.0026pay 0.0026% / 8h7h 20m$148.3M$413.3M150x
ShortBackpack BTC_USDC_PERP85,684.20.0100get 0.0013% / 1h20m 58s$37.4M$118.4M75x

Funding history

latest
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Funding on every exchange

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latest

Profit calculator

Funding earned
$15.6
Slippage, 4 orders
−$0.02
Fee Phemex: 6 bp × 2 orders
−$12
Fee Backpack: 5 bp × 2 orders
−$10
Net
−$6.43
Break-even
9.9 days
Slippage from Phemex: live order book, 5 min ago; Backpack: live order book, 5 min ago.

Price risk

price view
Price gap now
+0.016%
Avg gap 7d
−0.031%
A gap far from its average can cost days of funding.

Backtest

opened in the past, held until now, after costs
Backtest 7 daysBacktest 30 daysBacktest 90 daysopens the backtester with this pair and $10,000 a leg

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 −$66.8 bp −$688.6 bp −$860doesn't fit
Sell Backpack live order book, 5 min ago0.01 bp5.0 bp −$55.0 bp −$505.9 bp −$58622.7 bp −$11.3K

BTC on 55 venues

lowest funding first. Swap a leg.
ExchangeFunding /8hEveryOIVol 24hMax lev
Bluefin BTC-PERP−0.8000%1h$142K$408K40xas long as short
Perpl BTC−0.0335%43m$393K$28.0M6.7xas long as short
Injective BTC/USDC PERP−0.0137%1h$308K$27.0M52xas long as short
Phoenix BTC−0.0116%1h$1.9M$11.4M40xas long as short
BloFin BTC-USDT−0.0080%8h$421.4M$560.3M150xas long as short
Hotstuff BTC-PERP−0.0080%1h$9K$4K50xas long as short
01 Exchange BTCUSD−0.0056%1h$290K$2.4M50xas long as short
ApeX Omni BTCUSDT−0.0055%1h$138.5M$317.9M100xas long as short
Kraken Futures PF_XBTUSD−0.0040%1h$187.6M$812.1M100xas long as short
SoDEX BTC-USD−0.0039%1h$60.7M$283.9M40xas long as short
Show all 55 venues
ExchangeFunding /8hEveryOIVol 24hMax lev
Reya BTCRUSDPERP−0.0019%1h$6.7M$138.0M40xas long as short
Bitget BTCUSDT−0.0004%8h$2.97B$4.65B150xas long as short
BingX BTC-USDT−0.0004%8h—$1.39B—as long as short
dYdX BTC-USD0.0000%1h$17.2M$17.6M50xas long as short
Bybit BTCUSDT+0.0004%8h$5.22B$8.57B150xas long as short
gTrade (Gains Network) BTC/USDL +0.0005% / S −0.0004%1h$36.7M—200xas long as short
KuCoin XBTUSDTM+0.0008%8h$790.6M$613.0M125xas long as short
OKX BTC-USDT-SWAP+0.0015%8h$2.64B$11.52B100xas long as short
Bulk BTC-USD+0.0019%1h$558.8M$146.4M40xas long as short
Aster BTCUSDT+0.0024%8h$498.4M$1.12B200xas long as short
Phemex BTCUSDTlong+0.0026%8h$148.3M$413.3M150x
Binance BTCUSDT+0.0040%8h$9.45B$21.91B150xas long as short
Extended BTC-USD+0.0040%1h$48.7M$204.5M50xas long as short
MEXC BTC_USDT+0.0040%8h$5.12B$5.24B500xas long as short
Aevo BTC-PERP+0.0040%1h$2.4M$1.4M20xas long as short
Gate BTC_USDT+0.0043%8h$6.05B$9.46B200xas long as short
Aftermath Perps BTCUSD+0.0060%1h$87K$149K20xas long as short
StandX BTC-USD+0.0078%1h$30.6M$230.6M40xas long as short
Bullet BTC-USD+0.0083%1h$232K$3.3M20xas long as short
Variational Omni BTC+0.0088%8h$172.3M$505.0M—as long as short
Paradex BTC-USD-PERP+0.0093%8h$4.4M$6.8M50xas long as short
Lighter BTC+0.0096%1h$171.8M$930.7M50xas long as short
Lighter RH BTC+0.0096%1h$24.6M$135.3M50xas long as short
Popdex BTCUSDT+0.0096%1h$8.5M$46.5M100xas long as short
Derive BTC-PERP+0.0098%1h$30.2M$60.4M15xas long as short
Katana Perps BTC-USD+0.0100%8h$196K$5.7M50xas long as short
Nado BTC-PERP+0.0100%1h$23.9M$225.5M50xas long as short
Pacifica BTC+0.0100%1h$36.6M$374.9M50xas long as short
Ondo Perps BTC-USD.P+0.0100%1h$3.9M$16.1M25xas long as short
Arcus BTC-USD+0.0100%1h$6.5M$84.5M40xas long as short
Backpack BTC_USDC_PERPshort+0.0100%1h$37.4M$118.4M75x
edgeX BTCUSDC+0.0100%4h$278.0M$890.7M100xas long as short
Vest BTC-PERP+0.0100%1h—$11.9M50xas long as short
Polymarket Perps BTC-USD+0.0100%1h$11.0M$11.6M50xas long as short
Orderly PERP_BTC_USDC+0.0100%8h$2.4M$7.3M100xas long as short
SunX BTC-USDT+0.0100%8h$3.3M$6.0M100xas long as short
HTX BTC-USDT+0.0100%8h$2.28B$838.6M200xas long as short
Kalshi KXBTCPERP+0.0104%8h$14.5M$606.8M6.4xas long as short
Jupiter Perps WBTC-PERPL +0.0104% / S +0.0048%1h—$86.5M500xas long as short
Hibachi BTC/USDT-P+0.0112%1h$732K$7.4M30xas long as short
Coinbase International BTC-PERP-INTX+0.0112%1h$127.7M$6.09B50xas long as short
Hyperliquid BTC+0.0121%1h$3.89B$4.36B40xas long as short
RISEx BTC/USDC+0.0132%1h$8.9M$38.4M25xas long as short
Deribit BTC-PERPETUAL+0.0163%1h$911.5M$1.12B50xas long as short
GMX BTC/USD [WBTC.b-USDC]L +0.0171% / S −0.0149%1h$12.4M—200xas long as short