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

BTC

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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 14:00 UTC+0.0049%/8h
paid, last 24h−0.001%paid, last 7 days+0.016%to open and close $10k−$20
Long on PhoenixShort on KuCoin
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongPhoenix BTC85,7490.0015pay 0.0002% / 1h29m 58s$1.6M$10.8M40x
ShortKuCoin XBTUSDTM85,667.30.0064get 0.0064% / 8h1h 29m$789.6M$581.7M125x

Funding history

latest
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Funding on every exchange

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latest

Profit calculator

Funding earned
$10.29
Slippage, 4 orders
−$1.27
Fee Phoenix: 3.5 bp × 2 orders
−$7
Fee KuCoin: 6 bp × 2 orders
−$12
Net
−$9.98
Break-even
13.8 days
Slippage from Phoenix: live order book, 6 min ago; KuCoin: live order book, 6 min ago.

Price risk

price view
Price gap now
−0.095%
Avg gap 7d
−0.055%
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 Phoenix live order book, 6 min ago0.06 bp3.7 bp −$46.9 bp −$6914.4 bp −$1,445doesn't fit
Sell KuCoin live order book, 6 min ago0.01 bp6.0 bp −$66.4 bp −$647.7 bp −$76911.5 bp −$5,749

BTC on 55 venues

lowest funding first. Swap a leg.
ExchangeFunding /8hEveryOIVol 24hMax lev
Bluefin BTC-PERP−0.0533%1h$143K$401K40xas long as short
Perpl BTC−0.0447%43m$396K$31.0M6.7xas long as short
01 Exchange BTCUSD−0.0104%1h$284K$2.3M50xas long as short
edgeX BTCUSDC−0.0094%4h$285.1M$809.0M100xas long as short
Hotstuff BTC-PERP−0.0080%1h$8K$3K50xas long as short
Aftermath Perps BTCUSD−0.0075%1h$86K$142K20xas long as short
ApeX Omni BTCUSDT−0.0045%1h$138.2M$316.7M100xas long as short
Reya BTCRUSDPERP−0.0031%1h$6.8M$137.2M40xas long as short
Gate BTC_USDT−0.0012%8h$6.09B$8.68B200xas long as short
Bitget BTCUSDT−0.0009%8h$2.97B$4.33B150xas long as short
Show all 55 venues
ExchangeFunding /8hEveryOIVol 24hMax lev
BingX BTC-USDT−0.0009%8h—$1.31B—as long as short
Phemex BTCUSDT−0.0009%8h$158.0M$378.2M150xas long as short
dYdX BTC-USD0.0000%1h$16.7M$14.7M50xas long as short
Kalshi KXBTCPERP0.0000%8h$9.1M$513.2M6.4xas long as short
gTrade (Gains Network) BTC/USDL +0.0005% / S −0.0004%1h$36.7M—200xas long as short
Phoenix BTClong+0.0015%1h$1.6M$10.8M40x
SoDEX BTC-USD+0.0027%1h$61.0M$258.6M40xas long as short
HTX BTC-USDT+0.0038%8h$2.29B$786.2M200xas long as short
Aster BTCUSDT+0.0040%8h$488.0M$1.03B200xas long as short
Kraken Futures PF_XBTUSD+0.0042%1h$186.7M$760.3M100xas long as short
OKX BTC-USDT-SWAP+0.0050%8h$2.58B$10.83B100xas long as short
KuCoin XBTUSDTMshort+0.0064%8h$789.6M$581.7M125x
Nado BTC-PERP+0.0069%1h$24.1M$223.2M50xas long as short
Bullet BTC-USD+0.0070%1h$248K$3.3M20xas long as short
Hibachi BTC/USDT-P+0.0080%1h$592K$7.2M30xas long as short
Paradex BTC-USD-PERP+0.0082%8h$4.3M$6.5M50xas long as short
MEXC BTC_USDT+0.0088%8h$4.96B$4.74B500xas long as short
Aevo BTC-PERP+0.0088%1h$2.4M$1.7M20xas long as short
Binance BTCUSDT+0.0089%8h$9.60B$19.90B150xas long as short
Lighter BTC+0.0096%1h$179.8M$869.6M50xas long as short
Lighter RH BTC+0.0096%1h$25.5M$133.2M50xas long as short
Popdex BTCUSDT+0.0096%1h$8.4M$41.3M100xas long as short
Katana Perps BTC-USD+0.0100%8h$197K$5.0M50xas long as short
Pacifica BTC+0.0100%1h$36.6M$317.3M50xas long as short
Bybit BTCUSDT+0.0100%8h$5.10B$7.94B150xas long as short
Ondo Perps BTC-USD.P+0.0100%1h$3.9M$15.6M25xas long as short
Arcus BTC-USD+0.0100%1h$6.1M$77.9M40xas long as short
Backpack BTC_USDC_PERP+0.0100%1h$39.6M$100.4M75xas long as short
Variational Omni BTC+0.0100%8h$174.8M$467.7M—as long as short
StandX BTC-USD+0.0100%1h$30.6M$244.9M40xas long as short
Vest BTC-PERP+0.0100%1h—$13.1M50xas long as short
Polymarket Perps BTC-USD+0.0100%1h$10.8M$10.8M50xas long as short
Orderly PERP_BTC_USDC+0.0100%8h$2.4M$6.8M100xas long as short
Derive BTC-PERP+0.0100%1h$28.7M$55.7M15xas long as short
SunX BTC-USDT+0.0100%8h$3.3M$5.4M100xas long as short
Bulk BTC-USD+0.0100%1h$535.4M$59.7M40xas long as short
Extended BTC-USD+0.0104%1h$47.4M$201.8M50xas long as short
Jupiter Perps WBTC-PERPL +0.0104% / S +0.0048%1h—$86.8M500xas long as short
Coinbase International BTC-PERP-INTX+0.0112%1h$144.4M$6.17B50xas long as short
Hyperliquid BTC+0.0136%1h$3.87B$4.12B40xas long as short
RISEx BTC/USDC+0.0178%1h$8.5M$36.9M25xas long as short
Injective BTC/USDC PERP+0.0180%1h$308K$27.0M52xas long as short
GMX BTC/USD [WBTC.b-USDC]L +0.0199% / S −0.0202%1h$13.3M—200xas long as short
BloFin BTC-USDT+0.0209%8h$421.1M$488.2M150xas long as short
Deribit BTC-PERPETUAL+0.0432%1h$856.3M$955.5M50xas long as short