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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 20:00 UTC+0.0011%/8hpaid last 24h −0.008%
Price spread now: Arcus against Variational Omni+0.069%7-day average +0.040% · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Long on Variational OmniShort on Arcus
What this pair did over the last
the charts below follow
Funding, last 3 days (all we have)−0.004%$0 on $10k
Price spread, last 7 days−0.056%−$6 · spread now +0.069%, 7d avg +0.040%
Together, before fees−0.060%+ Points / potential airdropVariational Omni: Active · farm board−$6 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays $0 a day on $10k at the current rate, and Arcus is 0.029% dearer against Variational Omni than usual: you sell high and buy low: +$3 more if the spread goes back to its 7-day average of +0.040%.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongVariational Omni BTC86,4590.0089pay 0.0089% / 8h4h 06m$163.4M$537.2M—
ShortArcus BTC-USD86,518.40.0100get 0.0013% / 1h6m 10s$6.9M$92.5M40x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Arcus against Variational Omni. 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
$2.28
Price spread: +0.069% → +0.040%
$2.9
Slippage, 4 orders
no order book: not counted
Fee Variational Omni: 0 bp × 2 orders
$0
Fee Arcus: 2.25 bp × 2 orders
−$4.5
Net
$0.68
Costs to cover
0.045%
Break-even
4.9 days
Slippage unknown: Variational Omni: RFQ quote, 2 min ago; Arcus: live order book, 2 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 Variational Omni RFQ quote, 2 min ago0.50 bpdoesn't fit0.5 bp −$51.3 bp −$128doesn't fit
Sell Arcus live order book, 2 min ago0.01 bp2.3 bp −$22.6 bp −$264.9 bp −$489doesn'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−0.0132%1h86,513+0.062%$2.1M$11.1M40xas long as short
Perpl BTC−0.0112%43m86,474.6+0.018%$410K$25.9M6.7xas long as short
BloFin BTC-USDT−0.0082%8h86,503.8+0.052%$422.7M$595.4M150xas long as short
Hotstuff BTC-PERP−0.0080%1h86,489+0.035%$9K$4K50xas long as short
Aftermath Perps BTCUSD−0.0046%1h86,527.5+0.079%$85K$166K20xas long as short
Kraken Futures PF_XBTUSD−0.0030%1h86,496.3+0.043%$184.5M$860.3M100xas long as short
01 Exchange BTCUSD−0.0024%1h86,510.6+0.060%$303K$2.4M50xas long as short
dYdX BTC-USD−0.0014%1h86,517+0.067%$17.3M$18.2M50xas long as short
KuCoin XBTUSDTM−0.0010%8h86,449.7−0.011%$822.9M$665.8M125xas long as short
Kalshi KXBTCPERP0.0000%8h86,518+0.068%$8.8M$694.5M6.4xas long as short
Show all 56 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Injective BTC/USDC PERP0.0000%1h86,572+0.131%$327K$27.0M52xas long as short
Reya BTCRUSDPERP+0.0004%1h86,488.6+0.034%$6.7M$139.9M40xas long as short
gTrade (Gains Network) BTC/USDL +0.0004% / S −0.0004%1h86,509.2+0.058%$37.1M—200xas long as short
BingX BTC-USDC+0.0006%8h86,466.8+0.009%—$14.8M—as long as short
SoDEX BTC-USD+0.0008%1h86,449−0.012%$61.0M$311.5M40xas long as short
Bitget BTCUSDT+0.0008%8h86,462.3+0.004%$2.97B$4.90B150xas long as short
Aster BTCUSDT+0.0021%8h86,465.3+0.007%$506.3M$1.12B200xas long as short
RISEx BTC/USDC+0.0027%1h86,496.6+0.043%$8.9M$39.7M25xas long as short
Phemex BTCUSDT+0.0035%8h86,464.6+0.006%$153.4M$444.3M150xas long as short
MEXC BTC_USDT+0.0037%8h86,460.6+0.002%$5.13B$5.35B500xas long as short
Binance BTCUSDT+0.0038%8h86,466.9+0.009%$9.53B$23.28B150xas long as short
OKX BTC-USDT-SWAP+0.0039%8h86,454−0.006%$2.63B$12.16B100xas long as short
Aevo BTC-PERP+0.0040%1h86,477.6+0.021%$2.4M$1.3M20xas long as short
ApeX Omni BTCUSDT+0.0043%1h86,479.2+0.023%$140.5M$320.6M100xas long as short
Bulk BTC-USD+0.0062%1h86,467+0.009%$570.2M$47.0M40xas long as short
HTX BTC-USDT+0.0066%8h86,456.3−0.003%$2.30B$896.2M200xas long as short
Bluefin BTC-PERP+0.0068%1h86,497.4+0.044%$141K$505K40xas long as short
Gate BTC_USDT+0.0069%8h86,462.5+0.004%$5.98B$10.20B200xas long as short
Bybit BTCUSDT+0.0076%8h86,462+0.003%$5.29B$9.20B150xas long as short
Popdex BTCUSDT+0.0080%1h86,487+0.032%$8.5M$49.9M100xas long as short
Orderly PERP_BTC_USDC+0.0088%8h86,483.3+0.028%$2.3M$7.7M100xas long as short
Variational Omni BTClong+0.0089%8h86,459long leg$163.4M$537.2M—
Lighter BTC+0.0096%1h86,470.5+0.013%$172.9M$980.9M50xas long as short
Lighter RH BTC+0.0096%1h86,469.4+0.012%$24.2M$146.9M50xas long as short
Hibachi BTC/USDT-P+0.0096%1h86,542.8+0.097%$615K$6.8M30xas long as short
GRVT BTC_USDT_Perp+0.0097%8h86,471.7+0.015%$217.2M$181.9M50xas long as short
Paradex BTC-USD-PERP+0.0099%8h86,484.5+0.029%$4.5M$7.2M50xas long as short
Katana Perps BTC-USD+0.0100%8h86,498+0.045%$212K$6.1M50xas long as short
Nado BTC-PERP+0.0100%1h86,456−0.004%$23.4M$229.8M50xas long as short
Pacifica BTC+0.0100%1h86,477.1+0.021%$37.3M$446.3M50xas long as short
Ondo Perps BTC-USD.P+0.0100%1h86,503+0.051%$3.9M$18.4M25xas long as short
Arcus BTC-USDshort+0.0100%1h86,518.4+0.069%$6.9M$92.5M40x
Backpack BTC_USDC_PERP+0.0100%1h86,468.8+0.011%$37.6M$140.1M75xas long as short
edgeX BTCUSDC+0.0100%4h86,473+0.016%$284.3M$906.7M100xas long as short
StandX BTC-USD+0.0100%1h86,505.7+0.054%$30.8M$208.9M40xas long as short
Vest BTC-PERP+0.0100%1h86,563+0.120%—$11.6M50xas long as short
Polymarket Perps BTC-USD+0.0100%1h86,499+0.046%$11.0M$13.3M50xas long as short
Bullet BTC-USD+0.0100%1h86,484+0.029%$237K$3.4M20xas long as short
Derive BTC-PERP+0.0100%1h86,479.5+0.024%$30.2M$60.5M15xas long as short
SunX BTC-USDT+0.0100%8h86,480.9+0.025%$3.4M$5.7M100xas long as short
Extended BTC-USD+0.0104%1h86,463.3+0.005%$47.8M$218.9M50xas long as short
Jupiter Perps WBTC-PERPL +0.0104% / S +0.0048%1h86,480.6+0.025%—$87.3M500xas long as short
Hyperliquid BTC+0.0154%1h86,571+0.130%$3.99B$4.76B40xas long as short
Coinbase International BTC-PERP-INTX+0.0168%1h86,514.2+0.064%$131.6M$5.89B50xas long as short
GMX BTC/USD [WBTC.b-USDC]L +0.0179% / S −0.0204%1h86,505.1+0.053%$14.5M—200xas long as short
Deribit BTC-PERPETUAL+0.0208%1h86,536.4+0.090%$932.2M$1.22B50xas long as short