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Funding arb · Price arb /

BTC

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Alert: funding
Measured
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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.

Alert: spread
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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 you earn now, next payment 01:00 UTC−0.0006%/8h= −0.6% APRpaid last 24h −0.009%
Price spread now: Phemex against Aevo+0.013%7-day average +0.015% · you sell dearer than you buy
Net, funding: paid 7d − costs−$33as in the Funding arb table
Net, price: spread back to 7d avg − costs−$30as in the Price arb table
costs, in and out, $10k−$290.295% of the position
Long on AevoShort on Phemex
What this pair did over the last
the charts below follow
Funding, last 7 days−0.039%−$4 on $10k
Price spread, last 3 days (all we have)−0.013%−$1 · spread now +0.013%, 7d avg +0.015%
Together, before fees−0.052%−$5 on $10k · with fees, hour by hour
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongAevo BTC-PERP86,370.30.0080pay 0.0010% / 1h29m 50s$2.5M$1.7M20x
ShortPhemex BTCUSDT86,381.20.0074get 0.0074% / 8h7h 29m$154.3M$473.6M150x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Phemex against Aevo. 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
−$1.23
Price spread: +0.013% → +0.015%
−$0.23
Slippage, 4 orders
−$1.5
Fee Aevo: 8 bp × 2 orders
−$16
Fee Phemex: 6 bp × 2 orders
−$12
Net
−$30.95
Costs to cover
0.295%
Break-even
never at this rate
Slippage from Aevo: live order book, 4 min ago; Phemex: live order book, 4 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 Aevo live order book, 4 min ago0.02 bp9.2 bp −$910.6 bp −$10613.2 bp −$1,321doesn't fit
Sell Phemex live order book, 4 min ago0.01 bp6.0 bp −$66.6 bp −$667.9 bp −$795doesn'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
Bluefin BTC-PERP−0.0419%1h86,411.7+0.048%$144K$666K40xas long as short
Phoenix BTC−0.0129%1h86,337−0.039%$2.2M$11.2M40xas long as short
Hotstuff BTC-PERP−0.0080%1h86,381+0.012%$9K$3K50xas long as short
01 Exchange BTCUSD−0.0032%1h86,376.4+0.007%$361K$2.4M50xas long as short
Perpl BTC0.0000%43m86,391.9+0.025%$482K$21.6M6.7xas long as short
gTrade (Gains Network) BTC/USDL +0.0005% / S −0.0004%1h86,392+0.025%$36.9M—200xas long as short
Aster BTCUSDT+0.0022%8h86,398.2+0.032%$501.1M$1.14B200xas long as short
Injective BTC/USDC PERP+0.0023%1h86,358−0.014%$343K$26.9M52xas long as short
dYdX BTC-USD+0.0026%1h86,374.9+0.005%$16.9M$20.5M50xas long as short
KuCoin XBTUSDTM+0.0041%8h86,413.6+0.050%$831.8M$720.7M125xas long as short
Show all 56 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Reya BTCRUSDPERP+0.0045%1h86,359.6−0.012%$6.7M$145.7M40xas long as short
BingX BTC-USDT+0.0050%8h86,413.4+0.050%—$1.57B—as long as short
RISEx BTC/USDC+0.0052%1h86,376.6+0.007%$8.3M$42.5M25xas long as short
Deribit BTC-PERPETUAL+0.0061%1h86,419.2+0.057%$902.6M$1.51B50xas long as short
Bitget BTCUSDT+0.0063%8h86,376.9+0.008%$2.97B$5.04B150xas long as short
Phemex BTCUSDTshort+0.0074%8h86,381.2+0.013%$154.3M$473.6M150x
MEXC BTC_USDT+0.0077%8h86,408.7+0.044%$5.13B$5.70B500xas long as short
Binance BTCUSDT+0.0077%8h86,404.3+0.039%$9.42B$24.30B150xas long as short
Aevo BTC-PERPlong+0.0080%1h86,370.3long leg$2.5M$1.7M20x
HTX BTC-USDT+0.0081%8h86,365.3−0.006%$2.29B$964.6M200xas long as short
Lighter BTC+0.0096%1h86,401.4+0.036%$170.5M$985.7M50xas long as short
Lighter RH BTC+0.0096%1h86,402.1+0.037%$23.7M$149.3M50xas long as short
Popdex BTCUSDT+0.0096%1h86,364−0.007%$8.4M$51.9M100xas long as short
SoDEX BTC-USD+0.0097%1h86,380+0.011%$60.4M$338.2M40xas long as short
Katana Perps BTC-USD+0.0100%8h86,346−0.028%$202K$7.2M50xas long as short
Paradex BTC-USD-PERP+0.0100%8h86,385.4+0.017%$4.2M$8.6M50xas long as short
Nado BTC-PERP+0.0100%1h86,375.1+0.005%$22.0M$228.1M50xas long as short
Hyperliquid BTC+0.0100%1h86,444+0.085%$3.79B$5.00B40xas long as short
Pacifica BTC+0.0100%1h86,398.9+0.033%$40.7M$551.7M50xas long as short
Bybit BTCUSDT+0.0100%8h86,399.7+0.034%$5.26B$9.66B150xas long as short
OKX BTC-USDT-SWAP+0.0100%8h86,395.6+0.029%$2.57B$12.49B100xas long as short
Ondo Perps BTC-USD.P+0.0100%1h86,385+0.017%$3.9M$17.9M25xas long as short
Arcus BTC-USD+0.0100%1h86,390.8+0.024%$7.2M$94.9M40xas long as short
Bulk BTC-USD+0.0100%1h86,348−0.026%$573.1M$19.8M40xas long as short
Gate BTC_USDT+0.0100%8h86,412.6+0.049%$5.80B$10.54B200xas long as short
Backpack BTC_USDC_PERP+0.0100%1h86,399.7+0.034%$37.5M$157.4M75xas long as short
Variational Omni BTC+0.0100%8h86,377.3+0.008%$158.2M$561.5M—as long as short
edgeX BTCUSDC+0.0100%4h86,352.6−0.021%$278.9M$950.7M100xas long as short
GRVT BTC_USDT_Perp+0.0100%8h86,334.3−0.042%$216.8M$165.6M50xas long as short
ApeX Omni BTCUSDT+0.0100%1h86,356.3−0.016%$141.6M$321.1M100xas long as short
StandX BTC-USD+0.0100%1h86,327−0.050%$30.6M$209.6M40xas long as short
Vest BTC-PERP+0.0100%1h86,409.2+0.045%—$11.8M50xas long as short
Polymarket Perps BTC-USD+0.0100%1h86,366−0.005%$11.1M$14.1M50xas long as short
Bullet BTC-USD+0.0100%1h86,375.6+0.006%$192K$3.3M20xas long as short
Orderly PERP_BTC_USDC+0.0100%8h86,374.1+0.004%$2.4M$8.9M100xas long as short
Derive BTC-PERP+0.0100%1h86,403.8+0.039%$30.5M$58.1M15xas long as short
SunX BTC-USDT+0.0100%8h86,359.4−0.013%$3.4M$5.2M100xas long as short
Extended BTC-USD+0.0104%1h86,394.8+0.028%$45.9M$222.0M50xas long as short
Jupiter Perps WBTC-PERPL +0.0104% / S +0.0048%1h86,380.1+0.011%—$98.5M500xas long as short
Coinbase International BTC-PERP-INTX+0.0120%1h86,425.8+0.064%$132.2M$5.40B50xas long as short
Kraken Futures PF_XBTUSD+0.0121%1h86,413.4+0.050%$192.4M$942.2M100xas long as short
Aftermath Perps BTCUSD+0.0166%1h86,401.9+0.037%$77K$217K20xas long as short
Hibachi BTC/USDT-P+0.0168%1h86,433.2+0.073%$711K$7.9M30xas long as short
BloFin BTC-USDT+0.0197%8h86,370.50.000%$415.9M$645.9M150xas long as short
GMX BTC/USD [WBTC.b-USDC]L +0.0205% / S −0.0219%1h86,389.4+0.022%$14.5M—200xas long as short
Kalshi KXBTCPERP+0.0209%8h86,398+0.032%$10.2M$763.5M6.4xas long as short