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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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Funding you earn now, next payment 12:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.007%
Price spread now: OKX against Backpack+0.049%7-day average −0.022% · you sell dearer than you buy
Net, funding: paid 7d − costs−$7as in the Funding arb table
Net, price: spread back to 7d avg − costs−$13as in the Price arb table
costs, in and out, $10k−$200.200% of the position
Long on BackpackShort on OKX
What this pair did over the last
the charts below follow
Funding, last 7 days+0.135%+$14 on $10k
Price spread, last 7 days+0.300%+$30 · spread now +0.049%, 7d avg −0.022%
Together, before fees+0.435%+$43 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: OKX is 0.071% dearer against Backpack than usual: you sell high and buy low, +$7 on $10k if it goes back to its 7-day average of −0.022%.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongBackpack BTC_USDC_PERP85,992.20.0100pay 0.0013% / 1h9m 59s$39.3M$200.5M75x
ShortOKX BTC-USDT-SWAP86,034.60.0100get 0.0100% / 8h4h 09m$2.64B$9.01B100x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

OKX against Backpack. 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: +0.049% → −0.022%
$7.13
Slippage, 4 orders
−$0.02
Fee Backpack: 5 bp × 2 orders
−$10
Fee OKX: 5 bp × 2 orders
−$10
Net
−$12.89
Costs to cover
0.200%
Break-even
never at this rate
Slippage from Backpack: live order book, 2 min ago; OKX: live order book, 2 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 Backpack live order book, 2 min ago0.01 bp5.0 bp −$55.0 bp −$509.9 bp −$986doesn't fit
Sell OKX live order book, 2 min ago0.01 bp5.0 bp −$55.0 bp −$505.4 bp −$5366.6 bp −$3,325

BTC on 56 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
Perpl BTC−0.0223%43m86,038+0.053%$466K$13.2M6.7xas long as short
Phoenix BTC−0.0150%1h86,038+0.053%$2.1M$7.7M40xas long as short
Hotstuff BTC-PERP−0.0080%1h85,878−0.133%$8K$2K50xas long as short
BloFin BTC-USDT−0.0058%8h86,016.5+0.028%$421.0M$552.3M150xas long as short
SoDEX BTC-USD−0.0035%1h85,998+0.007%$65.9M$186.3M40xas long as short
01 Exchange BTCUSD−0.0032%1h86,024.5+0.038%$363K$1.8M50xas long as short
dYdX BTC-USD0.0000%1h86,034.5+0.049%$16.9M$13.2M50xas long as short
Injective BTC/USDC PERP+0.0001%1h86,020+0.032%$440K$32.4M52xas long as short
Aster BTCUSDT+0.0003%8h86,018+0.030%$510.4M$814.9M200xas long as short
gTrade (Gains Network) BTC/USDL +0.0004% / S −0.0004%1h86,015.4+0.027%$37.0M—200xas long as short
Show all 56 exchanges
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Kraken Futures PF_XBTUSD+0.0019%1h86,015.7+0.027%$193.6M$723.4M100xas long as short
Popdex BTCUSDT+0.0032%1h86,002+0.011%$8.6M$46.1M100xas long as short
Phemex BTCUSDT+0.0038%8h86,002+0.011%$173.2M$468.7M150xas long as short
KuCoin XBTUSDTM+0.0050%8h86,019.8+0.032%$952.3M$625.7M125xas long as short
BingX BTC-USDT+0.0050%8h86,029+0.043%—$1.27B—as long as short
Binance BTCUSDT+0.0061%8h86,022.2+0.035%$9.41B$19.84B150xas long as short
Bybit BTCUSDT+0.0061%8h86,031.4+0.046%$5.16B$7.92B150xas long as short
MEXC BTC_USDT+0.0061%8h86,022.2+0.035%$5.19B$4.77B500xas long as short
Aevo BTC-PERP+0.0064%1h85,984.3−0.009%$2.4M$6.8M20xas long as short
Gate BTC_USDT+0.0073%8h86,029.8+0.044%$5.52B$8.86B200xas long as short
Bitget BTCUSDT+0.0076%8h86,030.1+0.044%$3.00B$3.80B150xas long as short
Bullet BTC-USD+0.0079%1h86,003+0.013%$221K$3.2M20xas long as short
HTX BTC-USDT+0.0080%8h86,015.9+0.028%$2.27B$737.6M200xas long as short
Nado BTC-PERP+0.0090%1h86,005.1+0.015%$23.0M$188.9M50xas long as short
Variational Omni BTC+0.0092%8h85,989.7−0.003%$157.6M$474.7M—as long as short
Lighter BTC+0.0096%1h86,018.5+0.031%$174.1M$855.2M50xas long as short
Lighter RH BTC+0.0096%1h86,018.8+0.031%$23.8M$118.8M50xas long as short
Katana Perps BTC-USD+0.0100%8h85,981−0.013%$219K$8.1M50xas long as short
Paradex BTC-USD-PERP+0.0100%8h86,058.1+0.077%$5.7M$7.0M50xas long as short
Pacifica BTC+0.0100%1h86,059.1+0.078%$40.0M$566.0M50xas long as short
OKX BTC-USDT-SWAPshort+0.0100%8h86,034.6+0.049%$2.64B$9.01B100x
Ondo Perps BTC-USD.P+0.0100%1h86,024+0.037%$4.0M$14.7M25xas long as short
Arcus BTC-USD+0.0100%1h86,017.4+0.029%$4.7M$90.6M40xas long as short
Backpack BTC_USDC_PERPlong+0.0100%1h85,992.2long leg$39.3M$200.5M75x
edgeX BTCUSDC+0.0100%4h86,036.2+0.051%$289.8M$715.7M100xas long as short
GRVT BTC_USDT_Perp+0.0100%8h86,055.6+0.074%$216.2M$133.6M50xas long as short
ApeX Omni BTCUSDT+0.0100%1h86,092.3+0.116%$138.0M$284.5M100xas long as short
StandX BTC-USD+0.0100%1h86,004+0.014%$30.2M$227.5M40xas long as short
Vest BTC-PERP+0.0100%1h86,101.2+0.127%—$10.9M50xas long as short
Polymarket Perps BTC-USD+0.0100%1h85,998+0.007%$11.0M$11.8M50xas long as short
Orderly PERP_BTC_USDC+0.0100%8h85,9920.000%$2.6M$8.7M100xas long as short
Bluefin BTC-PERP+0.0100%1h86,026.8+0.040%$143K$608K40xas long as short
Derive BTC-PERP+0.0100%1h86,057.2+0.076%$29.1M$44.2M15xas long as short
SunX BTC-USDT+0.0100%8h86,004.3+0.014%$3.3M$6.8M100xas long as short
Bulk BTC-USD+0.0100%1h86,063.9+0.083%$717.2M$65.2M40xas long as short
Extended BTC-USD+0.0104%1h86,001.3+0.011%$47.4M$181.3M50xas long as short
Jupiter Perps WBTC-PERPL +0.0104% / S +0.0056%1h86,033.6+0.048%—$76.5M500xas long as short
Coinbase International BTC-PERP-INTX+0.0128%1h86,035.7+0.051%$113.0M$4.96B50xas long as short
Deribit BTC-PERPETUAL+0.0134%1h86,050.4+0.068%$818.6M$1.47B50xas long as short
Hyperliquid BTC+0.0154%1h86,096+0.121%$3.98B$4.16B40xas long as short
Kalshi KXBTCPERP+0.0158%8h86,039+0.054%$13.1M$731.4M6.4xas long as short
RISEx BTC/USDC+0.0165%1h86,034.9+0.050%$9.0M$35.3M25xas long as short
Reya BTCRUSDPERP+0.0178%1h85,983.1−0.011%$6.6M$121.4M40xas long as short
GMX BTC/USD [WBTC.b-USDC]L +0.0211% / S −0.0245%1h86,012.8+0.024%$15.8M—200xas long as short
Aftermath Perps BTCUSD+0.0263%1h86,045.3+0.062%$80K$221K20xas long as short
Hibachi BTC/USDT-P+0.0288%1h86,066.7+0.087%$690K$6.8M30xas long as short