data as of
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Price 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.

Spread before costs (cost unknown: a leg has no order-book sample)−0.156%
7d average+0.022%if it closes, per $10,000$16funding while held, a day+$0.00
Long on BackpackShort on Variational Omni
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongBackpack BTC_USDC_PERP85,977.40.0100pay 0.0013% / 1h7m 55s$40.4M$100.8M75x
ShortVariational Omni BTC85,843.50.0100get 0.0100% / 8h1h 07m$170.7M$477.0M—

Price spread history

latest
Range statsloading…

How often the spread is this wide

share of time at each level, last 7D

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

Profit calculator

Spread captured
−$15.57
Funding while held
$0
Slippage, 4 orders
no order book: not counted
Fee Backpack: 5 bp × 2 orders
−$10
Fee Variational Omni: 0 bp × 2 orders
$0
Net
−$25.57
Spread needed to break even
0.100%
Slippage unknown: Backpack: live order book, 3 min ago; Variational Omni: RFQ quote, 3 min ago. Net counts fees only.

Cost of waiting

funding view
Funding /8h
0.0000%
Per $10,000 a day
+$0.00
Average in range /8h
—

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, 3 min ago0.01 bp5.0 bp −$55.0 bp −$509.1 bp −$907doesn't fit
Sell Variational Omni RFQ quote, 3 min ago0.50 bpdoesn't fit0.5 bp −$52.9 bp −$293doesn't fit

BTC price on every exchange

against the cheapest. Click to use as the short leg.
edgeX85,674.5cheapestInjective85,748+0.086%Bulk85,787.3+0.132%
Variational Omni85,843.5+0.197%
Aftermath Perps85,869.2+0.227%ApeX Omni85,900.7+0.264%Phoenix85,907+0.271%Hotstuff85,921+0.288%Katana Perps85,929+0.297%01 Exchange85,943.1+0.314%Reya85,947.5+0.319%Popdex85,951+0.323%Nado85,951.1+0.323%MEXC85,955.3+0.328%Arcus85,961.1+0.335%Extended85,966.8+0.341%RISEx85,967.5+0.342%Polymarket Perps85,971+0.346%OKX85,971.4+0.347%Paradex85,971.6+0.347%Ondo Perps85,972+0.347%Jupiter Perps85,972.4+0.348%Perpl85,973.5+0.349%SoDEX85,974+0.350%HTX85,976.3+0.352%
Backpack85,977.4+0.354%
Lighter85,977.7+0.354%Bybit85,980+0.357%Phemex85,981+0.358%Gate85,984.3+0.362%BingX85,984.4+0.362%Aevo85,985.4+0.363%GMX85,986.3+0.364%Bullet85,988+0.366%Binance85,988.3+0.366%Lighter RH85,988.6+0.367%KuCoin85,991.3+0.370%SunX85,993.5+0.372%Kraken Futures85,994.5+0.374%Bitget85,994.5+0.374%Orderly85,999.5+0.379%Derive86,006.6+0.388%BloFin86,008.5+0.390%gTrade (Gains Network)86,012.5+0.395%StandX86,016+0.399%Coinbase International86,020+0.403%Aster86,022.9+0.407%Kalshi86,025+0.409%Bluefin86,026.4+0.411%dYdX86,026.5+0.411%Vest86,031+0.416%Pacifica86,035.9+0.422%Deribit86,067.5+0.459%Hibachi86,078+0.471%Hyperliquid86,094+0.490%

BTC on 55 venues

cheapest first. Swap a leg.
Exchangevs long legFunding /8hEveryOIVol 24hMax lev
edgeX BTCUSDC−0.352%−0.0118%4h$281.5M$829.6M100xas long as short
Injective BTC/USDC PERP−0.267%+0.0180%1h$303K$27.0M52xas long as short
Bulk BTC-USD−0.221%+0.0100%1h$538.1M$61.1M40xas long as short
Variational Omni BTCshort−0.156%+0.0100%8h$170.7M$477.0M—
Aftermath Perps BTCUSD−0.126%−0.0089%1h$87K$145K20xas long as short
ApeX Omni BTCUSDT−0.089%0.0000%1h$138.7M$317.0M100xas long as short
Phoenix BTC−0.082%+0.0015%1h$1.6M$10.8M40xas long as short
Hotstuff BTC-PERP−0.066%−0.0080%1h$8K$3K50xas long as short
Katana Perps BTC-USD−0.056%+0.0100%8h$191K$5.2M50xas long as short
01 Exchange BTCUSD−0.040%−0.0112%1h$279K$2.3M50xas long as short
Show all 55 venues
Exchangevs long legFunding /8hEveryOIVol 24hMax lev
Reya BTCRUSDPERP−0.035%−0.0027%1h$6.7M$137.4M40xas long as short
Popdex BTCUSDT−0.031%+0.0080%1h$8.5M$42.7M100xas long as short
Nado BTC-PERP−0.031%+0.0091%1h$23.3M$229.4M50xas long as short
MEXC BTC_USDT−0.026%+0.0082%8h$4.99B$4.91B500xas long as short
Arcus BTC-USD−0.019%+0.0100%1h$5.5M$80.1M40xas long as short
Extended BTC-USD−0.012%+0.0104%1h$48.1M$205.8M50xas long as short
RISEx BTC/USDC−0.011%+0.0178%1h$8.8M$38.1M25xas long as short
Polymarket Perps BTC-USD−0.007%+0.0100%1h$10.9M$11.1M50xas long as short
OKX BTC-USDT-SWAP−0.007%+0.0039%8h$2.58B$11.19B100xas long as short
Paradex BTC-USD-PERP−0.007%+0.0080%8h$4.4M$6.5M50xas long as short
Ondo Perps BTC-USD.P−0.006%+0.0100%1h$3.9M$15.9M25xas long as short
Jupiter Perps WBTC-PERP−0.006%L +0.0104% / S +0.0048%1h—$88.7M500xas long as short
Perpl BTC−0.005%−0.0223%43m$437K$30.6M6.7xas long as short
SoDEX BTC-USD−0.004%+0.0014%1h$61.3M$259.1M40xas long as short
HTX BTC-USDT−0.001%+0.0048%8h$2.30B$806.7M200xas long as short
Backpack BTC_USDC_PERPlong0.000%+0.0100%1h$40.4M$100.8M75x
Lighter BTC0.000%+0.0096%1h$179.4M$897.6M50xas long as short
Bybit BTCUSDT+0.003%+0.0100%8h$5.14B$8.23B150xas long as short
Phemex BTCUSDT+0.004%−0.0025%8h$157.4M$386.6M150xas long as short
Gate BTC_USDT+0.008%−0.0009%8h$6.12B$9.03B200xas long as short
BingX BTC-USDT+0.008%−0.0010%8h—$1.35B—as long as short
Aevo BTC-PERP+0.009%+0.0080%1h$2.4M$1.6M20xas long as short
GMX BTC/USD [WBTC.b-USDC]+0.010%L +0.0198% / S −0.0177%1h$12.5M—200xas long as short
Bullet BTC-USD+0.012%+0.0074%1h$245K$3.3M20xas long as short
Binance BTCUSDT+0.013%+0.0083%8h$9.58B$20.69B150xas long as short
Lighter RH BTC+0.013%+0.0096%1h$25.2M$138.0M50xas long as short
KuCoin XBTUSDTM+0.016%+0.0055%8h$786.2M$600.2M125xas long as short
SunX BTC-USDT+0.019%+0.0100%8h$3.3M$5.6M100xas long as short
Kraken Futures PF_XBTUSD+0.020%+0.0042%1h$185.9M$788.9M100xas long as short
Bitget BTCUSDT+0.020%−0.0010%8h$2.95B$4.50B150xas long as short
Orderly PERP_BTC_USDC+0.026%+0.0100%8h$2.4M$7.1M100xas long as short
Derive BTC-PERP+0.034%+0.0100%1h$29.5M$57.4M15xas long as short
BloFin BTC-USDT+0.036%+0.0203%8h$426.1M$506.1M150xas long as short
gTrade (Gains Network) BTC/USD+0.041%L +0.0005% / S −0.0004%1h$36.8M—200xas long as short
StandX BTC-USD+0.045%+0.0100%1h$30.8M$241.7M40xas long as short
Coinbase International BTC-PERP-INTX+0.050%+0.0112%1h$148.1M$6.25B50xas long as short
Aster BTCUSDT+0.053%+0.0044%8h$488.2M$1.08B200xas long as short
Kalshi KXBTCPERP+0.055%0.0000%8h$9.5M$535.2M6.4xas long as short
Bluefin BTC-PERP+0.057%−0.0058%1h$143K$403K40xas long as short
dYdX BTC-USD+0.057%−0.0009%1h$16.8M$16.3M50xas long as short
Vest BTC-PERP+0.062%+0.0100%1h—$13.3M50xas long as short
Pacifica BTC+0.068%+0.0100%1h$36.5M$331.3M50xas long as short
Deribit BTC-PERPETUAL+0.105%+0.0411%1h$869.7M$996.8M50xas long as short
Hibachi BTC/USDT-P+0.117%+0.0056%1h$618K$7.2M30xas long as short
Hyperliquid BTC+0.136%+0.0157%1h$3.89B$4.23B40xas long as short