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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 00:00 UTC+0.0027%/8h= +3.0% APRpaid last 24h −0.001%
Price spread now: Arcus against Binance+0.040%7-day average +0.031% · you sell dearer than you buy
Net, funding: paid 7d − costs—under 7 days of funding history
Net, price: spread back to 7d avg − costs−$14as in the Price arb table
costs, in and out, $10k−$150.152% of the position
Long on BinanceShort on Arcus
What this pair did over the last
the charts below follow
Funding, last 3 days (all we have)+0.009%+$1 on $10k
Price spread, last 7 days−0.027%−$3 · spread now +0.040%, 7d avg +0.031%
Together, before fees−0.018%−$2 on $10k · with fees, hour by hour
The price spread sits at its 7-day average of +0.031%, so right now this pair is about funding alone: +$1 a day on $10k at the current rate.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongBinance BTCUSDT86,576.50.0073pay 0.0073% / 8h42m 40s$9.43B$24.58B150x
ShortArcus BTC-USD86,610.90.0100get 0.0013% / 1h42m 40s$7.6M$95.1M40x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Arcus against Binance. 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
$5.77
Price spread: +0.040% → +0.031%
$0.86
Slippage, 4 orders
−$0.72
Fee Binance: 5 bp × 2 orders
−$10
Fee Arcus: 2.25 bp × 2 orders
−$4.5
Net
−$8.59
Costs to cover
0.152%
Break-even
17.4 days
Slippage from Binance: live order book, 17 min ago; Arcus: 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 Binance live order book, 17 min ago0.01 bp5.0 bp −$55.0 bp −$505.1 bp −$5116.5 bp −$3,233
Sell Arcus live order book, 2 min ago0.01 bp3.0 bp −$33.2 bp −$323.8 bp −$378doesn'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−0.0118%1h86,580+0.004%$2.2M$11.8M40xas long as short
Hotstuff BTC-PERP−0.0080%1h86,574−0.003%$9K$3K50xas long as short
Injective BTC/USDC PERP−0.0035%1h86,568−0.010%$333K$26.8M52xas long as short
RISEx BTC/USDC−0.0024%1h86,586.6+0.012%$8.3M$42.9M25xas long as short
01 Exchange BTCUSD−0.0024%1h86,589.2+0.015%$361K$2.5M50xas long as short
Deribit BTC-PERPETUAL0.0000%1h86,600.4+0.028%$916.4M$1.49B50xas long as short
Aster BTCUSDT0.0000%8h86,587+0.012%$502.4M$1.15B200xas long as short
gTrade (Gains Network) BTC/USDL +0.0005% / S −0.0004%1h86,621.5+0.052%$36.9M—200xas long as short
KuCoin XBTUSDTM+0.0012%8h86,591.5+0.017%$851.4M$715.0M125xas long as short
dYdX BTC-USD+0.0026%1h86,630.3+0.062%$17.0M$21.1M50xas long as short
Show all 56 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Reya BTCRUSDPERP+0.0027%1h86,600.9+0.028%$6.7M$145.4M40xas long as short
BingX BTC-USDT+0.0042%8h86,574.8−0.002%—$1.59B—as long as short
Phemex BTCUSDT+0.0043%8h86,604.8+0.033%$150.5M$479.6M150xas long as short
Bitget BTCUSDT+0.0052%8h86,570.9−0.006%$2.96B$5.12B150xas long as short
MEXC BTC_USDT+0.0072%8h86,574.8−0.002%$5.15B$5.64B500xas long as short
Aevo BTC-PERP+0.0072%1h86,591.9+0.018%$2.4M$1.3M20xas long as short
Binance BTCUSDTlong+0.0073%8h86,576.5long leg$9.43B$24.58B150x
Gate BTC_USDT+0.0082%8h86,572.5−0.005%$5.88B$10.74B200xas long as short
SoDEX BTC-USD+0.0089%1h86,565−0.013%$60.5M$337.7M40xas long as short
Lighter BTC+0.0096%1h86,578.7+0.003%$170.5M$1.01B50xas long as short
Lighter RH BTC+0.0096%1h86,595.4+0.022%$24.1M$151.8M50xas long as short
Popdex BTCUSDT+0.0096%1h86,575−0.002%$8.5M$52.6M100xas long as short
Katana Perps BTC-USD+0.0100%8h86,563−0.016%$200K$7.0M50xas long as short
Paradex BTC-USD-PERP+0.0100%8h86,615.4+0.045%$4.8M$8.5M50xas long as short
Bybit BTCUSDT+0.0100%8h86,568.5−0.009%$5.27B$9.82B150xas long as short
Nado BTC-PERP+0.0100%1h86,633.9+0.066%$22.0M$234.8M50xas long as short
Hyperliquid BTC+0.0100%1h86,651+0.086%$3.80B$5.11B40xas long as short
Pacifica BTC+0.0100%1h86,614.4+0.044%$40.8M$524.0M50xas long as short
OKX BTC-USDT-SWAP+0.0100%8h86,575.2−0.001%$2.55B$12.76B100xas long as short
Ondo Perps BTC-USD.P+0.0100%1h86,603+0.031%$3.9M$18.6M25xas long as short
Arcus BTC-USDshort+0.0100%1h86,610.9+0.040%$7.6M$95.1M40x
Bulk BTC-USD+0.0100%1h86,560.7−0.018%$572.5M$17.8M40xas long as short
Backpack BTC_USDC_PERP+0.0100%1h86,564.1−0.014%$38.4M$156.0M75xas long as short
Variational Omni BTC+0.0100%8h86,628.8+0.060%$157.3M$569.4M—as long as short
edgeX BTCUSDC+0.0100%4h86,643+0.077%$279.9M$948.2M100xas long as short
GRVT BTC_USDT_Perp+0.0100%8h86,648.3+0.083%$217.6M$172.0M50xas long as short
ApeX Omni BTCUSDT+0.0100%1h86,662+0.099%$141.6M$323.3M100xas long as short
StandX BTC-USD+0.0100%1h86,624.8+0.056%$30.7M$204.6M40xas long as short
Vest BTC-PERP+0.0100%1h86,656.8+0.093%—$11.9M50xas long as short
Polymarket Perps BTC-USD+0.0100%1h86,601+0.028%$11.1M$13.8M50xas long as short
Bullet BTC-USD+0.0100%1h86,601.5+0.029%$190K$3.3M20xas long as short
Orderly PERP_BTC_USDC+0.0100%8h86,585.4+0.010%$2.4M$8.9M100xas long as short
Bluefin BTC-PERP+0.0100%1h86,609.1+0.038%$140K$663K40xas long as short
Derive BTC-PERP+0.0100%1h86,604+0.032%$30.6M$62.6M15xas long as short
SunX BTC-USDT+0.0100%8h86,626+0.057%$3.4M$5.4M100xas long as short
HTX BTC-USDT+0.0100%8h86,550.6−0.030%$2.30B$970.5M200xas long as short
Extended BTC-USD+0.0104%1h86,555.8−0.024%$45.5M$227.1M50xas long as short
Jupiter Perps WBTC-PERPL +0.0104% / S +0.0048%1h86,617.7+0.048%—$98.9M500xas long as short
Kraken Futures PF_XBTUSD+0.0110%1h86,587.4+0.013%$193.5M$951.7M100xas long as short
Perpl BTC+0.0112%43m86,627.7+0.059%$419K$23.2M6.7xas long as short
Coinbase International BTC-PERP-INTX+0.0112%1h86,607.1+0.035%$132.8M$5.68B50xas long as short
Aftermath Perps BTCUSD+0.0117%1h86,627.6+0.059%$79K$219K20xas long as short
Hibachi BTC/USDT-P+0.0184%1h86,688.4+0.129%$729K$8.1M30xas long as short
GMX BTC/USD [WBTC.b-USDC]L +0.0192% / S −0.0216%1h86,615.2+0.045%$15.1M—200xas long as short
BloFin BTC-USDT+0.0193%8h86,567.3−0.011%$413.7M$658.7M150xas long as short
Kalshi KXBTCPERP+0.0209%8h86,641+0.075%$9.7M$743.3M6.4xas long as short