data as of
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Price arb /

BTC

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Spread before costs (cost unknown: a leg has no order-book sample)+0.042%
7d average+0.052%if it closes, per $10,000$4funding while held, a day+$242.78
Long on BluefinShort on Paradex
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongBluefin BTC-PERP85,894.9−0.8000get 0.1000% / 1h42m 11s$143K$408K40x
ShortParadex BTC-USD-PERP85,930.90.0093get 0.0093% / 8h7h 42m$4.4M$6.7M50x

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
$4.19
Funding while held
$242.78
Slippage, 4 orders
no order book: not counted
Fee Bluefin: 3.5 bp × 2 orders
−$7
Fee Paradex: 2 bp × 2 orders
−$4
Net
$235.97
Spread needed to break even
0.110%
Slippage unknown: Bluefin: live order book, 3 min ago; Paradex: live order book, 3 min ago. Net counts fees only.

Cost of waiting

funding view
Funding /8h
+0.8093%
Per $10,000 a day
+$242.78
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 Bluefin live order book, 3 min ago949.33 bpdoesn't fitdoesn't fitdoesn't fitdoesn't fit
Sell Paradex live order book, 3 min ago0.82 bp2.8 bp −$32.8 bp −$28doesn't fitdoesn't fit

BTC price on every exchange

against the cheapest. Click to use as the short leg.
Bulk85,670.4cheapestVariational Omni85,690.4+0.023%ApeX Omni85,703.9+0.039%StandX85,718+0.056%edgeX85,726.6+0.066%Hibachi85,737.2+0.078%Aftermath Perps85,804.2+0.156%BloFin85,809.6+0.162%OKX85,816.6+0.171%MEXC85,826.2+0.182%Phemex85,826.5+0.182%Bitget85,828.1+0.184%Bybit85,828.5+0.185%BingX85,829+0.185%SoDEX85,829+0.185%KuCoin85,830+0.186%HTX85,830.3+0.187%Derive85,832.1+0.189%Backpack85,833.5+0.190%Extended85,834+0.191%Binance85,834.9+0.192%Aevo85,835.8+0.193%Lighter RH85,839.2+0.197%Gate85,843+0.201%Lighter85,846.3+0.205%Phoenix85,851+0.211%Injective85,856+0.217%Nado85,863+0.225%Arcus85,866.2+0.229%Kraken Futures85,870.1+0.233%Orderly85,871.1+0.234%Bullet85,879+0.243%Reya85,881.5+0.246%
Bluefin85,894.9+0.262%
Pacifica85,897.2+0.265%Deribit85,901+0.269%SunX85,902.6+0.271%GMX85,904.5+0.273%Katana Perps85,905+0.274%Perpl85,905.7+0.275%Hotstuff85,906+0.275%Aster85,906.3+0.275%gTrade (Gains Network)85,907.2+0.276%Kalshi85,914+0.284%dYdX85,914.6+0.285%Jupiter Perps85,919.8+0.291%Hyperliquid85,925+0.297%Vest85,927.1+0.300%
Paradex85,930.9+0.304%
Polymarket Perps85,931+0.304%Ondo Perps85,932+0.305%Popdex85,936+0.310%Coinbase International85,941.9+0.317%01 Exchange85,946.2+0.322%RISEx85,948.2+0.324%

BTC on 55 venues

cheapest first. Swap a leg.
Exchangevs long legFunding /8hEveryOIVol 24hMax lev
Bulk BTC-USD−0.261%+0.0040%1h$557.2M$154.9M40xas long as short
Variational Omni BTC−0.238%+0.0088%8h$171.1M$507.1M—as long as short
ApeX Omni BTCUSDT−0.222%−0.0238%1h$139.1M$317.7M100xas long as short
StandX BTC-USD−0.206%+0.0074%1h$30.6M$229.3M40xas long as short
edgeX BTCUSDC−0.196%+0.0100%4h$277.8M$889.3M100xas long as short
Hibachi BTC/USDT-P−0.184%+0.0184%1h$717K$7.4M30xas long as short
Aftermath Perps BTCUSD−0.106%+0.0026%1h$87K$152K20xas long as short
BloFin BTC-USDT−0.099%−0.0074%8h$424.7M$567.2M150xas long as short
OKX BTC-USDT-SWAP−0.091%+0.0020%8h$2.65B$11.65B100xas long as short
MEXC BTC_USDT−0.080%+0.0045%8h$5.10B$5.18B500xas long as short
Show all 55 venues
Exchangevs long legFunding /8hEveryOIVol 24hMax lev
Phemex BTCUSDT−0.080%−0.0115%8h$149.6M$411.4M150xas long as short
Bitget BTCUSDT−0.078%−0.0004%8h$2.98B$4.70B150xas long as short
Bybit BTCUSDT−0.077%+0.0016%8h$5.23B$8.60B150xas long as short
BingX BTC-USDT−0.077%−0.0015%8h—$1.39B—as long as short
SoDEX BTC-USD−0.077%−0.0034%1h$60.9M$283.6M40xas long as short
KuCoin XBTUSDTM−0.076%+0.0014%8h$792.1M$616.2M125xas long as short
HTX BTC-USDT−0.075%+0.0100%8h$2.29B$843.1M200xas long as short
Derive BTC-PERP−0.073%+0.0100%1h$30.2M$59.4M15xas long as short
Backpack BTC_USDC_PERP−0.071%+0.0100%1h$37.4M$115.2M75xas long as short
Extended BTC-USD−0.071%+0.0080%1h$48.9M$206.8M50xas long as short
Binance BTCUSDT−0.070%+0.0046%8h$9.49B$22.07B150xas long as short
Aevo BTC-PERP−0.069%+0.0048%1h$2.4M$1.5M20xas long as short
Lighter RH BTC−0.065%+0.0096%1h$24.5M$133.7M50xas long as short
Gate BTC_USDT−0.060%+0.0044%8h$6.09B$9.38B200xas long as short
Lighter BTC−0.057%+0.0096%1h$171.6M$914.4M50xas long as short
Phoenix BTC−0.051%−0.0116%1h$1.8M$11.4M40xas long as short
Injective BTC/USDC PERP−0.045%−0.0137%1h$308K$27.0M52xas long as short
Nado BTC-PERP−0.037%+0.0100%1h$23.3M$228.8M50xas long as short
Arcus BTC-USD−0.033%+0.0100%1h$6.4M$84.2M40xas long as short
Kraken Futures PF_XBTUSD−0.029%−0.0040%1h$188.3M$822.2M100xas long as short
Orderly PERP_BTC_USDC−0.028%+0.0100%8h$2.4M$7.3M100xas long as short
Bullet BTC-USD−0.019%+0.0100%1h$237K$3.3M20xas long as short
Reya BTCRUSDPERP−0.016%−0.0020%1h$6.7M$138.0M40xas long as short
Bluefin BTC-PERPlong0.000%−0.8000%1h$143K$408K40x
Pacifica BTC+0.003%+0.0100%1h$37.0M$364.7M50xas long as short
Deribit BTC-PERPETUAL+0.007%+0.0084%1h$911.1M$1.12B50xas long as short
SunX BTC-USDT+0.009%+0.0100%8h$3.3M$6.1M100xas long as short
GMX BTC/USD [WBTC.b-USDC]+0.011%L +0.0198% / S −0.0175%1h$12.4M—200xas long as short
Katana Perps BTC-USD+0.012%+0.0100%8h$191K$5.6M50xas long as short
Perpl BTC+0.013%−0.0335%43m$405K$28.8M6.7xas long as short
Hotstuff BTC-PERP+0.013%−0.0080%1h$9K$4K50xas long as short
Aster BTCUSDT+0.013%+0.0032%8h$487.0M$1.13B200xas long as short
gTrade (Gains Network) BTC/USD+0.014%L +0.0005% / S −0.0004%1h$36.8M—200xas long as short
Kalshi KXBTCPERP+0.022%+0.0101%8h$13.9M$598.3M6.4xas long as short
dYdX BTC-USD+0.023%0.0000%1h$17.3M$17.5M50xas long as short
Jupiter Perps WBTC-PERP+0.029%L +0.0104% / S +0.0048%1h—$89.1M500xas long as short
Hyperliquid BTC+0.035%+0.0135%1h$3.90B$4.46B40xas long as short
Vest BTC-PERP+0.037%+0.0100%1h—$11.9M50xas long as short
Paradex BTC-USD-PERPshort+0.042%+0.0093%8h$4.4M$6.7M50x
Polymarket Perps BTC-USD+0.042%+0.0100%1h$11.0M$11.6M50xas long as short
Ondo Perps BTC-USD.P+0.043%+0.0100%1h$3.9M$16.3M25xas long as short
Popdex BTCUSDT+0.048%+0.0056%1h$8.5M$45.7M100xas long as short
Coinbase International BTC-PERP-INTX+0.055%+0.0112%1h$128.8M$6.21B50xas long as short
01 Exchange BTCUSD+0.060%−0.0056%1h$292K$2.4M50xas long as short
RISEx BTC/USDC+0.062%+0.0132%1h$8.7M$38.5M25xas long as short