data as of
Settings8H · net · $10k
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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.

After costs, if the gap returns to its 7d average, $10k−$23
spread now+0.012%7d average+0.054%fees + slippage, in and out−$19spread needed0.193%
Long on BluefinShort on Phoenix
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongBluefin BTC-PERP85,888.40.0100pay 0.0013% / 1h25m 23s$143K$411K40x
ShortPhoenix BTC85,899−0.0082pay 0.0010% / 1h25m 23s$2.0M$11.0M40x

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
$1.23
Funding while held
−$5.46
Slippage, 4 orders
−$5.27
Fee Bluefin: 3.5 bp × 2 orders
−$7
Fee Phoenix: 3.5 bp × 2 orders
−$7
Net
−$23.5
Spread needed to break even
0.193%
Slippage from Bluefin: live order book, 5 min ago; Phoenix: live order book, 5 min ago.

Cost of waiting

funding view
Funding /8h
−0.0182%
Per $10,000 a day
−$5.46
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, 5 min ago1.16 bp5.8 bp −$610.3 bp −$103doesn't fitdoesn't fit
Sell Phoenix live order book, 5 min ago0.06 bp3.7 bp −$46.1 bp −$6111.2 bp −$1,115doesn't fit

BTC price on every exchange

against the cheapest. Click to use as the short leg.
Binance85,849.3cheapestGate85,851.3+0.002%BingX85,854+0.005%Extended85,855.1+0.007%Bullet85,855.4+0.007%Bitget85,856.2+0.008%Bybit85,857.3+0.009%MEXC85,859.3+0.012%Aevo85,860+0.012%KuCoin85,860.8+0.013%HTX85,860.9+0.014%Reya85,862.2+0.015%Popdex85,864+0.017%Katana Perps85,871+0.025%Nado85,871.1+0.025%Aster85,871.9+0.026%OKX85,871.9+0.026%Orderly85,874.6+0.029%SunX85,875.6+0.031%Ondo Perps85,878+0.033%BloFin85,879.2+0.035%Polymarket Perps85,882+0.038%SoDEX85,882+0.038%Hotstuff85,887+0.044%Arcus85,887.1+0.044%Perpl85,888.4+0.046%
Bluefin85,888.4+0.046%
Lighter85,889.6+0.047%RISEx85,889.6+0.047%edgeX85,889.7+0.047%gTrade (Gains Network)85,890.2+0.048%Bulk85,890.4+0.048%Lighter RH85,891.3+0.049%GMX85,891.9+0.050%Pacifica85,891.9+0.050%Phemex85,895.7+0.054%Backpack85,896.7+0.055%01 Exchange85,897.5+0.056%Variational Omni85,897.9+0.057%
Phoenix85,899+0.058%
StandX85,900+0.059%Derive85,906+0.066%Paradex85,907.7+0.068%ApeX Omni85,908+0.068%Vest85,915.8+0.077%Jupiter Perps85,916.3+0.078%Kraken Futures85,928.7+0.092%Hibachi85,930.7+0.095%Aftermath Perps85,938.2+0.104%Kalshi85,939+0.104%dYdX85,946.9+0.114%Coinbase International85,957.5+0.126%Hyperliquid85,958+0.127%Deribit85,964.4+0.134%Injective86,066+0.252%

BTC on 55 venues

cheapest first. Swap a leg.
Exchangevs long legFunding /8hEveryOIVol 24hMax lev
Binance BTCUSDT−0.046%+0.0029%8h$9.52B$22.12B150xas long as short
Gate BTC_USDT−0.043%+0.0035%8h$6.06B$9.65B200xas long as short
BingX BTC-USDT−0.040%+0.0002%8h—$1.37B—as long as short
Extended BTC-USD−0.039%+0.0096%1h$48.6M$200.5M50xas long as short
Bullet BTC-USD−0.038%+0.0100%1h$231K$3.3M20xas long as short
Bitget BTCUSDT−0.037%+0.0002%8h$2.96B$4.68B150xas long as short
Bybit BTCUSDT−0.036%+0.0041%8h$5.28B$8.67B150xas long as short
MEXC BTC_USDT−0.034%+0.0029%8h$5.15B$5.12B500xas long as short
Aevo BTC-PERP−0.033%+0.0032%1h$2.4M$1.3M20xas long as short
KuCoin XBTUSDTM−0.032%−0.0009%8h$806.9M$620.8M125xas long as short
Show all 55 venues
Exchangevs long legFunding /8hEveryOIVol 24hMax lev
HTX BTC-USDT−0.032%+0.0046%8h$2.29B$848.4M200xas long as short
Reya BTCRUSDPERP−0.031%−0.0016%1h$6.7M$138.4M40xas long as short
Popdex BTCUSDT−0.028%+0.0048%1h$8.5M$46.3M100xas long as short
Katana Perps BTC-USD−0.020%+0.0100%8h$192K$5.9M50xas long as short
Nado BTC-PERP−0.020%+0.0100%1h$23.1M$226.9M50xas long as short
Aster BTCUSDT−0.019%+0.0016%8h$506.2M$1.10B200xas long as short
OKX BTC-USDT-SWAP−0.019%+0.0031%8h$2.67B$11.58B100xas long as short
Orderly PERP_BTC_USDC−0.016%+0.0095%8h$2.4M$7.4M100xas long as short
SunX BTC-USDT−0.015%+0.0100%8h$3.4M$5.7M100xas long as short
Ondo Perps BTC-USD.P−0.012%+0.0100%1h$4.0M$17.3M25xas long as short
BloFin BTC-USDT−0.011%−0.0091%8h$424.5M$567.3M150xas long as short
Polymarket Perps BTC-USD−0.007%+0.0100%1h$11.0M$12.3M50xas long as short
SoDEX BTC-USD−0.007%−0.0012%1h$60.9M$285.4M40xas long as short
Hotstuff BTC-PERP−0.002%−0.0080%1h$9K$4K50xas long as short
Arcus BTC-USD−0.002%−0.0299%1h$6.7M$86.2M40xas long as short
Perpl BTC0.000%−0.0447%43m$403K$26.1M6.7xas long as short
Bluefin BTC-PERPlong0.000%+0.0100%1h$143K$411K40x
Lighter BTC+0.001%+0.0096%1h$171.8M$951.1M50xas long as short
RISEx BTC/USDC+0.001%+0.0031%1h$9.1M$38.7M25xas long as short
edgeX BTCUSDC+0.001%+0.0100%4h$280.7M$881.5M100xas long as short
gTrade (Gains Network) BTC/USD+0.002%L +0.0005% / S −0.0004%1h$36.7M—200xas long as short
Bulk BTC-USD+0.002%+0.0010%1h$563.2M$127.1M40xas long as short
Lighter RH BTC+0.003%+0.0096%1h$24.5M$138.5M50xas long as short
GMX BTC/USD [WBTC.b-USDC]+0.004%L +0.0172% / S −0.0153%1h$12.7M—200xas long as short
Pacifica BTC+0.004%+0.0100%1h$36.9M$418.4M50xas long as short
Phemex BTCUSDT+0.008%+0.0016%8h$152.2M$424.7M150xas long as short
Backpack BTC_USDC_PERP+0.010%+0.0100%1h$37.4M$135.1M75xas long as short
01 Exchange BTCUSD+0.011%−0.0048%1h$311K$2.3M50xas long as short
Variational Omni BTC+0.011%+0.0074%8h$170.0M$506.6M—as long as short
Phoenix BTCshort+0.012%−0.0082%1h$2.0M$11.0M40x
StandX BTC-USD+0.014%+0.0100%1h$30.7M$212.8M40xas long as short
Derive BTC-PERP+0.020%+0.0100%1h$30.4M$58.9M15xas long as short
Paradex BTC-USD-PERP+0.022%+0.0099%8h$4.4M$6.9M50xas long as short
ApeX Omni BTCUSDT+0.023%+0.0027%1h$140.0M$320.5M100xas long as short
Vest BTC-PERP+0.032%+0.0100%1h—$11.5M50xas long as short
Jupiter Perps WBTC-PERP+0.032%L +0.0104% / S +0.0048%1h—$83.3M500xas long as short
Kraken Futures PF_XBTUSD+0.047%−0.0019%1h$188.9M$817.5M100xas long as short
Hibachi BTC/USDT-P+0.049%+0.0080%1h$752K$6.5M30xas long as short
Aftermath Perps BTCUSD+0.058%+0.0001%1h$87K$157K20xas long as short
Kalshi KXBTCPERP+0.059%0.0000%8h$11.7M$656.3M6.4xas long as short
dYdX BTC-USD+0.068%−0.0003%1h$17.2M$17.7M50xas long as short
Coinbase International BTC-PERP-INTX+0.080%+0.0200%1h$129.9M$5.84B50xas long as short
Hyperliquid BTC+0.081%+0.0157%1h$3.96B$4.50B40xas long as short
Deribit BTC-PERPETUAL+0.088%+0.0142%1h$915.7M$1.11B50xas long as short
Injective BTC/USDC PERP+0.207%−0.0006%1h$309K$27.0M52xas long as short