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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 23:00 UTC+0.0008%/8h= +0.9% APRpaid last 24h −0.009%
Price spread now: Arcus against Bybit+0.061%7-day average +0.032% · 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−$13as in the Price arb table
costs, in and out, $10k−$160.162% of the position
Long on BybitShort on Arcus
What this pair did over the last
the charts below follow
Funding, last 3 days (all we have)+0.005%+$1 on $10k
Price spread, last 7 days−0.042%−$4 · spread now +0.061%, 7d avg +0.032%
Together, before fees−0.037%−$4 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: Arcus is 0.030% dearer against Bybit than usual: you sell high and buy low, +$3 on $10k if it goes back to its 7-day average of +0.032%.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongBybit BTCUSDT86,477.30.0092pay 0.0092% / 8h1h 19m$5.25B$9.77B150x
ShortArcus BTC-USD86,530.20.0100get 0.0013% / 1h19m 29s$7.4M$94.3M40x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Arcus against Bybit. 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
$1.67
Price spread: +0.061% → +0.032%
$2.96
Slippage, 4 orders
−$0.66
Fee Bybit: 5.5 bp × 2 orders
−$11
Fee Arcus: 2.25 bp × 2 orders
−$4.5
Net
−$11.53
Costs to cover
0.162%
Break-even
55.3 days
Slippage from Bybit: live order book, 5 min ago; Arcus: live order book, 5 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 Bybit live order book, 5 min ago0.01 bp5.5 bp −$65.5 bp −$556.9 bp −$6888.3 bp −$4,163
Sell Arcus live order book, 5 min ago0.01 bp2.3 bp −$22.9 bp −$295.0 bp −$502doesn'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
Bluefin BTC-PERP−0.0896%1h86,479.3+0.002%$140K$620K40xas long as short
Phoenix BTC−0.0159%1h86,503+0.030%$2.2M$11.8M40xas long as short
Hotstuff BTC-PERP−0.0080%1h86,472−0.006%$9K$3K50xas long as short
Aster BTCUSDT−0.0009%8h86,462.7−0.017%$504.2M$1.15B200xas long as short
01 Exchange BTCUSD−0.0008%1h86,467−0.012%$358K$2.4M50xas long as short
Aftermath Perps BTCUSD−0.0006%1h86,529+0.060%$82K$217K20xas long as short
Perpl BTC0.0000%43m86,549.5+0.083%$424K$23.8M6.7xas long as short
Deribit BTC-PERPETUAL0.0000%1h86,496.1+0.022%$921.0M$1.48B50xas long as short
KuCoin XBTUSDTM+0.0002%8h86,466−0.013%$851.0M$711.5M125xas long as short
dYdX BTC-USD+0.0004%1h86,497.2+0.023%$17.0M$21.1M50xas long as short
Show all 56 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
gTrade (Gains Network) BTC/USDL +0.0005% / S −0.0004%1h86,505+0.032%$36.8M—200xas long as short
RISEx BTC/USDC+0.0006%1h86,471.6−0.007%$8.5M$43.0M25xas long as short
Reya BTCRUSDPERP+0.0023%1h86,474.2−0.004%$6.7M$145.0M40xas long as short
Injective BTC/USDC PERP+0.0024%1h86,559+0.094%$315K$26.8M52xas long as short
BingX BTC-USDT+0.0035%8h86,464.6−0.015%—$1.59B—as long as short
Phemex BTCUSDT+0.0035%8h86,460.9−0.019%$149.7M$476.9M150xas long as short
Bitget BTCUSDT+0.0045%8h86,483.1+0.007%$2.95B$5.10B150xas long as short
MEXC BTC_USDT+0.0064%8h86,463.8−0.016%$5.14B$5.69B500xas long as short
Aevo BTC-PERP+0.0064%1h86,462.5−0.017%$2.4M$1.3M20xas long as short
Binance BTCUSDT+0.0064%8h86,467.9−0.011%$9.43B$24.42B150xas long as short
Gate BTC_USDT+0.0079%8h86,462−0.018%$5.85B$10.73B200xas long as short
Hibachi BTC/USDT-P+0.0088%1h86,561.8+0.098%$717K$8.2M30xas long as short
Bybit BTCUSDTlong+0.0092%8h86,477.3long leg$5.25B$9.77B150x
Lighter BTC+0.0096%1h86,475.1−0.003%$170.5M$1.01B50xas long as short
Lighter RH BTC+0.0096%1h86,496.2+0.022%$24.1M$152.4M50xas long as short
Popdex BTCUSDT+0.0096%1h86,468−0.011%$8.5M$52.4M100xas long as short
Katana Perps BTC-USD+0.0100%8h86,443−0.040%$205K$6.9M50xas long as short
Paradex BTC-USD-PERP+0.0100%8h86,509.8+0.038%$4.8M$8.5M50xas long as short
Nado BTC-PERP+0.0100%1h86,470.9−0.007%$22.0M$234.4M50xas long as short
Hyperliquid BTC+0.0100%1h86,543+0.076%$3.80B$5.09B40xas long as short
Pacifica BTC+0.0100%1h86,500.1+0.026%$40.8M$513.8M50xas long as short
OKX BTC-USDT-SWAP+0.0100%8h86,477.40.000%$2.54B$12.73B100xas long as short
Ondo Perps BTC-USD.P+0.0100%1h86,471−0.007%$3.9M$18.6M25xas long as short
Arcus BTC-USDshort+0.0100%1h86,530.2+0.061%$7.4M$94.3M40x
Bulk BTC-USD+0.0100%1h86,498.7+0.025%$571.7M$18.6M40xas long as short
Backpack BTC_USDC_PERP+0.0100%1h86,452.3−0.029%$37.8M$155.1M75xas long as short
Variational Omni BTC+0.0100%8h86,498.8+0.025%$156.2M$568.5M—as long as short
edgeX BTCUSDC+0.0100%4h86,531.2+0.062%$279.7M$948.9M100xas long as short
GRVT BTC_USDT_Perp+0.0100%8h86,518.2+0.047%$217.2M$175.8M50xas long as short
ApeX Omni BTCUSDT+0.0100%1h86,540.1+0.073%$141.5M$323.4M100xas long as short
StandX BTC-USD+0.0100%1h86,483+0.007%$30.7M$203.6M40xas long as short
Vest BTC-PERP+0.0100%1h86,526+0.056%—$11.6M50xas long as short
Polymarket Perps BTC-USD+0.0100%1h86,480+0.003%$11.1M$13.7M50xas long as short
Bullet BTC-USD+0.0100%1h86,489+0.014%$190K$3.3M20xas long as short
Orderly PERP_BTC_USDC+0.0100%8h86,472.8−0.005%$2.4M$8.7M100xas long as short
Derive BTC-PERP+0.0100%1h86,460.8−0.019%$30.2M$61.6M15xas long as short
SunX BTC-USDT+0.0100%8h86,491.9+0.017%$3.4M$5.4M100xas long as short
SoDEX BTC-USD+0.0100%1h86,458−0.022%$60.4M$337.2M40xas long as short
HTX BTC-USDT+0.0100%8h86,486.9+0.011%$2.30B$968.5M200xas long as short
Extended BTC-USD+0.0104%1h86,445.5−0.037%$45.5M$226.2M50xas long as short
Jupiter Perps WBTC-PERPL +0.0104% / S +0.0048%1h86,514.4+0.043%—$98.7M500xas long as short
Coinbase International BTC-PERP-INTX+0.0112%1h86,496.7+0.022%$131.9M$5.70B50xas long as short
Kraken Futures PF_XBTUSD+0.0121%1h86,481+0.004%$191.3M$944.1M100xas long as short
BloFin BTC-USDT+0.0183%8h86,513.9+0.042%$415.8M$654.8M150xas long as short
GMX BTC/USD [WBTC.b-USDC]L +0.0185% / S −0.0210%1h86,498.4+0.024%$15.2M—200xas long as short
Kalshi KXBTCPERP+0.0198%8h86,519+0.048%$9.7M$734.0M6.4xas long as short