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−$21
spread now+0.004%7d average+0.091%fees + slippage, in and out−$13spread needed0.127%
Long on ExtendedShort on Phoenix
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongExtended BTC-USD85,909.20.0088pay 0.0011% / 1h32m 28s$48.5M$200.4M50x
ShortPhoenix BTC85,913−0.0082pay 0.0010% / 1h32m 28s$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
$0.44
Funding while held
−$5.1
Slippage, 4 orders
−$0.73
Fee Extended: 2.5 bp × 2 orders
−$5
Fee Phoenix: 3.5 bp × 2 orders
−$7
Net
−$17.39
Spread needed to break even
0.127%
Slippage from Extended: live order book, 3 min ago; Phoenix: live order book, 8 min ago.

Cost of waiting

funding view
Funding /8h
−0.0170%
Per $10,000 a day
−$5.10
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 Extended live order book, 3 min ago0.06 bp2.6 bp −$32.6 bp −$262.7 bp −$2678.9 bp −$4,427
Sell Phoenix live order book, 8 min ago0.06 bp3.9 bp −$46.2 bp −$6210.5 bp −$1,050doesn't fit

BTC price on every exchange

against the cheapest. Click to use as the short leg.
HTX85,875.1cheapestBulk85,890.4+0.018%Aster85,892.7+0.020%Bitget85,896.5+0.025%Aevo85,897.3+0.026%Popdex85,898+0.027%Nado85,898.1+0.027%KuCoin85,899.7+0.029%Reya85,899.9+0.029%Gate85,900.6+0.030%MEXC85,902+0.031%SoDEX85,902+0.031%BloFin85,902.2+0.032%SunX85,902.8+0.032%Ondo Perps85,904+0.034%Binance85,906.6+0.037%Bybit85,907.2+0.037%
Extended85,909.2+0.040%
Phemex85,910+0.041%Bullet85,911+0.042%OKX85,911.1+0.042%Hotstuff85,912+0.043%
Phoenix85,913+0.044%
Lighter85,914.6+0.046%Katana Perps85,915+0.046%Arcus85,915.4+0.047%BingX85,917.3+0.049%Polymarket Perps85,918+0.050%Lighter RH85,918.1+0.050%Orderly85,920+0.052%Derive85,921.2+0.054%Perpl85,924.3+0.057%01 Exchange85,924.6+0.058%Backpack85,928.5+0.062%Bluefin85,932.2+0.066%Pacifica85,935+0.070%StandX85,939.2+0.075%Jupiter Perps85,940.4+0.076%GMX85,942+0.078%Paradex85,943.6+0.080%Kalshi85,944+0.080%Kraken Futures85,944.7+0.081%RISEx85,946.5+0.083%dYdX85,947.2+0.084%gTrade (Gains Network)85,947.3+0.084%Vest85,959.2+0.098%ApeX Omni85,959.4+0.098%edgeX85,973.9+0.115%Coinbase International85,976+0.117%Aftermath Perps85,978+0.120%Deribit85,985.2+0.128%Variational Omni85,993.9+0.138%Hyperliquid85,994+0.138%Hibachi86,005.5+0.152%Injective86,066+0.222%

BTC on 55 venues

cheapest first. Swap a leg.
Exchangevs long legFunding /8hEveryOIVol 24hMax lev
HTX BTC-USDT−0.040%+0.0064%8h$2.29B$847.7M200xas long as short
Bulk BTC-USD−0.022%+0.0010%1h$563.2M$127.1M40xas long as short
Aster BTCUSDT−0.019%+0.0017%8h$506.3M$1.10B200xas long as short
Bitget BTCUSDT−0.015%+0.0002%8h$2.96B$4.68B150xas long as short
Aevo BTC-PERP−0.014%+0.0032%1h$2.4M$1.3M20xas long as short
Popdex BTCUSDT−0.013%+0.0056%1h$8.5M$46.3M100xas long as short
Nado BTC-PERP−0.013%+0.0100%1h$23.1M$226.8M50xas long as short
KuCoin XBTUSDTM−0.011%−0.0007%8h$806.4M$620.5M125xas long as short
Reya BTCRUSDPERP−0.011%−0.0017%1h$6.7M$138.4M40xas long as short
Gate BTC_USDT−0.010%+0.0031%8h$6.06B$9.63B200xas long as short
Show all 55 venues
Exchangevs long legFunding /8hEveryOIVol 24hMax lev
MEXC BTC_USDT−0.008%+0.0031%8h$5.16B$5.12B500xas long as short
SoDEX BTC-USD−0.008%−0.0003%1h$60.9M$285.2M40xas long as short
BloFin BTC-USDT−0.008%−0.0089%8h$421.9M$567.7M150xas long as short
SunX BTC-USDT−0.007%+0.0100%8h$3.4M$5.8M100xas long as short
Ondo Perps BTC-USD.P−0.006%+0.0100%1h$4.0M$17.4M25xas long as short
Binance BTCUSDT−0.003%+0.0031%8h$9.51B$22.10B150xas long as short
Bybit BTCUSDT−0.002%+0.0035%8h$5.28B$8.67B150xas long as short
Extended BTC-USDlong0.000%+0.0088%1h$48.5M$200.4M50x
Phemex BTCUSDT+0.001%+0.0022%8h$151.2M$423.9M150xas long as short
Bullet BTC-USD+0.002%+0.0100%1h$234K$3.3M20xas long as short
OKX BTC-USDT-SWAP+0.002%+0.0028%8h$2.67B$11.59B100xas long as short
Hotstuff BTC-PERP+0.003%−0.0080%1h$9K$4K50xas long as short
Phoenix BTCshort+0.004%−0.0082%1h$2.0M$11.0M40x
Lighter BTC+0.006%+0.0096%1h$172.0M$949.4M50xas long as short
Katana Perps BTC-USD+0.007%+0.0100%8h$192K$5.9M50xas long as short
Arcus BTC-USD+0.007%−0.0299%1h$6.7M$86.1M40xas long as short
BingX BTC-USDT+0.009%+0.0002%8h—$1.37B—as long as short
Polymarket Perps BTC-USD+0.010%+0.0100%1h$11.0M$12.3M50xas long as short
Lighter RH BTC+0.010%+0.0096%1h$24.4M$138.0M50xas long as short
Orderly PERP_BTC_USDC+0.013%+0.0098%8h$2.4M$7.4M100xas long as short
Derive BTC-PERP+0.014%+0.0100%1h$30.4M$58.9M15xas long as short
Perpl BTC+0.018%−0.0447%43m$402K$26.1M6.7xas long as short
01 Exchange BTCUSD+0.018%−0.0048%1h$311K$2.4M50xas long as short
Backpack BTC_USDC_PERP+0.022%+0.0100%1h$37.6M$135.3M75xas long as short
Bluefin BTC-PERP+0.027%+0.0100%1h$144K$411K40xas long as short
Pacifica BTC+0.030%+0.0100%1h$36.8M$416.1M50xas long as short
StandX BTC-USD+0.035%+0.0100%1h$30.7M$214.9M40xas long as short
Jupiter Perps WBTC-PERP+0.036%L +0.0104% / S +0.0048%1h—$83.9M500xas long as short
GMX BTC/USD [WBTC.b-USDC]+0.038%L +0.0172% / S −0.0153%1h$12.7M—200xas long as short
Paradex BTC-USD-PERP+0.040%+0.0099%8h$4.4M$6.9M50xas long as short
Kalshi KXBTCPERP+0.041%0.0000%8h$11.7M$655.0M6.4xas long as short
Kraken Futures PF_XBTUSD+0.041%−0.0019%1h$189.0M$817.9M100xas long as short
RISEx BTC/USDC+0.043%+0.0031%1h$9.1M$38.8M25xas long as short
dYdX BTC-USD+0.044%−0.0001%1h$17.2M$17.8M50xas long as short
gTrade (Gains Network) BTC/USD+0.044%L +0.0005% / S −0.0004%1h$36.8M—200xas long as short
Vest BTC-PERP+0.058%+0.0100%1h—$11.5M50xas long as short
ApeX Omni BTCUSDT+0.058%+0.0016%1h$140.2M$320.3M100xas long as short
edgeX BTCUSDC+0.075%+0.0100%4h$281.0M$883.9M100xas long as short
Coinbase International BTC-PERP-INTX+0.078%+0.0200%1h$129.7M$5.84B50xas long as short
Aftermath Perps BTCUSD+0.080%+0.0006%1h$87K$157K20xas long as short
Deribit BTC-PERPETUAL+0.088%+0.0231%1h$915.8M$1.11B50xas long as short
Variational Omni BTC+0.099%+0.0075%8h$171.2M$505.6M—as long as short
Hyperliquid BTC+0.099%+0.0180%1h$3.96B$4.49B40xas long as short
Hibachi BTC/USDT-P+0.112%+0.0096%1h$753K$6.5M30xas long as short
Injective BTC/USDC PERP+0.183%−0.0006%1h$309K$27.0M52xas long as short