data as of
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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−$16
spread now−0.031%7d average+0.006%fees + slippage, in and out−$12spread needed0.123%
Long on Kraken FuturesShort on Lighter RH
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongKraken Futures PF_XBTUSD85,918.4−0.0019get 0.0002% / 1h50m 49s$188.0M$815.8M100x
ShortLighter RH BTC85,892.10.0096get 0.0012% / 1h50m 49s$24.5M$137.2M50x

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
−$3.06
Funding while held
$3.45
Slippage, 4 orders
−$2.31
Fee Kraken Futures: 5 bp × 2 orders
−$10
Fee Lighter RH: 0 bp × 2 orders
$0
Net
−$11.92
Spread needed to break even
0.123%
Slippage from Kraken Futures: live order book, 5 min ago; Lighter RH: live order book, 5 min ago.

Cost of waiting

funding view
Funding /8h
+0.0115%
Per $10,000 a day
+$3.45
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 Kraken Futures live order book, 5 min ago0.06 bp5.1 bp −$55.7 bp −$577.4 bp −$7419.2 bp −$4,591
Sell Lighter RH live order book, 5 min ago0.27 bp1.1 bp −$11.2 bp −$123.0 bp −$29824.7 bp −$12.3K

BTC price on every exchange

against the cheapest. Click to use as the short leg.
Injective85,720cheapestVariational Omni85,805.8+0.100%Extended85,863.2+0.167%MEXC85,863.4+0.167%HTX85,863.8+0.168%Bitget85,867.3+0.172%BingX85,869+0.174%Binance85,870.7+0.176%BloFin85,876.1+0.182%Bybit85,876.2+0.182%Gate85,876.2+0.182%Aevo85,877.8+0.184%KuCoin85,882+0.189%SoDEX85,883+0.190%Phemex85,883.6+0.191%OKX85,887.8+0.196%Lighter85,889.5+0.198%
Lighter RH85,892.1+0.201%
Backpack85,893.5+0.202%Aster85,898.6+0.208%Bullet85,899+0.209%Reya85,900.3+0.210%Orderly85,901.5+0.212%Derive85,902.5+0.213%ApeX Omni85,903.7+0.214%Arcus85,904.2+0.215%Bulk85,911.1+0.223%Aftermath Perps85,917.7+0.231%
Kraken Futures85,918.4+0.231%
Bluefin85,918.8+0.232%Ondo Perps85,919+0.232%Nado85,922.3+0.236%gTrade (Gains Network)85,924.4+0.238%SunX85,926.2+0.241%Katana Perps85,929+0.244%GMX85,929.3+0.244%Popdex85,941+0.258%StandX85,943.9+0.261%Pacifica85,944.8+0.262%edgeX85,946.4+0.264%Perpl85,949.2+0.267%Polymarket Perps85,950+0.268%Deribit85,951.4+0.270%Phoenix85,953+0.272%Hotstuff85,954+0.273%Coinbase International85,958+0.278%RISEx85,959+0.279%01 Exchange85,962.2+0.283%Paradex85,966.1+0.287%Kalshi85,971+0.293%Hyperliquid85,972+0.294%dYdX85,974+0.296%Hibachi85,978.3+0.301%Vest85,980.6+0.304%Jupiter Perps85,997.4+0.324%

BTC on 55 venues

cheapest first. Swap a leg.
Exchangevs long legFunding /8hEveryOIVol 24hMax lev
Injective BTC/USDC PERP−0.231%−0.0006%1h$307K$27.0M52xas long as short
Variational Omni BTC−0.131%+0.0068%8h$170.5M$505.8M—as long as short
Extended BTC-USD−0.064%+0.0080%1h$48.5M$199.4M50xas long as short
MEXC BTC_USDT−0.064%+0.0029%8h$5.16B$5.07B500xas long as short
HTX BTC-USDT−0.064%+0.0100%8h$2.29B$843.9M200xas long as short
Bitget BTCUSDT−0.059%−0.0001%8h$2.96B$4.67B150xas long as short
BingX BTC-USDT−0.057%−0.0001%8h—$1.37B—as long as short
Binance BTCUSDT−0.056%+0.0030%8h$9.47B$22.02B150xas long as short
BloFin BTC-USDT−0.049%−0.0090%8h$422.0M$566.9M150xas long as short
Bybit BTCUSDT−0.049%+0.0026%8h$5.27B$8.63B150xas long as short
Show all 55 venues
Exchangevs long legFunding /8hEveryOIVol 24hMax lev
Gate BTC_USDT−0.049%+0.0035%8h$6.05B$9.57B200xas long as short
Aevo BTC-PERP−0.047%+0.0032%1h$2.4M$1.3M20xas long as short
KuCoin XBTUSDTM−0.042%−0.0007%8h$804.3M$618.8M125xas long as short
SoDEX BTC-USD−0.041%+0.0036%1h$60.9M$284.7M40xas long as short
Phemex BTCUSDT−0.040%−0.0016%8h$148.0M$421.8M150xas long as short
OKX BTC-USDT-SWAP−0.036%+0.0021%8h$2.66B$11.56B100xas long as short
Lighter BTC−0.034%+0.0096%1h$172.0M$942.9M50xas long as short
Lighter RH BTCshort−0.031%+0.0096%1h$24.5M$137.2M50x
Backpack BTC_USDC_PERP−0.029%+0.0100%1h$37.6M$132.0M75xas long as short
Aster BTCUSDT−0.023%+0.0018%8h$504.9M$1.09B200xas long as short
Bullet BTC-USD−0.023%+0.0100%1h$236K$3.3M20xas long as short
Reya BTCRUSDPERP−0.021%−0.0017%1h$6.7M$138.3M40xas long as short
Orderly PERP_BTC_USDC−0.020%+0.0100%8h$2.4M$7.4M100xas long as short
Derive BTC-PERP−0.019%+0.0100%1h$30.4M$58.8M15xas long as short
ApeX Omni BTCUSDT−0.017%+0.0033%1h$139.7M$319.7M100xas long as short
Arcus BTC-USD−0.017%−0.0299%1h$6.7M$85.1M40xas long as short
Bulk BTC-USD−0.008%+0.0002%1h$562.2M$127.9M40xas long as short
Aftermath Perps BTCUSD−0.001%+0.0035%1h$86K$152K20xas long as short
Kraken Futures PF_XBTUSDlong0.000%−0.0019%1h$188.0M$815.8M100x
Bluefin BTC-PERP0.000%+0.0100%1h$144K$411K40xas long as short
Ondo Perps BTC-USD.P+0.001%+0.0100%1h$4.1M$17.2M25xas long as short
Nado BTC-PERP+0.004%+0.0100%1h$23.0M$226.8M50xas long as short
gTrade (Gains Network) BTC/USD+0.007%L +0.0005% / S −0.0004%1h$36.8M—200xas long as short
SunX BTC-USDT+0.009%+0.0100%8h$3.4M$5.8M100xas long as short
Katana Perps BTC-USD+0.012%+0.0100%8h$188K$5.8M50xas long as short
GMX BTC/USD [WBTC.b-USDC]+0.013%L +0.0172% / S −0.0153%1h$12.7M—200xas long as short
Popdex BTCUSDT+0.026%+0.0072%1h$8.5M$46.4M100xas long as short
StandX BTC-USD+0.030%+0.0100%1h$30.7M$216.3M40xas long as short
Pacifica BTC+0.031%+0.0100%1h$36.6M$407.0M50xas long as short
edgeX BTCUSDC+0.033%+0.0100%4h$280.6M$882.7M100xas long as short
Perpl BTC+0.036%−0.0447%43m$404K$26.3M6.7xas long as short
Polymarket Perps BTC-USD+0.037%+0.0100%1h$11.0M$12.0M50xas long as short
Deribit BTC-PERPETUAL+0.038%+0.0152%1h$916.1M$1.10B50xas long as short
Phoenix BTC+0.040%−0.0082%1h$1.9M$11.0M40xas long as short
Hotstuff BTC-PERP+0.041%−0.0080%1h$9K$4K50xas long as short
Coinbase International BTC-PERP-INTX+0.046%+0.0200%1h$129.0M$5.85B50xas long as short
RISEx BTC/USDC+0.047%+0.0031%1h$9.0M$38.5M25xas long as short
01 Exchange BTCUSD+0.051%−0.0040%1h$310K$2.4M50xas long as short
Paradex BTC-USD-PERP+0.056%+0.0098%8h$4.4M$6.8M50xas long as short
Kalshi KXBTCPERP+0.061%0.0000%8h$12.0M$648.9M6.4xas long as short
Hyperliquid BTC+0.062%+0.0183%1h$3.96B$4.45B40xas long as short
dYdX BTC-USD+0.065%−0.0002%1h$17.2M$18.1M50xas long as short
Hibachi BTC/USDT-P+0.070%+0.0104%1h$754K$6.6M30xas long as short
Vest BTC-PERP+0.072%+0.0100%1h—$11.5M50xas long as short
Jupiter Perps WBTC-PERP+0.092%L +0.0104% / S +0.0048%1h—$83.8M500xas long as short