Settings8H · net · $10k
FundingCostsSizeExchangesMy alerts
Funding arb · Price arb /

BTC

all BTC markets
SwapBacktest
Alert: funding
Measured
My alerts

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.

Alert: spread
My alerts

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.

Funding you earn now, next payment 00:00 UTC+0.0153%/8h= +16.8% APRnext payment +$1.53 per $10,000 · paid last 24h −0.017%
Price spread now: BloFin against Phemex+0.018%59s7-day average 0.000% · you sell dearer than you buy
Net, funding: paid 7d − costs−$20as in the Funding arb table
Net, price: spread back to 7d avg − costs—prices read too far apart to compare
costs, in and out, $10k−$240.243% of the position
Long on PhemexShort on BloFin
What this pair did over the last
the charts below follow
Funding, last 7 days+0.038%+$4 on $10k
Price spread, last 3 days (all we have)−0.022%−$2 · spread now +0.018%, 7d avg 0.000%
Together, before fees+0.016%+$2 on $10k · with fees, hour by hour
The price spread sits at its 7-day average of 0.000%, so right now this pair is about funding alone: +$5 a day on $10k at the current rate. The two prices were read 59 seconds apart, so part of this spread may be the market moving, not a spread.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongPhemex BTCUSDT86,530.30.0026pay 0.0026% / 8h1h 50m$149.7M$472.9M150x
ShortBloFin BTC-USDT86,545.50.0179get 0.0179% / 8h1h 50m$415.3M$655.0M150x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

BloFin against Phemex. 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
$32.15
Price spread: +0.018% → 0.000%
$1.81
Slippage, 4 orders
−$0.29
Fee Phemex: 6 bp × 2 orders
−$12
Fee BloFin: 6 bp × 2 orders
−$12
Net
$9.67
Costs to cover
0.243%
Break-even
4.9 days
Slippage from Phemex: live order book, 4 min ago; BloFin: live order book, 4 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 Phemex live order book, 4 min ago0.01 bp6.2 bp −$66.8 bp −$6814.9 bp −$1,492doesn't fit
Sell BloFin live order book, 4 min ago0.02 bp6.1 bp −$66.2 bp −$626.2 bp −$6227.0 bp −$3,503

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
Aftermath Perps BTCUSD−0.0199%1h86,596.7+0.077%$79K$199K20xas long as short
Phoenix BTC−0.0159%1h86,601+0.082%$2.2M$11.8M40xas long as short
Hotstuff BTC-PERP−0.0080%1h86,559+0.033%$9K$3K50xas long as short
dYdX BTC-USD−0.0025%1h86,590.3+0.069%$17.6M$20.7M50xas long as short
01 Exchange BTCUSD−0.0008%1h86,571.1+0.047%$359K$2.4M50xas long as short
Aster BTCUSDT−0.0006%8h86,522.1−0.009%$505.2M$1.16B200xas long as short
Perpl BTC0.0000%43m86,555.3+0.029%$420K$24.2M6.7xas long as short
Deribit BTC-PERPETUAL0.0000%1h86,571.3+0.047%$925.6M$1.47B50xas long as short
KuCoin XBTUSDTM+0.0003%8h86,525.8−0.005%$850.8M$709.4M125xas long as short
gTrade (Gains Network) BTC/USDL +0.0005% / S −0.0004%1h86,555.4+0.029%$36.8M—200xas long as short
Show all 56 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
RISEx BTC/USDC+0.0006%1h86,576.7+0.054%$8.6M$43.3M25xas long as short
Hibachi BTC/USDT-P+0.0016%1h86,567.6+0.043%$730K$8.1M30xas long as short
Reya BTCRUSDPERP+0.0022%1h86,532.5+0.003%$6.7M$144.7M40xas long as short
Injective BTC/USDC PERP+0.0024%1h86,587+0.066%$315K$26.8M52xas long as short
Phemex BTCUSDTlong+0.0026%8h86,530.3long leg$149.7M$472.9M150x
BingX BTC-USDC+0.0030%8h86,516.1−0.016%—$15.4M—as long as short
Bitget BTCUSDT+0.0039%8h86,533+0.003%$2.95B$5.08B150xas long as short
Aevo BTC-PERP+0.0056%1h86,531+0.001%$2.4M$1.3M20xas long as short
SoDEX BTC-USD+0.0058%1h86,527−0.004%$60.5M$336.8M40xas long as short
Binance BTCUSDT+0.0059%8h86,528.2−0.002%$9.42B$24.37B150xas long as short
MEXC BTC_USDT+0.0059%8h86,529−0.002%$5.19B$5.61B500xas long as short
Gate BTC_USDT+0.0083%8h86,522.7−0.009%$5.85B$10.62B200xas long as short
Bybit BTCUSDT+0.0088%8h86,531.4+0.001%$5.27B$9.73B150xas long as short
Lighter BTC+0.0096%1h86,541+0.012%$172.4M$997.9M50xas long as short
Lighter RH BTC+0.0096%1h86,554.1+0.028%$24.0M$151.6M50xas long as short
Popdex BTCUSDT+0.0096%1h86,542+0.014%$8.5M$52.3M100xas long as short
Nado BTC-PERP+0.0097%1h86,567.7+0.043%$21.7M$233.9M50xas long as short
Katana Perps BTC-USD+0.0100%8h86,549+0.022%$205K$6.9M50xas long as short
Paradex BTC-USD-PERP+0.0100%8h86,604.7+0.086%$4.7M$8.3M50xas long as short
Hyperliquid BTC+0.0100%1h86,599+0.079%$3.81B$5.09B40xas long as short
Pacifica BTC+0.0100%1h86,601.5+0.082%$41.0M$499.4M50xas long as short
OKX BTC-USDT-SWAP+0.0100%8h86,534.2+0.005%$2.55B$12.71B100xas long as short
Ondo Perps BTC-USD.P+0.0100%1h86,554+0.027%$3.9M$18.6M25xas long as short
Arcus BTC-USD+0.0100%1h86,638.3+0.125%$7.4M$94.0M40xas long as short
Bulk BTC-USD+0.0100%1h86,527.4−0.003%$571.7M$19.3M40xas long as short
Backpack BTC_USDC_PERP+0.0100%1h86,531.4+0.001%$38.2M$153.0M75xas long as short
Variational Omni BTC+0.0100%8h86,521.5−0.010%$156.7M$571.1M—as long as short
edgeX BTCUSDC+0.0100%4h86,579.9+0.057%$279.6M$942.4M100xas long as short
GRVT BTC_USDT_Perp+0.0100%8h86,665.5+0.156%$217.4M$182.6M50xas long as short
ApeX Omni BTCUSDT+0.0100%1h86,588.3+0.067%$141.5M$322.9M100xas long as short
StandX BTC-USD+0.0100%1h86,556+0.030%$30.7M$203.2M40xas long as short
Vest BTC-PERP+0.0100%1h86,592.9+0.072%—$11.6M50xas long as short
Polymarket Perps BTC-USD+0.0100%1h86,541+0.012%$11.1M$13.5M50xas long as short
Bullet BTC-USD+0.0100%1h86,539+0.010%$193K$3.4M20xas long as short
Orderly PERP_BTC_USDC+0.0100%8h86,540.3+0.012%$2.4M$8.6M100xas long as short
Bluefin BTC-PERP+0.0100%1h86,558.9+0.033%$140K$618K40xas long as short
Derive BTC-PERP+0.0100%1h86,532.4+0.002%$30.0M$61.6M15xas long as short
SunX BTC-USDT+0.0100%8h86,527.7−0.003%$3.4M$5.5M100xas long as short
HTX BTC-USDT+0.0100%8h86,532.5+0.003%$2.30B$959.0M200xas long as short
Extended BTC-USD+0.0104%1h86,514.2−0.019%$46.4M$225.3M50xas long as short
Jupiter Perps WBTC-PERPL +0.0104% / S +0.0048%1h86,556.5+0.030%—$98.8M500xas long as short
Coinbase International BTC-PERP-INTX+0.0112%1h86,578.2+0.055%$131.7M$5.77B50xas long as short
Kraken Futures PF_XBTUSD+0.0121%1h86,564.6+0.040%$191.3M$937.2M100xas long as short
BloFin BTC-USDTshort+0.0179%8h86,545.5+0.018%$415.3M$655.0M150x
GMX BTC/USD [WBTC.b-USDC]L +0.0180% / S −0.0210%1h86,555.7+0.029%$15.0M—200xas long as short
Kalshi KXBTCPERP+0.0187%8h86,586+0.064%$9.7M$726.3M6.4xas long as short