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−$20
spread now+0.058%7d average+0.042%fees + slippage, in and out−$22spread needed0.220%
Long on PhemexShort on Hibachi
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongPhemex BTCUSDT86,009.5−0.0095get 0.0095% / 8h6h 47m$148.1M$413.6M150x
ShortHibachi BTC/USDT-P86,059.60.0112get 0.0014% / 1h47m 11s$765K$7.4M30x

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
$5.83
Funding while held
$6.2
Slippage, 4 orders
−$1
Fee Phemex: 6 bp × 2 orders
−$12
Fee Hibachi: 4.5 bp × 2 orders
−$9
Net
−$9.97
Spread needed to break even
0.220%
Slippage from Phemex: live order book, 3 min ago; Hibachi: live order book, 3 min ago.

Cost of waiting

funding view
Funding /8h
+0.0207%
Per $10,000 a day
+$6.20
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 Phemex live order book, 3 min ago0.01 bp6.0 bp −$66.0 bp −$608.8 bp −$884doesn't fit
Sell Hibachi live order book, 3 min ago0.01 bp5.4 bp −$56.1 bp −$6142.7 bp −$4,272doesn't fit

BTC price on every exchange

against the cheapest. Click to use as the short leg.
Bulk85,852.4cheapestInjective85,937+0.099%Arcus85,946.9+0.110%Reya85,984.8+0.154%StandX85,986+0.156%MEXC85,987.3+0.157%HTX85,989.2+0.159%Bullet85,992+0.163%ApeX Omni86,000.4+0.172%BingX86,000.7+0.173%BloFin86,001.7+0.174%Aster86,002.2+0.174%SunX86,002.4+0.175%KuCoin86,003.6+0.176%SoDEX86,005+0.178%Bitget86,005.1+0.178%Gate86,005.3+0.178%edgeX86,006.7+0.180%Binance86,008.5+0.182%Aevo86,008.6+0.182%Bybit86,009.2+0.183%
Phemex86,009.5+0.183%
Nado86,011.7+0.185%Hotstuff86,013+0.187%OKX86,013.9+0.188%Extended86,014.2+0.188%Derive86,014.4+0.189%Popdex86,015+0.189%Backpack86,020.6+0.196%Polymarket Perps86,021+0.196%Lighter RH86,023.5+0.199%Lighter86,024.6+0.201%Ondo Perps86,025+0.201%Katana Perps86,027+0.203%Orderly86,028.7+0.205%Aftermath Perps86,031.6+0.209%dYdX86,036.2+0.214%Variational Omni86,038.7+0.217%Perpl86,040.3+0.219%01 Exchange86,040.6+0.219%GMX86,042.1+0.221%Bluefin86,045.8+0.225%gTrade (Gains Network)86,047.5+0.227%Vest86,049.5+0.230%Phoenix86,050+0.230%Pacifica86,053+0.234%Paradex86,055+0.236%RISEx86,057.3+0.239%Kraken Futures86,058.7+0.240%
Hibachi86,059.6+0.241%
Jupiter Perps86,061.6+0.244%Kalshi86,069+0.252%Deribit86,079.4+0.264%Hyperliquid86,100+0.288%Coinbase International86,117+0.308%

BTC on 55 venues

cheapest first. Swap a leg.
Exchangevs long legFunding /8hEveryOIVol 24hMax lev
Bulk BTC-USD−0.183%−0.0012%1h$560.3M$139.6M40xas long as short
Injective BTC/USDC PERP−0.084%−0.0019%1h$308K$27.0M52xas long as short
Arcus BTC-USD−0.073%−0.0377%1h$6.6M$84.7M40xas long as short
Reya BTCRUSDPERP−0.029%−0.0018%1h$6.8M$138.1M40xas long as short
StandX BTC-USD−0.027%+0.0075%1h$30.6M$227.1M40xas long as short
MEXC BTC_USDT−0.026%+0.0031%8h$5.19B$5.09B500xas long as short
HTX BTC-USDT−0.024%+0.0100%8h$2.29B$835.0M200xas long as short
Bullet BTC-USD−0.020%+0.0081%1h$230K$3.3M20xas long as short
ApeX Omni BTCUSDT−0.011%+0.0089%1h$139.5M$318.8M100xas long as short
BingX BTC-USDT−0.010%−0.0004%8h—$1.37B—as long as short
Show all 55 venues
Exchangevs long legFunding /8hEveryOIVol 24hMax lev
BloFin BTC-USDT−0.009%−0.0089%8h$424.7M$565.9M150xas long as short
Aster BTCUSDT−0.008%+0.0021%8h$505.2M$1.11B200xas long as short
SunX BTC-USDT−0.008%+0.0100%8h$3.3M$5.7M100xas long as short
KuCoin XBTUSDTM−0.007%+0.0004%8h$792.6M$611.8M125xas long as short
SoDEX BTC-USD−0.005%−0.0022%1h$60.9M$284.0M40xas long as short
Bitget BTCUSDT−0.005%−0.0005%8h$2.96B$4.69B150xas long as short
Gate BTC_USDT−0.005%+0.0035%8h$6.07B$9.47B200xas long as short
edgeX BTCUSDC−0.003%+0.0100%4h$279.2M$886.3M100xas long as short
Binance BTCUSDT−0.001%+0.0031%8h$9.51B$21.97B150xas long as short
Aevo BTC-PERP−0.001%+0.0032%1h$2.4M$1.3M20xas long as short
Bybit BTCUSDT0.000%+0.0014%8h$5.25B$8.57B150xas long as short
Phemex BTCUSDTlong0.000%−0.0095%8h$148.1M$413.6M150x
Nado BTC-PERP+0.002%+0.0100%1h$23.4M$226.8M50xas long as short
Hotstuff BTC-PERP+0.004%−0.0080%1h$9K$4K50xas long as short
OKX BTC-USDT-SWAP+0.005%+0.0011%8h$2.67B$11.54B100xas long as short
Extended BTC-USD+0.005%−0.0024%1h$48.7M$199.2M50xas long as short
Derive BTC-PERP+0.006%+0.0081%1h$30.4M$59.9M15xas long as short
Popdex BTCUSDT+0.006%+0.0040%1h$8.5M$46.4M100xas long as short
Backpack BTC_USDC_PERP+0.013%+0.0100%1h$37.5M$123.8M75xas long as short
Polymarket Perps BTC-USD+0.013%+0.0100%1h$11.0M$11.6M50xas long as short
Lighter RH BTC+0.016%+0.0096%1h$24.6M$135.0M50xas long as short
Lighter BTC+0.018%+0.0096%1h$172.3M$933.4M50xas long as short
Ondo Perps BTC-USD.P+0.018%+0.0100%1h$4.0M$16.6M25xas long as short
Katana Perps BTC-USD+0.020%+0.0100%8h$214K$5.6M50xas long as short
Orderly PERP_BTC_USDC+0.022%+0.0100%8h$2.3M$7.3M100xas long as short
Aftermath Perps BTCUSD+0.026%+0.0105%1h$87K$150K20xas long as short
dYdX BTC-USD+0.031%−0.0043%1h$17.3M$17.9M50xas long as short
Variational Omni BTC+0.034%+0.0078%8h$171.2M$507.9M—as long as short
Perpl BTC+0.036%−0.0223%43m$403K$27.1M6.7xas long as short
01 Exchange BTCUSD+0.036%−0.0056%1h$294K$2.4M50xas long as short
GMX BTC/USD [WBTC.b-USDC]+0.038%L +0.0172% / S −0.0153%1h$12.7M—200xas long as short
Bluefin BTC-PERP+0.042%−0.2628%1h$143K$411K40xas 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+0.046%+0.0100%1h—$11.7M50xas long as short
Phoenix BTC+0.047%−0.0096%1h$1.9M$11.0M40xas long as short
Pacifica BTC+0.051%+0.0100%1h$36.7M$391.3M50xas long as short
Paradex BTC-USD-PERP+0.053%+0.0094%8h$4.4M$6.8M50xas long as short
RISEx BTC/USDC+0.056%+0.0040%1h$9.2M$38.7M25xas long as short
Kraken Futures PF_XBTUSD+0.057%−0.0073%1h$189.3M$812.5M100xas long as short
Hibachi BTC/USDT-Pshort+0.058%+0.0112%1h$765K$7.4M30x
Jupiter Perps WBTC-PERP+0.061%L +0.0104% / S +0.0048%1h—$85.3M500xas long as short
Kalshi KXBTCPERP+0.069%+0.0107%8h$13.8M$623.9M6.4xas long as short
Deribit BTC-PERPETUAL+0.081%+0.0080%1h$913.3M$1.11B50xas long as short
Hyperliquid BTC+0.105%+0.0140%1h$3.90B$4.38B40xas long as short
Coinbase International BTC-PERP-INTX+0.125%+0.0184%1h$128.1M$5.98B50xas long as short