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−$23
spread now+0.016%7d average+0.029%fees + slippage, in and out−$22spread needed0.217%
Long on PhemexShort on Paradex
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongPhemex BTCUSDT85,727.8−0.0013get 0.0013% / 8h1h 31m$158.4M$377.7M150x
ShortParadex BTC-USD-PERP85,741.70.0082get 0.0082% / 8h1h 31m$4.3M$6.5M50x

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
$1.62
Funding while held
$2.84
Slippage, 4 orders
−$5.75
Fee Phemex: 6 bp × 2 orders
−$12
Fee Paradex: 2 bp × 2 orders
−$4
Net
−$17.29
Spread needed to break even
0.217%
Slippage from Phemex: live order book, 4 min ago; Paradex: live order book, 4 min ago.

Cost of waiting

funding view
Funding /8h
+0.0095%
Per $10,000 a day
+$2.84
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, 4 min ago0.01 bp9.7 bp −$1010.4 bp −$104doesn't fitdoesn't fit
Sell Paradex live order book, 4 min ago1.02 bp3.0 bp −$33.0 bp −$30doesn't fitdoesn't fit

BTC price on every exchange

against the cheapest. Click to use as the short leg.
Variational Omni85,554.8cheapestBulk85,570.3+0.018%Aftermath Perps85,587.2+0.038%Hotstuff85,622+0.079%edgeX85,634.4+0.093%StandX85,661.7+0.125%Hibachi85,662.5+0.126%ApeX Omni85,664.7+0.128%01 Exchange85,693.9+0.163%BingX85,698.3+0.168%Arcus85,698.5+0.168%Extended85,705.1+0.176%Katana Perps85,706+0.177%OKX85,711.9+0.184%Binance85,713.5+0.186%Popdex85,718+0.191%Bitget85,718.6+0.191%Reya85,719.5+0.193%Nado85,719.9+0.193%Ondo Perps85,720+0.193%Backpack85,721.1+0.194%Gate85,722.2+0.196%
Phemex85,727.8+0.202%
Aevo85,728+0.202%MEXC85,729.9+0.205%Orderly85,731.4+0.206%Perpl85,731.8+0.207%Pacifica85,732.1+0.207%BloFin85,733.1+0.208%HTX85,734.9+0.211%Aster85,736+0.212%Polymarket Perps85,736+0.212%RISEx85,737.7+0.214%Jupiter Perps85,738.3+0.214%SunX85,738.5+0.215%
Paradex85,741.7+0.218%
Derive85,741.7+0.218%Bybit85,742.5+0.219%SoDEX85,744+0.221%Bullet85,745+0.222%dYdX85,745.1+0.222%KuCoin85,746.8+0.224%Kalshi85,747+0.225%Injective85,748+0.226%Phoenix85,749+0.227%Lighter85,749.8+0.228%Lighter RH85,750.5+0.229%gTrade (Gains Network)85,753.1+0.232%GMX85,755.7+0.235%Vest85,763.2+0.244%Bluefin85,764.7+0.245%Kraken Futures85,770.7+0.252%Coinbase International85,793+0.278%Deribit85,817.8+0.307%Hyperliquid85,824+0.315%

BTC on 55 venues

cheapest first. Swap a leg.
Exchangevs long legFunding /8hEveryOIVol 24hMax lev
Variational Omni BTC−0.202%+0.0100%8h$173.7M$466.2M—as long as short
Bulk BTC-USD−0.184%+0.0100%1h$535.4M$59.7M40xas long as short
Aftermath Perps BTCUSD−0.164%−0.0072%1h$86K$142K20xas long as short
Hotstuff BTC-PERP−0.123%−0.0080%1h$8K$3K50xas long as short
edgeX BTCUSDC−0.109%−0.0094%4h$285.1M$809.0M100xas long as short
StandX BTC-USD−0.077%+0.0100%1h$30.6M$245.2M40xas long as short
Hibachi BTC/USDT-P−0.076%+0.0088%1h$592K$7.2M30xas long as short
ApeX Omni BTCUSDT−0.074%−0.0045%1h$138.2M$316.7M100xas long as short
01 Exchange BTCUSD−0.040%−0.0096%1h$282K$2.3M50xas long as short
BingX BTC-USDC−0.034%−0.0010%8h—$14.5M—as long as short
Show all 55 venues
Exchangevs long legFunding /8hEveryOIVol 24hMax lev
Arcus BTC-USD−0.034%+0.0100%1h$6.1M$77.8M40xas long as short
Extended BTC-USD−0.026%+0.0104%1h$47.4M$201.7M50xas long as short
Katana Perps BTC-USD−0.025%+0.0100%8h$197K$5.0M50xas long as short
OKX BTC-USDT-SWAP−0.019%+0.0050%8h$2.58B$10.83B100xas long as short
Binance BTCUSDT−0.017%+0.0089%8h$9.61B$19.88B150xas long as short
Popdex BTCUSDT−0.011%+0.0096%1h$8.4M$41.2M100xas long as short
Bitget BTCUSDT−0.011%−0.0009%8h$2.98B$4.32B150xas long as short
Reya BTCRUSDPERP−0.010%−0.0031%1h$6.8M$137.2M40xas long as short
Nado BTC-PERP−0.009%+0.0067%1h$24.1M$223.1M50xas long as short
Ondo Perps BTC-USD.P−0.009%+0.0100%1h$3.9M$15.6M25xas long as short
Backpack BTC_USDC_PERP−0.008%+0.0100%1h$39.6M$100.3M75xas long as short
Gate BTC_USDT−0.007%−0.0012%8h$6.09B$8.67B200xas long as short
Phemex BTCUSDTlong0.000%−0.0013%8h$158.4M$377.7M150x
Aevo BTC-PERP0.000%+0.0088%1h$2.4M$1.7M20xas long as short
MEXC BTC_USDT+0.002%+0.0090%8h$4.98B$4.74B500xas long as short
Orderly PERP_BTC_USDC+0.004%+0.0100%8h$2.4M$6.8M100xas long as short
Perpl BTC+0.005%−0.0447%43m$396K$31.0M6.7xas long as short
Pacifica BTC+0.005%+0.0100%1h$36.6M$317.3M50xas long as short
BloFin BTC-USDT+0.006%+0.0209%8h$421.1M$488.2M150xas long as short
HTX BTC-USDT+0.008%+0.0038%8h$2.29B$785.3M200xas long as short
Aster BTCUSDT+0.010%+0.0040%8h$488.3M$1.03B200xas long as short
Polymarket Perps BTC-USD+0.010%+0.0100%1h$10.8M$10.7M50xas long as short
RISEx BTC/USDC+0.012%+0.0178%1h$8.5M$36.9M25xas long as short
Jupiter Perps WBTC-PERP+0.012%L +0.0104% / S +0.0048%1h—$86.7M500xas long as short
SunX BTC-USDT+0.012%+0.0100%8h$3.3M$5.4M100xas long as short
Paradex BTC-USD-PERPshort+0.016%+0.0082%8h$4.3M$6.5M50x
Derive BTC-PERP+0.016%+0.0100%1h$28.6M$55.7M15xas long as short
Bybit BTCUSDT+0.017%+0.0100%8h$5.10B$7.93B150xas long as short
SoDEX BTC-USD+0.019%+0.0026%1h$56.8M$239.1M40xas long as short
Bullet BTC-USD+0.020%+0.0069%1h$247K$3.3M20xas long as short
dYdX BTC-USD+0.020%0.0000%1h$16.7M$14.7M50xas long as short
KuCoin XBTUSDTM+0.022%+0.0064%8h$789.9M$581.5M125xas long as short
Kalshi KXBTCPERP+0.022%0.0000%8h$9.0M$512.3M6.4xas long as short
Injective BTC/USDC PERP+0.024%+0.0180%1h$308K$27.0M52xas long as short
Phoenix BTC+0.025%+0.0015%1h$1.6M$10.8M40xas long as short
Lighter BTC+0.026%+0.0096%1h$179.9M$869.0M50xas long as short
Lighter RH BTC+0.026%+0.0096%1h$25.5M$133.0M50xas long as short
gTrade (Gains Network) BTC/USD+0.030%L +0.0004% / S −0.0004%1h$36.7M—200xas long as short
GMX BTC/USD [WBTC.b-USDC]+0.033%L +0.0199% / S −0.0202%1h$13.3M—200xas long as short
Vest BTC-PERP+0.041%+0.0100%1h—$13.1M50xas long as short
Bluefin BTC-PERP+0.043%−0.0574%1h$143K$401K40xas long as short
Kraken Futures PF_XBTUSD+0.050%+0.0042%1h$187.0M$760.0M100xas long as short
Coinbase International BTC-PERP-INTX+0.076%+0.0112%1h$144.5M$6.18B50xas long as short
Deribit BTC-PERPETUAL+0.105%+0.0449%1h$854.9M$953.6M50xas long as short
Hyperliquid BTC+0.112%+0.0134%1h$3.87B$4.12B40xas long as short