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

BTC

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Alert: funding
Measured
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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.

Alert: spread
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Funding you earn now, next payment 00:00 UTC+0.0074%/8h= +8.1% APRnext payment +$0.74 per $10,000 · paid last 24h +0.019%
Price spread now: SunX against Phemex−0.014%7-day average −0.008% · you buy dearer than you sell
Net, funding: paid 7d − costs−$16as in the Funding arb table
Net, price: spread back to 7d avg − costs−$23as in the Price arb table
costs, in and out, $10k−$220.220% of the position
Long on PhemexShort on SunX
What this pair did over the last
the charts below follow
Funding, last 7 days+0.058%+$6 on $10k
Price spread, last 3 days (all we have)−0.011%−$1 · spread now −0.014%, 7d avg −0.008%
Together, before fees+0.047%+$5 on $10k · with fees, hour by hour
The price spread sits at its 7-day average of −0.008%, so right now this pair is about funding alone: +$2 a day on $10k at the current rate.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongPhemex BTCUSDT86,543.50.0026pay 0.0026% / 8h1h 48m$149.8M$472.7M150x
ShortSunX BTC-USDT86,531.40.0100get 0.0100% / 8h1h 48m$3.4M$5.4M100x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

SunX 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
$15.46
Price spread: −0.014% → −0.008%
−$0.59
Slippage, 4 orders
−$2.01
Fee Phemex: 6 bp × 2 orders
−$12
Fee SunX: 4 bp × 2 orders
−$8
Net
−$7.14
Costs to cover
0.220%
Break-even
10.2 days
Slippage from Phemex: live order book, 5 min ago; SunX: live order book, 10 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, 5 min ago0.01 bp6.2 bp −$66.8 bp −$6814.9 bp −$1,492doesn't fit
Sell SunX live order book, 10 min ago0.87 bp5.0 bp −$56.7 bp −$6710.2 bp −$1,023doesn't fit

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−0.0196%1h86,588.8+0.052%$79K$199K20xas long as short
Phoenix BTC−0.0159%1h86,601+0.066%$2.2M$11.8M40xas long as short
Hotstuff BTC-PERP−0.0080%1h86,529−0.017%$9K$3K50xas long as short
dYdX BTC-USD−0.0020%1h86,542.1−0.002%$17.5M$20.2M50xas long as short
01 Exchange BTCUSD−0.0008%1h86,552.8+0.011%$359K$2.4M50xas long as short
Aster BTCUSDT−0.0008%8h86,518.6−0.029%$505.1M$1.15B200xas long as short
Perpl BTC0.0000%43m86,550.1+0.008%$420K$24.1M6.7xas long as short
KuCoin XBTUSDTM+0.0003%8h86,516.9−0.031%$850.6M$709.3M125xas long as short
gTrade (Gains Network) BTC/USDL +0.0005% / S −0.0004%1h86,559+0.018%$36.8M—200xas long as short
RISEx BTC/USDC+0.0006%1h86,541.7−0.002%$8.6M$43.3M25xas long as short
Show all 56 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Hibachi BTC/USDT-P+0.0016%1h86,573.2+0.034%$731K$8.1M30xas long as short
Reya BTCRUSDPERP+0.0022%1h86,522.9−0.024%$6.7M$144.7M40xas long as short
Injective BTC/USDC PERP+0.0024%1h86,559+0.018%$315K$26.8M52xas long as short
Deribit BTC-PERPETUAL+0.0025%1h86,582+0.045%$925.7M$1.47B50xas long as short
Phemex BTCUSDTlong+0.0026%8h86,543.5long leg$149.8M$472.7M150x
BingX BTC-USDC+0.0030%8h86,515.8−0.032%—$15.4M—as long as short
Bitget BTCUSDT+0.0039%8h86,528.8−0.017%$2.95B$5.08B150xas long as short
SoDEX BTC-USD+0.0055%1h86,543−0.001%$60.5M$336.8M40xas long as short
Aevo BTC-PERP+0.0056%1h86,524.1−0.022%$2.4M$1.3M20xas long as short
MEXC BTC_USDT+0.0058%8h86,523.1−0.024%$5.18B$5.62B500xas long as short
Binance BTCUSDT+0.0059%8h86,524.5−0.022%$9.42B$24.36B150xas long as short
Gate BTC_USDT+0.0083%8h86,521−0.026%$5.85B$10.62B200xas long as short
Popdex BTCUSDT+0.0088%1h86,530−0.016%$8.5M$52.3M100xas long as short
Bybit BTCUSDT+0.0088%8h86,519.7−0.028%$5.27B$9.72B150xas long as short
Lighter BTC+0.0096%1h86,537.5−0.007%$172.2M$998.2M50xas long as short
Lighter RH BTC+0.0096%1h86,547.2+0.004%$24.0M$151.6M50xas long as short
Nado BTC-PERP+0.0098%1h86,533.1−0.012%$21.7M$233.7M50xas long as short
Katana Perps BTC-USD+0.0100%8h86,518−0.029%$204K$6.8M50xas long as short
Paradex BTC-USD-PERP+0.0100%8h86,564.1+0.024%$4.7M$8.3M50xas long as short
Hyperliquid BTC+0.0100%1h86,595+0.060%$3.81B$5.09B40xas long as short
Pacifica BTC+0.0100%1h86,562.6+0.022%$40.9M$504.7M50xas long as short
OKX BTC-USDT-SWAP+0.0100%8h86,520.3−0.027%$2.55B$12.70B100xas long as short
Ondo Perps BTC-USD.P+0.0100%1h86,534−0.011%$3.9M$18.6M25xas long as short
Arcus BTC-USD+0.0100%1h86,607+0.073%$7.4M$93.9M40xas long as short
Bulk BTC-USD+0.0100%1h86,527.4−0.019%$571.7M$19.3M40xas long as short
Backpack BTC_USDC_PERP+0.0100%1h86,548.8+0.006%$38.2M$153.0M75xas long as short
Variational Omni BTC+0.0100%8h86,521.5−0.025%$156.7M$571.1M—as long as short
edgeX BTCUSDC+0.0100%4h86,522.6−0.024%$279.4M$942.8M100xas long as short
GRVT BTC_USDT_Perp+0.0100%8h86,535.2−0.010%$217.1M$182.2M50xas long as short
ApeX Omni BTCUSDT+0.0100%1h86,588.3+0.052%$141.5M$322.9M100xas long as short
StandX BTC-USD+0.0100%1h86,556+0.014%$30.7M$203.1M40xas long as short
Vest BTC-PERP+0.0100%1h86,584.1+0.047%—$11.6M50xas long as short
Polymarket Perps BTC-USD+0.0100%1h86,540−0.004%$11.1M$13.6M50xas long as short
Bullet BTC-USD+0.0100%1h86,533−0.012%$193K$3.4M20xas long as short
Orderly PERP_BTC_USDC+0.0100%8h86,543.20.000%$2.4M$8.6M100xas long as short
Bluefin BTC-PERP+0.0100%1h86,556+0.014%$140K$618K40xas long as short
Derive BTC-PERP+0.0100%1h86,532−0.013%$30.0M$61.6M15xas long as short
SunX BTC-USDTshort+0.0100%8h86,531.4−0.014%$3.4M$5.4M100x
HTX BTC-USDT+0.0100%8h86,538.5−0.006%$2.30B$958.9M200xas long as short
Extended BTC-USD+0.0104%1h86,509.9−0.039%$46.4M$225.2M50xas long as short
Jupiter Perps WBTC-PERPL +0.0104% / S +0.0048%1h86,556.2+0.015%—$98.8M500xas long as short
Coinbase International BTC-PERP-INTX+0.0112%1h86,586.8+0.050%$131.8M$5.76B50xas long as short
Kraken Futures PF_XBTUSD+0.0121%1h86,585.5+0.049%$191.3M$937.0M100xas long as short
BloFin BTC-USDT+0.0179%8h86,543.40.000%$415.3M$654.6M150xas long as short
GMX BTC/USD [WBTC.b-USDC]L +0.0180% / S −0.0210%1h86,549.4+0.007%$15.0M—200xas long as short
Kalshi KXBTCPERP+0.0187%8h86,562+0.021%$9.6M$726.1M6.4xas long as short