data as of
Settings8H · net · $10k
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Price arb /

BTC

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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−$12
spread now+0.036%7d average−0.060%fees + slippage, in and out−$22spread needed0.216%
Long on PhoenixShort on Bluefin
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongPhoenix BTC85,904−0.0086get 0.0011% / 1h59m 20s$1.8M$10.7M40x
ShortBluefin BTC-PERP85,9350.0100get 0.0013% / 1h59m 20s$143K$408K40x

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
$3.61
Funding while held
$5.57
Slippage, 4 orders
−$7.65
Fee Phoenix: 3.5 bp × 2 orders
−$7
Fee Bluefin: 3.5 bp × 2 orders
−$7
Net
−$12.47
Spread needed to break even
0.216%
Slippage from Phoenix: live order book, 1 min ago; Bluefin: live order book, 51 min ago.

Cost of waiting

funding view
Funding /8h
+0.0186%
Per $10,000 a day
+$5.57
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 Phoenix live order book, 1 min ago0.06 bp3.7 bp −$46.0 bp −$6011.7 bp −$1,166doesn't fit
Sell Bluefin live order book, 51 min ago0.99 bp7.1 bp −$711.8 bp −$118doesn't fitdoesn't fit

BTC price on every exchange

against the cheapest. Click to use as the short leg.
Arcus85,867.7cheapestHTX85,878.2+0.012%KuCoin85,879.7+0.014%Paradex85,880.8+0.015%SoDEX85,881+0.015%Phemex85,881+0.015%Aevo85,881.9+0.016%Popdex85,883+0.018%Nado85,883.9+0.019%Backpack85,883.9+0.019%Binance85,885+0.020%Aster85,885.9+0.021%Extended85,886.6+0.022%BloFin85,887.1+0.023%OKX85,887.4+0.023%Bybit85,887.8+0.023%BingX85,888.4+0.024%StandX85,889+0.025%Bitget85,889.7+0.026%Derive85,890.7+0.027%SunX85,890.7+0.027%MEXC85,890.8+0.027%ApeX Omni85,892.8+0.029%Reya85,895+0.032%Gate85,896.1+0.033%edgeX85,897.4+0.035%Lighter85,897.7+0.035%Lighter RH85,897.7+0.035%Hotstuff85,898+0.035%Orderly85,899.1+0.037%Pacifica85,903.1+0.041%Perpl85,903.6+0.042%
Phoenix85,904+0.042%
Bullet85,905.7+0.044%01 Exchange85,909.8+0.049%Polymarket Perps85,910+0.049%Variational Omni85,911.7+0.051%Kraken Futures85,923.5+0.065%Ondo Perps85,927+0.069%RISEx85,928.4+0.071%Jupiter Perps85,930.9+0.074%gTrade (Gains Network)85,931.7+0.075%GMX85,932.4+0.075%
Bluefin85,935+0.078%
Kalshi85,944+0.089%Vest85,949.6+0.095%Injective85,951+0.097%dYdX85,951.4+0.097%Coinbase International85,953.1+0.099%Deribit85,960+0.108%Hibachi85,965.2+0.114%Bulk85,976.3+0.126%Hyperliquid85,984+0.135%Aftermath Perps85,984.6+0.136%

BTC on 54 venues

cheapest first. Swap a leg.
Exchangevs long legFunding /8hEveryOIVol 24hMax lev
Arcus BTC-USD−0.042%+0.0100%1h$6.1M$85.5M40xas long as short
HTX BTC-USDT−0.030%+0.0069%8h$2.29B$851.3M200xas long as short
KuCoin XBTUSDTM−0.028%+0.0022%8h$790.3M$617.2M125xas long as short
Paradex BTC-USD-PERP−0.027%+0.0091%8h$4.4M$6.7M50xas long as short
SoDEX BTC-USD−0.027%−0.0028%1h$60.9M$283.6M40xas long as short
Phemex BTCUSDT−0.027%−0.0021%8h$153.1M$409.9M150xas long as short
Aevo BTC-PERP−0.026%+0.0056%1h$2.4M$1.5M20xas long as short
Popdex BTCUSDT−0.024%−0.0032%1h$8.5M$45.8M100xas long as short
Nado BTC-PERP−0.023%+0.0100%1h$23.8M$230.2M50xas long as short
Backpack BTC_USDC_PERP−0.023%+0.0100%1h$38.7M$109.6M75xas long as short
Show all 54 venues
Exchangevs long legFunding /8hEveryOIVol 24hMax lev
Binance BTCUSDT−0.022%+0.0055%8h$9.50B$22.04B150xas long as short
Aster BTCUSDT−0.021%+0.0037%8h$487.5M$1.13B200xas long as short
Extended BTC-USD−0.020%+0.0104%1h$48.9M$209.6M50xas long as short
BloFin BTC-USDT−0.020%−0.0064%8h$429.9M$568.3M150xas long as short
OKX BTC-USDT-SWAP−0.019%+0.0020%8h$2.66B$11.69B100xas long as short
Bybit BTCUSDT−0.019%+0.0100%8h$5.20B$8.59B150xas long as short
BingX BTC-USDT−0.018%−0.0004%8h—$1.41B—as long as short
StandX BTC-USD−0.017%+0.0100%1h$30.6M$230.3M40xas long as short
Bitget BTCUSDT−0.017%−0.0004%8h$2.97B$4.70B150xas long as short
Derive BTC-PERP−0.016%+0.0100%1h$30.3M$59.2M15xas long as short
SunX BTC-USDT−0.015%+0.0100%8h$3.3M$6.1M100xas long as short
MEXC BTC_USDT−0.015%+0.0055%8h$5.09B$5.12B500xas long as short
ApeX Omni BTCUSDT−0.013%−0.0115%1h$139.3M$318.2M100xas long as short
Reya BTCRUSDPERP−0.010%−0.0020%1h$6.7M$137.9M40xas long as short
Gate BTC_USDT−0.009%−0.0019%8h$6.12B$9.25B200xas long as short
edgeX BTCUSDC−0.008%+0.0100%4h$278.4M$884.5M100xas long as short
Lighter BTC−0.007%+0.0096%1h$172.8M$897.0M50xas long as short
Lighter RH BTC−0.007%+0.0096%1h$24.9M$132.3M50xas long as short
Hotstuff BTC-PERP−0.007%−0.0080%1h$9K$4K50xas long as short
Orderly PERP_BTC_USDC−0.006%+0.0100%8h$2.4M$7.3M100xas long as short
Pacifica BTC−0.001%+0.0100%1h$37.0M$362.8M50xas long as short
Perpl BTC0.000%−0.0112%43m$406K$29.3M6.7xas long as short
Phoenix BTClong0.000%−0.0086%1h$1.8M$10.7M40x
Bullet BTC-USD+0.002%+0.0091%1h$243K$3.3M20xas long as short
01 Exchange BTCUSD+0.007%−0.0056%1h$287K$2.4M50xas long as short
Polymarket Perps BTC-USD+0.007%+0.0100%1h$11.0M$11.7M50xas long as short
Variational Omni BTC+0.009%+0.0098%8h$172.1M$512.2M—as long as short
Kraken Futures PF_XBTUSD+0.023%+0.0071%1h$186.6M$822.5M100xas long as short
Ondo Perps BTC-USD.P+0.027%+0.0100%1h$3.9M$16.3M25xas long as short
RISEx BTC/USDC+0.028%+0.0132%1h$8.7M$38.7M25xas long as short
Jupiter Perps WBTC-PERP+0.031%L +0.0104% / S +0.0048%1h—$89.7M500xas long as short
gTrade (Gains Network) BTC/USD+0.032%L +0.0005% / S −0.0004%1h$36.8M—200xas long as short
GMX BTC/USD [WBTC.b-USDC]+0.033%L +0.0198% / S −0.0175%1h$12.5M—200xas long as short
Bluefin BTC-PERPshort+0.036%+0.0100%1h$143K$408K40x
Kalshi KXBTCPERP+0.047%0.0000%8h$12.8M$585.4M6.4xas long as short
Vest BTC-PERP+0.053%+0.0100%1h—$11.9M50xas long as short
Injective BTC/USDC PERP+0.055%+0.0108%1h$308K$27.0M52xas long as short
dYdX BTC-USD+0.055%0.0000%1h$17.3M$17.5M50xas long as short
Coinbase International BTC-PERP-INTX+0.057%+0.0104%1h$151.8M$6.23B50xas long as short
Deribit BTC-PERPETUAL+0.065%+0.0130%1h$910.6M$1.12B50xas long as short
Hibachi BTC/USDT-P+0.071%+0.0216%1h$705K$7.4M30xas long as short
Bulk BTC-USD+0.084%+0.0100%1h$558.9M$144.9M40xas long as short
Hyperliquid BTC+0.093%+0.0182%1h$3.91B$4.51B40xas long as short
Aftermath Perps BTCUSD+0.094%+0.0022%1h$86K$154K20xas long as short