data as of
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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.

Spread before costs (cost unknown: a leg has no order-book sample)+0.164%
7d average+0.019%if it closes, per $10,000$16funding while held, a day+$0.90
Long on Variational OmniShort on Lighter
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongVariational Omni BTC85,738.50.0066pay 0.0066% / 8h6h 31m$172.2M$506.8M—
ShortLighter BTC85,879.40.0096get 0.0012% / 1h31m 36s$171.5M$941.4M50x

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
$16.44
Funding while held
$0.9
Slippage, 4 orders
no order book: not counted
Fee Variational Omni: 0 bp × 2 orders
$0
Fee Lighter: 0 bp × 2 orders
$0
Net
$17.34
Spread needed to break even
0.000%
Slippage unknown: Variational Omni: RFQ quote, 4 min ago; Lighter: live order book, 9 min ago. Net counts fees only.

Cost of waiting

funding view
Funding /8h
+0.0030%
Per $10,000 a day
+$0.90
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 Variational Omni RFQ quote, 4 min ago0.52 bpdoesn't fit1.3 bp −$132.4 bp −$236doesn't fit
Sell Lighter live order book, 9 min ago0.01 bp0.5 bp −$10.8 bp −$81.8 bp −$1764.1 bp −$2,034

BTC price on every exchange

against the cheapest. Click to use as the short leg.
Variational Omni85,738.5cheapest
Phoenix85,745+0.008%Injective85,811+0.085%Bulk85,820.1+0.095%Arcus85,829.8+0.107%SunX85,830.7+0.108%Reya85,832.1+0.109%edgeX85,834.9+0.112%OKX85,836.8+0.115%BloFin85,837.8+0.116%Polymarket Perps85,843+0.122%Bybit85,845.7+0.125%Binance85,845.8+0.125%Ondo Perps85,858+0.139%Bullet85,859+0.141%HTX85,860.9+0.143%KuCoin85,861.4+0.143%Aevo85,863.1+0.145%MEXC85,864.1+0.147%StandX85,864.7+0.147%Aster85,865.3+0.148%Perpl85,865.5+0.148%SoDEX85,866+0.149%Aftermath Perps85,866+0.149%Jupiter Perps85,866+0.149%Bitget85,870+0.153%Katana Perps85,871+0.155%Nado85,871.4+0.155%Gate85,872.9+0.157%Popdex85,873+0.157%Derive85,874+0.158%Extended85,874.2+0.158%Phemex85,874.5+0.159%BingX85,876+0.160%Orderly85,877.4+0.162%Lighter RH85,877.5+0.162%01 Exchange85,878.1+0.163%
Lighter85,879.4+0.164%
Hotstuff85,881+0.166%Backpack85,882.7+0.168%ApeX Omni85,882.9+0.168%Pacifica85,884.8+0.171%Hibachi85,888+0.174%Bluefin85,896.7+0.185%RISEx85,896.7+0.185%GMX85,897.6+0.186%gTrade (Gains Network)85,899+0.187%Kalshi85,900+0.188%dYdX85,904.2+0.193%Vest85,904.7+0.194%Paradex85,908.1+0.198%Kraken Futures85,914.3+0.205%Deribit85,941.9+0.237%Hyperliquid85,964+0.263%Coinbase International85,971.7+0.272%

BTC on 55 venues

cheapest first. Swap a leg.
Exchangevs long legFunding /8hEveryOIVol 24hMax lev
Variational Omni BTClong0.000%+0.0066%8h$172.2M$506.8M—
Phoenix BTC+0.008%−0.0096%1h$1.9M$11.0M40xas long as short
Injective BTC/USDC PERP+0.085%−0.0019%1h$308K$27.0M52xas long as short
Bulk BTC-USD+0.095%−0.0019%1h$560.6M$139.0M40xas long as short
Arcus BTC-USD+0.107%−0.0377%1h$6.8M$85.2M40xas long as short
SunX BTC-USDT+0.108%+0.0100%8h$3.3M$5.8M100xas long as short
Reya BTCRUSDPERP+0.109%−0.0018%1h$6.7M$138.1M40xas long as short
edgeX BTCUSDC+0.112%+0.0100%4h$280.2M$882.2M100xas long as short
OKX BTC-USDT-SWAP+0.115%+0.0014%8h$2.66B$11.55B100xas long as short
BloFin BTC-USDT+0.116%−0.0094%8h$424.8M$566.8M150xas long as short
Show all 55 venues
Exchangevs long legFunding /8hEveryOIVol 24hMax lev
Polymarket Perps BTC-USD+0.122%+0.0100%1h$11.0M$11.7M50xas long as short
Bybit BTCUSDT+0.125%+0.0015%8h$5.24B$8.59B150xas long as short
Binance BTCUSDT+0.125%+0.0026%8h$9.48B$22.08B150xas long as short
Ondo Perps BTC-USD.P+0.139%+0.0100%1h$4.0M$16.7M25xas long as short
Bullet BTC-USD+0.141%+0.0090%1h$230K$3.3M20xas long as short
HTX BTC-USDT+0.143%+0.0100%8h$2.28B$833.4M200xas long as short
KuCoin XBTUSDTM+0.143%0.0000%8h$797.3M$614.8M125xas long as short
Aevo BTC-PERP+0.145%+0.0024%1h$2.4M$1.3M20xas long as short
MEXC BTC_USDT+0.147%+0.0025%8h$5.16B$5.13B500xas long as short
StandX BTC-USD+0.147%+0.0064%1h$30.7M$225.5M40xas long as short
Aster BTCUSDT+0.148%+0.0014%8h$504.9M$1.10B200xas long as short
Perpl BTC+0.148%−0.0223%43m$409K$26.7M6.7xas long as short
SoDEX BTC-USD+0.149%−0.0024%1h$60.8M$284.2M40xas long as short
Aftermath Perps BTCUSD+0.149%+0.0083%1h$86K$154K20xas long as short
Jupiter Perps WBTC-PERP+0.149%L +0.0104% / S +0.0048%1h—$85.0M500xas long as short
Bitget BTCUSDT+0.153%−0.0005%8h$2.96B$4.69B150xas long as short
Katana Perps BTC-USD+0.155%+0.0100%8h$191K$5.7M50xas long as short
Nado BTC-PERP+0.155%+0.0100%1h$23.2M$227.2M50xas long as short
Gate BTC_USDT+0.157%+0.0001%8h$6.07B$9.55B200xas long as short
Popdex BTCUSDT+0.157%+0.0040%1h$8.5M$46.5M100xas long as short
Derive BTC-PERP+0.158%+0.0100%1h$30.4M$59.6M15xas long as short
Extended BTC-USD+0.158%+0.0008%1h$48.7M$199.6M50xas long as short
Phemex BTCUSDT+0.159%−0.0019%8h$148.4M$415.2M150xas long as short
BingX BTC-USDT+0.160%−0.0005%8h—$1.37B—as long as short
Orderly PERP_BTC_USDC+0.162%+0.0100%8h$2.4M$7.4M100xas long as short
Lighter RH BTC+0.162%+0.0096%1h$24.6M$136.2M50xas long as short
01 Exchange BTCUSD+0.163%−0.0048%1h$303K$2.4M50xas long as short
Lighter BTCshort+0.164%+0.0096%1h$171.5M$941.4M50x
Hotstuff BTC-PERP+0.166%−0.0080%1h$9K$4K50xas long as short
Backpack BTC_USDC_PERP+0.168%+0.0100%1h$37.4M$125.6M75xas long as short
ApeX Omni BTCUSDT+0.168%−0.0093%1h$139.5M$319.2M100xas long as short
Pacifica BTC+0.171%+0.0100%1h$37.0M$391.7M50xas long as short
Hibachi BTC/USDT-P+0.174%+0.0112%1h$752K$7.2M30xas long as short
Bluefin BTC-PERP+0.185%−0.2309%1h$143K$411K40xas long as short
RISEx BTC/USDC+0.185%+0.0040%1h$9.1M$38.6M25xas long as short
GMX BTC/USD [WBTC.b-USDC]+0.186%L +0.0172% / S −0.0153%1h$12.7M—200xas long as short
gTrade (Gains Network) BTC/USD+0.187%L +0.0005% / S −0.0004%1h$36.7M—200xas long as short
Kalshi KXBTCPERP+0.188%+0.0105%8h$13.5M$631.5M6.4xas long as short
dYdX BTC-USD+0.193%−0.0030%1h$17.1M$18.1M50xas long as short
Vest BTC-PERP+0.194%+0.0100%1h—$11.5M50xas long as short
Paradex BTC-USD-PERP+0.198%+0.0096%8h$4.4M$6.8M50xas long as short
Kraken Futures PF_XBTUSD+0.205%−0.0073%1h$190.6M$813.3M100xas long as short
Deribit BTC-PERPETUAL+0.237%+0.0189%1h$914.1M$1.11B50xas long as short
Hyperliquid BTC+0.263%+0.0137%1h$3.92B$4.40B40xas long as short
Coinbase International BTC-PERP-INTX+0.272%+0.0184%1h$128.7M$5.92B50xas long as short