A delta-neutral position on perpetuals - nothing moves between venues
Long on one exchange, short on another in the same coin. Nothing has to be moved between them: the margin already sits on both venues and both legs open within the same minute - so there is no network fee and no half-hour wait in which the price walks away. The position does not depend on market direction: you earn from the gap between prices and from the funding rate, not from guessing where bitcoin goes.
- Sixteen futures venues; the gap is measured across both legs at once - nothing has to be moved between them.
- Funding is normalised to an annual rate, so venues paying on different intervals can be compared at all.
- A liquidation price for each leg at your leverage - you see where the position turns dangerous.
- Taker and maker fees on both exchanges are subtracted before anything reaches the list.