Futures · no coin transfer
Futures arbitrage: delta-neutral opportunities across 24 exchanges
A long where the perpetual is cheaper and a short where it is dearer, on the same coin and for the same amount. The coin never moves between exchanges, so there is no network fee and no waiting. The VVARB screener finds these gaps across 24 futures exchanges and works them out together with fees on both legs, funding and the liquidation price.
Free after sign-up, on data six hours old. No bank card needed.
What futures arbitrage is
Perpetual futures on the same coin trade at different prices on different exchanges: each has its own order book, its own traders and its own funding. Futures arbitrage captures the gap with two opposite positions: a long where it is cheaper and a short where it is dearer. The positions are equal in size, so the coin’s own price barely affects the result: if the coin rises, the long gains as much as the short loses. A position like this is called delta-neutral.
The money comes when the two prices converge: both positions are closed and the difference is yours. Funding is part of the sum too - the regular payments between longs and shorts. If the rate on the short’s exchange is higher than on the long’s, the position also collects funding while you wait for convergence. If it is the other way round, funding becomes the cost of waiting.
The key difference from spot arbitrage: collateral already sits on both exchanges, and both legs open within a minute. No network fee, no half-hour wait for a transfer, and no risk of withdrawals closing while the coin is in transit.
A worked example
| Convergence: both prices reach $101.00 | |
| Long: 10 × ($101.00 − $100.00) | +$10.00 |
| Short: 10 × ($100.80 − $101.00) | −$2.00 |
| Taker fees of 0.05% to open and close both legs | −$2.01 |
| Funding over 2 settlements: long pays 0.01%, short receives 0.03% | +$0.40 |
| Total | +$6.39 |
| On about $1,004 collateral (two legs at leverage 2) | ≈ 0.64% |
The coin rose 1% over this time, but the result does not depend on it: the money came from the two prices converging. Had funding run against the position, it would have been deducted just like the fees, which is why the screener counts them together.
What the screener shows
- The price gap across both legs on 24 futures exchanges, marked confirmed once it holds rather than flashing for a second.
- Funding as APR. Exchanges settle every 8, 4 or 1 hour; the screener annualises the rates so they can be compared.
- Taker and maker fees on both exchanges are deducted before an opportunity is listed. You can enter your own fees.
- The liquidation price of each leg at your leverage: you can see how big a move would make the position dangerous.
- Price charts on both exchanges and the history of the gap: whether it is usual for this pair or not.
- Funding history for the coin on both exchanges: a one-off spike or a lasting difference.
- Filters: minimum gap and return, trading volume, the exchanges you use, holding time, a blacklist.
How to use the screener
Sign up
A free account opens the screener straight away with every filter and calculation, on data six hours old. No bank card needed.
Fund two exchanges
Futures arbitrage needs USDT on both exchanges: a long opens on one and a short on the other.
Set size, leverage and fees
The screener recalculates the return, funding and liquidation price for your terms.
Open both legs at once
Long where it is cheaper, short where it is dearer, for the same number of coins. The smaller the time gap between the legs, the closer the result to the numbers.
Close on convergence
When the gap is back to normal, close both positions. Watch the liquidation price if the coin moves sharply.
Sign up in a minute, no bank card needed
What eats the profit
| Risk | What happens | What the screener does |
|---|---|---|
| Fees on four trades | Opening and closing two legs means four fees | Deducts both exchanges’ fees from the return |
| Funding against you | While you wait for convergence, the position pays | Shows both exchanges’ funding as APR and over your holding time |
| One leg liquidated | The price moved sharply and collateral on one exchange ran out | Shows each leg’s liquidation price at your leverage |
| The gap widened | Prices drifted further apart before converging | Shows the history of the gap and its usual size |
| Illiquid contract | A large size cannot fill without slippage | Filters by turnover and shows the order book |
A delta-neutral position protects you from the coin’s price moving, but not from one leg being liquidated or the gap widening. Keep spare collateral and stay away from maximum leverage.
Free and with a subscription
| Free | Subscription | |
|---|---|---|
| Every filter, calculation and chart | Yes | Yes |
| Data | 6 hours delayed | Live |
| Order book and depth | - | Yes |
| Prices and funding on every exchange for a coin | - | Yes |
| Telegram alerts | - | Yes |
Free access has no time limit. A subscription is for when you are ready to trade: on futures a gap lives for minutes, so a six-hour delay is only good for learning.
Questions about futures arbitrage
How is futures arbitrage different from spot arbitrage?
On spot you buy on one exchange, transfer the coin and sell on another. On futures you open a long and a short at the same time on two exchanges, and the coin never moves. No network fee or transfer wait, but you need collateral on both exchanges and must watch liquidation.
What does delta-neutral mean?
Two opposite positions of the same size: when the coin rises the long gains what the short loses, and the other way round. The result depends not on the price direction but on whether the two prices converge, and on funding.
What leverage should I use?
Higher leverage needs less collateral but brings the liquidation price closer. For arbitrage people usually keep leverage low, 2-3, so a sharp move does not close one leg. The screener shows the liquidation price for your leverage.
Can I earn on funding alone?
Yes, that is a strategy of its own: the position is held for the rate difference between exchanges. VVARB has the Funding and OI screener and a free funding rate table for it.
How long should I hold the position?
Until the gap is back to normal. That can take minutes or days. The longer you hold, the more funding matters: the screener shows it over your holding time.
Does the screener open trades for me?
No. It only finds and calculates opportunities. It does not ask for API keys and has no access to your money: you open the positions yourself.
What is the difference between free access and a subscription?
Free access opens the same screener on data six hours old. A subscription adds live prices, the order book, prices and funding on every exchange and Telegram alerts.
More on the subject: the delta-neutral strategy, funding rate arbitrage, what the funding rate is, open interest and the risks of arbitrage.
Start with free access
Every filter and calculation on real data six hours old, with no time limit. A subscription from $19.92 a month opens live prices, the order book and Telegram alerts.