Spot — Futures · delta-neutral basis

Buy spot, short the perp.
Basis closes, funding pays you to wait.

Delta-neutral arbitrage on the basis between a spot listing and the perpetual on the same asset. Open both legs, collect funding while the spot–perp gap closes. Risk-bounded by margin, not by direction. Hedge channel includes the next-funding-flip prediction so you can size the hold.

Start 3-day trial See plans
20+ spot + perp venues basis + funding hours–days hold delta-zero
How it works

From basis spotted to a hedged position.

01 / SCAN

Pair spot + perp

For every token, walk every spot listing and every perpetual market. Compute basis = (perp − spot) / spot in real time. Both directions tracked: spot cheap (long basis) and spot rich (short basis).

02 / VERIFY

Net of fees + funding

Subtract taker fees on both legs, add expected funding income across the projected hold. Only positive net-after-funding entries qualify. Funding flips factored in via the next-flip predictor.

03 / SIZE

Margin + depth check

Walk both books to a $1k notional fill. Quote shows the size that survives slippage. Margin requirements per venue surfaced so you don't open a leg that liquidates on a 3% basis blowout.

04 / DELIVER

Hedge channel + dashboard

Alert lists both legs with deeplinks, funding rates with countdown to next flip, projected net at 8h / 24h / 72h holds. Dashboard tracks the open basis live so you can close when the gap closes.

Coverage

Spot listings + perpetual venues, paired.

Same scanner that powers Spot–Spot — re-cast against perpetuals. Cross-venue legs are valid: buy spot on Bybit, short perp on Hyperliquid, no problem.

Binance Bybit OKX Bitget KuCoin MEXC Gate.io BingX HTX Bitmart Phemex Hyperliquid Lighter EdgeX AscendEX + updates monthly
Signal format

What the hedge channel sends.

Header carries the basis percentage, the magnitude tier, and the projected 8-hour net at $1k. Buy and Sell rows show spot leg + perpetual leg with deposit / withdraw flags on the spot side and margin status on the perp side.

The HEDGE table shows every spot venue paired against the chosen perpetual, sorted by basis. Funding column tells you what you'll earn (or pay) per 8h cycle while the position is open.

  • Magnitude tiers: HIGH ≥3% basis, MEDIUM ≥1.5%, LOW ≥0.6%
  • Funding column annotated with cadence (1h / 4h / 8h)
  • Projected net for 8h / 24h / 72h holds inline
  • Hedge route persists in dashboard until you close it
F
Finder · HEDGE HIGH
spot + perp basis
BANANA +3.84% ⚡(32$ on $1000) | BSC
Buy spot: Bybit_s $44.80 🟢
Short perp: Bybit_f $46.52 🟢
——————— HEDGE ⬇3/9 ——————— Spot Dif Prof Price Funding Hold Bybit_s 3.84% 32$ 44.80 +0.012% 8h 72h Mexc_s 3.21% 25$ 45.06 +0.009% 8h 72h Okx_s 0.00% 0$ 46.52 -- --
⚙️ Projected net @ $1k:
8h: +$32 · 24h: +$38 · 72h: +$54
🕔 2026-04-29 16:08:14 UTC
16:08 ✓✓
Open hedgesBy basisFunding flips
⌕ token, venue, status…
Hedge / Token
Spot
Perp
Basis
Net 8h
Funding
Age
B
BYBIT_s ⇄ BYBIT_f
BANANA
Bybit
$44.80
Bybit_f
$46.52
+3.84%
+$32
+0.012% 8h
12s
L
OKX_s ⇄ HL_f
LINK
OKX
$13.41
Hyperliquid
$13.79
+2.83%
+$23
+0.018% 1h
28s
A
MEXC_s ⇄ BITGET_f
ARB
MEXC
$0.482
Bitget
$0.494
+2.49%
+$19
+0.009% 8h
41s
O
BINANCE_s ⇄ BYBIT_f
OP
Binance
$1.412
Bybit_f
$1.439
+1.91%
+$15
+0.006% 8h
1m
S
KUCOIN_s ⇄ OKX_f
SUI
KuCoin
$3.082
OKX_f
$3.135
+1.72%
+$13
+0.011% 8h
2m
Dashboard

Track open hedges, watch funding flip.

Open hedges shows positions the dashboard is watching for you — basis live, funding countdown live, projected net updates each tick. Close when the gap closes.

By basis is the pre-trade view: every spot+perp pair sorted by current basis, magnitude tier filter, depth filter so you don't open into thin perp books.

  • Funding flips highlighted 30 min before they happen
  • Margin-utilisation column per venue (warns at >60%)
  • Click any row → side-by-side spot + perp orderbook walk
  • Auto-mute already-open hedges so the channel doesn't repeat
Included in

Spot–Futures hedge is in Spreads and All-in-one.

Same plan as Spot–Spot — the hedge channel is part of the Spreads bundle and All-in-one.

Spreads
All CEX–CEX spreads + futures + hedge.
$79 / mo
$209 / quarter — 12% off
See full plan
Recommended
All-in-one
Spreads + DEX-Dumps. $29/mo less than buying separately.
$99 / mo
$249 / quarter — 16% off
See full plan
Spot–Futures FAQ

Practical questions about basis trading.

How is this different from regular Spot–Spot arbitrage?
Spot–Spot needs a transfer between venues — money moves on-chain, you eat network fees and confirmation time. Spot–Futures is delta-neutral: the spot leg and the perp leg cancel out directionally, so you don't care if the underlying moves up or down while you wait. Profit comes from the basis closing plus the funding rate paying you to hold. Holds are measured in hours and days, not minutes.
What's the worst-case loss?
Margin liquidation on the perp leg if the basis blows out further before it closes. The signal includes margin requirements per venue and warns when basis volatility on a token has been >5% in the last 24h — those are the dangerous ones. Sizing the perp at conservative leverage (≤3×) keeps you alive even on outliers.
How long should I hold a typical hedge?
Depends on the basis size and the funding sign. Big basis (≥3%) usually closes inside 24h — exit when the spread halves. Small basis (≤1.5%) is funded-rate driven; hold across as many funding cycles as the rate stays positive. Dashboard shows projected net at 8h / 24h / 72h so you can pick the exit upfront.
Cross-venue hedge — does that complicate it?
Slightly. Same-venue hedge (e.g. Bybit spot + Bybit perp) shares margin and netted PnL. Cross-venue (Bybit spot + Hyperliquid perp) means two account balances and two margin pools to monitor. The signal flags cross-venue routes explicitly so you can choose. Dashboard tracks both modes the same way.
What's the minimum size that makes sense?
$500 each leg ($1k total) is the floor. Below that, taker fees on both sides eat the basis. Most traders run $2–10k per hedge across 3–8 open positions. The basis closing at scale gives you a smoother PnL than spot-spot's per-trade lottery.
Other arbitrage types

Different shape, different rhythm.

Spot — Spot (CEX-CEX)→ Futures — Futures→ Funding rate→
Three days, no card

Open a hedge inside the trial.

3 days inside the live HEDGE channels. If the basis flow fits how you trade, the math works. If not, walk — no card on file.

Start trial