BTC

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0020%/8h= +2.2% APRnext payment +$0.02 per $10,000 · paid last 24h −0.161%

Price spread now: Bluefin against Aevo+0.053%7-day average −0.003% · you sell dearer than you buy

Net, funding: paid 7d − costs−$58as in the Funding arb table

Net, price: spread back to 7d avg − costs−$27as in the Price arb table

costs, in and out, $10k−$320.321% of the position

Long on Aevo Short on Bluefin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.261%−$26 on $10k

Price spread, last 4 days (all we have)−0.051%−$5 · spread now +0.053%, 7d avg −0.003%

Together, before fees−0.311%−$31 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and Bluefin is 0.056% dearer against Aevo than usual: you sell high and buy low: +$6 more if the spread goes back to its 7-day average of −0.003%. Mind the row above: over the last 7 days funding on this pair cost −0.261%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aevo BTC-PERP	85,516.6	0.0080	pay 0.0010% / 1h	39m 14s	$2.5M	$1.7M	20x
Short	Bluefin BTC-PERP	85,562.2	0.0100	get 0.0013% / 1h	39m 14s	$196K	$721K	40x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bluefin against Aevo. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee AevobpFee BluefinbpOrdersPrice spread, now +0.053%Rate

Funding earned: $4.2
Price spread: +0.053% → −0.003%: $5.59
Slippage, 4 orders: −$9.14
Fee Aevo: 8 bp × 2 orders: −$16
Fee Bluefin: 3.5 bp × 2 orders: −$7
Net: −$22.35
Costs to cover: 0.321%
Break-even: 44.2 days

Slippage from Aevo: live order book, 5 min ago; Bluefin: live order book, 25 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy Aevo live order book, 5 min ago	1.33 bp	9.5 bp −$10	10.0 bp −$100	16.1 bp −$1,608	doesn't fit
Sell Bluefin live order book, 25 min ago	0.88 bp	6.0 bp −$6	11.3 bp −$113	doesn't fit	doesn't fit

BTC on 56 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phoenix BTC	−0.0160%	1h	85,585	+0.080%	$2.2M	$10.3M	40x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	85,598	+0.095%	$8K	$3K	50x	as long as short
01 Exchange BTCUSD	−0.0048%	1h	85,548.7	+0.038%	$369K	$2.3M	50x	as long as short
BloFin BTC-USDT	−0.0033%	8h	85,520.2	+0.004%	$414.8M	$661.8M	150x	as long as short
dYdX BTC-USD	0.0000%	1h	85,596	+0.093%	$16.7M	$20.9M	50x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0004% / S −0.0004%	1h	85,541.2	+0.029%	$36.6M	—	200x	as long as short
Nado BTC-PERP	+0.0009%	1h	85,546.6	+0.035%	$22.7M	$221.4M	50x	as long as short
KuCoin XBTUSDTM	+0.0012%	8h	85,540.5	+0.028%	$917.9M	$753.2M	125x	as long as short
Aster BTCUSDT	+0.0019%	8h	85,550.2	+0.039%	$515.5M	$1.11B	200x	as long as short
BingX BTC-USDT	+0.0054%	8h	85,536.5	+0.023%	—	$1.54B	—	as long as short

Show all 56 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX BTC-USDT	+0.0066%	8h	85,525	+0.010%	$2.27B	$932.7M	200x	as long as short
Reya BTCRUSDPERP	+0.0067%	1h	85,546.8	+0.035%	$6.7M	$146.4M	40x	as long as short
Bitget BTCUSDT	+0.0067%	8h	85,521.7	+0.006%	$2.95B	$5.02B	150x	as long as short
Deribit BTC-PERPETUAL	+0.0077%	1h	85,560.3	+0.051%	$893.3M	$1.52B	50x	as long as short
Injective BTC/USDC PERP	+0.0079%	1h	85,578	+0.072%	$340K	$26.9M	52x	as long as short
Phemex BTCUSDT	+0.0079%	8h	85,522.4	+0.007%	$148.2M	$478.5M	150x	as long as short
Aevo BTC-PERPlong	+0.0080%	1h	85,516.6	long leg	$2.5M	$1.7M	20x
SunX BTC-USDT	+0.0080%	8h	85,526.2	+0.011%	$2.9M	$6.1M	100x	as long as short
Binance BTCUSDT	+0.0087%	8h	85,529.4	+0.015%	$9.32B	$23.88B	150x	as long as short
MEXC BTC_USDT	+0.0087%	8h	85,535.6	+0.022%	$5.04B	$5.61B	500x	as long as short
Lighter BTC	+0.0096%	1h	85,526.3	+0.011%	$169.7M	$987.7M	50x	as long as short
Lighter RH BTC	+0.0096%	1h	85,529.8	+0.015%	$23.9M	$148.0M	50x	as long as short
Popdex BTCUSDT	+0.0096%	1h	85,547	+0.036%	$8.4M	$51.9M	100x	as long as short
Paradex BTC-USD-PERP	+0.0099%	8h	85,594.3	+0.091%	$3.8M	$8.3M	50x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	85,525	+0.010%	$203K	$7.7M	50x	as long as short
Hyperliquid BTC	+0.0100%	1h	85,615	+0.115%	$3.77B	$4.93B	40x	as long as short
Pacifica BTC	+0.0100%	1h	85,589.5	+0.085%	$40.5M	$573.5M	50x	as long as short
Bybit BTCUSDT	+0.0100%	8h	85,541.9	+0.030%	$5.33B	$9.57B	150x	as long as short
OKX BTC-USDT-SWAP	+0.0100%	8h	85,525.7	+0.011%	$2.56B	$12.10B	100x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	85,534	+0.020%	$3.9M	$17.9M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	85,515.2	−0.002%	$7.2M	$97.1M	40x	as long as short
Bulk BTC-USD	+0.0100%	1h	85,562.7	+0.054%	$616.1M	$358.9M	40x	as long as short
Gate BTC_USDT	+0.0100%	8h	85,545.2	+0.034%	$5.55B	$10.47B	200x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	85,571.6	+0.064%	$35.1M	$171.6M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	85,503.7	−0.015%	$154.4M	$549.8M	—	as long as short
edgeX BTCUSDC	+0.0100%	4h	85,550.1	+0.039%	$278.9M	$928.1M	100x	as long as short
GRVT BTC_USDT_Perp	+0.0100%	8h	85,591.1	+0.087%	$214.8M	$164.1M	50x	as long as short
ApeX Omni BTCUSDT	+0.0100%	1h	85,603.5	+0.102%	$140.0M	$316.2M	100x	as long as short
StandX BTC-USD	+0.0100%	1h	85,620.2	+0.121%	$30.3M	$210.7M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	85,616.3	+0.117%	—	$11.8M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	85,550	+0.039%	$11.0M	$14.1M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	85,538.6	+0.026%	$188K	$3.3M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	85,516.5	0.000%	$2.3M	$8.8M	100x	as long as short
Bluefin BTC-PERPshort	+0.0100%	1h	85,562.2	+0.053%	$196K	$721K	40x
Derive BTC-PERP	+0.0100%	1h	85,521.8	+0.006%	$30.0M	$52.5M	15x	as long as short
SoDEX BTC-USD	+0.0100%	1h	85,521	+0.005%	$59.9M	$336.2M	40x	as long as short
Extended BTC-USD	+0.0104%	1h	85,498.3	−0.021%	$44.1M	$227.2M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0056%	1h	85,583.7	+0.079%	—	$106.0M	500x	as long as short
Coinbase International BTC-PERP-INTX	+0.0112%	1h	85,556.8	+0.047%	$130.4M	$5.08B	50x	as long as short
RISEx BTC/USDC	+0.0120%	1h	85,575.2	+0.069%	$8.3M	$42.3M	25x	as long as short
Kraken Futures PF_XBTUSD	+0.0139%	1h	85,546.2	+0.035%	$187.9M	$947.1M	100x	as long as short
Aftermath Perps BTCUSD	+0.0195%	1h	85,573.8	+0.067%	$78K	$219K	20x	as long as short
Hibachi BTC/USDT-P	+0.0200%	1h	85,624.4	+0.126%	$699K	$7.9M	30x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0203% / S −0.0180%	1h	85,537.9	+0.025%	$13.6M	—	200x	as long as short
Kalshi KXBTCPERP	+0.0213%	8h	85,591	+0.087%	$10.5M	$760.1M	6.4x	as long as short
Perpl BTC	+0.0447%	43m	85,596.3	+0.093%	$522K	$19.4M	6.7x	as long as short