BTC

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0216%/8h= −23.7% APRnext payment −$0.27 per $10,000 · paid last 24h −0.186%

Price spread now: Bluefin against Aftermath Perps+0.017%7-day average −0.043% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$25as in the Price arb table

costs, in and out, $10k−$310.310% of the position

Long on Aftermath Perps Short on Bluefin

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.452%−$45 on $10k

Price spread, last 3 days (all we have)−0.067%−$7 · spread now +0.017%, 7d avg −0.043%

Together, before fees−0.519%−$52 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Bluefin is 0.060% dearer against Aftermath Perps than usual: you sell high and buy low (spread +0.017% now, against its 7-day average of −0.043%): +$6 on $10k if it goes back. Holding the pair costs −$6 a day in funding at the current rate, which eats that in about 22 hours. At the pace of the last 3 days (−0.452% in total) that is about 10 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aftermath Perps BTCUSD	86,314.8	0.0168	pay 0.0021% / 1h	14m 50s	$77K	$217K	20x
Short	Bluefin BTC-PERP	86,329.8	−0.0049	pay 0.0006% / 1h	14m 50s	$144K	$667K	40x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bluefin against Aftermath Perps. 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 Aftermath PerpsbpFee BluefinbpOrdersPrice spread, now +0.017%Rate

Funding earned: −$45.45
Price spread: +0.017% → −0.043%: $6.02
Slippage, 4 orders: −$15.04
Fee Aftermath Perps: 4.5 bp × 2 orders: −$9
Fee Bluefin: 3.5 bp × 2 orders: −$7
Net: −$70.48
Costs to cover: 0.310%
Break-even: never at this rate

Slippage from Aftermath Perps: live order book, 59 min ago; Bluefin: live order book, 59 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 Aftermath Perps live order book, 59 min ago	1.00 bp	10.0 bp −$10	14.8 bp −$148	doesn't fit	doesn't fit
Sell Bluefin live order book, 59 min ago	1.72 bp	5.7 bp −$6	10.5 bp −$105	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	−0.0129%	1h	86,239	−0.088%	$2.2M	$11.2M	40x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	86,299	−0.018%	$9K	$3K	50x	as long as short
Bluefin BTC-PERPshort	−0.0049%	1h	86,329.8	+0.017%	$144K	$667K	40x
01 Exchange BTCUSD	−0.0040%	1h	86,286.3	−0.033%	$363K	$2.3M	50x	as long as short
Perpl BTC	0.0000%	43m	86,286.3	−0.033%	$538K	$21.3M	6.7x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0004% / S −0.0004%	1h	86,307.7	−0.008%	$36.9M	—	200x	as long as short
dYdX BTC-USD	+0.0023%	1h	86,288.1	−0.031%	$16.9M	$20.5M	50x	as long as short
Injective BTC/USDC PERP	+0.0023%	1h	86,358	+0.050%	$343K	$26.9M	52x	as long as short
Aster BTCUSDT	+0.0031%	8h	86,309.4	−0.006%	$500.5M	$1.13B	200x	as long as short
KuCoin XBTUSDTM	+0.0043%	8h	86,308.8	−0.007%	$831.6M	$718.4M	125x	as long as short

Show all 56 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Reya BTCRUSDPERP	+0.0048%	1h	86,289	−0.030%	$6.7M	$145.8M	40x	as long as short
BingX BTC-USDT	+0.0051%	8h	86,318.8	+0.005%	—	$1.58B	—	as long as short
RISEx BTC/USDC	+0.0052%	1h	86,287.3	−0.032%	$8.3M	$42.4M	25x	as long as short
Bitget BTCUSDT	+0.0065%	8h	86,313.5	−0.002%	$2.98B	$5.05B	150x	as long as short
SoDEX BTC-USD	+0.0078%	1h	86,305	−0.011%	$60.4M	$338.2M	40x	as long as short
Aevo BTC-PERP	+0.0080%	1h	86,292.5	−0.026%	$2.5M	$1.8M	20x	as long as short
MEXC BTC_USDT	+0.0083%	8h	86,310.3	−0.005%	$5.09B	$5.74B	500x	as long as short
Binance BTCUSDT	+0.0084%	8h	86,313.9	−0.001%	$9.41B	$24.32B	150x	as long as short
Lighter BTC	+0.0096%	1h	86,337.7	+0.026%	$170.4M	$990.9M	50x	as long as short
Lighter RH BTC	+0.0096%	1h	86,341.8	+0.031%	$23.7M	$151.9M	50x	as long as short
Popdex BTCUSDT	+0.0096%	1h	86,283	−0.037%	$8.4M	$52.1M	100x	as long as short
Gate BTC_USDT	+0.0099%	8h	86,315.9	+0.001%	$5.77B	$10.61B	200x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	86,259	−0.065%	$196K	$7.3M	50x	as long as short
Paradex BTC-USD-PERP	+0.0100%	8h	86,308.5	−0.007%	$4.2M	$8.6M	50x	as long as short
Nado BTC-PERP	+0.0100%	1h	86,275.1	−0.046%	$22.0M	$227.0M	50x	as long as short
Hyperliquid BTC	+0.0100%	1h	86,387	+0.084%	$3.78B	$4.99B	40x	as long as short
Pacifica BTC	+0.0100%	1h	86,315.1	0.000%	$40.6M	$558.6M	50x	as long as short
Bybit BTCUSDT	+0.0100%	8h	86,320	+0.006%	$5.26B	$9.64B	150x	as long as short
OKX BTC-USDT-SWAP	+0.0100%	8h	86,326.4	+0.013%	$2.57B	$12.46B	100x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	86,280	−0.040%	$3.9M	$17.8M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	86,304.8	−0.012%	$7.2M	$95.0M	40x	as long as short
Bulk BTC-USD	+0.0100%	1h	86,145.7	−0.196%	$580.3M	$59.0M	40x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	86,292.9	−0.025%	$35.7M	$160.5M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	86,226.1	−0.103%	$156.7M	$559.2M	—	as long as short
edgeX BTCUSDC	+0.0100%	4h	86,200.2	−0.133%	$278.4M	$953.3M	100x	as long as short
GRVT BTC_USDT_Perp	+0.0100%	8h	86,212.1	−0.119%	$216.4M	$165.7M	50x	as long as short
ApeX Omni BTCUSDT	+0.0100%	1h	86,240.1	−0.087%	$141.3M	$320.8M	100x	as long as short
StandX BTC-USD	+0.0100%	1h	86,233.9	−0.094%	$30.6M	$208.7M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	86,318.1	+0.004%	—	$11.8M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	86,288	−0.031%	$11.1M	$14.1M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	86,295.1	−0.023%	$191K	$3.3M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	86,294.9	−0.023%	$2.4M	$9.1M	100x	as long as short
Derive BTC-PERP	+0.0100%	1h	86,318.4	+0.004%	$30.3M	$56.9M	15x	as long as short
SunX BTC-USDT	+0.0100%	8h	86,257.2	−0.067%	$3.3M	$5.4M	100x	as long as short
HTX BTC-USDT	+0.0100%	8h	86,274.7	−0.047%	$2.29B	$959.1M	200x	as long as short
Phemex BTCUSDT	+0.0100%	8h	86,305.1	−0.011%	$155.2M	$473.1M	150x	as long as short
Extended BTC-USD	+0.0104%	1h	86,294.9	−0.023%	$46.0M	$222.5M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0048%	1h	86,278.2	−0.042%	—	$99.1M	500x	as long as short
Coinbase International BTC-PERP-INTX	+0.0120%	1h	86,345.8	+0.036%	$132.3M	$5.32B	50x	as long as short
Kraken Futures PF_XBTUSD	+0.0121%	1h	86,337.2	+0.026%	$191.4M	$947.1M	100x	as long as short
Hibachi BTC/USDT-P	+0.0160%	1h	86,254.4	−0.070%	$712K	$7.9M	30x	as long as short
Aftermath Perps BTCUSDlong	+0.0168%	1h	86,314.8	long leg	$77K	$217K	20x
Kalshi KXBTCPERP	+0.0204%	8h	86,310	−0.006%	$10.6M	$765.8M	6.4x	as long as short
BloFin BTC-USDT	+0.0204%	8h	86,297	−0.021%	$416.1M	$641.9M	150x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0207% / S −0.0222%	1h	86,303.2	−0.013%	$14.5M	—	200x	as long as short
Deribit BTC-PERPETUAL	+0.0226%	1h	86,352.3	+0.043%	$902.2M	$1.51B	50x	as long as short