Funding you earn now, next payment 23:00 UTC−0.0111%/8h= −12.1% APRnext payment −$0.14 per $10,000 · paid last 24h −0.023%
Price spread now: dYdX against Arcus−0.059%7-day average −0.036% · you buy dearer than you sell
Net, funding: paid 7d − costs—under 7 days of funding history
Net, price: spread back to 7d avg − costs−$22as in the Price arb table
costs, in and out, $10k−$190.194% of the position
Funding, last 3 days (all we have)−0.090%−$9 on $10k
+Price spread, last 7 days+0.064%+$6 · spread now −0.059%, 7d avg −0.036%
=Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and dYdX is 0.023% cheaper against Arcus than usual: you would sell low and buy high (−$2 if the spread goes back to its 7-day average of −0.036%). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Arcus BTC-USD | 86,678.3 | 0.0100 | pay 0.0013% / 1h | 37m 26s | $7.4M | $93.8M | 40x |
| Short | dYdX BTC-USD | 86,627.2 | −0.0011 | pay 0.0001% / 1h | 37m 26s | $17.5M | $20.3M | 50x |
Arcus BTC-USD
dYdX BTC-USDFunding history
latest
Range statsloading…
Price spread between the two exchanges
dYdX against Arcus. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$23.25
- Price spread: −0.059% → −0.036%
- −$2.33
- Slippage, 4 orders
- −$4.93
- Fee Arcus: 2.25 bp × 2 orders
- −$4.5
- Fee dYdX: 5 bp × 2 orders
- −$10
- Net
- −$45.01
- Costs to cover
- 0.194%
- Break-even
- never at this rate
Slippage from Arcus: live order book, 2 min ago; dYdX: live order book, 2 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 Arcus live order book, 2 min ago | 0.01 bp | 2.7 bp −$3 | 3.4 bp −$34 | 5.3 bp −$532 | doesn't fit |
| Sell dYdX live order book, 2 min ago | 0.12 bp | 8.2 bp −$8 | 11.0 bp −$110 | 17.9 bp −$1,795 | 54.8 bp −$27.4K |
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 | |
|---|---|---|---|---|---|---|---|---|
| Bluefin BTC-PERP | −0.0809% | 1h | 86,685.1 | +0.008% | $141K | $618K | 40x | as long as short |
| Aftermath Perps BTCUSD | −0.0161% | 1h | 86,650.9 | −0.032% | $83K | $206K | 20x | as long as short |
| Phoenix BTC | −0.0159% | 1h | 86,627 | −0.059% | $2.2M | $11.8M | 40x | as long as short |
| Hotstuff BTC-PERP | −0.0080% | 1h | 86,606 | −0.083% | $9K | $3K | 50x | as long as short |
| dYdX BTC-USDshort | −0.0011% | 1h | 86,627.2 | −0.059% | $17.5M | $20.3M | 50x | |
| 01 Exchange BTCUSD | −0.0008% | 1h | 86,603.6 | −0.086% | $359K | $2.4M | 50x | as long as short |
| Aster BTCUSDT | −0.0007% | 8h | 86,597.7 | −0.093% | $505.3M | $1.15B | 200x | as long as short |
| Perpl BTC | 0.0000% | 43m | 86,598.6 | −0.092% | $419K | $23.9M | 6.7x | as long as short |
| KuCoin XBTUSDTM | +0.0001% | 8h | 86,590 | −0.102% | $852.4M | $707.5M | 125x | as long as short |
| gTrade (Gains Network) BTC/USD | L +0.0005% / S −0.0004% | 1h | 86,682.4 | +0.005% | $36.9M | — | 200x | as long as short |
Bluefin BTC-PERP
Aftermath Perps BTCUSD
Phoenix BTC
Hotstuff BTC-PERP
01 Exchange BTCUSD
Aster BTCUSDT
Perpl BTC
KuCoin XBTUSDTM
gTrade (Gains Network) BTC/USDShow all 56 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| RISEx BTC/USDC | +0.0006% | 1h | 86,601.5 | −0.089% | $8.6M | $43.2M | 25x | as long as short |
| Reya BTCRUSDPERP | +0.0022% | 1h | 86,573.6 | −0.121% | $6.7M | $144.8M | 40x | as long as short |
| Injective BTC/USDC PERP | +0.0024% | 1h | 86,559 | −0.138% | $315K | $26.8M | 52x | as long as short |
| Phemex BTCUSDT | +0.0026% | 8h | 86,646.7 | −0.036% | $150.3M | $473.6M | 150x | as long as short |
| Deribit BTC-PERPETUAL | +0.0030% | 1h | 86,675.4 | −0.003% | $925.3M | $1.47B | 50x | as long as short |
| BingX BTC-USDC | +0.0032% | 8h | 86,584.2 | −0.109% | — | $15.3M | — | as long as short |
| Hibachi BTC/USDT-P | +0.0040% | 1h | 86,683.5 | +0.006% | $731K | $8.2M | 30x | as long as short |
| Bitget BTCUSDT | +0.0042% | 8h | 86,585.1 | −0.108% | $2.96B | $5.07B | 150x | as long as short |
| MEXC BTC_USDT | +0.0061% | 8h | 86,601.1 | −0.089% | $5.19B | $5.64B | 500x | as long as short |
| Binance BTCUSDT | +0.0062% | 8h | 86,586.6 | −0.106% | $9.42B | $24.31B | 150x | as long as short |
| Aevo BTC-PERP | +0.0064% | 1h | 86,631.1 | −0.054% | $2.4M | $1.3M | 20x | as long as short |
| Gate BTC_USDT | +0.0076% | 8h | 86,592.4 | −0.099% | $5.86B | $10.65B | 200x | as long as short |
| Bybit BTCUSDT | +0.0090% | 8h | 86,586.3 | −0.106% | $5.27B | $9.70B | 150x | as long as short |
| Lighter BTC | +0.0096% | 1h | 86,614.1 | −0.074% | $171.9M | $1.00B | 50x | as long as short |
| Lighter RH BTC | +0.0096% | 1h | 86,618.7 | −0.069% | $24.1M | $151.8M | 50x | as long as short |
| Popdex BTCUSDT | +0.0096% | 1h | 86,587 | −0.105% | $8.5M | $52.2M | 100x | as long as short |
| Katana Perps BTC-USD | +0.0100% | 8h | 86,585 | −0.108% | $204K | $6.9M | 50x | as long as short |
| Paradex BTC-USD-PERP | +0.0100% | 8h | 86,631.6 | −0.054% | $4.8M | $8.4M | 50x | as long as short |
| Nado BTC-PERP | +0.0100% | 1h | 86,602.6 | −0.087% | $21.8M | $233.4M | 50x | as long as short |
| Hyperliquid BTC | +0.0100% | 1h | 86,662 | −0.019% | $3.81B | $5.08B | 40x | as long as short |
| Pacifica BTC | +0.0100% | 1h | 86,643.6 | −0.040% | $41.1M | $505.2M | 50x | as long as short |
| OKX BTC-USDT-SWAP | +0.0100% | 8h | 86,584.5 | −0.108% | $2.55B | $12.69B | 100x | as long as short |
| Ondo Perps BTC-USD.P | +0.0100% | 1h | 86,606 | −0.083% | $3.9M | $18.6M | 25x | as long as short |
| Arcus BTC-USDlong | +0.0100% | 1h | 86,678.3 | long leg | $7.4M | $93.8M | 40x | |
| Bulk BTC-USD | +0.0100% | 1h | 86,703.1 | +0.029% | $573.0M | $18.8M | 40x | as long as short |
| Backpack BTC_USDC_PERP | +0.0100% | 1h | 86,626 | −0.060% | $38.5M | $153.2M | 75x | as long as short |
| Variational Omni BTC | +0.0100% | 8h | 86,696.3 | +0.021% | $156.8M | $565.9M | — | as long as short |
| edgeX BTCUSDC | +0.0100% | 4h | 86,636.2 | −0.049% | $280.0M | $943.9M | 100x | as long as short |
| GRVT BTC_USDT_Perp | +0.0100% | 8h | 86,641.8 | −0.042% | $217.4M | $174.1M | 50x | as long as short |
| ApeX Omni BTCUSDT | +0.0100% | 1h | 86,642.9 | −0.041% | $141.6M | $323.1M | 100x | as long as short |
| StandX BTC-USD | +0.0100% | 1h | 86,666 | −0.014% | $30.7M | $203.4M | 40x | as long as short |
| Vest BTC-PERP | +0.0100% | 1h | 86,649.2 | −0.034% | — | $11.6M | 50x | as long as short |
| Polymarket Perps BTC-USD | +0.0100% | 1h | 86,587 | −0.105% | $11.1M | $13.6M | 50x | as long as short |
| Bullet BTC-USD | +0.0100% | 1h | 86,586 | −0.106% | $194K | $3.3M | 20x | as long as short |
| Orderly PERP_BTC_USDC | +0.0100% | 8h | 86,664.9 | −0.015% | $2.4M | $8.6M | 100x | as long as short |
| Derive BTC-PERP | +0.0100% | 1h | 86,636.5 | −0.048% | $30.0M | $61.6M | 15x | as long as short |
| SunX BTC-USDT | +0.0100% | 8h | 86,628.3 | −0.058% | $3.4M | $5.4M | 100x | as long as short |
| SoDEX BTC-USD | +0.0100% | 1h | 86,636 | −0.049% | $60.5M | $337.0M | 40x | as long as short |
| HTX BTC-USDT | +0.0100% | 8h | 86,654.4 | −0.028% | $2.30B | $964.1M | 200x | as long as short |
| Extended BTC-USD | +0.0104% | 1h | 86,585.5 | −0.107% | $46.3M | $225.3M | 50x | as long as short |
| Jupiter Perps WBTC-PERP | L +0.0104% / S +0.0048% | 1h | 86,662.4 | −0.018% | — | $98.2M | 500x | as long as short |
| Coinbase International BTC-PERP-INTX | +0.0112% | 1h | 86,680.7 | +0.003% | $131.8M | $5.72B | 50x | as long as short |
| Kraken Futures PF_XBTUSD | +0.0121% | 1h | 86,671.8 | −0.007% | $191.8M | $937.0M | 100x | as long as short |
| GMX BTC/USD [WBTC.b-USDC] | L +0.0180% / S −0.0208% | 1h | 86,678.6 | 0.000% | $15.1M | — | 200x | as long as short |
| BloFin BTC-USDT | +0.0181% | 8h | 86,634.4 | −0.051% | $415.3M | $652.1M | 150x | as long as short |
| Kalshi KXBTCPERP | +0.0194% | 8h | 86,663 | −0.018% | $9.7M | $727.7M | 6.4x | as long as short |
RISEx BTC/USDC
Reya BTCRUSDPERP
Injective BTC/USDC PERP
Phemex BTCUSDT
Deribit BTC-PERPETUAL
BingX BTC-USDC
Hibachi BTC/USDT-P
Bitget BTCUSDT
MEXC BTC_USDT
Binance BTCUSDT
Aevo BTC-PERP
Gate BTC_USDT
Bybit BTCUSDT
Lighter BTC
Lighter RH BTC
Popdex BTCUSDT
Katana Perps BTC-USD
Paradex BTC-USD-PERP
Nado BTC-PERP
Hyperliquid BTC
Pacifica BTC
OKX BTC-USDT-SWAP
Ondo Perps BTC-USD.P
Bulk BTC-USD
Backpack BTC_USDC_PERP
Variational Omni BTC
edgeX BTCUSDC
GRVT BTC_USDT_Perp
ApeX Omni BTCUSDT
StandX BTC-USD
Vest BTC-PERP
Polymarket Perps BTC-USD
Bullet BTC-USD
Orderly PERP_BTC_USDC
Derive BTC-PERP
SunX BTC-USDT
SoDEX BTC-USD
HTX BTC-USDT
Extended BTC-USD
Jupiter Perps WBTC-PERP
Coinbase International BTC-PERP-INTX
Kraken Futures PF_XBTUSD
GMX BTC/USD [WBTC.b-USDC]
BloFin BTC-USDT
Kalshi KXBTCPERP