Settings8H · net · $10k
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Funding arb · Price arb /

BTC

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Alert: funding
Measured
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Alert: spread
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Funding you earn now, next payment 23:00 UTC−0.0051%/8h= −5.6% APRpaid last 24h −0.009%
Price spread now: Bitget against Backpack+0.025%7-day average +0.014% · you sell dearer than you buy
Net, funding: paid 7d − costs−$12as in the Funding arb table
Net, price: spread back to 7d avg − costs−$21as in the Price arb table
costs, in and out, $10k−$220.220% of the position
Long on BackpackShort on Bitget
What this pair did over the last
the charts below follow
Funding, last 7 days+0.098%+$10 on $10k
Price spread, last 7 days+0.477%+$48 · spread now +0.025%, 7d avg +0.014%
Together, before fees+0.576%+$58 on $10k · with fees, hour by hour
The price spread sits at its 7-day average of +0.014%, so right now this pair is about funding alone: −$2 a day on $10k at the current rate. Mind the row above: over the last 7 days funding on this pair paid +0.098%, so the current rate has only just turned against you.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongBackpack BTC_USDC_PERP86,341.70.0100pay 0.0013% / 1h2m 51s$37.8M$154.7M75x
ShortBitget BTCUSDT86,363.30.0049get 0.0049% / 8h1h 02m$2.95B$5.11B150x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Bitget against Backpack. 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

Funding earned
−$10.71
Price spread: +0.025% → +0.014%
$1.14
Slippage, 4 orders
−$0.02
Fee Backpack: 5 bp × 2 orders
−$10
Fee Bitget: 6 bp × 2 orders
−$12
Net
−$31.59
Costs to cover
0.220%
Break-even
never at this rate
Slippage from Backpack: live order book, 1 min ago; Bitget: live order book, 1 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy Backpack live order book, 1 min ago0.01 bp5.0 bp −$55.0 bp −$506.6 bp −$662doesn't fit
Sell Bitget live order book, 1 min ago0.01 bp6.0 bp −$66.0 bp −$606.1 bp −$614doesn't fit

BTC on 56 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Bluefin BTC-PERP−0.0456%1h86,374.9+0.038%$140K$663K40xas long as short
Phoenix BTC−0.0159%1h86,366+0.028%$2.2M$11.8M40xas long as short
Hotstuff BTC-PERP−0.0080%1h86,355+0.015%$9K$3K50xas long as short
01 Exchange BTCUSD−0.0016%1h86,387.5+0.053%$357K$2.5M50xas long as short
Aster BTCUSDT−0.0010%8h86,353.3+0.013%$503.0M$1.15B200xas long as short
gTrade (Gains Network) BTC/USDL +0.0005% / S −0.0004%1h86,364+0.026%$36.8M—200xas long as short
KuCoin XBTUSDTM+0.0005%8h86,343.2+0.002%$848.9M$713.4M125xas long as short
RISEx BTC/USDC+0.0006%1h86,378.8+0.043%$8.4M$42.8M25xas long as short
dYdX BTC-USD+0.0009%1h86,352+0.012%$16.9M$21.1M50xas long as short
Reya BTCRUSDPERP+0.0023%1h86,333.9−0.009%$6.7M$145.1M40xas long as short
Show all 56 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Injective BTC/USDC PERP+0.0024%1h86,403+0.071%$332K$26.8M52xas long as short
BingX BTC-USDT+0.0038%8h86,363.3+0.025%—$1.59B—as long as short
Phemex BTCUSDT+0.0044%8h86,351.1+0.011%$149.8M$477.5M150xas long as short
Bitget BTCUSDTshort+0.0049%8h86,363.3+0.025%$2.95B$5.11B150x
Aevo BTC-PERP+0.0064%1h86,338.3−0.004%$2.4M$1.3M20xas long as short
MEXC BTC_USDT+0.0065%8h86,363.8+0.026%$5.12B$5.72B500xas long as short
Binance BTCUSDT+0.0066%8h86,363.9+0.026%$9.41B$24.49B150xas long as short
Aftermath Perps BTCUSD+0.0068%1h86,388.2+0.054%$80K$219K20xas long as short
Deribit BTC-PERPETUAL+0.0071%1h86,382.2+0.047%$916.6M$1.49B50xas long as short
Gate BTC_USDT+0.0081%8h86,356.9+0.018%$5.84B$10.79B200xas long as short
Lighter BTC+0.0096%1h86,371.3+0.034%$170.2M$1.02B50xas long as short
Lighter RH BTC+0.0096%1h86,386+0.051%$24.0M$153.0M50xas long as short
Popdex BTCUSDT+0.0096%1h86,372+0.035%$8.4M$52.4M100xas long as short
Bybit BTCUSDT+0.0097%8h86,360.9+0.022%$5.25B$9.80B150xas long as short
Katana Perps BTC-USD+0.0100%8h86,353+0.013%$205K$6.9M50xas long as short
Paradex BTC-USD-PERP+0.0100%8h86,415.5+0.085%$4.8M$8.5M50xas long as short
Nado BTC-PERP+0.0100%1h86,375.8+0.039%$21.8M$234.5M50xas long as short
Hyperliquid BTC+0.0100%1h86,425+0.096%$3.79B$5.10B40xas long as short
Pacifica BTC+0.0100%1h86,405.4+0.074%$40.8M$517.9M50xas long as short
OKX BTC-USDT-SWAP+0.0100%8h86,368.7+0.031%$2.54B$12.69B100xas long as short
Ondo Perps BTC-USD.P+0.0100%1h86,385+0.050%$3.9M$18.6M25xas long as short
Arcus BTC-USD+0.0100%1h86,423.9+0.095%$7.7M$94.5M40xas long as short
Bulk BTC-USD+0.0100%1h86,320.9−0.024%$570.7M$18.4M40xas long as short
Backpack BTC_USDC_PERPlong+0.0100%1h86,341.7long leg$37.8M$154.7M75x
Variational Omni BTC+0.0100%8h86,349.5+0.009%$155.5M$568.5M—as long as short
edgeX BTCUSDC+0.0100%4h86,320.5−0.025%$279.0M$945.5M100xas long as short
GRVT BTC_USDT_Perp+0.0100%8h86,351.2+0.011%$216.7M$173.7M50xas long as short
ApeX Omni BTCUSDT+0.0100%1h86,285.8−0.065%$141.1M$323.8M100xas long as short
StandX BTC-USD+0.0100%1h86,345.7+0.005%$30.6M$204.2M40xas long as short
Vest BTC-PERP+0.0100%1h86,403.7+0.072%—$11.7M50xas long as short
Polymarket Perps BTC-USD+0.0100%1h86,345+0.004%$11.1M$13.8M50xas long as short
Bullet BTC-USD+0.0100%1h86,349.2+0.009%$191K$3.3M20xas long as short
Orderly PERP_BTC_USDC+0.0100%8h86,353.4+0.014%$2.4M$8.7M100xas long as short
Derive BTC-PERP+0.0100%1h86,375.9+0.040%$30.5M$62.2M15xas long as short
SunX BTC-USDT+0.0100%8h86,337.4−0.005%$3.4M$5.4M100xas long as short
SoDEX BTC-USD+0.0100%1h86,344+0.003%$60.4M$337.4M40xas long as short
HTX BTC-USDT+0.0100%8h86,354.7+0.015%$2.29B$968.7M200xas long as short
Extended BTC-USD+0.0104%1h86,348.5+0.008%$45.5M$226.5M50xas long as short
Jupiter Perps WBTC-PERPL +0.0104% / S +0.0048%1h86,377.3+0.041%—$98.9M500xas long as short
Perpl BTC+0.0112%43m86,374.9+0.038%$418K$23.5M6.7xas long as short
Coinbase International BTC-PERP-INTX+0.0112%1h86,385.9+0.051%$131.9M$5.67B50xas long as short
Kraken Futures PF_XBTUSD+0.0121%1h86,366.9+0.029%$191.6M$946.7M100xas long as short
Hibachi BTC/USDT-P+0.0144%1h86,384.8+0.050%$718K$8.1M30xas long as short
BloFin BTC-USDT+0.0186%8h86,343.9+0.003%$414.3M$654.0M150xas long as short
GMX BTC/USD [WBTC.b-USDC]L +0.0188% / S −0.0211%1h86,356.9+0.018%$15.1M—200xas long as short
Kalshi KXBTCPERP+0.0199%8h86,388+0.054%$9.7M$736.4M6.4xas long as short