Funding you earn now, next payment 23:00 UTC+0.0080%/8h= +8.7% APRpaid last 24h −0.025%
Price spread now: BloFin against Backpack−0.005%7-day average +0.028% · you buy dearer than you sell
Net, funding: paid 7d − costs−$10as in the Funding arb table
Net, price: spread back to 7d avg − costs−$25as in the Price arb table
costs, in and out, $10k−$220.220% of the position
Funding, last 7 days+0.117%+$12 on $10k
+Price spread, last 3 days (all we have)−0.007%−$1 · spread now −0.005%, 7d avg +0.028%
=Funding pays, the price is against you. BloFin is 0.033% cheaper against Backpack than usual: you would sell low and buy high (spread −0.005% now, against its 7-day average of +0.028%). If the spread goes back, that is −$3 on $10k: about 33 hours of funding at the current rate (+$2 a day).
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Backpack BTC_USDC_PERP | 86,646.8 | 0.0100 | pay 0.0013% / 1h | 54m 23s | $38.3M | $152.9M | 75x |
| Short | BloFin BTC-USDT | 86,642.7 | 0.0180 | get 0.0180% / 8h | 1h 54m | $417.2M | $655.6M | 150x |
Backpack BTC_USDC_PERP
BloFin BTC-USDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
BloFin against Backpack. 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
- $16.74
- Price spread: −0.005% → +0.028%
- −$3.26
- Slippage, 4 orders
- −$0.02
- Fee Backpack: 5 bp × 2 orders
- −$10
- Fee BloFin: 6 bp × 2 orders
- −$12
- Net
- −$8.54
- Costs to cover
- 0.220%
- Break-even
- 10.6 days
Slippage from Backpack: live order book, 5 min ago; BloFin: live order book, 5 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 Backpack live order book, 5 min ago | 0.01 bp | 5.0 bp −$5 | 5.0 bp −$50 | 5.8 bp −$584 | 260.5 bp −$130.2K |
| Sell BloFin live order book, 5 min ago | 0.01 bp | 6.0 bp −$6 | 6.0 bp −$60 | 6.0 bp −$605 | 6.5 bp −$3,226 |
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 | |
|---|---|---|---|---|---|---|---|---|
| Aftermath Perps BTCUSD | −0.0217% | 1h | 86,636.4 | −0.012% | $79K | $197K | 20x | as long as short |
| Phoenix BTC | −0.0103% | 1h | 86,639 | −0.009% | $2.2M | $11.8M | 40x | as long as short |
| Hotstuff BTC-PERP | −0.0080% | 1h | 86,653 | +0.007% | $9K | $3K | 50x | as long as short |
| dYdX BTC-USD | −0.0032% | 1h | 86,684.5 | +0.043% | $17.6M | $20.6M | 50x | as long as short |
| 01 Exchange BTCUSD | −0.0008% | 1h | 86,664.1 | +0.020% | $359K | $2.4M | 50x | as long as short |
| Aster BTCUSDT | −0.0004% | 8h | 86,627 | −0.023% | $505.8M | $1.16B | 200x | as long as short |
| Perpl BTC | 0.0000% | 43m | 86,636.9 | −0.011% | $421K | $24.2M | 6.7x | as long as short |
| Deribit BTC-PERPETUAL | 0.0000% | 1h | 86,668.5 | +0.025% | $926.2M | $1.47B | 50x | as long as short |
| KuCoin XBTUSDTM | +0.0004% | 8h | 86,629.6 | −0.020% | $851.8M | $709.6M | 125x | as long as short |
| gTrade (Gains Network) BTC/USD | L +0.0005% / S −0.0004% | 1h | 86,626.6 | −0.023% | $36.8M | — | 200x | as long as short |
Aftermath Perps BTCUSD
Phoenix BTC
Hotstuff BTC-PERP
dYdX BTC-USD
01 Exchange BTCUSD
Aster BTCUSDT
Perpl BTC
Deribit BTC-PERPETUAL
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 | 86,658.9 | +0.014% | $8.5M | $43.3M | 25x | as long as short |
| Hibachi BTC/USDT-P | +0.0008% | 1h | 86,685.8 | +0.045% | $727K | $8.1M | 30x | as long as short |
| Reya BTCRUSDPERP | +0.0022% | 1h | 86,610.2 | −0.042% | $6.7M | $144.6M | 40x | as long as short |
| Injective BTC/USDC PERP | +0.0024% | 1h | 86,587 | −0.069% | $315K | $26.8M | 52x | as long as short |
| Phemex BTCUSDT | +0.0030% | 8h | 86,642.6 | −0.005% | $149.8M | $473.0M | 150x | as long as short |
| BingX BTC-USDT | +0.0030% | 8h | 86,601.5 | −0.052% | — | $1.59B | — | as long as short |
| Bitget BTCUSDT | +0.0038% | 8h | 86,620.9 | −0.030% | $2.95B | $5.09B | 150x | as long as short |
| Aevo BTC-PERP | +0.0056% | 1h | 86,646.5 | 0.000% | $2.4M | $1.3M | 20x | as long as short |
| MEXC BTC_USDT | +0.0059% | 8h | 86,620.1 | −0.031% | $5.19B | $5.61B | 500x | as long as short |
| Binance BTCUSDT | +0.0060% | 8h | 86,608.4 | −0.044% | $9.43B | $24.39B | 150x | as long as short |
| Gate BTC_USDT | +0.0083% | 8h | 86,602.5 | −0.051% | $5.85B | $10.61B | 200x | as long as short |
| Bybit BTCUSDT | +0.0087% | 8h | 86,605.6 | −0.048% | $5.27B | $9.74B | 150x | as long as short |
| SoDEX BTC-USD | +0.0088% | 1h | 86,640 | −0.008% | $60.5M | $336.7M | 40x | as long as short |
| Nado BTC-PERP | +0.0096% | 1h | 86,662.7 | +0.018% | $21.6M | $234.4M | 50x | as long as short |
| Lighter BTC | +0.0096% | 1h | 86,674.3 | +0.032% | $172.2M | $996.8M | 50x | as long as short |
| Lighter RH BTC | +0.0096% | 1h | 86,683.9 | +0.043% | $24.1M | $151.5M | 50x | as long as short |
| Popdex BTCUSDT | +0.0096% | 1h | 86,644 | −0.003% | $8.5M | $52.3M | 100x | as long as short |
| Katana Perps BTC-USD | +0.0100% | 8h | 86,643 | −0.004% | $201K | $6.9M | 50x | as long as short |
| Paradex BTC-USD-PERP | +0.0100% | 8h | 86,698.1 | +0.059% | $4.8M | $8.3M | 50x | as long as short |
| Hyperliquid BTC | +0.0100% | 1h | 86,701 | +0.063% | $3.81B | $5.08B | 40x | as long as short |
| Pacifica BTC | +0.0100% | 1h | 86,697.7 | +0.059% | $41.1M | $499.4M | 50x | as long as short |
| OKX BTC-USDT-SWAP | +0.0100% | 8h | 86,605.5 | −0.048% | $2.55B | $12.73B | 100x | as long as short |
| Ondo Perps BTC-USD.P | +0.0100% | 1h | 86,643 | −0.004% | $3.9M | $18.6M | 25x | as long as short |
| Arcus BTC-USD | +0.0100% | 1h | 86,724.9 | +0.090% | $7.4M | $94.0M | 40x | as long as short |
| Bulk BTC-USD | +0.0100% | 1h | 86,590.2 | −0.065% | $572.1M | $20.3M | 40x | as long as short |
| Backpack BTC_USDC_PERPlong | +0.0100% | 1h | 86,646.8 | long leg | $38.3M | $152.9M | 75x | |
| Variational Omni BTC | +0.0100% | 8h | 86,582.6 | −0.074% | $156.4M | $568.8M | — | as long as short |
| edgeX BTCUSDC | +0.0100% | 4h | 86,554.6 | −0.106% | $279.5M | $940.9M | 100x | as long as short |
| GRVT BTC_USDT_Perp | +0.0100% | 8h | 86,561 | −0.099% | $217.2M | $183.6M | 50x | as long as short |
| ApeX Omni BTCUSDT | +0.0100% | 1h | 86,556.4 | −0.104% | $141.5M | $322.9M | 100x | as long as short |
| StandX BTC-USD | +0.0100% | 1h | 86,647.8 | +0.001% | $30.7M | $203.0M | 40x | as long as short |
| Vest BTC-PERP | +0.0100% | 1h | 86,680.9 | +0.039% | — | $11.6M | 50x | as long as short |
| Polymarket Perps BTC-USD | +0.0100% | 1h | 86,632 | −0.017% | $11.1M | $13.8M | 50x | as long as short |
| Bullet BTC-USD | +0.0100% | 1h | 86,607.9 | −0.045% | $193K | $3.4M | 20x | as long as short |
| Orderly PERP_BTC_USDC | +0.0100% | 8h | 86,614.1 | −0.038% | $2.5M | $8.6M | 100x | as long as short |
| Bluefin BTC-PERP | +0.0100% | 1h | 86,665.4 | +0.021% | $141K | $618K | 40x | as long as short |
| Derive BTC-PERP | +0.0100% | 1h | 86,638.5 | −0.010% | $30.0M | $61.6M | 15x | as long as short |
| SunX BTC-USDT | +0.0100% | 8h | 86,624.2 | −0.026% | $3.4M | $5.5M | 100x | as long as short |
| HTX BTC-USDT | +0.0100% | 8h | 86,645.2 | −0.002% | $2.30B | $960.5M | 200x | as long as short |
| Extended BTC-USD | +0.0104% | 1h | 86,643.2 | −0.004% | $46.4M | $226.5M | 50x | as long as short |
| Jupiter Perps WBTC-PERP | L +0.0104% / S +0.0048% | 1h | 86,674.6 | +0.032% | — | $98.9M | 500x | as long as short |
| Coinbase International BTC-PERP-INTX | +0.0112% | 1h | 86,677.8 | +0.036% | $131.8M | $5.81B | 50x | as long as short |
| Kraken Futures PF_XBTUSD | +0.0121% | 1h | 86,676.4 | +0.034% | $191.5M | $937.5M | 100x | as long as short |
| BloFin BTC-USDTshort | +0.0180% | 8h | 86,642.7 | −0.005% | $417.2M | $655.6M | 150x | |
| GMX BTC/USD [WBTC.b-USDC] | L +0.0180% / S −0.0210% | 1h | 86,619.9 | −0.031% | $15.0M | — | 200x | as long as short |
| Kalshi KXBTCPERP | +0.0183% | 8h | 86,663 | +0.019% | $9.7M | $726.6M | 6.4x | as long as short |
RISEx BTC/USDC
Hibachi BTC/USDT-P
Reya BTCRUSDPERP
Injective BTC/USDC PERP
Phemex BTCUSDT
BingX BTC-USDT
Bitget BTCUSDT
Aevo BTC-PERP
MEXC BTC_USDT
Binance BTCUSDT
Gate BTC_USDT
Bybit BTCUSDT
SoDEX BTC-USD
Nado BTC-PERP
Lighter BTC
Lighter RH BTC
Popdex BTCUSDT
Katana Perps BTC-USD
Paradex BTC-USD-PERP
Hyperliquid BTC
Pacifica BTC
OKX BTC-USDT-SWAP
Ondo Perps BTC-USD.P
Arcus BTC-USD
Bulk BTC-USD
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
Bluefin BTC-PERP
Derive BTC-PERP
SunX BTC-USDT
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]
Kalshi KXBTCPERP