BTC

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0007%/8h= +0.8% APRpaid last 24h +0.017%

Price spread now: Coinbase International against Binance+0.066%53s7-day average +0.044% · you sell dearer than you buy

Net, funding: paid 7d − costs−$19as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$200.200% of the position

Long on Binance Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+0.009%+$1 on $10k

Price spread, last 4 days (all we have)−0.061%−$6 · spread now +0.066%, 7d avg +0.044%

Together, before fees−0.052%−$5 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Coinbase International is 0.021% dearer against Binance than usual: you sell high and buy low, +$2 on $10k if it goes back to its 7-day average of +0.044%. The two prices were read 53 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance BTCUSDT	85,570.8	0.0097	pay 0.0097% / 8h	4h 29m	$9.37B	$24.12B	150x
Short	Coinbase International BTC-PERP-INTX	85,626.9	0.0104	get 0.0013% / 1h	29m 23s	$116.9M	$5.19B	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against Binance. 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 BinancebpFee Coinbase InternationalbpOrdersPrice spread, now +0.066%Rate

Funding earned: $1.54
Price spread: +0.066% → +0.044%: $2.11
Slippage, 4 orders: −$0.02
Fee Binance: 5 bp × 2 orders: −$10
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$16.38
Costs to cover: 0.200%
Break-even: 81.5 days

Slippage from Binance: live order book, 15 min ago; Coinbase International: 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 Binance live order book, 15 min ago	0.01 bp	5.0 bp −$5	5.0 bp −$50	5.1 bp −$507	6.7 bp −$3,365
Sell Coinbase International live order book, 5 min ago	0.01 bp	5.0 bp −$5	5.0 bp −$50	5.2 bp −$525	12.9 bp −$6,434

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	−0.0179%	1h	85,566	−0.006%	$2.2M	$10.3M	40x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	85,578	+0.008%	$8K	$3K	50x	as long as short
01 Exchange BTCUSD	−0.0056%	1h	85,547.8	−0.027%	$365K	$2.3M	50x	as long as short
BloFin BTC-USDT	−0.0024%	8h	85,577.7	+0.008%	$418.0M	$668.3M	150x	as long as short
KuCoin XBTUSDTM	−0.0015%	8h	85,530.2	−0.047%	$921.0M	$750.5M	125x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0005% / S −0.0004%	1h	85,582.8	+0.014%	$36.6M	—	200x	as long as short
Aster BTCUSDT	+0.0015%	8h	85,564.5	−0.007%	$515.6M	$1.10B	200x	as long as short
dYdX BTC-USD	+0.0018%	1h	85,591.7	+0.024%	$16.7M	$21.3M	50x	as long as short
Arcus BTC-USD	+0.0021%	1h	85,535.1	−0.042%	$4.6M	$98.3M	40x	as long as short
Nado BTC-PERP	+0.0032%	1h	85,557	−0.016%	$25.5M	$221.9M	50x	as long as short

Show all 56 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bluefin BTC-PERP	+0.0050%	1h	85,621.1	+0.059%	$207K	$738K	40x	as long as short
BingX BTC-USDT	+0.0061%	8h	85,577.4	+0.008%	—	$1.55B	—	as long as short
Phemex BTCUSDT	+0.0076%	8h	85,568.8	−0.002%	$148.0M	$486.2M	150x	as long as short
Bitget BTCUSDT	+0.0077%	8h	85,565.8	−0.006%	$2.95B	$5.07B	150x	as long as short
Reya BTCRUSDPERP	+0.0081%	1h	85,566	−0.006%	$6.7M	$146.7M	40x	as long as short
MEXC BTC_USDT	+0.0095%	8h	85,578.3	+0.009%	$5.07B	$5.63B	500x	as long as short
Lighter BTC	+0.0096%	1h	85,579.2	+0.010%	$173.1M	$1.01B	50x	as long as short
Lighter RH BTC	+0.0096%	1h	85,594.9	+0.028%	$23.9M	$149.0M	50x	as long as short
Popdex BTCUSDT	+0.0096%	1h	85,551	−0.023%	$8.4M	$52.8M	100x	as long as short
Aevo BTC-PERP	+0.0096%	1h	85,568.1	−0.003%	$2.5M	$1.7M	20x	as long as short
Binance BTCUSDTlong	+0.0097%	8h	85,570.8	long leg	$9.37B	$24.12B	150x
Katana Perps BTC-USD	+0.0100%	8h	85,523	−0.056%	$212K	$8.1M	50x	as long as short
Paradex BTC-USD-PERP	+0.0100%	8h	85,619.7	+0.057%	$4.6M	$8.8M	50x	as long as short
Hyperliquid BTC	+0.0100%	1h	85,636	+0.076%	$3.75B	$4.98B	40x	as long as short
Pacifica BTC	+0.0100%	1h	85,588.2	+0.020%	$40.8M	$580.0M	50x	as long as short
Bybit BTCUSDT	+0.0100%	8h	85,568.2	−0.003%	$5.22B	$9.78B	150x	as long as short
OKX BTC-USDT-SWAP	+0.0100%	8h	85,575.3	+0.005%	$2.58B	$12.16B	100x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	85,540	−0.036%	$3.9M	$18.1M	25x	as long as short
Gate BTC_USDT	+0.0100%	8h	85,579	+0.010%	$5.51B	$10.69B	200x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	85,600.5	+0.035%	$35.7M	$176.3M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	85,543.7	−0.032%	$153.8M	$564.0M	—	as long as short
edgeX BTCUSDC	+0.0100%	4h	85,549.1	−0.025%	$279.5M	$920.8M	100x	as long as short
GRVT BTC_USDT_Perp	+0.0100%	8h	85,566.3	−0.005%	$214.8M	$169.8M	50x	as long as short
ApeX Omni BTCUSDT	+0.0100%	1h	85,483.1	−0.102%	$139.8M	$314.8M	100x	as long as short
StandX BTC-USD	+0.0100%	1h	85,567	−0.004%	$30.2M	$208.1M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	85,619.4	+0.057%	—	$11.8M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	85,562	−0.010%	$11.1M	$14.3M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	85,577.9	+0.008%	$192K	$3.3M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	85,574.8	+0.005%	$2.4M	$8.8M	100x	as long as short
Derive BTC-PERP	+0.0100%	1h	85,569.2	−0.002%	$30.0M	$50.9M	15x	as long as short
SunX BTC-USDT	+0.0100%	8h	85,570.7	0.000%	$2.9M	$6.1M	100x	as long as short
SoDEX BTC-USD	+0.0100%	1h	85,578	+0.008%	$60.0M	$336.1M	40x	as long as short
HTX BTC-USDT	+0.0100%	8h	85,567.8	−0.003%	$2.27B	$942.5M	200x	as long as short
Bulk BTC-USD	+0.0100%	1h	85,369.3	−0.236%	$653.8M	$618.7M	40x	as long as short
Extended BTC-USD	+0.0104%	1h	85,527.5	−0.051%	$44.5M	$228.1M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0056%	1h	85,564.9	−0.007%	—	$107.5M	500x	as long as short
Coinbase International BTC-PERP-INTXshort	+0.0104%	1h	85,626.9	+0.066%	$116.9M	$5.19B	50x
Deribit BTC-PERPETUAL	+0.0123%	1h	85,619.1	+0.056%	$894.7M	$1.54B	50x	as long as short
Injective BTC/USDC PERP	+0.0150%	1h	85,539	−0.037%	$340K	$26.9M	52x	as long as short
Kraken Futures PF_XBTUSD	+0.0170%	1h	85,600.7	+0.035%	$187.8M	$956.3M	100x	as long as short
RISEx BTC/USDC	+0.0194%	1h	85,573.9	+0.004%	$8.2M	$42.5M	25x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0202% / S −0.0177%	1h	85,583.7	+0.015%	$13.4M	—	200x	as long as short
Aftermath Perps BTCUSD	+0.0202%	1h	85,527.9	−0.050%	$78K	$219K	20x	as long as short
Hibachi BTC/USDT-P	+0.0208%	1h	85,602.9	+0.037%	$700K	$7.9M	30x	as long as short
Kalshi KXBTCPERP	+0.0218%	8h	85,615	+0.052%	$10.5M	$758.5M	6.4x	as long as short
Perpl BTC	+0.0447%	43m	85,594.4	+0.028%	$503K	$18.8M	6.7x	as long as short