BTC

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0048%/8h= +5.2% APRnext payment +$0.48 per $10,000 · paid last 24h −0.014%

Price spread now: GRVT against Binance+0.151%69s7-day average +0.001% · 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−$190.190% of the position

Long on Binance Short on GRVT

What this pair did over the last

the charts below follow

Funding, last 7 days−0.004%$0 on $10k

Price spread, last 7 days−0.154%−$15 · spread now +0.151%, 7d avg +0.001%

Together, before fees−0.158%+ Points / potential airdropGRVT: Active · farm board−$16 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and GRVT is 0.150% dearer against Binance than usual: you sell high and buy low: +$15 more if the spread goes back to its 7-day average of +0.001%. The two prices were read 69 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	86,666.8	0.0047	pay 0.0047% / 8h	2h 52m	$9.45B	$24.34B	150x
Short	GRVT BTC_USDT_Perp	86,798	0.0095	get 0.0095% / 8h	2h 52m	$217.8M	$191.2M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GRVT 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 GRVTbpOrdersPrice spread, now +0.151%Rate

Funding earned: $10.01
Price spread: +0.151% → +0.001%: $14.99
Slippage, 4 orders: −$0.02
Fee Binance: 5 bp × 2 orders: −$10
Fee GRVT: 4.5 bp × 2 orders: −$9
Net: $5.98
Costs to cover: 0.190%
Break-even: 2.8 days

Slippage from Binance: live order book, 7 min ago; GRVT: 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 Binance live order book, 7 min ago	0.01 bp	5.0 bp −$5	5.0 bp −$50	5.3 bp −$533	7.3 bp −$3,630
Sell GRVT live order book, 2 min ago	0.01 bp	4.5 bp −$5	4.5 bp −$45	9.9 bp −$991	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
Perpl BTC	−0.0335%	43m	86,676.3	+0.011%	$425K	$25.4M	6.7x	as long as short
Aftermath Perps BTCUSD	−0.0192%	1h	86,795.1	+0.148%	$85K	$188K	20x	as long as short
Phoenix BTC	−0.0103%	1h	86,701	+0.039%	$2.2M	$12.4M	40x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	86,691	+0.028%	$9K	$3K	50x	as long as short
dYdX BTC-USD	−0.0073%	1h	86,696.3	+0.034%	$18.1M	$19.9M	50x	as long as short
KuCoin XBTUSDTM	−0.0002%	8h	86,661.6	−0.006%	$845.5M	$709.5M	125x	as long as short
01 Exchange BTCUSD	0.0000%	1h	86,694.9	+0.032%	$361K	$2.5M	50x	as long as short
Kalshi KXBTCPERP	0.0000%	8h	86,746	+0.091%	$8.8M	$725.0M	6.4x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0005% / S −0.0005%	1h	86,698.3	+0.036%	$36.7M	—	200x	as long as short
Aster BTCUSDT	+0.0015%	8h	86,654.2	−0.015%	$505.9M	$1.16B	200x	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	+0.0015%	1h	86,690.8	+0.028%	$141K	$619K	40x	as long as short
BingX BTC-USDC	+0.0019%	8h	86,677.5	+0.012%	—	$15.3M	—	as long as short
Reya BTCRUSDPERP	+0.0021%	1h	86,671	+0.005%	$6.8M	$143.9M	40x	as long as short
Phemex BTCUSDT	+0.0021%	8h	86,698.8	+0.037%	$149.6M	$469.3M	150x	as long as short
Bitget BTCUSDT	+0.0026%	8h	86,672.2	+0.006%	$2.95B	$5.08B	150x	as long as short
MEXC BTC_USDT	+0.0047%	8h	86,670.1	+0.004%	$5.21B	$5.63B	500x	as long as short
Binance BTCUSDTlong	+0.0047%	8h	86,666.8	long leg	$9.45B	$24.34B	150x
Aevo BTC-PERP	+0.0048%	1h	86,670.5	+0.004%	$2.4M	$1.3M	20x	as long as short
Injective BTC/USDC PERP	+0.0049%	1h	86,732	+0.075%	$315K	$26.8M	52x	as long as short
OKX BTC-USDT-SWAP	+0.0058%	8h	86,673.8	+0.008%	$2.58B	$12.72B	100x	as long as short
RISEx BTC/USDC	+0.0063%	1h	86,687.4	+0.024%	$9.0M	$42.1M	25x	as long as short
Gate BTC_USDT	+0.0064%	8h	86,676.3	+0.011%	$5.86B	$10.55B	200x	as long as short
Deribit BTC-PERPETUAL	+0.0069%	1h	86,747	+0.093%	$922.1M	$1.38B	50x	as long as short
Bybit BTCUSDT	+0.0077%	8h	86,665.1	−0.002%	$5.28B	$9.69B	150x	as long as short
Variational Omni BTC	+0.0088%	8h	86,792.9	+0.145%	$161.2M	$563.4M	—	as long as short
GRVT BTC_USDT_Perpshort	+0.0095%	8h	86,798	+0.151%	$217.8M	$191.2M	50x
Lighter BTC	+0.0096%	1h	86,683	+0.019%	$172.3M	$1.00B	50x	as long as short
Lighter RH BTC	+0.0096%	1h	86,694.6	+0.032%	$24.1M	$152.7M	50x	as long as short
Popdex BTCUSDT	+0.0096%	1h	86,667	0.000%	$8.5M	$52.1M	100x	as long as short
Orderly PERP_BTC_USDC	+0.0098%	8h	86,675.4	+0.010%	$2.5M	$8.4M	100x	as long as short
Paradex BTC-USD-PERP	+0.0100%	8h	86,727.8	+0.070%	$4.8M	$8.2M	50x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	86,665	−0.002%	$202K	$6.8M	50x	as long as short
Nado BTC-PERP	+0.0100%	1h	86,658.2	−0.010%	$21.9M	$237.7M	50x	as long as short
Hyperliquid BTC	+0.0100%	1h	86,747	+0.092%	$3.85B	$5.09B	40x	as long as short
Pacifica BTC	+0.0100%	1h	86,707.4	+0.047%	$41.6M	$484.5M	50x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	86,683	+0.019%	$3.9M	$18.8M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	86,749.5	+0.095%	$7.6M	$95.4M	40x	as long as short
Bulk BTC-USD	+0.0100%	1h	86,919.5	+0.292%	$573.8M	$23.8M	40x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	86,700.6	+0.039%	$38.2M	$148.1M	75x	as long as short
edgeX BTCUSDC	+0.0100%	4h	86,752.1	+0.098%	$280.2M	$945.8M	100x	as long as short
ApeX Omni BTCUSDT	+0.0100%	1h	86,805.9	+0.160%	$142.0M	$322.7M	100x	as long as short
StandX BTC-USD	+0.0100%	1h	86,692.9	+0.030%	$30.8M	$205.7M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	86,740.3	+0.085%	—	$11.6M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	86,680	+0.015%	$11.1M	$13.7M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	86,670.8	+0.005%	$201K	$3.4M	20x	as long as short
Derive BTC-PERP	+0.0100%	1h	86,704.9	+0.044%	$30.0M	$61.5M	15x	as long as short
SunX BTC-USDT	+0.0100%	8h	86,705.2	+0.044%	$3.4M	$5.6M	100x	as long as short
SoDEX BTC-USD	+0.0100%	1h	86,696	+0.034%	$60.5M	$336.5M	40x	as long as short
HTX BTC-USDT	+0.0100%	8h	86,704.3	+0.043%	$2.30B	$954.3M	200x	as long as short
Extended BTC-USD	+0.0104%	1h	86,658.6	−0.010%	$46.3M	$228.4M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0048%	1h	86,703.3	+0.042%	—	$97.8M	500x	as long as short
Kraken Futures PF_XBTUSD	+0.0116%	1h	86,738.2	+0.082%	$192.7M	$927.3M	100x	as long as short
Coinbase International BTC-PERP-INTX	+0.0120%	1h	86,750.2	+0.096%	$132.2M	$5.93B	50x	as long as short
BloFin BTC-USDT	+0.0167%	8h	86,696.6	+0.034%	$419.6M	$641.9M	150x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0181% / S −0.0200%	1h	86,693.4	+0.031%	$15.4M	—	200x	as long as short
Hibachi BTC/USDT-P	+0.0200%	1h	86,754.1	+0.101%	$599K	$7.2M	30x	as long as short