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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 22:00 UTC+0.0072%/8h= +7.9% APRpaid last 24h −0.171%
Price spread now: Bluefin against Bitget+0.002%7-day average −0.018% · you sell dearer than you buy
Net, funding: paid 7d − costs−$51as in the Funding arb table
Net, price: spread back to 7d avg − costs−$25as in the Price arb table
costs, in and out, $10k−$260.265% of the position
Long on BitgetShort on Bluefin
What this pair did over the last
the charts below follow
Funding, last 7 days−0.242%−$24 on $10k
Price spread, last 3 days (all we have)−0.037%−$4 · spread now +0.002%, 7d avg −0.018%
Together, before fees−0.279%−$28 on $10k · with fees, hour by hour
The price spread sits at its 7-day average of −0.018%, 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 cost −0.242%, so the current rate has only just turned in your favour.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongBitget BTCUSDT86,575.90.0028pay 0.0028% / 8h2h 36m$2.94B$5.07B150x
ShortBluefin BTC-PERP86,577.30.0100get 0.0013% / 1h36m 22s$140K$619K40x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Bluefin against Bitget. Falling: the short leg gains. Rising: it loses.
latest
Price spreadloading…

Funding on every exchange

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latest
How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Funding earned
$15.12
Price spread: +0.002% → −0.018%
$1.99
Slippage, 4 orders
−$7.49
Fee Bitget: 6 bp × 2 orders
−$12
Fee Bluefin: 3.5 bp × 2 orders
−$7
Net
−$9.39
Costs to cover
0.265%
Break-even
11.3 days
Slippage from Bitget: live order book, 3 min ago; Bluefin: live order book, 52 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 Bitget live order book, 3 min ago0.01 bp6.0 bp −$66.6 bp −$667.3 bp −$729doesn't fit
Sell Bluefin live order book, 52 min ago1.02 bp7.3 bp −$713.0 bp −$130doesn't fitdoesn'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
Aftermath Perps BTCUSD−0.0225%1h86,599.3+0.027%$85K$188K20xas long as short
Perpl BTC−0.0223%43m86,625.6+0.057%$428K$25.0M6.7xas long as short
Phoenix BTC−0.0103%1h86,539−0.043%$2.2M$12.4M40xas long as short
dYdX BTC-USD−0.0091%1h86,632.9+0.066%$17.6M$20.5M50xas long as short
Hotstuff BTC-PERP−0.0080%1h86,514−0.071%$9K$3K50xas long as short
01 Exchange BTCUSD0.0000%1h86,611+0.041%$361K$2.4M50xas long as short
KuCoin XBTUSDTM0.0000%8h86,595.1+0.022%$844.2M$706.4M125xas long as short
Deribit BTC-PERPETUAL0.0000%1h86,681.9+0.122%$936.1M$1.43B50xas long as short
gTrade (Gains Network) BTC/USDL +0.0005% / S −0.0005%1h86,577+0.001%$36.6M—200xas long as short
Aster BTCUSDT+0.0010%8h86,575.60.000%$505.5M$1.16B200xas long as short
Show all 56 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Reya BTCRUSDPERP+0.0021%1h86,577.1+0.001%$6.7M$144.3M40xas long as short
BingX BTC-USDC+0.0022%8h86,552.9−0.027%—$15.3M—as long as short
Phemex BTCUSDT+0.0024%8h86,640.7+0.075%$149.7M$470.8M150xas long as short
Bitget BTCUSDTlong+0.0028%8h86,575.9long leg$2.94B$5.07B150x
Aevo BTC-PERP+0.0048%1h86,660.8+0.098%$2.4M$1.3M20xas long as short
Injective BTC/USDC PERP+0.0049%1h86,732+0.180%$315K$26.8M52xas long as short
MEXC BTC_USDT+0.0050%8h86,580.5+0.005%$5.18B$5.66B500xas long as short
Binance BTCUSDT+0.0051%8h86,560−0.018%$9.43B$24.30B150xas long as short
RISEx BTC/USDC+0.0063%1h86,593.5+0.020%$9.2M$42.0M25xas long as short
Gate BTC_USDT+0.0069%8h86,574.1−0.002%$5.86B$10.62B200xas long as short
OKX BTC-USDT-SWAP+0.0070%8h86,558.3−0.020%$2.56B$12.69B100xas long as short
Bybit BTCUSDT+0.0079%8h86,553.2−0.026%$5.27B$9.66B150xas long as short
Variational Omni BTC+0.0091%8h86,619.6+0.050%$160.0M$567.4M—as long as short
Lighter BTC+0.0096%1h86,604.7+0.033%$172.0M$1.01B50xas long as short
Lighter RH BTC+0.0096%1h86,599.8+0.028%$24.0M$153.4M50xas long as short
Popdex BTCUSDT+0.0096%1h86,583+0.008%$8.5M$52.1M100xas long as short
Paradex BTC-USD-PERP+0.0100%8h86,652+0.088%$4.8M$8.2M50xas long as short
Katana Perps BTC-USD+0.0100%8h86,578+0.002%$195K$6.8M50xas long as short
Nado BTC-PERP+0.0100%1h86,587.4+0.013%$21.6M$235.6M50xas long as short
Hyperliquid BTC+0.0100%1h86,654+0.090%$3.82B$5.12B40xas long as short
Pacifica BTC+0.0100%1h86,624.1+0.056%$41.3M$490.3M50xas long as short
Ondo Perps BTC-USD.P+0.0100%1h86,629+0.061%$3.9M$18.6M25xas long as short
Arcus BTC-USD+0.0100%1h86,653.9+0.090%$7.5M$93.6M40xas long as short
Bulk BTC-USD+0.0100%1h86,606.9+0.036%$571.9M$22.8M40xas long as short
Backpack BTC_USDC_PERP+0.0100%1h86,650.3+0.086%$38.1M$148.4M75xas long as short
edgeX BTCUSDC+0.0100%4h86,571.5−0.005%$279.6M$949.6M100xas long as short
GRVT BTC_USDT_Perp+0.0100%8h86,620.3+0.051%$217.5M$188.3M50xas long as short
ApeX Omni BTCUSDT+0.0100%1h86,631.1+0.064%$141.6M$323.0M100xas long as short
StandX BTC-USD+0.0100%1h86,635.6+0.069%$30.8M$205.6M40xas long as short
Vest BTC-PERP+0.0100%1h86,651.5+0.087%—$11.6M50xas long as short
Polymarket Perps BTC-USD+0.0100%1h86,584+0.009%$11.1M$13.7M50xas long as short
Bullet BTC-USD+0.0100%1h86,583.7+0.009%$194K$3.4M20xas long as short
Orderly PERP_BTC_USDC+0.0100%8h86,572.1−0.004%$2.5M$8.5M100xas long as short
Bluefin BTC-PERPshort+0.0100%1h86,577.3+0.002%$140K$619K40x
Derive BTC-PERP+0.0100%1h86,668.3+0.107%$30.0M$61.6M15xas long as short
SunX BTC-USDT+0.0100%8h86,659.4+0.096%$3.4M$5.5M100xas long as short
SoDEX BTC-USD+0.0100%1h86,647+0.082%$60.5M$336.5M40xas long as short
HTX BTC-USDT+0.0100%8h86,654.6+0.091%$2.30B$956.9M200xas long as short
Extended BTC-USD+0.0104%1h86,570−0.007%$46.4M$227.9M50xas long as short
Jupiter Perps WBTC-PERPL +0.0104% / S +0.0048%1h86,602.3+0.030%—$98.3M500xas long as short
Kraken Futures PF_XBTUSD+0.0116%1h86,682.4+0.123%$189.3M$930.4M100xas long as short
Kalshi KXBTCPERP+0.0120%8h86,674+0.113%$9.0M$723.1M6.4xas long as short
Coinbase International BTC-PERP-INTX+0.0120%1h86,694+0.136%$131.9M$5.87B50xas long as short
BloFin BTC-USDT+0.0170%8h86,675.1+0.115%$417.6M$650.6M150xas long as short
GMX BTC/USD [WBTC.b-USDC]L +0.0178% / S −0.0185%1h86,587.8+0.014%$14.9M—200xas long as short
Hibachi BTC/USDT-P+0.0224%1h86,686.3+0.128%$615K$7.1M30xas long as short