Funding you earn now, next payment 22:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.187%
Price spread now: Bullet against Bluefin−0.036%7-day average +0.025% · you buy dearer than you sell
Net, funding: paid 7d − costs—under 7 days of funding history
Net, price: spread back to 7d avg − costs−$30as in the Price arb table
costs, in and out, $10k−$230.235% of the position
Funding, last 3 days (all we have)+0.406%+$41 on $10k
+Price spread, last 3 days (all we have)+0.075%+$8 · spread now −0.036%, 7d avg +0.025%
=Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Bullet is 0.061% cheaper against Bluefin than usual: you would sell low and buy high, −$6 on $10k if it goes back to its 7-day average of +0.025%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Bluefin BTC-PERP | 86,841.9 | 0.0100 | pay 0.0013% / 1h | 24m 24s | $141K | $619K | 40x |
| Short | Bullet BTC-USD | 86,811 | 0.0100 | get 0.0013% / 1h | 24m 24s | $198K | $3.4M | 20x |
Bluefin BTC-PERP
Bullet BTC-USDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Bullet against Bluefin. 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
- $0
- Price spread: −0.036% → +0.025%
- −$6.1
- Slippage, 4 orders
- −$8.5
- Fee Bluefin: 3.5 bp × 2 orders
- −$7
- Fee Bullet: 4 bp × 2 orders
- −$8
- Net
- −$29.6
- Costs to cover
- 0.235%
- Break-even
- never at this rate
Slippage from Bluefin: live order book, 64 min ago; Bullet: 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 Bluefin live order book, 64 min ago | 1.02 bp | 7.2 bp −$7 | 12.9 bp −$129 | doesn't fit | doesn't fit |
| Sell Bullet live order book, 5 min ago | 0.06 bp | 4.2 bp −$4 | 7.7 bp −$77 | doesn't fit | 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 | |
|---|---|---|---|---|---|---|---|---|
| Aftermath Perps BTCUSD | −0.0236% | 1h | 86,700 | −0.163% | $85K | $188K | 20x | as long as short |
| Perpl BTC | −0.0223% | 43m | 86,815.1 | −0.031% | $431K | $24.8M | 6.7x | as long as short |
| Phoenix BTC | −0.0103% | 1h | 86,583 | −0.298% | $2.2M | $12.4M | 40x | as long as short |
| Hotstuff BTC-PERP | −0.0080% | 1h | 86,781 | −0.070% | $9K | $3K | 50x | as long as short |
| dYdX BTC-USD | −0.0071% | 1h | 86,784.5 | −0.066% | $17.6M | $20.6M | 50x | as long as short |
| 01 Exchange BTCUSD | 0.0000% | 1h | 86,822.9 | −0.022% | $364K | $2.4M | 50x | as long as short |
| Deribit BTC-PERPETUAL | 0.0000% | 1h | 86,844.3 | +0.003% | $934.6M | $1.45B | 50x | as long as short |
| KuCoin XBTUSDTM | +0.0003% | 8h | 86,773.9 | −0.078% | $849.3M | $706.1M | 125x | as long as short |
| gTrade (Gains Network) BTC/USD | L +0.0005% / S −0.0004% | 1h | 86,831 | −0.013% | $36.9M | — | 200x | as long as short |
| Aster BTCUSDT | +0.0009% | 8h | 86,790.8 | −0.059% | $506.9M | $1.16B | 200x | as long as short |
Aftermath Perps BTCUSD
Perpl BTC
Phoenix BTC
Hotstuff BTC-PERP
dYdX BTC-USD
01 Exchange BTCUSD
Deribit BTC-PERPETUAL
KuCoin XBTUSDTM
gTrade (Gains Network) BTC/USD
Aster BTCUSDTShow all 56 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Reya BTCRUSDPERP | +0.0021% | 1h | 86,799.1 | −0.049% | $6.8M | $144.4M | 40x | as long as short |
| Phemex BTCUSDT | +0.0023% | 8h | 86,754 | −0.101% | $150.3M | $471.5M | 150x | as long as short |
| BingX BTC-USDC | +0.0025% | 8h | 86,802.8 | −0.045% | — | $15.3M | — | as long as short |
| Bitget BTCUSDT | +0.0033% | 8h | 86,809 | −0.038% | $2.96B | $5.08B | 150x | as long as short |
| Injective BTC/USDC PERP | +0.0049% | 1h | 86,639 | −0.234% | $315K | $26.8M | 52x | as long as short |
| MEXC BTC_USDT | +0.0056% | 8h | 86,802.8 | −0.045% | $5.19B | $5.69B | 500x | as long as short |
| Aevo BTC-PERP | +0.0056% | 1h | 86,811.2 | −0.035% | $2.4M | $1.3M | 20x | as long as short |
| Binance BTCUSDT | +0.0057% | 8h | 86,810.2 | −0.037% | $9.45B | $24.34B | 150x | as long as short |
| RISEx BTC/USDC | +0.0063% | 1h | 86,802.1 | −0.046% | $9.2M | $41.9M | 25x | as long as short |
| Gate BTC_USDT | +0.0080% | 8h | 86,813.4 | −0.033% | $5.86B | $10.65B | 200x | as long as short |
| OKX BTC-USDT-SWAP | +0.0080% | 8h | 86,819.9 | −0.025% | $2.56B | $12.75B | 100x | as long as short |
| Bybit BTCUSDT | +0.0084% | 8h | 86,815 | −0.031% | $5.28B | $9.69B | 150x | as long as short |
| Lighter BTC | +0.0096% | 1h | 86,806.9 | −0.040% | $172.0M | $1.01B | 50x | as long as short |
| Lighter RH BTC | +0.0096% | 1h | 86,812.2 | −0.034% | $24.0M | $153.7M | 50x | as long as short |
| Popdex BTCUSDT | +0.0096% | 1h | 86,790 | −0.060% | $8.5M | $52.3M | 100x | as long as short |
| Variational Omni BTC | +0.0097% | 8h | 86,726.9 | −0.132% | $159.3M | $566.6M | — | as long as short |
| Katana Perps BTC-USD | +0.0100% | 8h | 86,780 | −0.071% | $201K | $6.8M | 50x | as long as short |
| Paradex BTC-USD-PERP | +0.0100% | 8h | 86,838 | −0.004% | $4.8M | $8.2M | 50x | as long as short |
| Nado BTC-PERP | +0.0100% | 1h | 86,799.9 | −0.048% | $21.8M | $235.6M | 50x | as long as short |
| Hyperliquid BTC | +0.0100% | 1h | 86,864 | +0.025% | $3.83B | $5.11B | 40x | as long as short |
| Pacifica BTC | +0.0100% | 1h | 86,822.1 | −0.023% | $41.0M | $492.6M | 50x | as long as short |
| Ondo Perps BTC-USD.P | +0.0100% | 1h | 86,791 | −0.059% | $3.9M | $18.6M | 25x | as long as short |
| Arcus BTC-USD | +0.0100% | 1h | 86,861.5 | +0.023% | $7.6M | $94.5M | 40x | as long as short |
| Bulk BTC-USD | +0.0100% | 1h | 86,577.9 | −0.304% | $571.8M | $22.4M | 40x | as long as short |
| Backpack BTC_USDC_PERP | +0.0100% | 1h | 86,766.3 | −0.087% | $38.2M | $148.4M | 75x | as long as short |
| edgeX BTCUSDC | +0.0100% | 4h | 86,653.8 | −0.217% | $280.0M | $950.3M | 100x | as long as short |
| GRVT BTC_USDT_Perp | +0.0100% | 8h | 86,676.9 | −0.190% | $217.6M | $187.8M | 50x | as long as short |
| ApeX Omni BTCUSDT | +0.0100% | 1h | 86,687.3 | −0.178% | $141.5M | $322.6M | 100x | as long as short |
| StandX BTC-USD | +0.0100% | 1h | 86,729.7 | −0.129% | $30.8M | $205.1M | 40x | as long as short |
| Vest BTC-PERP | +0.0100% | 1h | 86,835.8 | −0.007% | — | $11.6M | 50x | as long as short |
| Polymarket Perps BTC-USD | +0.0100% | 1h | 86,800 | −0.048% | $11.1M | $13.8M | 50x | as long as short |
| Bullet BTC-USDshort | +0.0100% | 1h | 86,811 | −0.036% | $198K | $3.4M | 20x | |
| Orderly PERP_BTC_USDC | +0.0100% | 8h | 86,829.6 | −0.014% | $2.5M | $8.5M | 100x | as long as short |
| Bluefin BTC-PERPlong | +0.0100% | 1h | 86,841.9 | long leg | $141K | $619K | 40x | |
| Derive BTC-PERP | +0.0100% | 1h | 86,818.2 | −0.027% | $30.1M | $61.8M | 15x | as long as short |
| SunX BTC-USDT | +0.0100% | 8h | 86,790.9 | −0.059% | $3.4M | $5.5M | 100x | as long as short |
| SoDEX BTC-USD | +0.0100% | 1h | 86,810 | −0.037% | $60.6M | $336.4M | 40x | as long as short |
| HTX BTC-USDT | +0.0100% | 8h | 86,750 | −0.106% | $2.30B | $958.3M | 200x | as long as short |
| Extended BTC-USD | +0.0104% | 1h | 86,803.5 | −0.044% | $46.3M | $228.1M | 50x | as long as short |
| Jupiter Perps WBTC-PERP | L +0.0104% / S +0.0048% | 1h | 86,820.2 | −0.025% | — | $98.9M | 500x | as long as short |
| Kraken Futures PF_XBTUSD | +0.0116% | 1h | 86,842.7 | +0.001% | $188.8M | $932.9M | 100x | as long as short |
| Coinbase International BTC-PERP-INTX | +0.0120% | 1h | 86,861.3 | +0.022% | $132.2M | $5.87B | 50x | as long as short |
| Kalshi KXBTCPERP | +0.0133% | 8h | 86,788 | −0.062% | $9.6M | $726.0M | 6.4x | as long as short |
| BloFin BTC-USDT | +0.0177% | 8h | 86,751.2 | −0.104% | $417.2M | $654.5M | 150x | as long as short |
| GMX BTC/USD [WBTC.b-USDC] | L +0.0179% / S −0.0201% | 1h | 86,826.4 | −0.018% | $14.7M | — | 200x | as long as short |
| Hibachi BTC/USDT-P | +0.0216% | 1h | 86,782.6 | −0.068% | $618K | $7.1M | 30x | as long as short |
Reya BTCRUSDPERP
Phemex BTCUSDT
BingX BTC-USDC
Bitget BTCUSDT
Injective BTC/USDC PERP
MEXC BTC_USDT
Aevo BTC-PERP
Binance BTCUSDT
RISEx BTC/USDC
Gate BTC_USDT
OKX BTC-USDT-SWAP
Bybit BTCUSDT
Lighter BTC
Lighter RH BTC
Popdex BTCUSDT
Variational Omni BTC
Katana Perps BTC-USD
Paradex BTC-USD-PERP
Nado BTC-PERP
Hyperliquid BTC
Pacifica BTC
Ondo Perps BTC-USD.P
Arcus BTC-USD
Bulk BTC-USD
Backpack BTC_USDC_PERP
edgeX BTCUSDC
GRVT BTC_USDT_Perp
ApeX Omni BTCUSDT
StandX BTC-USD
Vest BTC-PERP
Polymarket Perps BTC-USD
Orderly PERP_BTC_USDC
Derive BTC-PERP
SunX BTC-USDT
SoDEX BTC-USD
HTX BTC-USDT
Extended BTC-USD
Jupiter Perps WBTC-PERP
Kraken Futures PF_XBTUSD
Coinbase International BTC-PERP-INTX
Kalshi KXBTCPERP
BloFin BTC-USDT
GMX BTC/USD [WBTC.b-USDC]
Hibachi BTC/USDT-P