Funding you earn now, next payment 00:00 UTC−0.0001%/8h= −0.1% APRpaid last 24h +0.174%
Price spread now: Bybit against Bluefin−0.041%7-day average +0.020% · you buy dearer than you sell
Net, funding: paid 7d − costs+$2as in the Funding arb table
Net, price: spread back to 7d avg − costs−$29as in the Price arb table
costs, in and out, $10k−$230.227% of the position
Funding, last 7 days+0.249%+$25 on $10k
+Price spread, last 3 days (all we have)+0.071%+$7 · spread now −0.041%, 7d avg +0.020%
=Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Bybit 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 +0.020%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Bluefin BTC-PERP | 86,616.8 | 0.0100 | pay 0.0013% / 1h | 4m 03s | $141K | $663K | 40x |
| Short | Bybit BTCUSDT | 86,581.1 | 0.0099 | get 0.0099% / 8h | 4m 03s | $5.27B | $9.79B | 150x |
Bluefin BTC-PERP
Bybit BTCUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Bybit 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
- −$0.18
- Price spread: −0.041% → +0.020%
- −$6.1
- Slippage, 4 orders
- −$4.65
- Fee Bluefin: 3.5 bp × 2 orders
- −$7
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Net
- −$28.93
- Costs to cover
- 0.227%
- Break-even
- never at this rate
Slippage from Bluefin: live order book, 10 min ago; Bybit: 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, 10 min ago | 1.72 bp | 5.9 bp −$6 | 10.3 bp −$103 | doesn't fit | doesn't fit |
| Sell Bybit live order book, 5 min ago | 0.01 bp | 5.5 bp −$6 | 5.6 bp −$56 | 6.5 bp −$655 | 7.5 bp −$3,735 |
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 | −0.0118% | 1h | 86,444 | −0.199% | $2.2M | $11.8M | 40x | as long as short |
| Hotstuff BTC-PERP | −0.0080% | 1h | 86,513 | −0.120% | $9K | $3K | 50x | as long as short |
| Injective BTC/USDC PERP | −0.0035% | 1h | 86,345 | −0.314% | $332K | $26.9M | 52x | as long as short |
| RISEx BTC/USDC | −0.0024% | 1h | 86,571.7 | −0.052% | $8.3M | $42.7M | 25x | as long as short |
| 01 Exchange BTCUSD | −0.0016% | 1h | 86,581.3 | −0.041% | $360K | $2.4M | 50x | as long as short |
| Perpl BTC | 0.0000% | 43m | 86,550.9 | −0.076% | $412K | $22.4M | 6.7x | as long as short |
| gTrade (Gains Network) BTC/USD | L +0.0005% / S −0.0005% | 1h | 86,592.6 | −0.028% | $36.9M | — | 200x | as long as short |
| Aster BTCUSDT | +0.0012% | 8h | 86,576.5 | −0.046% | $502.2M | $1.15B | 200x | as long as short |
| KuCoin XBTUSDTM | +0.0024% | 8h | 86,575.9 | −0.047% | $835.0M | $728.5M | 125x | as long as short |
| Reya BTCRUSDPERP | +0.0037% | 1h | 86,575.5 | −0.048% | $6.7M | $145.6M | 40x | as long as short |
Phoenix BTC
Hotstuff BTC-PERP
Injective BTC/USDC PERP
RISEx BTC/USDC
01 Exchange BTCUSD
Perpl BTC
gTrade (Gains Network) BTC/USD
Aster BTCUSDT
KuCoin XBTUSDTM
Reya BTCRUSDPERPShow all 56 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| BingX BTC-USDT | +0.0044% | 8h | 86,578.5 | −0.044% | — | $1.59B | — | as long as short |
| Phemex BTCUSDT | +0.0054% | 8h | 86,572.9 | −0.051% | $151.9M | $478.9M | 150x | as long as short |
| Bitget BTCUSDT | +0.0056% | 8h | 86,577.4 | −0.045% | $2.97B | $5.12B | 150x | as long as short |
| dYdX BTC-USD | +0.0064% | 1h | 86,559.6 | −0.066% | $17.0M | $21.2M | 50x | as long as short |
| Aevo BTC-PERP | +0.0072% | 1h | 86,567.9 | −0.056% | $2.5M | $1.4M | 20x | as long as short |
| MEXC BTC_USDT | +0.0075% | 8h | 86,573 | −0.051% | $5.16B | $5.69B | 500x | as long as short |
| Binance BTCUSDT | +0.0075% | 8h | 86,581.7 | −0.041% | $9.45B | $24.54B | 150x | as long as short |
| Gate BTC_USDT | +0.0081% | 8h | 86,570.1 | −0.054% | $5.85B | $10.82B | 200x | as long as short |
| Lighter BTC | +0.0096% | 1h | 86,582.1 | −0.040% | $170.0M | $1.02B | 50x | as long as short |
| Lighter RH BTC | +0.0096% | 1h | 86,584 | −0.038% | $23.8M | $153.3M | 50x | as long as short |
| Popdex BTCUSDT | +0.0096% | 1h | 86,578 | −0.045% | $8.5M | $52.3M | 100x | as long as short |
| Bybit BTCUSDTshort | +0.0099% | 8h | 86,581.1 | −0.041% | $5.27B | $9.79B | 150x | |
| Katana Perps BTC-USD | +0.0100% | 8h | 86,540 | −0.089% | $195K | $7.1M | 50x | as long as short |
| Paradex BTC-USD-PERP | +0.0100% | 8h | 86,592.1 | −0.029% | $4.8M | $8.5M | 50x | as long as short |
| Nado BTC-PERP | +0.0100% | 1h | 86,531.5 | −0.099% | $21.7M | $233.9M | 50x | as long as short |
| Hyperliquid BTC | +0.0100% | 1h | 86,651 | +0.039% | $3.80B | $5.10B | 40x | as long as short |
| Pacifica BTC | +0.0100% | 1h | 86,580.7 | −0.042% | $41.1M | $538.1M | 50x | as long as short |
| OKX BTC-USDT-SWAP | +0.0100% | 8h | 86,587.9 | −0.033% | $2.55B | $12.75B | 100x | as long as short |
| Ondo Perps BTC-USD.P | +0.0100% | 1h | 86,568 | −0.056% | $3.9M | $18.4M | 25x | as long as short |
| Arcus BTC-USD | +0.0100% | 1h | 86,588.6 | −0.033% | $7.3M | $96.2M | 40x | as long as short |
| Backpack BTC_USDC_PERP | +0.0100% | 1h | 86,577.1 | −0.046% | $38.1M | $155.7M | 75x | as long as short |
| Variational Omni BTC | +0.0100% | 8h | 86,474 | −0.165% | $157.6M | $567.5M | — | as long as short |
| edgeX BTCUSDC | +0.0100% | 4h | 86,494.6 | −0.141% | $279.4M | $947.7M | 100x | as long as short |
| GRVT BTC_USDT_Perp | +0.0100% | 8h | 86,461.1 | −0.180% | $217.1M | $172.4M | 50x | as long as short |
| ApeX Omni BTCUSDT | +0.0100% | 1h | 86,505.5 | −0.128% | $141.8M | $323.3M | 100x | as long as short |
| StandX BTC-USD | +0.0100% | 1h | 86,504 | −0.130% | $30.7M | $207.1M | 40x | as long as short |
| Vest BTC-PERP | +0.0100% | 1h | 86,604.7 | −0.014% | — | $11.9M | 50x | as long as short |
| Polymarket Perps BTC-USD | +0.0100% | 1h | 86,582 | −0.040% | $11.1M | $14.0M | 50x | as long as short |
| Bullet BTC-USD | +0.0100% | 1h | 86,577.4 | −0.046% | $193K | $3.3M | 20x | as long as short |
| Orderly PERP_BTC_USDC | +0.0100% | 8h | 86,570.7 | −0.053% | $2.5M | $9.3M | 100x | as long as short |
| Bluefin BTC-PERPlong | +0.0100% | 1h | 86,616.8 | long leg | $141K | $663K | 40x | |
| Derive BTC-PERP | +0.0100% | 1h | 86,605.7 | −0.013% | $30.5M | $62.6M | 15x | as long as short |
| SunX BTC-USDT | +0.0100% | 8h | 86,543 | −0.085% | $3.4M | $5.3M | 100x | as long as short |
| SoDEX BTC-USD | +0.0100% | 1h | 86,565 | −0.060% | $60.5M | $338.0M | 40x | as long as short |
| HTX BTC-USDT | +0.0100% | 8h | 86,564.1 | −0.061% | $2.30B | $968.5M | 200x | as long as short |
| Bulk BTC-USD | +0.0100% | 1h | 86,452.9 | −0.189% | $572.2M | $12.3M | 40x | as long as short |
| Extended BTC-USD | +0.0104% | 1h | 86,559.9 | −0.066% | $45.8M | $225.0M | 50x | as long as short |
| Jupiter Perps WBTC-PERP | L +0.0104% / S +0.0048% | 1h | 86,545.6 | −0.082% | — | $100.0M | 500x | as long as short |
| Kraken Futures PF_XBTUSD | +0.0110% | 1h | 86,600 | −0.019% | $193.6M | $953.0M | 100x | as long as short |
| Coinbase International BTC-PERP-INTX | +0.0112% | 1h | 86,617.2 | 0.000% | $132.2M | $5.64B | 50x | as long as short |
| Aftermath Perps BTCUSD | +0.0160% | 1h | 86,521.6 | −0.110% | $78K | $219K | 20x | as long as short |
| Hibachi BTC/USDT-P | +0.0184% | 1h | 86,531.8 | −0.098% | $717K | $8.1M | 30x | as long as short |
| BloFin BTC-USDT | +0.0195% | 8h | 86,487.6 | −0.149% | $415.0M | $659.1M | 150x | as long as short |
| GMX BTC/USD [WBTC.b-USDC] | L +0.0200% / S −0.0225% | 1h | 86,583 | −0.039% | $15.0M | — | 200x | as long as short |
| Kalshi KXBTCPERP | +0.0209% | 8h | 86,577 | −0.046% | $10.4M | $754.5M | 6.4x | as long as short |
| Deribit BTC-PERPETUAL | +0.0254% | 1h | 86,619.9 | +0.004% | $912.9M | $1.49B | 50x | as long as short |
BingX BTC-USDT
Phemex BTCUSDT
Bitget BTCUSDT
dYdX BTC-USD
Aevo BTC-PERP
MEXC BTC_USDT
Binance BTCUSDT
Gate BTC_USDT
Lighter BTC
Lighter RH BTC
Popdex BTCUSDT
Katana Perps BTC-USD
Paradex BTC-USD-PERP
Nado BTC-PERP
Hyperliquid BTC
Pacifica BTC
OKX BTC-USDT-SWAP
Ondo Perps BTC-USD.P
Arcus BTC-USD
Backpack BTC_USDC_PERP
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
Derive BTC-PERP
SunX BTC-USDT
SoDEX BTC-USD
HTX BTC-USDT
Bulk BTC-USD
Extended BTC-USD
Jupiter Perps WBTC-PERP
Kraken Futures PF_XBTUSD
Coinbase International BTC-PERP-INTX
Aftermath Perps BTCUSD
Hibachi BTC/USDT-P
BloFin BTC-USDT
GMX BTC/USD [WBTC.b-USDC]
Kalshi KXBTCPERP
Deribit BTC-PERPETUAL