Funding you earn now, next payment 00:00 UTC−0.0180%/8h= −19.7% APRnext payment −$0.23 per $10,000 · paid last 24h +0.134%
Price spread now: Hotstuff against Bluefin−0.107%7-day average — · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 3 days (all we have)—no history yet
+Price spread, last 7 days—no price history on both exchanges yet
=Both sides work against this trade now: funding costs −$5 a day on $10k at the current rate, and Hotstuff is 0.107% cheaper against Bluefin than usual: you would sell low and buy high (−$11 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Bluefin BTC-PERP | 86,553 | 0.0100 | pay 0.0013% / 1h | 56m 22s | $140K | $663K | 40x |
| Short | Hotstuff BTC-PERP | 86,460 | −0.0080 | pay 0.0010% / 1h | 56m 22s | $9K | $3K | 50x |
Bluefin BTC-PERP
Hotstuff BTC-PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Hotstuff 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
- −$37.8
- Price spread: −0.107% → 0.000%
- −$10.74
- Slippage, 4 orders
- no order book: not counted
- Fee Bluefin: 3.5 bp × 2 orders
- −$7
- Fee Hotstuff: 2.5 bp × 2 orders
- −$5
- Net
- −$60.54
- Costs to cover
- 0.120%
- Break-even
- never at this rate
Slippage unknown: Bluefin: live order book, 23 min ago; Hotstuff: no order-book sample. Net counts fees only.
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, 23 min ago | 1.10 bp | 6.3 bp −$6 | 10.9 bp −$109 | doesn't fit | doesn't fit |
| Sell Hotstuff no order-book sample | — | — | — | — | — |
Hotstuff: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.
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 | −0.0159% | 1h | 86,352 | −0.232% | $2.2M | $11.7M | 40x | as long as short |
| Hotstuff BTC-PERPshort | −0.0080% | 1h | 86,460 | −0.107% | $9K | $3K | 50x | |
| Injective BTC/USDC PERP | −0.0035% | 1h | 86,424 | −0.149% | $332K | $26.8M | 52x | as long as short |
| RISEx BTC/USDC | −0.0024% | 1h | 86,502.7 | −0.058% | $8.3M | $42.8M | 25x | as long as short |
| 01 Exchange BTCUSD | −0.0016% | 1h | 86,508.9 | −0.051% | $358K | $2.5M | 50x | as long as short |
| Aster BTCUSDT | −0.0006% | 8h | 86,501.7 | −0.059% | $503.6M | $1.15B | 200x | as long as short |
| gTrade (Gains Network) BTC/USD | L +0.0005% / S −0.0004% | 1h | 86,527.1 | −0.030% | $36.9M | — | 200x | as long as short |
| KuCoin XBTUSDTM | +0.0008% | 8h | 86,510.4 | −0.049% | $850.1M | $713.6M | 125x | as long as short |
| Deribit BTC-PERPETUAL | +0.0017% | 1h | 86,502.7 | −0.058% | $917.4M | $1.49B | 50x | as long as short |
| Reya BTCRUSDPERP | +0.0024% | 1h | 86,489.3 | −0.074% | $6.7M | $145.2M | 40x | as long as short |
Phoenix BTC
Injective BTC/USDC PERP
RISEx BTC/USDC
01 Exchange BTCUSD
Aster BTCUSDT
gTrade (Gains Network) BTC/USD
KuCoin XBTUSDTM
Deribit BTC-PERPETUAL
Reya BTCRUSDPERPShow all 56 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| BingX BTC-USDT | +0.0040% | 8h | 86,511.3 | −0.048% | — | $1.59B | — | as long as short |
| Phemex BTCUSDT | +0.0042% | 8h | 86,471.3 | −0.094% | $149.8M | $477.8M | 150x | as long as short |
| Bitget BTCUSDT | +0.0051% | 8h | 86,532.6 | −0.024% | $2.96B | $5.12B | 150x | as long as short |
| dYdX BTC-USD | +0.0058% | 1h | 86,452.4 | −0.116% | $17.0M | $21.1M | 50x | as long as short |
| Aevo BTC-PERP | +0.0064% | 1h | 86,523.2 | −0.034% | $2.4M | $1.3M | 20x | as long as short |
| MEXC BTC_USDT | +0.0068% | 8h | 86,503.8 | −0.057% | $5.12B | $5.61B | 500x | as long as short |
| Binance BTCUSDT | +0.0069% | 8h | 86,515.9 | −0.043% | $9.43B | $24.52B | 150x | as long as short |
| Gate BTC_USDT | +0.0082% | 8h | 86,508.7 | −0.051% | $5.85B | $10.69B | 200x | as long as short |
| Aftermath Perps BTCUSD | +0.0084% | 1h | 86,439.6 | −0.131% | $79K | $220K | 20x | as long as short |
| Lighter BTC | +0.0096% | 1h | 86,481.4 | −0.083% | $170.3M | $1.01B | 50x | as long as short |
| Lighter RH BTC | +0.0096% | 1h | 86,498.9 | −0.063% | $24.0M | $151.1M | 50x | as long as short |
| Popdex BTCUSDT | +0.0096% | 1h | 86,502 | −0.059% | $8.5M | $52.5M | 100x | as long as short |
| Bybit BTCUSDT | +0.0099% | 8h | 86,510.5 | −0.049% | $5.26B | $9.80B | 150x | as long as short |
| Katana Perps BTC-USD | +0.0100% | 8h | 86,480 | −0.084% | $203K | $7.0M | 50x | as long as short |
| Paradex BTC-USD-PERP | +0.0100% | 8h | 86,514.1 | −0.045% | $4.8M | $8.5M | 50x | as long as short |
| Nado BTC-PERP | +0.0100% | 1h | 86,465 | −0.102% | $21.9M | $234.6M | 50x | as long as short |
| Hyperliquid BTC | +0.0100% | 1h | 86,572 | +0.022% | $3.80B | $5.11B | 40x | as long as short |
| Pacifica BTC | +0.0100% | 1h | 86,503.7 | −0.057% | $41.2M | $521.5M | 50x | as long as short |
| OKX BTC-USDT-SWAP | +0.0100% | 8h | 86,532.5 | −0.024% | $2.54B | $12.73B | 100x | as long as short |
| Ondo Perps BTC-USD.P | +0.0100% | 1h | 86,490 | −0.073% | $3.9M | $18.6M | 25x | as long as short |
| Arcus BTC-USD | +0.0100% | 1h | 86,535.6 | −0.020% | $7.6M | $94.7M | 40x | as long as short |
| Bulk BTC-USD | +0.0100% | 1h | 86,382.9 | −0.197% | $571.1M | $18.1M | 40x | as long as short |
| Backpack BTC_USDC_PERP | +0.0100% | 1h | 86,462.4 | −0.105% | $37.8M | $154.6M | 75x | as long as short |
| Variational Omni BTC | +0.0100% | 8h | 86,337.9 | −0.249% | $155.6M | $568.2M | — | as long as short |
| edgeX BTCUSDC | +0.0100% | 4h | 86,393.2 | −0.185% | $279.2M | $943.9M | 100x | as long as short |
| GRVT BTC_USDT_Perp | +0.0100% | 8h | 86,348.3 | −0.236% | $216.7M | $173.5M | 50x | as long as short |
| ApeX Omni BTCUSDT | +0.0100% | 1h | 86,396.2 | −0.181% | $141.2M | $323.3M | 100x | as long as short |
| StandX BTC-USD | +0.0100% | 1h | 86,425.5 | −0.147% | $30.7M | $204.2M | 40x | as long as short |
| Vest BTC-PERP | +0.0100% | 1h | 86,535.4 | −0.020% | — | $11.7M | 50x | as long as short |
| Polymarket Perps BTC-USD | +0.0100% | 1h | 86,502 | −0.059% | $11.1M | $13.8M | 50x | as long as short |
| Bullet BTC-USD | +0.0100% | 1h | 86,513.3 | −0.046% | $190K | $3.3M | 20x | as long as short |
| Orderly PERP_BTC_USDC | +0.0100% | 8h | 86,533.2 | −0.023% | $2.4M | $8.8M | 100x | as long as short |
| Bluefin BTC-PERPlong | +0.0100% | 1h | 86,553 | long leg | $140K | $663K | 40x | |
| Derive BTC-PERP | +0.0100% | 1h | 86,565.9 | +0.015% | $30.6M | $62.2M | 15x | as long as short |
| SunX BTC-USDT | +0.0100% | 8h | 86,460.3 | −0.107% | $3.4M | $5.4M | 100x | as long as short |
| SoDEX BTC-USD | +0.0100% | 1h | 86,470 | −0.096% | $60.4M | $337.5M | 40x | as long as short |
| HTX BTC-USDT | +0.0100% | 8h | 86,440 | −0.131% | $2.29B | $969.3M | 200x | as long as short |
| Extended BTC-USD | +0.0104% | 1h | 86,483.3 | −0.081% | $45.4M | $226.8M | 50x | as long as short |
| Jupiter Perps WBTC-PERP | L +0.0104% / S +0.0048% | 1h | 86,515.4 | −0.043% | — | $99.0M | 500x | as long as short |
| Kraken Futures PF_XBTUSD | +0.0110% | 1h | 86,497.2 | −0.065% | $192.2M | $947.8M | 100x | as long as short |
| Perpl BTC | +0.0112% | 43m | 86,483.7 | −0.080% | $417K | $23.4M | 6.7x | as long as short |
| Coinbase International BTC-PERP-INTX | +0.0112% | 1h | 86,511.9 | −0.047% | $132.3M | $5.68B | 50x | as long as short |
| Hibachi BTC/USDT-P | +0.0160% | 1h | 86,481.4 | −0.083% | $718K | $8.1M | 30x | as long as short |
| BloFin BTC-USDT | +0.0189% | 8h | 86,471.5 | −0.094% | $414.6M | $655.4M | 150x | as long as short |
| GMX BTC/USD [WBTC.b-USDC] | L +0.0190% / S −0.0213% | 1h | 86,518.8 | −0.039% | $15.1M | — | 200x | as long as short |
| Kalshi KXBTCPERP | +0.0201% | 8h | 86,470 | −0.096% | $9.8M | $738.0M | 6.4x | 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
Aftermath Perps BTCUSD
Lighter BTC
Lighter RH BTC
Popdex BTCUSDT
Bybit 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
Bulk 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
Extended BTC-USD
Jupiter Perps WBTC-PERP
Kraken Futures PF_XBTUSD
Perpl BTC
Coinbase International BTC-PERP-INTX
Hibachi BTC/USDT-P
BloFin BTC-USDT
GMX BTC/USD [WBTC.b-USDC]
Kalshi KXBTCPERP