BTC

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0772%/8h= +84.5% APRnext payment +$0.97 per $10,000 · paid last 24h +0.185%

Price spread now: RISEx against Bluefin−0.059%7-day average +0.041% · 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−$200.200% of the position

Long on Bluefin Short on RISEx

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.418%+$42 on $10k

Price spread, last 3 days (all we have)+0.109%+$11 · spread now −0.059%, 7d avg +0.041%

Together, before fees+0.527%+$53 on $10k · with fees, hour by hour

Funding pays, the price is against you. RISEx is 0.100% cheaper against Bluefin than usual: you would sell low and buy high (spread −0.059% now, against its 7-day average of +0.041%). If the spread goes back, that is −$10 on $10k: about 10 hours of funding at the current rate (+$23 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bluefin BTC-PERP	86,442	−0.0766	get 0.0096% / 1h	15m 40s	$140K	$620K	40x
Short	RISEx BTC/USDC	86,390.8	0.0006	get 0.0001% / 1h	15m 40s	$8.4M	$42.8M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

RISEx against Bluefin. 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 BluefinbpFee RISExbpOrdersPrice spread, now −0.059%Rate

Funding earned: $162.14
Price spread: −0.059% → +0.041%: −$9.98
Slippage, 4 orders: −$7.05
Fee Bluefin: 3.5 bp × 2 orders: −$7
Fee RISEx: 3 bp × 2 orders: −$6
Net: $132.11
Costs to cover: 0.200%
Break-even: 1.3 days

Slippage from Bluefin: live order book, 4 min ago; RISEx: live order book, 4 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, 4 min ago	1.10 bp	6.3 bp −$6	10.9 bp −$109	doesn't fit	doesn't fit
Sell RISEx live order book, 4 min ago	0.01 bp	4.3 bp −$4	4.3 bp −$43	11.3 bp −$1,135	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
Bluefin BTC-PERPlong	−0.0766%	1h	86,442	long leg	$140K	$620K	40x
Phoenix BTC	−0.0159%	1h	86,503	+0.071%	$2.2M	$11.8M	40x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	86,386	−0.065%	$9K	$3K	50x	as long as short
01 Exchange BTCUSD	−0.0016%	1h	86,392.3	−0.057%	$360K	$2.4M	50x	as long as short
Aster BTCUSDT	−0.0010%	8h	86,378.7	−0.073%	$503.5M	$1.15B	200x	as long as short
Perpl BTC	0.0000%	43m	86,441.3	−0.001%	$421K	$23.7M	6.7x	as long as short
Deribit BTC-PERPETUAL	0.0000%	1h	86,430.9	−0.013%	$920.5M	$1.48B	50x	as long as short
KuCoin XBTUSDTM	+0.0002%	8h	86,385.6	−0.065%	$851.7M	$712.2M	125x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0005% / S −0.0004%	1h	86,441.6	0.000%	$36.8M	—	200x	as long as short
dYdX BTC-USD	+0.0005%	1h	86,406.9	−0.041%	$17.0M	$21.1M	50x	as long as short

Show all 56 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
RISEx BTC/USDCshort	+0.0006%	1h	86,390.8	−0.059%	$8.4M	$42.8M	25x
Aftermath Perps BTCUSD	+0.0017%	1h	86,477.9	+0.042%	$82K	$217K	20x	as long as short
Reya BTCRUSDPERP	+0.0023%	1h	86,407.2	−0.040%	$6.7M	$145.0M	40x	as long as short
Injective BTC/USDC PERP	+0.0024%	1h	86,559	+0.135%	$315K	$26.8M	52x	as long as short
BingX BTC-USDC	+0.0036%	8h	86,370.9	−0.082%	—	$15.3M	—	as long as short
Phemex BTCUSDT	+0.0039%	8h	86,403.1	−0.045%	$150.0M	$476.9M	150x	as long as short
Bitget BTCUSDT	+0.0046%	8h	86,384.8	−0.066%	$2.95B	$5.10B	150x	as long as short
MEXC BTC_USDT	+0.0063%	8h	86,388.6	−0.062%	$5.14B	$5.70B	500x	as long as short
Binance BTCUSDT	+0.0064%	8h	86,386.6	−0.064%	$9.42B	$24.43B	150x	as long as short
Aevo BTC-PERP	+0.0064%	1h	86,411.1	−0.036%	$2.4M	$1.3M	20x	as long as short
Gate BTC_USDT	+0.0079%	8h	86,388.6	−0.062%	$5.84B	$10.74B	200x	as long as short
Bybit BTCUSDT	+0.0093%	8h	86,391.8	−0.058%	$5.25B	$9.78B	150x	as long as short
Lighter BTC	+0.0096%	1h	86,396.4	−0.053%	$170.6M	$1.01B	50x	as long as short
Lighter RH BTC	+0.0096%	1h	86,414.4	−0.032%	$24.1M	$152.5M	50x	as long as short
Popdex BTCUSDT	+0.0096%	1h	86,385	−0.066%	$8.4M	$52.4M	100x	as long as short
Hibachi BTC/USDT-P	+0.0096%	1h	86,499.1	+0.066%	$717K	$8.2M	30x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	86,372	−0.081%	$201K	$6.9M	50x	as long as short
Paradex BTC-USD-PERP	+0.0100%	8h	86,422.9	−0.022%	$4.8M	$8.5M	50x	as long as short
Nado BTC-PERP	+0.0100%	1h	86,400.5	−0.048%	$21.8M	$234.5M	50x	as long as short
Hyperliquid BTC	+0.0100%	1h	86,462	+0.023%	$3.80B	$5.10B	40x	as long as short
Pacifica BTC	+0.0100%	1h	86,425.5	−0.019%	$40.7M	$513.8M	50x	as long as short
OKX BTC-USDT-SWAP	+0.0100%	8h	86,394.4	−0.055%	$2.53B	$12.72B	100x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	86,398	−0.051%	$3.9M	$18.6M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	86,454.4	+0.014%	$7.8M	$94.8M	40x	as long as short
Bulk BTC-USD	+0.0100%	1h	86,498.7	+0.066%	$571.7M	$18.6M	40x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	86,391.7	−0.058%	$37.8M	$155.1M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	86,498.8	+0.066%	$156.2M	$568.5M	—	as long as short
edgeX BTCUSDC	+0.0100%	4h	86,426.9	−0.017%	$279.3M	$949.8M	100x	as long as short
GRVT BTC_USDT_Perp	+0.0100%	8h	86,418.2	−0.028%	$217.1M	$176.0M	50x	as long as short
ApeX Omni BTCUSDT	+0.0100%	1h	86,540.1	+0.113%	$141.5M	$323.4M	100x	as long as short
StandX BTC-USD	+0.0100%	1h	86,418.5	−0.027%	$30.7M	$203.8M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	86,472.6	+0.035%	—	$11.6M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	86,419	−0.027%	$11.1M	$13.8M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	86,422	−0.023%	$189K	$3.3M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	86,427.5	−0.017%	$2.4M	$8.7M	100x	as long as short
Derive BTC-PERP	+0.0100%	1h	86,427.2	−0.017%	$30.4M	$61.6M	15x	as long as short
SunX BTC-USDT	+0.0100%	8h	86,394.8	−0.055%	$3.4M	$5.4M	100x	as long as short
SoDEX BTC-USD	+0.0100%	1h	86,403	−0.045%	$60.4M	$337.3M	40x	as long as short
HTX BTC-USDT	+0.0100%	8h	86,400.8	−0.048%	$2.29B	$968.5M	200x	as long as short
Extended BTC-USD	+0.0104%	1h	86,370.3	−0.083%	$45.5M	$226.1M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0048%	1h	86,441.2	−0.001%	—	$98.8M	500x	as long as short
Coinbase International BTC-PERP-INTX	+0.0112%	1h	86,438.9	−0.004%	$131.5M	$5.69B	50x	as long as short
Kraken Futures PF_XBTUSD	+0.0121%	1h	86,419.3	−0.026%	$191.1M	$943.7M	100x	as long as short
BloFin BTC-USDT	+0.0184%	8h	86,401.9	−0.046%	$414.3M	$653.7M	150x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0186% / S −0.0212%	1h	86,436.3	−0.007%	$15.2M	—	200x	as long as short
Kalshi KXBTCPERP	+0.0199%	8h	86,446	+0.005%	$9.7M	$734.2M	6.4x	as long as short