BTC

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0094%/8h= −10.3% APRnext payment −$0.12 per $10,000 · paid last 24h +0.001%

Price spread now: RISEx against Bulk−0.210%7-day average +0.007% · 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−$37as in the Price arb table

costs, in and out, $10k−$150.149% of the position

Long on Bulk Short on RISEx

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.009%−$1 on $10k

Price spread, last 7 days+0.237%+$24 · spread now −0.210%, 7d avg +0.007%

Together, before fees+0.229%+$23 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and RISEx is 0.217% cheaper against Bulk than usual: you would sell low and buy high (−$22 if the spread goes back to its 7-day average of +0.007%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bulk BTC-USD	86,703.1	0.0100	pay 0.0013% / 1h	33m 34s	$573.0M	$18.8M	40x
Short	RISEx BTC/USDC	86,521.1	0.0006	get 0.0001% / 1h	33m 34s	$8.5M	$43.2M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

RISEx against Bulk. 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 BulkbpFee RISExbpOrdersPrice spread, now −0.210%Rate

Funding earned: −$19.7
Price spread: −0.210% → +0.007%: −$21.73
Slippage, 4 orders: −$1.88
Fee Bulk: 3.5 bp × 2 orders: −$7
Fee RISEx: 3 bp × 2 orders: −$6
Net: −$56.3
Costs to cover: 0.149%
Break-even: never at this rate

Slippage from Bulk: live order book, 1 min ago; RISEx: live order book, 1 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 Bulk live order book, 1 min ago	0.27 bp	3.8 bp −$4	3.8 bp −$38	3.8 bp −$377	5.1 bp −$2,539
Sell RISEx live order book, 1 min ago	0.66 bp	3.7 bp −$4	3.7 bp −$37	11.7 bp −$1,173	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-PERP	−0.0612%	1h	86,511.6	−0.221%	$140K	$618K	40x	as long as short
Phoenix BTC	−0.0159%	1h	86,627	−0.088%	$2.2M	$11.8M	40x	as long as short
Aftermath Perps BTCUSD	−0.0120%	1h	86,599	−0.120%	$83K	$216K	20x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	86,509	−0.224%	$9K	$3K	50x	as long as short
Aster BTCUSDT	−0.0010%	8h	86,501.2	−0.233%	$504.8M	$1.15B	200x	as long as short
dYdX BTC-USD	−0.0010%	1h	86,530.8	−0.199%	$17.1M	$20.7M	50x	as long as short
01 Exchange BTCUSD	−0.0008%	1h	86,531.3	−0.198%	$358K	$2.4M	50x	as long as short
KuCoin XBTUSDTM	0.0000%	8h	86,513.2	−0.219%	$851.2M	$708.6M	125x	as long as short
Perpl BTC	0.0000%	43m	86,522.6	−0.208%	$419K	$23.8M	6.7x	as long as short
Deribit BTC-PERPETUAL	0.0000%	1h	86,532.3	−0.197%	$923.2M	$1.47B	50x	as long as short

Show all 56 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
gTrade (Gains Network) BTC/USD	L +0.0005% / S −0.0004%	1h	86,513.7	−0.218%	$36.8M	—	200x	as long as short
RISEx BTC/USDCshort	+0.0006%	1h	86,521.1	−0.210%	$8.5M	$43.2M	25x
Reya BTCRUSDPERP	+0.0022%	1h	86,444.9	−0.298%	$6.7M	$144.9M	40x	as long as short
Injective BTC/USDC PERP	+0.0024%	1h	86,559	−0.166%	$315K	$26.8M	52x	as long as short
Phemex BTCUSDT	+0.0032%	8h	86,494.8	−0.240%	$149.9M	$475.7M	150x	as long as short
BingX BTC-USDT	+0.0034%	8h	86,519.2	−0.212%	—	$1.59B	—	as long as short
Bitget BTCUSDT	+0.0043%	8h	86,518.6	−0.213%	$2.95B	$5.08B	150x	as long as short
Hibachi BTC/USDT-P	+0.0048%	1h	86,562.5	−0.162%	$729K	$8.2M	30x	as long as short
MEXC BTC_USDT	+0.0060%	8h	86,517.7	−0.214%	$5.17B	$5.65B	500x	as long as short
Binance BTCUSDT	+0.0060%	8h	86,515.4	−0.216%	$9.42B	$24.32B	150x	as long as short
Aevo BTC-PERP	+0.0064%	1h	86,482	−0.255%	$2.4M	$1.3M	20x	as long as short
Gate BTC_USDT	+0.0074%	8h	86,516.7	−0.215%	$5.85B	$10.66B	200x	as long as short
Bybit BTCUSDT	+0.0089%	8h	86,509.9	−0.223%	$5.27B	$9.71B	150x	as long as short
SoDEX BTC-USD	+0.0095%	1h	86,495	−0.240%	$60.5M	$337.1M	40x	as long as short
Lighter BTC	+0.0096%	1h	86,524.7	−0.206%	$171.5M	$1.00B	50x	as long as short
Lighter RH BTC	+0.0096%	1h	86,531.8	−0.198%	$24.1M	$151.9M	50x	as long as short
Popdex BTCUSDT	+0.0096%	1h	86,519	−0.212%	$8.5M	$52.2M	100x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	86,503	−0.231%	$201K	$6.9M	50x	as long as short
Paradex BTC-USD-PERP	+0.0100%	8h	86,550.6	−0.176%	$4.8M	$8.4M	50x	as long as short
Nado BTC-PERP	+0.0100%	1h	86,495.2	−0.240%	$21.8M	$233.4M	50x	as long as short
Hyperliquid BTC	+0.0100%	1h	86,601	−0.118%	$3.81B	$5.09B	40x	as long as short
Pacifica BTC	+0.0100%	1h	86,547.5	−0.179%	$41.1M	$505.2M	50x	as long as short
OKX BTC-USDT-SWAP	+0.0100%	8h	86,507.9	−0.225%	$2.54B	$12.69B	100x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	86,514	−0.218%	$3.9M	$18.6M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	86,587.8	−0.133%	$7.4M	$93.8M	40x	as long as short
Bulk BTC-USDlong	+0.0100%	1h	86,703.1	long leg	$573.0M	$18.8M	40x
Backpack BTC_USDC_PERP	+0.0100%	1h	86,491	−0.245%	$38.4M	$153.2M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	86,541.3	−0.187%	$156.5M	$566.0M	—	as long as short
edgeX BTCUSDC	+0.0100%	4h	86,509.2	−0.224%	$279.5M	$944.8M	100x	as long as short
GRVT BTC_USDT_Perp	+0.0100%	8h	86,543.9	−0.184%	$217.3M	$174.1M	50x	as long as short
ApeX Omni BTCUSDT	+0.0100%	1h	86,543.1	−0.184%	$141.5M	$323.1M	100x	as long as short
StandX BTC-USD	+0.0100%	1h	86,563.2	−0.161%	$30.7M	$203.4M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	86,530.5	−0.199%	—	$11.6M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	86,467	−0.272%	$11.1M	$13.6M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	86,463.4	−0.276%	$191K	$3.3M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	86,497.6	−0.237%	$2.4M	$8.6M	100x	as long as short
Derive BTC-PERP	+0.0100%	1h	86,490.6	−0.245%	$30.0M	$61.6M	15x	as long as short
SunX BTC-USDT	+0.0100%	8h	86,510.7	−0.222%	$3.4M	$5.4M	100x	as long as short
HTX BTC-USDT	+0.0100%	8h	86,474.5	−0.264%	$2.30B	$965.0M	200x	as long as short
Extended BTC-USD	+0.0104%	1h	86,501.9	−0.232%	$46.4M	$225.4M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0048%	1h	86,526.2	−0.204%	—	$98.2M	500x	as long as short
Coinbase International BTC-PERP-INTX	+0.0112%	1h	86,543	−0.185%	$131.7M	$5.70B	50x	as long as short
Kraken Futures PF_XBTUSD	+0.0121%	1h	86,531.7	−0.198%	$191.2M	$937.6M	100x	as long as short
BloFin BTC-USDT	+0.0181%	8h	86,533.4	−0.196%	$414.3M	$651.5M	150x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0182% / S −0.0216%	1h	86,505	−0.228%	$15.4M	—	200x	as long as short
Kalshi KXBTCPERP	+0.0195%	8h	86,522	−0.209%	$9.6M	$728.9M	6.4x	as long as short