Funding you earn now, next payment 09:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.016%
Price spread now: Phemex against Bullet−0.002%7-day average −0.003% · 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−$22as in the Price arb table
costs, in and out, $10k−$220.223% of the position
Funding, last 4 days (all we have)−0.027%−$3 on $10k
+Price spread, last 4 days (all we have)−0.069%−$7 · spread now −0.002%, 7d avg −0.003%
=| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Bullet BTC-USD | 86,074.6 | 0.0100 | pay 0.0013% / 1h | 15m 34s | $211K | $3.3M | 20x |
| Short | Phemex BTCUSDT | 86,072.8 | 0.0100 | get 0.0100% / 8h | 7h 15m | $167.2M | $500.6M | 150x |
Bullet BTC-USD
Phemex BTCUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phemex against Bullet. 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: −0.002% → −0.003%
- $0.12
- Slippage, 4 orders
- −$2.27
- Fee Bullet: 4 bp × 2 orders
- −$8
- Fee Phemex: 6 bp × 2 orders
- −$12
- Net
- −$22.15
- Costs to cover
- 0.223%
- Break-even
- never at this rate
Slippage from Bullet: live order book, 4 min ago; Phemex: 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 Bullet live order book, 4 min ago | 0.06 bp | 5.5 bp −$5 | 8.4 bp −$84 | doesn't fit | doesn't fit |
| Sell Phemex live order book, 4 min ago | 0.01 bp | 6.0 bp −$6 | 6.6 bp −$66 | 8.4 bp −$840 | 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 | −0.0549% | 1h | 86,121.7 | +0.055% | $195K | $684K | 40x | as long as short |
| Hotstuff BTC-PERP | −0.0080% | 1h | 86,031 | −0.051% | $8K | $2K | 50x | as long as short |
| BloFin BTC-USDT | −0.0020% | 8h | 85,950 | −0.145% | $424.0M | $623.5M | 150x | as long as short |
| 01 Exchange BTCUSD | −0.0008% | 1h | 86,006 | −0.080% | $355K | $2.1M | 50x | as long as short |
| Injective BTC/USDC PERP | −0.0006% | 1h | 85,924 | −0.175% | $308K | $26.8M | 52x | as long as short |
| gTrade (Gains Network) BTC/USD | L +0.0004% / S −0.0004% | 1h | 85,960 | −0.133% | $36.8M | — | 200x | as long as short |
| KuCoin XBTUSDTM | +0.0026% | 8h | 86,054.2 | −0.024% | $924.1M | $681.2M | 125x | as long as short |
| dYdX BTC-USD | +0.0043% | 1h | 86,043.4 | −0.036% | $16.8M | $19.5M | 50x | as long as short |
| Aster BTCUSDT | +0.0043% | 8h | 86,007.5 | −0.078% | $506.2M | $994.3M | 200x | as long as short |
| Kraken Futures PF_XBTUSD | +0.0068% | 1h | 86,088.9 | +0.017% | $188.5M | $874.1M | 100x | as long as short |
Bluefin BTC-PERP
Hotstuff BTC-PERP
BloFin BTC-USDT
01 Exchange BTCUSD
Injective BTC/USDC PERP
gTrade (Gains Network) BTC/USD
KuCoin XBTUSDTM
dYdX BTC-USD
Aster BTCUSDT
Kraken Futures PF_XBTUSDShow all 56 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Phoenix BTC | +0.0075% | 1h | 85,933 | −0.164% | $2.3M | $10.4M | 40x | as long as short |
| BingX BTC-USDC | +0.0080% | 8h | 85,990.4 | −0.098% | — | $17.1M | — | as long as short |
| Bybit BTCUSDT | +0.0083% | 8h | 85,986 | −0.103% | $5.11B | $9.18B | 150x | as long as short |
| Nado BTC-PERP | +0.0087% | 1h | 85,987.5 | −0.101% | $22.2M | $209.9M | 50x | as long as short |
| Lighter BTC | +0.0096% | 1h | 86,070.3 | −0.005% | $173.1M | $960.4M | 50x | as long as short |
| Lighter RH BTC | +0.0096% | 1h | 86,043.1 | −0.037% | $23.2M | $136.7M | 50x | as long as short |
| Popdex BTCUSDT | +0.0096% | 1h | 86,003 | −0.083% | $8.7M | $52.3M | 100x | as long as short |
| Aevo BTC-PERP | +0.0096% | 1h | 86,068.5 | −0.007% | $2.4M | $6.7M | 20x | as long as short |
| Katana Perps BTC-USD | +0.0100% | 8h | 85,988 | −0.101% | $215K | $8.3M | 50x | as long as short |
| Paradex BTC-USD-PERP | +0.0100% | 8h | 86,098.6 | +0.028% | $5.9M | $9.0M | 50x | as long as short |
| Pacifica BTC | +0.0100% | 1h | 86,066 | −0.010% | $40.5M | $591.1M | 50x | as long as short |
| Binance BTCUSDT | +0.0100% | 8h | 86,002.3 | −0.084% | $9.43B | $23.18B | 150x | as long as short |
| OKX BTC-USDT-SWAP | +0.0100% | 8h | 85,988.1 | −0.100% | $2.60B | $10.84B | 100x | as long as short |
| Ondo Perps BTC-USD.P | +0.0100% | 1h | 86,013 | −0.072% | $3.9M | $16.4M | 25x | as long as short |
| Arcus BTC-USD | +0.0100% | 1h | 86,024.1 | −0.059% | $4.6M | $95.3M | 40x | as long as short |
| Gate BTC_USDT | +0.0100% | 8h | 86,018.9 | −0.065% | $5.49B | $10.11B | 200x | as long as short |
| MEXC BTC_USDT | +0.0100% | 8h | 86,022.2 | −0.061% | $5.09B | $5.84B | 500x | as long as short |
| Bitget BTCUSDT | +0.0100% | 8h | 86,012 | −0.073% | $2.99B | $4.60B | 150x | as long as short |
| Backpack BTC_USDC_PERP | +0.0100% | 1h | 86,044.3 | −0.035% | $37.9M | $187.4M | 75x | as long as short |
| Variational Omni BTC | +0.0100% | 8h | 86,046.3 | −0.033% | $156.9M | $515.9M | — | as long as short |
| edgeX BTCUSDC | +0.0100% | 4h | 85,898.8 | −0.204% | $287.3M | $974.3M | 100x | as long as short |
| GRVT BTC_USDT_Perp | +0.0100% | 8h | 85,846.1 | −0.265% | $215.6M | $155.7M | 50x | as long as short |
| ApeX Omni BTCUSDT | +0.0100% | 1h | 85,913.6 | −0.187% | $137.1M | $302.5M | 100x | as long as short |
| StandX BTC-USD | +0.0100% | 1h | 85,905.6 | −0.196% | $30.3M | $214.5M | 40x | as long as short |
| Vest BTC-PERP | +0.0100% | 1h | 86,091.9 | +0.020% | — | $9.8M | 50x | as long as short |
| Polymarket Perps BTC-USD | +0.0100% | 1h | 86,057 | −0.020% | $11.0M | $13.7M | 50x | as long as short |
| Bullet BTC-USDlong | +0.0100% | 1h | 86,074.6 | long leg | $211K | $3.3M | 20x | |
| Orderly PERP_BTC_USDC | +0.0100% | 8h | 86,066.5 | −0.009% | $2.6M | $9.4M | 100x | as long as short |
| Derive BTC-PERP | +0.0100% | 1h | 85,444.6 | −0.732% | $28.8M | $52.4M | 15x | as long as short |
| SunX BTC-USDT | +0.0100% | 8h | 85,971.6 | −0.120% | $3.1M | $7.0M | 100x | as long as short |
| SoDEX BTC-USD | +0.0100% | 1h | 86,064 | −0.012% | $60.2M | $258.0M | 40x | as long as short |
| HTX BTC-USDT | +0.0100% | 8h | 86,065 | −0.011% | $2.27B | $916.0M | 200x | as long as short |
| Phemex BTCUSDTshort | +0.0100% | 8h | 86,072.8 | −0.002% | $167.2M | $500.6M | 150x | |
| Bulk BTC-USD | +0.0100% | 1h | 85,869.6 | −0.238% | $707.4M | $169.5M | 40x | as long as short |
| Extended BTC-USD | +0.0104% | 1h | 85,981.5 | −0.108% | $46.4M | $223.8M | 50x | as long as short |
| Jupiter Perps WBTC-PERP | L +0.0104% / S +0.0056% | 1h | 85,990.2 | −0.098% | — | $94.3M | 500x | as long as short |
| Coinbase International BTC-PERP-INTX | +0.0112% | 1h | 86,111 | +0.042% | $112.7M | $5.33B | 50x | as long as short |
| Reya BTCRUSDPERP | +0.0152% | 1h | 85,897.3 | −0.206% | $6.6M | $134.6M | 40x | as long as short |
| Deribit BTC-PERPETUAL | +0.0153% | 1h | 86,112.8 | +0.044% | $830.1M | $1.61B | 50x | as long as short |
| Hyperliquid BTC | +0.0155% | 1h | 86,132 | +0.067% | $3.88B | $4.77B | 40x | as long as short |
| Kalshi KXBTCPERP | +0.0189% | 8h | 86,009 | −0.076% | $11.0M | $726.7M | 6.4x | as long as short |
| RISEx BTC/USDC | +0.0194% | 1h | 86,029.5 | −0.052% | $9.0M | $40.9M | 25x | as long as short |
| GMX BTC/USD [WBTC.b-USDC] | L +0.0198% / S −0.0174% | 1h | 85,957.3 | −0.136% | $13.0M | — | 200x | as long as short |
| Hibachi BTC/USDT-P | +0.0328% | 1h | 85,948 | −0.147% | $698K | $7.4M | 30x | as long as short |
| Aftermath Perps BTCUSD | +0.0363% | 1h | 85,841.8 | −0.270% | $81K | $256K | 20x | as long as short |
| Perpl BTC | +0.0447% | 43m | 85,922.7 | −0.176% | $481K | $17.0M | 6.7x | as long as short |
Phoenix BTC
BingX BTC-USDC
Bybit BTCUSDT
Nado BTC-PERP
Lighter BTC
Lighter RH BTC
Popdex BTCUSDT
Aevo BTC-PERP
Katana Perps BTC-USD
Paradex BTC-USD-PERP
Pacifica BTC
Binance BTCUSDT
OKX BTC-USDT-SWAP
Ondo Perps BTC-USD.P
Arcus BTC-USD
Gate BTC_USDT
MEXC BTC_USDT
Bitget BTCUSDT
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
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
Coinbase International BTC-PERP-INTX
Reya BTCRUSDPERP
Deribit BTC-PERPETUAL
Hyperliquid BTC
Kalshi KXBTCPERP
RISEx BTC/USDC
GMX BTC/USD [WBTC.b-USDC]
Hibachi BTC/USDT-P
Aftermath Perps BTCUSD
Perpl BTC