BTC

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0108%/8h= −11.8% APRnext payment −$0.14 per $10,000 · paid last 24h −0.032%

Price spread now: 01 Exchange against Bullet+0.043%7-day average −0.010% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$13as in the Price arb table

costs, in and out, $10k−$180.178% of the position

Long on Bullet Short on 01 Exchange

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.079%−$8 on $10k

Price spread, last 7 days−0.033%−$3 · spread now +0.043%, 7d avg −0.010%

Together, before fees−0.112%−$11 on $10k · with fees, hour by hour

The price spread pays, funding is against you. 01 Exchange is 0.053% dearer against Bullet than usual: you sell high and buy low (spread +0.043% now, against its 7-day average of −0.010%): +$5 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 40 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bullet BTC-USD	86,515	0.0100	pay 0.0013% / 1h	36m 29s	$193K	$3.3M	20x
Short	01 Exchange BTCUSD	86,552.6	−0.0008	pay 0.0001% / 1h	36m 29s	$359K	$2.4M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

01 Exchange against Bullet. 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 BulletbpFee 01 ExchangebpOrdersPrice spread, now +0.043%Rate

Funding earned: −$22.68
Price spread: +0.043% → −0.010%: $5.33
Slippage, 4 orders: −$2.84
Fee Bullet: 4 bp × 2 orders: −$8
Fee 01 Exchange: 3.5 bp × 2 orders: −$7
Net: −$35.19
Costs to cover: 0.178%
Break-even: never at this rate

Slippage from Bullet: live order book, 3 min ago; 01 Exchange: live order book, 3 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, 3 min ago	0.06 bp	5.3 bp −$5	8.1 bp −$81	doesn't fit	doesn't fit
Sell 01 Exchange live order book, 3 min ago	0.01 bp	3.6 bp −$4	8.4 bp −$84	doesn't fit	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	−0.0753%	1h	86,588	+0.084%	$140K	$618K	40x	as long as short
Phoenix BTC	−0.0159%	1h	86,627	+0.129%	$2.2M	$11.8M	40x	as long as short
Aftermath Perps BTCUSD	−0.0142%	1h	86,633.1	+0.136%	$83K	$216K	20x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	86,572	+0.066%	$9K	$3K	50x	as long as short
dYdX BTC-USD	−0.0011%	1h	86,577	+0.072%	$17.5M	$20.3M	50x	as long as short
01 Exchange BTCUSDshort	−0.0008%	1h	86,552.6	+0.043%	$359K	$2.4M	50x
Aster BTCUSDT	−0.0008%	8h	86,516.5	+0.002%	$504.9M	$1.15B	200x	as long as short
Perpl BTC	0.0000%	43m	86,562.9	+0.055%	$418K	$23.9M	6.7x	as long as short
Deribit BTC-PERPETUAL	0.0000%	1h	86,602.6	+0.101%	$925.1M	$1.47B	50x	as long as short
KuCoin XBTUSDTM	+0.0001%	8h	86,528.8	+0.016%	$851.7M	$708.1M	125x	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	86,537.5	+0.026%	$36.8M	—	200x	as long as short
RISEx BTC/USDC	+0.0006%	1h	86,541.6	+0.031%	$8.6M	$43.2M	25x	as long as short
Reya BTCRUSDPERP	+0.0022%	1h	86,502.3	−0.015%	$6.7M	$144.8M	40x	as long as short
Injective BTC/USDC PERP	+0.0024%	1h	86,559	+0.051%	$315K	$26.8M	52x	as long as short
Phemex BTCUSDT	+0.0029%	8h	86,570.1	+0.064%	$150.3M	$473.7M	150x	as long as short
BingX BTC-USDC	+0.0032%	8h	86,492.5	−0.026%	—	$15.3M	—	as long as short
Hibachi BTC/USDT-P	+0.0040%	1h	86,622	+0.124%	$730K	$8.2M	30x	as long as short
Bitget BTCUSDT	+0.0042%	8h	86,512.8	−0.003%	$2.95B	$5.07B	150x	as long as short
Binance BTCUSDT	+0.0061%	8h	86,507.9	−0.008%	$9.41B	$24.31B	150x	as long as short
MEXC BTC_USDT	+0.0061%	8h	86,509.8	−0.006%	$5.18B	$5.65B	500x	as long as short
Aevo BTC-PERP	+0.0064%	1h	86,565.9	+0.059%	$2.4M	$1.3M	20x	as long as short
Gate BTC_USDT	+0.0076%	8h	86,512	−0.003%	$5.85B	$10.65B	200x	as long as short
Bybit BTCUSDT	+0.0090%	8h	86,515.8	+0.001%	$5.27B	$9.70B	150x	as long as short
Lighter BTC	+0.0096%	1h	86,562	+0.054%	$171.7M	$1.00B	50x	as long as short
Lighter RH BTC	+0.0096%	1h	86,577.9	+0.073%	$24.1M	$151.8M	50x	as long as short
Popdex BTCUSDT	+0.0096%	1h	86,531	+0.018%	$8.5M	$52.2M	100x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	86,522	+0.008%	$204K	$6.9M	50x	as long as short
Paradex BTC-USD-PERP	+0.0100%	8h	86,577.1	+0.072%	$4.7M	$8.4M	50x	as long as short
Nado BTC-PERP	+0.0100%	1h	86,553.6	+0.045%	$21.8M	$233.4M	50x	as long as short
Hyperliquid BTC	+0.0100%	1h	86,590	+0.087%	$3.81B	$5.08B	40x	as long as short
Pacifica BTC	+0.0100%	1h	86,586	+0.082%	$41.1M	$505.2M	50x	as long as short
OKX BTC-USDT-SWAP	+0.0100%	8h	86,511.6	−0.004%	$2.55B	$12.68B	100x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	86,539	+0.028%	$3.9M	$18.6M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	86,616.5	+0.117%	$7.4M	$93.7M	40x	as long as short
Bulk BTC-USD	+0.0100%	1h	86,703.1	+0.217%	$573.0M	$18.8M	40x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	86,570.7	+0.064%	$38.4M	$153.2M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	86,696.3	+0.210%	$156.8M	$565.9M	—	as long as short
edgeX BTCUSDC	+0.0100%	4h	86,636.2	+0.140%	$280.0M	$943.9M	100x	as long as short
GRVT BTC_USDT_Perp	+0.0100%	8h	86,641.8	+0.147%	$217.4M	$174.1M	50x	as long as short
ApeX Omni BTCUSDT	+0.0100%	1h	86,642.9	+0.148%	$141.6M	$323.1M	100x	as long as short
StandX BTC-USD	+0.0100%	1h	86,628.7	+0.131%	$30.7M	$203.4M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	86,586.2	+0.082%	—	$11.6M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	86,524	+0.010%	$11.1M	$13.6M	50x	as long as short
Bullet BTC-USDlong	+0.0100%	1h	86,515	long leg	$193K	$3.3M	20x
Orderly PERP_BTC_USDC	+0.0100%	8h	86,521.1	+0.007%	$2.4M	$8.6M	100x	as long as short
Derive BTC-PERP	+0.0100%	1h	86,570.8	+0.064%	$30.0M	$61.6M	15x	as long as short
SunX BTC-USDT	+0.0100%	8h	86,620.2	+0.122%	$3.4M	$5.4M	100x	as long as short
SoDEX BTC-USD	+0.0100%	1h	86,568	+0.061%	$60.5M	$337.0M	40x	as long as short
HTX BTC-USDT	+0.0100%	8h	86,566.6	+0.060%	$2.30B	$964.2M	200x	as long as short
Extended BTC-USD	+0.0104%	1h	86,527.3	+0.014%	$46.4M	$225.3M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0048%	1h	86,577.3	+0.072%	—	$98.2M	500x	as long as short
Coinbase International BTC-PERP-INTX	+0.0112%	1h	86,611.6	+0.112%	$131.7M	$5.71B	50x	as long as short
Kraken Futures PF_XBTUSD	+0.0121%	1h	86,601.7	+0.100%	$191.6M	$937.0M	100x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0180% / S −0.0208%	1h	86,527.9	+0.015%	$15.1M	—	200x	as long as short
BloFin BTC-USDT	+0.0182%	8h	86,570	+0.064%	$414.5M	$651.5M	150x	as long as short
Kalshi KXBTCPERP	+0.0194%	8h	86,624	+0.126%	$9.7M	$728.0M	6.4x	as long as short