BTC

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0032%/8h= −3.5% APRnext payment −$0.32 per $10,000 · paid last 24h −0.009%

Price spread now: Binance against Bybit−0.003%7-day average +0.001% · you buy dearer than you sell

Net, funding: paid 7d − costs−$20as in the Funding arb table

Net, price: spread back to 7d avg − costs−$21as in the Price arb table

costs, in and out, $10k−$210.210% of the position

Long on Bybit Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days+0.013%+$1 on $10k

Price spread, last 7 days+0.008%+$1 · spread now −0.003%, 7d avg +0.001%

Together, before fees+0.022%+$2 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.001%, so right now this pair is about funding alone: −$1 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit BTCUSDT	86,965.7	0.0078	pay 0.0078% / 8h	3h 16m	$5.32B	$9.70B	150x
Short	Binance BTCUSDT	86,963	0.0046	get 0.0046% / 8h	3h 16m	$9.49B	$24.29B	150x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Bybit. 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 BybitbpFee BinancebpOrdersPrice spread, now −0.003%Rate

Funding earned: −$6.74
Price spread: −0.003% → +0.001%: −$0.37
Slippage, 4 orders: −$0.02
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Binance: 5 bp × 2 orders: −$10
Net: −$28.13
Costs to cover: 0.210%
Break-even: never at this rate

Slippage from Bybit: live order book, 3 min ago; Binance: live order book, 13 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 Bybit live order book, 3 min ago	0.01 bp	5.5 bp −$6	5.5 bp −$55	5.5 bp −$551	6.5 bp −$3,229
Sell Binance live order book, 13 min ago	0.01 bp	5.0 bp −$5	5.0 bp −$50	6.2 bp −$623	7.6 bp −$3,817

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
Perpl BTC	−0.0335%	43m	86,957.8	−0.009%	$434K	$25.9M	6.7x	as long as short
Phoenix BTC	−0.0123%	1h	86,888	−0.089%	$2.2M	$12.0M	40x	as long as short
dYdX BTC-USD	−0.0113%	1h	86,960.2	−0.006%	$18.1M	$20.0M	50x	as long as short
Aftermath Perps BTCUSD	−0.0107%	1h	86,960.9	−0.005%	$85K	$193K	20x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	86,880	−0.099%	$9K	$3K	50x	as long as short
01 Exchange BTCUSD	−0.0016%	1h	86,967.2	+0.002%	$365K	$2.5M	50x	as long as short
KuCoin XBTUSDTM	−0.0005%	8h	86,956.7	−0.010%	$843.0M	$706.3M	125x	as long as short
Kalshi KXBTCPERP	0.0000%	8h	86,987	+0.024%	$9.4M	$722.3M	6.4x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0005% / S −0.0004%	1h	86,963.9	−0.002%	$36.8M	—	200x	as long as short
RISEx BTC/USDC	+0.0010%	1h	86,986.2	+0.024%	$8.9M	$41.7M	25x	as long as short

Show all 56 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX BTC-USDT	+0.0014%	8h	86,954.1	−0.013%	—	$1.58B	—	as long as short
Reya BTCRUSDPERP	+0.0018%	1h	86,940.8	−0.029%	$6.8M	$142.5M	40x	as long as short
Bitget BTCUSDT	+0.0019%	8h	86,957	−0.010%	$2.96B	$5.10B	150x	as long as short
Phemex BTCUSDT	+0.0020%	8h	86,968.7	+0.003%	$151.1M	$463.6M	150x	as long as short
Aster BTCUSDT	+0.0026%	8h	86,961.4	−0.005%	$506.9M	$1.16B	200x	as long as short
ApeX Omni BTCUSDT	+0.0033%	1h	86,897.5	−0.078%	$142.2M	$322.7M	100x	as long as short
Injective BTC/USDC PERP	+0.0035%	1h	87,347	+0.438%	$312K	$26.9M	52x	as long as short
Kraken Futures PF_XBTUSD	+0.0041%	1h	87,006.2	+0.047%	$196.5M	$924.6M	100x	as long as short
MEXC BTC_USDT	+0.0045%	8h	86,966.1	0.000%	$5.23B	$5.59B	500x	as long as short
Binance BTCUSDTshort	+0.0046%	8h	86,963	−0.003%	$9.49B	$24.29B	150x
OKX BTC-USDT-SWAP	+0.0047%	8h	86,971.2	+0.006%	$2.61B	$12.74B	100x	as long as short
Aevo BTC-PERP	+0.0048%	1h	86,955	−0.012%	$2.4M	$1.3M	20x	as long as short
Gate BTC_USDT	+0.0060%	8h	86,962.6	−0.004%	$5.90B	$10.65B	200x	as long as short
SoDEX BTC-USD	+0.0065%	1h	86,952	−0.016%	$60.9M	$336.4M	40x	as long as short
Bybit BTCUSDTlong	+0.0078%	8h	86,965.7	long leg	$5.32B	$9.70B	150x
Variational Omni BTC	+0.0089%	8h	87,006.8	+0.047%	$161.3M	$556.5M	—	as long as short
GRVT BTC_USDT_Perp	+0.0094%	8h	86,881.2	−0.097%	$218.2M	$188.3M	50x	as long as short
Orderly PERP_BTC_USDC	+0.0094%	8h	86,973.8	+0.009%	$2.4M	$8.3M	100x	as long as short
Bluefin BTC-PERP	+0.0096%	1h	86,944.6	−0.024%	$160K	$574K	40x	as long as short
Lighter BTC	+0.0096%	1h	86,983.3	+0.020%	$173.6M	$1.01B	50x	as long as short
Lighter RH BTC	+0.0096%	1h	86,981.2	+0.018%	$24.3M	$150.6M	50x	as long as short
Popdex BTCUSDT	+0.0096%	1h	86,947	−0.022%	$8.5M	$52.1M	100x	as long as short
Paradex BTC-USD-PERP	+0.0099%	8h	86,992.3	+0.031%	$4.8M	$8.1M	50x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	86,941	−0.028%	$196K	$6.7M	50x	as long as short
Nado BTC-PERP	+0.0100%	1h	86,930.5	−0.041%	$23.2M	$236.8M	50x	as long as short
Pacifica BTC	+0.0100%	1h	86,961.4	−0.005%	$37.7M	$475.5M	50x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	86,970	+0.005%	$4.0M	$18.8M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	87,015	+0.057%	$7.7M	$94.9M	40x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	86,978.2	+0.014%	$38.6M	$144.7M	75x	as long as short
edgeX BTCUSDC	+0.0100%	4h	86,918.5	−0.054%	$286.8M	$934.1M	100x	as long as short
StandX BTC-USD	+0.0100%	1h	86,921.9	−0.050%	$30.9M	$207.2M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	86,987.8	+0.025%	—	$11.6M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	86,948	−0.020%	$11.1M	$13.8M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	86,972.9	+0.008%	$208K	$3.4M	20x	as long as short
Derive BTC-PERP	+0.0100%	1h	86,963.1	−0.003%	$30.1M	$61.1M	15x	as long as short
SunX BTC-USDT	+0.0100%	8h	86,879.3	−0.099%	$3.4M	$5.7M	100x	as long as short
HTX BTC-USDT	+0.0100%	8h	86,968.2	+0.003%	$2.31B	$953.3M	200x	as long as short
Bulk BTC-USD	+0.0100%	1h	86,971.4	+0.007%	$573.9M	$25.0M	40x	as long as short
Extended BTC-USD	+0.0104%	1h	86,943.9	−0.025%	$46.7M	$230.1M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0048%	1h	86,930.9	−0.040%	—	$97.9M	500x	as long as short
Deribit BTC-PERPETUAL	+0.0111%	1h	87,014.6	+0.056%	$936.5M	$1.34B	50x	as long as short
Coinbase International BTC-PERP-INTX	+0.0136%	1h	87,006.8	+0.047%	$132.1M	$5.99B	50x	as long as short
Hibachi BTC/USDT-P	+0.0160%	1h	86,964.6	−0.001%	$750K	$7.1M	30x	as long as short
BloFin BTC-USDT	+0.0165%	8h	86,876.1	−0.103%	$419.5M	$642.4M	150x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0180% / S −0.0202%	1h	86,959.7	−0.007%	$15.3M	—	200x	as long as short
Hyperliquid BTC	+0.0197%	1h	87,029	+0.073%	$3.89B	$5.09B	40x	as long as short