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Funding arb · Price arb /

BTC

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Alert: funding
Measured
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Alert: spread
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Funding you earn now, next payment 22:00 UTC+0.0022%/8h= +2.4% APRpaid last 24h +0.002%
Price spread now: Polymarket Perps against Bybit−0.010%7-day average −0.011% · you buy dearer than you sell
Net, funding: paid 7d − costs−$12as in the Funding arb table
Net, price: spread back to 7d avg − costs−$19as in the Price arb table
costs, in and out, $10k−$190.193% of the position
Long on BybitShort on Polymarket Perps
What this pair did over the last
the charts below follow
Funding, last 7 days+0.072%+$7 on $10k
Price spread, last 7 days+0.013%+$1 · spread now −0.010%, 7d avg −0.011%
Together, before fees+0.085%+$8 on $10k · with fees, hour by hour
The price spread sits at its 7-day average of −0.011%, so right now this pair is about funding alone: +$1 a day on $10k at the current rate.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongBybit BTCUSDT86,5710.0078pay 0.0078% / 8h2h 44m$5.28B$9.66B150x
ShortPolymarket Perps BTC-USD86,5620.0100get 0.0013% / 1h44m 16s$11.0M$13.7M50x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Polymarket Perps 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

Funding earned
$4.7
Price spread: −0.010% → −0.011%
$0.08
Slippage, 4 orders
−$0.29
Fee Bybit: 5.5 bp × 2 orders
−$11
Fee Polymarket Perps: 4 bp × 2 orders
−$8
Net
−$14.51
Costs to cover
0.193%
Break-even
28.6 days
Slippage from Bybit: live order book, 5 min ago; Polymarket Perps: live order book, 5 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy Bybit live order book, 5 min ago0.01 bp5.5 bp −$65.5 bp −$556.6 bp −$6637.6 bp −$3,794
Sell Polymarket Perps live order book, 5 min ago0.06 bp4.2 bp −$44.9 bp −$497.2 bp −$723doesn't fit

BTC on 56 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Perpl BTC−0.0335%43m86,584.3+0.015%$431K$25.1M6.7xas long as short
Aftermath Perps BTCUSD−0.0215%1h86,631.2+0.070%$85K$188K20xas long as short
dYdX BTC-USD−0.0109%1h86,607.2+0.042%$18.0M$20.0M50xas long as short
Phoenix BTC−0.0103%1h86,591+0.023%$2.2M$12.4M40xas long as short
Hotstuff BTC-PERP−0.0080%1h86,559−0.014%$9K$3K50xas long as short
KuCoin XBTUSDTM−0.0002%8h86,557.5−0.016%$845.6M$707.9M125xas long as short
01 Exchange BTCUSD0.0000%1h86,593.4+0.026%$361K$2.4M50xas long as short
Deribit BTC-PERPETUAL0.0000%1h86,576.3+0.006%$937.8M$1.43B50xas long as short
gTrade (Gains Network) BTC/USDL +0.0005% / S −0.0005%1h86,579.7+0.010%$36.6M—200xas long as short
Aster BTCUSDT+0.0010%8h86,558.6−0.014%$505.3M$1.16B200xas long as short
Show all 56 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Reya BTCRUSDPERP+0.0021%1h86,549.4−0.025%$6.7M$144.0M40xas long as short
BingX BTC-USDC+0.0021%8h86,546.7−0.028%—$15.3M—as long as short
Bitget BTCUSDT+0.0027%8h86,531.9−0.045%$2.94B$5.07B150xas long as short
Phemex BTCUSDT+0.0027%8h86,571.9+0.001%$149.4M$470.6M150xas long as short
MEXC BTC_USDT+0.0048%8h86,558.9−0.014%$5.18B$5.64B500xas long as short
Aevo BTC-PERP+0.0048%1h86,538.9−0.037%$2.4M$1.3M20xas long as short
Binance BTCUSDT+0.0049%8h86,570−0.001%$9.43B$24.29B150xas long as short
Injective BTC/USDC PERP+0.0049%1h86,732+0.186%$315K$26.8M52xas long as short
RISEx BTC/USDC+0.0063%1h86,577.9+0.008%$9.2M$42.1M25xas long as short
OKX BTC-USDT-SWAP+0.0063%8h86,586.2+0.018%$2.57B$12.69B100xas long as short
Gate BTC_USDT+0.0066%8h86,558.4−0.015%$5.85B$10.59B200xas long as short
Bybit BTCUSDTlong+0.0078%8h86,571long leg$5.28B$9.66B150x
Variational Omni BTC+0.0089%8h86,618.2+0.055%$160.7M$567.1M—as long as short
Lighter BTC+0.0096%1h86,574.7+0.004%$172.0M$1.01B50xas long as short
Lighter RH BTC+0.0096%1h86,569.1−0.002%$24.0M$152.9M50xas long as short
Popdex BTCUSDT+0.0096%1h86,559−0.014%$8.5M$52.0M100xas long as short
GRVT BTC_USDT_Perp+0.0098%8h86,607.9+0.043%$217.4M$189.0M50xas long as short
Paradex BTC-USD-PERP+0.0100%8h86,602.6+0.036%$4.8M$8.2M50xas long as short
Katana Perps BTC-USD+0.0100%8h86,558−0.015%$199K$6.8M50xas long as short
SoDEX BTC-USD+0.0100%1h86,540−0.036%$60.4M$336.5M40xas long as short
Orderly PERP_BTC_USDC+0.0100%8h86,553.3−0.020%$2.5M$8.5M100xas long as short
Nado BTC-PERP+0.0100%1h86,554.1−0.020%$21.7M$235.7M50xas long as short
Hyperliquid BTC+0.0100%1h86,636+0.075%$3.83B$5.11B40xas long as short
Pacifica BTC+0.0100%1h86,595.3+0.028%$40.9M$485.8M50xas long as short
Ondo Perps BTC-USD.P+0.0100%1h86,558−0.015%$3.9M$18.6M25xas long as short
Arcus BTC-USD+0.0100%1h86,637.7+0.077%$7.4M$94.2M40xas long as short
Bulk BTC-USD+0.0100%1h86,665+0.109%$572.2M$23.5M40xas long as short
Backpack BTC_USDC_PERP+0.0100%1h86,566.8−0.005%$38.1M$148.2M75xas long as short
edgeX BTCUSDC+0.0100%4h86,605.1+0.039%$279.8M$948.5M100xas long as short
ApeX Omni BTCUSDT+0.0100%1h86,599.3+0.033%$141.5M$322.7M100xas long as short
StandX BTC-USD+0.0100%1h86,606.9+0.041%$30.8M$205.8M40xas long as short
Vest BTC-PERP+0.0100%1h86,627.5+0.065%—$11.6M50xas long as short
Polymarket Perps BTC-USDshort+0.0100%1h86,562−0.010%$11.0M$13.7M50x
Bullet BTC-USD+0.0100%1h86,558.5−0.014%$197K$3.4M20xas long as short
Bluefin BTC-PERP+0.0100%1h86,562.1−0.010%$140K$619K40xas long as short
Derive BTC-PERP+0.0100%1h86,548.6−0.026%$30.0M$61.5M15xas long as short
SunX BTC-USDT+0.0100%8h86,558.3−0.015%$3.4M$5.6M100xas long as short
HTX BTC-USDT+0.0100%8h86,547.6−0.027%$2.30B$956.7M200xas long as short
Extended BTC-USD+0.0104%1h86,524.7−0.053%$46.5M$229.0M50xas long as short
Jupiter Perps WBTC-PERPL +0.0104% / S +0.0048%1h86,585.5+0.017%—$98.0M500xas long as short
Kalshi KXBTCPERP+0.0115%8h86,588+0.020%$8.9M$723.3M6.4xas long as short
Kraken Futures PF_XBTUSD+0.0117%1h86,578.5+0.009%$190.6M$928.5M100xas long as short
Coinbase International BTC-PERP-INTX+0.0120%1h86,590.5+0.023%$131.7M$5.87B50xas long as short
BloFin BTC-USDT+0.0169%8h86,567.5−0.004%$418.5M$641.8M150xas long as short
GMX BTC/USD [WBTC.b-USDC]L +0.0178% / S −0.0181%1h86,576.1+0.006%$14.7M—200xas long as short
Hibachi BTC/USDT-P+0.0216%1h86,604.1+0.038%$600K$7.2M30xas long as short