BTC

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0128%/8h= −14.0% APRnext payment −$0.16 per $10,000 · paid last 24h −0.042%

Price spread now: 01 Exchange against Coinbase International−0.045%7-day average −0.026% · 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−$20as in the Price arb table

costs, in and out, $10k−$180.182% of the position

Long on Coinbase International Short on 01 Exchange

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.107%−$11 on $10k

Price spread, last 3 days (all we have)+0.040%+$4 · spread now −0.045%, 7d avg −0.026%

Together, before fees−0.067%−$7 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.026%, so right now this pair is about funding alone: −$4 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International BTC-PERP-INTX	86,545.4	0.0112	pay 0.0014% / 1h	5m 29s	$132.1M	$5.64B	50x
Short	01 Exchange BTCUSD	86,506.8	−0.0016	pay 0.0002% / 1h	5m 29s	$360K	$2.4M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

01 Exchange against Coinbase International. 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 Coinbase InternationalbpFee 01 ExchangebpOrdersPrice spread, now −0.045%Rate

Funding earned: −$26.88
Price spread: −0.045% → −0.026%: −$1.9
Slippage, 4 orders: −$1.2
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee 01 Exchange: 3.5 bp × 2 orders: −$7
Net: −$46.98
Costs to cover: 0.182%
Break-even: never at this rate

Slippage from Coinbase International: live order book, 4 min ago; 01 Exchange: 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 Coinbase International live order book, 4 min ago	0.01 bp	5.0 bp −$5	5.0 bp −$50	5.6 bp −$561	13.2 bp −$6,582
Sell 01 Exchange live order book, 4 min ago	0.01 bp	4.1 bp −$4	9.7 bp −$97	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
Phoenix BTC	−0.0118%	1h	86,444	−0.117%	$2.2M	$11.8M	40x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	86,486	−0.069%	$9K	$3K	50x	as long as short
Injective BTC/USDC PERP	−0.0035%	1h	86,345	−0.232%	$332K	$26.9M	52x	as long as short
RISEx BTC/USDC	−0.0024%	1h	86,507.4	−0.044%	$8.3M	$42.7M	25x	as long as short
01 Exchange BTCUSDshort	−0.0016%	1h	86,506.8	−0.045%	$360K	$2.4M	50x
Perpl BTC	0.0000%	43m	86,504.2	−0.048%	$412K	$22.5M	6.7x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0005% / S −0.0005%	1h	86,510.6	−0.040%	$36.8M	—	200x	as long as short
Aster BTCUSDT	+0.0012%	8h	86,497.8	−0.055%	$501.7M	$1.15B	200x	as long as short
KuCoin XBTUSDTM	+0.0023%	8h	86,503.6	−0.048%	$834.3M	$728.4M	125x	as long as short
Reya BTCRUSDPERP	+0.0037%	1h	86,496.4	−0.057%	$6.7M	$145.5M	40x	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	+0.0044%	8h	86,492.4	−0.061%	—	$1.59B	—	as long as short
Phemex BTCUSDT	+0.0056%	8h	86,503.6	−0.048%	$151.5M	$478.8M	150x	as long as short
Bitget BTCUSDT	+0.0056%	8h	86,496.4	−0.057%	$2.97B	$5.12B	150x	as long as short
dYdX BTC-USD	+0.0063%	1h	86,506.6	−0.045%	$16.9M	$21.2M	50x	as long as short
Aevo BTC-PERP	+0.0072%	1h	86,482.4	−0.073%	$2.5M	$1.4M	20x	as long as short
MEXC BTC_USDT	+0.0074%	8h	86,494.9	−0.058%	$5.15B	$5.69B	500x	as long as short
Binance BTCUSDT	+0.0075%	8h	86,495	−0.058%	$9.44B	$24.54B	150x	as long as short
Gate BTC_USDT	+0.0081%	8h	86,491	−0.063%	$5.85B	$10.82B	200x	as long as short
Lighter BTC	+0.0096%	1h	86,503.2	−0.049%	$169.9M	$1.02B	50x	as long as short
Lighter RH BTC	+0.0096%	1h	86,512.7	−0.038%	$23.8M	$153.2M	50x	as long as short
Popdex BTCUSDT	+0.0096%	1h	86,495	−0.058%	$8.5M	$52.3M	100x	as long as short
Bybit BTCUSDT	+0.0099%	8h	86,495.2	−0.058%	$5.26B	$9.79B	150x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	86,478	−0.078%	$196K	$7.1M	50x	as long as short
Paradex BTC-USD-PERP	+0.0100%	8h	86,529.5	−0.018%	$4.8M	$8.5M	50x	as long as short
Nado BTC-PERP	+0.0100%	1h	86,512.9	−0.038%	$21.7M	$233.8M	50x	as long as short
Hyperliquid BTC	+0.0100%	1h	86,573	+0.032%	$3.80B	$5.10B	40x	as long as short
Pacifica BTC	+0.0100%	1h	86,525.9	−0.023%	$41.1M	$538.1M	50x	as long as short
OKX BTC-USDT-SWAP	+0.0100%	8h	86,513	−0.037%	$2.55B	$12.74B	100x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	86,502	−0.050%	$3.9M	$18.4M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	86,524.8	−0.024%	$7.2M	$96.2M	40x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	86,499.4	−0.053%	$38.0M	$156.2M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	86,474	−0.083%	$157.6M	$567.5M	—	as long as short
edgeX BTCUSDC	+0.0100%	4h	86,494.6	−0.059%	$279.4M	$947.7M	100x	as long as short
GRVT BTC_USDT_Perp	+0.0100%	8h	86,461.1	−0.097%	$217.1M	$172.4M	50x	as long as short
ApeX Omni BTCUSDT	+0.0100%	1h	86,505.5	−0.046%	$141.8M	$323.3M	100x	as long as short
StandX BTC-USD	+0.0100%	1h	86,504	−0.048%	$30.7M	$207.1M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	86,544	−0.002%	—	$11.9M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	86,493	−0.061%	$11.1M	$13.9M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	86,495.3	−0.058%	$192K	$3.3M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	86,492.6	−0.061%	$2.5M	$9.3M	100x	as long as short
Bluefin BTC-PERP	+0.0100%	1h	86,527	−0.021%	$141K	$663K	40x	as long as short
Derive BTC-PERP	+0.0100%	1h	86,521.9	−0.027%	$30.5M	$62.6M	15x	as long as short
SunX BTC-USDT	+0.0100%	8h	86,482.5	−0.073%	$3.4M	$5.3M	100x	as long as short
SoDEX BTC-USD	+0.0100%	1h	86,494	−0.059%	$60.5M	$338.1M	40x	as long as short
HTX BTC-USDT	+0.0100%	8h	86,492.4	−0.061%	$2.30B	$968.3M	200x	as long as short
Bulk BTC-USD	+0.0100%	1h	86,452.9	−0.107%	$572.2M	$12.3M	40x	as long as short
Extended BTC-USD	+0.0104%	1h	86,478.1	−0.078%	$45.8M	$225.4M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0048%	1h	86,555	+0.011%	—	$100.0M	500x	as long as short
Kraken Futures PF_XBTUSD	+0.0110%	1h	86,534	−0.013%	$193.0M	$953.1M	100x	as long as short
Coinbase International BTC-PERP-INTXlong	+0.0112%	1h	86,545.4	long leg	$132.1M	$5.64B	50x
Aftermath Perps BTCUSD	+0.0160%	1h	86,510.1	−0.041%	$78K	$219K	20x	as long as short
Hibachi BTC/USDT-P	+0.0184%	1h	86,528.1	−0.020%	$717K	$8.1M	30x	as long as short
BloFin BTC-USDT	+0.0194%	8h	86,523.4	−0.025%	$415.5M	$659.2M	150x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0200% / S −0.0224%	1h	86,505.4	−0.046%	$15.0M	—	200x	as long as short
Kalshi KXBTCPERP	+0.0208%	8h	86,546	+0.001%	$10.2M	$753.6M	6.4x	as long as short
Deribit BTC-PERPETUAL	+0.0268%	1h	86,550	+0.005%	$913.1M	$1.49B	50x	as long as short