Funding you earn now, next payment 23:00 UTC+0.0088%/8h= +9.6% APRnext payment +$0.11 per $10,000 · paid last 24h −0.040%
Price spread now: Arcus against Deribit+0.035%7-day average −0.031% · 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−$6as in the Price arb table
costs, in and out, $10k−$120.125% of the position
Funding, last 3 days (all we have)−0.023%−$2 on $10k
+Price spread, last 3 days (all we have)−0.011%−$1 · spread now +0.035%, 7d avg −0.031%
=Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and Arcus is 0.066% dearer against Deribit than usual: you sell high and buy low: +$7 more if the spread goes back to its 7-day average of −0.031%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Deribit BTC-PERPETUAL | 86,388.6 | 0.0012 | pay 0.0002% / 1h | 12m 58s | $917.8M | $1.49B | 50x |
| Short | Arcus BTC-USD | 86,419 | 0.0100 | get 0.0013% / 1h | 12m 58s | $7.8M | $94.8M | 40x |
Deribit BTC-PERPETUAL
Arcus BTC-USDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Arcus against Deribit. 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
- $18.4
- Price spread: +0.035% → −0.031%
- $6.57
- Slippage, 4 orders
- −$0.98
- Fee Deribit: 3.5 bp × 2 orders
- −$7
- Fee Arcus: 2.25 bp × 2 orders
- −$4.5
- Net
- $12.49
- Costs to cover
- 0.125%
- Break-even
- 2.2 days
Slippage from Deribit: live order book, 1 min ago; Arcus: live order book, 1 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 Deribit live order book, 1 min ago | 0.03 bp | 3.5 bp −$4 | 3.8 bp −$38 | 6.5 bp −$651 | 12.1 bp −$6,045 |
| Sell Arcus live order book, 1 min ago | 0.01 bp | 3.1 bp −$3 | 4.0 bp −$40 | 5.1 bp −$511 | 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 | −0.0681% | 1h | 86,371.4 | −0.020% | $140K | $620K | 40x | as long as short |
| Phoenix BTC | −0.0159% | 1h | 86,402 | +0.015% | $2.2M | $11.8M | 40x | as long as short |
| Hotstuff BTC-PERP | −0.0080% | 1h | 86,361 | −0.032% | $9K | $3K | 50x | as long as short |
| 01 Exchange BTCUSD | −0.0016% | 1h | 86,365.8 | −0.026% | $360K | $2.4M | 50x | as long as short |
| Aster BTCUSDT | −0.0011% | 8h | 86,345.9 | −0.049% | $503.2M | $1.15B | 200x | as long as short |
| KuCoin XBTUSDTM | +0.0003% | 8h | 86,347.2 | −0.048% | $850.8M | $712.2M | 125x | as long as short |
| dYdX BTC-USD | +0.0005% | 1h | 86,406.9 | +0.021% | $17.0M | $21.1M | 50x | as long as short |
| gTrade (Gains Network) BTC/USD | L +0.0005% / S −0.0004% | 1h | 86,369.7 | −0.022% | $36.8M | — | 200x | as long as short |
| RISEx BTC/USDC | +0.0006% | 1h | 86,365.4 | −0.027% | $8.4M | $42.8M | 25x | as long as short |
| Deribit BTC-PERPETUALlong | +0.0012% | 1h | 86,388.6 | long leg | $917.8M | $1.49B | 50x |
Bluefin BTC-PERP
Phoenix BTC
Hotstuff BTC-PERP
01 Exchange BTCUSD
Aster BTCUSDT
KuCoin XBTUSDTM
dYdX BTC-USD
gTrade (Gains Network) BTC/USD
RISEx BTC/USDCShow all 56 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Reya BTCRUSDPERP | +0.0023% | 1h | 86,338.4 | −0.058% | $6.7M | $145.0M | 40x | as long as short |
| Injective BTC/USDC PERP | +0.0024% | 1h | 86,360 | −0.033% | $332K | $26.8M | 52x | as long as short |
| Aftermath Perps BTCUSD | +0.0033% | 1h | 86,441 | +0.061% | $81K | $218K | 20x | as long as short |
| BingX BTC-USDC | +0.0036% | 8h | 86,333 | −0.064% | — | $15.3M | — | as long as short |
| Phemex BTCUSDT | +0.0040% | 8h | 86,357.5 | −0.036% | $150.0M | $476.9M | 150x | as long as short |
| Bitget BTCUSDT | +0.0046% | 8h | 86,352.8 | −0.041% | $2.95B | $5.10B | 150x | as long as short |
| Binance BTCUSDT | +0.0064% | 8h | 86,350.4 | −0.044% | $9.42B | $24.44B | 150x | as long as short |
| MEXC BTC_USDT | +0.0064% | 8h | 86,350.9 | −0.044% | $5.14B | $5.70B | 500x | as long as short |
| Aevo BTC-PERP | +0.0064% | 1h | 86,340.1 | −0.056% | $2.4M | $1.3M | 20x | as long as short |
| Gate BTC_USDT | +0.0079% | 8h | 86,352.1 | −0.042% | $5.84B | $10.75B | 200x | as long as short |
| Bybit BTCUSDT | +0.0093% | 8h | 86,353.1 | −0.041% | $5.25B | $9.78B | 150x | as long as short |
| Lighter BTC | +0.0096% | 1h | 86,365.6 | −0.027% | $170.5M | $1.01B | 50x | as long as short |
| Lighter RH BTC | +0.0096% | 1h | 86,377.5 | −0.013% | $24.1M | $152.5M | 50x | as long as short |
| Popdex BTCUSDT | +0.0096% | 1h | 86,352 | −0.042% | $8.4M | $52.4M | 100x | as long as short |
| Katana Perps BTC-USD | +0.0100% | 8h | 86,339 | −0.057% | $201K | $6.9M | 50x | as long as short |
| Paradex BTC-USD-PERP | +0.0100% | 8h | 86,399.2 | +0.012% | $4.8M | $8.5M | 50x | as long as short |
| Nado BTC-PERP | +0.0100% | 1h | 86,365.8 | −0.026% | $21.7M | $234.5M | 50x | as long as short |
| Hyperliquid BTC | +0.0100% | 1h | 86,422 | +0.039% | $3.80B | $5.10B | 40x | as long as short |
| Pacifica BTC | +0.0100% | 1h | 86,400.2 | +0.013% | $40.7M | $513.8M | 50x | as long as short |
| OKX BTC-USDT-SWAP | +0.0100% | 8h | 86,357.7 | −0.036% | $2.53B | $12.71B | 100x | as long as short |
| Ondo Perps BTC-USD.P | +0.0100% | 1h | 86,365 | −0.027% | $3.9M | $18.6M | 25x | as long as short |
| Arcus BTC-USDshort | +0.0100% | 1h | 86,419 | +0.035% | $7.8M | $94.8M | 40x | |
| Bulk BTC-USD | +0.0100% | 1h | 86,498.7 | +0.127% | $571.7M | $18.6M | 40x | as long as short |
| Backpack BTC_USDC_PERP | +0.0100% | 1h | 86,348.3 | −0.047% | $37.8M | $155.0M | 75x | as long as short |
| Variational Omni BTC | +0.0100% | 8h | 86,394.8 | +0.007% | $155.5M | $568.5M | — | as long as short |
| edgeX BTCUSDC | +0.0100% | 4h | 86,426.9 | +0.044% | $279.3M | $949.8M | 100x | as long as short |
| GRVT BTC_USDT_Perp | +0.0100% | 8h | 86,418.2 | +0.034% | $217.1M | $176.0M | 50x | as long as short |
| ApeX Omni BTCUSDT | +0.0100% | 1h | 86,418.4 | +0.034% | $141.3M | $323.7M | 100x | as long as short |
| StandX BTC-USD | +0.0100% | 1h | 86,380 | −0.010% | $30.7M | $203.8M | 40x | as long as short |
| Vest BTC-PERP | +0.0100% | 1h | 86,406.9 | +0.021% | — | $11.6M | 50x | as long as short |
| Polymarket Perps BTC-USD | +0.0100% | 1h | 86,350 | −0.045% | $11.1M | $13.8M | 50x | as long as short |
| Bullet BTC-USD | +0.0100% | 1h | 86,352 | −0.042% | $190K | $3.4M | 20x | as long as short |
| Orderly PERP_BTC_USDC | +0.0100% | 8h | 86,352.5 | −0.042% | $2.4M | $8.7M | 100x | as long as short |
| Derive BTC-PERP | +0.0100% | 1h | 86,360.3 | −0.033% | $30.6M | $62.2M | 15x | as long as short |
| SunX BTC-USDT | +0.0100% | 8h | 86,339.2 | −0.057% | $3.4M | $5.4M | 100x | as long as short |
| SoDEX BTC-USD | +0.0100% | 1h | 86,350 | −0.045% | $60.4M | $337.3M | 40x | as long as short |
| HTX BTC-USDT | +0.0100% | 8h | 86,346.4 | −0.049% | $2.29B | $968.6M | 200x | as long as short |
| Extended BTC-USD | +0.0104% | 1h | 86,335.9 | −0.061% | $45.5M | $226.2M | 50x | as long as short |
| Hibachi BTC/USDT-P | +0.0104% | 1h | 86,421.2 | +0.038% | $719K | $8.1M | 30x | as long as short |
| Jupiter Perps WBTC-PERP | L +0.0104% / S +0.0048% | 1h | 86,375.5 | −0.015% | — | $98.8M | 500x | as long as short |
| Perpl BTC | +0.0112% | 43m | 86,388.4 | 0.000% | $421K | $23.6M | 6.7x | as long as short |
| Coinbase International BTC-PERP-INTX | +0.0112% | 1h | 86,398.9 | +0.012% | $131.3M | $5.69B | 50x | as long as short |
| Kraken Futures PF_XBTUSD | +0.0121% | 1h | 86,382.6 | −0.007% | $191.1M | $944.0M | 100x | as long as short |
| BloFin BTC-USDT | +0.0184% | 8h | 86,353.7 | −0.040% | $414.2M | $653.5M | 150x | as long as short |
| GMX BTC/USD [WBTC.b-USDC] | L +0.0186% / S −0.0213% | 1h | 86,360.5 | −0.033% | $15.2M | — | 200x | as long as short |
| Kalshi KXBTCPERP | +0.0199% | 8h | 86,393 | +0.005% | $9.8M | $734.7M | 6.4x | as long as short |
Reya BTCRUSDPERP
Injective BTC/USDC PERP
Aftermath Perps BTCUSD
BingX BTC-USDC
Phemex BTCUSDT
Bitget BTCUSDT
Binance BTCUSDT
MEXC BTC_USDT
Aevo BTC-PERP
Gate BTC_USDT
Bybit BTCUSDT
Lighter BTC
Lighter RH BTC
Popdex BTCUSDT
Katana Perps BTC-USD
Paradex BTC-USD-PERP
Nado BTC-PERP
Hyperliquid BTC
Pacifica BTC
OKX BTC-USDT-SWAP
Ondo Perps BTC-USD.P
Bulk BTC-USD
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
Bullet BTC-USD
Orderly PERP_BTC_USDC
Derive BTC-PERP
SunX BTC-USDT
SoDEX BTC-USD
HTX BTC-USDT
Extended BTC-USD
Hibachi BTC/USDT-P
Jupiter Perps WBTC-PERP
Perpl BTC
Coinbase International BTC-PERP-INTX
Kraken Futures PF_XBTUSD
BloFin BTC-USDT
GMX BTC/USD [WBTC.b-USDC]
Kalshi KXBTCPERP