Funding you earn now, next payment 06:00 UTC−0.0108%/8h= −11.8% APRnext payment −$0.13 per $10,000 · paid last 24h −0.061%
Price spread now: dYdX against Deribit−0.060%7-day average −0.038% · you buy dearer than you sell
Net, funding: paid 7d − costs−$39as in the Funding arb table
Net, price: spread back to 7d avg − costs−$27as in the Price arb table
costs, in and out, $10k−$250.249% of the position
Funding, last 7 days−0.140%−$14 on $10k
+Price spread, last 4 days (all we have)+0.035%+$3 · spread now −0.060%, 7d avg −0.038%
=Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and dYdX is 0.022% cheaper against Deribit than usual: you would sell low and buy high (−$2 if the spread goes back to its 7-day average of −0.038%). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Deribit BTC-PERPETUAL | 85,348.4 | 0.0109 | pay 0.0014% / 1h | 20m 10s | $866.9M | $1.61B | 50x |
| Short | dYdX BTC-USD | 85,297 | 0.0001 | get 0.0000% / 1h | 20m 10s | $16.7M | $21.4M | 50x |
Deribit BTC-PERPETUAL
dYdX BTC-USDFunding history
latest
Range statsloading…
Price spread between the two exchanges
dYdX 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
- −$22.67
- Price spread: −0.060% → −0.038%
- −$2.25
- Slippage, 4 orders
- −$7.95
- Fee Deribit: 3.5 bp × 2 orders
- −$7
- Fee dYdX: 5 bp × 2 orders
- −$10
- Net
- −$49.87
- Costs to cover
- 0.249%
- Break-even
- never at this rate
Slippage from Deribit: live order book, 4 min ago; dYdX: 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 Deribit live order book, 4 min ago | 0.26 bp | 3.8 bp −$4 | 4.2 bp −$42 | 6.5 bp −$651 | 10.6 bp −$5,305 |
| Sell dYdX live order book, 4 min ago | 3.64 bp | 8.6 bp −$9 | 13.3 bp −$133 | 17.5 bp −$1,753 | 31.6 bp −$15.8K |
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 | −0.0112% | 43m | 85,298.5 | −0.058% | $527K | $18.4M | 6.7x | as long as short |
| Phoenix BTC | −0.0111% | 1h | 85,134 | −0.251% | $2.1M | $10.4M | 40x | as long as short |
| Hotstuff BTC-PERP | −0.0080% | 1h | 85,313 | −0.041% | $8K | $3K | 50x | as long as short |
| KuCoin XBTUSDTM | −0.0054% | 8h | 85,293.2 | −0.065% | $923.2M | $764.7M | 125x | as long as short |
| BloFin BTC-USDT | −0.0034% | 8h | 85,226.9 | −0.142% | $419.4M | $680.0M | 150x | as long as short |
| 01 Exchange BTCUSD | −0.0016% | 1h | 85,304.5 | −0.051% | $354K | $2.4M | 50x | as long as short |
| Aster BTCUSDT | −0.0015% | 8h | 85,299.3 | −0.057% | $512.5M | $1.09B | 200x | as long as short |
| dYdX BTC-USDshort | +0.0001% | 1h | 85,297 | −0.060% | $16.7M | $21.4M | 50x | |
| gTrade (Gains Network) BTC/USD | L +0.0004% / S −0.0004% | 1h | 85,302.2 | −0.054% | $36.4M | — | 200x | as long as short |
| Injective BTC/USDC PERP | +0.0023% | 1h | 85,225 | −0.145% | $338K | $26.8M | 52x | as long as short |
Perpl BTC
Phoenix BTC
Hotstuff BTC-PERP
KuCoin XBTUSDTM
BloFin BTC-USDT
01 Exchange BTCUSD
Aster BTCUSDT
gTrade (Gains Network) BTC/USD
Injective BTC/USDC PERPShow all 56 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Nado BTC-PERP | +0.0036% | 1h | 85,281.6 | −0.078% | $24.8M | $222.4M | 50x | as long as short |
| Kraken Futures PF_XBTUSD | +0.0056% | 1h | 85,321.4 | −0.032% | $187.6M | $954.1M | 100x | as long as short |
| BingX BTC-USDC | +0.0068% | 8h | 85,278.1 | −0.082% | — | $17.4M | — | as long as short |
| Phemex BTCUSDT | +0.0074% | 8h | 85,308.6 | −0.047% | $147.5M | $505.3M | 150x | as long as short |
| Aevo BTC-PERP | +0.0080% | 1h | 85,299.1 | −0.058% | $2.4M | $6.7M | 20x | as long as short |
| Bitget BTCUSDT | +0.0085% | 8h | 85,300.3 | −0.056% | $2.95B | $5.16B | 150x | as long as short |
| MEXC BTC_USDT | +0.0086% | 8h | 85,312.9 | −0.042% | $5.05B | $5.73B | 500x | as long as short |
| Binance BTCUSDT | +0.0086% | 8h | 85,313.7 | −0.041% | $9.43B | $24.83B | 150x | as long as short |
| Lighter BTC | +0.0096% | 1h | 85,317.9 | −0.036% | $171.1M | $1.02B | 50x | as long as short |
| Lighter RH BTC | +0.0096% | 1h | 85,322.6 | −0.030% | $23.7M | $148.7M | 50x | as long as short |
| Popdex BTCUSDT | +0.0096% | 1h | 85,296 | −0.061% | $8.3M | $55.8M | 100x | as long as short |
| Coinbase International BTC-PERP-INTX | +0.0096% | 1h | 85,340.9 | −0.009% | $116.9M | $5.40B | 50x | as long as short |
| Katana Perps BTC-USD | +0.0100% | 8h | 85,268 | −0.094% | $238K | $8.6M | 50x | as long as short |
| Paradex BTC-USD-PERP | +0.0100% | 8h | 85,350.5 | +0.002% | $5.8M | $9.6M | 50x | as long as short |
| Hyperliquid BTC | +0.0100% | 1h | 85,369 | +0.024% | $3.75B | $5.07B | 40x | as long as short |
| Pacifica BTC | +0.0100% | 1h | 85,311.6 | −0.043% | $40.2M | $599.0M | 50x | as long as short |
| Bybit BTCUSDT | +0.0100% | 8h | 85,305.5 | −0.050% | $5.14B | $9.94B | 150x | as long as short |
| OKX BTC-USDT-SWAP | +0.0100% | 8h | 85,313.8 | −0.041% | $2.58B | $12.19B | 100x | as long as short |
| Ondo Perps BTC-USD.P | +0.0100% | 1h | 85,299 | −0.058% | $3.8M | $17.6M | 25x | as long as short |
| Arcus BTC-USD | +0.0100% | 1h | 85,296.6 | −0.061% | $4.6M | $99.1M | 40x | as long as short |
| Bulk BTC-USD | +0.0100% | 1h | 85,163.7 | −0.216% | $678.5M | $565.0M | 40x | as long as short |
| Gate BTC_USDT | +0.0100% | 8h | 85,292 | −0.066% | $5.51B | $11.01B | 200x | as long as short |
| Backpack BTC_USDC_PERP | +0.0100% | 1h | 85,223.2 | −0.147% | $36.3M | $176.2M | 75x | as long as short |
| Variational Omni BTC | +0.0100% | 8h | 85,218.8 | −0.152% | $154.2M | $561.4M | — | as long as short |
| edgeX BTCUSDC | +0.0100% | 4h | 85,112.3 | −0.277% | $279.0M | $947.4M | 100x | as long as short |
| GRVT BTC_USDT_Perp | +0.0100% | 8h | 85,107.4 | −0.282% | $213.8M | $166.1M | 50x | as long as short |
| ApeX Omni BTCUSDT | +0.0100% | 1h | 85,093.4 | −0.299% | $139.1M | $315.0M | 100x | as long as short |
| StandX BTC-USD | +0.0100% | 1h | 85,277.8 | −0.083% | $30.1M | $207.2M | 40x | as long as short |
| Vest BTC-PERP | +0.0100% | 1h | 85,350.4 | +0.002% | — | $10.9M | 50x | as long as short |
| Polymarket Perps BTC-USD | +0.0100% | 1h | 85,290 | −0.068% | $11.0M | $14.4M | 50x | as long as short |
| Bullet BTC-USD | +0.0100% | 1h | 85,290.6 | −0.068% | $205K | $3.3M | 20x | as long as short |
| Orderly PERP_BTC_USDC | +0.0100% | 8h | 85,306.8 | −0.049% | $2.6M | $9.6M | 100x | as long as short |
| Bluefin BTC-PERP | +0.0100% | 1h | 85,348.2 | 0.000% | $228K | $760K | 40x | as long as short |
| Derive BTC-PERP | +0.0100% | 1h | 85,279.7 | −0.080% | $30.0M | $48.0M | 15x | as long as short |
| SunX BTC-USDT | +0.0100% | 8h | 85,283 | −0.077% | $2.9M | $6.1M | 100x | as long as short |
| SoDEX BTC-USD | +0.0100% | 1h | 85,310 | −0.045% | $59.7M | $336.2M | 40x | as long as short |
| HTX BTC-USDT | +0.0100% | 8h | 85,299 | −0.058% | $2.26B | $942.2M | 200x | as long as short |
| Extended BTC-USD | +0.0104% | 1h | 85,273.1 | −0.088% | $45.1M | $239.4M | 50x | as long as short |
| Jupiter Perps WBTC-PERP | L +0.0104% / S +0.0048% | 1h | 85,298.2 | −0.059% | — | $106.9M | 500x | as long as short |
| Deribit BTC-PERPETUALlong | +0.0109% | 1h | 85,348.4 | long leg | $866.9M | $1.61B | 50x | |
| Reya BTCRUSDPERP | +0.0116% | 1h | 85,285.8 | −0.073% | $6.6M | $147.4M | 40x | as long as short |
| GMX BTC/USD [WBTC.b-USDC] | L +0.0176% / S −0.0151% | 1h | 85,295.1 | −0.062% | $13.0M | — | 200x | as long as short |
| Kalshi KXBTCPERP | +0.0183% | 8h | 85,304 | −0.052% | $11.5M | $743.5M | 6.4x | as long as short |
| Aftermath Perps BTCUSD | +0.0225% | 1h | 85,223.3 | −0.147% | $78K | $227K | 20x | as long as short |
| Hibachi BTC/USDT-P | +0.0232% | 1h | 85,232.1 | −0.136% | $688K | $8.0M | 30x | as long as short |
| RISEx BTC/USDC | +0.0257% | 1h | 85,317.8 | −0.036% | $8.7M | $43.2M | 25x | as long as short |
Nado BTC-PERP
Kraken Futures PF_XBTUSD
BingX BTC-USDC
Phemex BTCUSDT
Aevo BTC-PERP
Bitget BTCUSDT
MEXC BTC_USDT
Binance BTCUSDT
Lighter BTC
Lighter RH BTC
Popdex BTCUSDT
Coinbase International BTC-PERP-INTX
Katana Perps BTC-USD
Paradex BTC-USD-PERP
Hyperliquid BTC
Pacifica BTC
Bybit BTCUSDT
OKX BTC-USDT-SWAP
Ondo Perps BTC-USD.P
Arcus BTC-USD
Bulk BTC-USD
Gate BTC_USDT
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
Bluefin BTC-PERP
Derive BTC-PERP
SunX BTC-USDT
SoDEX BTC-USD
HTX BTC-USDT
Extended BTC-USD
Jupiter Perps WBTC-PERP
Reya BTCRUSDPERP
GMX BTC/USD [WBTC.b-USDC]
Kalshi KXBTCPERP
Aftermath Perps BTCUSD
Hibachi BTC/USDT-P
RISEx BTC/USDC