Settings8H · net · $10k
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Funding arb · Price arb /

BTC

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Alert: funding
Measured
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Checked every minute; it has to hold two checks in a row. Delivery to Telegram comes later, so for now alerts appear on the alerts page.

Alert: spread
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Checked every minute; it has to hold two checks in a row. Delivery to Telegram comes later, so for now alerts appear on the alerts page.

Funding you earn now, next payment 22:00 UTC+0.0100%/8h= +10.9% APRnext payment +$0.13 per $10,000 · paid last 24h −0.030%
Price spread now: Polymarket Perps against Deribit−0.022%7-day average −0.048% · you buy dearer than you sell
Net, funding: paid 7d − costs−$11as in the Funding arb table
Net, price: spread back to 7d avg − costs−$13as in the Price arb table
costs, in and out, $10k−$160.156% of the position
Long on DeribitShort on Polymarket Perps
What this pair did over the last
the charts below follow
Funding, last 7 days+0.048%+$5 on $10k
Price spread, last 3 days (all we have)+0.023%+$2 · spread now −0.022%, 7d avg −0.048%
Together, before fees+0.071%+$7 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and Polymarket Perps is 0.026% dearer against Deribit than usual: you sell high and buy low: +$3 more if the spread goes back to its 7-day average of −0.048%.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongDeribit BTC-PERPETUAL86,644.80get 0.0000% / 1h34m 42s$935.8M$1.43B50x
ShortPolymarket Perps BTC-USD86,6260.0100get 0.0013% / 1h34m 42s$11.1M$13.7M50x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Polymarket Perps against Deribit. 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
$21
Price spread: −0.022% → −0.048%
$2.59
Slippage, 4 orders
−$0.58
Fee Deribit: 3.5 bp × 2 orders
−$7
Fee Polymarket Perps: 4 bp × 2 orders
−$8
Net
$8.01
Costs to cover
0.156%
Break-even
4.3 days
Slippage from Deribit: 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 Deribit live order book, 5 min ago0.03 bp3.5 bp −$43.5 bp −$356.8 bp −$68212.3 bp −$6,136
Sell Polymarket Perps live order book, 5 min ago0.06 bp4.5 bp −$45.8 bp −$587.7 bp −$774doesn'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
Aftermath Perps BTCUSD−0.0227%1h86,609.6−0.041%$85K$188K20xas long as short
Perpl BTC−0.0223%43m86,627.7−0.020%$428K$25.0M6.7xas long as short
Phoenix BTC−0.0103%1h86,539−0.122%$2.2M$12.4M40xas long as short
dYdX BTC-USD−0.0085%1h86,671.7+0.031%$17.6M$20.6M50xas long as short
Hotstuff BTC-PERP−0.0080%1h86,648+0.004%$9K$3K50xas long as short
01 Exchange BTCUSD0.0000%1h86,659.3+0.017%$361K$2.4M50xas long as short
Deribit BTC-PERPETUALlong0.0000%1h86,644.8long leg$935.8M$1.43B50x
KuCoin XBTUSDTM+0.0001%8h86,651.5+0.008%$844.8M$704.5M125xas long as short
gTrade (Gains Network) BTC/USDL +0.0005% / S −0.0005%1h86,635−0.011%$36.6M—200xas long as short
Aster BTCUSDT+0.0008%8h86,644.50.000%$505.9M$1.16B200xas long as short
Show all 56 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Reya BTCRUSDPERP+0.0021%1h86,617.9−0.031%$6.7M$144.3M40xas long as short
BingX BTC-USDT+0.0022%8h86,658.7+0.016%—$1.59B—as long as short
Phemex BTCUSDT+0.0026%8h86,623.8−0.024%$149.5M$471.0M150xas long as short
Bitget BTCUSDT+0.0029%8h86,657.1+0.014%$2.95B$5.07B150xas long as short
Aevo BTC-PERP+0.0048%1h86,610.8−0.039%$2.4M$1.3M20xas long as short
Injective BTC/USDC PERP+0.0049%1h86,732+0.101%$315K$26.8M52xas long as short
MEXC BTC_USDT+0.0052%8h86,659.1+0.016%$5.19B$5.67B500xas long as short
Binance BTCUSDT+0.0053%8h86,659.1+0.016%$9.44B$24.30B150xas long as short
RISEx BTC/USDC+0.0063%1h86,656.8+0.014%$9.2M$42.0M25xas long as short
OKX BTC-USDT-SWAP+0.0070%8h86,664.2+0.022%$2.57B$12.70B100xas long as short
Gate BTC_USDT+0.0073%8h86,660+0.018%$5.86B$10.63B200xas long as short
Bybit BTCUSDT+0.0081%8h86,660.9+0.019%$5.28B$9.67B150xas long as short
Variational Omni BTC+0.0092%8h86,584.3−0.070%$160.0M$567.1M—as long as short
Lighter BTC+0.0096%1h86,666.1+0.025%$172.2M$1.01B50xas long as short
Lighter RH BTC+0.0096%1h86,672.1+0.031%$24.0M$153.5M50xas long as short
Popdex BTCUSDT+0.0096%1h86,639−0.007%$8.5M$52.1M100xas long as short
Paradex BTC-USD-PERP+0.0100%8h86,707.5+0.072%$4.8M$8.2M50xas long as short
Katana Perps BTC-USD+0.0100%8h86,635−0.011%$195K$6.8M50xas long as short
Nado BTC-PERP+0.0100%1h86,595−0.058%$21.6M$235.4M50xas long as short
Hyperliquid BTC+0.0100%1h86,717+0.083%$3.82B$5.12B40xas long as short
Pacifica BTC+0.0100%1h86,686.5+0.048%$41.3M$490.3M50xas long as short
Ondo Perps BTC-USD.P+0.0100%1h86,654+0.011%$3.9M$18.6M25xas long as short
Arcus BTC-USD+0.0100%1h86,716.2+0.082%$7.5M$93.6M40xas long as short
Bulk BTC-USD+0.0100%1h86,606.9−0.044%$571.9M$22.8M40xas long as short
Backpack BTC_USDC_PERP+0.0100%1h86,633.4−0.013%$38.1M$148.4M75xas long as short
edgeX BTCUSDC+0.0100%4h86,571.5−0.085%$279.6M$949.6M100xas long as short
GRVT BTC_USDT_Perp+0.0100%8h86,662+0.020%$217.6M$187.8M50xas long as short
ApeX Omni BTCUSDT+0.0100%1h86,686.6+0.048%$141.7M$322.9M100xas long as short
StandX BTC-USD+0.0100%1h86,590.4−0.063%$30.8M$205.5M40xas long as short
Vest BTC-PERP+0.0100%1h86,669.5+0.028%—$11.6M50xas long as short
Polymarket Perps BTC-USDshort+0.0100%1h86,626−0.022%$11.1M$13.7M50x
Bullet BTC-USD+0.0100%1h86,614−0.036%$194K$3.4M20xas long as short
Orderly PERP_BTC_USDC+0.0100%8h86,630.2−0.017%$2.5M$8.5M100xas long as short
Bluefin BTC-PERP+0.0100%1h86,638.7−0.007%$141K$619K40xas long as short
Derive BTC-PERP+0.0100%1h86,618.3−0.031%$30.0M$61.6M15xas long as short
SunX BTC-USDT+0.0100%8h86,608.9−0.041%$3.4M$5.5M100xas long as short
SoDEX BTC-USD+0.0100%1h86,608−0.043%$60.5M$336.5M40xas long as short
HTX BTC-USDT+0.0100%8h86,608.6−0.042%$2.30B$957.0M200xas long as short
Extended BTC-USD+0.0104%1h86,651+0.007%$46.4M$227.9M50xas long as short
Jupiter Perps WBTC-PERPL +0.0104% / S +0.0048%1h86,624.1−0.024%—$98.3M500xas long as short
Kraken Futures PF_XBTUSD+0.0117%1h86,645.20.000%$189.2M$930.5M100xas long as short
Coinbase International BTC-PERP-INTX+0.0120%1h86,653.1+0.010%$131.9M$5.86B50xas long as short
Kalshi KXBTCPERP+0.0123%8h86,624−0.024%$9.0M$723.3M6.4xas long as short
BloFin BTC-USDT+0.0172%8h86,606.7−0.044%$416.8M$650.6M150xas long as short
GMX BTC/USD [WBTC.b-USDC]L +0.0178% / S −0.0185%1h86,629.2−0.018%$14.9M—200xas long as short
Hibachi BTC/USDT-P+0.0224%1h86,617.4−0.032%$614K$7.1M30xas long as short