Funding you earn now, next payment 04:00 UTC+0.0009%/8h= +1.0% APRnext payment +$0.01 per $10,000 · paid last 24h −0.037%
Price spread now: RISEx against Deribit−0.033%7-day average −0.031% · 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−$15as in the Price arb table
costs, in and out, $10k−$150.147% of the position
Funding, last 4 days (all we have)−0.032%−$3 on $10k
+Price spread, last 4 days (all we have)+0.063%+$6 · spread now −0.033%, 7d avg −0.031%
=| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Deribit BTC-PERPETUAL | 85,608.2 | 0.0185 | pay 0.0023% / 1h | 44m 02s | $893.7M | $1.53B | 50x |
| Short | RISEx BTC/USDC | 85,579.9 | 0.0194 | get 0.0024% / 1h | 44m 02s | $8.3M | $42.4M | 25x |
Deribit BTC-PERPETUAL
RISEx BTC/USDCFunding history
latest
Range statsloading…
Price spread between the two exchanges
RISEx 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
- $1.88
- Price spread: −0.033% → −0.031%
- −$0.18
- Slippage, 4 orders
- −$1.7
- Fee Deribit: 3.5 bp × 2 orders
- −$7
- Fee RISEx: 3 bp × 2 orders
- −$6
- Net
- −$13
- Costs to cover
- 0.147%
- Break-even
- 55.3 days
Slippage from Deribit: live order book, 5 min ago; RISEx: live order book, 5 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, 5 min ago | 0.03 bp | 3.9 bp −$4 | 4.8 bp −$48 | 7.0 bp −$701 | 11.1 bp −$5,554 |
| Sell RISEx live order book, 5 min ago | 0.01 bp | 3.0 bp −$3 | 3.0 bp −$30 | 10.1 bp −$1,009 | 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 | −0.0679% | 1h | 85,601.7 | −0.008% | $207K | $738K | 40x | as long as short |
| Phoenix BTC | −0.0179% | 1h | 85,410 | −0.231% | $2.2M | $10.3M | 40x | as long as short |
| Hotstuff BTC-PERP | −0.0080% | 1h | 85,507 | −0.118% | $8K | $3K | 50x | as long as short |
| 01 Exchange BTCUSD | −0.0048% | 1h | 85,540.8 | −0.079% | $366K | $2.3M | 50x | as long as short |
| BloFin BTC-USDT | −0.0032% | 8h | 85,503.7 | −0.122% | $417.0M | $665.6M | 150x | as long as short |
| KuCoin XBTUSDTM | −0.0005% | 8h | 85,544.6 | −0.074% | $919.8M | $750.5M | 125x | as long as short |
| dYdX BTC-USD | 0.0000% | 1h | 85,499.7 | −0.127% | $16.7M | $21.2M | 50x | as long as short |
| gTrade (Gains Network) BTC/USD | L +0.0005% / S −0.0004% | 1h | 85,571.6 | −0.043% | $36.5M | — | 200x | as long as short |
| Aster BTCUSDT | +0.0012% | 8h | 85,528 | −0.094% | $515.4M | $1.10B | 200x | as long as short |
| Arcus BTC-USD | +0.0021% | 1h | 85,532.9 | −0.088% | $6.9M | $97.2M | 40x | as long as short |
Bluefin BTC-PERP
Phoenix BTC
Hotstuff BTC-PERP
01 Exchange BTCUSD
BloFin BTC-USDT
KuCoin XBTUSDTM
dYdX BTC-USD
gTrade (Gains Network) BTC/USD
Aster BTCUSDT
Arcus BTC-USDShow all 56 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Nado BTC-PERP | +0.0054% | 1h | 85,492.1 | −0.136% | $22.7M | $219.2M | 50x | as long as short |
| BingX BTC-USDC | +0.0060% | 8h | 85,550.9 | −0.067% | — | $17.1M | — | as long as short |
| Bitget BTCUSDT | +0.0075% | 8h | 85,539.3 | −0.080% | $2.96B | $5.03B | 150x | as long as short |
| Reya BTCRUSDPERP | +0.0078% | 1h | 85,543.5 | −0.076% | $6.7M | $146.6M | 40x | as long as short |
| MEXC BTC_USDT | +0.0088% | 8h | 85,568.7 | −0.046% | $5.05B | $5.58B | 500x | as long as short |
| Aevo BTC-PERP | +0.0088% | 1h | 85,557.8 | −0.059% | $2.5M | $1.7M | 20x | as long as short |
| Binance BTCUSDT | +0.0089% | 8h | 85,555.9 | −0.061% | $9.35B | $24.02B | 150x | as long as short |
| Lighter BTC | +0.0096% | 1h | 85,571.7 | −0.043% | $173.8M | $1.00B | 50x | as long as short |
| Lighter RH BTC | +0.0096% | 1h | 85,579.8 | −0.033% | $23.8M | $148.4M | 50x | as long as short |
| Popdex BTCUSDT | +0.0096% | 1h | 85,558 | −0.059% | $8.4M | $52.6M | 100x | as long as short |
| Paradex BTC-USD-PERP | +0.0100% | 8h | 85,576.2 | −0.037% | $4.1M | $8.5M | 50x | as long as short |
| Katana Perps BTC-USD | +0.0100% | 8h | 85,532 | −0.089% | $229K | $8.0M | 50x | as long as short |
| Hyperliquid BTC | +0.0100% | 1h | 85,645 | +0.043% | $3.75B | $4.98B | 40x | as long as short |
| Pacifica BTC | +0.0100% | 1h | 85,550.4 | −0.067% | $40.1M | $575.8M | 50x | as long as short |
| Bybit BTCUSDT | +0.0100% | 8h | 85,551.3 | −0.066% | $5.25B | $9.66B | 150x | as long as short |
| OKX BTC-USDT-SWAP | +0.0100% | 8h | 85,551.9 | −0.066% | $2.58B | $12.10B | 100x | as long as short |
| Ondo Perps BTC-USD.P | +0.0100% | 1h | 85,555 | −0.062% | $3.9M | $18.0M | 25x | as long as short |
| Gate BTC_USDT | +0.0100% | 8h | 85,569.9 | −0.045% | $5.54B | $10.59B | 200x | as long as short |
| Backpack BTC_USDC_PERP | +0.0100% | 1h | 85,559.7 | −0.057% | $35.8M | $176.0M | 75x | as long as short |
| Variational Omni BTC | +0.0100% | 8h | 85,466.8 | −0.165% | $153.8M | $563.2M | — | as long as short |
| edgeX BTCUSDC | +0.0100% | 4h | 85,507.5 | −0.118% | $279.3M | $919.2M | 100x | as long as short |
| GRVT BTC_USDT_Perp | +0.0100% | 8h | 85,550.2 | −0.068% | $214.8M | $166.8M | 50x | as long as short |
| ApeX Omni BTCUSDT | +0.0100% | 1h | 85,562.7 | −0.053% | $139.9M | $314.7M | 100x | as long as short |
| StandX BTC-USD | +0.0100% | 1h | 85,500.4 | −0.126% | $30.2M | $207.5M | 40x | as long as short |
| Vest BTC-PERP | +0.0100% | 1h | 85,589.8 | −0.021% | — | $11.8M | 50x | as long as short |
| Polymarket Perps BTC-USD | +0.0100% | 1h | 85,545 | −0.074% | $11.0M | $14.2M | 50x | as long as short |
| Bullet BTC-USD | +0.0100% | 1h | 85,560.9 | −0.055% | $194K | $3.3M | 20x | as long as short |
| Orderly PERP_BTC_USDC | +0.0100% | 8h | 85,563.1 | −0.053% | $2.3M | $8.8M | 100x | as long as short |
| Derive BTC-PERP | +0.0100% | 1h | 85,556.6 | −0.060% | $30.0M | $50.9M | 15x | as long as short |
| SunX BTC-USDT | +0.0100% | 8h | 85,526.6 | −0.095% | $2.9M | $6.1M | 100x | as long as short |
| SoDEX BTC-USD | +0.0100% | 1h | 85,563 | −0.053% | $60.0M | $336.1M | 40x | as long as short |
| HTX BTC-USDT | +0.0100% | 8h | 85,550 | −0.068% | $2.27B | $940.3M | 200x | as long as short |
| Phemex BTCUSDT | +0.0100% | 8h | 85,563.8 | −0.052% | $150.7M | $483.6M | 150x | as long as short |
| Bulk BTC-USD | +0.0100% | 1h | 85,513.6 | −0.110% | $649.6M | $594.9M | 40x | as long as short |
| Extended BTC-USD | +0.0104% | 1h | 85,517.5 | −0.106% | $44.5M | $226.4M | 50x | as long as short |
| Jupiter Perps WBTC-PERP | L +0.0104% / S +0.0056% | 1h | 85,560.7 | −0.055% | — | $106.9M | 500x | as long as short |
| Coinbase International BTC-PERP-INTX | +0.0104% | 1h | 85,599.7 | −0.010% | $117.3M | $5.16B | 50x | as long as short |
| Injective BTC/USDC PERP | +0.0150% | 1h | 85,472 | −0.159% | $339K | $26.9M | 52x | as long as short |
| Kraken Futures PF_XBTUSD | +0.0170% | 1h | 85,588.8 | −0.023% | $189.0M | $953.5M | 100x | as long as short |
| GMX BTC/USD [WBTC.b-USDC] | L +0.0176% / S −0.0151% | 1h | 85,566.6 | −0.049% | $13.4M | — | 200x | as long as short |
| Deribit BTC-PERPETUALlong | +0.0185% | 1h | 85,608.2 | long leg | $893.7M | $1.53B | 50x | |
| Hibachi BTC/USDT-P | +0.0192% | 1h | 85,542.3 | −0.077% | $693K | $7.8M | 30x | as long as short |
| RISEx BTC/USDCshort | +0.0194% | 1h | 85,579.9 | −0.033% | $8.3M | $42.4M | 25x | |
| Aftermath Perps BTCUSD | +0.0204% | 1h | 85,583.3 | −0.029% | $78K | $219K | 20x | as long as short |
| Kalshi KXBTCPERP | +0.0217% | 8h | 85,583 | −0.029% | $10.5M | $758.9M | 6.4x | as long as short |
| Perpl BTC | +0.0447% | 43m | 85,564.9 | −0.051% | $498K | $18.9M | 6.7x | as long as short |
Nado BTC-PERP
BingX BTC-USDC
Bitget BTCUSDT
Reya BTCRUSDPERP
MEXC BTC_USDT
Aevo BTC-PERP
Binance BTCUSDT
Lighter BTC
Lighter RH BTC
Popdex BTCUSDT
Paradex BTC-USD-PERP
Katana Perps BTC-USD
Hyperliquid BTC
Pacifica BTC
Bybit BTCUSDT
OKX BTC-USDT-SWAP
Ondo Perps BTC-USD.P
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
Derive BTC-PERP
SunX BTC-USDT
SoDEX BTC-USD
HTX BTC-USDT
Phemex BTCUSDT
Bulk BTC-USD
Extended BTC-USD
Jupiter Perps WBTC-PERP
Coinbase International BTC-PERP-INTX
Injective BTC/USDC PERP
Kraken Futures PF_XBTUSD
GMX BTC/USD [WBTC.b-USDC]
Hibachi BTC/USDT-P
Aftermath Perps BTCUSD
Kalshi KXBTCPERP
Perpl BTC