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 21:00 UTC+0.0020%/8h= +2.2% APRnext payment +$0.03 per $10,000 · paid last 24h +0.001%
Price spread now: Coinbase International against Derive+0.048%7-day average +0.044% · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Long on DeriveShort on Coinbase International
What this pair did over the last
the charts below follow
Funding, last 7 days+0.038%+$4 on $10k
Price spread, last 3 days (all we have)+0.027%+$3 · spread now +0.048%, 7d avg +0.044%
Together, before fees+0.065%+$6 on $10k · with fees, hour by hour
The price spread sits at its 7-day average of +0.044%, so right now this pair is about funding alone: +$1 a day on $10k at the current rate.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongDerive BTC-PERP86,697.10.0100pay 0.0013% / 1h53m 57s$30.0M$61.5M15x
ShortCoinbase International BTC-PERP-INTX86,738.40.0120get 0.0015% / 1h53m 57s$132.3M$5.93B50x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Coinbase International against Derive. 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
$4.2
Price spread: +0.048% → +0.044%
$0.32
Slippage, 4 orders
no order book: not counted
Fee Derive: 3 bp × 2 orders
−$6
Fee Coinbase International: 5 bp × 2 orders
−$10
Net
−$11.48
Costs to cover
0.160%
Break-even
26.1 days
Slippage unknown: Derive: no order-book sample; Coinbase International: live order book, 5 min ago. Net counts fees only.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy Derive no order-book sample—————
Sell Coinbase International live order book, 5 min ago0.01 bp5.3 bp −$55.5 bp −$556.4 bp −$64213.7 bp −$6,871
Derive: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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
Perpl BTC−0.0335%43m86,699.6+0.003%$425K$25.4M6.7xas long as short
Aftermath Perps BTCUSD−0.0188%1h86,827.4+0.150%$85K$188K20xas long as short
Phoenix BTC−0.0123%1h86,795+0.113%$2.2M$12.4M40xas long as short
dYdX BTC-USD−0.0094%1h86,758.8+0.071%$18.1M$19.9M50xas long as short
Hotstuff BTC-PERP−0.0080%1h86,667−0.035%$9K$3K50xas long as short
Bluefin BTC-PERP−0.0001%1h86,680−0.020%$160K$575K40xas long as short
KuCoin XBTUSDTM−0.0001%8h86,717.7+0.024%$846.7M$708.4M125xas long as short
01 Exchange BTCUSD0.0000%1h86,688.9−0.009%$362K$2.5M50xas long as short
Kalshi KXBTCPERP0.0000%8h86,760+0.073%$8.8M$725.2M6.4xas long as short
gTrade (Gains Network) BTC/USDL +0.0005% / S −0.0005%1h86,728.6+0.036%$36.7M—200xas long as short
Show all 56 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Aster BTCUSDT+0.0017%8h86,723.3+0.030%$506.3M$1.16B200xas long as short
BingX BTC-USDT+0.0019%8h86,713.4+0.019%—$1.60B—as long as short
Reya BTCRUSDPERP+0.0021%1h86,669.3−0.032%$6.8M$143.8M40xas long as short
Phemex BTCUSDT+0.0022%8h86,689.5−0.009%$149.5M$469.1M150xas long as short
Bitget BTCUSDT+0.0025%8h86,710.8+0.016%$2.95B$5.08B150xas long as short
MEXC BTC_USDT+0.0046%8h86,711.6+0.017%$5.21B$5.62B500xas long as short
Binance BTCUSDT+0.0046%8h86,710.9+0.016%$9.45B$24.35B150xas long as short
Aevo BTC-PERP+0.0048%1h86,697.20.000%$2.4M$1.3M20xas long as short
Injective BTC/USDC PERP+0.0049%1h86,984+0.331%$316K$26.8M52xas long as short
OKX BTC-USDT-SWAP+0.0056%8h86,714.8+0.020%$2.58B$12.73B100xas long as short
Gate BTC_USDT+0.0062%8h86,716.1+0.022%$5.86B$10.54B200xas long as short
RISEx BTC/USDC+0.0063%1h86,682.2−0.017%$9.2M$41.9M25xas long as short
Bybit BTCUSDT+0.0078%8h86,727.9+0.036%$5.29B$9.70B150xas long as short
Variational Omni BTC+0.0088%8h86,792.9+0.111%$161.2M$563.4M—as long as short
GRVT BTC_USDT_Perp+0.0094%8h86,810.6+0.131%$218.0M$191.1M50xas long as short
Lighter BTC+0.0096%1h86,703.2+0.007%$172.6M$1.00B50xas long as short
Lighter RH BTC+0.0096%1h86,709.4+0.014%$24.2M$152.5M50xas long as short
Popdex BTCUSDT+0.0096%1h86,663−0.039%$8.5M$52.1M100xas long as short
SoDEX BTC-USD+0.0097%1h86,687−0.012%$60.5M$336.4M40xas long as short
Orderly PERP_BTC_USDC+0.0098%8h86,706+0.010%$2.5M$8.4M100xas long as short
Paradex BTC-USD-PERP+0.0100%8h86,724.3+0.031%$4.8M$8.2M50xas long as short
Katana Perps BTC-USD+0.0100%8h86,659−0.044%$194K$6.8M50xas long as short
Nado BTC-PERP+0.0100%1h86,713.7+0.019%$22.0M$237.9M50xas long as short
Hyperliquid BTC+0.0100%1h86,780+0.096%$3.85B$5.08B40xas long as short
Pacifica BTC+0.0100%1h86,729.7+0.038%$41.6M$484.5M50xas long as short
Ondo Perps BTC-USD.P+0.0100%1h86,673−0.028%$3.9M$18.8M25xas long as short
Arcus BTC-USD+0.0100%1h86,740.6+0.050%$7.5M$95.4M40xas long as short
Bulk BTC-USD+0.0100%1h86,919.5+0.257%$573.8M$23.8M40xas long as short
Backpack BTC_USDC_PERP+0.0100%1h86,710.6+0.016%$38.3M$148.1M75xas long as short
edgeX BTCUSDC+0.0100%4h86,804.8+0.124%$280.4M$944.7M100xas long as short
ApeX Omni BTCUSDT+0.0100%1h86,805.9+0.126%$142.0M$322.7M100xas long as short
StandX BTC-USD+0.0100%1h86,756.7+0.069%$30.9M$205.6M40xas long as short
Vest BTC-PERP+0.0100%1h86,746.4+0.057%—$11.6M50xas long as short
Polymarket Perps BTC-USD+0.0100%1h86,668−0.034%$11.1M$13.7M50xas long as short
Bullet BTC-USD+0.0100%1h86,680.9−0.019%$202K$3.4M20xas long as short
Derive BTC-PERPlong+0.0100%1h86,697.1long leg$30.0M$61.5M15x
SunX BTC-USDT+0.0100%8h86,665.6−0.036%$3.4M$5.6M100xas long as short
HTX BTC-USDT+0.0100%8h86,686.2−0.013%$2.30B$954.8M200xas long as short
Extended BTC-USD+0.0104%1h86,704.8+0.009%$46.2M$228.5M50xas long as short
Jupiter Perps WBTC-PERPL +0.0104% / S +0.0048%1h86,748+0.059%—$97.8M500xas long as short
Kraken Futures PF_XBTUSD+0.0116%1h86,729.1+0.037%$192.7M$927.3M100xas long as short
Coinbase International BTC-PERP-INTXshort+0.0120%1h86,738.4+0.048%$132.3M$5.93B50x
BloFin BTC-USDT+0.0166%8h86,801+0.120%$420.1M$642.2M150xas long as short
GMX BTC/USD [WBTC.b-USDC]L +0.0181% / S −0.0200%1h86,717.5+0.024%$15.4M—200xas long as short
Hibachi BTC/USDT-P+0.0200%1h86,798.4+0.117%$752K$7.0M30xas long as short
Deribit BTC-PERPETUAL+0.0482%1h86,704.8+0.009%$922.4M$1.38B50xas long as short