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 00:00 UTC+0.0018%/8h= +2.0% APRnext payment +$0.02 per $10,000 · paid last 24h +0.040%
Price spread now: Derive against dYdX+0.057%7-day average −0.015% · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Long on dYdXShort on Derive
What this pair did over the last
the charts below follow
Funding, last 7 days+0.086%+$9 on $10k
Price spread, last 3 days (all we have)−0.122%−$12 · spread now +0.057%, 7d avg −0.015%
Together, before fees−0.037%−$4 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and Derive is 0.072% dearer against dYdX than usual: you sell high and buy low: +$7 more if the spread goes back to its 7-day average of −0.015%.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongdYdX BTC-USD86,452.40.0082pay 0.0010% / 1h57m 05s$17.0M$21.1M50x
ShortDerive BTC-PERP86,501.50.0100get 0.0013% / 1h57m 05s$30.6M$62.2M15x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Derive against dYdX. 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
$3.88
Price spread: +0.057% → −0.015%
$7.2
Slippage, 4 orders
no order book: not counted
Fee dYdX: 5 bp × 2 orders
−$10
Fee Derive: 3 bp × 2 orders
−$6
Net
−$4.91
Costs to cover
0.160%
Break-even
15.9 days
Slippage unknown: dYdX: live order book, 2 min ago; Derive: no order-book sample. 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 dYdX live order book, 2 min ago0.17 bp9.1 bp −$912.5 bp −$12515.8 bp −$1,57620.5 bp −$10.2K
Sell Derive no order-book sample—————
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
Phoenix BTC−0.0159%1h86,352−0.116%$2.2M$11.7M40xas long as short
Hotstuff BTC-PERP−0.0080%1h86,425−0.032%$9K$3K50xas long as short
Injective BTC/USDC PERP−0.0035%1h86,424−0.033%$332K$26.8M52xas long as short
RISEx BTC/USDC−0.0024%1h86,439.8−0.015%$8.4M$42.8M25xas long as short
Aster BTCUSDT−0.0007%8h86,461.2+0.010%$503.4M$1.15B200xas long as short
01 Exchange BTCUSD0.0000%1h86,453.6+0.001%$358K$2.5M50xas long as short
gTrade (Gains Network) BTC/USDL +0.0005% / S −0.0004%1h86,484.7+0.037%$36.8M—200xas long as short
KuCoin XBTUSDTM+0.0008%8h86,462.9+0.012%$849.6M$713.6M125xas long as short
Deribit BTC-PERPETUAL+0.0017%1h86,502.7+0.058%$917.4M$1.49B50xas long as short
Reya BTCRUSDPERP+0.0024%1h86,448.4−0.005%$6.7M$145.2M40xas long as short
Show all 56 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
BingX BTC-USDC+0.0038%8h86,448.6−0.004%—$15.4M—as long as short
Phemex BTCUSDT+0.0042%8h86,471.3+0.022%$149.8M$477.8M150xas long as short
Bitget BTCUSDT+0.0050%8h86,464.7+0.014%$2.96B$5.12B150xas long as short
Aevo BTC-PERP+0.0064%1h86,461.8+0.011%$2.4M$1.3M20xas long as short
MEXC BTC_USDT+0.0067%8h86,469.6+0.020%$5.13B$5.61B500xas long as short
Binance BTCUSDT+0.0069%8h86,469.6+0.020%$9.42B$24.51B150xas long as short
Gate BTC_USDT+0.0081%8h86,463.3+0.013%$5.84B$10.69B200xas long as short
dYdX BTC-USDlong+0.0082%1h86,452.4long leg$17.0M$21.1M50x
Aftermath Perps BTCUSD+0.0082%1h86,424.1−0.033%$79K$220K20xas long as short
Lighter BTC+0.0096%1h86,471.6+0.022%$170.3M$1.01B50xas long as short
Lighter RH BTC+0.0096%1h86,487.4+0.040%$24.0M$151.1M50xas long as short
Popdex BTCUSDT+0.0096%1h86,443−0.011%$8.5M$52.5M100xas long as short
Bybit BTCUSDT+0.0099%8h86,464.4+0.014%$5.26B$9.80B150xas long as short
Katana Perps BTC-USD+0.0100%8h86,417−0.041%$203K$7.0M50xas long as short
Paradex BTC-USD-PERP+0.0100%8h86,460.4+0.009%$4.8M$8.5M50xas long as short
Nado BTC-PERP+0.0100%1h86,429.3−0.027%$21.9M$234.6M50xas long as short
Hyperliquid BTC+0.0100%1h86,539.3+0.101%$3.79B$5.10B40xas long as short
Pacifica BTC+0.0100%1h86,462+0.011%$41.1M$521.5M50xas long as short
OKX BTC-USDT-SWAP+0.0100%8h86,465.2+0.015%$2.54B$12.72B100xas long as short
Ondo Perps BTC-USD.P+0.0100%1h86,441−0.013%$3.9M$18.6M25xas long as short
Arcus BTC-USD+0.0100%1h86,471.4+0.022%$7.6M$94.7M40xas long as short
Bulk BTC-USD+0.0100%1h86,382.9−0.080%$571.1M$18.1M40xas long as short
Backpack BTC_USDC_PERP+0.0100%1h86,462.4+0.012%$37.8M$154.6M75xas long as short
Variational Omni BTC+0.0100%8h86,337.9−0.132%$155.6M$568.2M—as long as short
edgeX BTCUSDC+0.0100%4h86,393.2−0.068%$279.2M$943.9M100xas long as short
GRVT BTC_USDT_Perp+0.0100%8h86,348.3−0.120%$216.7M$173.5M50xas long as short
ApeX Omni BTCUSDT+0.0100%1h86,396.2−0.065%$141.2M$323.3M100xas long as short
StandX BTC-USD+0.0100%1h86,432.8−0.023%$30.7M$204.4M40xas long as short
Vest BTC-PERP+0.0100%1h86,492.3+0.046%—$11.7M50xas long as short
Polymarket Perps BTC-USD+0.0100%1h86,451−0.002%$11.1M$13.8M50xas long as short
Bullet BTC-USD+0.0100%1h86,473.5+0.024%$190K$3.3M20xas long as short
Orderly PERP_BTC_USDC+0.0100%8h86,470+0.020%$2.4M$8.8M100xas long as short
Bluefin BTC-PERP+0.0100%1h86,503.3+0.059%$140K$663K40xas long as short
Derive BTC-PERPshort+0.0100%1h86,501.5+0.057%$30.6M$62.2M15x
SunX BTC-USDT+0.0100%8h86,460.3+0.009%$3.4M$5.4M100xas long as short
SoDEX BTC-USD+0.0100%1h86,470+0.020%$60.4M$337.5M40xas long as short
HTX BTC-USDT+0.0100%8h86,440−0.014%$2.29B$969.3M200xas long as short
Extended BTC-USD+0.0104%1h86,451.2−0.001%$45.4M$226.7M50xas long as short
Jupiter Perps WBTC-PERPL +0.0104% / S +0.0048%1h86,470.3+0.021%—$99.0M500xas long as short
Kraken Futures PF_XBTUSD+0.0110%1h86,497.2+0.052%$192.2M$947.8M100xas long as short
Perpl BTC+0.0112%43m86,446.9−0.006%$417K$23.4M6.7xas long as short
Coinbase International BTC-PERP-INTX+0.0112%1h86,511.9+0.069%$132.3M$5.68B50xas long as short
Hibachi BTC/USDT-P+0.0160%1h86,468.3+0.018%$719K$8.1M30xas long as short
BloFin BTC-USDT+0.0189%8h86,471.5+0.022%$414.6M$655.4M150xas long as short
GMX BTC/USD [WBTC.b-USDC]L +0.0190% / S −0.0213%1h86,480.8+0.033%$15.1M—200xas long as short
Kalshi KXBTCPERP+0.0201%8h86,470+0.020%$9.8M$738.0M6.4xas long as short