BTC

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0096%/8h= +10.5% APRnext payment +$0.12 per $10,000 · paid last 24h +0.031%

Price spread now: Polymarket Perps against dYdX+0.017%47s7-day average −0.007% · you sell dearer than you buy

Net, funding: paid 7d − costs−$41as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$590.586% of the position

Long on dYdX Short on Polymarket Perps

What this pair did over the last

the charts below follow

Funding, last 7 days+0.179%+$18 on $10k

Price spread, last 7 days−0.065%−$7 · spread now +0.017%, 7d avg −0.007%

Together, before fees+0.114%+$11 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 0.024% dearer against dYdX than usual: you sell high and buy low: +$2 more if the spread goes back to its 7-day average of −0.007%. The two prices were read 47 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	dYdX BTC-USD	85,390.6	0.0004	pay 0.0001% / 1h	42m 40s	$16.7M	$21.0M	50x
Short	Polymarket Perps BTC-USD	85,405	0.0100	get 0.0013% / 1h	42m 40s	$11.0M	$14.7M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket Perps 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

Position, each leg$Hold fordaysFee dYdXbpFee Polymarket PerpsbpOrdersPrice spread, now +0.017%Rate

Funding earned: $20.09
Price spread: +0.017% → −0.007%: $2.37
Slippage, 4 orders: −$40.62
Fee dYdX: 5 bp × 2 orders: −$10
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: −$36.17
Costs to cover: 0.586%
Break-even: 19.6 days

Slippage from dYdX: live order book, 2 min ago; Polymarket Perps: live order book, 2 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 dYdX live order book, 2 min ago	9.78 bp	14.8 bp −$15	32.0 bp −$320	47.2 bp −$4,719	73.6 bp −$36.8K
Sell Polymarket Perps live order book, 2 min ago	0.06 bp	4.1 bp −$4	4.4 bp −$44	7.0 bp −$697	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
Hotstuff BTC-PERP	−0.0080%	1h	85,414	+0.027%	$8K	$3K	50x	as long as short
Phoenix BTC	−0.0034%	1h	85,472	+0.095%	$2.3M	$10.8M	40x	as long as short
KuCoin XBTUSDTM	−0.0026%	8h	85,360.1	−0.036%	$931.1M	$775.2M	125x	as long as short
BloFin BTC-USDT	−0.0022%	8h	85,380.7	−0.012%	$420.7M	$682.4M	150x	as long as short
Aster BTCUSDT	−0.0005%	8h	85,394.1	+0.004%	$512.1M	$1.08B	200x	as long as short
01 Exchange BTCUSD	0.0000%	1h	85,410	+0.023%	$347K	$2.3M	50x	as long as short
Perpl BTC	0.0000%	43m	85,394	+0.004%	$483K	$18.3M	6.7x	as long as short
dYdX BTC-USDlong	+0.0004%	1h	85,390.6	long leg	$16.7M	$21.0M	50x
gTrade (Gains Network) BTC/USD	L +0.0004% / S −0.0004%	1h	85,408.4	+0.021%	$36.5M	—	200x	as long as short
Kraken Futures PF_XBTUSD	+0.0026%	1h	85,396.1	+0.006%	$185.6M	$952.5M	100x	as long as short

Show all 56 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
ApeX Omni BTCUSDT	+0.0066%	1h	85,421.4	+0.036%	$139.6M	$312.8M	100x	as long as short
Injective BTC/USDC PERP	+0.0067%	1h	85,367	−0.028%	$338K	$24.6M	52x	as long as short
BingX BTC-USDC	+0.0068%	8h	85,382.6	−0.009%	—	$17.4M	—	as long as short
Nado BTC-PERP	+0.0079%	1h	85,387.5	−0.004%	$24.1M	$220.0M	50x	as long as short
Bybit BTCUSDT	+0.0084%	8h	85,391.1	+0.001%	$5.14B	$9.98B	150x	as long as short
Bitget BTCUSDT	+0.0092%	8h	85,402.1	+0.013%	$2.97B	$5.18B	150x	as long as short
Lighter BTC	+0.0096%	1h	85,403.2	+0.015%	$169.0M	$1.01B	50x	as long as short
Lighter RH BTC	+0.0096%	1h	85,402.8	+0.014%	$23.6M	$148.0M	50x	as long as short
Popdex BTCUSDT	+0.0096%	1h	85,409	+0.022%	$8.4M	$57.4M	100x	as long as short
Aevo BTC-PERP	+0.0096%	1h	85,392.3	+0.002%	$2.4M	$6.7M	20x	as long as short
MEXC BTC_USDT	+0.0097%	8h	85,400	+0.011%	$5.05B	$5.72B	500x	as long as short
Binance BTCUSDT	+0.0098%	8h	85,399.9	+0.011%	$9.41B	$25.01B	150x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	85,376	−0.017%	$271K	$8.7M	50x	as long as short
Paradex BTC-USD-PERP	+0.0100%	8h	85,434.5	+0.051%	$5.8M	$9.5M	50x	as long as short
Hyperliquid BTC	+0.0100%	1h	85,451	+0.071%	$3.75B	$5.07B	40x	as long as short
Pacifica BTC	+0.0100%	1h	85,424.6	+0.040%	$40.1M	$605.5M	50x	as long as short
OKX BTC-USDT-SWAP	+0.0100%	8h	85,399.9	+0.011%	$2.60B	$12.21B	100x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	85,399	+0.010%	$3.9M	$17.3M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	85,409.9	+0.023%	$4.7M	$96.7M	40x	as long as short
Bulk BTC-USD	+0.0100%	1h	85,349	−0.049%	$691.7M	$275.1M	40x	as long as short
Gate BTC_USDT	+0.0100%	8h	85,368.2	−0.026%	$5.53B	$11.03B	200x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	85,379.7	−0.013%	$37.3M	$185.0M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	85,426.4	+0.042%	$156.0M	$554.8M	—	as long as short
edgeX BTCUSDC	+0.0100%	4h	85,436.8	+0.054%	$283.3M	$959.9M	100x	as long as short
GRVT BTC_USDT_Perp	+0.0100%	8h	85,426.5	+0.042%	$214.4M	$159.5M	50x	as long as short
StandX BTC-USD	+0.0100%	1h	85,414.3	+0.028%	$30.1M	$209.6M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	85,467.4	+0.090%	—	$10.1M	50x	as long as short
Polymarket Perps BTC-USDshort	+0.0100%	1h	85,405	+0.017%	$11.0M	$14.7M	50x
Bullet BTC-USD	+0.0100%	1h	85,409.4	+0.022%	$197K	$3.3M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	85,398.8	+0.010%	$2.6M	$9.8M	100x	as long as short
Bluefin BTC-PERP	+0.0100%	1h	85,427.2	+0.043%	$194K	$795K	40x	as long as short
Derive BTC-PERP	+0.0100%	1h	85,375.9	−0.017%	$30.0M	$45.9M	15x	as long as short
SunX BTC-USDT	+0.0100%	8h	85,397.4	+0.008%	$2.9M	$6.1M	100x	as long as short
SoDEX BTC-USD	+0.0100%	1h	85,387	−0.004%	$59.8M	$336.5M	40x	as long as short
HTX BTC-USDT	+0.0100%	8h	85,395.7	+0.006%	$2.26B	$966.6M	200x	as long as short
Phemex BTCUSDT	+0.0100%	8h	85,408.6	+0.021%	$158.9M	$514.1M	150x	as long as short
Extended BTC-USD	+0.0104%	1h	85,348	−0.050%	$45.5M	$241.1M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0056%	1h	85,407.4	+0.020%	—	$106.0M	500x	as long as short
Coinbase International BTC-PERP-INTX	+0.0104%	1h	85,421	+0.036%	$112.3M	$5.48B	50x	as long as short
Deribit BTC-PERPETUAL	+0.0117%	1h	85,427.4	+0.043%	$840.7M	$1.66B	50x	as long as short
Reya BTCRUSDPERP	+0.0138%	1h	85,395.8	+0.006%	$6.6M	$146.4M	40x	as long as short
Kalshi KXBTCPERP	+0.0173%	8h	85,416	+0.030%	$12.1M	$736.5M	6.4x	as long as short
RISEx BTC/USDC	+0.0174%	1h	85,425.2	+0.041%	$8.8M	$42.8M	25x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0175% / S −0.0147%	1h	85,411.7	+0.025%	$13.0M	—	200x	as long as short
Hibachi BTC/USDT-P	+0.0200%	1h	85,453.6	+0.074%	$684K	$7.7M	30x	as long as short
Aftermath Perps BTCUSD	+0.0290%	1h	85,453.3	+0.073%	$79K	$252K	20x	as long as short