Funding you earn now, next payment 06:00 UTC−0.0004%/8h= −0.4% APRnext payment −$0.00 per $10,000 · paid last 24h −0.003%
Price spread now: Bulk against Extended+0.082%7-day average +0.037% · you sell dearer than you buy
Net, funding: paid 7d − costs—under 7 days of funding history
Net, price: spread back to 7d avg − costs−$8as in the Price arb table
costs, in and out, $10k−$120.121% of the position
Funding, last 4 days (all we have)+0.001%$0 on $10k
+Price spread, last 7 days−0.059%−$6 · spread now +0.082%, 7d avg +0.037%
=Together, before fees−0.058%+ Points / potential airdropExtended: Active · farm board−$6 on $10k · with fees, hour by hour
Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Bulk is 0.045% dearer against Extended than usual: you sell high and buy low, +$5 on $10k if it goes back to its 7-day average of +0.037%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Extended BTC-USD | 85,254 | 0.0104 | pay 0.0013% / 1h | 41m 42s | $45.7M | $236.2M | 50x |
| Short | Bulk BTC-USD | 85,324.1 | 0.0100 | get 0.0013% / 1h | 41m 42s | $679.5M | $626.7M | 40x |
Extended BTC-USD
Bulk BTC-USDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Bulk against Extended. 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
- −$0.84
- Price spread: +0.082% → +0.037%
- $4.53
- Slippage, 4 orders
- −$0.15
- Fee Extended: 2.5 bp × 2 orders
- −$5
- Fee Bulk: 3.5 bp × 2 orders
- −$7
- Net
- −$8.46
- Costs to cover
- 0.121%
- Break-even
- never at this rate
Slippage from Extended: live order book, 2 min ago; Bulk: 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 Extended live order book, 2 min ago | 0.06 bp | 2.6 bp −$3 | 2.6 bp −$26 | 2.6 bp −$258 | 8.0 bp −$4,011 |
| Sell Bulk live order book, 2 min ago | 0.01 bp | 3.5 bp −$4 | 3.5 bp −$35 | 3.9 bp −$391 | 4.5 bp −$2,263 |
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 | |
|---|---|---|---|---|---|---|---|---|
| Perpl BTC | −0.0112% | 43m | 85,311.1 | +0.067% | $529K | $18.8M | 6.7x | as long as short |
| Phoenix BTC | −0.0111% | 1h | 85,377 | +0.144% | $2.1M | $10.4M | 40x | as long as short |
| Hotstuff BTC-PERP | −0.0080% | 1h | 85,327 | +0.086% | $8K | $3K | 50x | as long as short |
| KuCoin XBTUSDTM | −0.0054% | 8h | 85,285.1 | +0.036% | $919.7M | $761.0M | 125x | as long as short |
| BloFin BTC-USDT | −0.0033% | 8h | 85,287 | +0.039% | $419.9M | $678.3M | 150x | as long as short |
| 01 Exchange BTCUSD | −0.0032% | 1h | 85,300.8 | +0.055% | $381K | $2.3M | 50x | as long as short |
| Aster BTCUSDT | −0.0014% | 8h | 85,286.8 | +0.038% | $513.0M | $1.10B | 200x | as long as short |
| dYdX BTC-USD | +0.0002% | 1h | 85,303.2 | +0.058% | $16.7M | $21.3M | 50x | as long as short |
| gTrade (Gains Network) BTC/USD | L +0.0004% / S −0.0004% | 1h | 85,315.3 | +0.072% | $36.5M | — | 200x | as long as short |
| Nado BTC-PERP | +0.0009% | 1h | 85,310.4 | +0.066% | $24.5M | $222.6M | 50x | as long as short |
Perpl BTC
Phoenix BTC
Hotstuff BTC-PERP
KuCoin XBTUSDTM
BloFin BTC-USDT
01 Exchange BTCUSD
Aster BTCUSDT
dYdX BTC-USD
gTrade (Gains Network) BTC/USD
Nado BTC-PERPShow all 56 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Injective BTC/USDC PERP | +0.0023% | 1h | 85,449 | +0.229% | $339K | $26.8M | 52x | as long as short |
| SoDEX BTC-USD | +0.0040% | 1h | 85,298 | +0.052% | $59.8M | $335.8M | 40x | as long as short |
| Kraken Futures PF_XBTUSD | +0.0056% | 1h | 85,323.7 | +0.082% | $187.7M | $955.2M | 100x | as long as short |
| Bullet BTC-USD | +0.0063% | 1h | 85,291 | +0.043% | $204K | $3.3M | 20x | as long as short |
| BingX BTC-USDC | +0.0065% | 8h | 85,268 | +0.016% | — | $17.3M | — | as long as short |
| Phemex BTCUSDT | +0.0070% | 8h | 85,301.3 | +0.055% | $149.5M | $501.8M | 150x | as long as short |
| Aevo BTC-PERP | +0.0080% | 1h | 85,294.4 | +0.047% | $2.4M | $6.7M | 20x | as long as short |
| Bitget BTCUSDT | +0.0082% | 8h | 85,282.1 | +0.033% | $2.95B | $5.15B | 150x | as long as short |
| MEXC BTC_USDT | +0.0086% | 8h | 85,290.1 | +0.042% | $5.07B | $5.68B | 500x | as long as short |
| Binance BTCUSDT | +0.0086% | 8h | 85,290 | +0.042% | $9.43B | $24.75B | 150x | as long as short |
| Lighter BTC | +0.0096% | 1h | 85,304.8 | +0.060% | $171.5M | $1.02B | 50x | as long as short |
| Lighter RH BTC | +0.0096% | 1h | 85,305.9 | +0.061% | $23.8M | $147.5M | 50x | as long as short |
| Popdex BTCUSDT | +0.0096% | 1h | 85,274 | +0.023% | $8.3M | $55.5M | 100x | as long as short |
| Coinbase International BTC-PERP-INTX | +0.0096% | 1h | 85,346.8 | +0.109% | $117.2M | $5.32B | 50x | as long as short |
| Katana Perps BTC-USD | +0.0100% | 8h | 85,259 | +0.006% | $239K | $8.5M | 50x | as long as short |
| Paradex BTC-USD-PERP | +0.0100% | 8h | 85,351.8 | +0.115% | $5.6M | $9.4M | 50x | as long as short |
| Hyperliquid BTC | +0.0100% | 1h | 85,368 | +0.134% | $3.77B | $5.05B | 40x | as long as short |
| Pacifica BTC | +0.0100% | 1h | 85,330.9 | +0.090% | $40.0M | $595.0M | 50x | as long as short |
| Bybit BTCUSDT | +0.0100% | 8h | 85,285.5 | +0.037% | $5.16B | $9.90B | 150x | as long as short |
| OKX BTC-USDT-SWAP | +0.0100% | 8h | 85,292.9 | +0.046% | $2.59B | $12.14B | 100x | as long as short |
| Ondo Perps BTC-USD.P | +0.0100% | 1h | 85,275 | +0.025% | $3.8M | $17.5M | 25x | as long as short |
| Arcus BTC-USD | +0.0100% | 1h | 85,281.1 | +0.032% | $4.7M | $99.1M | 40x | as long as short |
| Bulk BTC-USDshort | +0.0100% | 1h | 85,324.1 | +0.082% | $679.5M | $626.7M | 40x | |
| Gate BTC_USDT | +0.0100% | 8h | 85,291.5 | +0.044% | $5.52B | $10.84B | 200x | as long as short |
| Backpack BTC_USDC_PERP | +0.0100% | 1h | 85,291 | +0.043% | $36.1M | $174.5M | 75x | as long as short |
| Variational Omni BTC | +0.0100% | 8h | 85,345 | +0.107% | $154.3M | $564.9M | — | as long as short |
| edgeX BTCUSDC | +0.0100% | 4h | 85,396.2 | +0.167% | $279.4M | $939.8M | 100x | as long as short |
| GRVT BTC_USDT_Perp | +0.0100% | 8h | 85,382.3 | +0.150% | $214.6M | $168.8M | 50x | as long as short |
| ApeX Omni BTCUSDT | +0.0100% | 1h | 85,392.3 | +0.162% | $139.6M | $315.2M | 100x | as long as short |
| StandX BTC-USD | +0.0100% | 1h | 85,363.4 | +0.128% | $30.1M | $206.6M | 40x | as long as short |
| Vest BTC-PERP | +0.0100% | 1h | 85,369 | +0.135% | — | $10.9M | 50x | as long as short |
| Polymarket Perps BTC-USD | +0.0100% | 1h | 85,301 | +0.055% | $11.0M | $14.4M | 50x | as long as short |
| Orderly PERP_BTC_USDC | +0.0100% | 8h | 85,308.2 | +0.064% | $2.3M | $9.0M | 100x | as long as short |
| Bluefin BTC-PERP | +0.0100% | 1h | 85,346 | +0.108% | $206K | $739K | 40x | as long as short |
| Derive BTC-PERP | +0.0100% | 1h | 85,283.9 | +0.035% | $30.0M | $50.3M | 15x | as long as short |
| SunX BTC-USDT | +0.0100% | 8h | 85,287.7 | +0.040% | $2.9M | $6.1M | 100x | as long as short |
| HTX BTC-USDT | +0.0100% | 8h | 85,299.9 | +0.054% | $2.26B | $953.0M | 200x | as long as short |
| Extended BTC-USDlong | +0.0104% | 1h | 85,254 | long leg | $45.7M | $236.2M | 50x | |
| Jupiter Perps WBTC-PERP | L +0.0104% / S +0.0048% | 1h | 85,328.8 | +0.088% | — | $106.8M | 500x | as long as short |
| Reya BTCRUSDPERP | +0.0111% | 1h | 85,293.3 | +0.046% | $6.6M | $147.3M | 40x | as long as short |
| Deribit BTC-PERPETUAL | +0.0155% | 1h | 85,349.5 | +0.112% | $872.3M | $1.60B | 50x | as long as short |
| GMX BTC/USD [WBTC.b-USDC] | L +0.0176% / S −0.0151% | 1h | 85,311.8 | +0.068% | $13.0M | — | 200x | as long as short |
| Kalshi KXBTCPERP | +0.0177% | 8h | 85,339 | +0.100% | $11.5M | $749.1M | 6.4x | as long as short |
| Hibachi BTC/USDT-P | +0.0232% | 1h | 85,342.5 | +0.104% | $694K | $7.9M | 30x | as long as short |
| Aftermath Perps BTCUSD | +0.0236% | 1h | 85,392.8 | +0.163% | $79K | $226K | 20x | as long as short |
| RISEx BTC/USDC | +0.0257% | 1h | 85,313.8 | +0.070% | $8.7M | $43.1M | 25x | as long as short |
Injective BTC/USDC PERP
SoDEX BTC-USD
Kraken Futures PF_XBTUSD
Bullet BTC-USD
BingX BTC-USDC
Phemex BTCUSDT
Aevo BTC-PERP
Bitget BTCUSDT
MEXC BTC_USDT
Binance BTCUSDT
Lighter BTC
Lighter RH BTC
Popdex BTCUSDT
Coinbase International BTC-PERP-INTX
Katana Perps BTC-USD
Paradex BTC-USD-PERP
Hyperliquid BTC
Pacifica BTC
Bybit BTCUSDT
OKX BTC-USDT-SWAP
Ondo Perps BTC-USD.P
Arcus BTC-USD
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
Orderly PERP_BTC_USDC
Bluefin BTC-PERP
Derive BTC-PERP
SunX BTC-USDT
HTX BTC-USDT
Jupiter Perps WBTC-PERP
Reya BTCRUSDPERP
Deribit BTC-PERPETUAL
GMX BTC/USD [WBTC.b-USDC]
Kalshi KXBTCPERP
Hibachi BTC/USDT-P
Aftermath Perps BTCUSD
RISEx BTC/USDC