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Funding arb · Price arb /

BTC

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Alert: funding
Measured
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Alert: spread
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Funding you earn now, next payment 00:00 UTC−0.0004%/8h= −0.5% APRpaid last 24h −0.001%
Price spread now: Bybit against Extended+0.012%7-day average +0.037% · you sell dearer than you buy
Net, funding: paid 7d − costs−$23as in the Funding arb table
Net, price: spread back to 7d avg − costs−$19as in the Price arb table
costs, in and out, $10k−$160.161% of the position
Long on ExtendedShort on Bybit
What this pair did over the last
the charts below follow
Funding, last 7 days−0.073%−$7 on $10k
Price spread, last 7 days−0.010%−$1 · spread now +0.012%, 7d avg +0.037%
Together, before fees−0.083%+ Points / potential airdropExtended: Active · farm board−$8 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: Bybit is 0.025% cheaper against Extended than usual: you would sell low and buy high, −$2 on $10k if it goes back to its 7-day average of +0.037%.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongExtended BTC-USD86,475.30.0104pay 0.0013% / 1h33m 14s$45.5M$227.3M50x
ShortBybit BTCUSDT86,485.90.0100get 0.0100% / 8h33m 14s$5.26B$9.81B150x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Bybit against Extended. Falling: the short leg gains. Rising: it loses.
latest
Price spreadloading…

Funding on every exchange

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latest
How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Funding earned
−$0.92
Price spread: +0.012% → +0.037%
−$2.46
Slippage, 4 orders
−$0.13
Fee Extended: 2.5 bp × 2 orders
−$5
Fee Bybit: 5.5 bp × 2 orders
−$11
Net
−$19.51
Costs to cover
0.161%
Break-even
never at this rate
Slippage from Extended: live order book, 6 min ago; Bybit: live order book, 1 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy Extended live order book, 6 min ago0.06 bp2.6 bp −$32.6 bp −$262.6 bp −$2578.0 bp −$4,009
Sell Bybit live order book, 1 min ago0.01 bp5.5 bp −$65.5 bp −$555.6 bp −$5586.9 bp −$3,436

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−0.0118%1h86,543+0.078%$2.2M$11.8M40xas long as short
Hotstuff BTC-PERP−0.0080%1h86,481+0.007%$9K$3K50xas long as short
Injective BTC/USDC PERP−0.0035%1h86,568+0.107%$333K$26.8M52xas long as short
RISEx BTC/USDC−0.0024%1h86,504.5+0.034%$8.3M$42.9M25xas long as short
01 Exchange BTCUSD−0.0024%1h86,506.4+0.036%$358K$2.5M50xas long as short
Aster BTCUSDT0.0000%8h86,488.9+0.016%$501.6M$1.15B200xas long as short
gTrade (Gains Network) BTC/USDL +0.0005% / S −0.0004%1h86,511.9+0.042%$36.8M—200xas long as short
KuCoin XBTUSDTM+0.0016%8h86,492+0.019%$850.6M$715.5M125xas long as short
Reya BTCRUSDPERP+0.0029%1h86,492.2+0.020%$6.7M$145.4M40xas long as short
dYdX BTC-USD+0.0037%1h86,539+0.074%$17.0M$21.1M50xas long as short
Show all 56 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
BingX BTC-USDT+0.0042%8h86,491.7+0.019%—$1.59B—as long as short
Deribit BTC-PERPETUAL+0.0045%1h86,532.8+0.066%$915.2M$1.48B50xas long as short
Phemex BTCUSDT+0.0049%8h86,493.6+0.021%$150.7M$478.6M150xas long as short
Bitget BTCUSDT+0.0052%8h86,484.2+0.010%$2.96B$5.13B150xas long as short
MEXC BTC_USDT+0.0071%8h86,490.4+0.017%$5.16B$5.65B500xas long as short
Binance BTCUSDT+0.0071%8h86,490.4+0.017%$9.43B$24.57B150xas long as short
Aevo BTC-PERP+0.0072%1h86,481.3+0.007%$2.4M$1.3M20xas long as short
Gate BTC_USDT+0.0083%8h86,495.6+0.023%$5.87B$10.76B200xas long as short
SoDEX BTC-USD+0.0093%1h86,491+0.018%$60.5M$337.8M40xas long as short
Lighter BTC+0.0096%1h86,497.5+0.026%$170.3M$1.01B50xas long as short
Lighter RH BTC+0.0096%1h86,500.9+0.030%$24.0M$151.9M50xas long as short
Popdex BTCUSDT+0.0096%1h86,490+0.017%$8.5M$52.5M100xas long as short
Bybit BTCUSDTshort+0.0100%8h86,485.9+0.012%$5.26B$9.81B150x
Katana Perps BTC-USD+0.0100%8h86,470−0.006%$198K$7.0M50xas long as short
Paradex BTC-USD-PERP+0.0100%8h86,515.5+0.047%$4.8M$8.5M50xas long as short
Nado BTC-PERP+0.0100%1h86,484+0.010%$21.8M$234.7M50xas long as short
Hyperliquid BTC+0.0100%1h86,564+0.103%$3.80B$5.11B40xas long as short
Pacifica BTC+0.0100%1h86,521.9+0.054%$40.8M$527.8M50xas long as short
OKX BTC-USDT-SWAP+0.0100%8h86,495.6+0.023%$2.55B$12.73B100xas long as short
Ondo Perps BTC-USD.P+0.0100%1h86,498+0.026%$3.9M$18.6M25xas long as short
Arcus BTC-USD+0.0100%1h86,530.6+0.064%$7.6M$95.1M40xas long as short
Backpack BTC_USDC_PERP+0.0100%1h86,489.8+0.017%$38.3M$154.8M75xas long as short
Variational Omni BTC+0.0100%8h86,514.5+0.045%$157.4M$567.9M—as long as short
edgeX BTCUSDC+0.0100%4h86,535.4+0.069%$279.5M$947.1M100xas long as short
GRVT BTC_USDT_Perp+0.0100%8h86,546.5+0.082%$217.3M$171.6M50xas long as short
ApeX Omni BTCUSDT+0.0100%1h86,514.6+0.045%$141.4M$323.1M100xas long as short
StandX BTC-USD+0.0100%1h86,500.3+0.029%$30.7M$205.1M40xas long as short
Vest BTC-PERP+0.0100%1h86,536.1+0.070%—$11.9M50xas long as short
Polymarket Perps BTC-USD+0.0100%1h86,488+0.015%$11.1M$13.8M50xas long as short
Bullet BTC-USD+0.0100%1h86,490.9+0.018%$189K$3.3M20xas long as short
Orderly PERP_BTC_USDC+0.0100%8h86,493.4+0.021%$2.4M$9.0M100xas long as short
Bluefin BTC-PERP+0.0100%1h86,523+0.055%$140K$663K40xas long as short
Derive BTC-PERP+0.0100%1h86,526.6+0.059%$30.6M$62.6M15xas long as short
SunX BTC-USDT+0.0100%8h86,504.4+0.034%$3.4M$5.4M100xas long as short
HTX BTC-USDT+0.0100%8h86,470.9−0.005%$2.30B$969.8M200xas long as short
Bulk BTC-USD+0.0100%1h86,562.5+0.101%$572.7M$17.7M40xas long as short
Extended BTC-USDlong+0.0104%1h86,475.3long leg$45.5M$227.3M50x
Jupiter Perps WBTC-PERPL +0.0104% / S +0.0048%1h86,518.9+0.050%—$98.8M500xas long as short
Kraken Futures PF_XBTUSD+0.0110%1h86,523.8+0.056%$194.1M$952.2M100xas long as short
Perpl BTC+0.0112%43m86,503.5+0.033%$416K$23.1M6.7xas long as short
Coinbase International BTC-PERP-INTX+0.0112%1h86,536+0.070%$132.4M$5.66B50xas long as short
Aftermath Perps BTCUSD+0.0135%1h86,553.3+0.090%$79K$218K20xas long as short
BloFin BTC-USDT+0.0191%8h86,490.5+0.018%$415.4M$658.5M150xas long as short
Hibachi BTC/USDT-P+0.0192%1h86,544+0.079%$728K$8.1M30xas long as short
GMX BTC/USD [WBTC.b-USDC]L +0.0194% / S −0.0216%1h86,506.4+0.036%$15.0M—200xas long as short
Kalshi KXBTCPERP+0.0208%8h86,522+0.054%$9.7M$745.4M6.4xas long as short