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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−0.0184%/8h= −20.1% APRnext payment −$0.23 per $10,000 · paid last 24h −0.053%
Price spread now: Hotstuff against Extended+0.028%7-day average — · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Long on ExtendedShort on Hotstuff
What this pair did over the last
the charts below follow
Funding, last 3 days (all we have)—no history yet
Price spread, last 7 days—no price history on both exchanges yet
Together, before fees—+ Points / potential airdropExtended: Active · Hotstuff: Active · farm boardneeds both histories
The price spread pays, funding is against you. Hotstuff is 0.028% dearer against Extended than usual: you sell high and buy low (spread +0.028% now, against zero (this spread has no 7-day history yet)): +$3 on $10k if it goes back. Holding the pair costs −$6 a day in funding at the current rate, which eats that in about 12 hours.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongExtended BTC-USD86,436.10.0104pay 0.0013% / 1h9m 26s$45.7M$227.6M50x
ShortHotstuff BTC-PERP86,460−0.0080pay 0.0010% / 1h9m 26s$9K$3K50x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Hotstuff against Extended. 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
−$38.64
Price spread: +0.028% → 0.000%
$2.77
Slippage, 4 orders
no order book: not counted
Fee Extended: 2.5 bp × 2 orders
−$5
Fee Hotstuff: 2.5 bp × 2 orders
−$5
Net
−$45.87
Costs to cover
0.100%
Break-even
never at this rate
Slippage unknown: Extended: live order book, 5 min ago; Hotstuff: 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 Extended live order book, 5 min ago0.06 bp2.6 bp −$32.6 bp −$262.8 bp −$2808.5 bp −$4,252
Sell Hotstuff no order-book sample—————
Hotstuff: 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−0.0118%1h86,444+0.009%$2.2M$11.8M40xas long as short
Hotstuff BTC-PERPshort−0.0080%1h86,460+0.028%$9K$3K50x
Injective BTC/USDC PERP−0.0035%1h86,345−0.105%$332K$26.9M52xas long as short
RISEx BTC/USDC−0.0024%1h86,468.1+0.037%$8.3M$42.8M25xas long as short
01 Exchange BTCUSD−0.0016%1h86,480.4+0.051%$358K$2.4M50xas long as short
Perpl BTC0.0000%43m86,474.2+0.044%$413K$22.4M6.7xas long as short
gTrade (Gains Network) BTC/USDL +0.0005% / S −0.0005%1h86,499.1+0.073%$36.8M—200xas long as short
Aster BTCUSDT+0.0008%8h86,488.3+0.060%$501.7M$1.15B200xas long as short
KuCoin XBTUSDTM+0.0022%8h86,465.6+0.034%$834.1M$728.6M125xas long as short
Reya BTCRUSDPERP+0.0036%1h86,471.1+0.040%$6.7M$145.5M40xas long as short
Show all 56 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
BingX BTC-USDC+0.0043%8h86,472+0.042%—$15.4M—as long as short
Bitget BTCUSDT+0.0055%8h86,480.2+0.051%$2.97B$5.13B150xas long as short
Phemex BTCUSDT+0.0055%8h86,447.4+0.013%$150.8M$478.6M150xas long as short
dYdX BTC-USD+0.0062%1h86,456.7+0.024%$16.9M$21.2M50xas long as short
Aevo BTC-PERP+0.0072%1h86,469.6+0.039%$2.5M$1.4M20xas long as short
MEXC BTC_USDT+0.0073%8h86,474.6+0.045%$5.16B$5.69B500xas long as short
Binance BTCUSDT+0.0074%8h86,482.3+0.053%$9.44B$24.55B150xas long as short
Gate BTC_USDT+0.0082%8h86,477.9+0.048%$5.85B$10.81B200xas long as short
Lighter BTC+0.0096%1h86,478.6+0.049%$170.2M$1.02B50xas long as short
Lighter RH BTC+0.0096%1h86,487+0.059%$23.9M$152.7M50xas long as short
Popdex BTCUSDT+0.0096%1h86,453+0.020%$8.5M$52.3M100xas long as short
Bybit BTCUSDT+0.0099%8h86,484.3+0.056%$5.26B$9.80B150xas long as short
Katana Perps BTC-USD+0.0100%8h86,441+0.006%$196K$7.1M50xas long as short
Paradex BTC-USD-PERP+0.0100%8h86,497.1+0.071%$4.8M$8.5M50xas long as short
Nado BTC-PERP+0.0100%1h86,454.3+0.021%$21.8M$234.1M50xas long as short
Hyperliquid BTC+0.0100%1h86,532+0.111%$3.79B$5.10B40xas long as short
Pacifica BTC+0.0100%1h86,494.7+0.068%$41.1M$538.1M50xas long as short
OKX BTC-USDT-SWAP+0.0100%8h86,498.5+0.072%$2.55B$12.73B100xas long as short
Ondo Perps BTC-USD.P+0.0100%1h86,474+0.044%$3.9M$18.4M25xas long as short
Arcus BTC-USD+0.0100%1h86,491.8+0.064%$7.3M$96.0M40xas long as short
Backpack BTC_USDC_PERP+0.0100%1h86,452.4+0.019%$38.0M$156.5M75xas long as short
Variational Omni BTC+0.0100%8h86,407.7−0.033%$157.0M$567.1M—as long as short
edgeX BTCUSDC+0.0100%4h86,408.7−0.032%$279.1M$946.0M100xas long as short
GRVT BTC_USDT_Perp+0.0100%8h86,429.2−0.008%$217.0M$172.4M50xas long as short
ApeX Omni BTCUSDT+0.0100%1h86,423.1−0.015%$141.3M$323.1M100xas long as short
StandX BTC-USD+0.0100%1h86,460.1+0.028%$30.7M$206.5M40xas long as short
Vest BTC-PERP+0.0100%1h86,499.5+0.073%—$11.9M50xas long as short
Polymarket Perps BTC-USD+0.0100%1h86,465+0.033%$11.1M$14.0M50xas long as short
Bullet BTC-USD+0.0100%1h86,481.3+0.052%$193K$3.3M20xas long as short
Orderly PERP_BTC_USDC+0.0100%8h86,479.4+0.050%$2.5M$9.4M100xas long as short
Bluefin BTC-PERP+0.0100%1h86,517.8+0.095%$141K$664K40xas long as short
Derive BTC-PERP+0.0100%1h86,513.7+0.090%$30.5M$62.6M15xas long as short
SunX BTC-USDT+0.0100%8h86,462.8+0.031%$3.4M$5.3M100xas long as short
SoDEX BTC-USD+0.0100%1h86,446+0.011%$60.5M$338.1M40xas long as short
HTX BTC-USDT+0.0100%8h86,458.8+0.026%$2.29B$968.2M200xas long as short
Bulk BTC-USD+0.0100%1h86,452.9+0.019%$572.2M$12.3M40xas long as short
Extended BTC-USDlong+0.0104%1h86,436.1long leg$45.7M$227.6M50x
Jupiter Perps WBTC-PERPL +0.0104% / S +0.0048%1h86,468.3+0.037%—$100.0M500xas long as short
Kraken Futures PF_XBTUSD+0.0110%1h86,474.3+0.044%$192.9M$953.3M100xas long as short
Coinbase International BTC-PERP-INTX+0.0112%1h86,480.4+0.051%$132.2M$5.64B50xas long as short
Aftermath Perps BTCUSD+0.0159%1h86,475.5+0.046%$78K$219K20xas long as short
Hibachi BTC/USDT-P+0.0184%1h86,484.8+0.056%$717K$8.1M30xas long as short
BloFin BTC-USDT+0.0194%8h86,439.9+0.004%$415.1M$658.6M150xas long as short
GMX BTC/USD [WBTC.b-USDC]L +0.0199% / S −0.0223%1h86,489.7+0.062%$15.0M—200xas long as short
Kalshi KXBTCPERP+0.0207%8h86,476+0.046%$10.0M$751.4M6.4xas long as short
Deribit BTC-PERPETUAL+0.0350%1h86,507+0.082%$913.2M$1.49B50xas long as short