Funding you earn now, next payment 08:00 UTC+0.0108%/8h= +11.8% APRnext payment +$0.13 per $10,000 · paid last 24h +0.038%
Price spread now: Coinbase International against gTrade (Gains Network)+0.035%7-day average +0.031% · 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−$18as in the Price arb table
costs, in and out, $10k−$180.180% of the position
Funding, last 4 days (all we have)+0.112%+$11 on $10k
+Price spread, last 4 days (all we have)−0.030%−$3 · spread now +0.035%, 7d avg +0.031%
=The price spread sits at its 7-day average of +0.031%, so right now this pair is about funding alone: +$3 a day on $10k at the current rate.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | gTrade (Gains Network) BTC/USD | 85,416.1 | L +0.0004% / S −0.0004% | pay 0.0001% / 1h | 57m 53s | $36.5M | — | 200x |
| Short | Coinbase International BTC-PERP-INTX | 85,446 | 0.0112 | get 0.0014% / 1h | 57m 53s | $111.9M | $5.47B | 50x |
gTrade (Gains Network) BTC/USD
Coinbase International BTC-PERP-INTXFunding history
latest
Range statsloading…
Price spread between the two exchanges
Coinbase International against gTrade (Gains Network). 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
- $22.58
- Price spread: +0.035% → +0.031%
- $0.44
- Slippage, 4 orders
- −$1.04
- Fee gTrade (Gains Network): 3.5 bp × 2 orders
- −$7
- Fee Coinbase International: 5 bp × 2 orders
- −$10
- Net
- $4.98
- Costs to cover
- 0.180%
- Break-even
- 5.5 days
Slippage from gTrade (Gains Network): virtual book (oracle venue), 1 min ago; Coinbase International: live order book, 1 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 gTrade (Gains Network) virtual book (oracle venue), 1 min ago | 0.51 bp | 4.0 bp −$4 | 4.1 bp −$41 | 4.5 bp −$446 | 6.4 bp −$3,181 |
| Sell Coinbase International live order book, 1 min ago | 0.01 bp | 5.0 bp −$5 | 5.0 bp −$50 | 5.4 bp −$543 | 11.5 bp −$5,749 |
BTC on 55 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 | |
|---|---|---|---|---|---|---|---|---|
| Phemex BTCUSDT | −0.0437% | 8h | 85,395.9 | −0.024% | $159.4M | $516.9M | 150x | as long as short |
| Hotstuff BTC-PERP | −0.0080% | 1h | 85,390 | −0.031% | $8K | $2K | 50x | as long as short |
| Phoenix BTC | −0.0034% | 1h | 85,341 | −0.088% | $2.3M | $10.4M | 40x | as long as short |
| Gate BTC_USDT | −0.0025% | 8h | 85,397.9 | −0.021% | $5.45B | $9.80B | 200x | as long as short |
| BloFin BTC-USDT | −0.0020% | 8h | 85,343.9 | −0.085% | $421.7M | $685.6M | 150x | as long as short |
| Injective BTC/USDC PERP | −0.0006% | 1h | 85,364 | −0.061% | $311K | $22.9M | 52x | as long as short |
| 01 Exchange BTCUSD | 0.0000% | 1h | 85,411.2 | −0.006% | $344K | $2.3M | 50x | as long as short |
| KuCoin XBTUSDTM | 0.0000% | 8h | 85,386.6 | −0.035% | $929.5M | $776.8M | 125x | as long as short |
| gTrade (Gains Network) BTC/USDlong | L +0.0004% / S −0.0004% | 1h | 85,416.1 | long leg | $36.5M | — | 200x | |
| Aster BTCUSDT | +0.0021% | 8h | 85,399.1 | −0.020% | $502.9M | $1.09B | 200x | as long as short |
Phemex BTCUSDT
Hotstuff BTC-PERP
Phoenix BTC
Gate BTC_USDT
BloFin BTC-USDT
Injective BTC/USDC PERP
01 Exchange BTCUSD
KuCoin XBTUSDTM
Aster BTCUSDTShow all 55 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Deribit BTC-PERPETUAL | +0.0022% | 1h | 85,427.9 | +0.014% | $829.3M | $1.67B | 50x | as long as short |
| dYdX BTC-USD | +0.0036% | 1h | 85,368.3 | −0.056% | $16.7M | $21.0M | 50x | as long as short |
| Kraken Futures PF_XBTUSD | +0.0068% | 1h | 85,409.3 | −0.008% | $186.4M | $953.8M | 100x | as long as short |
| BingX BTC-USDT | +0.0069% | 8h | 85,401.3 | −0.017% | — | $1.58B | — | as long as short |
| Nado BTC-PERP | +0.0089% | 1h | 85,379.9 | −0.042% | $24.1M | $220.1M | 50x | as long as short |
| Lighter BTC | +0.0096% | 1h | 85,402.4 | −0.016% | $169.6M | $935.7M | 50x | as long as short |
| Lighter RH BTC | +0.0096% | 1h | 85,405.1 | −0.013% | $23.6M | $133.2M | 50x | as long as short |
| Popdex BTCUSDT | +0.0096% | 1h | 85,411 | −0.006% | $8.7M | $57.8M | 100x | as long as short |
| Aevo BTC-PERP | +0.0096% | 1h | 85,408.1 | −0.009% | $2.4M | $6.7M | 20x | as long as short |
| ApeX Omni BTCUSDT | +0.0097% | 1h | 85,273.7 | −0.167% | $138.0M | $312.8M | 100x | as long as short |
| Paradex BTC-USD-PERP | +0.0100% | 8h | 85,419.6 | +0.004% | $5.7M | $9.6M | 50x | as long as short |
| Pacifica BTC | +0.0100% | 1h | 85,400.1 | −0.019% | $40.2M | $604.6M | 50x | as long as short |
| Binance BTCUSDT | +0.0100% | 8h | 85,400.2 | −0.019% | $9.41B | $25.21B | 150x | as long as short |
| Bybit BTCUSDT | +0.0100% | 8h | 85,404.7 | −0.013% | $5.09B | $10.03B | 150x | as long as short |
| OKX BTC-USDT-SWAP | +0.0100% | 8h | 85,406.3 | −0.011% | $2.61B | $12.26B | 100x | as long as short |
| Ondo Perps BTC-USD.P | +0.0100% | 1h | 85,395 | −0.025% | $3.8M | $17.4M | 25x | as long as short |
| Arcus BTC-USD | +0.0100% | 1h | 85,417.4 | +0.002% | $4.6M | $97.7M | 40x | as long as short |
| Bulk BTC-USD | +0.0100% | 1h | 85,382 | −0.040% | $697.9M | $180.4M | 40x | as long as short |
| MEXC BTC_USDT | +0.0100% | 8h | 85,394.3 | −0.026% | $5.03B | $5.71B | 500x | as long as short |
| Bitget BTCUSDT | +0.0100% | 8h | 85,397.4 | −0.022% | $2.97B | $5.19B | 150x | as long as short |
| Backpack BTC_USDC_PERP | +0.0100% | 1h | 85,388.2 | −0.033% | $37.5M | $192.4M | 75x | as long as short |
| Variational Omni BTC | +0.0100% | 8h | 85,265.8 | −0.176% | $155.3M | $548.8M | — | as long as short |
| edgeX BTCUSDC | +0.0100% | 4h | 85,267.5 | −0.174% | $282.8M | $959.2M | 100x | as long as short |
| GRVT BTC_USDT_Perp | +0.0100% | 8h | 85,283.5 | −0.155% | $214.0M | $159.0M | 50x | as long as short |
| StandX BTC-USD | +0.0100% | 1h | 85,270.7 | −0.170% | $30.1M | $216.2M | 40x | as long as short |
| Vest BTC-PERP | +0.0100% | 1h | 85,465.9 | +0.058% | — | $9.6M | 50x | as long as short |
| Polymarket Perps BTC-USD | +0.0100% | 1h | 85,343 | −0.086% | $10.9M | $15.0M | 50x | as long as short |
| Bullet BTC-USD | +0.0100% | 1h | 85,401.6 | −0.017% | $200K | $3.3M | 20x | as long as short |
| Orderly PERP_BTC_USDC | +0.0100% | 8h | 85,418.4 | +0.003% | $2.6M | $9.8M | 100x | as long as short |
| Bluefin BTC-PERP | +0.0100% | 1h | 85,458.4 | +0.050% | $194K | $796K | 40x | as long as short |
| SunX BTC-USDT | +0.0100% | 8h | 85,381.9 | −0.040% | $2.9M | $6.1M | 100x | as long as short |
| SoDEX BTC-USD | +0.0100% | 1h | 85,402 | −0.017% | $59.8M | $336.6M | 40x | as long as short |
| HTX BTC-USDT | +0.0100% | 8h | 85,398.3 | −0.021% | $2.26B | $976.3M | 200x | as long as short |
| Extended BTC-USD | +0.0104% | 1h | 85,375.6 | −0.047% | $45.7M | $241.9M | 50x | as long as short |
| Jupiter Perps WBTC-PERP | L +0.0104% / S +0.0056% | 1h | 85,371.7 | −0.052% | — | $106.7M | 500x | as long as short |
| Coinbase International BTC-PERP-INTXshort | +0.0112% | 1h | 85,446 | +0.035% | $111.9M | $5.47B | 50x | |
| Derive BTC-PERP | +0.0133% | 1h | 85,433.6 | +0.020% | $28.8M | $46.9M | 15x | as long as short |
| Reya BTCRUSDPERP | +0.0145% | 1h | 85,392.9 | −0.027% | $6.6M | $140.9M | 40x | as long as short |
| GMX BTC/USD [WBTC.b-USDC] | L +0.0174% / S −0.0149% | 1h | 85,408.1 | −0.009% | $13.0M | — | 200x | as long as short |
| Kalshi KXBTCPERP | +0.0175% | 8h | 85,430 | +0.016% | $12.1M | $739.9M | 6.4x | as long as short |
| RISEx BTC/USDC | +0.0194% | 1h | 85,414 | −0.002% | $8.9M | $42.9M | 25x | as long as short |
| Hyperliquid BTC | +0.0264% | 1h | 85,487 | +0.083% | $3.79B | $5.11B | 40x | as long as short |
| Aftermath Perps BTCUSD | +0.0285% | 1h | 85,319.7 | −0.113% | $81K | $249K | 20x | as long as short |
| Hibachi BTC/USDT-P | +0.0320% | 1h | 85,377.1 | −0.046% | $683K | $7.8M | 30x | as long as short |
| Perpl BTC | +0.0447% | 43m | 85,412.6 | −0.004% | $472K | $18.4M | 6.7x | as long as short |
Deribit BTC-PERPETUAL
dYdX BTC-USD
Kraken Futures PF_XBTUSD
BingX BTC-USDT
Nado BTC-PERP
Lighter BTC
Lighter RH BTC
Popdex BTCUSDT
Aevo BTC-PERP
ApeX Omni BTCUSDT
Paradex BTC-USD-PERP
Pacifica BTC
Binance BTCUSDT
Bybit BTCUSDT
OKX BTC-USDT-SWAP
Ondo Perps BTC-USD.P
Arcus BTC-USD
Bulk BTC-USD
MEXC BTC_USDT
Bitget BTCUSDT
Backpack BTC_USDC_PERP
Variational Omni BTC
edgeX BTCUSDC
GRVT BTC_USDT_Perp
StandX BTC-USD
Vest BTC-PERP
Polymarket Perps BTC-USD
Bullet BTC-USD
Orderly PERP_BTC_USDC
Bluefin BTC-PERP
SunX BTC-USDT
SoDEX BTC-USD
HTX BTC-USDT
Extended BTC-USD
Jupiter Perps WBTC-PERP
Derive BTC-PERP
Reya BTCRUSDPERP
GMX BTC/USD [WBTC.b-USDC]
Kalshi KXBTCPERP
RISEx BTC/USDC
Hyperliquid BTC
Aftermath Perps BTCUSD
Hibachi BTC/USDT-P
Perpl BTC