BTC

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0004%/8h= −0.4% APRnext payment −$0.04 per $10,000 · paid last 24h +0.002%

Price spread now: Bybit against Gate−0.004%7-day average +0.003% · you buy dearer than you sell

Net, funding: paid 7d − costs−$22as in the Funding arb table

Net, price: spread back to 7d avg − costs−$27as in the Price arb table

costs, in and out, $10k−$260.260% of the position

Long on Gate Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days+0.042%+$4 on $10k

Price spread, last 7 days+0.005%+$1 · spread now −0.004%, 7d avg +0.003%

Together, before fees+0.047%+$5 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate BTC_USDT	86,178.1	0.0035	pay 0.0035% / 8h	2h 17m	$5.45B	$6.75B	200x
Short	Bybit BTCUSDT	86,174.8	0.0031	get 0.0031% / 8h	2h 17m	$5.24B	$6.16B	150x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Gate. 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 GatebpFee BybitbpOrdersPrice spread, now −0.004%Rate

Funding earned: −$0.86
Price spread: −0.004% → +0.003%: −$0.66
Slippage, 4 orders: −$0.02
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$27.54
Costs to cover: 0.260%
Break-even: never at this rate

Slippage from Gate: live order book, 4 min ago; Bybit: live order book, 4 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 Gate live order book, 4 min ago	0.01 bp	7.5 bp −$8	7.8 bp −$78	9.9 bp −$987	17.1 bp −$8,525
Sell Bybit live order book, 4 min ago	0.01 bp	5.5 bp −$6	5.5 bp −$55	6.0 bp −$602	7.6 bp −$3,786

BTC on 56 exchanges

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
Phoenix BTC	−0.0139%	1h	86,250	+0.083%	$2.5M	$4.3M	40x	as long as short
dYdX BTC-USD	−0.0115%	1h	86,219.3	+0.048%	$17.0M	$6.8M	50x	as long as short
Perpl BTC	−0.0112%	43m	86,202.8	+0.029%	$634K	$11.8M	6.7x	as long as short
BloFin BTC-USDT	−0.0108%	8h	86,206.1	+0.032%	$422.2M	$322.9M	150x	as long as short
KuCoin XBTUSDTM	−0.0082%	8h	86,173.3	−0.006%	$988.9M	$532.7M	125x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	86,179	+0.001%	$8K	$440	50x	as long as short
Aster BTCUSDT	−0.0078%	8h	86,175	−0.004%	$505.8M	$411.2M	200x	as long as short
Phemex BTCUSDT	−0.0053%	8h	86,172	−0.007%	$181.1M	$422.2M	150x	as long as short
Kraken Futures PF_XBTUSD	−0.0053%	1h	86,218	+0.046%	$197.5M	$492.5M	100x	as long as short
BingX BTC-USDC	−0.0030%	8h	86,178.2	0.000%	—	$14.5M	—	as long as short

Show all 56 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance BTCUSDT	−0.0027%	8h	86,176.4	−0.002%	$9.22B	$14.64B	150x	as long as short
MEXC BTC_USDT	−0.0026%	8h	86,176.5	−0.002%	$5.36B	$3.46B	500x	as long as short
Bitget BTCUSDT	−0.0025%	8h	86,173.1	−0.006%	$2.97B	$2.88B	150x	as long as short
Aevo BTC-PERP	−0.0024%	1h	86,178.5	0.000%	$2.4M	$7.2M	20x	as long as short
Nado BTC-PERP	−0.0022%	1h	86,174.4	−0.004%	$23.4M	$189.6M	50x	as long as short
ApeX Omni BTCUSDT	−0.0019%	1h	86,194.4	+0.019%	$140.3M	$271.4M	100x	as long as short
01 Exchange BTCUSD	0.0000%	1h	86,220.1	+0.049%	$359K	$1.4M	50x	as long as short
Kalshi KXBTCPERP	0.0000%	8h	86,226	+0.056%	$13.8M	$668.5M	6.4x	as long as short
OKX BTC-USDT-SWAP	+0.0001%	8h	86,183.9	+0.007%	$2.63B	$6.53B	100x	as long as short
Aftermath Perps BTCUSD	+0.0003%	1h	86,248.8	+0.082%	$83K	$188K	20x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0004% / S −0.0004%	1h	86,216.3	+0.044%	$37.0M	—	200x	as long as short
Variational Omni BTC	+0.0005%	8h	86,213.9	+0.042%	$160.8M	$348.1M	—	as long as short
SoDEX BTC-USD	+0.0011%	1h	86,176	−0.002%	$65.7M	$57.6M	40x	as long as short
Injective BTC/USDC PERP	+0.0015%	1h	86,236	+0.067%	$310K	$28.6M	52x	as long as short
HTX BTC-USDT	+0.0016%	8h	86,184.5	+0.007%	$2.27B	$441.6M	200x	as long as short
Bybit BTCUSDTshort	+0.0031%	8h	86,174.8	−0.004%	$5.24B	$6.16B	150x
Arcus BTC-USD	+0.0035%	1h	86,176.6	−0.002%	$5.7M	$86.6M	40x	as long as short
Bulk BTC-USD	+0.0035%	1h	86,245	+0.078%	$722.3M	$19.7M	40x	as long as short
Gate BTC_USDTlong	+0.0035%	8h	86,178.1	long leg	$5.45B	$6.75B	200x
Polymarket Perps BTC-USD	+0.0036%	1h	86,180	+0.002%	$11.0M	$9.1M	50x	as long as short
GRVT BTC_USDT_Perp	+0.0036%	8h	86,209.5	+0.036%	$216.7M	$122.3M	50x	as long as short
StandX BTC-USD	+0.0044%	1h	86,184.1	+0.007%	$29.8M	$232.3M	40x	as long as short
Orderly PERP_BTC_USDC	+0.0049%	8h	86,194.7	+0.019%	$2.6M	$7.8M	100x	as long as short
RISEx BTC/USDC	+0.0076%	1h	86,217.2	+0.045%	$9.7M	$30.0M	25x	as long as short
Coinbase International BTC-PERP-INTX	+0.0088%	1h	86,241.2	+0.073%	$110.2M	$5.15B	50x	as long as short
Bullet BTC-USD	+0.0092%	1h	86,182	+0.005%	$188K	$3.0M	20x	as long as short
Lighter BTC	+0.0096%	1h	86,182.6	+0.005%	$176.5M	$662.2M	50x	as long as short
Lighter RH BTC	+0.0096%	1h	86,183.7	+0.006%	$24.6M	$87.2M	50x	as long as short
Popdex BTCUSDT	+0.0096%	1h	86,188	+0.011%	$9.0M	$32.4M	100x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	86,178	0.000%	$177K	$7.1M	50x	as long as short
Hyperliquid BTC	+0.0100%	1h	86,245	+0.078%	$3.99B	$2.68B	40x	as long as short
Pacifica BTC	+0.0100%	1h	86,223.4	+0.053%	$40.3M	$529.4M	50x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	86,183	+0.006%	$3.7M	$12.3M	25x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	86,186.2	+0.009%	$36.5M	$168.7M	75x	as long as short
edgeX BTCUSDC	+0.0100%	4h	86,216.2	+0.044%	$288.3M	$553.6M	100x	as long as short
Vest BTC-PERP	+0.0100%	1h	86,244.7	+0.077%	—	$9.2M	50x	as long as short
Bluefin BTC-PERP	+0.0100%	1h	86,228.5	+0.058%	$144K	$477K	40x	as long as short
Derive BTC-PERP	+0.0100%	1h	86,260.8	+0.096%	$28.8M	$32.0M	15x	as long as short
SunX BTC-USDT	+0.0100%	8h	86,216.2	+0.044%	$2.9M	$7.0M	100x	as long as short
Paradex BTC-USD-PERP	+0.0100%	8h	86,239.1	+0.071%	$5.9M	$5.1M	50x	as long as short
Reya BTCRUSDPERP	+0.0104%	1h	86,162.5	−0.018%	$7.1M	$110.0M	40x	as long as short
Extended BTC-USD	+0.0104%	1h	86,170.2	−0.009%	$48.5M	$119.2M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0056%	1h	86,219.3	+0.048%	—	$52.0M	500x	as long as short
Deribit BTC-PERPETUAL	+0.0109%	1h	86,247.9	+0.081%	$845.3M	$1.11B	50x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0180% / S −0.0154%	1h	86,216.1	+0.044%	$17.1M	—	200x	as long as short
Hibachi BTC/USDT-P	+0.0296%	1h	86,270.6	+0.107%	$845K	$5.5M	30x	as long as short