Funding you earn now, next payment 04:00 UTC+0.0180%/8h= +19.7% APRnext payment +$0.23 per $10,000 · paid last 24h +0.051%
Price spread now: Backpack against Hotstuff+0.003%7-day average — · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 4 days (all we have)—no history yet
+Price spread, last 7 days—no price history on both exchanges yet
=The price spread sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: +$5 a day on $10k at the current rate.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Hotstuff BTC-PERP | 85,528 | −0.0080 | get 0.0010% / 1h | 31m 37s | $8K | $3K | 50x |
| Short | Backpack BTC_USDC_PERP | 85,530.9 | 0.0100 | get 0.0013% / 1h | 31m 37s | $35.7M | $176.3M | 75x |
Hotstuff BTC-PERP
Backpack BTC_USDC_PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Backpack against Hotstuff. 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
- $37.8
- Price spread: +0.003% → 0.000%
- $0.34
- Slippage, 4 orders
- no order book: not counted
- Fee Hotstuff: 2.5 bp × 2 orders
- −$5
- Fee Backpack: 5 bp × 2 orders
- −$10
- Net
- $23.14
- Costs to cover
- 0.150%
- Break-even
- 2.7 days
Slippage unknown: Hotstuff: no order-book sample; Backpack: live order book, 3 min ago. Net counts fees only.
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 Hotstuff no order-book sample | — | — | — | — | — |
| Sell Backpack live order book, 3 min ago | 0.01 bp | 5.0 bp −$5 | 5.0 bp −$50 | 5.6 bp −$565 | 18.8 bp −$9,401 |
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.| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Phoenix BTC | −0.0179% | 1h | 85,363 | −0.193% | $2.2M | $10.3M | 40x | as long as short |
| Hotstuff BTC-PERPlong | −0.0080% | 1h | 85,528 | long leg | $8K | $3K | 50x | |
| 01 Exchange BTCUSD | −0.0056% | 1h | 85,559.9 | +0.037% | $365K | $2.3M | 50x | as long as short |
| BloFin BTC-USDT | −0.0027% | 8h | 85,495.5 | −0.038% | $417.6M | $667.5M | 150x | as long as short |
| KuCoin XBTUSDTM | −0.0014% | 8h | 85,559.9 | +0.037% | $921.4M | $750.4M | 125x | as long as short |
| Bluefin BTC-PERP | −0.0013% | 1h | 85,567.6 | +0.046% | $207K | $738K | 40x | as long as short |
| gTrade (Gains Network) BTC/USD | L +0.0005% / S −0.0004% | 1h | 85,534 | +0.007% | $36.5M | — | 200x | as long as short |
| Aster BTCUSDT | +0.0015% | 8h | 85,585.8 | +0.068% | $515.8M | $1.10B | 200x | as long as short |
| dYdX BTC-USD | +0.0016% | 1h | 85,591.7 | +0.075% | $16.7M | $21.3M | 50x | as long as short |
| Arcus BTC-USD | +0.0021% | 1h | 85,567.8 | +0.047% | $4.8M | $97.8M | 40x | as long as short |
Phoenix BTC
01 Exchange BTCUSD
BloFin BTC-USDT
KuCoin XBTUSDTM
Bluefin BTC-PERP
gTrade (Gains Network) BTC/USD
Aster BTCUSDT
dYdX BTC-USD
Arcus BTC-USDShow all 56 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Nado BTC-PERP | +0.0037% | 1h | 85,558.7 | +0.036% | $25.6M | $221.8M | 50x | as long as short |
| BingX BTC-USDT | +0.0061% | 8h | 85,588.5 | +0.071% | — | $1.55B | — | as long as short |
| Bitget BTCUSDT | +0.0077% | 8h | 85,587 | +0.069% | $2.95B | $5.06B | 150x | as long as short |
| Reya BTCRUSDPERP | +0.0081% | 1h | 85,511 | −0.020% | $6.7M | $146.7M | 40x | as long as short |
| Phemex BTCUSDT | +0.0087% | 8h | 85,521.4 | −0.008% | $148.3M | $486.0M | 150x | as long as short |
| MEXC BTC_USDT | +0.0093% | 8h | 85,588.6 | +0.071% | $5.06B | $5.62B | 500x | as long as short |
| Binance BTCUSDT | +0.0096% | 8h | 85,584.9 | +0.067% | $9.37B | $24.11B | 150x | as long as short |
| Lighter BTC | +0.0096% | 1h | 85,596.9 | +0.081% | $173.2M | $1.01B | 50x | as long as short |
| Lighter RH BTC | +0.0096% | 1h | 85,599 | +0.083% | $23.8M | $148.9M | 50x | as long as short |
| Popdex BTCUSDT | +0.0096% | 1h | 85,562 | +0.040% | $8.4M | $52.8M | 100x | as long as short |
| Aevo BTC-PERP | +0.0096% | 1h | 85,522.4 | −0.007% | $2.5M | $1.7M | 20x | as long as short |
| Katana Perps BTC-USD | +0.0100% | 8h | 85,529 | +0.001% | $212K | $8.0M | 50x | as long as short |
| Paradex BTC-USD-PERP | +0.0100% | 8h | 85,638.5 | +0.129% | $4.5M | $8.7M | 50x | as long as short |
| Hyperliquid BTC | +0.0100% | 1h | 85,633 | +0.123% | $3.75B | $4.98B | 40x | as long as short |
| Pacifica BTC | +0.0100% | 1h | 85,610.5 | +0.096% | $40.1M | $578.1M | 50x | as long as short |
| Bybit BTCUSDT | +0.0100% | 8h | 85,560.2 | +0.038% | $5.22B | $9.77B | 150x | as long as short |
| OKX BTC-USDT-SWAP | +0.0100% | 8h | 85,569.5 | +0.049% | $2.58B | $12.16B | 100x | as long as short |
| Ondo Perps BTC-USD.P | +0.0100% | 1h | 85,576 | +0.056% | $3.9M | $18.1M | 25x | as long as short |
| Gate BTC_USDT | +0.0100% | 8h | 85,590.2 | +0.073% | $5.51B | $10.68B | 200x | as long as short |
| Backpack BTC_USDC_PERPshort | +0.0100% | 1h | 85,530.9 | +0.003% | $35.7M | $176.3M | 75x | |
| Variational Omni BTC | +0.0100% | 8h | 85,260.9 | −0.312% | $153.4M | $563.6M | — | as long as short |
| edgeX BTCUSDC | +0.0100% | 4h | 85,356.5 | −0.200% | $278.9M | $919.2M | 100x | as long as short |
| GRVT BTC_USDT_Perp | +0.0100% | 8h | 85,388.8 | −0.163% | $214.3M | $169.8M | 50x | as long as short |
| ApeX Omni BTCUSDT | +0.0100% | 1h | 85,483.1 | −0.052% | $139.8M | $314.8M | 100x | as long as short |
| StandX BTC-USD | +0.0100% | 1h | 85,509.7 | −0.021% | $30.2M | $207.9M | 40x | as long as short |
| Vest BTC-PERP | +0.0100% | 1h | 85,559.8 | +0.037% | — | $11.8M | 50x | as long as short |
| Polymarket Perps BTC-USD | +0.0100% | 1h | 85,517 | −0.013% | $11.0M | $14.2M | 50x | as long as short |
| Bullet BTC-USD | +0.0100% | 1h | 85,527.6 | 0.000% | $191K | $3.3M | 20x | as long as short |
| Orderly PERP_BTC_USDC | +0.0100% | 8h | 85,529.5 | +0.002% | $2.4M | $8.9M | 100x | as long as short |
| Derive BTC-PERP | +0.0100% | 1h | 85,519.7 | −0.010% | $30.0M | $50.9M | 15x | as long as short |
| SunX BTC-USDT | +0.0100% | 8h | 85,483.1 | −0.052% | $2.9M | $6.1M | 100x | as long as short |
| SoDEX BTC-USD | +0.0100% | 1h | 85,532 | +0.005% | $59.9M | $336.1M | 40x | as long as short |
| HTX BTC-USDT | +0.0100% | 8h | 85,525 | −0.004% | $2.26B | $942.2M | 200x | as long as short |
| Bulk BTC-USD | +0.0100% | 1h | 85,369.3 | −0.186% | $653.8M | $618.7M | 40x | as long as short |
| Extended BTC-USD | +0.0104% | 1h | 85,559.3 | +0.037% | $44.2M | $227.0M | 50x | as long as short |
| Jupiter Perps WBTC-PERP | L +0.0104% / S +0.0056% | 1h | 85,523.3 | −0.005% | — | $107.2M | 500x | as long as short |
| Coinbase International BTC-PERP-INTX | +0.0104% | 1h | 85,572.1 | +0.052% | $116.9M | $5.18B | 50x | as long as short |
| Deribit BTC-PERPETUAL | +0.0119% | 1h | 85,571 | +0.050% | $894.6M | $1.54B | 50x | as long as short |
| Injective BTC/USDC PERP | +0.0150% | 1h | 85,539 | +0.013% | $340K | $26.9M | 52x | as long as short |
| Kraken Futures PF_XBTUSD | +0.0170% | 1h | 85,554 | +0.030% | $187.6M | $955.8M | 100x | as long as short |
| RISEx BTC/USDC | +0.0194% | 1h | 85,589.8 | +0.072% | $8.3M | $42.5M | 25x | as long as short |
| Hibachi BTC/USDT-P | +0.0200% | 1h | 85,502.6 | −0.030% | $697K | $7.9M | 30x | as long as short |
| Aftermath Perps BTCUSD | +0.0202% | 1h | 85,467.5 | −0.071% | $78K | $219K | 20x | as long as short |
| GMX BTC/USD [WBTC.b-USDC] | L +0.0202% / S −0.0178% | 1h | 85,533.6 | +0.007% | $13.4M | — | 200x | as long as short |
| Kalshi KXBTCPERP | +0.0217% | 8h | 85,558 | +0.035% | $10.4M | $758.9M | 6.4x | as long as short |
| Perpl BTC | +0.0447% | 43m | 85,525.1 | −0.003% | $506K | $18.8M | 6.7x | as long as short |
Nado BTC-PERP
BingX BTC-USDT
Bitget BTCUSDT
Reya BTCRUSDPERP
Phemex BTCUSDT
MEXC BTC_USDT
Binance BTCUSDT
Lighter BTC
Lighter RH BTC
Popdex BTCUSDT
Aevo BTC-PERP
Katana Perps BTC-USD
Paradex BTC-USD-PERP
Hyperliquid BTC
Pacifica BTC
Bybit BTCUSDT
OKX BTC-USDT-SWAP
Ondo Perps BTC-USD.P
Gate BTC_USDT
Variational Omni BTC
edgeX BTCUSDC
GRVT BTC_USDT_Perp
ApeX Omni BTCUSDT
StandX BTC-USD
Vest BTC-PERP
Polymarket Perps BTC-USD
Bullet BTC-USD
Orderly PERP_BTC_USDC
Derive BTC-PERP
SunX BTC-USDT
SoDEX BTC-USD
HTX BTC-USDT
Bulk BTC-USD
Extended BTC-USD
Jupiter Perps WBTC-PERP
Coinbase International BTC-PERP-INTX
Deribit BTC-PERPETUAL
Injective BTC/USDC PERP
Kraken Futures PF_XBTUSD
RISEx BTC/USDC
Hibachi BTC/USDT-P
Aftermath Perps BTCUSD
GMX BTC/USD [WBTC.b-USDC]
Kalshi KXBTCPERP
Perpl BTC