Funding you earn now, next payment 05:00 UTC+0.0180%/8h= +19.7% APRnext payment +$0.23 per $10,000 · paid last 24h +0.054%
Price spread now: Bullet against Hotstuff+0.057%7-day average — · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 3 days (all we have)—no history yet
+Price spread, last 7 days—no price history on both exchanges yet
=Both sides work for this trade now. Funding pays +$5 a day on $10k at the current rate, and Bullet is 0.057% dearer against Hotstuff than usual: you sell high and buy low: +$6 more if the spread goes back to zero (this spread has no 7-day history yet).
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Hotstuff BTC-PERP | 85,531 | −0.0080 | get 0.0010% / 1h | 31m 28s | $8K | $3K | 50x |
| Short | Bullet BTC-USD | 85,580 | 0.0100 | get 0.0013% / 1h | 31m 28s | $197K | $3.3M | 20x |
Hotstuff BTC-PERP
Bullet BTC-USDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Bullet 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: +0.057% → 0.000%
- $5.73
- Slippage, 4 orders
- no order book: not counted
- Fee Hotstuff: 2.5 bp × 2 orders
- −$5
- Fee Bullet: 4 bp × 2 orders
- −$8
- Net
- $30.53
- Costs to cover
- 0.130%
- Break-even
- 1.3 days
Slippage unknown: Hotstuff: no order-book sample; Bullet: 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 Bullet live order book, 3 min ago | 0.23 bp | 4.5 bp −$4 | 7.3 bp −$73 | doesn't fit | doesn't fit |
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 | −0.0140% | 1h | 85,533 | +0.002% | $2.1M | $10.4M | 40x | as long as short |
| Hotstuff BTC-PERPlong | −0.0080% | 1h | 85,531 | long leg | $8K | $3K | 50x | |
| KuCoin XBTUSDTM | −0.0041% | 8h | 85,513.6 | −0.020% | $918.6M | $756.7M | 125x | as long as short |
| BloFin BTC-USDT | −0.0020% | 8h | 85,545.5 | +0.017% | $419.4M | $674.9M | 150x | as long as short |
| 01 Exchange BTCUSD | −0.0016% | 1h | 85,587.7 | +0.066% | $366K | $2.3M | 50x | as long as short |
| Aster BTCUSDT | +0.0003% | 8h | 85,562.7 | +0.037% | $515.3M | $1.10B | 200x | as long as short |
| Nado BTC-PERP | +0.0003% | 1h | 85,521.7 | −0.011% | $24.7M | $223.0M | 50x | as long as short |
| gTrade (Gains Network) BTC/USD | L +0.0004% / S −0.0004% | 1h | 85,532 | +0.001% | $36.5M | — | 200x | as long as short |
| dYdX BTC-USD | +0.0025% | 1h | 85,526.9 | −0.005% | $16.8M | $21.2M | 50x | as long as short |
| Deribit BTC-PERPETUAL | +0.0041% | 1h | 85,556.8 | +0.030% | $884.5M | $1.59B | 50x | as long as short |
Phoenix BTC
KuCoin XBTUSDTM
BloFin BTC-USDT
01 Exchange BTCUSD
Aster BTCUSDT
Nado BTC-PERP
gTrade (Gains Network) BTC/USD
dYdX BTC-USD
Deribit BTC-PERPETUALShow all 56 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Injective BTC/USDC PERP | +0.0044% | 1h | 85,525 | −0.007% | $339K | $26.9M | 52x | as long as short |
| BingX BTC-USDT | +0.0065% | 8h | 85,571.1 | +0.047% | — | $1.54B | — | as long as short |
| Phemex BTCUSDT | +0.0066% | 8h | 85,516.5 | −0.017% | $148.1M | $494.0M | 150x | as long as short |
| Bitget BTCUSDT | +0.0081% | 8h | 85,588.3 | +0.067% | $2.96B | $5.12B | 150x | as long as short |
| SoDEX BTC-USD | +0.0088% | 1h | 85,515 | −0.019% | $59.9M | $336.0M | 40x | as long as short |
| Lighter BTC | +0.0096% | 1h | 85,536.1 | +0.006% | $171.9M | $1.02B | 50x | as long as short |
| Lighter RH BTC | +0.0096% | 1h | 85,538.3 | +0.009% | $24.0M | $148.4M | 50x | as long as short |
| Popdex BTCUSDT | +0.0096% | 1h | 85,578 | +0.055% | $8.4M | $55.1M | 100x | as long as short |
| Aevo BTC-PERP | +0.0096% | 1h | 85,520.7 | −0.012% | $2.5M | $1.7M | 20x | as long as short |
| Reya BTCRUSDPERP | +0.0098% | 1h | 85,586.1 | +0.064% | $6.6M | $147.0M | 40x | as long as short |
| Katana Perps BTC-USD | +0.0100% | 8h | 85,560 | +0.034% | $200K | $8.3M | 50x | as long as short |
| Paradex BTC-USD-PERP | +0.0100% | 8h | 85,567.3 | +0.042% | $5.7M | $9.4M | 50x | as long as short |
| Hyperliquid BTC | +0.0100% | 1h | 85,678 | +0.172% | $3.79B | $5.02B | 40x | as long as short |
| Pacifica BTC | +0.0100% | 1h | 85,570 | +0.046% | $40.3M | $584.0M | 50x | as long as short |
| Binance BTCUSDT | +0.0100% | 8h | 85,578.3 | +0.055% | $9.42B | $24.35B | 150x | as long as short |
| Bybit BTCUSDT | +0.0100% | 8h | 85,589.7 | +0.069% | $5.19B | $9.85B | 150x | as long as short |
| OKX BTC-USDT-SWAP | +0.0100% | 8h | 85,604.6 | +0.086% | $2.59B | $12.14B | 100x | as long as short |
| Ondo Perps BTC-USD.P | +0.0100% | 1h | 85,575 | +0.051% | $3.8M | $17.8M | 25x | as long as short |
| Arcus BTC-USD | +0.0100% | 1h | 85,578.7 | +0.056% | $4.7M | $100.1M | 40x | as long as short |
| Bulk BTC-USD | +0.0100% | 1h | 85,517.4 | −0.016% | $680.3M | $725.5M | 40x | as long as short |
| Gate BTC_USDT | +0.0100% | 8h | 85,565.9 | +0.041% | $5.54B | $10.80B | 200x | as long as short |
| MEXC BTC_USDT | +0.0100% | 8h | 85,582.2 | +0.060% | $5.08B | $5.66B | 500x | as long as short |
| Backpack BTC_USDC_PERP | +0.0100% | 1h | 85,504.4 | −0.031% | $36.2M | $179.0M | 75x | as long as short |
| Variational Omni BTC | +0.0100% | 8h | 85,486 | −0.053% | $153.7M | $565.7M | — | as long as short |
| edgeX BTCUSDC | +0.0100% | 4h | 85,489.2 | −0.049% | $279.3M | $927.3M | 100x | as long as short |
| GRVT BTC_USDT_Perp | +0.0100% | 8h | 85,522 | −0.010% | $214.9M | $168.8M | 50x | as long as short |
| ApeX Omni BTCUSDT | +0.0100% | 1h | 85,519.9 | −0.013% | $139.8M | $315.5M | 100x | as long as short |
| StandX BTC-USD | +0.0100% | 1h | 85,549 | +0.021% | $30.2M | $207.4M | 40x | as long as short |
| Vest BTC-PERP | +0.0100% | 1h | 85,632 | +0.118% | — | $11.4M | 50x | as long as short |
| Polymarket Perps BTC-USD | +0.0100% | 1h | 85,591 | +0.070% | $11.1M | $14.3M | 50x | as long as short |
| Bullet BTC-USDshort | +0.0100% | 1h | 85,580 | +0.057% | $197K | $3.3M | 20x | |
| Orderly PERP_BTC_USDC | +0.0100% | 8h | 85,522.2 | −0.010% | $2.4M | $8.7M | 100x | as long as short |
| Bluefin BTC-PERP | +0.0100% | 1h | 85,565.3 | +0.040% | $207K | $738K | 40x | as long as short |
| Derive BTC-PERP | +0.0100% | 1h | 85,511.1 | −0.023% | $30.0M | $50.0M | 15x | as long as short |
| SunX BTC-USDT | +0.0100% | 8h | 85,518.7 | −0.014% | $2.9M | $6.1M | 100x | as long as short |
| HTX BTC-USDT | +0.0100% | 8h | 85,507 | −0.028% | $2.26B | $947.8M | 200x | as long as short |
| Extended BTC-USD | +0.0104% | 1h | 85,542.8 | +0.014% | $44.9M | $233.6M | 50x | as long as short |
| Jupiter Perps WBTC-PERP | L +0.0104% / S +0.0048% | 1h | 85,565.2 | +0.040% | — | $107.3M | 500x | as long as short |
| Coinbase International BTC-PERP-INTX | +0.0104% | 1h | 85,550 | +0.022% | $117.0M | $5.24B | 50x | as long as short |
| Kraken Futures PF_XBTUSD | +0.0135% | 1h | 85,531.5 | +0.001% | $187.7M | $954.7M | 100x | as long as short |
| RISEx BTC/USDC | +0.0174% | 1h | 85,612.1 | +0.095% | $8.7M | $42.9M | 25x | as long as short |
| GMX BTC/USD [WBTC.b-USDC] | L +0.0176% / S −0.0153% | 1h | 85,532.4 | +0.002% | $13.1M | — | 200x | as long as short |
| Kalshi KXBTCPERP | +0.0204% | 8h | 85,575 | +0.051% | $11.7M | $755.0M | 6.4x | as long as short |
| Aftermath Perps BTCUSD | +0.0247% | 1h | 85,554.3 | +0.027% | $78K | $221K | 20x | as long as short |
| Hibachi BTC/USDT-P | +0.0248% | 1h | 85,568.4 | +0.044% | $697K | $7.9M | 30x | as long as short |
| Perpl BTC | +0.0335% | 43m | 85,580.7 | +0.058% | $504K | $18.8M | 6.7x | as long as short |
Injective BTC/USDC PERP
BingX BTC-USDT
Phemex BTCUSDT
Bitget BTCUSDT
SoDEX BTC-USD
Lighter BTC
Lighter RH BTC
Popdex BTCUSDT
Aevo BTC-PERP
Reya BTCRUSDPERP
Katana Perps BTC-USD
Paradex BTC-USD-PERP
Hyperliquid BTC
Pacifica BTC
Binance BTCUSDT
Bybit BTCUSDT
OKX BTC-USDT-SWAP
Ondo Perps BTC-USD.P
Arcus BTC-USD
Bulk BTC-USD
Gate BTC_USDT
MEXC BTC_USDT
Backpack BTC_USDC_PERP
Variational Omni BTC
edgeX BTCUSDC
GRVT BTC_USDT_Perp
ApeX Omni BTCUSDT
StandX BTC-USD
Vest BTC-PERP
Polymarket Perps BTC-USD
Orderly PERP_BTC_USDC
Bluefin BTC-PERP
Derive BTC-PERP
SunX BTC-USDT
HTX BTC-USDT
Extended BTC-USD
Jupiter Perps WBTC-PERP
Coinbase International BTC-PERP-INTX
Kraken Futures PF_XBTUSD
RISEx BTC/USDC
GMX BTC/USD [WBTC.b-USDC]
Kalshi KXBTCPERP
Aftermath Perps BTCUSD
Hibachi BTC/USDT-P
Perpl BTC