BTC

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0178%/8h= +19.5% APRnext payment +$0.22 per $10,000 · paid last 24h +0.041%

Price spread now: SoDEX against Hotstuff−0.049%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Hotstuff Short on SoDEX

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 airdropHotstuff: Active · farm boardneeds both histories

Funding pays, the price is against you. SoDEX is 0.049% cheaper against Hotstuff than usual: you would sell low and buy high (spread −0.049% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$5 on $10k: about 22 hours of funding at the current rate (+$5 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hotstuff BTC-PERP	86,572	−0.0080	get 0.0010% / 1h	35m 12s	$9K	$3K	50x
Short	SoDEX BTC-USD	86,530	0.0098	get 0.0012% / 1h	35m 12s	$60.5M	$337.1M	40x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SoDEX against Hotstuff. 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 HotstuffbpFee SoDEXbpOrdersPrice spread, now −0.049%Rate

Funding earned: $37.42
Price spread: −0.049% → 0.000%: −$4.85
Slippage, 4 orders: no order book: not counted
Fee Hotstuff: 2.5 bp × 2 orders: −$5
Fee SoDEX: 4 bp × 2 orders: −$8
Net: $19.57
Costs to cover: 0.130%
Break-even: 3.3 days

Slippage unknown: Hotstuff: no order-book sample; SoDEX: live order book, 4 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 SoDEX live order book, 4 min ago	0.06 bp	4.1 bp −$4	4.1 bp −$41	5.0 bp −$501	42.0 bp −$21.0K

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
Bluefin BTC-PERP	−0.0657%	1h	86,553.8	−0.021%	$140K	$618K	40x	as long as short
Phoenix BTC	−0.0159%	1h	86,627	+0.064%	$2.2M	$11.8M	40x	as long as short
Aftermath Perps BTCUSD	−0.0130%	1h	86,615.5	+0.050%	$83K	$216K	20x	as long as short
Hotstuff BTC-PERPlong	−0.0080%	1h	86,572	long leg	$9K	$3K	50x
dYdX BTC-USD	−0.0010%	1h	86,530.8	−0.048%	$17.3M	$20.5M	50x	as long as short
Aster BTCUSDT	−0.0009%	8h	86,517.7	−0.063%	$504.9M	$1.15B	200x	as long as short
01 Exchange BTCUSD	−0.0008%	1h	86,545.9	−0.030%	$359K	$2.4M	50x	as long as short
KuCoin XBTUSDTM	0.0000%	8h	86,524.9	−0.054%	$851.3M	$708.4M	125x	as long as short
Perpl BTC	0.0000%	43m	86,558.2	−0.016%	$419K	$23.9M	6.7x	as long as short
Deribit BTC-PERPETUAL	0.0000%	1h	86,565.4	−0.008%	$924.2M	$1.47B	50x	as long as short

Show all 56 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
gTrade (Gains Network) BTC/USD	L +0.0005% / S −0.0004%	1h	86,557.8	−0.016%	$36.8M	—	200x	as long as short
RISEx BTC/USDC	+0.0006%	1h	86,531	−0.047%	$8.6M	$43.2M	25x	as long as short
Reya BTCRUSDPERP	+0.0022%	1h	86,541	−0.036%	$6.7M	$144.8M	40x	as long as short
Injective BTC/USDC PERP	+0.0024%	1h	86,559	−0.015%	$315K	$26.8M	52x	as long as short
Phemex BTCUSDT	+0.0030%	8h	86,533.7	−0.044%	$150.2M	$475.4M	150x	as long as short
BingX BTC-USDC	+0.0034%	8h	86,503.4	−0.079%	—	$15.3M	—	as long as short
Hibachi BTC/USDT-P	+0.0040%	1h	86,622	+0.058%	$730K	$8.2M	30x	as long as short
Bitget BTCUSDT	+0.0043%	8h	86,521.6	−0.058%	$2.95B	$5.08B	150x	as long as short
MEXC BTC_USDT	+0.0060%	8h	86,529.1	−0.050%	$5.17B	$5.65B	500x	as long as short
Binance BTCUSDT	+0.0061%	8h	86,531.3	−0.047%	$9.42B	$24.32B	150x	as long as short
Aevo BTC-PERP	+0.0064%	1h	86,528.8	−0.050%	$2.4M	$1.3M	20x	as long as short
Gate BTC_USDT	+0.0075%	8h	86,529.1	−0.050%	$5.85B	$10.65B	200x	as long as short
Bybit BTCUSDT	+0.0090%	8h	86,526.3	−0.053%	$5.27B	$9.70B	150x	as long as short
Lighter BTC	+0.0096%	1h	86,537.2	−0.040%	$171.6M	$1.00B	50x	as long as short
Lighter RH BTC	+0.0096%	1h	86,548.8	−0.027%	$24.0M	$151.9M	50x	as long as short
Popdex BTCUSDT	+0.0096%	1h	86,530	−0.049%	$8.5M	$52.1M	100x	as long as short
SoDEX BTC-USDshort	+0.0098%	1h	86,530	−0.049%	$60.5M	$337.1M	40x
Katana Perps BTC-USD	+0.0100%	8h	86,512	−0.069%	$202K	$6.9M	50x	as long as short
Paradex BTC-USD-PERP	+0.0100%	8h	86,559.2	−0.015%	$4.7M	$8.4M	50x	as long as short
Nado BTC-PERP	+0.0100%	1h	86,513.5	−0.068%	$21.8M	$233.4M	50x	as long as short
Hyperliquid BTC	+0.0100%	1h	86,610	+0.044%	$3.81B	$5.09B	40x	as long as short
Pacifica BTC	+0.0100%	1h	86,546.8	−0.029%	$41.1M	$505.2M	50x	as long as short
OKX BTC-USDT-SWAP	+0.0100%	8h	86,527.9	−0.051%	$2.54B	$12.69B	100x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	86,540	−0.037%	$3.9M	$18.6M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	86,601.5	+0.034%	$7.4M	$93.7M	40x	as long as short
Bulk BTC-USD	+0.0100%	1h	86,703.1	+0.151%	$573.0M	$18.8M	40x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	86,519.1	−0.061%	$38.4M	$153.2M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	86,541.3	−0.035%	$156.5M	$566.0M	—	as long as short
edgeX BTCUSDC	+0.0100%	4h	86,594.3	+0.026%	$279.8M	$944.4M	100x	as long as short
GRVT BTC_USDT_Perp	+0.0100%	8h	86,592.5	+0.024%	$217.3M	$173.9M	50x	as long as short
ApeX Omni BTCUSDT	+0.0100%	1h	86,642.9	+0.082%	$141.6M	$323.1M	100x	as long as short
StandX BTC-USD	+0.0100%	1h	86,573.9	+0.002%	$30.7M	$203.4M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	86,581	+0.010%	—	$11.6M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	86,544	−0.032%	$11.1M	$13.6M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	86,536	−0.042%	$191K	$3.3M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	86,542.8	−0.034%	$2.4M	$8.6M	100x	as long as short
Derive BTC-PERP	+0.0100%	1h	86,538.9	−0.038%	$30.0M	$61.6M	15x	as long as short
SunX BTC-USDT	+0.0100%	8h	86,536.8	−0.041%	$3.4M	$5.4M	100x	as long as short
HTX BTC-USDT	+0.0100%	8h	86,527.7	−0.051%	$2.30B	$964.6M	200x	as long as short
Extended BTC-USD	+0.0104%	1h	86,518	−0.062%	$46.4M	$225.3M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0048%	1h	86,541.9	−0.035%	—	$98.2M	500x	as long as short
Coinbase International BTC-PERP-INTX	+0.0112%	1h	86,571.3	−0.001%	$131.6M	$5.71B	50x	as long as short
Kraken Futures PF_XBTUSD	+0.0121%	1h	86,562.4	−0.011%	$191.6M	$937.1M	100x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0181% / S −0.0208%	1h	86,552.2	−0.023%	$15.1M	—	200x	as long as short
BloFin BTC-USDT	+0.0181%	8h	86,533.4	−0.045%	$414.3M	$651.5M	150x	as long as short
Kalshi KXBTCPERP	+0.0195%	8h	86,554	−0.021%	$9.6M	$728.5M	6.4x	as long as short