BTC

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0080%/8h= +8.8% APRnext payment +$0.10 per $10,000 · paid last 24h +0.013%

Price spread now: Arcus against Injective−0.074%7-day average +0.002% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$22as in the Price arb table

costs, in and out, $10k−$140.140% of the position

Long on Injective Short on Arcus

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.092%+$9 on $10k

Price spread, last 3 days (all we have)+0.114%+$11 · spread now −0.074%, 7d avg +0.002%

Together, before fees+0.206%+$21 on $10k · with fees, hour by hour

Funding pays, the price is against you. Arcus is 0.076% cheaper against Injective than usual: you would sell low and buy high (spread −0.074% now, against its 7-day average of +0.002%). If the spread goes back, that is −$8 on $10k: about 3.2 days of funding at the current rate (+$2 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Injective BTC/USDC PERP	85,691	0.0020	pay 0.0002% / 1h	31m 00s	$340K	$26.9M	52x
Short	Arcus BTC-USD	85,627.3	0.0100	get 0.0013% / 1h	31m 00s	$7.3M	$98.3M	40x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Arcus against Injective. 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 InjectivebpFee ArcusbpOrdersPrice spread, now −0.074%Rate

Funding earned: $16.81
Price spread: −0.074% → +0.002%: −$7.62
Slippage, 4 orders: −$9.5
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Net: −$4.83
Costs to cover: 0.140%
Break-even: 9.0 days

Slippage from Injective: live order book, 3 min ago; Arcus: live order book, 3 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 Injective live order book, 3 min ago	3.15 bp	3.8 bp −$4	13.5 bp −$135	doesn't fit	doesn't fit
Sell Arcus live order book, 3 min ago	0.01 bp	3.2 bp −$3	3.6 bp −$36	4.2 bp −$418	doesn't fit

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
Phoenix BTC	−0.0144%	1h	85,641	−0.058%	$2.2M	$10.5M	40x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	85,657	−0.040%	$8K	$3K	50x	as long as short
01 Exchange BTCUSD	−0.0064%	1h	85,634.3	−0.066%	$364K	$2.4M	50x	as long as short
Perpl BTC	0.0000%	43m	85,661.8	−0.034%	$515K	$20.9M	6.7x	as long as short
dYdX BTC-USD	+0.0001%	1h	85,662	−0.034%	$16.8M	$20.9M	50x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0004% / S −0.0004%	1h	85,652.2	−0.045%	$36.7M	—	200x	as long as short
Injective BTC/USDC PERPlong	+0.0020%	1h	85,691	long leg	$340K	$26.9M	52x
Aster BTCUSDT	+0.0034%	8h	85,644.4	−0.054%	$509.0M	$1.14B	200x	as long as short
KuCoin XBTUSDTM	+0.0035%	8h	85,626.1	−0.076%	$902.5M	$755.6M	125x	as long as short
ApeX Omni BTCUSDT	+0.0037%	1h	85,595.3	−0.112%	$140.0M	$320.4M	100x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
RISEx BTC/USDC	+0.0044%	1h	85,663.5	−0.032%	$7.8M	$42.4M	25x	as long as short
BingX BTC-USDT	+0.0054%	8h	85,654	−0.043%	—	$1.58B	—	as long as short
HTX BTC-USDT	+0.0056%	8h	85,633.7	−0.067%	$2.27B	$952.7M	200x	as long as short
Reya BTCRUSDPERP	+0.0056%	1h	85,648.1	−0.050%	$6.7M	$146.2M	40x	as long as short
Nado BTC-PERP	+0.0065%	1h	85,645.2	−0.054%	$22.6M	$228.3M	50x	as long as short
Bitget BTCUSDT	+0.0069%	8h	85,644.9	−0.054%	$2.94B	$5.11B	150x	as long as short
MEXC BTC_USDT	+0.0088%	8h	85,636	−0.064%	$5.06B	$5.71B	500x	as long as short
Aevo BTC-PERP	+0.0088%	1h	85,637.5	−0.062%	$2.5M	$1.8M	20x	as long as short
Binance BTCUSDT	+0.0088%	8h	85,651.6	−0.046%	$9.32B	$24.43B	150x	as long as short
Gate BTC_USDT	+0.0095%	8h	85,656.7	−0.040%	$5.61B	$10.51B	200x	as long as short
Lighter BTC	+0.0096%	1h	85,640.8	−0.059%	$169.6M	$986.6M	50x	as long as short
Lighter RH BTC	+0.0096%	1h	85,651.1	−0.047%	$23.2M	$146.2M	50x	as long as short
Popdex BTCUSDT	+0.0096%	1h	85,652	−0.046%	$8.4M	$52.0M	100x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	85,616	−0.088%	$206K	$7.5M	50x	as long as short
Paradex BTC-USD-PERP	+0.0100%	8h	85,634.9	−0.065%	$3.8M	$8.5M	50x	as long as short
Hyperliquid BTC	+0.0100%	1h	85,702	+0.013%	$3.76B	$5.00B	40x	as long as short
Pacifica BTC	+0.0100%	1h	85,680.7	−0.012%	$40.7M	$569.7M	50x	as long as short
Bybit BTCUSDT	+0.0100%	8h	85,662.9	−0.033%	$5.29B	$9.78B	150x	as long as short
OKX BTC-USDT-SWAP	+0.0100%	8h	85,663.7	−0.032%	$2.54B	$12.41B	100x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	85,632	−0.069%	$3.9M	$18.0M	25x	as long as short
Arcus BTC-USDshort	+0.0100%	1h	85,627.3	−0.074%	$7.3M	$98.3M	40x
Backpack BTC_USDC_PERP	+0.0100%	1h	85,635.3	−0.065%	$35.2M	$163.0M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	85,640.3	−0.059%	$156.2M	$559.1M	—	as long as short
edgeX BTCUSDC	+0.0100%	4h	85,580.7	−0.129%	$278.2M	$944.9M	100x	as long as short
GRVT BTC_USDT_Perp	+0.0100%	8h	85,580.1	−0.129%	$214.9M	$167.6M	50x	as long as short
StandX BTC-USD	+0.0100%	1h	85,647.7	−0.050%	$30.3M	$208.3M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	85,697.7	+0.008%	—	$11.8M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	85,644	−0.055%	$11.0M	$14.2M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	85,651.2	−0.046%	$188K	$3.3M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	85,646.5	−0.052%	$2.4M	$9.0M	100x	as long as short
Bluefin BTC-PERP	+0.0100%	1h	85,685.6	−0.006%	$186K	$708K	40x	as long as short
Derive BTC-PERP	+0.0100%	1h	85,644.8	−0.054%	$30.0M	$56.7M	15x	as long as short
SunX BTC-USDT	+0.0100%	8h	85,611.5	−0.093%	$2.9M	$6.6M	100x	as long as short
SoDEX BTC-USD	+0.0100%	1h	85,636	−0.064%	$59.9M	$337.5M	40x	as long as short
Phemex BTCUSDT	+0.0100%	8h	85,638.4	−0.061%	$153.0M	$480.0M	150x	as long as short
Bulk BTC-USD	+0.0100%	1h	85,587.5	−0.121%	$583.6M	$150.2M	40x	as long as short
Extended BTC-USD	+0.0104%	1h	85,616	−0.088%	$43.9M	$228.4M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0056%	1h	85,654.3	−0.043%	—	$101.3M	500x	as long as short
Coinbase International BTC-PERP-INTX	+0.0112%	1h	85,668.9	−0.026%	$131.0M	$5.18B	50x	as long as short
Hibachi BTC/USDT-P	+0.0136%	1h	85,697.9	+0.008%	$698K	$7.9M	30x	as long as short
Kraken Futures PF_XBTUSD	+0.0146%	1h	85,652.1	−0.045%	$188.7M	$965.3M	100x	as long as short
Aftermath Perps BTCUSD	+0.0162%	1h	85,654.5	−0.043%	$78K	$219K	20x	as long as short
Deribit BTC-PERPETUAL	+0.0180%	1h	85,680	−0.013%	$894.3M	$1.53B	50x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0203% / S −0.0190%	1h	85,654.1	−0.043%	$13.6M	—	200x	as long as short
Kalshi KXBTCPERP	+0.0208%	8h	85,667	−0.028%	$10.0M	$770.7M	6.4x	as long as short