BTC

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0076%/8h= +8.3% APRnext payment +$0.09 per $10,000 · paid last 24h −0.010%

Price spread now: dYdX against Injective−0.062%7-day average −0.005% · you buy dearer than you sell

Net, funding: paid 7d − costs−$37as in the Funding arb table

Net, price: spread back to 7d avg − costs−$31as in the Price arb table

costs, in and out, $10k−$250.248% of the position

Long on Injective Short on dYdX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.121%−$12 on $10k

Price spread, last 3 days (all we have)+0.118%+$12 · spread now −0.062%, 7d avg −0.005%

Together, before fees−0.003%$0 on $10k · with fees, hour by hour

Funding pays, the price is against you. dYdX is 0.057% cheaper against Injective than usual: you would sell low and buy high (spread −0.062% now, against its 7-day average of −0.005%). If the spread goes back, that is −$6 on $10k: about 2.5 days of funding at the current rate (+$2 a day). Mind the row above: over the last 7 days funding on this pair cost −0.121%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Injective BTC/USDC PERP	86,601	−0.0035	get 0.0004% / 1h	54m 40s	$333K	$26.8M	52x
Short	dYdX BTC-USD	86,547.3	0.0041	get 0.0005% / 1h	54m 40s	$17.0M	$21.1M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

dYdX 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 dYdXbpOrdersPrice spread, now −0.062%Rate

Funding earned: $15.87
Price spread: −0.062% → −0.005%: −$5.74
Slippage, 4 orders: −$14.81
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee dYdX: 5 bp × 2 orders: −$10
Net: −$14.7
Costs to cover: 0.248%
Break-even: 13.5 days

Slippage from Injective: live order book, 5 min ago; dYdX: live order book, 5 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, 5 min ago	1.74 bp	2.0 bp −$2	10.1 bp −$101	doesn't fit	doesn't fit
Sell dYdX live order book, 5 min ago	0.17 bp	11.2 bp −$11	11.2 bp −$112	18.1 bp −$1,805	23.7 bp −$11.9K

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	−0.0159%	1h	86,468	−0.154%	$2.2M	$11.8M	40x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	86,528	−0.084%	$9K	$3K	50x	as long as short
Injective BTC/USDC PERPlong	−0.0035%	1h	86,601	long leg	$333K	$26.8M	52x
RISEx BTC/USDC	−0.0024%	1h	86,548.4	−0.061%	$8.3M	$42.9M	25x	as long as short
01 Exchange BTCUSD	−0.0016%	1h	86,551.1	−0.058%	$358K	$2.5M	50x	as long as short
Aster BTCUSDT	−0.0004%	8h	86,540.3	−0.070%	$503.9M	$1.15B	200x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0005% / S −0.0004%	1h	86,559.3	−0.048%	$36.9M	—	200x	as long as short
KuCoin XBTUSDTM	+0.0008%	8h	86,532.4	−0.079%	$850.3M	$713.8M	125x	as long as short
Deribit BTC-PERPETUAL	+0.0021%	1h	86,563.8	−0.043%	$917.2M	$1.49B	50x	as long as short
Reya BTCRUSDPERP	+0.0024%	1h	86,530	−0.082%	$6.7M	$145.2M	40x	as long as short

Show all 56 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX BTC-USDC	+0.0040%	8h	86,523.8	−0.089%	—	$15.4M	—	as long as short
dYdX BTC-USDshort	+0.0041%	1h	86,547.3	−0.062%	$17.0M	$21.1M	50x
Phemex BTCUSDT	+0.0042%	8h	86,535.8	−0.075%	$149.9M	$478.0M	150x	as long as short
Bitget BTCUSDT	+0.0051%	8h	86,540.4	−0.070%	$2.96B	$5.12B	150x	as long as short
Aevo BTC-PERP	+0.0064%	1h	86,533.5	−0.078%	$2.4M	$1.3M	20x	as long as short
MEXC BTC_USDT	+0.0069%	8h	86,517.9	−0.096%	$5.12B	$5.62B	500x	as long as short
Binance BTCUSDT	+0.0070%	8h	86,539.9	−0.071%	$9.43B	$24.52B	150x	as long as short
Gate BTC_USDT	+0.0081%	8h	86,543.9	−0.066%	$5.88B	$10.70B	200x	as long as short
Aftermath Perps BTCUSD	+0.0086%	1h	86,463	−0.159%	$79K	$220K	20x	as long as short
Lighter BTC	+0.0096%	1h	86,538.2	−0.073%	$170.5M	$1.01B	50x	as long as short
Lighter RH BTC	+0.0096%	1h	86,538.2	−0.073%	$24.0M	$151.2M	50x	as long as short
Popdex BTCUSDT	+0.0096%	1h	86,541	−0.069%	$8.5M	$52.5M	100x	as long as short
Bybit BTCUSDT	+0.0099%	8h	86,539.4	−0.071%	$5.26B	$9.80B	150x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	86,526	−0.087%	$199K	$7.0M	50x	as long as short
Paradex BTC-USD-PERP	+0.0100%	8h	86,562.9	−0.044%	$4.8M	$8.5M	50x	as long as short
Nado BTC-PERP	+0.0100%	1h	86,546.4	−0.063%	$21.9M	$234.6M	50x	as long as short
Hyperliquid BTC	+0.0100%	1h	86,615	+0.016%	$3.80B	$5.10B	40x	as long as short
Pacifica BTC	+0.0100%	1h	86,554.3	−0.054%	$41.2M	$521.5M	50x	as long as short
OKX BTC-USDT-SWAP	+0.0100%	8h	86,540.3	−0.070%	$2.54B	$12.73B	100x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	86,530	−0.082%	$3.9M	$18.6M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	86,571.9	−0.034%	$7.6M	$94.7M	40x	as long as short
Bulk BTC-USD	+0.0100%	1h	86,382.9	−0.252%	$571.1M	$18.1M	40x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	86,528.6	−0.084%	$37.9M	$154.6M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	86,463.3	−0.159%	$155.7M	$568.3M	—	as long as short
edgeX BTCUSDC	+0.0100%	4h	86,420.7	−0.208%	$279.3M	$944.4M	100x	as long as short
GRVT BTC_USDT_Perp	+0.0100%	8h	86,455.1	−0.168%	$217.0M	$173.5M	50x	as long as short
ApeX Omni BTCUSDT	+0.0100%	1h	86,442	−0.184%	$141.3M	$323.3M	100x	as long as short
StandX BTC-USD	+0.0100%	1h	86,523.5	−0.089%	$30.7M	$204.5M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	86,573.8	−0.031%	—	$11.7M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	86,534	−0.077%	$11.1M	$13.8M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	86,542.9	−0.067%	$190K	$3.3M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	86,540.6	−0.070%	$2.4M	$8.8M	100x	as long as short
Bluefin BTC-PERP	+0.0100%	1h	86,571.1	−0.035%	$140K	$663K	40x	as long as short
Derive BTC-PERP	+0.0100%	1h	86,571.2	−0.034%	$30.6M	$62.6M	15x	as long as short
SunX BTC-USDT	+0.0100%	8h	86,459.3	−0.164%	$3.4M	$5.4M	100x	as long as short
SoDEX BTC-USD	+0.0100%	1h	86,531	−0.081%	$60.5M	$337.6M	40x	as long as short
HTX BTC-USDT	+0.0100%	8h	86,522.6	−0.091%	$2.30B	$969.4M	200x	as long as short
Extended BTC-USD	+0.0104%	1h	86,524.1	−0.089%	$45.3M	$226.9M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0048%	1h	86,554.2	−0.054%	—	$99.0M	500x	as long as short
Kraken Futures PF_XBTUSD	+0.0110%	1h	86,555.1	−0.053%	$192.1M	$948.0M	100x	as long as short
Perpl BTC	+0.0112%	43m	86,529.7	−0.082%	$417K	$23.4M	6.7x	as long as short
Coinbase International BTC-PERP-INTX	+0.0112%	1h	86,573.2	−0.032%	$132.6M	$5.68B	50x	as long as short
Hibachi BTC/USDT-P	+0.0160%	1h	86,481.4	−0.138%	$718K	$8.1M	30x	as long as short
BloFin BTC-USDT	+0.0189%	8h	86,530.5	−0.081%	$414.8M	$656.3M	150x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0190% / S −0.0212%	1h	86,554.3	−0.054%	$15.1M	—	200x	as long as short
Kalshi KXBTCPERP	+0.0202%	8h	86,556	−0.052%	$9.7M	$738.6M	6.4x	as long as short