BTC

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0018%/8h= −1.9% APRnext payment −$0.02 per $10,000 · paid last 24h +0.020%

Price spread now: RISEx against Injective−0.128%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−$26as in the Price arb table

costs, in and out, $10k−$130.133% of the position

Long on Injective Short on RISEx

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.087%+$9 on $10k

Price spread, last 3 days (all we have)+0.194%+$19 · spread now −0.128%, 7d avg +0.002%

Together, before fees+0.281%+$28 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and RISEx is 0.130% cheaper against Injective than usual: you would sell low and buy high (−$13 if the spread goes back to its 7-day average of +0.002%). Swap the legs. Mind the row above: over the last 3 days funding on this pair paid +0.087%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Injective BTC/USDC PERP	86,559	0.0024	pay 0.0003% / 1h	31m 04s	$315K	$26.8M	52x
Short	RISEx BTC/USDC	86,447.8	0.0006	get 0.0001% / 1h	31m 04s	$8.5M	$43.2M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

RISEx 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 RISExbpOrdersPrice spread, now −0.128%Rate

Funding earned: −$3.7
Price spread: −0.128% → +0.002%: −$13.04
Slippage, 4 orders: −$7.28
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee RISEx: 3 bp × 2 orders: −$6
Net: −$30.05
Costs to cover: 0.133%
Break-even: never at this rate

Slippage from Injective: live order book, 3 min ago; RISEx: 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	2.25 bp	2.8 bp −$3	10.4 bp −$104	doesn't fit	doesn't fit
Sell RISEx live order book, 3 min ago	0.66 bp	3.7 bp −$4	3.7 bp −$37	11.7 bp −$1,173	doesn't fit

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	−0.0500%	1h	86,397.1	−0.187%	$140K	$618K	40x	as long as short
Phoenix BTC	−0.0159%	1h	86,459	−0.116%	$2.2M	$11.8M	40x	as long as short
Aftermath Perps BTCUSD	−0.0092%	1h	86,549.1	−0.011%	$83K	$216K	20x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	86,440	−0.137%	$9K	$3K	50x	as long as short
Aster BTCUSDT	−0.0011%	8h	86,337.5	−0.256%	$503.9M	$1.15B	200x	as long as short
01 Exchange BTCUSD	−0.0008%	1h	86,456.2	−0.119%	$358K	$2.4M	50x	as long as short
dYdX BTC-USD	−0.0002%	1h	86,483.7	−0.087%	$17.1M	$20.7M	50x	as long as short
KuCoin XBTUSDTM	−0.0001%	8h	86,335.2	−0.259%	$850.7M	$709.2M	125x	as long as short
Perpl BTC	0.0000%	43m	86,456.1	−0.119%	$421K	$23.8M	6.7x	as long as short
Deribit BTC-PERPETUAL	0.0000%	1h	86,400.7	−0.183%	$921.9M	$1.48B	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	86,460.7	−0.114%	$36.8M	—	200x	as long as short
RISEx BTC/USDCshort	+0.0006%	1h	86,447.8	−0.128%	$8.5M	$43.2M	25x
Reya BTCRUSDPERP	+0.0022%	1h	86,424.2	−0.156%	$6.7M	$144.9M	40x	as long as short
Injective BTC/USDC PERPlong	+0.0024%	1h	86,559	long leg	$315K	$26.8M	52x
Phemex BTCUSDT	+0.0032%	8h	86,360	−0.230%	$149.3M	$476.0M	150x	as long as short
BingX BTC-USDC	+0.0034%	8h	86,332.3	−0.262%	—	$15.3M	—	as long as short
Bitget BTCUSDT	+0.0043%	8h	86,349.9	−0.242%	$2.95B	$5.09B	150x	as long as short
Hibachi BTC/USDT-P	+0.0056%	1h	86,482.2	−0.089%	$724K	$8.2M	30x	as long as short
Binance BTCUSDT	+0.0060%	8h	86,344	−0.248%	$9.40B	$24.35B	150x	as long as short
MEXC BTC_USDT	+0.0060%	8h	86,344.9	−0.247%	$5.11B	$5.67B	500x	as long as short
Aevo BTC-PERP	+0.0064%	1h	86,359.9	−0.230%	$2.4M	$1.3M	20x	as long as short
Gate BTC_USDT	+0.0074%	8h	86,345.3	−0.247%	$5.84B	$10.67B	200x	as long as short
SoDEX BTC-USD	+0.0089%	1h	86,370	−0.218%	$60.4M	$337.2M	40x	as long as short
Bybit BTCUSDT	+0.0089%	8h	86,342.3	−0.250%	$5.25B	$9.73B	150x	as long as short
Lighter BTC	+0.0096%	1h	86,366.9	−0.222%	$171.3M	$1.01B	50x	as long as short
Lighter RH BTC	+0.0096%	1h	86,369.7	−0.219%	$24.0M	$152.0M	50x	as long as short
Popdex BTCUSDT	+0.0096%	1h	86,443	−0.134%	$8.5M	$52.2M	100x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	86,429	−0.150%	$200K	$6.9M	50x	as long as short
Paradex BTC-USD-PERP	+0.0100%	8h	86,486.1	−0.084%	$4.8M	$8.4M	50x	as long as short
Nado BTC-PERP	+0.0100%	1h	86,450.1	−0.126%	$21.9M	$233.7M	50x	as long as short
Hyperliquid BTC	+0.0100%	1h	86,423	−0.157%	$3.80B	$5.10B	40x	as long as short
Pacifica BTC	+0.0100%	1h	86,477.2	−0.094%	$41.0M	$505.2M	50x	as long as short
OKX BTC-USDT-SWAP	+0.0100%	8h	86,348.9	−0.243%	$2.53B	$12.69B	100x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	86,446	−0.131%	$3.9M	$18.6M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	86,517.7	−0.048%	$7.4M	$93.8M	40x	as long as short
Bulk BTC-USD	+0.0100%	1h	86,703.1	+0.166%	$573.0M	$18.8M	40x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	86,337	−0.256%	$38.2M	$153.9M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	86,541.3	−0.020%	$156.5M	$566.0M	—	as long as short
edgeX BTCUSDC	+0.0100%	4h	86,500.3	−0.068%	$279.4M	$945.4M	100x	as long as short
GRVT BTC_USDT_Perp	+0.0100%	8h	86,543.9	−0.017%	$217.3M	$174.1M	50x	as long as short
ApeX Omni BTCUSDT	+0.0100%	1h	86,518.6	−0.047%	$141.4M	$323.0M	100x	as long as short
StandX BTC-USD	+0.0100%	1h	86,455.4	−0.120%	$30.7M	$203.5M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	86,490.4	−0.079%	—	$11.6M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	86,444	−0.133%	$11.0M	$13.7M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	86,439.5	−0.138%	$191K	$3.3M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	86,380.6	−0.206%	$2.4M	$8.6M	100x	as long as short
Derive BTC-PERP	+0.0100%	1h	86,375.3	−0.212%	$30.0M	$61.6M	15x	as long as short
SunX BTC-USDT	+0.0100%	8h	86,422.7	−0.157%	$3.4M	$5.4M	100x	as long as short
HTX BTC-USDT	+0.0100%	8h	86,330.8	−0.264%	$2.29B	$967.5M	200x	as long as short
Extended BTC-USD	+0.0104%	1h	86,352.2	−0.239%	$46.4M	$225.9M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0048%	1h	86,468.4	−0.105%	—	$98.5M	500x	as long as short
Coinbase International BTC-PERP-INTX	+0.0112%	1h	86,407.9	−0.175%	$131.4M	$5.69B	50x	as long as short
Kraken Futures PF_XBTUSD	+0.0121%	1h	86,394.1	−0.190%	$190.3M	$939.6M	100x	as long as short
BloFin BTC-USDT	+0.0180%	8h	86,337.5	−0.256%	$413.9M	$651.2M	150x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0183% / S −0.0217%	1h	86,451.9	−0.124%	$15.4M	—	200x	as long as short
Kalshi KXBTCPERP	+0.0195%	8h	86,435	−0.143%	$9.6M	$730.2M	6.4x	as long as short