Funding you earn now, next payment 05:00 UTC+0.0041%/8h= +4.5% APRnext payment +$0.05 per $10,000 · paid last 24h +0.017%
Price spread now: SoDEX against Injective+0.020%7-day average −0.023% · you sell dearer than you buy
Net, funding: paid 7d − costs—under 7 days of funding history
Net, price: spread back to 7d avg − costs−$8as in the Price arb table
costs, in and out, $10k−$130.127% of the position
Funding, last 3 days (all we have)+0.074%+$7 on $10k
+Price spread, last 4 days (all we have)−0.001%$0 · spread now +0.020%, 7d avg −0.023%
=Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and SoDEX is 0.042% dearer against Injective than usual: you sell high and buy low: +$4 more if the spread goes back to its 7-day average of −0.023%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Injective BTC/USDC PERP | 85,574 | 0.0044 | pay 0.0005% / 1h | 30m 57s | $340K | $26.9M | 52x |
| Short | SoDEX BTC-USD | 85,591 | 0.0085 | get 0.0011% / 1h | 30m 57s | $60.0M | $336.0M | 40x |
Injective BTC/USDC PERP
SoDEX BTC-USDFunding history
latest
Range statsloading…
Price spread between the two exchanges
SoDEX against Injective. 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
- $8.71
- Price spread: +0.020% → −0.023%
- $4.25
- Slippage, 4 orders
- −$4.66
- Fee Injective: 0.01 bp × 2 orders
- −$0.02
- Fee SoDEX: 4 bp × 2 orders
- −$8
- Net
- $0.28
- Costs to cover
- 0.127%
- Break-even
- 6.8 days
Slippage from Injective: live order book, 3 min ago; SoDEX: 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 | 2.11 bp | 2.4 bp −$2 | 11.5 bp −$115 | doesn't fit | doesn't fit |
| Sell SoDEX live order book, 3 min ago | 0.06 bp | 4.1 bp −$4 | 4.1 bp −$41 | 5.0 bp −$503 | 45.1 bp −$22.6K |
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 | −0.048% | $2.1M | $10.4M | 40x | as long as short |
| Hotstuff BTC-PERP | −0.0080% | 1h | 85,531 | −0.050% | $8K | $3K | 50x | as long as short |
| KuCoin XBTUSDTM | −0.0041% | 8h | 85,561.7 | −0.014% | $919.5M | $756.8M | 125x | as long as short |
| BloFin BTC-USDT | −0.0020% | 8h | 85,579.1 | +0.006% | $419.6M | $675.6M | 150x | as long as short |
| 01 Exchange BTCUSD | −0.0016% | 1h | 85,587.7 | +0.016% | $366K | $2.3M | 50x | as long as short |
| Aster BTCUSDT | +0.0003% | 8h | 85,575 | +0.001% | $515.4M | $1.10B | 200x | as long as short |
| Nado BTC-PERP | +0.0003% | 1h | 85,521.7 | −0.061% | $24.7M | $223.0M | 50x | as long as short |
| gTrade (Gains Network) BTC/USD | L +0.0004% / S −0.0004% | 1h | 85,594.6 | +0.024% | $36.6M | — | 200x | as long as short |
| dYdX BTC-USD | +0.0025% | 1h | 85,526.9 | −0.055% | $16.8M | $21.2M | 50x | as long as short |
| Injective BTC/USDC PERPlong | +0.0044% | 1h | 85,574 | long leg | $340K | $26.9M | 52x |
Phoenix BTC
Hotstuff BTC-PERP
KuCoin XBTUSDTM
BloFin BTC-USDT
01 Exchange BTCUSD
Aster BTCUSDT
Nado BTC-PERP
gTrade (Gains Network) BTC/USD
dYdX BTC-USDShow all 56 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Phemex BTCUSDT | +0.0065% | 8h | 85,593.7 | +0.023% | $148.1M | $494.4M | 150x | as long as short |
| BingX BTC-USDT | +0.0065% | 8h | 85,593.9 | +0.023% | — | $1.54B | — | as long as short |
| Deribit BTC-PERPETUAL | +0.0080% | 1h | 85,642.4 | +0.080% | $884.6M | $1.59B | 50x | as long as short |
| Bitget BTCUSDT | +0.0081% | 8h | 85,579.5 | +0.006% | $2.96B | $5.12B | 150x | as long as short |
| SoDEX BTC-USDshort | +0.0085% | 1h | 85,591 | +0.020% | $60.0M | $336.0M | 40x | |
| Lighter BTC | +0.0096% | 1h | 85,607.4 | +0.039% | $172.1M | $1.02B | 50x | as long as short |
| Lighter RH BTC | +0.0096% | 1h | 85,605 | +0.036% | $24.0M | $148.5M | 50x | as long as short |
| Popdex BTCUSDT | +0.0096% | 1h | 85,578 | +0.005% | $8.4M | $55.1M | 100x | as long as short |
| Aevo BTC-PERP | +0.0096% | 1h | 85,605.5 | +0.037% | $2.5M | $1.7M | 20x | as long as short |
| Reya BTCRUSDPERP | +0.0098% | 1h | 85,586.1 | +0.014% | $6.6M | $147.0M | 40x | as long as short |
| Katana Perps BTC-USD | +0.0100% | 8h | 85,560 | −0.016% | $200K | $8.3M | 50x | as long as short |
| Paradex BTC-USD-PERP | +0.0100% | 8h | 85,567.3 | −0.008% | $5.7M | $9.4M | 50x | as long as short |
| Hyperliquid BTC | +0.0100% | 1h | 85,674 | +0.117% | $3.79B | $5.02B | 40x | as long as short |
| Pacifica BTC | +0.0100% | 1h | 85,570 | −0.005% | $40.3M | $584.0M | 50x | as long as short |
| Binance BTCUSDT | +0.0100% | 8h | 85,586.5 | +0.015% | $9.42B | $24.39B | 150x | as long as short |
| Bybit BTCUSDT | +0.0100% | 8h | 85,579.2 | +0.006% | $5.19B | $9.86B | 150x | as long as short |
| OKX BTC-USDT-SWAP | +0.0100% | 8h | 85,586.1 | +0.014% | $2.59B | $12.14B | 100x | as long as short |
| Ondo Perps BTC-USD.P | +0.0100% | 1h | 85,575 | +0.001% | $3.8M | $17.8M | 25x | as long as short |
| Arcus BTC-USD | +0.0100% | 1h | 85,578.7 | +0.005% | $4.7M | $100.1M | 40x | as long as short |
| Bulk BTC-USD | +0.0100% | 1h | 85,517.4 | −0.066% | $680.3M | $725.5M | 40x | as long as short |
| Gate BTC_USDT | +0.0100% | 8h | 85,594.2 | +0.024% | $5.55B | $10.80B | 200x | as long as short |
| MEXC BTC_USDT | +0.0100% | 8h | 85,579.3 | +0.006% | $5.08B | $5.66B | 500x | as long as short |
| Backpack BTC_USDC_PERP | +0.0100% | 1h | 85,588.1 | +0.016% | $36.2M | $179.0M | 75x | as long as short |
| Variational Omni BTC | +0.0100% | 8h | 85,584.9 | +0.013% | $154.4M | $565.9M | — | as long as short |
| edgeX BTCUSDC | +0.0100% | 4h | 85,489.2 | −0.099% | $279.3M | $927.3M | 100x | as long as short |
| GRVT BTC_USDT_Perp | +0.0100% | 8h | 85,522 | −0.061% | $214.9M | $168.8M | 50x | as long as short |
| ApeX Omni BTCUSDT | +0.0100% | 1h | 85,519.9 | −0.063% | $139.8M | $315.5M | 100x | as long as short |
| StandX BTC-USD | +0.0100% | 1h | 85,549 | −0.029% | $30.2M | $207.4M | 40x | as long as short |
| Vest BTC-PERP | +0.0100% | 1h | 85,632 | +0.068% | — | $11.4M | 50x | as long as short |
| Polymarket Perps BTC-USD | +0.0100% | 1h | 85,591 | +0.020% | $11.1M | $14.3M | 50x | as long as short |
| Bullet BTC-USD | +0.0100% | 1h | 85,580 | +0.007% | $197K | $3.3M | 20x | as long as short |
| Orderly PERP_BTC_USDC | +0.0100% | 8h | 85,609.1 | +0.041% | $2.4M | $8.7M | 100x | as long as short |
| Bluefin BTC-PERP | +0.0100% | 1h | 85,655.4 | +0.095% | $207K | $738K | 40x | as long as short |
| Derive BTC-PERP | +0.0100% | 1h | 85,597.6 | +0.028% | $30.1M | $50.0M | 15x | as long as short |
| SunX BTC-USDT | +0.0100% | 8h | 85,583.5 | +0.011% | $2.9M | $6.1M | 100x | as long as short |
| HTX BTC-USDT | +0.0100% | 8h | 85,580.2 | +0.007% | $2.27B | $948.7M | 200x | as long as short |
| Extended BTC-USD | +0.0104% | 1h | 85,539.1 | −0.041% | $44.9M | $233.6M | 50x | as long as short |
| Jupiter Perps WBTC-PERP | L +0.0104% / S +0.0048% | 1h | 85,520.8 | −0.062% | — | $107.3M | 500x | as long as short |
| Coinbase International BTC-PERP-INTX | +0.0104% | 1h | 85,627 | +0.062% | $117.5M | $5.25B | 50x | as long as short |
| Kraken Futures PF_XBTUSD | +0.0135% | 1h | 85,613.8 | +0.047% | $187.9M | $954.8M | 100x | as long as short |
| RISEx BTC/USDC | +0.0174% | 1h | 85,612.1 | +0.044% | $8.7M | $42.9M | 25x | as long as short |
| GMX BTC/USD [WBTC.b-USDC] | L +0.0176% / S −0.0153% | 1h | 85,592.7 | +0.022% | $13.1M | — | 200x | as long as short |
| Kalshi KXBTCPERP | +0.0204% | 8h | 85,589 | +0.018% | $11.7M | $755.0M | 6.4x | as long as short |
| Aftermath Perps BTCUSD | +0.0245% | 1h | 85,555.3 | −0.022% | $78K | $221K | 20x | as long as short |
| Hibachi BTC/USDT-P | +0.0248% | 1h | 85,568.4 | −0.007% | $697K | $7.9M | 30x | as long as short |
| Perpl BTC | +0.0335% | 43m | 85,580.7 | +0.008% | $504K | $18.8M | 6.7x | as long as short |
Phemex BTCUSDT
BingX BTC-USDT
Deribit BTC-PERPETUAL
Bitget BTCUSDT
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
Bullet 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