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Funding arb · Price arb /

BTC

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Alert: funding
Measured
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Checked every minute; it has to hold two checks in a row. Delivery to Telegram comes later, so for now alerts appear on the alerts page.

Alert: spread
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Checked every minute; it has to hold two checks in a row. Delivery to Telegram comes later, so for now alerts appear on the alerts page.

Funding you earn now, next payment 00:00 UTC−0.0004%/8h= −0.4% APRnext payment −$0.00 per $10,000 · paid last 24h −0.005%
Price spread now: Bulk against Jupiter Perps−0.018%7-day average −0.008% · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Long on Jupiter PerpsShort on Bulk
What this pair did over the last
the charts below follow
Funding, last 3 days (all we have)−0.008%−$1 on $10k
Price spread, last 3 days (all we have)+0.012%+$1 · spread now −0.018%, 7d avg −0.008%
Together, before fees+0.004%$0 on $10k · with fees, hour by hour
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongJupiter Perps WBTC-PERP86,468.3L +0.0104% / S +0.0048%pay 0.0013% / 1h9m 28s—$100.0M500x
ShortBulk BTC-USD86,452.90.0100get 0.0013% / 1h9m 28s$572.2M$12.3M40x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Bulk against Jupiter Perps. 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

Funding earned
−$0.84
Price spread: −0.018% → −0.008%
−$0.99
Slippage, 4 orders
no order book: not counted
Fee Jupiter Perps: 6 bp × 2 orders
−$12
Fee Bulk: 3.5 bp × 2 orders
−$7
Net
−$20.83
Costs to cover
0.190%
Break-even
never at this rate
Slippage unknown: Jupiter Perps: no order-book sample; Bulk: live order book, 5 min ago. Net counts fees only.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy Jupiter Perps no order-book sample—————
Sell Bulk live order book, 5 min ago0.01 bp3.5 bp −$43.5 bp −$353.5 bp −$3514.6 bp −$2,276
Jupiter Perps: 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.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Phoenix BTC−0.0118%1h86,444−0.028%$2.2M$11.8M40xas long as short
Hotstuff BTC-PERP−0.0080%1h86,460−0.010%$9K$3K50xas long as short
Injective BTC/USDC PERP−0.0035%1h86,345−0.143%$332K$26.9M52xas long as short
RISEx BTC/USDC−0.0024%1h86,468.10.000%$8.3M$42.8M25xas long as short
01 Exchange BTCUSD−0.0016%1h86,480.4+0.014%$358K$2.4M50xas long as short
Perpl BTC0.0000%43m86,474.2+0.007%$413K$22.4M6.7xas long as short
gTrade (Gains Network) BTC/USDL +0.0005% / S −0.0005%1h86,499.1+0.036%$36.8M—200xas long as short
Aster BTCUSDT+0.0008%8h86,488.3+0.023%$501.7M$1.15B200xas long as short
KuCoin XBTUSDTM+0.0022%8h86,465.6−0.003%$834.1M$728.6M125xas long as short
Reya BTCRUSDPERP+0.0036%1h86,471.1+0.003%$6.7M$145.5M40xas long as short
Show all 56 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
BingX BTC-USDC+0.0043%8h86,472+0.004%—$15.4M—as long as short
Bitget BTCUSDT+0.0055%8h86,480.2+0.014%$2.97B$5.13B150xas long as short
Phemex BTCUSDT+0.0055%8h86,447.4−0.024%$150.8M$478.6M150xas long as short
dYdX BTC-USD+0.0062%1h86,456.7−0.013%$16.9M$21.2M50xas long as short
Aevo BTC-PERP+0.0072%1h86,469.6+0.002%$2.5M$1.4M20xas long as short
MEXC BTC_USDT+0.0073%8h86,474.6+0.007%$5.16B$5.69B500xas long as short
Binance BTCUSDT+0.0074%8h86,482.3+0.016%$9.44B$24.55B150xas long as short
Gate BTC_USDT+0.0082%8h86,477.9+0.011%$5.85B$10.81B200xas long as short
Lighter BTC+0.0096%1h86,478.6+0.012%$170.2M$1.02B50xas long as short
Lighter RH BTC+0.0096%1h86,487+0.022%$23.9M$152.7M50xas long as short
Popdex BTCUSDT+0.0096%1h86,453−0.018%$8.5M$52.3M100xas long as short
Bybit BTCUSDT+0.0099%8h86,484.3+0.019%$5.26B$9.80B150xas long as short
Katana Perps BTC-USD+0.0100%8h86,441−0.032%$196K$7.1M50xas long as short
Paradex BTC-USD-PERP+0.0100%8h86,497.1+0.033%$4.8M$8.5M50xas long as short
Nado BTC-PERP+0.0100%1h86,454.3−0.016%$21.8M$234.1M50xas long as short
Hyperliquid BTC+0.0100%1h86,532+0.074%$3.79B$5.10B40xas long as short
Pacifica BTC+0.0100%1h86,494.7+0.031%$41.1M$538.1M50xas long as short
OKX BTC-USDT-SWAP+0.0100%8h86,498.5+0.035%$2.55B$12.73B100xas long as short
Ondo Perps BTC-USD.P+0.0100%1h86,474+0.007%$3.9M$18.4M25xas long as short
Arcus BTC-USD+0.0100%1h86,491.8+0.027%$7.3M$96.0M40xas long as short
Backpack BTC_USDC_PERP+0.0100%1h86,452.4−0.018%$38.0M$156.5M75xas long as short
Variational Omni BTC+0.0100%8h86,407.7−0.070%$157.0M$567.1M—as long as short
edgeX BTCUSDC+0.0100%4h86,408.7−0.069%$279.1M$946.0M100xas long as short
GRVT BTC_USDT_Perp+0.0100%8h86,429.2−0.045%$217.0M$172.4M50xas long as short
ApeX Omni BTCUSDT+0.0100%1h86,423.1−0.052%$141.3M$323.1M100xas long as short
StandX BTC-USD+0.0100%1h86,460.1−0.009%$30.7M$206.5M40xas long as short
Vest BTC-PERP+0.0100%1h86,499.5+0.036%—$11.9M50xas long as short
Polymarket Perps BTC-USD+0.0100%1h86,465−0.004%$11.1M$14.0M50xas long as short
Bullet BTC-USD+0.0100%1h86,481.3+0.015%$193K$3.3M20xas long as short
Orderly PERP_BTC_USDC+0.0100%8h86,479.4+0.013%$2.5M$9.4M100xas long as short
Bluefin BTC-PERP+0.0100%1h86,517.8+0.057%$141K$664K40xas long as short
Derive BTC-PERP+0.0100%1h86,513.7+0.053%$30.5M$62.6M15xas long as short
SunX BTC-USDT+0.0100%8h86,462.8−0.006%$3.4M$5.3M100xas long as short
SoDEX BTC-USD+0.0100%1h86,446−0.026%$60.5M$338.1M40xas long as short
HTX BTC-USDT+0.0100%8h86,458.8−0.011%$2.29B$968.2M200xas long as short
Bulk BTC-USDshort+0.0100%1h86,452.9−0.018%$572.2M$12.3M40x
Extended BTC-USD+0.0104%1h86,436.1−0.037%$45.7M$227.6M50xas long as short
Jupiter Perps WBTC-PERPlongL +0.0104% / S +0.0048%1h86,468.3long leg—$100.0M500x
Kraken Futures PF_XBTUSD+0.0110%1h86,474.3+0.007%$192.9M$953.3M100xas long as short
Coinbase International BTC-PERP-INTX+0.0112%1h86,480.4+0.014%$132.2M$5.64B50xas long as short
Aftermath Perps BTCUSD+0.0159%1h86,475.5+0.008%$78K$219K20xas long as short
Hibachi BTC/USDT-P+0.0184%1h86,484.8+0.019%$717K$8.1M30xas long as short
BloFin BTC-USDT+0.0194%8h86,439.9−0.033%$415.1M$658.6M150xas long as short
GMX BTC/USD [WBTC.b-USDC]L +0.0199% / S −0.0223%1h86,489.7+0.025%$15.0M—200xas long as short
Kalshi KXBTCPERP+0.0207%8h86,476+0.009%$10.0M$751.4M6.4xas long as short
Deribit BTC-PERPETUAL+0.0350%1h86,507+0.045%$913.2M$1.49B50xas long as short