Funding you earn now, next payment 23:00 UTC−0.0201%/8h= −22.0% APRnext payment −$0.25 per $10,000 · paid last 24h −0.044%
Price spread now: Hotstuff against Kraken Futures−0.066%7-day average — · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 3 days (all we have)—no history yet
+Price spread, last 7 days—no price history on both exchanges yet
=Both sides work against this trade now: funding costs −$6 a day on $10k at the current rate, and Hotstuff is 0.066% cheaper against Kraken Futures than usual: you would sell low and buy high (−$7 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Kraken Futures PF_XBTUSD | 86,671.8 | 0.0121 | pay 0.0015% / 1h | 37m 47s | $191.8M | $937.0M | 100x |
| Short | Hotstuff BTC-PERP | 86,615 | −0.0080 | pay 0.0010% / 1h | 37m 47s | $9K | $3K | 50x |
Kraken Futures PF_XBTUSD
Hotstuff BTC-PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Hotstuff against Kraken Futures. 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
- −$42.13
- Price spread: −0.066% → 0.000%
- −$6.56
- Slippage, 4 orders
- no order book: not counted
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Fee Hotstuff: 2.5 bp × 2 orders
- −$5
- Net
- −$63.69
- Costs to cover
- 0.150%
- Break-even
- never at this rate
Slippage unknown: Kraken Futures: live order book, 1 min ago; Hotstuff: no order-book sample. Net counts fees only.
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 Kraken Futures live order book, 1 min ago | 0.06 bp | 5.4 bp −$5 | 6.2 bp −$62 | 7.9 bp −$791 | 9.8 bp −$4,888 |
| Sell Hotstuff no order-book sample | — | — | — | — | — |
Hotstuff: 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.| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Bluefin BTC-PERP | −0.0809% | 1h | 86,685.1 | +0.015% | $141K | $618K | 40x | as long as short |
| Aftermath Perps BTCUSD | −0.0161% | 1h | 86,650.9 | −0.024% | $83K | $206K | 20x | as long as short |
| Phoenix BTC | −0.0159% | 1h | 86,688 | +0.019% | $2.2M | $11.8M | 40x | as long as short |
| Hotstuff BTC-PERPshort | −0.0080% | 1h | 86,615 | −0.066% | $9K | $3K | 50x | |
| dYdX BTC-USD | −0.0011% | 1h | 86,628.7 | −0.050% | $17.5M | $20.3M | 50x | as long as short |
| 01 Exchange BTCUSD | −0.0008% | 1h | 86,659.3 | −0.014% | $359K | $2.4M | 50x | as long as short |
| Aster BTCUSDT | −0.0007% | 8h | 86,606.5 | −0.075% | $505.4M | $1.15B | 200x | as long as short |
| Perpl BTC | 0.0000% | 43m | 86,655 | −0.019% | $419K | $23.9M | 6.7x | as long as short |
| KuCoin XBTUSDTM | +0.0001% | 8h | 86,605.3 | −0.077% | $851.8M | $707.5M | 125x | as long as short |
| gTrade (Gains Network) BTC/USD | L +0.0005% / S −0.0004% | 1h | 86,682.4 | +0.012% | $36.9M | — | 200x | as long as short |
Bluefin BTC-PERP
Aftermath Perps BTCUSD
Phoenix BTC
dYdX BTC-USD
01 Exchange BTCUSD
Aster BTCUSDT
Perpl BTC
KuCoin XBTUSDTM
gTrade (Gains Network) BTC/USDShow all 56 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| RISEx BTC/USDC | +0.0006% | 1h | 86,639.3 | −0.038% | $8.6M | $43.2M | 25x | as long as short |
| Reya BTCRUSDPERP | +0.0022% | 1h | 86,651.6 | −0.023% | $6.7M | $144.8M | 40x | as long as short |
| Injective BTC/USDC PERP | +0.0024% | 1h | 86,559 | −0.130% | $315K | $26.8M | 52x | as long as short |
| Phemex BTCUSDT | +0.0026% | 8h | 86,646.7 | −0.029% | $150.3M | $473.6M | 150x | as long as short |
| Deribit BTC-PERPETUAL | +0.0030% | 1h | 86,675.4 | +0.004% | $925.3M | $1.47B | 50x | as long as short |
| Hibachi BTC/USDT-P | +0.0032% | 1h | 86,713.3 | +0.048% | $733K | $8.2M | 30x | as long as short |
| BingX BTC-USDT | +0.0034% | 8h | 86,609.5 | −0.072% | — | $1.59B | — | as long as short |
| Bitget BTCUSDT | +0.0042% | 8h | 86,602.9 | −0.080% | $2.96B | $5.07B | 150x | as long as short |
| MEXC BTC_USDT | +0.0061% | 8h | 86,612.5 | −0.068% | $5.19B | $5.64B | 500x | as long as short |
| Binance BTCUSDT | +0.0061% | 8h | 86,605.7 | −0.076% | $9.43B | $24.31B | 150x | as long as short |
| Aevo BTC-PERP | +0.0064% | 1h | 86,631.1 | −0.047% | $2.4M | $1.3M | 20x | as long as short |
| Gate BTC_USDT | +0.0077% | 8h | 86,602 | −0.081% | $5.86B | $10.65B | 200x | as long as short |
| Bybit BTCUSDT | +0.0090% | 8h | 86,605 | −0.077% | $5.27B | $9.69B | 150x | as long as short |
| Lighter BTC | +0.0096% | 1h | 86,642 | −0.034% | $172.3M | $1.00B | 50x | as long as short |
| Lighter RH BTC | +0.0096% | 1h | 86,642 | −0.034% | $24.1M | $151.8M | 50x | as long as short |
| Popdex BTCUSDT | +0.0096% | 1h | 86,654 | −0.021% | $8.5M | $52.2M | 100x | as long as short |
| Katana Perps BTC-USD | +0.0100% | 8h | 86,617 | −0.063% | $204K | $6.9M | 50x | as long as short |
| Paradex BTC-USD-PERP | +0.0100% | 8h | 86,659.7 | −0.014% | $4.8M | $8.4M | 50x | as long as short |
| Nado BTC-PERP | +0.0100% | 1h | 86,637 | −0.040% | $21.8M | $233.4M | 50x | as long as short |
| Hyperliquid BTC | +0.0100% | 1h | 86,681 | +0.011% | $3.81B | $5.08B | 40x | as long as short |
| Pacifica BTC | +0.0100% | 1h | 86,650 | −0.025% | $41.1M | $505.2M | 50x | as long as short |
| OKX BTC-USDT-SWAP | +0.0100% | 8h | 86,607.5 | −0.074% | $2.55B | $12.69B | 100x | as long as short |
| Ondo Perps BTC-USD.P | +0.0100% | 1h | 86,623 | −0.056% | $3.9M | $18.6M | 25x | as long as short |
| Arcus BTC-USD | +0.0100% | 1h | 86,701.3 | +0.034% | $7.4M | $93.8M | 40x | as long as short |
| Bulk BTC-USD | +0.0100% | 1h | 86,703.1 | +0.036% | $573.0M | $18.8M | 40x | as long as short |
| Backpack BTC_USDC_PERP | +0.0100% | 1h | 86,626 | −0.053% | $38.5M | $153.2M | 75x | as long as short |
| Variational Omni BTC | +0.0100% | 8h | 86,696.3 | +0.028% | $156.8M | $565.9M | — | as long as short |
| edgeX BTCUSDC | +0.0100% | 4h | 86,683.8 | +0.014% | $280.1M | $943.6M | 100x | as long as short |
| GRVT BTC_USDT_Perp | +0.0100% | 8h | 86,681.9 | +0.012% | $217.5M | $175.1M | 50x | as long as short |
| ApeX Omni BTCUSDT | +0.0100% | 1h | 86,693.4 | +0.025% | $141.7M | $323.1M | 100x | as long as short |
| StandX BTC-USD | +0.0100% | 1h | 86,679.7 | +0.009% | $30.8M | $203.3M | 40x | as long as short |
| Vest BTC-PERP | +0.0100% | 1h | 86,700.9 | +0.034% | — | $11.6M | 50x | as long as short |
| Polymarket Perps BTC-USD | +0.0100% | 1h | 86,661 | −0.012% | $11.1M | $13.6M | 50x | as long as short |
| Bullet BTC-USD | +0.0100% | 1h | 86,666.6 | −0.006% | $193K | $3.3M | 20x | as long as short |
| Orderly PERP_BTC_USDC | +0.0100% | 8h | 86,664.9 | −0.008% | $2.4M | $8.6M | 100x | as long as short |
| Derive BTC-PERP | +0.0100% | 1h | 86,636.5 | −0.041% | $30.0M | $61.6M | 15x | as long as short |
| SunX BTC-USDT | +0.0100% | 8h | 86,628.3 | −0.050% | $3.4M | $5.4M | 100x | as long as short |
| SoDEX BTC-USD | +0.0100% | 1h | 86,636 | −0.041% | $60.5M | $337.0M | 40x | as long as short |
| HTX BTC-USDT | +0.0100% | 8h | 86,654.4 | −0.020% | $2.30B | $964.1M | 200x | as long as short |
| Extended BTC-USD | +0.0104% | 1h | 86,590 | −0.094% | $46.3M | $225.3M | 50x | as long as short |
| Jupiter Perps WBTC-PERP | L +0.0104% / S +0.0048% | 1h | 86,662.4 | −0.011% | — | $98.2M | 500x | as long as short |
| Coinbase International BTC-PERP-INTX | +0.0112% | 1h | 86,680.7 | +0.010% | $131.8M | $5.72B | 50x | as long as short |
| Kraken Futures PF_XBTUSDlong | +0.0121% | 1h | 86,671.8 | long leg | $191.8M | $937.0M | 100x | |
| GMX BTC/USD [WBTC.b-USDC] | L +0.0180% / S −0.0208% | 1h | 86,678.6 | +0.008% | $15.1M | — | 200x | as long as short |
| BloFin BTC-USDT | +0.0181% | 8h | 86,634.4 | −0.043% | $415.3M | $652.1M | 150x | as long as short |
| Kalshi KXBTCPERP | +0.0194% | 8h | 86,663 | −0.010% | $9.7M | $727.7M | 6.4x | as long as short |
RISEx BTC/USDC
Reya BTCRUSDPERP
Injective BTC/USDC PERP
Phemex BTCUSDT
Deribit BTC-PERPETUAL
Hibachi BTC/USDT-P
BingX BTC-USDT
Bitget BTCUSDT
MEXC BTC_USDT
Binance BTCUSDT
Aevo BTC-PERP
Gate BTC_USDT
Bybit BTCUSDT
Lighter BTC
Lighter RH BTC
Popdex BTCUSDT
Katana Perps BTC-USD
Paradex BTC-USD-PERP
Nado BTC-PERP
Hyperliquid BTC
Pacifica BTC
OKX BTC-USDT-SWAP
Ondo Perps BTC-USD.P
Arcus BTC-USD
Bulk BTC-USD
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
Derive BTC-PERP
SunX BTC-USDT
SoDEX BTC-USD
HTX BTC-USDT
Extended BTC-USD
Jupiter Perps WBTC-PERP
Coinbase International BTC-PERP-INTX
GMX BTC/USD [WBTC.b-USDC]
BloFin BTC-USDT
Kalshi KXBTCPERP