Funding you earn now, next payment 05:00 UTC+0.0039%/8h= +4.3% APRnext payment +$0.05 per $10,000 · paid last 24h −0.002%
Price spread now: RISEx against Kraken Futures+0.045%7-day average +0.001% · 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−$13as in the Price arb table
costs, in and out, $10k−$180.176% of the position
Funding, last 4 days (all we have)+0.031%+$3 on $10k
+Price spread, last 4 days (all we have)−0.024%−$2 · spread now +0.045%, 7d avg +0.001%
=Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and RISEx is 0.043% dearer against Kraken Futures than usual: you sell high and buy low: +$4 more if the spread goes back to its 7-day average of +0.001%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Kraken Futures PF_XBTUSD | 85,481.9 | 0.0135 | pay 0.0017% / 1h | 25m 50s | $187.5M | $954.7M | 100x |
| Short | RISEx BTC/USDC | 85,520.1 | 0.0174 | get 0.0022% / 1h | 25m 50s | $8.7M | $42.9M | 25x |
Kraken Futures PF_XBTUSD
RISEx BTC/USDCFunding history
latest
Range statsloading…
Price spread between the two exchanges
RISEx 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
- $8.25
- Price spread: +0.045% → +0.001%
- $4.33
- Slippage, 4 orders
- −$1.62
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Fee RISEx: 3 bp × 2 orders
- −$6
- Net
- −$5.05
- Costs to cover
- 0.176%
- Break-even
- 11.3 days
Slippage from Kraken Futures: 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 Kraken Futures live order book, 3 min ago | 0.06 bp | 5.4 bp −$5 | 6.1 bp −$61 | 7.3 bp −$735 | 9.2 bp −$4,594 |
| Sell RISEx live order book, 3 min ago | 0.01 bp | 3.0 bp −$3 | 3.0 bp −$30 | 10.5 bp −$1,046 | 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 | |
|---|---|---|---|---|---|---|---|---|
| Phoenix BTC | −0.0140% | 1h | 85,526 | +0.052% | $2.1M | $10.4M | 40x | as long as short |
| Hotstuff BTC-PERP | −0.0080% | 1h | 85,500 | +0.021% | $8K | $3K | 50x | as long as short |
| KuCoin XBTUSDTM | −0.0042% | 8h | 85,454.1 | −0.033% | $918.1M | $757.4M | 125x | as long as short |
| BloFin BTC-USDT | −0.0020% | 8h | 85,495.6 | +0.016% | $419.0M | $675.7M | 150x | as long as short |
| 01 Exchange BTCUSD | −0.0016% | 1h | 85,491.5 | +0.011% | $365K | $2.3M | 50x | as long as short |
| Aster BTCUSDT | 0.0000% | 8h | 85,454.4 | −0.032% | $514.6M | $1.10B | 200x | as long as short |
| Perpl BTC | 0.0000% | 43m | 85,489.6 | +0.009% | $502K | $18.7M | 6.7x | as long as short |
| Nado BTC-PERP | +0.0004% | 1h | 85,483 | +0.001% | $24.6M | $223.3M | 50x | as long as short |
| gTrade (Gains Network) BTC/USD | L +0.0004% / S −0.0004% | 1h | 85,485.8 | +0.005% | $36.5M | — | 200x | as long as short |
| dYdX BTC-USD | +0.0039% | 1h | 85,528.6 | +0.055% | $16.8M | $21.2M | 50x | as long as short |
Phoenix BTC
Hotstuff BTC-PERP
KuCoin XBTUSDTM
BloFin BTC-USDT
01 Exchange BTCUSD
Aster BTCUSDT
Perpl BTC
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 | |
|---|---|---|---|---|---|---|---|---|
| Injective BTC/USDC PERP | +0.0044% | 1h | 85,514 | +0.037% | $339K | $26.9M | 52x | as long as short |
| BingX BTC-USDT | +0.0065% | 8h | 85,458.7 | −0.027% | — | $1.54B | — | as long as short |
| SoDEX BTC-USD | +0.0066% | 1h | 85,456 | −0.030% | $59.9M | $336.0M | 40x | as long as short |
| Deribit BTC-PERPETUAL | +0.0066% | 1h | 85,508.1 | +0.031% | $884.7M | $1.59B | 50x | as long as short |
| Phemex BTCUSDT | +0.0073% | 8h | 85,471 | −0.013% | $148.3M | $495.5M | 150x | as long as short |
| Bitget BTCUSDT | +0.0080% | 8h | 85,450.9 | −0.036% | $2.95B | $5.11B | 150x | as long as short |
| Lighter BTC | +0.0096% | 1h | 85,466.3 | −0.018% | $172.0M | $1.02B | 50x | as long as short |
| Lighter RH BTC | +0.0096% | 1h | 85,472.7 | −0.011% | $24.0M | $148.6M | 50x | as long as short |
| Popdex BTCUSDT | +0.0096% | 1h | 85,479 | −0.003% | $8.4M | $55.0M | 100x | as long as short |
| Aevo BTC-PERP | +0.0096% | 1h | 85,452.9 | −0.034% | $2.7M | $2.0M | 20x | as long as short |
| Binance BTCUSDT | +0.0099% | 8h | 85,455 | −0.032% | $9.43B | $24.41B | 150x | as long as short |
| Katana Perps BTC-USD | +0.0100% | 8h | 85,472 | −0.012% | $209K | $8.3M | 50x | as long as short |
| Paradex BTC-USD-PERP | +0.0100% | 8h | 85,539.4 | +0.067% | $5.7M | $9.4M | 50x | as long as short |
| Hyperliquid BTC | +0.0100% | 1h | 85,540 | +0.068% | $3.79B | $5.02B | 40x | as long as short |
| Pacifica BTC | +0.0100% | 1h | 85,521.5 | +0.046% | $40.1M | $588.0M | 50x | as long as short |
| Bybit BTCUSDT | +0.0100% | 8h | 85,453.3 | −0.034% | $5.18B | $9.86B | 150x | as long as short |
| OKX BTC-USDT-SWAP | +0.0100% | 8h | 85,466.3 | −0.018% | $2.59B | $12.12B | 100x | as long as short |
| Ondo Perps BTC-USD.P | +0.0100% | 1h | 85,474 | −0.009% | $3.8M | $17.8M | 25x | as long as short |
| Arcus BTC-USD | +0.0100% | 1h | 85,481.7 | 0.000% | $4.7M | $100.4M | 40x | as long as short |
| Bulk BTC-USD | +0.0100% | 1h | 85,517.4 | +0.042% | $680.3M | $725.5M | 40x | as long as short |
| Gate BTC_USDT | +0.0100% | 8h | 85,464.5 | −0.020% | $5.53B | $10.81B | 200x | as long as short |
| MEXC BTC_USDT | +0.0100% | 8h | 85,456.5 | −0.030% | $5.06B | $5.66B | 500x | as long as short |
| Backpack BTC_USDC_PERP | +0.0100% | 1h | 85,454.9 | −0.032% | $36.2M | $179.0M | 75x | as long as short |
| Variational Omni BTC | +0.0100% | 8h | 85,453 | −0.034% | $154.1M | $565.9M | — | as long as short |
| edgeX BTCUSDC | +0.0100% | 4h | 85,513.5 | +0.037% | $279.3M | $928.2M | 100x | as long as short |
| GRVT BTC_USDT_Perp | +0.0100% | 8h | 85,538.4 | +0.066% | $215.0M | $168.8M | 50x | as long as short |
| ApeX Omni BTCUSDT | +0.0100% | 1h | 85,591 | +0.128% | $139.9M | $315.5M | 100x | as long as short |
| StandX BTC-USD | +0.0100% | 1h | 85,549 | +0.078% | $30.2M | $207.2M | 40x | as long as short |
| Vest BTC-PERP | +0.0100% | 1h | 85,544.4 | +0.073% | — | $11.2M | 50x | as long as short |
| Polymarket Perps BTC-USD | +0.0100% | 1h | 85,486 | +0.005% | $11.1M | $14.3M | 50x | as long as short |
| Bullet BTC-USD | +0.0100% | 1h | 85,474 | −0.009% | $199K | $3.3M | 20x | as long as short |
| Orderly PERP_BTC_USDC | +0.0100% | 8h | 85,463.2 | −0.022% | $2.5M | $8.9M | 100x | as long as short |
| Bluefin BTC-PERP | +0.0100% | 1h | 85,509.4 | +0.032% | $207K | $738K | 40x | as long as short |
| Derive BTC-PERP | +0.0100% | 1h | 85,458.2 | −0.028% | $30.0M | $50.1M | 15x | as long as short |
| SunX BTC-USDT | +0.0100% | 8h | 85,462.6 | −0.023% | $2.9M | $6.1M | 100x | as long as short |
| HTX BTC-USDT | +0.0100% | 8h | 85,458.6 | −0.027% | $2.26B | $948.7M | 200x | as long as short |
| Reya BTCRUSDPERP | +0.0100% | 1h | 85,479.3 | −0.003% | $6.6M | $147.1M | 40x | as long as short |
| Extended BTC-USD | +0.0104% | 1h | 85,430.1 | −0.061% | $45.0M | $233.6M | 50x | as long as short |
| Jupiter Perps WBTC-PERP | L +0.0104% / S +0.0048% | 1h | 85,492.8 | +0.013% | — | $107.3M | 500x | as long as short |
| Coinbase International BTC-PERP-INTX | +0.0104% | 1h | 85,494.4 | +0.015% | $117.2M | $5.25B | 50x | as long as short |
| Kraken Futures PF_XBTUSDlong | +0.0135% | 1h | 85,481.9 | long leg | $187.5M | $954.7M | 100x | |
| RISEx BTC/USDCshort | +0.0174% | 1h | 85,520.1 | +0.045% | $8.7M | $42.9M | 25x | |
| GMX BTC/USD [WBTC.b-USDC] | L +0.0176% / S −0.0149% | 1h | 85,490.3 | +0.010% | $13.1M | — | 200x | as long as short |
| Kalshi KXBTCPERP | +0.0188% | 8h | 85,509 | +0.032% | $11.7M | $754.3M | 6.4x | as long as short |
| Hibachi BTC/USDT-P | +0.0248% | 1h | 85,531.5 | +0.058% | $697K | $7.9M | 30x | as long as short |
| Aftermath Perps BTCUSD | +0.0250% | 1h | 85,536.5 | +0.064% | $78K | $221K | 20x | as long as short |
Injective BTC/USDC PERP
BingX BTC-USDT
SoDEX BTC-USD
Deribit BTC-PERPETUAL
Phemex BTCUSDT
Bitget BTCUSDT
Lighter BTC
Lighter RH BTC
Popdex BTCUSDT
Aevo BTC-PERP
Binance BTCUSDT
Katana Perps BTC-USD
Paradex BTC-USD-PERP
Hyperliquid BTC
Pacifica BTC
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
Reya BTCRUSDPERP
Extended BTC-USD
Jupiter Perps WBTC-PERP
Coinbase International BTC-PERP-INTX
GMX BTC/USD [WBTC.b-USDC]
Kalshi KXBTCPERP
Hibachi BTC/USDT-P
Aftermath Perps BTCUSD