BTC

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0010%/8h= −1.1% APRnext payment −$0.01 per $10,000 · paid last 24h +0.007%

Price spread now: StandX against Kraken Futures−0.079%46s7-day average −0.026% · you buy dearer than you sell

Net, funding: paid 7d − costs−$20as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$220.220% of the position

Long on Kraken Futures Short on StandX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.017%+$2 on $10k

Price spread, last 3 days (all we have)+0.060%+$6 · spread now −0.079%, 7d avg −0.026%

Together, before fees+0.078%+ Points / potential airdropStandX: Active · farm board+$8 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs $0 a day on $10k at the current rate, and StandX is 0.053% cheaper against Kraken Futures than usual: you would sell low and buy high (−$5 if the spread goes back to its 7-day average of −0.026%). Swap the legs. The two prices were read 46 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_XBTUSD	86,625.1	0.0110	pay 0.0014% / 1h	47m 26s	$193.7M	$951.3M	100x
Short	StandX BTC-USD	86,556.8	0.0100	get 0.0013% / 1h	47m 26s	$30.7M	$204.6M	40x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

StandX 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 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 Kraken FuturesbpFee StandXbpOrdersPrice spread, now −0.079%Rate

Funding earned: −$2.08
Price spread: −0.079% → −0.026%: −$5.26
Slippage, 4 orders: −$4
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee StandX: 4 bp × 2 orders: −$8
Net: −$29.34
Costs to cover: 0.220%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 2 min ago; StandX: live order book, 2 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, 2 min ago	0.06 bp	5.9 bp −$6	7.2 bp −$72	8.4 bp −$840	9.9 bp −$4,935
Sell StandX live order book, 2 min ago	1.10 bp	5.1 bp −$5	6.6 bp −$66	7.8 bp −$783	10.1 bp −$5,054

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	−0.0118%	1h	86,505	−0.139%	$2.2M	$11.8M	40x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	86,590	−0.041%	$9K	$3K	50x	as long as short
Injective BTC/USDC PERP	−0.0035%	1h	86,601	−0.028%	$333K	$26.8M	52x	as long as short
RISEx BTC/USDC	−0.0024%	1h	86,589.5	−0.041%	$8.3M	$42.9M	25x	as long as short
01 Exchange BTCUSD	−0.0024%	1h	86,606.1	−0.022%	$358K	$2.5M	50x	as long as short
Aster BTCUSDT	−0.0001%	8h	86,583.2	−0.048%	$502.6M	$1.15B	200x	as long as short
Deribit BTC-PERPETUAL	+0.0003%	1h	86,628.6	+0.004%	$916.3M	$1.49B	50x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0005% / S −0.0004%	1h	86,577.9	−0.055%	$36.9M	—	200x	as long as short
KuCoin XBTUSDTM	+0.0011%	8h	86,584.1	−0.047%	$851.2M	$714.3M	125x	as long as short
Reya BTCRUSDPERP	+0.0026%	1h	86,565.8	−0.069%	$6.7M	$145.3M	40x	as long as short

Show all 56 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
dYdX BTC-USD	+0.0035%	1h	86,586.1	−0.045%	$17.0M	$21.1M	50x	as long as short
Phemex BTCUSDT	+0.0040%	8h	86,592.7	−0.037%	$150.0M	$479.6M	150x	as long as short
BingX BTC-USDC	+0.0041%	8h	86,569.2	−0.065%	—	$15.4M	—	as long as short
Bitget BTCUSDT	+0.0052%	8h	86,567.6	−0.066%	$2.96B	$5.12B	150x	as long as short
MEXC BTC_USDT	+0.0071%	8h	86,560	−0.075%	$5.16B	$5.63B	500x	as long as short
Binance BTCUSDT	+0.0072%	8h	86,580.4	−0.052%	$9.43B	$24.55B	150x	as long as short
Aevo BTC-PERP	+0.0072%	1h	86,612.1	−0.015%	$2.4M	$1.3M	20x	as long as short
Gate BTC_USDT	+0.0083%	8h	86,581.6	−0.050%	$5.88B	$10.72B	200x	as long as short
Lighter BTC	+0.0096%	1h	86,616	−0.011%	$170.4M	$1.01B	50x	as long as short
Lighter RH BTC	+0.0096%	1h	86,613.8	−0.013%	$24.2M	$151.4M	50x	as long as short
Popdex BTCUSDT	+0.0096%	1h	86,574	−0.059%	$8.5M	$52.5M	100x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	86,560	−0.075%	$199K	$7.0M	50x	as long as short
Paradex BTC-USD-PERP	+0.0100%	8h	86,625.5	0.000%	$4.8M	$8.6M	50x	as long as short
Nado BTC-PERP	+0.0100%	1h	86,591.1	−0.039%	$21.8M	$234.7M	50x	as long as short
Hyperliquid BTC	+0.0100%	1h	86,647	+0.025%	$3.80B	$5.11B	40x	as long as short
Pacifica BTC	+0.0100%	1h	86,634.7	+0.011%	$40.8M	$524.0M	50x	as long as short
Bybit BTCUSDT	+0.0100%	8h	86,584.4	−0.047%	$5.26B	$9.82B	150x	as long as short
OKX BTC-USDT-SWAP	+0.0100%	8h	86,571.6	−0.062%	$2.55B	$12.76B	100x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	86,598	−0.031%	$3.9M	$18.6M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	86,613.3	−0.014%	$7.6M	$95.0M	40x	as long as short
Bulk BTC-USD	+0.0100%	1h	86,560.7	−0.074%	$572.5M	$17.8M	40x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	86,611.9	−0.015%	$38.0M	$155.0M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	86,524.8	−0.116%	$155.3M	$568.2M	—	as long as short
edgeX BTCUSDC	+0.0100%	4h	86,501.6	−0.143%	$279.5M	$946.4M	100x	as long as short
GRVT BTC_USDT_Perp	+0.0100%	8h	86,516.2	−0.126%	$217.3M	$172.2M	50x	as long as short
ApeX Omni BTCUSDT	+0.0100%	1h	86,541.7	−0.096%	$141.4M	$323.6M	100x	as long as short
StandX BTC-USDshort	+0.0100%	1h	86,556.8	−0.079%	$30.7M	$204.6M	40x
Vest BTC-PERP	+0.0100%	1h	86,623.2	−0.002%	—	$11.9M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	86,578	−0.054%	$11.1M	$13.8M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	86,556.7	−0.079%	$190K	$3.3M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	86,595.3	−0.034%	$2.4M	$8.9M	100x	as long as short
Bluefin BTC-PERP	+0.0100%	1h	86,619.8	−0.006%	$140K	$663K	40x	as long as short
Derive BTC-PERP	+0.0100%	1h	86,622.3	−0.003%	$30.6M	$62.5M	15x	as long as short
SunX BTC-USDT	+0.0100%	8h	86,551.6	−0.085%	$3.4M	$5.4M	100x	as long as short
SoDEX BTC-USD	+0.0100%	1h	86,589	−0.042%	$60.5M	$337.6M	40x	as long as short
HTX BTC-USDT	+0.0100%	8h	86,587	−0.044%	$2.30B	$970.4M	200x	as long as short
Extended BTC-USD	+0.0104%	1h	86,562.8	−0.072%	$45.4M	$226.9M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0048%	1h	86,608.1	−0.020%	—	$99.1M	500x	as long as short
Aftermath Perps BTCUSD	+0.0108%	1h	86,568	−0.066%	$79K	$220K	20x	as long as short
Kraken Futures PF_XBTUSDlong	+0.0110%	1h	86,625.1	long leg	$193.7M	$951.3M	100x
Perpl BTC	+0.0112%	43m	86,617.7	−0.009%	$419K	$23.3M	6.7x	as long as short
Coinbase International BTC-PERP-INTX	+0.0112%	1h	86,638.7	+0.016%	$132.8M	$5.68B	50x	as long as short
Hibachi BTC/USDT-P	+0.0176%	1h	86,615.5	−0.011%	$729K	$8.1M	30x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0191% / S −0.0214%	1h	86,605.3	−0.023%	$15.1M	—	200x	as long as short
BloFin BTC-USDT	+0.0192%	8h	86,519.3	−0.122%	$414.3M	$658.1M	150x	as long as short
Kalshi KXBTCPERP	+0.0205%	8h	86,603	−0.026%	$9.7M	$741.4M	6.4x	as long as short