Funding you earn now, next payment 01:00 UTC−0.0153%/8h= −16.8% APRnext payment −$0.19 per $10,000 · paid last 24h −0.025%
Price spread now: 01 Exchange against Kraken Futures−0.026%7-day average +0.001% · you buy dearer than you sell
Net, funding: paid 7d − costs—under 7 days of funding history
Net, price: spread back to 7d avg − costs−$23as in the Price arb table
costs, in and out, $10k−$200.198% of the position
Funding, last 3 days (all we have)−0.048%−$5 on $10k
+Price spread, last 3 days (all we have)+0.040%+$4 · spread now −0.026%, 7d avg +0.001%
=Both sides work against this trade now: funding costs −$5 a day on $10k at the current rate, and 01 Exchange is 0.027% cheaper against Kraken Futures than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of +0.001%). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Kraken Futures PF_XBTUSD | 86,449.1 | 0.0121 | pay 0.0015% / 1h | 55m 54s | $193.0M | $951.2M | 100x |
| Short | 01 Exchange BTCUSD | 86,426.3 | −0.0032 | pay 0.0004% / 1h | 55m 54s | $360K | $2.4M | 50x |
Kraken Futures PF_XBTUSD
01 Exchange BTCUSDFunding history
latest
Range statsloading…
Price spread between the two exchanges
01 Exchange 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
- −$32.13
- Price spread: −0.026% → +0.001%
- −$2.73
- Slippage, 4 orders
- −$2.82
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Fee 01 Exchange: 3.5 bp × 2 orders
- −$7
- Net
- −$54.69
- Costs to cover
- 0.198%
- Break-even
- never at this rate
Slippage from Kraken Futures: live order book, 3 min ago; 01 Exchange: 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 | 6.0 bp −$6 | 7.0 bp −$70 | 8.7 bp −$866 | 10.7 bp −$5,366 |
| Sell 01 Exchange live order book, 3 min ago | 0.01 bp | 4.0 bp −$4 | 8.9 bp −$89 | doesn't fit | 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 | |
|---|---|---|---|---|---|---|---|---|
| Bluefin BTC-PERP | −0.0874% | 1h | 86,438.1 | −0.013% | $140K | $664K | 40x | as long as short |
| Phoenix BTC | −0.0118% | 1h | 86,544 | +0.110% | $2.2M | $11.2M | 40x | as long as short |
| Hotstuff BTC-PERP | −0.0080% | 1h | 86,443 | −0.007% | $9K | $3K | 50x | as long as short |
| 01 Exchange BTCUSDshort | −0.0032% | 1h | 86,426.3 | −0.026% | $360K | $2.4M | 50x | |
| Perpl BTC | 0.0000% | 43m | 86,457.4 | +0.010% | $416K | $22.2M | 6.7x | as long as short |
| gTrade (Gains Network) BTC/USD | L +0.0005% / S −0.0004% | 1h | 86,433.3 | −0.018% | $36.9M | — | 200x | as long as short |
| dYdX BTC-USD | +0.0009% | 1h | 86,458.7 | +0.011% | $16.9M | $21.2M | 50x | as long as short |
| Aster BTCUSDT | +0.0015% | 8h | 86,413.8 | −0.041% | $501.3M | $1.15B | 200x | as long as short |
| Injective BTC/USDC PERP | +0.0023% | 1h | 86,616 | +0.193% | $333K | $26.9M | 52x | as long as short |
| KuCoin XBTUSDTM | +0.0029% | 8h | 86,421.8 | −0.032% | $834.0M | $727.4M | 125x | as long as short |
Bluefin BTC-PERP
Phoenix BTC
Hotstuff BTC-PERP
Perpl BTC
gTrade (Gains Network) BTC/USD
dYdX BTC-USD
Aster BTCUSDT
Injective BTC/USDC PERP
KuCoin XBTUSDTMShow all 56 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Deribit BTC-PERPETUAL | +0.0035% | 1h | 86,448.9 | 0.000% | $907.1M | $1.50B | 50x | as long as short |
| Reya BTCRUSDPERP | +0.0040% | 1h | 86,409.4 | −0.046% | $6.7M | $145.7M | 40x | as long as short |
| BingX BTC-USDC | +0.0046% | 8h | 86,395.5 | −0.062% | — | $15.3M | — | as long as short |
| RISEx BTC/USDC | +0.0052% | 1h | 86,429.3 | −0.023% | $8.4M | $42.8M | 25x | as long as short |
| Bitget BTCUSDT | +0.0058% | 8h | 86,418 | −0.036% | $2.96B | $5.11B | 150x | as long as short |
| SoDEX BTC-USD | +0.0062% | 1h | 86,409 | −0.046% | $60.4M | $338.1M | 40x | as long as short |
| MEXC BTC_USDT | +0.0076% | 8h | 86,408.7 | −0.047% | $5.14B | $5.64B | 500x | as long as short |
| Binance BTCUSDT | +0.0076% | 8h | 86,406 | −0.050% | $9.43B | $24.53B | 150x | as long as short |
| Aevo BTC-PERP | +0.0080% | 1h | 86,451.9 | +0.003% | $2.5M | $1.3M | 20x | as long as short |
| Lighter BTC | +0.0096% | 1h | 86,426.9 | −0.026% | $170.1M | $979.9M | 50x | as long as short |
| Lighter RH BTC | +0.0096% | 1h | 86,431.6 | −0.020% | $23.7M | $148.6M | 50x | as long as short |
| Popdex BTCUSDT | +0.0096% | 1h | 86,418 | −0.036% | $8.4M | $52.3M | 100x | as long as short |
| Bybit BTCUSDT | +0.0099% | 8h | 86,409.7 | −0.046% | $5.26B | $9.77B | 150x | as long as short |
| Katana Perps BTC-USD | +0.0100% | 8h | 86,405 | −0.051% | $199K | $7.1M | 50x | as long as short |
| Paradex BTC-USD-PERP | +0.0100% | 8h | 86,478 | +0.033% | $4.8M | $8.5M | 50x | as long as short |
| Nado BTC-PERP | +0.0100% | 1h | 86,449.6 | 0.000% | $22.1M | $233.4M | 50x | as long as short |
| Hyperliquid BTC | +0.0100% | 1h | 86,490 | +0.047% | $3.79B | $5.11B | 40x | as long as short |
| Pacifica BTC | +0.0100% | 1h | 86,477.5 | +0.033% | $40.8M | $540.8M | 50x | as long as short |
| OKX BTC-USDT-SWAP | +0.0100% | 8h | 86,414.9 | −0.040% | $2.55B | $12.70B | 100x | as long as short |
| Ondo Perps BTC-USD.P | +0.0100% | 1h | 86,451 | +0.002% | $3.9M | $18.1M | 25x | as long as short |
| Arcus BTC-USD | +0.0100% | 1h | 86,463.2 | +0.016% | $7.3M | $96.7M | 40x | as long as short |
| Bulk BTC-USD | +0.0100% | 1h | 86,523.6 | +0.086% | $572.9M | $12.4M | 40x | as long as short |
| Gate BTC_USDT | +0.0100% | 8h | 86,412.1 | −0.043% | $5.85B | $10.43B | 200x | as long as short |
| Backpack BTC_USDC_PERP | +0.0100% | 1h | 86,409.4 | −0.046% | $37.7M | $156.1M | 75x | as long as short |
| Variational Omni BTC | +0.0100% | 8h | 86,440 | −0.011% | $157.9M | $568.6M | — | as long as short |
| edgeX BTCUSDC | +0.0100% | 4h | 86,572.4 | +0.143% | $279.6M | $946.5M | 100x | as long as short |
| GRVT BTC_USDT_Perp | +0.0100% | 8h | 86,585.4 | +0.158% | $217.4M | $171.3M | 50x | as long as short |
| ApeX Omni BTCUSDT | +0.0100% | 1h | 86,575 | +0.146% | $141.8M | $323.5M | 100x | as long as short |
| StandX BTC-USD | +0.0100% | 1h | 86,491 | +0.048% | $30.7M | $208.2M | 40x | as long as short |
| Vest BTC-PERP | +0.0100% | 1h | 86,477.5 | +0.033% | — | $11.9M | 50x | as long as short |
| Polymarket Perps BTC-USD | +0.0100% | 1h | 86,416 | −0.038% | $11.1M | $14.0M | 50x | as long as short |
| Bullet BTC-USD | +0.0100% | 1h | 86,409.8 | −0.046% | $193K | $3.3M | 20x | as long as short |
| Orderly PERP_BTC_USDC | +0.0100% | 8h | 86,404.6 | −0.052% | $2.5M | $9.3M | 100x | as long as short |
| Derive BTC-PERP | +0.0100% | 1h | 86,446.5 | −0.003% | $30.5M | $62.7M | 15x | as long as short |
| SunX BTC-USDT | +0.0100% | 8h | 86,398.5 | −0.059% | $3.4M | $5.3M | 100x | as long as short |
| HTX BTC-USDT | +0.0100% | 8h | 86,419.2 | −0.035% | $2.29B | $969.2M | 200x | as long as short |
| Phemex BTCUSDT | +0.0100% | 8h | 86,417.3 | −0.037% | $152.9M | $479.4M | 150x | as long as short |
| Extended BTC-USD | +0.0104% | 1h | 86,404.4 | −0.052% | $45.8M | $224.8M | 50x | as long as short |
| Jupiter Perps WBTC-PERP | L +0.0104% / S +0.0048% | 1h | 86,466.3 | +0.020% | — | $99.9M | 500x | as long as short |
| Coinbase International BTC-PERP-INTX | +0.0120% | 1h | 86,461 | +0.014% | $132.5M | $5.61B | 50x | as long as short |
| Kraken Futures PF_XBTUSDlong | +0.0121% | 1h | 86,449.1 | long leg | $193.0M | $951.2M | 100x | |
| Aftermath Perps BTCUSD | +0.0165% | 1h | 86,537.8 | +0.103% | $78K | $218K | 20x | as long as short |
| Hibachi BTC/USDT-P | +0.0176% | 1h | 86,563.5 | +0.132% | $716K | $8.0M | 30x | as long as short |
| BloFin BTC-USDT | +0.0197% | 8h | 86,444.4 | −0.005% | $414.8M | $658.9M | 150x | as long as short |
| GMX BTC/USD [WBTC.b-USDC] | L +0.0201% / S −0.0222% | 1h | 86,425.4 | −0.027% | $14.8M | — | 200x | as long as short |
| Kalshi KXBTCPERP | +0.0212% | 8h | 86,467 | +0.021% | $9.2M | $758.1M | 6.4x | as long as short |
Deribit BTC-PERPETUAL
Reya BTCRUSDPERP
BingX BTC-USDC
RISEx BTC/USDC
Bitget BTCUSDT
SoDEX BTC-USD
MEXC BTC_USDT
Binance BTCUSDT
Aevo BTC-PERP
Lighter BTC
Lighter RH BTC
Popdex BTCUSDT
Bybit 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
Gate 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
Derive BTC-PERP
SunX BTC-USDT
HTX BTC-USDT
Phemex BTCUSDT
Extended BTC-USD
Jupiter Perps WBTC-PERP
Coinbase International BTC-PERP-INTX
Aftermath Perps BTCUSD
Hibachi BTC/USDT-P
BloFin BTC-USDT
GMX BTC/USD [WBTC.b-USDC]
Kalshi KXBTCPERP