BTC

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0053%/8h= +5.8% APRnext payment +$0.07 per $10,000 · paid last 24h −0.025%

Price spread now: Reya against Ondo Perps−0.001%7-day average −0.051% · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Ondo Perps Short on Reya

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.018%−$2 on $10k

Price spread, last 7 days+0.109%+$11 · spread now −0.001%, 7d avg −0.051%

Together, before fees+0.091%+ Points / potential airdropOndo Perps: Active · Reya: Active · farm board+$9 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and Reya is 0.050% dearer against Ondo Perps than usual: you sell high and buy low: +$5 more if the spread goes back to its 7-day average of −0.051%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Ondo Perps BTC-USD.P	86,241	0.0100	pay 0.0013% / 1h	4m 12s	$4.0M	$16.4M	25x
Short	Reya BTCRUSDPERP	86,240.2	0.0153	get 0.0019% / 1h	4m 12s	$6.7M	$133.0M	40x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Reya against Ondo Perps. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 Ondo PerpsbpFee ReyabpOrdersPrice spread, now −0.001%Rate

Funding earned: $11.17
Price spread: −0.001% → −0.051%: $4.97
Slippage, 4 orders: no order book: not counted
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Fee Reya: 3 bp × 2 orders: −$6
Net: $5.14
Costs to cover: 0.110%
Break-even: 3.8 days

Slippage unknown: Ondo Perps: no order-book sample; Reya: 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 Ondo Perps no order-book sample	—	—	—	—	—
Sell Reya no order-book sample	—	—	—	—	—

Ondo Perps and Reya: 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 55 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	−0.0242%	1h	86,308.1	+0.078%	$196K	$673K	40x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	86,228	−0.015%	$8K	$2K	50x	as long as short
BloFin BTC-USDT	−0.0020%	8h	86,242.6	+0.002%	$423.5M	$624.0M	150x	as long as short
01 Exchange BTCUSD	−0.0016%	1h	86,264.9	+0.028%	$361K	$2.1M	50x	as long as short
Injective BTC/USDC PERP	−0.0006%	1h	86,315	+0.086%	$302K	$28.2M	52x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0004% / S −0.0004%	1h	86,268	+0.031%	$36.9M	—	200x	as long as short
KuCoin XBTUSDTM	+0.0033%	8h	86,260.2	+0.022%	$939.3M	$667.7M	125x	as long as short
dYdX BTC-USD	+0.0035%	1h	86,243	+0.002%	$16.9M	$17.8M	50x	as long as short
Aster BTCUSDT	+0.0049%	8h	86,257.3	+0.019%	$504.8M	$975.3M	200x	as long as short
Bybit BTCUSDT	+0.0057%	8h	86,244	+0.003%	$5.12B	$9.03B	150x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phemex BTCUSDT	+0.0057%	8h	86,256	+0.017%	$168.1M	$499.2M	150x	as long as short
BingX BTC-USDC	+0.0058%	8h	86,233.7	−0.008%	—	$16.8M	—	as long as short
Kraken Futures PF_XBTUSD	+0.0068%	1h	86,276.9	+0.042%	$189.6M	$867.5M	100x	as long as short
Phoenix BTC	+0.0075%	1h	86,283	+0.049%	$2.3M	$10.4M	40x	as long as short
Lighter BTC	+0.0096%	1h	86,271.5	+0.035%	$173.4M	$968.6M	50x	as long as short
Lighter RH BTC	+0.0096%	1h	86,275.1	+0.040%	$23.4M	$137.8M	50x	as long as short
Popdex BTCUSDT	+0.0096%	1h	86,266	+0.029%	$8.8M	$52.5M	100x	as long as short
Aevo BTC-PERP	+0.0096%	1h	86,251.6	+0.012%	$2.4M	$6.7M	20x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	86,243	+0.002%	$223K	$8.2M	50x	as long as short
Paradex BTC-USD-PERP	+0.0100%	8h	86,288.9	+0.056%	$6.1M	$8.7M	50x	as long as short
Nado BTC-PERP	+0.0100%	1h	86,266.9	+0.030%	$22.0M	$210.0M	50x	as long as short
Pacifica BTC	+0.0100%	1h	86,275	+0.039%	$40.3M	$585.4M	50x	as long as short
Binance BTCUSDT	+0.0100%	8h	86,258.3	+0.020%	$9.48B	$23.06B	150x	as long as short
OKX BTC-USDT-SWAP	+0.0100%	8h	86,240.4	−0.001%	$2.62B	$10.79B	100x	as long as short
Ondo Perps BTC-USD.Plong	+0.0100%	1h	86,241	long leg	$4.0M	$16.4M	25x
Arcus BTC-USD	+0.0100%	1h	86,298.5	+0.067%	$4.6M	$93.5M	40x	as long as short
Bulk BTC-USD	+0.0100%	1h	86,176.9	−0.074%	$711.8M	$175.1M	40x	as long as short
Gate BTC_USDT	+0.0100%	8h	86,253.6	+0.015%	$5.48B	$10.30B	200x	as long as short
MEXC BTC_USDT	+0.0100%	8h	86,253.6	+0.015%	$5.08B	$5.91B	500x	as long as short
Bitget BTCUSDT	+0.0100%	8h	86,247.3	+0.007%	$2.99B	$4.55B	150x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	86,245.3	+0.005%	$37.7M	$188.0M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	86,275.4	+0.040%	$158.2M	$510.0M	—	as long as short
edgeX BTCUSDC	+0.0100%	4h	86,191	−0.058%	$289.7M	$984.8M	100x	as long as short
GRVT BTC_USDT_Perp	+0.0100%	8h	86,244.2	+0.004%	$216.6M	$144.0M	50x	as long as short
ApeX Omni BTCUSDT	+0.0100%	1h	86,228.6	−0.014%	$137.3M	$302.1M	100x	as long as short
StandX BTC-USD	+0.0100%	1h	86,315.8	+0.087%	$30.4M	$212.9M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	86,325.3	+0.098%	—	$10.3M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	86,262	+0.024%	$11.0M	$13.5M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	86,255	+0.016%	$207K	$3.3M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	86,267.4	+0.031%	$2.6M	$9.5M	100x	as long as short
SunX BTC-USDT	+0.0100%	8h	86,252.9	+0.014%	$3.2M	$7.0M	100x	as long as short
SoDEX BTC-USD	+0.0100%	1h	86,257	+0.019%	$60.4M	$257.8M	40x	as long as short
HTX BTC-USDT	+0.0100%	8h	86,255.2	+0.016%	$2.28B	$910.2M	200x	as long as short
Extended BTC-USD	+0.0104%	1h	86,238.8	−0.003%	$46.4M	$219.9M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0048%	1h	86,264.2	+0.027%	—	$94.4M	500x	as long as short
Coinbase International BTC-PERP-INTX	+0.0112%	1h	86,301	+0.070%	$112.6M	$5.29B	50x	as long as short
Hyperliquid BTC	+0.0143%	1h	86,333	+0.107%	$3.88B	$4.74B	40x	as long as short
Reya BTCRUSDPERPshort	+0.0153%	1h	86,240.2	−0.001%	$6.7M	$133.0M	40x
Deribit BTC-PERPETUAL	+0.0167%	1h	86,312.5	+0.083%	$832.4M	$1.61B	50x	as long as short
Kalshi KXBTCPERP	+0.0188%	8h	86,259	+0.021%	$11.1M	$725.8M	6.4x	as long as short
RISEx BTC/USDC	+0.0194%	1h	86,284.3	+0.050%	$8.9M	$40.7M	25x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0200% / S −0.0185%	1h	86,264.1	+0.027%	$13.3M	—	200x	as long as short
Hibachi BTC/USDT-P	+0.0280%	1h	86,272.2	+0.036%	$683K	$7.4M	30x	as long as short
Aftermath Perps BTCUSD	+0.0394%	1h	86,230.1	−0.013%	$82K	$252K	20x	as long as short
Perpl BTC	+0.0447%	43m	86,257.4	+0.019%	$496K	$16.5M	6.7x	as long as short