Funding you earn now, next payment 03:48 UTC−0.0314%/8h= −34.4% APRpaid last 24h +0.028%
Price spread now: Arcus against Perpl−0.007%7-day average +0.017% · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 4 days (all we have)−0.079%−$8 on $10k
+Price spread, last 7 days−0.094%−$9 · spread now −0.007%, 7d avg +0.017%
=Together, before fees−0.173%+ Points / potential airdropPerpl: Active · farm board−$17 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$9 a day on $10k at the current rate, and Arcus is 0.023% cheaper against Perpl than usual: you would sell low and buy high (−$2 if the spread goes back to its 7-day average of +0.017%). Swap the legs.
The current funding rate is far above what this pair has been paying: over the last 4 days it paid -0.079% in total (about -8.0% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Perpl BTC | 85,493.6 | 0.0335 | pay 0.0030% / 43m | 17m 57s | $496K | $18.7M | 6.7x |
| Short | Arcus BTC-USD | 85,487.8 | 0.0021 | get 0.0003% / 1h | 3m 57s | $4.2M | $98.3M | 40x |
Perpl BTC
Arcus BTC-USDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Arcus against Perpl. 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
- −$65.95
- Price spread: −0.007% → +0.017%
- −$2.35
- Slippage, 4 orders
- no order book: not counted
- Fee Perpl: 6.9 bp × 2 orders
- −$13.8
- Fee Arcus: 2.25 bp × 2 orders
- −$4.5
- Net
- −$86.6
- Costs to cover
- 0.183%
- Break-even
- never at this rate
Slippage unknown: Perpl: no order-book sample; Arcus: live order book, 5 min ago. 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 Perpl no order-book sample | — | — | — | — | — |
| Sell Arcus live order book, 5 min ago | 0.01 bp | 2.3 bp −$2 | 2.4 bp −$24 | 3.1 bp −$308 | doesn't fit |
Perpl: 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 | |
|---|---|---|---|---|---|---|---|---|
| Phoenix BTC | −0.0179% | 1h | 85,531 | +0.044% | $2.1M | $10.3M | 40x | as long as short |
| Hotstuff BTC-PERP | −0.0080% | 1h | 85,493 | −0.001% | $8K | $3K | 50x | as long as short |
| 01 Exchange BTCUSD | −0.0048% | 1h | 85,499.5 | +0.007% | $365K | $2.3M | 50x | as long as short |
| KuCoin XBTUSDTM | −0.0033% | 8h | 85,498.2 | +0.005% | $920.0M | $751.9M | 125x | as long as short |
| BloFin BTC-USDT | −0.0020% | 8h | 85,474.9 | −0.022% | $417.1M | $668.9M | 150x | as long as short |
| gTrade (Gains Network) BTC/USD | L +0.0005% / S −0.0004% | 1h | 85,515.8 | +0.026% | $36.5M | — | 200x | as long as short |
| dYdX BTC-USD | +0.0010% | 1h | 85,472.1 | −0.025% | $16.7M | $21.2M | 50x | as long as short |
| Aster BTCUSDT | +0.0011% | 8h | 85,515.2 | +0.025% | $515.5M | $1.10B | 200x | as long as short |
| Nado BTC-PERP | +0.0012% | 1h | 85,479.7 | −0.016% | $25.0M | $222.0M | 50x | as long as short |
| Arcus BTC-USDshort | +0.0021% | 1h | 85,487.8 | −0.007% | $4.2M | $98.3M | 40x |
Phoenix BTC
Hotstuff BTC-PERP
01 Exchange BTCUSD
KuCoin XBTUSDTM
BloFin BTC-USDT
gTrade (Gains Network) BTC/USD
dYdX BTC-USD
Aster BTCUSDT
Nado BTC-PERPShow all 56 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Bluefin BTC-PERP | +0.0021% | 1h | 85,551.8 | +0.068% | $207K | $739K | 40x | as long as short |
| BingX BTC-USDT | +0.0063% | 8h | 85,529.9 | +0.042% | — | $1.54B | — | as long as short |
| Phemex BTCUSDT | +0.0074% | 8h | 85,516.3 | +0.027% | $148.4M | $489.2M | 150x | as long as short |
| Bitget BTCUSDT | +0.0079% | 8h | 85,523.8 | +0.035% | $2.95B | $5.08B | 150x | as long as short |
| Reya BTCRUSDPERP | +0.0087% | 1h | 85,500.9 | +0.009% | $6.6M | $146.8M | 40x | as long as short |
| Deribit BTC-PERPETUAL | +0.0088% | 1h | 85,557.6 | +0.075% | $887.7M | $1.59B | 50x | as long as short |
| Lighter BTC | +0.0096% | 1h | 85,533.8 | +0.047% | $172.2M | $1.02B | 50x | as long as short |
| Lighter RH BTC | +0.0096% | 1h | 85,534 | +0.047% | $23.9M | $149.5M | 50x | as long as short |
| Popdex BTCUSDT | +0.0096% | 1h | 85,500 | +0.007% | $8.4M | $53.5M | 100x | as long as short |
| Aevo BTC-PERP | +0.0096% | 1h | 85,498.6 | +0.006% | $2.4M | $1.7M | 20x | as long as short |
| Katana Perps BTC-USD | +0.0100% | 8h | 85,465 | −0.033% | $210K | $8.1M | 50x | as long as short |
| Paradex BTC-USD-PERP | +0.0100% | 8h | 85,541.1 | +0.056% | $5.2M | $9.1M | 50x | as long as short |
| Hyperliquid BTC | +0.0100% | 1h | 85,603 | +0.128% | $3.75B | $4.99B | 40x | as long as short |
| Pacifica BTC | +0.0100% | 1h | 85,511 | +0.020% | $40.2M | $581.6M | 50x | as long as short |
| Binance BTCUSDT | +0.0100% | 8h | 85,536.7 | +0.050% | $9.37B | $24.17B | 150x | as long as short |
| Bybit BTCUSDT | +0.0100% | 8h | 85,536.4 | +0.050% | $5.20B | $9.80B | 150x | as long as short |
| OKX BTC-USDT-SWAP | +0.0100% | 8h | 85,536 | +0.050% | $2.58B | $12.14B | 100x | as long as short |
| Ondo Perps BTC-USD.P | +0.0100% | 1h | 85,484 | −0.011% | $3.8M | $17.8M | 25x | as long as short |
| Bulk BTC-USD | +0.0100% | 1h | 85,487.5 | −0.007% | $672.1M | $698.9M | 40x | as long as short |
| Gate BTC_USDT | +0.0100% | 8h | 85,529.1 | +0.041% | $5.52B | $10.77B | 200x | as long as short |
| MEXC BTC_USDT | +0.0100% | 8h | 85,529.9 | +0.042% | $5.07B | $5.66B | 500x | as long as short |
| Backpack BTC_USDC_PERP | +0.0100% | 1h | 85,496.6 | +0.004% | $35.1M | $177.1M | 75x | as long as short |
| Variational Omni BTC | +0.0100% | 8h | 85,444.6 | −0.057% | $153.4M | $564.2M | — | as long as short |
| edgeX BTCUSDC | +0.0100% | 4h | 85,474.1 | −0.023% | $279.2M | $922.0M | 100x | as long as short |
| GRVT BTC_USDT_Perp | +0.0100% | 8h | 85,487.4 | −0.007% | $214.6M | $167.9M | 50x | as long as short |
| ApeX Omni BTCUSDT | +0.0100% | 1h | 85,488.3 | −0.006% | $139.8M | $314.8M | 100x | as long as short |
| StandX BTC-USD | +0.0100% | 1h | 85,473 | −0.024% | $30.2M | $208.7M | 40x | as long as short |
| Vest BTC-PERP | +0.0100% | 1h | 85,549.3 | +0.065% | — | $11.8M | 50x | as long as short |
| Polymarket Perps BTC-USD | +0.0100% | 1h | 85,496 | +0.003% | $11.1M | $14.3M | 50x | as long as short |
| Bullet BTC-USD | +0.0100% | 1h | 85,505.5 | +0.014% | $193K | $3.3M | 20x | as long as short |
| Orderly PERP_BTC_USDC | +0.0100% | 8h | 85,506 | +0.015% | $2.4M | $8.8M | 100x | as long as short |
| Derive BTC-PERP | +0.0100% | 1h | 85,496.7 | +0.004% | $30.0M | $50.0M | 15x | as long as short |
| SunX BTC-USDT | +0.0100% | 8h | 85,460.6 | −0.039% | $2.9M | $6.1M | 100x | as long as short |
| SoDEX BTC-USD | +0.0100% | 1h | 85,518 | +0.029% | $59.9M | $336.1M | 40x | as long as short |
| HTX BTC-USDT | +0.0100% | 8h | 85,510.3 | +0.020% | $2.26B | $942.7M | 200x | as long as short |
| Extended BTC-USD | +0.0104% | 1h | 85,501.8 | +0.010% | $44.6M | $230.9M | 50x | as long as short |
| Jupiter Perps WBTC-PERP | L +0.0104% / S +0.0048% | 1h | 85,488.9 | −0.006% | — | $107.5M | 500x | as long as short |
| Coinbase International BTC-PERP-INTX | +0.0104% | 1h | 85,561.9 | +0.080% | $117.6M | $5.19B | 50x | as long as short |
| Injective BTC/USDC PERP | +0.0150% | 1h | 85,556 | +0.073% | $340K | $26.9M | 52x | as long as short |
| Kraken Futures PF_XBTUSD | +0.0170% | 1h | 85,545.8 | +0.061% | $187.5M | $953.7M | 100x | as long as short |
| GMX BTC/USD [WBTC.b-USDC] | L +0.0176% / S −0.0151% | 1h | 85,514.4 | +0.024% | $13.3M | — | 200x | as long as short |
| RISEx BTC/USDC | +0.0194% | 1h | 85,517.5 | +0.028% | $8.4M | $42.7M | 25x | as long as short |
| Aftermath Perps BTCUSD | +0.0216% | 1h | 85,500.8 | +0.008% | $78K | $220K | 20x | as long as short |
| Kalshi KXBTCPERP | +0.0219% | 8h | 85,515 | +0.025% | $10.3M | $755.2M | 6.4x | as long as short |
| Hibachi BTC/USDT-P | +0.0248% | 1h | 85,503.6 | +0.012% | $701K | $7.9M | 30x | as long as short |
| Perpl BTClong | +0.0335% | 43m | 85,493.6 | long leg | $496K | $18.7M | 6.7x |
Bluefin BTC-PERP
BingX BTC-USDT
Phemex BTCUSDT
Bitget BTCUSDT
Reya BTCRUSDPERP
Deribit BTC-PERPETUAL
Lighter BTC
Lighter RH BTC
Popdex BTCUSDT
Aevo BTC-PERP
Katana Perps BTC-USD
Paradex BTC-USD-PERP
Hyperliquid BTC
Pacifica BTC
Binance BTCUSDT
Bybit BTCUSDT
OKX BTC-USDT-SWAP
Ondo Perps BTC-USD.P
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
Derive BTC-PERP
SunX BTC-USDT
SoDEX BTC-USD
HTX BTC-USDT
Extended BTC-USD
Jupiter Perps WBTC-PERP
Coinbase International BTC-PERP-INTX
Injective BTC/USDC PERP
Kraken Futures PF_XBTUSD
GMX BTC/USD [WBTC.b-USDC]
RISEx BTC/USDC
Aftermath Perps BTCUSD
Kalshi KXBTCPERP
Hibachi BTC/USDT-P