Funding you earn now, next payment 23:00 UTC+0.0125%/8h= +13.7% APRpaid last 24h +0.010%
Price spread now: Aster against Phoenix−0.034%95s7-day average −0.053% · you buy dearer than you sell
Net, funding: paid 7d − costs−$11as 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−$160.157% of the position
Funding, last 7 days+0.044%+$4 on $10k
+Price spread, last 7 days−0.046%−$5 · spread now −0.034%, 7d avg −0.053%
=Together, before fees−0.002%+ Points / potential airdropAster: Stage 5 · farm board$0 on $10k · with fees, hour by hour
The price spread sits at its 7-day average of −0.053%, so right now this pair is about funding alone: +$4 a day on $10k at the current rate. The two prices were read 95 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 | Phoenix BTC | 86,476 | −0.0118 | get 0.0015% / 1h | 11m 49s | $2.2M | $11.8M | 40x |
| Short | Aster BTCUSDT | 86,446.7 | 0.0007 | get 0.0007% / 8h | 11m 49s | $501.4M | $1.15B | 200x |
Phoenix BTC
Aster BTCUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Aster against Phoenix. 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
- $26.3
- Price spread: −0.034% → −0.053%
- $1.87
- Slippage, 4 orders
- −$0.69
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee Aster: 4 bp × 2 orders
- −$8
- Net
- $12.48
- Costs to cover
- 0.157%
- Break-even
- 3.7 days
Slippage from Phoenix: live order book, 7 min ago; Aster: 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 Phoenix live order book, 7 min ago | 0.06 bp | 3.7 bp −$4 | 5.5 bp −$55 | 11.1 bp −$1,111 | doesn't fit |
| Sell Aster live order book, 2 min ago | 0.01 bp | 4.0 bp −$4 | 4.0 bp −$40 | 5.1 bp −$515 | 8.4 bp −$4,211 |
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 BTClong | −0.0118% | 1h | 86,476 | long leg | $2.2M | $11.8M | 40x | |
| Hotstuff BTC-PERP | −0.0080% | 1h | 86,421 | −0.064% | $9K | $3K | 50x | as long as short |
| Injective BTC/USDC PERP | −0.0035% | 1h | 86,345 | −0.151% | $332K | $26.9M | 52x | as long as short |
| RISEx BTC/USDC | −0.0024% | 1h | 86,468.8 | −0.008% | $8.3M | $42.7M | 25x | as long as short |
| 01 Exchange BTCUSD | −0.0016% | 1h | 86,476.2 | 0.000% | $358K | $2.4M | 50x | as long as short |
| Perpl BTC | 0.0000% | 43m | 86,447.6 | −0.033% | $414K | $22.5M | 6.7x | as long as short |
| gTrade (Gains Network) BTC/USD | L +0.0005% / S −0.0004% | 1h | 86,471.8 | −0.005% | $36.8M | — | 200x | as long as short |
| Aster BTCUSDTshort | +0.0007% | 8h | 86,446.7 | −0.034% | $501.4M | $1.15B | 200x | |
| KuCoin XBTUSDTM | +0.0020% | 8h | 86,446.8 | −0.034% | $833.8M | $728.5M | 125x | as long as short |
| Reya BTCRUSDPERP | +0.0035% | 1h | 86,456.3 | −0.023% | $6.7M | $145.5M | 40x | as long as short |
Hotstuff BTC-PERP
Injective BTC/USDC PERP
RISEx BTC/USDC
01 Exchange BTCUSD
Perpl BTC
gTrade (Gains Network) BTC/USD
KuCoin XBTUSDTM
Reya BTCRUSDPERPShow all 56 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| BingX BTC-USDC | +0.0042% | 8h | 86,422.2 | −0.062% | — | $15.4M | — | as long as short |
| Phemex BTCUSDT | +0.0054% | 8h | 86,461.6 | −0.017% | $150.6M | $478.2M | 150x | as long as short |
| Bitget BTCUSDT | +0.0055% | 8h | 86,420.3 | −0.064% | $2.96B | $5.13B | 150x | as long as short |
| dYdX BTC-USD | +0.0064% | 1h | 86,456.7 | −0.022% | $16.9M | $21.1M | 50x | as long as short |
| MEXC BTC_USDT | +0.0072% | 8h | 86,434.1 | −0.048% | $5.16B | $5.68B | 500x | as long as short |
| Aevo BTC-PERP | +0.0072% | 1h | 86,434.5 | −0.048% | $2.4M | $1.3M | 20x | as long as short |
| Binance BTCUSDT | +0.0073% | 8h | 86,432.7 | −0.050% | $9.43B | $24.55B | 150x | as long as short |
| Gate BTC_USDT | +0.0082% | 8h | 86,439.2 | −0.043% | $5.85B | $10.80B | 200x | as long as short |
| Lighter BTC | +0.0096% | 1h | 86,457.3 | −0.022% | $170.1M | $1.02B | 50x | as long as short |
| Lighter RH BTC | +0.0096% | 1h | 86,464.7 | −0.013% | $23.9M | $152.7M | 50x | as long as short |
| Popdex BTCUSDT | +0.0096% | 1h | 86,453 | −0.027% | $8.5M | $52.4M | 100x | as long as short |
| Bybit BTCUSDT | +0.0099% | 8h | 86,437.3 | −0.045% | $5.26B | $9.79B | 150x | as long as short |
| Katana Perps BTC-USD | +0.0100% | 8h | 86,440 | −0.042% | $196K | $7.1M | 50x | as long as short |
| Paradex BTC-USD-PERP | +0.0100% | 8h | 86,501.7 | +0.030% | $4.8M | $8.5M | 50x | as long as short |
| Nado BTC-PERP | +0.0100% | 1h | 86,462.9 | −0.015% | $21.7M | $234.1M | 50x | as long as short |
| Hyperliquid BTC | +0.0100% | 1h | 86,518 | +0.049% | $3.79B | $5.11B | 40x | as long as short |
| Pacifica BTC | +0.0100% | 1h | 86,493 | +0.020% | $41.1M | $535.5M | 50x | as long as short |
| OKX BTC-USDT-SWAP | +0.0100% | 8h | 86,433.5 | −0.049% | $2.55B | $12.73B | 100x | as long as short |
| Ondo Perps BTC-USD.P | +0.0100% | 1h | 86,462 | −0.016% | $3.9M | $18.4M | 25x | as long as short |
| Arcus BTC-USD | +0.0100% | 1h | 86,496.5 | +0.024% | $7.3M | $95.9M | 40x | as long as short |
| Bulk BTC-USD | +0.0100% | 1h | 86,449 | −0.031% | $572.1M | $12.5M | 40x | as long as short |
| Backpack BTC_USDC_PERP | +0.0100% | 1h | 86,443 | −0.038% | $38.0M | $157.2M | 75x | as long as short |
| Variational Omni BTC | +0.0100% | 8h | 86,485.4 | +0.011% | $157.1M | $568.4M | — | as long as short |
| edgeX BTCUSDC | +0.0100% | 4h | 86,457.2 | −0.022% | $279.3M | $947.8M | 100x | as long as short |
| GRVT BTC_USDT_Perp | +0.0100% | 8h | 86,437.7 | −0.044% | $216.9M | $172.3M | 50x | as long as short |
| ApeX Omni BTCUSDT | +0.0100% | 1h | 86,457.6 | −0.021% | $141.4M | $323.0M | 100x | as long as short |
| StandX BTC-USD | +0.0100% | 1h | 86,450.5 | −0.030% | $30.7M | $206.1M | 40x | as long as short |
| Vest BTC-PERP | +0.0100% | 1h | 86,501.5 | +0.029% | — | $11.9M | 50x | as long as short |
| Polymarket Perps BTC-USD | +0.0100% | 1h | 86,459 | −0.020% | $11.1M | $13.9M | 50x | as long as short |
| Bullet BTC-USD | +0.0100% | 1h | 86,458.5 | −0.020% | $191K | $3.3M | 20x | as long as short |
| Orderly PERP_BTC_USDC | +0.0100% | 8h | 86,447.4 | −0.033% | $2.5M | $9.4M | 100x | as long as short |
| Bluefin BTC-PERP | +0.0100% | 1h | 86,477.4 | +0.002% | $140K | $663K | 40x | as long as short |
| Derive BTC-PERP | +0.0100% | 1h | 86,476.9 | +0.001% | $30.5M | $62.6M | 15x | as long as short |
| SunX BTC-USDT | +0.0100% | 8h | 86,429.9 | −0.053% | $3.4M | $5.3M | 100x | as long as short |
| SoDEX BTC-USD | +0.0100% | 1h | 86,442 | −0.039% | $60.5M | $338.0M | 40x | as long as short |
| HTX BTC-USDT | +0.0100% | 8h | 86,437.9 | −0.044% | $2.29B | $968.2M | 200x | as long as short |
| Extended BTC-USD | +0.0104% | 1h | 86,426.7 | −0.057% | $45.7M | $227.5M | 50x | as long as short |
| Jupiter Perps WBTC-PERP | L +0.0104% / S +0.0048% | 1h | 86,453.1 | −0.026% | — | $100.0M | 500x | as long as short |
| Kraken Futures PF_XBTUSD | +0.0110% | 1h | 86,471.2 | −0.006% | $192.9M | $953.2M | 100x | as long as short |
| Coinbase International BTC-PERP-INTX | +0.0112% | 1h | 86,486.9 | +0.013% | $132.3M | $5.64B | 50x | as long as short |
| Aftermath Perps BTCUSD | +0.0157% | 1h | 86,474.7 | −0.001% | $78K | $219K | 20x | as long as short |
| Hibachi BTC/USDT-P | +0.0184% | 1h | 86,469.7 | −0.007% | $717K | $8.1M | 30x | as long as short |
| BloFin BTC-USDT | +0.0193% | 8h | 86,431.3 | −0.052% | $414.9M | $658.6M | 150x | as long as short |
| GMX BTC/USD [WBTC.b-USDC] | L +0.0199% / S −0.0223% | 1h | 86,470.3 | −0.007% | $15.0M | — | 200x | as long as short |
| Kalshi KXBTCPERP | +0.0206% | 8h | 86,478 | +0.002% | $10.0M | $750.5M | 6.4x | as long as short |
| Deribit BTC-PERPETUAL | +0.0211% | 1h | 86,489.3 | +0.015% | $911.5M | $1.48B | 50x | as long as short |
BingX BTC-USDC
Phemex BTCUSDT
Bitget BTCUSDT
dYdX BTC-USD
MEXC BTC_USDT
Aevo BTC-PERP
Binance BTCUSDT
Gate BTC_USDT
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
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
SoDEX BTC-USD
HTX BTC-USDT
Extended BTC-USD
Jupiter Perps WBTC-PERP
Kraken Futures PF_XBTUSD
Coinbase International BTC-PERP-INTX
Aftermath Perps BTCUSD
Hibachi BTC/USDT-P
BloFin BTC-USDT
GMX BTC/USD [WBTC.b-USDC]
Kalshi KXBTCPERP
Deribit BTC-PERPETUAL