Settings8H · net · $10k
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Funding arb · Price arb /

BTC

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Alert: funding
Measured
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Checked every minute; it has to hold two checks in a row. Delivery to Telegram comes later, so for now alerts appear on the alerts page.

Alert: spread
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Checked every minute; it has to hold two checks in a row. Delivery to Telegram comes later, so for now alerts appear on the alerts page.

Funding you earn now, next payment 21:00 UTC+0.0020%/8h= +2.2% APRnext payment +$0.03 per $10,000 · paid last 24h +0.008%
Price spread now: Coinbase International against Polymarket Perps+0.033%7-day average +0.040% · you sell dearer than you buy
Net, funding: paid 7d − costs−$24as in the Funding arb table
Net, price: spread back to 7d avg − costs−$19as in the Price arb table
costs, in and out, $10k−$180.183% of the position
Long on Polymarket PerpsShort on Coinbase International
What this pair did over the last
the charts below follow
Funding, last 7 days−0.053%−$5 on $10k
Price spread, last 3 days (all we have)−0.029%−$3 · spread now +0.033%, 7d avg +0.040%
Together, before fees−0.082%−$8 on $10k · with fees, hour by hour
The price spread sits at its 7-day average of +0.040%, so right now this pair is about funding alone: +$1 a day on $10k at the current rate. Mind the row above: over the last 7 days funding on this pair cost −0.053%, so the current rate has only just turned in your favour.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongPolymarket Perps BTC-USD86,5620.0100pay 0.0013% / 1h43m 44s$11.0M$13.7M50x
ShortCoinbase International BTC-PERP-INTX86,590.50.0120get 0.0015% / 1h43m 44s$131.7M$5.87B50x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Coinbase International against Polymarket 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

Funding earned
$4.2
Price spread: +0.033% → +0.040%
−$0.75
Slippage, 4 orders
−$0.29
Fee Polymarket Perps: 4 bp × 2 orders
−$8
Fee Coinbase International: 5 bp × 2 orders
−$10
Net
−$14.84
Costs to cover
0.183%
Break-even
31.7 days
Slippage from Polymarket Perps: live order book, 5 min ago; Coinbase International: live order book, 5 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy Polymarket Perps live order book, 5 min ago0.06 bp4.1 bp −$44.6 bp −$467.5 bp −$749doesn't fit
Sell Coinbase International live order book, 5 min ago0.01 bp5.0 bp −$55.0 bp −$505.6 bp −$56211.4 bp −$5,720

BTC on 56 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Perpl BTC−0.0335%43m86,584.3+0.026%$431K$25.1M6.7xas long as short
Aftermath Perps BTCUSD−0.0215%1h86,631.2+0.080%$85K$188K20xas long as short
dYdX BTC-USD−0.0108%1h86,607.2+0.052%$17.7M$20.3M50xas long as short
Phoenix BTC−0.0103%1h86,591+0.034%$2.2M$12.4M40xas long as short
Hotstuff BTC-PERP−0.0080%1h86,559−0.003%$9K$3K50xas long as short
KuCoin XBTUSDTM−0.0002%8h86,583.2+0.024%$845.4M$707.9M125xas long as short
01 Exchange BTCUSD0.0000%1h86,593.4+0.036%$361K$2.4M50xas long as short
Deribit BTC-PERPETUAL0.0000%1h86,576.3+0.016%$937.8M$1.43B50xas long as short
gTrade (Gains Network) BTC/USDL +0.0005% / S −0.0005%1h86,579.7+0.020%$36.6M—200xas long as short
Aster BTCUSDT+0.0009%8h86,578.8+0.019%$505.4M$1.16B200xas long as short
Show all 56 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Reya BTCRUSDPERP+0.0021%1h86,549.4−0.015%$6.7M$144.0M40xas long as short
BingX BTC-USDT+0.0021%8h86,607+0.052%—$1.60B—as long as short
Bitget BTCUSDT+0.0027%8h86,586+0.028%$2.94B$5.07B150xas long as short
Phemex BTCUSDT+0.0027%8h86,571.9+0.011%$149.4M$470.6M150xas long as short
MEXC BTC_USDT+0.0048%8h86,593.8+0.037%$5.19B$5.65B500xas long as short
Aevo BTC-PERP+0.0048%1h86,538.9−0.027%$2.4M$1.3M20xas long as short
Binance BTCUSDT+0.0049%8h86,596+0.039%$9.43B$24.29B150xas long as short
Injective BTC/USDC PERP+0.0049%1h86,732+0.196%$315K$26.8M52xas long as short
RISEx BTC/USDC+0.0063%1h86,577.9+0.018%$9.2M$42.1M25xas long as short
OKX BTC-USDT-SWAP+0.0063%8h86,594.2+0.037%$2.57B$12.69B100xas long as short
Gate BTC_USDT+0.0066%8h86,610+0.055%$5.85B$10.59B200xas long as short
Bybit BTCUSDT+0.0078%8h86,586.5+0.028%$5.27B$9.66B150xas long as short
Variational Omni BTC+0.0089%8h86,618.2+0.065%$160.7M$567.1M—as long as short
Lighter BTC+0.0096%1h86,602.2+0.046%$172.2M$1.01B50xas long as short
Lighter RH BTC+0.0096%1h86,606.2+0.051%$24.0M$153.0M50xas long as short
Popdex BTCUSDT+0.0096%1h86,559−0.003%$8.5M$52.0M100xas long as short
GRVT BTC_USDT_Perp+0.0098%8h86,607.9+0.053%$217.4M$189.0M50xas long as short
Paradex BTC-USD-PERP+0.0100%8h86,637.4+0.087%$4.8M$8.2M50xas long as short
Katana Perps BTC-USD+0.0100%8h86,558−0.005%$199K$6.8M50xas long as short
SoDEX BTC-USD+0.0100%1h86,540−0.025%$60.4M$336.5M40xas long as short
Orderly PERP_BTC_USDC+0.0100%8h86,553.3−0.010%$2.5M$8.5M100xas long as short
Nado BTC-PERP+0.0100%1h86,554.1−0.009%$21.7M$235.7M50xas long as short
Hyperliquid BTC+0.0100%1h86,682+0.139%$3.83B$5.11B40xas long as short
Pacifica BTC+0.0100%1h86,625.7+0.074%$40.9M$485.8M50xas long as short
Ondo Perps BTC-USD.P+0.0100%1h86,598+0.042%$3.9M$18.6M25xas long as short
Arcus BTC-USD+0.0100%1h86,662.6+0.116%$7.4M$93.7M40xas long as short
Bulk BTC-USD+0.0100%1h86,665+0.119%$572.2M$23.5M40xas long as short
Backpack BTC_USDC_PERP+0.0100%1h86,564.7+0.003%$38.1M$148.2M75xas long as short
edgeX BTCUSDC+0.0100%4h86,605.1+0.050%$279.8M$948.5M100xas long as short
ApeX Omni BTCUSDT+0.0100%1h86,599.3+0.043%$141.5M$322.7M100xas long as short
StandX BTC-USD+0.0100%1h86,606.9+0.052%$30.8M$205.8M40xas long as short
Vest BTC-PERP+0.0100%1h86,627.5+0.076%—$11.6M50xas long as short
Polymarket Perps BTC-USDlong+0.0100%1h86,562long leg$11.0M$13.7M50x
Bullet BTC-USD+0.0100%1h86,558.5−0.004%$197K$3.4M20xas long as short
Bluefin BTC-PERP+0.0100%1h86,562.10.000%$140K$619K40xas long as short
Derive BTC-PERP+0.0100%1h86,548.6−0.016%$30.0M$61.5M15xas long as short
SunX BTC-USDT+0.0100%8h86,558.3−0.004%$3.4M$5.6M100xas long as short
HTX BTC-USDT+0.0100%8h86,547.6−0.017%$2.30B$956.7M200xas long as short
Extended BTC-USD+0.0104%1h86,596.3+0.040%$46.5M$229.1M50xas long as short
Jupiter Perps WBTC-PERPL +0.0104% / S +0.0048%1h86,585.5+0.027%—$98.0M500xas long as short
Kalshi KXBTCPERP+0.0115%8h86,588+0.030%$8.9M$723.3M6.4xas long as short
Kraken Futures PF_XBTUSD+0.0117%1h86,578.5+0.019%$190.6M$928.5M100xas long as short
Coinbase International BTC-PERP-INTXshort+0.0120%1h86,590.5+0.033%$131.7M$5.87B50x
BloFin BTC-USDT+0.0169%8h86,567.5+0.006%$418.5M$641.8M150xas long as short
GMX BTC/USD [WBTC.b-USDC]L +0.0178% / S −0.0181%1h86,576.1+0.016%$14.7M—200xas long as short
Hibachi BTC/USDT-P+0.0216%1h86,604.1+0.049%$600K$7.2M30xas long as short