BTC

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0157%/8h= −17.2% APRnext payment −$0.20 per $10,000 · paid last 24h −0.017%

Price spread now: Hotstuff against Reya+0.020%7-day average — · you sell dearer than you buy

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

Long on Reya Short on Hotstuff

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropReya: Active · Hotstuff: Active · farm boardneeds both histories

The price spread pays, funding is against you. Hotstuff is 0.020% dearer against Reya than usual: you sell high and buy low (spread +0.020% now, against zero (this spread has no 7-day history yet)): +$2 on $10k if it goes back. Holding the pair costs −$5 a day in funding at the current rate, which eats that in about 10 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Reya BTCRUSDPERP	85,595.6	0.0077	pay 0.0010% / 1h	51m 34s	$6.7M	$146.6M	40x
Short	Hotstuff BTC-PERP	85,613	−0.0080	pay 0.0010% / 1h	51m 34s	$8K	$3K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

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

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

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 ReyabpFee HotstuffbpOrdersPrice spread, now +0.020%Rate

Funding earned: −$32.91
Price spread: +0.020% → 0.000%: $2.04
Slippage, 4 orders: no order book: not counted
Fee Reya: 3 bp × 2 orders: −$6
Fee Hotstuff: 2.5 bp × 2 orders: −$5
Net: −$41.88
Costs to cover: 0.110%
Break-even: never at this rate

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

Reya and Hotstuff: 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
Bluefin BTC-PERP	−0.2290%	1h	85,643.2	+0.056%	$194K	$725K	40x	as long as short
Phoenix BTC	−0.0179%	1h	85,587	−0.010%	$2.2M	$10.3M	40x	as long as short
Hotstuff BTC-PERPshort	−0.0080%	1h	85,613	+0.020%	$8K	$3K	50x
01 Exchange BTCUSD	−0.0048%	1h	85,591.2	−0.005%	$370K	$2.3M	50x	as long as short
BloFin BTC-USDT	−0.0031%	8h	85,654.4	+0.069%	$418.0M	$665.8M	150x	as long as short
KuCoin XBTUSDTM	−0.0001%	8h	85,578.3	−0.020%	$919.3M	$749.3M	125x	as long as short
dYdX BTC-USD	0.0000%	1h	85,619.4	+0.028%	$16.7M	$21.2M	50x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0004% / S −0.0004%	1h	85,610.8	+0.018%	$36.6M	—	200x	as long as short
Aster BTCUSDT	+0.0016%	8h	85,581.5	−0.016%	$515.8M	$1.10B	200x	as long as short
Arcus BTC-USD	+0.0021%	1h	85,569.7	−0.030%	$6.9M	$97.1M	40x	as long as short

Show all 56 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado BTC-PERP	+0.0051%	1h	85,582.9	−0.015%	$22.5M	$218.8M	50x	as long as short
BingX BTC-USDT	+0.0058%	8h	85,587.4	−0.010%	—	$1.54B	—	as long as short
Bitget BTCUSDT	+0.0074%	8h	85,600.8	+0.006%	$2.96B	$5.01B	150x	as long as short
Reya BTCRUSDPERPlong	+0.0077%	1h	85,595.6	long leg	$6.7M	$146.6M	40x
SoDEX BTC-USD	+0.0083%	1h	85,594	−0.002%	$60.0M	$336.1M	40x	as long as short
Aevo BTC-PERP	+0.0088%	1h	85,595.2	0.000%	$2.5M	$1.7M	20x	as long as short
MEXC BTC_USDT	+0.0089%	8h	85,597.8	+0.003%	$5.04B	$5.58B	500x	as long as short
Binance BTCUSDT	+0.0089%	8h	85,595.5	0.000%	$9.34B	$23.96B	150x	as long as short
Lighter BTC	+0.0096%	1h	85,578.7	−0.020%	$173.9M	$1.00B	50x	as long as short
Lighter RH BTC	+0.0096%	1h	85,585	−0.012%	$23.8M	$148.1M	50x	as long as short
Popdex BTCUSDT	+0.0096%	1h	85,595	−0.001%	$8.4M	$52.6M	100x	as long as short
Paradex BTC-USD-PERP	+0.0100%	8h	85,621.5	+0.030%	$3.8M	$8.3M	50x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	85,566	−0.035%	$233K	$7.9M	50x	as long as short
Hyperliquid BTC	+0.0100%	1h	85,669.9	+0.087%	$3.74B	$4.96B	40x	as long as short
Pacifica BTC	+0.0100%	1h	85,610	+0.017%	$40.1M	$576.9M	50x	as long as short
Bybit BTCUSDT	+0.0100%	8h	85,599.4	+0.004%	$5.32B	$9.57B	150x	as long as short
OKX BTC-USDT-SWAP	+0.0100%	8h	85,601.1	+0.006%	$2.57B	$12.09B	100x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	85,572	−0.028%	$3.9M	$18.0M	25x	as long as short
Bulk BTC-USD	+0.0100%	1h	85,696.6	+0.118%	$648.3M	$574.6M	40x	as long as short
Gate BTC_USDT	+0.0100%	8h	85,587.7	−0.009%	$5.54B	$10.54B	200x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	85,585.5	−0.012%	$36.0M	$175.8M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	85,690.1	+0.110%	$156.8M	$560.5M	—	as long as short
edgeX BTCUSDC	+0.0100%	4h	85,637.5	+0.049%	$279.7M	$917.8M	100x	as long as short
GRVT BTC_USDT_Perp	+0.0100%	8h	85,650.2	+0.064%	$214.9M	$165.8M	50x	as long as short
ApeX Omni BTCUSDT	+0.0100%	1h	85,649.2	+0.063%	$140.0M	$314.9M	100x	as long as short
StandX BTC-USD	+0.0100%	1h	85,646.5	+0.060%	$30.3M	$207.7M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	85,647.3	+0.060%	—	$11.8M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	85,596	0.000%	$11.0M	$14.1M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	85,604.3	+0.010%	$194K	$3.3M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	85,594	−0.002%	$2.4M	$8.7M	100x	as long as short
Derive BTC-PERP	+0.0100%	1h	85,600.4	+0.006%	$30.0M	$51.1M	15x	as long as short
SunX BTC-USDT	+0.0100%	8h	85,588.5	−0.008%	$2.9M	$6.1M	100x	as long as short
HTX BTC-USDT	+0.0100%	8h	85,600.1	+0.005%	$2.27B	$938.0M	200x	as long as short
Phemex BTCUSDT	+0.0100%	8h	85,598	+0.003%	$150.8M	$482.6M	150x	as long as short
Extended BTC-USD	+0.0104%	1h	85,556.3	−0.046%	$44.5M	$226.2M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0056%	1h	85,658.7	+0.074%	—	$106.5M	500x	as long as short
Coinbase International BTC-PERP-INTX	+0.0104%	1h	85,647.4	+0.061%	$117.5M	$5.14B	50x	as long as short
Injective BTC/USDC PERP	+0.0150%	1h	85,724	+0.150%	$340K	$26.9M	52x	as long as short
Deribit BTC-PERPETUAL	+0.0152%	1h	85,644.2	+0.057%	$892.8M	$1.53B	50x	as long as short
Kraken Futures PF_XBTUSD	+0.0170%	1h	85,612.4	+0.020%	$189.0M	$951.7M	100x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0177% / S −0.0151%	1h	85,612.4	+0.020%	$13.4M	—	200x	as long as short
Hibachi BTC/USDT-P	+0.0184%	1h	85,684.7	+0.104%	$700K	$7.9M	30x	as long as short
RISEx BTC/USDC	+0.0194%	1h	85,618.4	+0.027%	$8.4M	$42.4M	25x	as long as short
Aftermath Perps BTCUSD	+0.0201%	1h	85,672.2	+0.090%	$78K	$219K	20x	as long as short
Kalshi KXBTCPERP	+0.0219%	8h	85,652	+0.066%	$10.7M	$758.8M	6.4x	as long as short
Perpl BTC	+0.0447%	43m	85,587.7	−0.009%	$492K	$18.9M	6.7x	as long as short