BTC

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0644%/8h= −70.5% APRnext payment −$0.81 per $10,000 · paid last 24h −0.169%

Price spread now: Bluefin against RISEx+0.039%7-day average −0.039% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$12as in the Price arb table

costs, in and out, $10k−$190.194% of the position

Long on RISEx Short on Bluefin

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.422%−$42 on $10k

Price spread, last 3 days (all we have)−0.070%−$7 · spread now +0.039%, 7d avg −0.039%

Together, before fees−0.491%−$49 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Bluefin is 0.079% dearer against RISEx than usual: you sell high and buy low (spread +0.039% now, against its 7-day average of −0.039%): +$8 on $10k if it goes back. Holding the pair costs −$19 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	RISEx BTC/USDC	86,364.7	0.0052	pay 0.0007% / 1h	33m 57s	$8.3M	$42.5M	25x
Short	Bluefin BTC-PERP	86,398.7	−0.0592	pay 0.0074% / 1h	33m 57s	$144K	$666K	40x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bluefin against RISEx. 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 RISExbpFee BluefinbpOrdersPrice spread, now +0.039%Rate

Funding earned: −$135.29
Price spread: +0.039% → −0.039%: $7.85
Slippage, 4 orders: −$6.37
Fee RISEx: 3 bp × 2 orders: −$6
Fee Bluefin: 3.5 bp × 2 orders: −$7
Net: −$146.81
Costs to cover: 0.194%
Break-even: never at this rate

Slippage from RISEx: live order book, 5 min ago; Bluefin: live order book, 40 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 RISEx live order book, 5 min ago	0.01 bp	3.0 bp −$3	3.0 bp −$30	10.5 bp −$1,049	doesn't fit
Sell Bluefin live order book, 40 min ago	1.72 bp	5.7 bp −$6	10.5 bp −$105	doesn't fit	doesn't fit

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-PERPshort	−0.0592%	1h	86,398.7	+0.039%	$144K	$666K	40x
Phoenix BTC	−0.0129%	1h	86,435	+0.081%	$2.2M	$11.2M	40x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	86,372	+0.008%	$9K	$3K	50x	as long as short
01 Exchange BTCUSD	−0.0032%	1h	86,366.3	+0.002%	$361K	$2.4M	50x	as long as short
Perpl BTC	0.0000%	43m	86,349.8	−0.017%	$497K	$21.6M	6.7x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0005% / S −0.0004%	1h	86,378.8	+0.016%	$36.9M	—	200x	as long as short
Aster BTCUSDT	+0.0020%	8h	86,347.2	−0.020%	$500.8M	$1.14B	200x	as long as short
Injective BTC/USDC PERP	+0.0023%	1h	86,430	+0.076%	$333K	$26.9M	52x	as long as short
dYdX BTC-USD	+0.0025%	1h	86,393.1	+0.033%	$16.9M	$20.5M	50x	as long as short
KuCoin XBTUSDTM	+0.0039%	8h	86,353.6	−0.013%	$830.1M	$721.5M	125x	as long as short

Show all 56 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Reya BTCRUSDPERP	+0.0044%	1h	86,359.1	−0.006%	$6.7M	$145.7M	40x	as long as short
BingX BTC-USDT	+0.0050%	8h	86,366.2	+0.002%	—	$1.58B	—	as long as short
RISEx BTC/USDClong	+0.0052%	1h	86,364.7	long leg	$8.3M	$42.5M	25x
Bitget BTCUSDT	+0.0062%	8h	86,342	−0.026%	$2.97B	$5.04B	150x	as long as short
Phemex BTCUSDT	+0.0068%	8h	86,368.5	+0.004%	$153.9M	$473.9M	150x	as long as short
MEXC BTC_USDT	+0.0077%	8h	86,345	−0.023%	$5.12B	$5.69B	500x	as long as short
Binance BTCUSDT	+0.0077%	8h	86,363.7	−0.001%	$9.40B	$24.30B	150x	as long as short
Aevo BTC-PERP	+0.0080%	1h	86,352.1	−0.015%	$2.5M	$1.7M	20x	as long as short
HTX BTC-USDT	+0.0081%	8h	86,345.2	−0.023%	$2.29B	$964.6M	200x	as long as short
Lighter BTC	+0.0096%	1h	86,384.4	+0.023%	$170.4M	$985.0M	50x	as long as short
Lighter RH BTC	+0.0096%	1h	86,384.8	+0.023%	$23.7M	$149.1M	50x	as long as short
Popdex BTCUSDT	+0.0096%	1h	86,360	−0.005%	$8.4M	$52.0M	100x	as long as short
SoDEX BTC-USD	+0.0098%	1h	86,368	+0.004%	$60.4M	$338.2M	40x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	86,335	−0.034%	$202K	$7.2M	50x	as long as short
Paradex BTC-USD-PERP	+0.0100%	8h	86,374.8	+0.012%	$4.3M	$8.6M	50x	as long as short
Nado BTC-PERP	+0.0100%	1h	86,343.7	−0.024%	$22.0M	$228.8M	50x	as long as short
Hyperliquid BTC	+0.0100%	1h	86,420	+0.064%	$3.79B	$5.00B	40x	as long as short
Pacifica BTC	+0.0100%	1h	86,384.2	+0.023%	$40.7M	$551.7M	50x	as long as short
Bybit BTCUSDT	+0.0100%	8h	86,376.3	+0.013%	$5.25B	$9.67B	150x	as long as short
OKX BTC-USDT-SWAP	+0.0100%	8h	86,377.9	+0.015%	$2.56B	$12.50B	100x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	86,362	−0.003%	$3.9M	$17.9M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	86,386.1	+0.025%	$7.2M	$95.0M	40x	as long as short
Bulk BTC-USD	+0.0100%	1h	86,348	−0.019%	$573.1M	$19.8M	40x	as long as short
Gate BTC_USDT	+0.0100%	8h	86,350.2	−0.017%	$5.81B	$10.53B	200x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	86,368	+0.004%	$37.6M	$156.4M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	86,400.1	+0.041%	$158.2M	$561.5M	—	as long as short
edgeX BTCUSDC	+0.0100%	4h	86,397.1	+0.037%	$279.1M	$950.2M	100x	as long as short
GRVT BTC_USDT_Perp	+0.0100%	8h	86,397.9	+0.038%	$217.0M	$165.4M	50x	as long as short
ApeX Omni BTCUSDT	+0.0100%	1h	86,397.4	+0.038%	$141.7M	$321.3M	100x	as long as short
StandX BTC-USD	+0.0100%	1h	86,338	−0.031%	$30.6M	$209.1M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	86,400.2	+0.041%	—	$11.8M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	86,360	−0.005%	$11.1M	$14.1M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	86,360.7	−0.005%	$193K	$3.3M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	86,365.6	+0.001%	$2.4M	$8.9M	100x	as long as short
Derive BTC-PERP	+0.0100%	1h	86,397.6	+0.038%	$30.5M	$58.9M	15x	as long as short
SunX BTC-USDT	+0.0100%	8h	86,355	−0.011%	$3.4M	$5.2M	100x	as long as short
Extended BTC-USD	+0.0104%	1h	86,333.4	−0.036%	$45.9M	$222.2M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0048%	1h	86,375.6	+0.013%	—	$98.7M	500x	as long as short
Deribit BTC-PERPETUAL	+0.0104%	1h	86,413.3	+0.056%	$903.1M	$1.51B	50x	as long as short
Coinbase International BTC-PERP-INTX	+0.0120%	1h	86,413.3	+0.056%	$132.1M	$5.42B	50x	as long as short
Kraken Futures PF_XBTUSD	+0.0121%	1h	86,402.9	+0.044%	$192.2M	$941.5M	100x	as long as short
Hibachi BTC/USDT-P	+0.0160%	1h	86,449.8	+0.099%	$711K	$8.0M	30x	as long as short
Aftermath Perps BTCUSD	+0.0165%	1h	86,403.2	+0.045%	$77K	$217K	20x	as long as short
BloFin BTC-USDT	+0.0198%	8h	86,325.6	−0.045%	$415.6M	$646.3M	150x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0204% / S −0.0218%	1h	86,374.6	+0.011%	$14.5M	—	200x	as long as short
Kalshi KXBTCPERP	+0.0210%	8h	86,387	+0.026%	$10.0M	$762.2M	6.4x	as long as short