Funding you earn now, next payment 09:00 UTC−0.0176%/8h= −19.2% APRnext payment −$0.22 per $10,000 · paid last 24h +0.022%
Price spread now: Deribit against RISEx−0.020%7-day average +0.029% · you buy dearer than you sell
Net, funding: paid 7d − costs—under 7 days of funding history
Net, price: spread back to 7d avg − costs−$19as in the Price arb table
costs, in and out, $10k−$140.141% of the position
Funding, last 4 days (all we have)+0.025%+$2 on $10k
+Price spread, last 4 days (all we have)+0.048%+$5 · spread now −0.020%, 7d avg +0.029%
=Both sides work against this trade now: funding costs −$5 a day on $10k at the current rate, and Deribit is 0.049% cheaper against RISEx than usual: you would sell low and buy high (−$5 if the spread goes back to its 7-day average of +0.029%). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | RISEx BTC/USDC | 85,478.5 | 0.0194 | pay 0.0024% / 1h | 53m 53s | $8.9M | $42.9M | 25x |
| Short | Deribit BTC-PERPETUAL | 85,461.7 | 0.0018 | get 0.0002% / 1h | 53m 53s | $829.8M | $1.67B | 50x |
RISEx BTC/USDC
Deribit BTC-PERPETUALFunding history
latest
Range statsloading…
Price spread between the two exchanges
Deribit against RISEx. 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
- −$36.91
- Price spread: −0.020% → +0.029%
- −$4.91
- Slippage, 4 orders
- −$1.08
- Fee RISEx: 3 bp × 2 orders
- −$6
- Fee Deribit: 3.5 bp × 2 orders
- −$7
- Net
- −$55.89
- Costs to cover
- 0.141%
- Break-even
- never at this rate
Slippage from RISEx: live order book, 15 min ago; Deribit: live order book, 5 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, 15 min ago | 0.01 bp | 3.2 bp −$3 | 3.2 bp −$32 | 11.3 bp −$1,130 | doesn't fit |
| Sell Deribit live order book, 5 min ago | 0.03 bp | 3.5 bp −$4 | 3.5 bp −$35 | 5.9 bp −$592 | 13.0 bp −$6,519 |
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 | |
|---|---|---|---|---|---|---|---|---|
| Hotstuff BTC-PERP | −0.0080% | 1h | 85,455 | −0.028% | $8K | $2K | 50x | as long as short |
| Phoenix BTC | −0.0034% | 1h | 85,441 | −0.044% | $2.3M | $10.4M | 40x | as long as short |
| BloFin BTC-USDT | −0.0020% | 8h | 85,391.5 | −0.102% | $425.1M | $685.3M | 150x | as long as short |
| Injective BTC/USDC PERP | −0.0006% | 1h | 85,417 | −0.072% | $307K | $23.1M | 52x | as long as short |
| 01 Exchange BTCUSD | 0.0000% | 1h | 85,467.7 | −0.013% | $344K | $2.3M | 50x | as long as short |
| KuCoin XBTUSDTM | +0.0003% | 8h | 85,435.4 | −0.050% | $930.4M | $776.7M | 125x | as long as short |
| gTrade (Gains Network) BTC/USD | L +0.0004% / S −0.0004% | 1h | 85,439.4 | −0.046% | $36.5M | — | 200x | as long as short |
| Deribit BTC-PERPETUALshort | +0.0018% | 1h | 85,461.7 | −0.020% | $829.8M | $1.67B | 50x | |
| dYdX BTC-USD | +0.0019% | 1h | 85,464.7 | −0.016% | $16.7M | $21.0M | 50x | as long as short |
| Aster BTCUSDT | +0.0023% | 8h | 85,434.3 | −0.052% | $502.3M | $1.09B | 200x | as long as short |
Hotstuff BTC-PERP
Phoenix BTC
BloFin BTC-USDT
Injective BTC/USDC PERP
01 Exchange BTCUSD
KuCoin XBTUSDTM
gTrade (Gains Network) BTC/USD
dYdX BTC-USD
Aster BTCUSDTShow all 56 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Kraken Futures PF_XBTUSD | +0.0068% | 1h | 85,441.9 | −0.043% | $186.4M | $953.8M | 100x | as long as short |
| BingX BTC-USDC | +0.0080% | 8h | 85,426.6 | −0.061% | — | $17.5M | — | as long as short |
| Lighter BTC | +0.0096% | 1h | 85,445.5 | −0.039% | $170.5M | $939.7M | 50x | as long as short |
| Lighter RH BTC | +0.0096% | 1h | 85,451.9 | −0.031% | $23.6M | $133.5M | 50x | as long as short |
| Popdex BTCUSDT | +0.0096% | 1h | 85,467 | −0.013% | $8.7M | $58.4M | 100x | as long as short |
| Aevo BTC-PERP | +0.0096% | 1h | 85,436.5 | −0.049% | $2.4M | $6.7M | 20x | as long as short |
| Katana Perps BTC-USD | +0.0100% | 8h | 85,434 | −0.052% | $264K | $8.7M | 50x | as long as short |
| Paradex BTC-USD-PERP | +0.0100% | 8h | 85,485.6 | +0.008% | $5.7M | $9.6M | 50x | as long as short |
| Nado BTC-PERP | +0.0100% | 1h | 85,459.2 | −0.023% | $24.1M | $220.1M | 50x | as long as short |
| Pacifica BTC | +0.0100% | 1h | 85,475.4 | −0.004% | $40.2M | $604.6M | 50x | as long as short |
| Binance BTCUSDT | +0.0100% | 8h | 85,435.9 | −0.050% | $9.41B | $25.19B | 150x | as long as short |
| Bybit BTCUSDT | +0.0100% | 8h | 85,434.7 | −0.051% | $5.08B | $10.03B | 150x | as long as short |
| OKX BTC-USDT-SWAP | +0.0100% | 8h | 85,416.7 | −0.072% | $2.61B | $12.24B | 100x | as long as short |
| Ondo Perps BTC-USD.P | +0.0100% | 1h | 85,462 | −0.019% | $3.8M | $17.4M | 25x | as long as short |
| Arcus BTC-USD | +0.0100% | 1h | 85,468 | −0.012% | $4.6M | $97.6M | 40x | as long as short |
| Bulk BTC-USD | +0.0100% | 1h | 85,382 | −0.113% | $697.9M | $180.4M | 40x | as long as short |
| Gate BTC_USDT | +0.0100% | 8h | 85,440.4 | −0.045% | $5.46B | $9.83B | 200x | as long as short |
| MEXC BTC_USDT | +0.0100% | 8h | 85,438.3 | −0.047% | $5.02B | $5.71B | 500x | as long as short |
| Bitget BTCUSDT | +0.0100% | 8h | 85,420 | −0.068% | $2.98B | $5.18B | 150x | as long as short |
| Backpack BTC_USDC_PERP | +0.0100% | 1h | 85,428.9 | −0.058% | $37.7M | $193.7M | 75x | as long as short |
| Variational Omni BTC | +0.0100% | 8h | 85,356 | −0.143% | $155.8M | $547.8M | — | as long as short |
| edgeX BTCUSDC | +0.0100% | 4h | 85,397.3 | −0.095% | $283.2M | $959.0M | 100x | as long as short |
| GRVT BTC_USDT_Perp | +0.0100% | 8h | 85,349.1 | −0.151% | $214.2M | $159.0M | 50x | as long as short |
| ApeX Omni BTCUSDT | +0.0100% | 1h | 85,343.3 | −0.158% | $138.1M | $312.7M | 100x | as long as short |
| StandX BTC-USD | +0.0100% | 1h | 85,397 | −0.095% | $30.1M | $216.9M | 40x | as long as short |
| Vest BTC-PERP | +0.0100% | 1h | 85,525.4 | +0.055% | — | $9.5M | 50x | as long as short |
| Polymarket Perps BTC-USD | +0.0100% | 1h | 85,314 | −0.192% | $10.9M | $14.9M | 50x | as long as short |
| Bullet BTC-USD | +0.0100% | 1h | 85,466.9 | −0.014% | $199K | $3.3M | 20x | as long as short |
| Orderly PERP_BTC_USDC | +0.0100% | 8h | 85,436.3 | −0.049% | $2.7M | $9.9M | 100x | as long as short |
| Bluefin BTC-PERP | +0.0100% | 1h | 85,479.3 | +0.001% | $194K | $796K | 40x | as long as short |
| SunX BTC-USDT | +0.0100% | 8h | 85,452.5 | −0.030% | $2.9M | $6.1M | 100x | as long as short |
| SoDEX BTC-USD | +0.0100% | 1h | 85,432 | −0.054% | $59.8M | $336.7M | 40x | as long as short |
| HTX BTC-USDT | +0.0100% | 8h | 85,430.8 | −0.056% | $2.26B | $976.5M | 200x | as long as short |
| Phemex BTCUSDT | +0.0100% | 8h | 85,446.7 | −0.037% | $160.1M | $517.3M | 150x | as long as short |
| Extended BTC-USD | +0.0104% | 1h | 85,413.1 | −0.077% | $45.7M | $241.9M | 50x | as long as short |
| Jupiter Perps WBTC-PERP | L +0.0104% / S +0.0056% | 1h | 85,419.7 | −0.069% | — | $106.7M | 500x | as long as short |
| Coinbase International BTC-PERP-INTX | +0.0112% | 1h | 85,475 | −0.004% | $111.3M | $5.47B | 50x | as long as short |
| Reya BTCRUSDPERP | +0.0146% | 1h | 85,452 | −0.031% | $6.6M | $140.2M | 40x | as long as short |
| Derive BTC-PERP | +0.0170% | 1h | 85,488.3 | +0.011% | $28.8M | $49.6M | 15x | as long as short |
| GMX BTC/USD [WBTC.b-USDC] | L +0.0174% / S −0.0148% | 1h | 85,453.3 | −0.030% | $13.0M | — | 200x | as long as short |
| Kalshi KXBTCPERP | +0.0181% | 8h | 85,488 | +0.011% | $10.8M | $740.5M | 6.4x | as long as short |
| RISEx BTC/USDClong | +0.0194% | 1h | 85,478.5 | long leg | $8.9M | $42.9M | 25x | |
| Hyperliquid BTC | +0.0284% | 1h | 85,531 | +0.061% | $3.84B | $5.11B | 40x | as long as short |
| Aftermath Perps BTCUSD | +0.0293% | 1h | 85,393.6 | −0.099% | $81K | $247K | 20x | as long as short |
| Hibachi BTC/USDT-P | +0.0320% | 1h | 85,404.5 | −0.087% | $686K | $7.7M | 30x | as long as short |
| Perpl BTC | +0.0447% | 43m | 85,464 | −0.017% | $470K | $18.4M | 6.7x | as long as short |
Kraken Futures PF_XBTUSD
BingX BTC-USDC
Lighter BTC
Lighter RH BTC
Popdex BTCUSDT
Aevo BTC-PERP
Katana Perps BTC-USD
Paradex BTC-USD-PERP
Nado BTC-PERP
Pacifica BTC
Binance BTCUSDT
Bybit BTCUSDT
OKX BTC-USDT-SWAP
Ondo Perps BTC-USD.P
Arcus BTC-USD
Bulk BTC-USD
Gate BTC_USDT
MEXC BTC_USDT
Bitget BTCUSDT
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
SunX BTC-USDT
SoDEX BTC-USD
HTX BTC-USDT
Phemex BTCUSDT
Extended BTC-USD
Jupiter Perps WBTC-PERP
Coinbase International BTC-PERP-INTX
Reya BTCRUSDPERP
Derive BTC-PERP
GMX BTC/USD [WBTC.b-USDC]
Kalshi KXBTCPERP
Hyperliquid BTC
Aftermath Perps BTCUSD
Hibachi BTC/USDT-P
Perpl BTC