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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 04:00 UTC−0.0274%/8h= −30.0% APRnext payment −$0.34 per $10,000 · paid last 24h −0.046%
Price spread now: Hotstuff against RISEx+0.056%7-day average — · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Long on RISExShort on Hotstuff
What this pair did over the last
the charts below follow
Funding, last 4 days (all we have)—no history yet
Price spread, last 7 days—no price history on both exchanges yet
Together, before fees—+ Points / potential airdropHotstuff: Active · farm boardneeds both histories
The price spread pays, funding is against you. Hotstuff is 0.056% dearer against RISEx than usual: you sell high and buy low (spread +0.056% now, against zero (this spread has no 7-day history yet)): +$6 on $10k if it goes back. Holding the pair costs −$8 a day in funding at the current rate, which eats that in about 16 hours.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongRISEx BTC/USDC85,618.70.0194pay 0.0024% / 1h50m 15s$8.4M$42.4M25x
ShortHotstuff BTC-PERP85,667−0.0080pay 0.0010% / 1h50m 15s$8K$3K50x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Hotstuff 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

Funding earned
−$57.45
Price spread: +0.056% → 0.000%
$5.64
Slippage, 4 orders
no order book: not counted
Fee RISEx: 3 bp × 2 orders
−$6
Fee Hotstuff: 2.5 bp × 2 orders
−$5
Net
−$62.81
Costs to cover
0.110%
Break-even
never at this rate
Slippage unknown: RISEx: live order book, 4 min ago; 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
LegHalf-spread$10k$100k$1M$5M
Buy RISEx live order book, 4 min ago0.01 bp3.0 bp −$33.0 bp −$3010.7 bp −$1,066doesn't fit
Sell Hotstuff no order-book sample—————
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.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Bluefin BTC-PERP−0.1630%1h85,626.9+0.010%$194K$725K40xas long as short
Phoenix BTC−0.0179%1h85,587−0.037%$2.2M$10.3M40xas long as short
Hotstuff BTC-PERPshort−0.0080%1h85,667+0.056%$8K$3K50x
01 Exchange BTCUSD−0.0048%1h85,586.5−0.038%$370K$2.3M50xas long as short
BloFin BTC-USDT−0.0031%8h85,599.8−0.022%$417.7M$665.6M150xas long as short
KuCoin XBTUSDTM−0.0001%8h85,570−0.057%$919.1M$749.3M125xas long as short
dYdX BTC-USD0.0000%1h85,605.7−0.015%$16.7M$21.2M50xas long as short
gTrade (Gains Network) BTC/USDL +0.0004% / S −0.0004%1h85,597.3−0.025%$36.6M—200xas long as short
Aster BTCUSDT+0.0016%8h85,578.6−0.047%$515.8M$1.10B200xas long as short
Arcus BTC-USD+0.0021%1h85,570.1−0.057%$6.9M$97.1M40xas long as short
Show all 56 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Nado BTC-PERP+0.0054%1h85,583.7−0.041%$22.6M$218.7M50xas long as short
BingX BTC-USDC+0.0058%8h85,574.4−0.052%—$17.1M—as long as short
Bitget BTCUSDT+0.0074%8h85,582−0.043%$2.96B$5.01B150xas long as short
Reya BTCRUSDPERP+0.0077%1h85,583.9−0.041%$6.7M$146.6M40xas long as short
Aevo BTC-PERP+0.0088%1h85,605.2−0.016%$2.5M$1.7M20xas long as short
MEXC BTC_USDT+0.0089%8h85,574.2−0.052%$5.04B$5.58B500xas long as short
Binance BTCUSDT+0.0089%8h85,581.4−0.044%$9.34B$23.97B150xas long as short
Lighter BTC+0.0096%1h85,592.2−0.031%$173.9M$1.00B50xas long as short
Lighter RH BTC+0.0096%1h85,595.2−0.027%$23.8M$148.1M50xas long as short
Popdex BTCUSDT+0.0096%1h85,591−0.032%$8.4M$52.5M100xas long as short
SoDEX BTC-USD+0.0097%1h85,581−0.044%$60.0M$336.1M40xas long as short
Paradex BTC-USD-PERP+0.0100%8h85,677.3+0.068%$3.8M$8.3M50xas long as short
Katana Perps BTC-USD+0.0100%8h85,567−0.060%$233K$7.9M50xas long as short
Hyperliquid BTC+0.0100%1h85,664+0.053%$3.74B$4.97B40xas long as short
Pacifica BTC+0.0100%1h85,628+0.011%$40.1M$576.9M50xas long as short
Bybit BTCUSDT+0.0100%8h85,579.8−0.045%$5.32B$9.58B150xas long as short
OKX BTC-USDT-SWAP+0.0100%8h85,574.1−0.052%$2.57B$12.08B100xas long as short
Ondo Perps BTC-USD.P+0.0100%1h85,590−0.034%$3.9M$18.0M25xas long as short
Bulk BTC-USD+0.0100%1h85,696.6+0.091%$648.3M$574.6M40xas long as short
Gate BTC_USDT+0.0100%8h85,594.7−0.028%$5.54B$10.54B200xas long as short
Backpack BTC_USDC_PERP+0.0100%1h85,606.4−0.014%$35.9M$175.9M75xas long as short
Variational Omni BTC+0.0100%8h85,584.4−0.040%$156.6M$560.5M—as long as short
edgeX BTCUSDC+0.0100%4h85,637.5+0.022%$279.7M$917.8M100xas long as short
GRVT BTC_USDT_Perp+0.0100%8h85,650.2+0.037%$214.9M$165.8M50xas long as short
ApeX Omni BTCUSDT+0.0100%1h85,649.2+0.036%$140.0M$314.9M100xas long as short
StandX BTC-USD+0.0100%1h85,613.8−0.006%$30.3M$207.5M40xas long as short
Vest BTC-PERP+0.0100%1h85,649.3+0.036%—$11.8M50xas long as short
Polymarket Perps BTC-USD+0.0100%1h85,584−0.041%$11.0M$14.1M50xas long as short
Bullet BTC-USD+0.0100%1h85,590.8−0.033%$194K$3.3M20xas long as short
Orderly PERP_BTC_USDC+0.0100%8h85,575.4−0.051%$2.4M$8.7M100xas long as short
Derive BTC-PERP+0.0100%1h85,580.2−0.045%$30.0M$50.9M15xas long as short
SunX BTC-USDT+0.0100%8h85,576.4−0.049%$2.9M$6.1M100xas long as short
HTX BTC-USDT+0.0100%8h85,582.5−0.042%$2.27B$938.3M200xas long as short
Phemex BTCUSDT+0.0100%8h85,581.9−0.043%$150.9M$482.7M150xas long as short
Extended BTC-USD+0.0104%1h85,558.5−0.070%$44.5M$226.2M50xas long as short
Jupiter Perps WBTC-PERPL +0.0104% / S +0.0056%1h85,633.8+0.018%—$106.5M500xas long as short
Coinbase International BTC-PERP-INTX+0.0104%1h85,621+0.003%$117.4M$5.14B50xas long as short
Injective BTC/USDC PERP+0.0150%1h85,670+0.060%$340K$26.9M52xas long as short
Kraken Futures PF_XBTUSD+0.0170%1h85,601.2−0.020%$188.6M$952.6M100xas long as short
GMX BTC/USD [WBTC.b-USDC]L +0.0176% / S −0.0151%1h85,598.4−0.024%$13.4M—200xas long as short
Hibachi BTC/USDT-P+0.0184%1h85,616.9−0.002%$698K$7.9M30xas long as short
RISEx BTC/USDClong+0.0194%1h85,618.7long leg$8.4M$42.4M25x
Deribit BTC-PERPETUAL+0.0196%1h85,631.3+0.015%$893.2M$1.53B50xas long as short
Aftermath Perps BTCUSD+0.0200%1h85,664.4+0.053%$78K$219K20xas long as short
Kalshi KXBTCPERP+0.0218%8h85,6190.000%$10.7M$758.6M6.4xas long as short
Perpl BTC+0.0447%43m85,632.2+0.016%$495K$18.9M6.7xas long as short