BTC

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0008%/8h= −0.9% APRnext payment −$0.01 per $10,000 · paid last 24h −0.034%

Price spread now: Reya against RISEx−0.006%7-day average −0.045% · you buy dearer than you sell

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

Long on RISEx Short on Reya

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.016%−$2 on $10k

Price spread, last 7 days−0.039%−$4 · spread now −0.006%, 7d avg −0.045%

Together, before fees−0.055%+ Points / potential airdropReya: Active · farm board−$5 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Reya is 0.038% dearer against RISEx than usual: you sell high and buy low, +$4 on $10k if it goes back to its 7-day average of −0.045%.

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	34m 23s	$8.3M	$42.5M	25x
Short	Reya BTCRUSDPERP	86,359.1	0.0044	get 0.0006% / 1h	34m 23s	$6.7M	$145.7M	40x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Reya against RISEx. 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

Position, each leg$Hold fordaysFee RISExbpFee ReyabpOrdersPrice spread, now −0.006%Rate

Funding earned: −$1.7
Price spread: −0.006% → −0.045%: $3.83
Slippage, 4 orders: no order book: not counted
Fee RISEx: 3 bp × 2 orders: −$6
Fee Reya: 3 bp × 2 orders: −$6
Net: −$9.87
Costs to cover: 0.120%
Break-even: never at this rate

Slippage unknown: RISEx: live order book, 5 min ago; Reya: 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 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 Reya no order-book sample	—	—	—	—	—

Reya: 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	−0.0645%	1h	86,350.4	−0.017%	$144K	$666K	40x	as long as short
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	86,361.5	−0.004%	$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	86,360.5	−0.005%	$830.4M	$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 BTCRUSDPERPshort	+0.0044%	1h	86,359.1	−0.006%	$6.7M	$145.7M	40x
BingX BTC-USDT	+0.0050%	8h	86,352	−0.015%	—	$1.58B	—	as long as short
Deribit BTC-PERPETUAL	+0.0052%	1h	86,375.9	+0.013%	$903.2M	$1.51B	50x	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	86,357.1	−0.009%	$2.97B	$5.04B	150x	as long as short
Phemex BTCUSDT	+0.0067%	8h	86,327.8	−0.043%	$153.7M	$473.9M	150x	as long as short
MEXC BTC_USDT	+0.0077%	8h	86,359.7	−0.006%	$5.13B	$5.69B	500x	as long as short
Binance BTCUSDT	+0.0077%	8h	86,359.8	−0.006%	$9.40B	$24.30B	150x	as long as short
Aevo BTC-PERP	+0.0080%	1h	86,327.5	−0.043%	$2.5M	$1.7M	20x	as long as short
HTX BTC-USDT	+0.0090%	8h	86,325	−0.046%	$2.29B	$964.7M	200x	as long as short
Lighter BTC	+0.0096%	1h	86,358.7	−0.007%	$170.4M	$985.0M	50x	as long as short
Lighter RH BTC	+0.0096%	1h	86,367.9	+0.004%	$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	+0.0096%	1h	86,336	−0.033%	$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	86,429.7	+0.075%	$3.79B	$4.99B	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	86,368.9	+0.005%	$5.25B	$9.67B	150x	as long as short
OKX BTC-USDT-SWAP	+0.0100%	8h	86,374.6	+0.011%	$2.56B	$12.49B	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	86,354	−0.012%	$5.81B	$10.53B	200x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	86,328.8	−0.042%	$37.6M	$156.0M	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	86,330.1	−0.040%	$2.4M	$8.9M	100x	as long as short
Derive BTC-PERP	+0.0100%	1h	86,365.3	+0.001%	$30.5M	$58.9M	15x	as long as short
SunX BTC-USDT	+0.0100%	8h	86,429	+0.074%	$3.4M	$5.2M	100x	as long as short
Extended BTC-USD	+0.0104%	1h	86,332.6	−0.037%	$45.9M	$222.3M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0048%	1h	86,351.4	−0.015%	—	$98.8M	500x	as long as short
Coinbase International BTC-PERP-INTX	+0.0120%	1h	86,378	+0.015%	$132.0M	$5.42B	50x	as long as short
Kraken Futures PF_XBTUSD	+0.0121%	1h	86,367.6	+0.003%	$192.1M	$941.6M	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	86,346.6	−0.021%	$14.5M	—	200x	as long as short
Kalshi KXBTCPERP	+0.0210%	8h	86,381	+0.019%	$9.9M	$762.0M	6.4x	as long as short