BTC

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0076%/8h= +8.3% APRnext payment +$0.10 per $10,000 · paid last 24h +0.038%

Price spread now: Deribit against SoDEX+0.048%7-day average +0.055% · 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−$16as in the Price arb table

costs, in and out, $10k−$150.152% of the position

Long on SoDEX Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.047%+$5 on $10k

Price spread, last 3 days (all we have)0.000%$0 · spread now +0.048%, 7d avg +0.055%

Together, before fees+0.047%+$5 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.055%, so right now this pair is about funding alone: +$2 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SoDEX BTC-USD	85,756	0.0100	pay 0.0013% / 1h	24m 13s	$60.0M	$337.3M	40x
Short	Deribit BTC-PERPETUAL	85,797.4	0.0176	get 0.0022% / 1h	24m 13s	$894.7M	$1.53B	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against SoDEX. 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 SoDEXbpFee DeribitbpOrdersPrice spread, now +0.048%Rate

Funding earned: $16
Price spread: +0.048% → +0.055%: −$0.62
Slippage, 4 orders: −$0.17
Fee SoDEX: 4 bp × 2 orders: −$8
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: $0.2
Costs to cover: 0.152%
Break-even: 6.9 days

Slippage from SoDEX: live order book, 5 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 SoDEX live order book, 5 min ago	0.06 bp	4.1 bp −$4	4.1 bp −$41	5.1 bp −$505	41.4 bp −$20.7K
Sell Deribit live order book, 5 min ago	0.03 bp	3.5 bp −$4	5.0 bp −$50	8.4 bp −$845	15.7 bp −$7,871

BTC on 55 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
Phoenix BTC	−0.0144%	1h	85,733	−0.027%	$2.2M	$10.5M	40x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	85,777	+0.024%	$8K	$3K	50x	as long as short
01 Exchange BTCUSD	−0.0064%	1h	85,745.4	−0.012%	$365K	$2.3M	50x	as long as short
Perpl BTC	0.0000%	43m	85,805.5	+0.058%	$514K	$20.5M	6.7x	as long as short
dYdX BTC-USD	+0.0002%	1h	85,800	+0.051%	$16.8M	$21.0M	50x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0004% / S −0.0004%	1h	85,768.7	+0.015%	$36.7M	—	200x	as long as short
Injective BTC/USDC PERP	+0.0020%	1h	85,691	−0.076%	$340K	$26.9M	52x	as long as short
KuCoin XBTUSDTM	+0.0033%	8h	85,735.7	−0.024%	$903.4M	$754.4M	125x	as long as short
Aster BTCUSDT	+0.0037%	8h	85,752.2	−0.004%	$516.6M	$1.14B	200x	as long as short
RISEx BTC/USDC	+0.0044%	1h	85,779.1	+0.027%	$8.2M	$42.0M	25x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado BTC-PERP	+0.0055%	1h	85,792.9	+0.043%	$22.6M	$227.5M	50x	as long as short
BingX BTC-USDC	+0.0055%	8h	85,761.4	+0.006%	—	$16.2M	—	as long as short
Reya BTCRUSDPERP	+0.0058%	1h	85,751.1	−0.006%	$6.7M	$146.3M	40x	as long as short
Bitget BTCUSDT	+0.0070%	8h	85,756	0.000%	$2.95B	$5.08B	150x	as long as short
ApeX Omni BTCUSDT	+0.0070%	1h	85,752.5	−0.004%	$140.2M	$319.5M	100x	as long as short
HTX BTC-USDT	+0.0075%	8h	85,734.1	−0.026%	$2.27B	$946.6M	200x	as long as short
Aevo BTC-PERP	+0.0088%	1h	85,746.3	−0.011%	$2.5M	$1.8M	20x	as long as short
MEXC BTC_USDT	+0.0091%	8h	85,751.4	−0.005%	$5.07B	$5.73B	500x	as long as short
Binance BTCUSDT	+0.0092%	8h	85,750.3	−0.007%	$9.34B	$24.30B	150x	as long as short
Lighter BTC	+0.0096%	1h	85,762.3	+0.007%	$170.4M	$990.4M	50x	as long as short
Lighter RH BTC	+0.0096%	1h	85,769.6	+0.016%	$23.5M	$147.4M	50x	as long as short
Popdex BTCUSDT	+0.0096%	1h	85,757	+0.001%	$8.4M	$51.9M	100x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	85,732	−0.028%	$202K	$7.5M	50x	as long as short
Paradex BTC-USD-PERP	+0.0100%	8h	85,740.5	−0.018%	$3.8M	$8.4M	50x	as long as short
Hyperliquid BTC	+0.0100%	1h	85,815	+0.069%	$3.76B	$4.97B	40x	as long as short
Pacifica BTC	+0.0100%	1h	85,808	+0.061%	$40.3M	$571.4M	50x	as long as short
Bybit BTCUSDT	+0.0100%	8h	85,763.6	+0.009%	$5.31B	$9.74B	150x	as long as short
OKX BTC-USDT-SWAP	+0.0100%	8h	85,765	+0.010%	$2.54B	$12.36B	100x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	85,764	+0.009%	$4.0M	$18.1M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	85,726.5	−0.034%	$7.3M	$98.0M	40x	as long as short
Bulk BTC-USD	+0.0100%	1h	85,744.8	−0.013%	$590.5M	$195.3M	40x	as long as short
Gate BTC_USDT	+0.0100%	8h	85,766.4	+0.012%	$5.61B	$10.54B	200x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	85,785.7	+0.035%	$35.4M	$164.8M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	85,799.4	+0.051%	$156.6M	$556.2M	—	as long as short
edgeX BTCUSDC	+0.0100%	4h	85,740.4	−0.018%	$278.7M	$939.3M	100x	as long as short
GRVT BTC_USDT_Perp	+0.0100%	8h	85,752.4	−0.004%	$215.2M	$166.3M	50x	as long as short
StandX BTC-USD	+0.0100%	1h	85,779.6	+0.027%	$30.3M	$208.5M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	85,819.6	+0.074%	—	$11.8M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	85,752	−0.005%	$11.0M	$14.2M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	85,764	+0.009%	$187K	$3.3M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	85,754.9	−0.001%	$2.4M	$9.0M	100x	as long as short
Bluefin BTC-PERP	+0.0100%	1h	85,781.2	+0.029%	$186K	$708K	40x	as long as short
Derive BTC-PERP	+0.0100%	1h	85,760.3	+0.005%	$30.0M	$56.2M	15x	as long as short
SunX BTC-USDT	+0.0100%	8h	85,722	−0.040%	$2.9M	$6.6M	100x	as long as short
SoDEX BTC-USDlong	+0.0100%	1h	85,756	long leg	$60.0M	$337.3M	40x
Phemex BTCUSDT	+0.0100%	8h	85,756.3	0.000%	$154.2M	$480.4M	150x	as long as short
Extended BTC-USD	+0.0104%	1h	85,734.1	−0.026%	$44.1M	$228.1M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0056%	1h	85,768.4	+0.014%	—	$100.9M	500x	as long as short
Coinbase International BTC-PERP-INTX	+0.0112%	1h	85,792	+0.042%	$131.1M	$5.15B	50x	as long as short
Hibachi BTC/USDT-P	+0.0136%	1h	85,815.6	+0.070%	$697K	$7.9M	30x	as long as short
Kraken Futures PF_XBTUSD	+0.0146%	1h	85,775.9	+0.023%	$188.5M	$962.9M	100x	as long as short
Aftermath Perps BTCUSD	+0.0164%	1h	85,750.4	−0.007%	$78K	$219K	20x	as long as short
Deribit BTC-PERPETUALshort	+0.0176%	1h	85,797.4	+0.048%	$894.7M	$1.53B	50x
GMX BTC/USD [WBTC.b-USDC]	L +0.0203% / S −0.0190%	1h	85,766.1	+0.012%	$13.6M	—	200x	as long as short
Kalshi KXBTCPERP	+0.0211%	8h	85,798	+0.049%	$10.1M	$769.9M	6.4x	as long as short