Funding you earn now, next payment 04:00 UTC−0.1497%/8h= −163.9% APRpaid last 24h −0.170%
Price spread now: Bluefin against SunX+0.032%7-day average −0.008% · you sell dearer than you buy
Net, funding: paid 7d − costs−$51as in the Funding arb table
Net, price: spread back to 7d avg − costs−$19as in the Price arb table
costs, in and out, $10k−$230.227% of the position
Funding, last 7 days−0.280%−$28 on $10k
+Price spread, last 4 days (all we have)−0.009%−$1 · spread now +0.032%, 7d avg −0.008%
=The price spread pays, funding is against you. Bluefin is 0.040% dearer against SunX than usual: you sell high and buy low (spread +0.032% now, against its 7-day average of −0.008%): +$4 on $10k if it goes back. Holding the pair costs −$45 a day in funding at the current rate, which eats that in about 2 hours. At the pace of the last 7 days (−0.280% in total) that is about 24 hours.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.280% in total (about -14.6% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | SunX BTC-USDT | 85,539 | 0.0100 | pay 0.0100% / 8h | 4h 48m | $2.9M | $6.1M | 100x |
| Short | Bluefin BTC-PERP | 85,566.1 | −0.1397 | pay 0.0175% / 1h | 48m 41s | $194K | $725K | 40x |
SunX BTC-USDT
Bluefin BTC-PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Bluefin against SunX. 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
- −$314.4
- Price spread: +0.032% → −0.008%
- $4
- Slippage, 4 orders
- −$7.73
- Fee SunX: 4 bp × 2 orders
- −$8
- Fee Bluefin: 3.5 bp × 2 orders
- −$7
- Net
- −$333.13
- Costs to cover
- 0.227%
- Break-even
- never at this rate
Slippage from SunX: live order book, 10 min ago; Bluefin: live order book, 10 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 SunX live order book, 10 min ago | 0.09 bp | 4.9 bp −$5 | 6.3 bp −$63 | 8.3 bp −$831 | 11.2 bp −$5,602 |
| Sell Bluefin live order book, 10 min ago | 2.16 bp | 6.1 bp −$6 | 11.3 bp −$113 | 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 | −0.1397% | 1h | 85,566.1 | +0.032% | $194K | $725K | 40x | |
| Phoenix BTC | −0.0179% | 1h | 85,568 | +0.034% | $2.2M | $10.3M | 40x | as long as short |
| Hotstuff BTC-PERP | −0.0080% | 1h | 85,576 | +0.043% | $8K | $3K | 50x | as long as short |
| 01 Exchange BTCUSD | −0.0040% | 1h | 85,531.7 | −0.009% | $368K | $2.3M | 50x | as long as short |
| BloFin BTC-USDT | −0.0030% | 8h | 85,528.7 | −0.012% | $417.9M | $665.3M | 150x | as long as short |
| KuCoin XBTUSDTM | −0.0002% | 8h | 85,513.6 | −0.030% | $918.2M | $749.4M | 125x | as long as short |
| dYdX BTC-USD | 0.0000% | 1h | 85,559.9 | +0.024% | $16.7M | $21.2M | 50x | as long as short |
| gTrade (Gains Network) BTC/USD | L +0.0005% / S −0.0004% | 1h | 85,543.1 | +0.005% | $36.5M | — | 200x | as long as short |
| Aster BTCUSDT | +0.0015% | 8h | 85,537.6 | −0.002% | $515.6M | $1.10B | 200x | as long as short |
| Arcus BTC-USD | +0.0021% | 1h | 85,531.1 | −0.009% | $6.9M | $97.2M | 40x | as long as short |
Phoenix BTC
Hotstuff BTC-PERP
01 Exchange BTCUSD
BloFin BTC-USDT
KuCoin XBTUSDTM
dYdX BTC-USD
gTrade (Gains Network) BTC/USD
Aster BTCUSDT
Arcus BTC-USDShow all 56 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Nado BTC-PERP | +0.0056% | 1h | 85,560.6 | +0.025% | $22.5M | $218.7M | 50x | as long as short |
| BingX BTC-USDT | +0.0058% | 8h | 85,536.5 | −0.003% | — | $1.54B | — | as long as short |
| Bitget BTCUSDT | +0.0075% | 8h | 85,538.4 | −0.001% | $2.96B | $5.01B | 150x | as long as short |
| Reya BTCRUSDPERP | +0.0077% | 1h | 85,538.6 | 0.000% | $6.7M | $146.6M | 40x | as long as short |
| Aevo BTC-PERP | +0.0088% | 1h | 85,536 | −0.004% | $2.5M | $1.7M | 20x | as long as short |
| MEXC BTC_USDT | +0.0089% | 8h | 85,526.1 | −0.015% | $5.04B | $5.58B | 500x | as long as short |
| Binance BTCUSDT | +0.0089% | 8h | 85,521.8 | −0.020% | $9.33B | $23.97B | 150x | as long as short |
| SoDEX BTC-USD | +0.0095% | 1h | 85,532 | −0.008% | $59.9M | $336.1M | 40x | as long as short |
| Lighter BTC | +0.0096% | 1h | 85,526.6 | −0.014% | $173.7M | $1.00B | 50x | as long as short |
| Lighter RH BTC | +0.0096% | 1h | 85,534.4 | −0.005% | $23.8M | $148.2M | 50x | as long as short |
| Popdex BTCUSDT | +0.0096% | 1h | 85,559 | +0.023% | $8.4M | $52.6M | 100x | as long as short |
| Paradex BTC-USD-PERP | +0.0100% | 8h | 85,571.6 | +0.038% | $3.9M | $8.3M | 50x | as long as short |
| Katana Perps BTC-USD | +0.0100% | 8h | 85,524 | −0.018% | $232K | $7.9M | 50x | as long as short |
| Hyperliquid BTC | +0.0100% | 1h | 85,600 | +0.071% | $3.74B | $4.97B | 40x | as long as short |
| Pacifica BTC | +0.0100% | 1h | 85,553.7 | +0.017% | $40.1M | $575.8M | 50x | as long as short |
| Bybit BTCUSDT | +0.0100% | 8h | 85,527.5 | −0.013% | $5.32B | $9.58B | 150x | as long as short |
| OKX BTC-USDT-SWAP | +0.0100% | 8h | 85,533.8 | −0.006% | $2.57B | $12.08B | 100x | as long as short |
| Ondo Perps BTC-USD.P | +0.0100% | 1h | 85,529 | −0.012% | $3.9M | $17.9M | 25x | as long as short |
| Bulk BTC-USD | +0.0100% | 1h | 85,696.6 | +0.184% | $648.3M | $574.6M | 40x | as long as short |
| Gate BTC_USDT | +0.0100% | 8h | 85,552.4 | +0.016% | $5.53B | $10.55B | 200x | as long as short |
| Backpack BTC_USDC_PERP | +0.0100% | 1h | 85,514.5 | −0.029% | $35.8M | $175.9M | 75x | as long as short |
| Variational Omni BTC | +0.0100% | 8h | 85,584.4 | +0.053% | $156.6M | $560.5M | — | as long as short |
| edgeX BTCUSDC | +0.0100% | 4h | 85,637.5 | +0.115% | $279.7M | $917.8M | 100x | as long as short |
| GRVT BTC_USDT_Perp | +0.0100% | 8h | 85,650.2 | +0.130% | $214.9M | $165.8M | 50x | as long as short |
| ApeX Omni BTCUSDT | +0.0100% | 1h | 85,590.3 | +0.060% | $139.9M | $314.8M | 100x | as long as short |
| StandX BTC-USD | +0.0100% | 1h | 85,613.8 | +0.087% | $30.3M | $207.5M | 40x | as long as short |
| Vest BTC-PERP | +0.0100% | 1h | 85,617 | +0.091% | — | $11.8M | 50x | as long as short |
| Polymarket Perps BTC-USD | +0.0100% | 1h | 85,548 | +0.011% | $11.0M | $14.2M | 50x | as long as short |
| Bullet BTC-USD | +0.0100% | 1h | 85,546.9 | +0.009% | $194K | $3.3M | 20x | as long as short |
| Orderly PERP_BTC_USDC | +0.0100% | 8h | 85,522.7 | −0.019% | $2.4M | $8.7M | 100x | as long as short |
| Derive BTC-PERP | +0.0100% | 1h | 85,528.9 | −0.012% | $30.0M | $50.9M | 15x | as long as short |
| SunX BTC-USDTlong | +0.0100% | 8h | 85,539 | long leg | $2.9M | $6.1M | 100x | |
| HTX BTC-USDT | +0.0100% | 8h | 85,533.6 | −0.006% | $2.26B | $939.1M | 200x | as long as short |
| Phemex BTCUSDT | +0.0100% | 8h | 85,532.7 | −0.007% | $150.9M | $482.9M | 150x | as long as short |
| Extended BTC-USD | +0.0104% | 1h | 85,510.8 | −0.033% | $44.5M | $226.3M | 50x | as long as short |
| Jupiter Perps WBTC-PERP | L +0.0104% / S +0.0056% | 1h | 85,585.5 | +0.054% | — | $106.5M | 500x | as long as short |
| Coinbase International BTC-PERP-INTX | +0.0104% | 1h | 85,567.9 | +0.034% | $117.4M | $5.15B | 50x | as long as short |
| Injective BTC/USDC PERP | +0.0150% | 1h | 85,497 | −0.049% | $339K | $26.9M | 52x | as long as short |
| Kraken Futures PF_XBTUSD | +0.0170% | 1h | 85,554.5 | +0.018% | $188.5M | $952.6M | 100x | as long as short |
| GMX BTC/USD [WBTC.b-USDC] | L +0.0176% / S −0.0151% | 1h | 85,545.1 | +0.007% | $13.4M | — | 200x | as long as short |
| Deribit BTC-PERPETUAL | +0.0183% | 1h | 85,581.3 | +0.049% | $893.4M | $1.53B | 50x | as long as short |
| Hibachi BTC/USDT-P | +0.0184% | 1h | 85,625.7 | +0.101% | $695K | $7.9M | 30x | as long as short |
| RISEx BTC/USDC | +0.0194% | 1h | 85,574.5 | +0.042% | $8.4M | $42.4M | 25x | as long as short |
| Aftermath Perps BTCUSD | +0.0202% | 1h | 85,648.3 | +0.128% | $78K | $219K | 20x | as long as short |
| Kalshi KXBTCPERP | +0.0218% | 8h | 85,581 | +0.049% | $10.7M | $758.5M | 6.4x | as long as short |
| Perpl BTC | +0.0447% | 43m | 85,606.6 | +0.079% | $495K | $18.9M | 6.7x | as long as short |
Nado BTC-PERP
BingX BTC-USDT
Bitget BTCUSDT
Reya BTCRUSDPERP
Aevo BTC-PERP
MEXC BTC_USDT
Binance BTCUSDT
SoDEX BTC-USD
Lighter BTC
Lighter RH BTC
Popdex BTCUSDT
Paradex BTC-USD-PERP
Katana Perps BTC-USD
Hyperliquid BTC
Pacifica BTC
Bybit BTCUSDT
OKX BTC-USDT-SWAP
Ondo Perps BTC-USD.P
Bulk BTC-USD
Gate BTC_USDT
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
Derive BTC-PERP
HTX BTC-USDT
Phemex BTCUSDT
Extended BTC-USD
Jupiter Perps WBTC-PERP
Coinbase International BTC-PERP-INTX
Injective BTC/USDC PERP
Kraken Futures PF_XBTUSD
GMX BTC/USD [WBTC.b-USDC]
Deribit BTC-PERPETUAL
Hibachi BTC/USDT-P
RISEx BTC/USDC
Aftermath Perps BTCUSD
Kalshi KXBTCPERP
Perpl BTC