BTC

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0100%/8h= +10.9% APRnext payment +$0.13 per $10,000 · paid last 24h −0.116%

Price spread now: Bluefin against 01 Exchange+0.031%7-day average −0.033% · 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−$15as in the Price arb table

costs, in and out, $10k−$220.217% of the position

Long on 01 Exchange Short on Bluefin

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.333%−$33 on $10k

Price spread, last 4 days (all we have)−0.073%−$7 · spread now +0.031%, 7d avg −0.033%

Together, before fees−0.406%−$41 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and Bluefin is 0.064% dearer against 01 Exchange than usual: you sell high and buy low: +$6 more if the spread goes back to its 7-day average of −0.033%. Mind the row above: over the last 4 days funding on this pair cost −0.333%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	01 Exchange BTCUSD	85,243.1	0	get 0.0000% / 1h	36m 26s	$352K	$2.4M	50x
Short	Bluefin BTC-PERP	85,269.9	0.0100	get 0.0013% / 1h	36m 26s	$193K	$795K	40x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bluefin against 01 Exchange. 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 01 ExchangebpFee BluefinbpOrdersPrice spread, now +0.031%Rate

Funding earned: $21
Price spread: +0.031% → −0.033%: $6.41
Slippage, 4 orders: −$7.74
Fee 01 Exchange: 3.5 bp × 2 orders: −$7
Fee Bluefin: 3.5 bp × 2 orders: −$7
Net: $5.67
Costs to cover: 0.217%
Break-even: 5.1 days

Slippage from 01 Exchange: live order book, 3 min ago; Bluefin: live order book, 8 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 01 Exchange live order book, 3 min ago	0.01 bp	5.3 bp −$5	9.9 bp −$99	doesn't fit	doesn't fit
Sell Bluefin live order book, 8 min ago	1.09 bp	6.5 bp −$7	11.6 bp −$116	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
Phoenix BTC	−0.0082%	1h	85,242	−0.001%	$2.1M	$10.4M	40x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	85,249	+0.007%	$8K	$3K	50x	as long as short
KuCoin XBTUSDTM	−0.0046%	8h	85,214.8	−0.033%	$927.2M	$773.9M	125x	as long as short
BloFin BTC-USDT	−0.0028%	8h	85,236.1	−0.008%	$421.0M	$682.0M	150x	as long as short
Aster BTCUSDT	−0.0012%	8h	85,220.6	−0.026%	$512.1M	$1.09B	200x	as long as short
dYdX BTC-USD	0.0000%	1h	85,277	+0.040%	$16.7M	$21.4M	50x	as long as short
01 Exchange BTCUSDlong	0.0000%	1h	85,243.1	long leg	$352K	$2.4M	50x
Perpl BTC	0.0000%	43m	85,244.1	+0.001%	$495K	$18.5M	6.7x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0004% / S −0.0004%	1h	85,241.3	−0.002%	$36.4M	—	200x	as long as short
Nado BTC-PERP	+0.0045%	1h	85,233.6	−0.011%	$24.4M	$222.5M	50x	as long as short

Show all 56 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
ApeX Omni BTCUSDT	+0.0049%	1h	85,297.3	+0.064%	$139.5M	$314.5M	100x	as long as short
Injective BTC/USDC PERP	+0.0057%	1h	85,247	+0.005%	$338K	$26.8M	52x	as long as short
BingX BTC-USDT	+0.0070%	8h	85,230.4	−0.015%	—	$1.55B	—	as long as short
Bitget BTCUSDT	+0.0088%	8h	85,223.7	−0.023%	$2.96B	$5.18B	150x	as long as short
Kraken Futures PF_XBTUSD	+0.0089%	1h	85,262.9	+0.023%	$186.1M	$957.4M	100x	as long as short
MEXC BTC_USDT	+0.0091%	8h	85,220.8	−0.026%	$5.00B	$5.75B	500x	as long as short
Binance BTCUSDT	+0.0092%	8h	85,228.9	−0.017%	$9.42B	$24.97B	150x	as long as short
Lighter BTC	+0.0096%	1h	85,241.7	−0.002%	$169.9M	$1.02B	50x	as long as short
Lighter RH BTC	+0.0096%	1h	85,242.9	0.000%	$23.5M	$148.0M	50x	as long as short
Popdex BTCUSDT	+0.0096%	1h	85,227	−0.019%	$8.4M	$56.2M	100x	as long as short
Aevo BTC-PERP	+0.0096%	1h	85,249.7	+0.008%	$2.4M	$6.7M	20x	as long as short
SoDEX BTC-USD	+0.0097%	1h	85,250	+0.008%	$59.7M	$336.9M	40x	as long as short
Bybit BTCUSDT	+0.0100%	8h	85,227.6	−0.018%	$5.13B	$9.99B	150x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	85,206	−0.044%	$236K	$8.6M	50x	as long as short
Paradex BTC-USD-PERP	+0.0100%	8h	85,289.6	+0.055%	$5.8M	$9.6M	50x	as long as short
Hyperliquid BTC	+0.0100%	1h	85,297	+0.063%	$3.74B	$5.08B	40x	as long as short
Pacifica BTC	+0.0100%	1h	85,262.8	+0.023%	$40.2M	$604.4M	50x	as long as short
OKX BTC-USDT-SWAP	+0.0100%	8h	85,241	−0.002%	$2.59B	$12.25B	100x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	85,224	−0.022%	$3.8M	$17.1M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	85,233	−0.012%	$5.2M	$99.4M	40x	as long as short
Bulk BTC-USD	+0.0100%	1h	85,278.8	+0.042%	$682.9M	$449.0M	40x	as long as short
Gate BTC_USDT	+0.0100%	8h	85,225.7	−0.020%	$5.49B	$10.99B	200x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	85,229.1	−0.016%	$37.0M	$178.7M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	85,253.8	+0.013%	$154.6M	$558.4M	—	as long as short
edgeX BTCUSDC	+0.0100%	4h	85,212.7	−0.036%	$279.2M	$949.9M	100x	as long as short
GRVT BTC_USDT_Perp	+0.0100%	8h	85,291	+0.056%	$214.2M	$166.1M	50x	as long as short
StandX BTC-USD	+0.0100%	1h	85,255.1	+0.014%	$30.0M	$203.9M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	85,289	+0.054%	—	$10.9M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	85,226	−0.020%	$11.0M	$14.6M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	85,227.6	−0.018%	$201K	$3.3M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	85,232.3	−0.013%	$2.6M	$9.8M	100x	as long as short
Bluefin BTC-PERPshort	+0.0100%	1h	85,269.9	+0.031%	$193K	$795K	40x
Derive BTC-PERP	+0.0100%	1h	85,216.4	−0.031%	$29.9M	$47.8M	15x	as long as short
SunX BTC-USDT	+0.0100%	8h	85,252.5	+0.011%	$2.9M	$6.1M	100x	as long as short
HTX BTC-USDT	+0.0100%	8h	85,248.9	+0.007%	$2.25B	$970.2M	200x	as long as short
Phemex BTCUSDT	+0.0100%	8h	85,262.4	+0.023%	$150.8M	$509.2M	150x	as long as short
Extended BTC-USD	+0.0104%	1h	85,203.2	−0.047%	$44.8M	$240.7M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0048%	1h	85,241.4	−0.002%	—	$107.1M	500x	as long as short
Coinbase International BTC-PERP-INTX	+0.0104%	1h	85,291.6	+0.057%	$117.1M	$5.46B	50x	as long as short
Deribit BTC-PERPETUAL	+0.0105%	1h	85,294.6	+0.060%	$862.3M	$1.64B	50x	as long as short
Reya BTCRUSDPERP	+0.0127%	1h	85,213.4	−0.035%	$6.6M	$147.6M	40x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0175% / S −0.0152%	1h	85,237.1	−0.007%	$13.0M	—	200x	as long as short
Kalshi KXBTCPERP	+0.0187%	8h	85,280	+0.043%	$11.7M	$742.2M	6.4x	as long as short
RISEx BTC/USDC	+0.0193%	1h	85,252.3	+0.011%	$8.7M	$42.9M	25x	as long as short
Hibachi BTC/USDT-P	+0.0248%	1h	85,303.7	+0.071%	$684K	$7.9M	30x	as long as short
Aftermath Perps BTCUSD	+0.0262%	1h	85,279	+0.042%	$79K	$229K	20x	as long as short