BTC

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0156%/8h= +17.1% APRnext payment +$0.20 per $10,000 · paid last 24h +0.031%

Price spread now: Bulk against 01 Exchange−0.027%7-day average +0.005% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$19as in the Price arb table

costs, in and out, $10k−$160.160% of the position

Long on 01 Exchange Short on Bulk

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.098%+$10 on $10k

Price spread, last 7 days+0.015%+$2 · spread now −0.027%, 7d avg +0.005%

Together, before fees+0.113%+$11 on $10k · with fees, hour by hour

Funding pays, the price is against you. Bulk is 0.032% cheaper against 01 Exchange than usual: you would sell low and buy high (spread −0.027% now, against its 7-day average of +0.005%). If the spread goes back, that is −$3 on $10k: about 17 hours of funding at the current rate (+$5 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	01 Exchange BTCUSD	85,586.2	−0.0056	get 0.0007% / 1h	43m 24s	$368K	$2.3M	50x
Short	Bulk BTC-USD	85,562.7	0.0100	get 0.0013% / 1h	43m 24s	$616.1M	$358.9M	40x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bulk 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 BulkbpOrdersPrice spread, now −0.027%Rate

Funding earned: $32.76
Price spread: −0.027% → +0.005%: −$3.24
Slippage, 4 orders: −$1.99
Fee 01 Exchange: 3.5 bp × 2 orders: −$7
Fee Bulk: 3.5 bp × 2 orders: −$7
Net: $13.53
Costs to cover: 0.160%
Break-even: 4.1 days

Slippage from 01 Exchange: live order book, 1 min ago; Bulk: live order book, 1 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, 1 min ago	0.01 bp	4.9 bp −$5	9.6 bp −$96	doesn't fit	doesn't fit
Sell Bulk live order book, 1 min ago	0.01 bp	3.5 bp −$4	3.5 bp −$35	3.5 bp −$351	3.8 bp −$1,890

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	−0.0160%	1h	85,485	−0.118%	$2.2M	$10.3M	40x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	85,574	−0.014%	$8K	$3K	50x	as long as short
01 Exchange BTCUSDlong	−0.0056%	1h	85,586.2	long leg	$368K	$2.3M	50x
BloFin BTC-USDT	−0.0030%	8h	85,579.2	−0.008%	$416.4M	$660.4M	150x	as long as short
dYdX BTC-USD	0.0000%	1h	85,596.8	+0.012%	$16.7M	$20.9M	50x	as long as short
Nado BTC-PERP	+0.0003%	1h	85,585.6	−0.001%	$22.8M	$221.7M	50x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0004% / S −0.0004%	1h	85,609.1	+0.027%	$36.7M	—	200x	as long as short
KuCoin XBTUSDTM	+0.0014%	8h	85,573.8	−0.015%	$906.5M	$749.4M	125x	as long as short
Aster BTCUSDT	+0.0020%	8h	85,600.8	+0.017%	$515.8M	$1.11B	200x	as long as short
BingX BTC-USDC	+0.0053%	8h	85,589.1	+0.003%	—	$17.0M	—	as long as short

Show all 56 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Reya BTCRUSDPERP	+0.0066%	1h	85,580.1	−0.007%	$6.7M	$146.4M	40x	as long as short
Bitget BTCUSDT	+0.0067%	8h	85,630.3	+0.052%	$2.95B	$5.02B	150x	as long as short
HTX BTC-USDT	+0.0073%	8h	85,548.6	−0.044%	$2.27B	$931.9M	200x	as long as short
Injective BTC/USDC PERP	+0.0079%	1h	85,617	+0.036%	$340K	$26.9M	52x	as long as short
Aevo BTC-PERP	+0.0080%	1h	85,623.4	+0.043%	$2.5M	$1.7M	20x	as long as short
Phemex BTCUSDT	+0.0083%	8h	85,556.9	−0.034%	$148.2M	$478.5M	150x	as long as short
SunX BTC-USDT	+0.0086%	8h	85,577.7	−0.010%	$2.9M	$6.1M	100x	as long as short
MEXC BTC_USDT	+0.0086%	8h	85,598	+0.014%	$5.03B	$5.60B	500x	as long as short
Binance BTCUSDT	+0.0087%	8h	85,598.1	+0.014%	$9.34B	$23.88B	150x	as long as short
Lighter BTC	+0.0096%	1h	85,622.7	+0.043%	$169.6M	$986.7M	50x	as long as short
Lighter RH BTC	+0.0096%	1h	85,622.7	+0.043%	$23.9M	$147.8M	50x	as long as short
Popdex BTCUSDT	+0.0096%	1h	85,599	+0.015%	$8.4M	$51.9M	100x	as long as short
Paradex BTC-USD-PERP	+0.0099%	8h	85,651.5	+0.076%	$3.8M	$8.3M	50x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	85,569	−0.020%	$205K	$7.7M	50x	as long as short
Hyperliquid BTC	+0.0100%	1h	85,657	+0.083%	$3.78B	$4.94B	40x	as long as short
Pacifica BTC	+0.0100%	1h	85,645	+0.069%	$40.2M	$571.1M	50x	as long as short
Bybit BTCUSDT	+0.0100%	8h	85,614.5	+0.033%	$5.34B	$9.58B	150x	as long as short
OKX BTC-USDT-SWAP	+0.0100%	8h	85,640.8	+0.064%	$2.56B	$12.12B	100x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	85,587	+0.001%	$3.9M	$17.9M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	85,564.6	−0.025%	$7.3M	$97.2M	40x	as long as short
Bulk BTC-USDshort	+0.0100%	1h	85,562.7	−0.027%	$616.1M	$358.9M	40x
Gate BTC_USDT	+0.0100%	8h	85,609.2	+0.027%	$5.55B	$10.45B	200x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	85,561.1	−0.029%	$35.1M	$171.6M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	85,485	−0.118%	$154.0M	$550.0M	—	as long as short
edgeX BTCUSDC	+0.0100%	4h	85,511.8	−0.087%	$278.9M	$932.4M	100x	as long as short
GRVT BTC_USDT_Perp	+0.0100%	8h	85,432.8	−0.179%	$214.5M	$161.8M	50x	as long as short
ApeX Omni BTCUSDT	+0.0100%	1h	85,578.6	−0.009%	$140.0M	$316.4M	100x	as long as short
StandX BTC-USD	+0.0100%	1h	85,570.9	−0.018%	$30.3M	$211.2M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	85,641.2	+0.064%	—	$11.8M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	85,584	−0.003%	$11.0M	$14.1M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	85,600.3	+0.016%	$189K	$3.3M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	85,609.5	+0.027%	$2.4M	$8.8M	100x	as long as short
Bluefin BTC-PERP	+0.0100%	1h	85,653.4	+0.079%	$197K	$722K	40x	as long as short
Derive BTC-PERP	+0.0100%	1h	85,626.8	+0.047%	$30.0M	$52.5M	15x	as long as short
SoDEX BTC-USD	+0.0100%	1h	85,634	+0.056%	$59.9M	$336.2M	40x	as long as short
Extended BTC-USD	+0.0104%	1h	85,611.8	+0.030%	$44.1M	$227.1M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0056%	1h	85,578.5	−0.009%	—	$106.1M	500x	as long as short
Coinbase International BTC-PERP-INTX	+0.0112%	1h	85,600	+0.016%	$130.8M	$5.08B	50x	as long as short
Deribit BTC-PERPETUAL	+0.0118%	1h	85,665.3	+0.092%	$893.4M	$1.52B	50x	as long as short
RISEx BTC/USDC	+0.0120%	1h	85,616.6	+0.036%	$8.3M	$42.2M	25x	as long as short
Kraken Futures PF_XBTUSD	+0.0138%	1h	85,645	+0.069%	$187.6M	$948.8M	100x	as long as short
Aftermath Perps BTCUSD	+0.0195%	1h	85,567.8	−0.021%	$78K	$219K	20x	as long as short
Hibachi BTC/USDT-P	+0.0200%	1h	85,583.5	−0.003%	$697K	$7.9M	30x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0203% / S −0.0180%	1h	85,604.8	+0.022%	$13.6M	—	200x	as long as short
Kalshi KXBTCPERP	+0.0211%	8h	85,608	+0.025%	$10.5M	$760.3M	6.4x	as long as short
Perpl BTC	+0.0447%	43m	85,626.4	+0.047%	$524K	$19.5M	6.7x	as long as short