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 +0.037%

Price spread now: Bullet against 01 Exchange−0.004%7-day average +0.010% · 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−$20as in the Price arb table

costs, in and out, $10k−$190.187% of the position

Long on 01 Exchange Short on Bullet

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.092%+$9 on $10k

Price spread, last 7 days+0.009%+$1 · spread now −0.004%, 7d avg +0.010%

Together, before fees+0.101%+$10 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.010%, so right now this pair is about funding alone: +$3 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	01 Exchange BTCUSD	85,243.2	0	get 0.0000% / 1h	38m 51s	$353K	$2.4M	50x
Short	Bullet BTC-USD	85,240	0.0100	get 0.0013% / 1h	38m 51s	$200K	$3.3M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bullet 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 BulletbpOrdersPrice spread, now −0.004%Rate

Funding earned: $21
Price spread: −0.004% → +0.010%: −$1.38
Slippage, 4 orders: −$3.71
Fee 01 Exchange: 3.5 bp × 2 orders: −$7
Fee Bullet: 4 bp × 2 orders: −$8
Net: $0.91
Costs to cover: 0.187%
Break-even: 6.7 days

Slippage from 01 Exchange: live order book, just now; Bullet: live order book, just now.

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, just now	0.01 bp	5.3 bp −$5	9.9 bp −$99	doesn't fit	doesn't fit
Sell Bullet live order book, just now	0.29 bp	4.3 bp −$4	8.6 bp −$86	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	85,287	+0.051%	$2.1M	$10.4M	40x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	85,251	+0.009%	$8K	$3K	50x	as long as short
KuCoin XBTUSDTM	−0.0047%	8h	85,236.7	−0.008%	$927.0M	$773.7M	125x	as long as short
BloFin BTC-USDT	−0.0027%	8h	85,238.9	−0.005%	$421.0M	$682.0M	150x	as long as short
Aster BTCUSDT	−0.0012%	8h	85,240.6	−0.003%	$512.2M	$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	85,243.2	long leg	$353K	$2.4M	50x
Perpl BTC	0.0000%	43m	85,241.6	−0.002%	$532K	$18.3M	6.7x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0004% / S −0.0004%	1h	85,249.1	+0.007%	$36.4M	—	200x	as long as short
Nado BTC-PERP	+0.0046%	1h	85,219.2	−0.028%	$24.4M	$222.6M	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	+0.063%	$139.5M	$314.5M	100x	as long as short
Injective BTC/USDC PERP	+0.0057%	1h	85,247	+0.004%	$338K	$26.8M	52x	as long as short
BingX BTC-USDC	+0.0070%	8h	85,221	−0.026%	—	$17.5M	—	as long as short
Bitget BTCUSDT	+0.0088%	8h	85,236.6	−0.008%	$2.95B	$5.18B	150x	as long as short
Kraken Futures PF_XBTUSD	+0.0089%	1h	85,270.1	+0.032%	$186.0M	$956.5M	100x	as long as short
MEXC BTC_USDT	+0.0092%	8h	85,243.5	0.000%	$5.01B	$5.74B	500x	as long as short
Binance BTCUSDT	+0.0093%	8h	85,241.7	−0.002%	$9.42B	$24.97B	150x	as long as short
SoDEX BTC-USD	+0.0096%	1h	85,250	+0.008%	$59.7M	$336.9M	40x	as long as short
Lighter BTC	+0.0096%	1h	85,245	+0.002%	$169.9M	$1.02B	50x	as long as short
Lighter RH BTC	+0.0096%	1h	85,262.2	+0.022%	$23.5M	$147.9M	50x	as long as short
Popdex BTCUSDT	+0.0096%	1h	85,232	−0.013%	$8.4M	$56.1M	100x	as long as short
Aevo BTC-PERP	+0.0096%	1h	85,230.1	−0.015%	$2.4M	$6.7M	20x	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	85,288.2	+0.053%	$5.8M	$9.6M	50x	as long as short
Hyperliquid BTC	+0.0100%	1h	85,321	+0.091%	$3.74B	$5.08B	40x	as long as short
Pacifica BTC	+0.0100%	1h	85,261.2	+0.021%	$40.2M	$604.4M	50x	as long as short
Bybit BTCUSDT	+0.0100%	8h	85,237.1	−0.007%	$5.14B	$9.99B	150x	as long as short
OKX BTC-USDT-SWAP	+0.0100%	8h	85,242.8	0.000%	$2.59B	$12.25B	100x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	85,223	−0.024%	$3.8M	$17.1M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	85,230.9	−0.014%	$4.9M	$99.3M	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	85,246.2	+0.004%	$5.50B	$10.99B	200x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	85,240.1	−0.004%	$36.7M	$178.2M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	85,253.8	+0.012%	$154.6M	$558.4M	—	as long as short
edgeX BTCUSDC	+0.0100%	4h	85,273.1	+0.035%	$279.4M	$949.7M	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	85,254.7	+0.014%	$30.0M	$204.2M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	85,298.4	+0.065%	—	$10.9M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	85,237	−0.007%	$11.0M	$14.5M	50x	as long as short
Bullet BTC-USDshort	+0.0100%	1h	85,240	−0.004%	$200K	$3.3M	20x
Orderly PERP_BTC_USDC	+0.0100%	8h	85,238.1	−0.006%	$2.6M	$9.9M	100x	as long as short
Bluefin BTC-PERP	+0.0100%	1h	85,281.7	+0.045%	$193K	$795K	40x	as long as short
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	85,222	−0.025%	$2.9M	$6.1M	100x	as long as short
HTX BTC-USDT	+0.0100%	8h	85,250.8	+0.009%	$2.25B	$970.3M	200x	as long as short
Phemex BTCUSDT	+0.0100%	8h	85,272.4	+0.034%	$150.8M	$509.0M	150x	as long as short
Deribit BTC-PERPETUAL	+0.0102%	1h	85,290	+0.055%	$868.8M	$1.64B	50x	as long as short
Extended BTC-USD	+0.0104%	1h	85,222.4	−0.024%	$44.8M	$240.8M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0048%	1h	85,242.2	−0.001%	—	$107.1M	500x	as long as short
Coinbase International BTC-PERP-INTX	+0.0104%	1h	85,297	+0.063%	$117.2M	$5.46B	50x	as long as short
Reya BTCRUSDPERP	+0.0126%	1h	85,232.1	−0.013%	$6.6M	$147.6M	40x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0175% / S −0.0152%	1h	85,266.1	+0.027%	$13.0M	—	200x	as long as short
Kalshi KXBTCPERP	+0.0189%	8h	85,271	+0.033%	$11.7M	$742.5M	6.4x	as long as short
RISEx BTC/USDC	+0.0193%	1h	85,259.6	+0.019%	$8.7M	$43.1M	25x	as long as short
Hibachi BTC/USDT-P	+0.0240%	1h	85,279.9	+0.043%	$684K	$7.9M	30x	as long as short
Aftermath Perps BTCUSD	+0.0257%	1h	85,311.9	+0.081%	$79K	$229K	20x	as long as short