BTC

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0117%/8h= +12.8% APRnext payment +$0.15 per $10,000 · paid last 24h +0.023%

Price spread now: Kraken Futures against 01 Exchange−0.047%7-day average −0.001% · 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−$28as in the Price arb table

costs, in and out, $10k−$230.233% of the position

Long on 01 Exchange Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.045%+$4 on $10k

Price spread, last 3 days (all we have)−0.008%−$1 · spread now −0.047%, 7d avg −0.001%

Together, before fees+0.036%+$4 on $10k · with fees, hour by hour

Funding pays, the price is against you. Kraken Futures is 0.046% cheaper against 01 Exchange than usual: you would sell low and buy high (spread −0.047% now, against its 7-day average of −0.001%). If the spread goes back, that is −$5 on $10k: about 32 hours of funding at the current rate (+$3 a day). At the pace of the last 3 days (+0.045% in total) that is about 3.4 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	01 Exchange BTCUSD	86,692.5	0	get 0.0000% / 1h	27m 20s	$364K	$2.4M	50x
Short	Kraken Futures PF_XBTUSD	86,651.4	0.0117	get 0.0015% / 1h	27m 20s	$188.7M	$931.8M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures 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 Kraken FuturesbpOrdersPrice spread, now −0.047%Rate

Funding earned: $24.47
Price spread: −0.047% → −0.001%: −$4.62
Slippage, 4 orders: −$6.29
Fee 01 Exchange: 3.5 bp × 2 orders: −$7
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$3.44
Costs to cover: 0.233%
Break-even: 8.0 days

Slippage from 01 Exchange: live order book, 2 min ago; Kraken Futures: live order book, 2 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, 2 min ago	0.01 bp	9.4 bp −$9	10.6 bp −$106	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 2 min ago	0.06 bp	5.1 bp −$5	5.1 bp −$51	6.6 bp −$656	9.0 bp −$4,485

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
Aftermath Perps BTCUSD	−0.0234%	1h	86,639.4	−0.061%	$85K	$188K	20x	as long as short
Perpl BTC	−0.0223%	43m	86,688.7	−0.004%	$427K	$24.8M	6.7x	as long as short
Phoenix BTC	−0.0103%	1h	86,583	−0.126%	$2.2M	$12.4M	40x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	86,653	−0.046%	$9K	$3K	50x	as long as short
dYdX BTC-USD	−0.0077%	1h	86,673.4	−0.022%	$17.6M	$20.5M	50x	as long as short
01 Exchange BTCUSDlong	0.0000%	1h	86,692.5	long leg	$364K	$2.4M	50x
Deribit BTC-PERPETUAL	0.0000%	1h	86,715.7	+0.027%	$935.3M	$1.44B	50x	as long as short
KuCoin XBTUSDTM	+0.0002%	8h	86,657.1	−0.041%	$844.3M	$704.7M	125x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0005% / S −0.0004%	1h	86,702.4	+0.011%	$36.9M	—	200x	as long as short
Aster BTCUSDT	+0.0008%	8h	86,656.9	−0.041%	$506.1M	$1.16B	200x	as long as short

Show all 56 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Reya BTCRUSDPERP	+0.0021%	1h	86,677.7	−0.017%	$6.7M	$144.4M	40x	as long as short
Phemex BTCUSDT	+0.0024%	8h	86,636.9	−0.064%	$149.9M	$471.4M	150x	as long as short
BingX BTC-USDT	+0.0025%	8h	86,684.9	−0.009%	—	$1.59B	—	as long as short
Bitget BTCUSDT	+0.0032%	8h	86,682.3	−0.012%	$2.95B	$5.07B	150x	as long as short
Injective BTC/USDC PERP	+0.0049%	1h	86,639	−0.062%	$315K	$26.8M	52x	as long as short
MEXC BTC_USDT	+0.0054%	8h	86,678.2	−0.016%	$5.18B	$5.68B	500x	as long as short
Binance BTCUSDT	+0.0055%	8h	86,679.2	−0.015%	$9.45B	$24.31B	150x	as long as short
Aevo BTC-PERP	+0.0056%	1h	86,679.2	−0.015%	$2.4M	$1.3M	20x	as long as short
RISEx BTC/USDC	+0.0063%	1h	86,676.1	−0.019%	$9.2M	$42.0M	25x	as long as short
Gate BTC_USDT	+0.0077%	8h	86,682.5	−0.012%	$5.86B	$10.64B	200x	as long as short
OKX BTC-USDT-SWAP	+0.0077%	8h	86,699.1	+0.008%	$2.56B	$12.72B	100x	as long as short
Bybit BTCUSDT	+0.0083%	8h	86,682.2	−0.012%	$5.27B	$9.67B	150x	as long as short
Variational Omni BTC	+0.0095%	8h	86,614.5	−0.090%	$160.3M	$564.8M	—	as long as short
Lighter BTC	+0.0096%	1h	86,681.2	−0.013%	$172.1M	$1.01B	50x	as long as short
Lighter RH BTC	+0.0096%	1h	86,683.3	−0.011%	$24.0M	$153.6M	50x	as long as short
Popdex BTCUSDT	+0.0096%	1h	86,668	−0.028%	$8.5M	$52.3M	100x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	86,662	−0.035%	$194K	$6.8M	50x	as long as short
Paradex BTC-USD-PERP	+0.0100%	8h	86,714.5	+0.025%	$4.8M	$8.2M	50x	as long as short
Nado BTC-PERP	+0.0100%	1h	86,668.7	−0.028%	$21.8M	$235.5M	50x	as long as short
Hyperliquid BTC	+0.0100%	1h	86,751	+0.067%	$3.82B	$5.13B	40x	as long as short
Pacifica BTC	+0.0100%	1h	86,697.6	+0.006%	$40.9M	$492.6M	50x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	86,664	−0.033%	$3.9M	$18.5M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	86,738.9	+0.054%	$7.4M	$93.6M	40x	as long as short
Bulk BTC-USD	+0.0100%	1h	86,577.9	−0.132%	$571.8M	$22.4M	40x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	86,632.7	−0.069%	$38.1M	$148.4M	75x	as long as short
edgeX BTCUSDC	+0.0100%	4h	86,587	−0.122%	$279.7M	$950.9M	100x	as long as short
GRVT BTC_USDT_Perp	+0.0100%	8h	86,622.1	−0.081%	$217.5M	$187.8M	50x	as long as short
ApeX Omni BTCUSDT	+0.0100%	1h	86,626.6	−0.076%	$141.4M	$322.8M	100x	as long as short
StandX BTC-USD	+0.0100%	1h	86,625.2	−0.078%	$30.8M	$205.2M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	86,724.6	+0.037%	—	$11.6M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	86,680	−0.014%	$11.1M	$13.7M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	86,682.2	−0.012%	$196K	$3.4M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	86,694.9	+0.003%	$2.5M	$8.5M	100x	as long as short
Bluefin BTC-PERP	+0.0100%	1h	86,708.4	+0.018%	$141K	$619K	40x	as long as short
Derive BTC-PERP	+0.0100%	1h	86,687.8	−0.005%	$30.0M	$61.6M	15x	as long as short
SunX BTC-USDT	+0.0100%	8h	86,666	−0.031%	$3.4M	$5.5M	100x	as long as short
SoDEX BTC-USD	+0.0100%	1h	86,682	−0.012%	$60.5M	$336.4M	40x	as long as short
HTX BTC-USDT	+0.0100%	8h	86,626.4	−0.076%	$2.30B	$957.0M	200x	as long as short
Extended BTC-USD	+0.0104%	1h	86,657.4	−0.041%	$46.4M	$227.9M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0048%	1h	86,698.1	+0.006%	—	$98.4M	500x	as long as short
Kraken Futures PF_XBTUSDshort	+0.0117%	1h	86,651.4	−0.047%	$188.7M	$931.8M	100x
Coinbase International BTC-PERP-INTX	+0.0120%	1h	86,664.1	−0.033%	$131.9M	$5.86B	50x	as long as short
Kalshi KXBTCPERP	+0.0126%	8h	86,660	−0.037%	$8.9M	$723.6M	6.4x	as long as short
BloFin BTC-USDT	+0.0174%	8h	86,596.5	−0.111%	$417.0M	$653.0M	150x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0179% / S −0.0189%	1h	86,691.8	−0.001%	$15.1M	—	200x	as long as short
Hibachi BTC/USDT-P	+0.0224%	1h	86,666.7	−0.030%	$614K	$7.1M	30x	as long as short