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Funding arb · Price arb /

BTC

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Alert: funding
Measured
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Checked every minute; it has to hold two checks in a row. Delivery to Telegram comes later, so for now alerts appear on the alerts page.

Alert: spread
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Checked every minute; it has to hold two checks in a row. Delivery to Telegram comes later, so for now alerts appear on the alerts page.

Funding you earn now, next payment 00:12 UTC+0.0032%/8h= +3.5% APRpaid last 24h −0.013%
Price spread now: Perpl against 01 Exchange+0.002%7-day average +0.020% · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Long on 01 ExchangeShort on Perpl
What this pair did over the last
the charts below follow
Funding, last 3 days (all we have)+0.154%+$15 on $10k
Price spread, last 7 days+0.101%+$10 · spread now +0.002%, 7d avg +0.020%
Together, before fees+0.254%+ Points / potential airdropPerpl: Active · farm board+$25 on $10k · with fees, hour by hour
The price spread sits at its 7-day average of +0.020%, so right now this pair is about funding alone: +$1 a day on $10k at the current rate.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
Long01 Exchange BTCUSD86,444.2−0.0032get 0.0004% / 1h41m 58s$361K$2.4M50x
ShortPerpl BTC86,446.30get 0.0000% / 43m20m 58s$457K$21.9M6.7x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Perpl 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

Funding earned
$6.72
Price spread: +0.002% → +0.020%
−$1.76
Slippage, 4 orders
no order book: not counted
Fee 01 Exchange: 3.5 bp × 2 orders
−$7
Fee Perpl: 6.9 bp × 2 orders
−$13.8
Net
−$15.84
Costs to cover
0.208%
Break-even
23.5 days
Slippage unknown: 01 Exchange: live order book, 2 min ago; Perpl: no order-book sample. Net counts fees only.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy 01 Exchange live order book, 2 min ago0.01 bp4.6 bp −$59.7 bp −$97doesn't fitdoesn't fit
Sell Perpl no order-book sample—————
Perpl: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

BTC on 56 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Phoenix BTC−0.0129%1h86,400−0.051%$2.2M$11.2M40xas long as short
Hotstuff BTC-PERP−0.0080%1h86,430−0.016%$9K$3K50xas long as short
Phemex BTCUSDT−0.0043%8h86,427−0.020%$153.7M$476.4M150xas long as short
01 Exchange BTCUSDlong−0.0032%1h86,444.2long leg$361K$2.4M50x
Perpl BTCshort0.0000%43m86,446.3+0.002%$457K$21.9M6.7x
Deribit BTC-PERPETUAL0.0000%1h86,456.8+0.015%$903.6M$1.51B50xas long as short
gTrade (Gains Network) BTC/USDL +0.0005% / S −0.0004%1h86,450.6+0.007%$36.9M—200xas long as short
Aster BTCUSDT+0.0021%8h86,433.2−0.013%$501.3M$1.14B200xas long as short
dYdX BTC-USD+0.0021%1h86,468.3+0.028%$16.9M$20.5M50xas long as short
Injective BTC/USDC PERP+0.0023%1h86,616+0.199%$333K$26.9M52xas long as short
Show all 56 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
KuCoin XBTUSDTM+0.0034%8h86,401.1−0.050%$831.1M$723.5M125xas long as short
Reya BTCRUSDPERP+0.0043%1h86,429.4−0.017%$6.7M$145.7M40xas long as short
BingX BTC-USDT+0.0048%8h86,442−0.003%—$1.58B—as long as short
RISEx BTC/USDC+0.0052%1h86,444.7+0.001%$8.3M$42.6M25xas long as short
Bitget BTCUSDT+0.0062%8h86,380.1−0.074%$2.97B$5.06B150xas long as short
MEXC BTC_USDT+0.0078%8h86,378.2−0.076%$5.13B$5.67B500xas long as short
Binance BTCUSDT+0.0079%8h86,416.7−0.032%$9.41B$24.41B150xas long as short
Aevo BTC-PERP+0.0080%1h86,410−0.040%$2.5M$1.6M20xas long as short
Lighter BTC+0.0096%1h86,445.6+0.002%$170.3M$983.6M50xas long as short
Lighter RH BTC+0.0096%1h86,450+0.007%$23.7M$148.9M50xas long as short
Popdex BTCUSDT+0.0096%1h86,429−0.018%$8.4M$52.1M100xas long as short
Katana Perps BTC-USD+0.0100%8h86,409−0.041%$202K$7.1M50xas long as short
Paradex BTC-USD-PERP+0.0100%8h86,465.3+0.024%$4.7M$8.5M50xas long as short
Nado BTC-PERP+0.0100%1h86,434.4−0.011%$22.0M$230.3M50xas long as short
Hyperliquid BTC+0.0100%1h86,510+0.076%$3.80B$5.05B40xas long as short
Pacifica BTC+0.0100%1h86,464.5+0.024%$40.8M$546.1M50xas long as short
Bybit BTCUSDT+0.0100%8h86,398.9−0.052%$5.26B$9.71B150xas long as short
OKX BTC-USDT-SWAP+0.0100%8h86,391.3−0.061%$2.57B$12.57B100xas long as short
Ondo Perps BTC-USD.P+0.0100%1h86,445+0.001%$3.9M$18.0M25xas long as short
Arcus BTC-USD+0.0100%1h86,464.9+0.024%$7.2M$95.7M40xas long as short
Gate BTC_USDT+0.0100%8h86,438.5−0.007%$5.83B$10.51B200xas long as short
Backpack BTC_USDC_PERP+0.0100%1h86,431−0.015%$37.4M$156.1M75xas long as short
Variational Omni BTC+0.0100%8h86,385.8−0.068%$158.2M$567.4M—as long as short
edgeX BTCUSDC+0.0100%4h86,391.4−0.061%$279.0M$951.4M100xas long as short
GRVT BTC_USDT_Perp+0.0100%8h86,413.6−0.035%$217.1M$167.8M50xas long as short
ApeX Omni BTCUSDT+0.0100%1h86,422.4−0.025%$141.5M$322.2M100xas long as short
StandX BTC-USD+0.0100%1h86,413.4−0.036%$30.7M$208.6M40xas long as short
Vest BTC-PERP+0.0100%1h86,478.6+0.040%—$11.8M50xas long as short
Polymarket Perps BTC-USD+0.0100%1h86,432−0.014%$11.1M$14.1M50xas long as short
Bullet BTC-USD+0.0100%1h86,434.2−0.012%$192K$3.3M20xas long as short
Orderly PERP_BTC_USDC+0.0100%8h86,429.5−0.017%$2.5M$8.9M100xas long as short
Bluefin BTC-PERP+0.0100%1h86,465.8+0.025%$144K$667K40xas long as short
Derive BTC-PERP+0.0100%1h86,459.1+0.017%$30.5M$62.5M15xas long as short
SunX BTC-USDT+0.0100%8h86,441.1−0.004%$3.4M$5.2M100xas long as short
SoDEX BTC-USD+0.0100%1h86,428−0.019%$60.4M$338.2M40xas long as short
HTX BTC-USDT+0.0100%8h86,425.1−0.022%$2.29B$964.6M200xas long as short
Bulk BTC-USD+0.0100%1h86,336.3−0.125%$571.6M$13.0M40xas long as short
Extended BTC-USD+0.0104%1h86,361.9−0.095%$45.9M$222.5M50xas long as short
Jupiter Perps WBTC-PERPL +0.0104% / S +0.0048%1h86,448.1+0.004%—$99.2M500xas long as short
Coinbase International BTC-PERP-INTX+0.0120%1h86,466.9+0.026%$132.5M$5.49B50xas long as short
Kraken Futures PF_XBTUSD+0.0121%1h86,453+0.010%$192.3M$944.8M100xas long as short
Hibachi BTC/USDT-P+0.0160%1h86,498.6+0.063%$712K$8.0M30xas long as short
Aftermath Perps BTCUSD+0.0164%1h86,438.1−0.007%$78K$217K20xas long as short
BloFin BTC-USDT+0.0199%8h86,461.6+0.020%$414.9M$651.0M150xas long as short
GMX BTC/USD [WBTC.b-USDC]L +0.0203% / S −0.0216%1h86,442.9−0.002%$14.5M—200xas long as short
Kalshi KXBTCPERP+0.0211%8h86,458+0.016%$9.9M$761.6M6.4xas long as short