BTC

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0004%/8h= +0.4% APRnext payment +$0.00 per $10,000 · paid last 24h −0.158%

Price spread now: Bluefin against Aevo+0.054%7-day average −0.001% · you sell dearer than you buy

Net, funding: paid 7d − costs−$58as in the Funding arb table

Net, price: spread back to 7d avg − costs−$26as in the Price arb table

costs, in and out, $10k−$310.315% of the position

Long on Aevo Short on Bluefin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.267%−$27 on $10k

Price spread, last 4 days (all we have)−0.054%−$5 · spread now +0.054%, 7d avg −0.001%

Together, before fees−0.320%−$32 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Bluefin is 0.055% dearer against Aevo than usual: you sell high and buy low, +$6 on $10k if it goes back to its 7-day average of −0.001%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aevo BTC-PERP	85,482.1	0.0096	pay 0.0012% / 1h	2m 08s	$2.4M	$6.7M	20x
Short	Bluefin BTC-PERP	85,528.6	0.0100	get 0.0013% / 1h	2m 08s	$194K	$795K	40x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bluefin against Aevo. 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 AevobpFee BluefinbpOrdersPrice spread, now +0.054%Rate

Funding earned: $0.84
Price spread: +0.054% → −0.001%: $5.54
Slippage, 4 orders: −$8.49
Fee Aevo: 8 bp × 2 orders: −$16
Fee Bluefin: 3.5 bp × 2 orders: −$7
Net: −$25.11
Costs to cover: 0.315%
Break-even: 216.3 days

Slippage from Aevo: live order book, 2 min ago; Bluefin: live order book, 47 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 Aevo live order book, 2 min ago	1.25 bp	10.3 bp −$10	11.2 bp −$112	13.9 bp −$1,393	doesn't fit
Sell Bluefin live order book, 47 min ago	1.33 bp	5.4 bp −$5	9.9 bp −$99	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	−0.0111%	1h	85,577	+0.111%	$2.1M	$10.4M	40x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	85,524	+0.049%	$8K	$3K	50x	as long as short
KuCoin XBTUSDTM	−0.0051%	8h	85,480.2	−0.002%	$929.0M	$772.0M	125x	as long as short
BloFin BTC-USDT	−0.0023%	8h	85,490.3	+0.010%	$417.7M	$683.9M	150x	as long as short
Aster BTCUSDT	−0.0007%	8h	85,481.4	−0.001%	$514.1M	$1.09B	200x	as long as short
01 Exchange BTCUSD	0.0000%	1h	85,498.4	+0.019%	$354K	$2.4M	50x	as long as short
Perpl BTC	0.0000%	43m	85,490.7	+0.010%	$527K	$18.3M	6.7x	as long as short
dYdX BTC-USD	+0.0003%	1h	85,489.8	+0.009%	$16.8M	$21.4M	50x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0004% / S −0.0004%	1h	85,493.7	+0.014%	$36.5M	—	200x	as long as short
Injective BTC/USDC PERP	+0.0023%	1h	85,514	+0.037%	$339K	$26.8M	52x	as long as short

Show all 56 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Deribit BTC-PERPETUAL	+0.0035%	1h	85,524.2	+0.049%	$869.0M	$1.62B	50x	as long as short
Nado BTC-PERP	+0.0042%	1h	85,480.1	−0.002%	$24.7M	$222.6M	50x	as long as short
Kraken Futures PF_XBTUSD	+0.0056%	1h	85,505.6	+0.027%	$188.3M	$954.3M	100x	as long as short
BingX BTC-USDC	+0.0069%	8h	85,466.4	−0.018%	—	$17.5M	—	as long as short
Phemex BTCUSDT	+0.0083%	8h	85,493.3	+0.013%	$149.2M	$507.2M	150x	as long as short
Bitget BTCUSDT	+0.0087%	8h	85,490.5	+0.010%	$2.96B	$5.18B	150x	as long as short
Lighter BTC	+0.0096%	1h	85,500.2	+0.021%	$171.3M	$1.03B	50x	as long as short
Lighter RH BTC	+0.0096%	1h	85,499.6	+0.020%	$23.7M	$149.4M	50x	as long as short
Popdex BTCUSDT	+0.0096%	1h	85,491	+0.010%	$8.4M	$55.9M	100x	as long as short
Aevo BTC-PERPlong	+0.0096%	1h	85,482.1	long leg	$2.4M	$6.7M	20x
Coinbase International BTC-PERP-INTX	+0.0096%	1h	85,531	+0.057%	$117.1M	$5.46B	50x	as long as short
MEXC BTC_USDT	+0.0097%	8h	85,488.6	+0.008%	$5.01B	$5.77B	500x	as long as short
Binance BTCUSDT	+0.0097%	8h	85,491	+0.010%	$9.45B	$24.93B	150x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	85,461	−0.025%	$236K	$8.6M	50x	as long as short
Paradex BTC-USD-PERP	+0.0100%	8h	85,531	+0.057%	$5.8M	$9.6M	50x	as long as short
Hyperliquid BTC	+0.0100%	1h	85,570	+0.103%	$3.76B	$5.09B	40x	as long as short
Pacifica BTC	+0.0100%	1h	85,514.4	+0.038%	$40.0M	$598.7M	50x	as long as short
Bybit BTCUSDT	+0.0100%	8h	85,493	+0.013%	$5.15B	$9.98B	150x	as long as short
OKX BTC-USDT-SWAP	+0.0100%	8h	85,490	+0.009%	$2.59B	$12.26B	100x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	85,485	+0.003%	$3.8M	$17.4M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	85,490.4	+0.010%	$4.6M	$98.8M	40x	as long as short
Gate BTC_USDT	+0.0100%	8h	85,489.4	+0.008%	$5.52B	$11.11B	200x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	85,479.6	−0.003%	$36.6M	$179.0M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	85,535.9	+0.063%	$155.0M	$560.6M	—	as long as short
edgeX BTCUSDC	+0.0100%	4h	85,528.5	+0.054%	$280.1M	$953.5M	100x	as long as short
GRVT BTC_USDT_Perp	+0.0100%	8h	85,535.3	+0.062%	$214.9M	$167.4M	50x	as long as short
ApeX Omni BTCUSDT	+0.0100%	1h	85,528	+0.054%	$139.8M	$314.5M	100x	as long as short
StandX BTC-USD	+0.0100%	1h	85,537.1	+0.064%	$30.2M	$207.2M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	85,551.9	+0.082%	—	$10.9M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	85,487	+0.006%	$11.0M	$14.5M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	85,488	+0.007%	$204K	$3.3M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	85,491	+0.010%	$2.6M	$9.8M	100x	as long as short
Bluefin BTC-PERPshort	+0.0100%	1h	85,528.6	+0.054%	$194K	$795K	40x
Derive BTC-PERP	+0.0100%	1h	85,469	−0.015%	$30.0M	$47.9M	15x	as long as short
SunX BTC-USDT	+0.0100%	8h	85,467.2	−0.017%	$2.9M	$6.1M	100x	as long as short
SoDEX BTC-USD	+0.0100%	1h	85,489	+0.008%	$59.8M	$336.4M	40x	as long as short
HTX BTC-USDT	+0.0100%	8h	85,481.1	−0.001%	$2.26B	$941.9M	200x	as long as short
Bulk BTC-USD	+0.0100%	1h	85,476.9	−0.006%	$684.3M	$499.2M	40x	as long as short
Extended BTC-USD	+0.0104%	1h	85,461.1	−0.025%	$44.5M	$240.5M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0048%	1h	85,509.5	+0.032%	—	$106.9M	500x	as long as short
Reya BTCRUSDPERP	+0.0121%	1h	85,484.4	+0.003%	$6.6M	$147.6M	40x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0176% / S −0.0151%	1h	85,494.4	+0.014%	$13.0M	—	200x	as long as short
Kalshi KXBTCPERP	+0.0211%	8h	85,517	+0.041%	$11.5M	$743.9M	6.4x	as long as short
Aftermath Perps BTCUSD	+0.0234%	1h	85,518.7	+0.043%	$79K	$228K	20x	as long as short
Hibachi BTC/USDT-P	+0.0240%	1h	85,527.9	+0.054%	$692K	$8.0M	30x	as long as short
RISEx BTC/USDC	+0.0257%	1h	85,512.8	+0.036%	$8.8M	$43.2M	25x	as long as short