BTC

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0042%/8h= −4.6% APRnext payment −$0.05 per $10,000 · paid last 24h +0.037%

Price spread now: Deribit against Aevo+0.069%7-day average +0.066% · you sell dearer than you buy

Net, funding: paid 7d − costs−$25as in the Funding arb table

Net, price: spread back to 7d avg − costs−$27as in the Price arb table

costs, in and out, $10k−$270.271% of the position

Long on Aevo Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 7 days+0.019%+$2 on $10k

Price spread, last 4 days (all we have)−0.023%−$2 · spread now +0.069%, 7d avg +0.066%

Together, before fees−0.004%$0 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.066%, so right now this pair is about funding alone: −$1 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aevo BTC-PERP	85,471.5	0.0096	pay 0.0012% / 1h	26m 39s	$2.7M	$2.0M	20x
Short	Deribit BTC-PERPETUAL	85,530.2	0.0054	get 0.0007% / 1h	26m 39s	$884.6M	$1.59B	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit 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 DeribitbpOrdersPrice spread, now +0.069%Rate

Funding earned: −$8.8
Price spread: +0.069% → +0.066%: $0.3
Slippage, 4 orders: −$4.12
Fee Aevo: 8 bp × 2 orders: −$16
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$35.62
Costs to cover: 0.271%
Break-even: never at this rate

Slippage from Aevo: live order book, 3 min ago; Deribit: live order book, 3 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, 3 min ago	1.71 bp	10.1 bp −$10	10.2 bp −$102	16.0 bp −$1,602	doesn't fit
Sell Deribit live order book, 3 min ago	0.03 bp	3.5 bp −$4	4.5 bp −$45	7.7 bp −$772	15.0 bp −$7,516

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	−0.0140%	1h	85,526	+0.064%	$2.1M	$10.4M	40x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	85,511	+0.046%	$8K	$3K	50x	as long as short
KuCoin XBTUSDTM	−0.0041%	8h	85,470.9	−0.001%	$918.4M	$757.4M	125x	as long as short
BloFin BTC-USDT	−0.0020%	8h	85,495.6	+0.028%	$419.0M	$675.7M	150x	as long as short
01 Exchange BTCUSD	−0.0016%	1h	85,510.1	+0.045%	$365K	$2.3M	50x	as long as short
Aster BTCUSDT	0.0000%	8h	85,473.8	+0.003%	$514.7M	$1.10B	200x	as long as short
Perpl BTC	0.0000%	43m	85,516.7	+0.053%	$503K	$18.7M	6.7x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0004% / S −0.0004%	1h	85,503.3	+0.037%	$36.5M	—	200x	as long as short
Nado BTC-PERP	+0.0004%	1h	85,494.4	+0.027%	$24.6M	$223.2M	50x	as long as short
dYdX BTC-USD	+0.0039%	1h	85,528.6	+0.067%	$16.8M	$21.2M	50x	as long as short

Show all 56 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Injective BTC/USDC PERP	+0.0044%	1h	85,514	+0.050%	$339K	$26.9M	52x	as long as short
Deribit BTC-PERPETUALshort	+0.0054%	1h	85,530.2	+0.069%	$884.6M	$1.59B	50x
BingX BTC-USDC	+0.0065%	8h	85,467.9	−0.004%	—	$17.1M	—	as long as short
SoDEX BTC-USD	+0.0068%	1h	85,481	+0.011%	$59.9M	$335.9M	40x	as long as short
Phemex BTCUSDT	+0.0072%	8h	85,482.7	+0.013%	$148.3M	$495.5M	150x	as long as short
Bitget BTCUSDT	+0.0080%	8h	85,479	+0.009%	$2.95B	$5.11B	150x	as long as short
Lighter BTC	+0.0096%	1h	85,499	+0.032%	$172.0M	$1.02B	50x	as long as short
Lighter RH BTC	+0.0096%	1h	85,500.8	+0.034%	$24.0M	$148.6M	50x	as long as short
Popdex BTCUSDT	+0.0096%	1h	85,495	+0.027%	$8.4M	$55.0M	100x	as long as short
Aevo BTC-PERPlong	+0.0096%	1h	85,471.5	long leg	$2.7M	$2.0M	20x
Binance BTCUSDT	+0.0099%	8h	85,483	+0.013%	$9.44B	$24.41B	150x	as long as short
Reya BTCRUSDPERP	+0.0100%	1h	85,494.7	+0.027%	$6.6M	$147.1M	40x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	85,483	+0.013%	$210K	$8.3M	50x	as long as short
Paradex BTC-USD-PERP	+0.0100%	8h	85,539.4	+0.079%	$5.7M	$9.4M	50x	as long as short
Hyperliquid BTC	+0.0100%	1h	85,572	+0.118%	$3.79B	$5.02B	40x	as long as short
Pacifica BTC	+0.0100%	1h	85,521.5	+0.058%	$40.1M	$588.0M	50x	as long as short
Bybit BTCUSDT	+0.0100%	8h	85,482.9	+0.013%	$5.18B	$9.86B	150x	as long as short
OKX BTC-USDT-SWAP	+0.0100%	8h	85,497.5	+0.030%	$2.59B	$12.12B	100x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	85,474	+0.003%	$3.8M	$17.8M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	85,481.7	+0.012%	$4.7M	$100.4M	40x	as long as short
Bulk BTC-USD	+0.0100%	1h	85,517.4	+0.054%	$680.3M	$725.5M	40x	as long as short
Gate BTC_USDT	+0.0100%	8h	85,488.4	+0.020%	$5.53B	$10.81B	200x	as long as short
MEXC BTC_USDT	+0.0100%	8h	85,483	+0.013%	$5.07B	$5.66B	500x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	85,471	−0.001%	$36.2M	$179.0M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	85,584.9	+0.133%	$154.4M	$565.9M	—	as long as short
edgeX BTCUSDC	+0.0100%	4h	85,513.5	+0.049%	$279.3M	$928.2M	100x	as long as short
GRVT BTC_USDT_Perp	+0.0100%	8h	85,538.4	+0.078%	$215.0M	$168.8M	50x	as long as short
ApeX Omni BTCUSDT	+0.0100%	1h	85,591	+0.140%	$139.9M	$315.5M	100x	as long as short
StandX BTC-USD	+0.0100%	1h	85,549	+0.091%	$30.2M	$207.2M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	85,558.4	+0.102%	—	$11.2M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	85,495	+0.027%	$11.1M	$14.3M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	85,489.2	+0.021%	$198K	$3.3M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	85,482.7	+0.013%	$2.4M	$8.7M	100x	as long as short
Bluefin BTC-PERP	+0.0100%	1h	85,525.5	+0.063%	$207K	$738K	40x	as long as short
Derive BTC-PERP	+0.0100%	1h	85,477.4	+0.007%	$30.0M	$50.0M	15x	as long as short
SunX BTC-USDT	+0.0100%	8h	85,477.1	+0.007%	$2.9M	$6.1M	100x	as long as short
HTX BTC-USDT	+0.0100%	8h	85,476.1	+0.005%	$2.26B	$948.6M	200x	as long as short
Extended BTC-USD	+0.0104%	1h	85,453.8	−0.021%	$45.0M	$233.6M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0048%	1h	85,521.2	+0.058%	—	$107.3M	500x	as long as short
Coinbase International BTC-PERP-INTX	+0.0104%	1h	85,519	+0.056%	$117.4M	$5.25B	50x	as long as short
Kraken Futures PF_XBTUSD	+0.0135%	1h	85,506	+0.040%	$187.6M	$954.6M	100x	as long as short
RISEx BTC/USDC	+0.0174%	1h	85,520.1	+0.057%	$8.7M	$42.9M	25x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0176% / S −0.0149%	1h	85,504.4	+0.038%	$13.1M	—	200x	as long as short
Kalshi KXBTCPERP	+0.0197%	8h	85,527	+0.065%	$11.7M	$754.4M	6.4x	as long as short
Aftermath Perps BTCUSD	+0.0247%	1h	85,544.6	+0.086%	$78K	$221K	20x	as long as short
Hibachi BTC/USDT-P	+0.0248%	1h	85,568	+0.113%	$697K	$7.9M	30x	as long as short