BTC

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0091%/8h= −10.0% APRnext payment −$0.11 per $10,000 · paid last 24h +0.002%

Price spread now: Coinbase International against Aftermath Perps−0.022%51s7-day average +0.020% · 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—prices read too far apart to compare

costs, in and out, $10k−$290.293% of the position

Long on Aftermath Perps Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.019%−$2 on $10k

Price spread, last 4 days (all we have)−0.169%−$17 · spread now −0.022%, 7d avg +0.020%

Together, before fees−0.187%−$19 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and Coinbase International is 0.042% cheaper against Aftermath Perps than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of +0.020%). Swap the legs. The two prices were read 51 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aftermath Perps BTCUSD	85,796.9	0.0203	pay 0.0025% / 1h	11m 26s	$78K	$219K	20x
Short	Coinbase International BTC-PERP-INTX	85,777.9	0.0112	get 0.0014% / 1h	11m 26s	$126.5M	$5.10B	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against Aftermath Perps. 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 Aftermath PerpsbpFee Coinbase InternationalbpOrdersPrice spread, now −0.022%Rate

Funding earned: −$19.09
Price spread: −0.022% → +0.020%: −$4.18
Slippage, 4 orders: −$10.3
Fee Aftermath Perps: 4.5 bp × 2 orders: −$9
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$52.57
Costs to cover: 0.293%
Break-even: never at this rate

Slippage from Aftermath Perps: live order book, 53 min ago; Coinbase International: 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 Aftermath Perps live order book, 53 min ago	1.00 bp	9.4 bp −$9	23.1 bp −$231	doesn't fit	doesn't fit
Sell Coinbase International live order book, 3 min ago	0.01 bp	5.0 bp −$5	5.2 bp −$52	5.9 bp −$585	12.6 bp −$6,322

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
Bluefin BTC-PERP	−0.0618%	1h	85,862.9	+0.077%	$197K	$721K	40x	as long as short
Phoenix BTC	−0.0160%	1h	85,728	−0.080%	$2.2M	$10.3M	40x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	85,786	−0.013%	$8K	$3K	50x	as long as short
01 Exchange BTCUSD	−0.0040%	1h	85,806.8	+0.012%	$369K	$2.3M	50x	as long as short
BloFin BTC-USDT	−0.0032%	8h	85,743.9	−0.062%	$417.6M	$665.4M	150x	as long as short
dYdX BTC-USD	0.0000%	1h	85,797.2	0.000%	$16.8M	$21.2M	50x	as long as short
KuCoin XBTUSDTM	+0.0004%	8h	85,794.9	−0.002%	$920.1M	$751.4M	125x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0004% / S −0.0004%	1h	85,824.8	+0.033%	$36.7M	—	200x	as long as short
Nado BTC-PERP	+0.0013%	1h	85,803.4	+0.008%	$22.6M	$219.5M	50x	as long as short
Aster BTCUSDT	+0.0019%	8h	85,800	+0.004%	$516.9M	$1.10B	200x	as long as short

Show all 56 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX BTC-USDT	+0.0057%	8h	85,812.3	+0.018%	—	$1.53B	—	as long as short
Bitget BTCUSDT	+0.0072%	8h	85,808.5	+0.014%	$2.96B	$5.01B	150x	as long as short
Reya BTCRUSDPERP	+0.0073%	1h	85,801.8	+0.006%	$6.7M	$146.5M	40x	as long as short
Injective BTC/USDC PERP	+0.0079%	1h	85,807	+0.012%	$341K	$26.9M	52x	as long as short
Phemex BTCUSDT	+0.0080%	8h	85,735.3	−0.072%	$148.9M	$480.0M	150x	as long as short
Aevo BTC-PERP	+0.0080%	1h	85,739.2	−0.067%	$2.5M	$1.7M	20x	as long as short
MEXC BTC_USDT	+0.0087%	8h	85,808	+0.013%	$5.08B	$5.65B	500x	as long as short
Binance BTCUSDT	+0.0087%	8h	85,807.9	+0.013%	$9.36B	$23.87B	150x	as long as short
HTX BTC-USDT	+0.0090%	8h	85,743.7	−0.062%	$2.27B	$935.9M	200x	as long as short
SoDEX BTC-USD	+0.0093%	1h	85,744	−0.062%	$60.0M	$336.2M	40x	as long as short
Lighter BTC	+0.0096%	1h	85,795.1	−0.002%	$175.0M	$1.00B	50x	as long as short
Lighter RH BTC	+0.0096%	1h	85,779.3	−0.021%	$23.9M	$149.4M	50x	as long as short
Popdex BTCUSDT	+0.0096%	1h	85,803	+0.007%	$8.4M	$52.2M	100x	as long as short
Paradex BTC-USD-PERP	+0.0100%	8h	85,819.3	+0.026%	$3.8M	$8.3M	50x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	85,779	−0.021%	$198K	$7.8M	50x	as long as short
Hyperliquid BTC	+0.0100%	1h	85,887.6	+0.106%	$3.75B	$4.98B	40x	as long as short
Pacifica BTC	+0.0100%	1h	85,819.9	+0.027%	$40.2M	$577.3M	50x	as long as short
Bybit BTCUSDT	+0.0100%	8h	85,821.5	+0.029%	$5.34B	$9.57B	150x	as long as short
OKX BTC-USDT-SWAP	+0.0100%	8h	85,829.9	+0.038%	$2.58B	$12.12B	100x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	85,774	−0.027%	$3.9M	$18.0M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	85,783.5	−0.016%	$6.8M	$97.5M	40x	as long as short
Bulk BTC-USD	+0.0100%	1h	85,800.8	+0.004%	$635.6M	$478.1M	40x	as long as short
Gate BTC_USDT	+0.0100%	8h	85,819.1	+0.026%	$5.56B	$10.56B	200x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	85,740.3	−0.066%	$35.3M	$172.9M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	85,806.6	+0.011%	$157.6M	$550.1M	—	as long as short
edgeX BTCUSDC	+0.0100%	4h	85,749.7	−0.055%	$280.1M	$916.3M	100x	as long as short
GRVT BTC_USDT_Perp	+0.0100%	8h	85,776.3	−0.024%	$215.4M	$165.9M	50x	as long as short
ApeX Omni BTCUSDT	+0.0100%	1h	85,774.1	−0.027%	$140.3M	$314.6M	100x	as long as short
StandX BTC-USD	+0.0100%	1h	85,752.8	−0.051%	$30.3M	$208.9M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	85,843.8	+0.055%	—	$11.8M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	85,806	+0.011%	$11.1M	$14.1M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	85,810	+0.015%	$193K	$3.3M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	85,808.7	+0.014%	$2.4M	$8.8M	100x	as long as short
Derive BTC-PERP	+0.0100%	1h	85,740.7	−0.065%	$30.0M	$50.9M	15x	as long as short
SunX BTC-USDT	+0.0100%	8h	85,735.2	−0.072%	$2.9M	$6.1M	100x	as long as short
Extended BTC-USD	+0.0104%	1h	85,768.5	−0.033%	$44.2M	$226.7M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0056%	1h	85,759.1	−0.044%	—	$105.9M	500x	as long as short
Coinbase International BTC-PERP-INTXshort	+0.0112%	1h	85,777.9	−0.022%	$126.5M	$5.10B	50x
RISEx BTC/USDC	+0.0120%	1h	85,833.1	+0.042%	$8.4M	$42.2M	25x	as long as short
Deribit BTC-PERPETUAL	+0.0126%	1h	85,785.1	−0.014%	$891.6M	$1.53B	50x	as long as short
Kraken Futures PF_XBTUSD	+0.0138%	1h	85,766.7	−0.035%	$189.3M	$952.5M	100x	as long as short
Hibachi BTC/USDT-P	+0.0192%	1h	85,792	−0.006%	$704K	$7.8M	30x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0202% / S −0.0178%	1h	85,818.7	+0.025%	$13.6M	—	200x	as long as short
Aftermath Perps BTCUSDlong	+0.0203%	1h	85,796.9	long leg	$78K	$219K	20x
Kalshi KXBTCPERP	+0.0219%	8h	85,783	−0.016%	$10.6M	$758.1M	6.4x	as long as short
Perpl BTC	+0.0447%	43m	85,801.9	+0.006%	$503K	$19.3M	6.7x	as long as short