Funding you earn now, next payment 08:00 UTC−0.0033%/8h= −3.6% APRnext payment −$0.04 per $10,000 · paid last 24h −0.008%
Price spread now: Injective against Arcus−0.024%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−$12as in the Price arb table
costs, in and out, $10k−$90.094% of the position
Funding, last 4 days (all we have)−0.094%−$9 on $10k
+Price spread, last 4 days (all we have)−0.015%−$2 · spread now −0.024%, 7d avg +0.001%
=Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Injective is 0.025% cheaper against Arcus than usual: you would sell low and buy high (−$2 if the spread goes back to its 7-day average of +0.001%). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Arcus BTC-USD | 85,201.4 | 0.0100 | pay 0.0013% / 1h | 20m 12s | $4.7M | $97.4M | 40x |
| Short | Injective BTC/USDC PERP | 85,181 | 0.0067 | get 0.0008% / 1h | 20m 12s | $302K | $25.3M | 52x |
Arcus BTC-USD
Injective BTC/USDC PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Injective against Arcus. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$6.96
- Price spread: −0.024% → +0.001%
- −$2.47
- Slippage, 4 orders
- −$4.88
- Fee Arcus: 2.25 bp × 2 orders
- −$4.5
- Fee Injective: 0.01 bp × 2 orders
- −$0.02
- Net
- −$18.82
- Costs to cover
- 0.094%
- Break-even
- never at this rate
Slippage from Arcus: live order book, 4 min ago; Injective: live order book, 4 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 Arcus live order book, 4 min ago | 0.01 bp | 2.3 bp −$2 | 2.4 bp −$24 | 3.4 bp −$338 | doesn't fit |
| Sell Injective live order book, 4 min ago | 2.06 bp | 2.3 bp −$2 | 10.3 bp −$103 | 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 | |
|---|---|---|---|---|---|---|---|---|
| Hotstuff BTC-PERP | −0.0080% | 1h | 85,160 | −0.049% | $8K | $3K | 50x | as long as short |
| Phoenix BTC | −0.0034% | 1h | 85,189 | −0.015% | $2.3M | $10.8M | 40x | as long as short |
| BloFin BTC-USDT | −0.0020% | 8h | 85,150.1 | −0.060% | $421.9M | $685.2M | 150x | as long as short |
| KuCoin XBTUSDTM | −0.0016% | 8h | 85,191.5 | −0.012% | $927.7M | $777.8M | 125x | as long as short |
| Aster BTCUSDT | 0.0000% | 8h | 85,221.4 | +0.023% | $509.2M | $1.09B | 200x | as long as short |
| 01 Exchange BTCUSD | 0.0000% | 1h | 85,208.9 | +0.009% | $343K | $2.3M | 50x | as long as short |
| gTrade (Gains Network) BTC/USD | L +0.0004% / S −0.0004% | 1h | 85,226.6 | +0.030% | $36.4M | — | 200x | as long as short |
| dYdX BTC-USD | +0.0007% | 1h | 85,179.3 | −0.026% | $16.7M | $21.0M | 50x | as long as short |
| Kraken Futures PF_XBTUSD | +0.0026% | 1h | 85,226.5 | +0.029% | $185.7M | $955.6M | 100x | as long as short |
| ApeX Omni BTCUSDT | +0.0058% | 1h | 85,166 | −0.042% | $139.5M | $312.5M | 100x | as long as short |
Hotstuff BTC-PERP
Phoenix BTC
BloFin BTC-USDT
KuCoin XBTUSDTM
Aster BTCUSDT
01 Exchange BTCUSD
gTrade (Gains Network) BTC/USD
dYdX BTC-USD
Kraken Futures PF_XBTUSD
ApeX Omni BTCUSDTShow all 56 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| BingX BTC-USDC | +0.0064% | 8h | 85,200.9 | −0.001% | — | $17.4M | — | as long as short |
| Injective BTC/USDC PERPshort | +0.0067% | 1h | 85,181 | −0.024% | $302K | $25.3M | 52x | |
| Bybit BTCUSDT | +0.0080% | 8h | 85,213 | +0.014% | $5.11B | $10.03B | 150x | as long as short |
| Nado BTC-PERP | +0.0086% | 1h | 85,173.5 | −0.033% | $24.0M | $220.8M | 50x | as long as short |
| Lighter BTC | +0.0096% | 1h | 85,232.1 | +0.036% | $168.5M | $1.02B | 50x | as long as short |
| Lighter RH BTC | +0.0096% | 1h | 85,230.9 | +0.035% | $23.6M | $148.7M | 50x | as long as short |
| Popdex BTCUSDT | +0.0096% | 1h | 85,213 | +0.014% | $8.4M | $57.7M | 100x | as long as short |
| Bitget BTCUSDT | +0.0096% | 8h | 85,220.9 | +0.023% | $2.97B | $5.21B | 150x | as long as short |
| Aevo BTC-PERP | +0.0096% | 1h | 85,199.2 | −0.003% | $2.4M | $6.7M | 20x | as long as short |
| Katana Perps BTC-USD | +0.0100% | 8h | 85,172 | −0.035% | $268K | $8.7M | 50x | as long as short |
| Paradex BTC-USD-PERP | +0.0100% | 8h | 85,213.9 | +0.015% | $5.8M | $9.6M | 50x | as long as short |
| Hyperliquid BTC | +0.0100% | 1h | 85,284 | +0.097% | $3.75B | $5.08B | 40x | as long as short |
| Pacifica BTC | +0.0100% | 1h | 85,197.2 | −0.005% | $40.3M | $606.1M | 50x | as long as short |
| Binance BTCUSDT | +0.0100% | 8h | 85,223.5 | +0.026% | $9.38B | $25.15B | 150x | as long as short |
| OKX BTC-USDT-SWAP | +0.0100% | 8h | 85,225.1 | +0.028% | $2.60B | $12.27B | 100x | as long as short |
| Ondo Perps BTC-USD.P | +0.0100% | 1h | 85,187 | −0.017% | $3.8M | $17.3M | 25x | as long as short |
| Arcus BTC-USDlong | +0.0100% | 1h | 85,201.4 | long leg | $4.7M | $97.4M | 40x | |
| Bulk BTC-USD | +0.0100% | 1h | 85,294.4 | +0.109% | $693.5M | $241.4M | 40x | as long as short |
| Gate BTC_USDT | +0.0100% | 8h | 85,206.5 | +0.006% | $5.48B | $11.13B | 200x | as long as short |
| MEXC BTC_USDT | +0.0100% | 8h | 85,224 | +0.027% | $5.03B | $5.76B | 500x | as long as short |
| Backpack BTC_USDC_PERP | +0.0100% | 1h | 85,216.9 | +0.018% | $36.7M | $188.6M | 75x | as long as short |
| Variational Omni BTC | +0.0100% | 8h | 85,136.5 | −0.076% | $156.2M | $549.1M | — | as long as short |
| edgeX BTCUSDC | +0.0100% | 4h | 85,142.9 | −0.069% | $282.3M | $957.0M | 100x | as long as short |
| GRVT BTC_USDT_Perp | +0.0100% | 8h | 85,184 | −0.020% | $213.9M | $159.1M | 50x | as long as short |
| StandX BTC-USD | +0.0100% | 1h | 85,160.1 | −0.049% | $30.0M | $212.2M | 40x | as long as short |
| Vest BTC-PERP | +0.0100% | 1h | 85,253.1 | +0.061% | — | $10.8M | 50x | as long as short |
| Polymarket Perps BTC-USD | +0.0100% | 1h | 85,204 | +0.003% | $10.9M | $14.9M | 50x | as long as short |
| Bullet BTC-USD | +0.0100% | 1h | 85,206 | +0.005% | $197K | $3.3M | 20x | as long as short |
| Orderly PERP_BTC_USDC | +0.0100% | 8h | 85,207.5 | +0.007% | $2.6M | $9.8M | 100x | as long as short |
| Bluefin BTC-PERP | +0.0100% | 1h | 85,241.4 | +0.047% | $194K | $796K | 40x | as long as short |
| Derive BTC-PERP | +0.0100% | 1h | 85,139.1 | −0.073% | $29.5M | $45.3M | 15x | as long as short |
| SunX BTC-USDT | +0.0100% | 8h | 85,176.7 | −0.029% | $2.9M | $6.1M | 100x | as long as short |
| SoDEX BTC-USD | +0.0100% | 1h | 85,211 | +0.011% | $59.7M | $336.6M | 40x | as long as short |
| HTX BTC-USDT | +0.0100% | 8h | 85,200.6 | −0.001% | $2.25B | $973.7M | 200x | as long as short |
| Phemex BTCUSDT | +0.0100% | 8h | 85,212 | +0.012% | $159.0M | $516.2M | 150x | as long as short |
| Extended BTC-USD | +0.0104% | 1h | 85,180.6 | −0.024% | $45.4M | $241.2M | 50x | as long as short |
| Jupiter Perps WBTC-PERP | L +0.0104% / S +0.0056% | 1h | 85,207.7 | +0.007% | — | $106.7M | 500x | as long as short |
| Coinbase International BTC-PERP-INTX | +0.0104% | 1h | 85,242 | +0.048% | $111.7M | $5.48B | 50x | as long as short |
| Reya BTCRUSDPERP | +0.0141% | 1h | 85,184.1 | −0.020% | $6.6M | $143.4M | 40x | as long as short |
| Deribit BTC-PERPETUAL | +0.0149% | 1h | 85,246.4 | +0.053% | $840.2M | $1.67B | 50x | as long as short |
| Kalshi KXBTCPERP | +0.0170% | 8h | 85,202 | +0.001% | $12.2M | $737.4M | 6.4x | as long as short |
| RISEx BTC/USDC | +0.0174% | 1h | 85,213.1 | +0.014% | $8.8M | $42.9M | 25x | as long as short |
| GMX BTC/USD [WBTC.b-USDC] | L +0.0174% / S −0.0147% | 1h | 85,225.7 | +0.028% | $13.0M | — | 200x | as long as short |
| Hibachi BTC/USDT-P | +0.0240% | 1h | 85,205.5 | +0.005% | $678K | $7.7M | 30x | as long as short |
| Aftermath Perps BTCUSD | +0.0289% | 1h | 85,228.7 | +0.032% | $81K | $254K | 20x | as long as short |
| Perpl BTC | +0.0447% | 43m | 85,208.5 | +0.008% | $459K | $18.4M | 6.7x | as long as short |
BingX BTC-USDC
Bybit BTCUSDT
Nado BTC-PERP
Lighter BTC
Lighter RH BTC
Popdex BTCUSDT
Bitget BTCUSDT
Aevo BTC-PERP
Katana Perps BTC-USD
Paradex BTC-USD-PERP
Hyperliquid BTC
Pacifica BTC
Binance BTCUSDT
OKX BTC-USDT-SWAP
Ondo Perps BTC-USD.P
Bulk BTC-USD
Gate BTC_USDT
MEXC BTC_USDT
Backpack BTC_USDC_PERP
Variational Omni BTC
edgeX BTCUSDC
GRVT BTC_USDT_Perp
StandX BTC-USD
Vest BTC-PERP
Polymarket Perps BTC-USD
Bullet BTC-USD
Orderly PERP_BTC_USDC
Bluefin BTC-PERP
Derive BTC-PERP
SunX BTC-USDT
SoDEX BTC-USD
HTX BTC-USDT
Phemex BTCUSDT
Extended BTC-USD
Jupiter Perps WBTC-PERP
Coinbase International BTC-PERP-INTX
Reya BTCRUSDPERP
Deribit BTC-PERPETUAL
Kalshi KXBTCPERP
RISEx BTC/USDC
GMX BTC/USD [WBTC.b-USDC]
Hibachi BTC/USDT-P
Aftermath Perps BTCUSD
Perpl BTC