Settings8H · net · $10k
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Funding arb · Price arb /

BTC

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Alert: funding
Measured
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Alert: spread
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Funding you earn now, next payment 20:00 UTC+0.0190%/8hpaid last 24h +0.038%
Price spread now: Deribit against Aster+0.087%7-day average +0.048% · you sell dearer than you buy
Net, funding: paid 7d − costs−$12as in the Funding arb table
Net, price: spread back to 7d avg − costs−$12as in the Price arb table
costs, in and out, $10k−$150.154% of the position
Long on AsterShort on Deribit
What this pair did over the last
the charts below follow
Funding, last 7 days+0.030%+$3 on $10k
Price spread, last 3 days (all we have)−0.062%−$6 · spread now +0.087%, 7d avg +0.048%
Together, before fees−0.032%+ Points / potential airdropAster: Stage 5 · farm board−$3 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$6 a day on $10k at the current rate, and Deribit is 0.039% dearer against Aster than usual: you sell high and buy low: +$4 more if the spread goes back to its 7-day average of +0.048%.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.030% in total (about 1.5% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongAster BTCUSDT86,4950.0022pay 0.0022% / 8h4h 07m$506.4M$1.12B200x
ShortDeribit BTC-PERPETUAL86,569.80.0212get 0.0026% / 1h7m 01s$932.5M$1.22B50x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Deribit against Aster. Falling: the short leg gains. Rising: it loses.
latest
Price spreadloading…

Funding on every exchange

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latest
How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Funding earned
$39.86
Price spread: +0.087% → +0.048%
$3.85
Slippage, 4 orders
−$0.36
Fee Aster: 4 bp × 2 orders
−$8
Fee Deribit: 3.5 bp × 2 orders
−$7
Net
$28.36
Costs to cover
0.154%
Break-even
2.0 days
Slippage from Aster: live order book, 2 min ago; Deribit: live order book, 2 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy Aster live order book, 2 min ago0.01 bp4.0 bp −$44.0 bp −$404.3 bp −$4316.5 bp −$3,243
Sell Deribit live order book, 2 min ago0.03 bp3.8 bp −$44.4 bp −$447.4 bp −$74315.7 bp −$7,859

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
Perpl BTC−0.0223%43m86,518+0.027%$406K$25.8M6.7xas long as short
Phoenix BTC−0.0132%1h86,513+0.021%$2.1M$11.1M40xas long as short
BloFin BTC-USDT−0.0082%8h86,503.8+0.010%$422.7M$595.4M150xas long as short
Hotstuff BTC-PERP−0.0080%1h86,482−0.015%$9K$4K50xas long as short
Aftermath Perps BTCUSD−0.0046%1h86,533.5+0.044%$85K$166K20xas long as short
Kraken Futures PF_XBTUSD−0.0030%1h86,539+0.051%$184.7M$860.0M100xas long as short
01 Exchange BTCUSD−0.0024%1h86,517.2+0.026%$302K$2.4M50xas long as short
dYdX BTC-USD−0.0014%1h86,517+0.025%$17.3M$18.2M50xas long as short
KuCoin XBTUSDTM−0.0010%8h86,492.6−0.003%$823.0M$665.9M125xas long as short
Kalshi KXBTCPERP0.0000%8h86,543+0.055%$8.8M$694.0M6.4xas long as short
Show all 56 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Injective BTC/USDC PERP0.0000%1h86,572+0.089%$327K$27.0M52xas long as short
Reya BTCRUSDPERP+0.0003%1h86,521.1+0.030%$6.7M$139.9M40xas long as short
gTrade (Gains Network) BTC/USDL +0.0004% / S −0.0004%1h86,541.8+0.054%$37.1M—200xas long as short
BingX BTC-USDT+0.0006%8h86,495.6+0.001%—$1.46B—as long as short
Bitget BTCUSDT+0.0008%8h86,495.8+0.001%$2.97B$4.90B150xas long as short
SoDEX BTC-USD+0.0010%1h86,493−0.002%$61.1M$311.5M40xas long as short
Aster BTCUSDTlong+0.0022%8h86,495long leg$506.4M$1.12B200x
RISEx BTC/USDC+0.0027%1h86,509.8+0.017%$8.9M$39.7M25xas long as short
Phemex BTCUSDT+0.0032%8h86,509.6+0.017%$153.6M$444.1M150xas long as short
MEXC BTC_USDT+0.0037%8h86,495.40.000%$5.13B$5.35B500xas long as short
Binance BTCUSDT+0.0038%8h86,494.90.000%$9.54B$23.28B150xas long as short
OKX BTC-USDT-SWAP+0.0039%8h86,489.9−0.006%$2.63B$12.17B100xas long as short
Aevo BTC-PERP+0.0040%1h86,506.4+0.013%$2.4M$1.3M20xas long as short
ApeX Omni BTCUSDT+0.0043%1h86,479.2−0.018%$140.5M$320.6M100xas long as short
Bluefin BTC-PERP+0.0062%1h86,533.3+0.044%$141K$505K40xas long as short
Bulk BTC-USD+0.0062%1h86,467−0.032%$570.2M$47.0M40xas long as short
HTX BTC-USDT+0.0066%8h86,502.7+0.009%$2.30B$896.1M200xas long as short
Gate BTC_USDT+0.0070%8h86,498.8+0.004%$5.98B$10.20B200xas long as short
Bybit BTCUSDT+0.0076%8h86,498.4+0.004%$5.29B$9.19B150xas long as short
Popdex BTCUSDT+0.0080%1h86,491−0.005%$8.5M$49.9M100xas long as short
Orderly PERP_BTC_USDC+0.0089%8h86,522.4+0.032%$2.3M$7.7M100xas long as short
Variational Omni BTC+0.0089%8h86,459−0.042%$163.4M$537.2M—as long as short
Lighter BTC+0.0096%1h86,513.8+0.022%$173.0M$980.7M50xas long as short
Lighter RH BTC+0.0096%1h86,515.3+0.023%$24.2M$146.9M50xas long as short
Hibachi BTC/USDT-P+0.0096%1h86,551.3+0.065%$615K$6.8M30xas long as short
GRVT BTC_USDT_Perp+0.0097%8h86,471.7−0.027%$217.2M$181.9M50xas long as short
Paradex BTC-USD-PERP+0.0099%8h86,516.2+0.024%$4.5M$7.2M50xas long as short
Katana Perps BTC-USD+0.0100%8h86,4950.000%$213K$6.1M50xas long as short
Nado BTC-PERP+0.0100%1h86,482.5−0.015%$23.4M$229.8M50xas long as short
Pacifica BTC+0.0100%1h86,505+0.012%$37.3M$446.3M50xas long as short
Ondo Perps BTC-USD.P+0.0100%1h86,507+0.014%$3.9M$18.4M25xas long as short
Arcus BTC-USD+0.0100%1h86,546+0.059%$7.1M$91.9M40xas long as short
Backpack BTC_USDC_PERP+0.0100%1h86,507.3+0.014%$37.4M$140.5M75xas long as short
edgeX BTCUSDC+0.0100%4h86,473−0.025%$284.3M$906.7M100xas long as short
StandX BTC-USD+0.0100%1h86,505.7+0.012%$30.8M$208.9M40xas long as short
Vest BTC-PERP+0.0100%1h86,581.8+0.100%—$11.6M50xas long as short
Polymarket Perps BTC-USD+0.0100%1h86,526+0.036%$10.9M$13.0M50xas long as short
Bullet BTC-USD+0.0100%1h86,519.5+0.028%$237K$3.4M20xas long as short
Derive BTC-PERP+0.0100%1h86,507.7+0.015%$30.2M$60.5M15xas long as short
SunX BTC-USDT+0.0100%8h86,480.9−0.016%$3.4M$5.7M100xas long as short
Extended BTC-USD+0.0104%1h86,486.4−0.010%$47.9M$218.9M50xas long as short
Jupiter Perps WBTC-PERPL +0.0104% / S +0.0048%1h86,519.5+0.028%—$87.2M500xas long as short
Hyperliquid BTC+0.0152%1h86,603+0.125%$3.99B$4.75B40xas long as short
Coinbase International BTC-PERP-INTX+0.0168%1h86,556.4+0.071%$131.6M$5.90B50xas long as short
GMX BTC/USD [WBTC.b-USDC]L +0.0179% / S −0.0203%1h86,539.1+0.051%$14.5M—200xas long as short
Deribit BTC-PERPETUALshort+0.0212%1h86,569.8+0.087%$932.5M$1.22B50x