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

BTC

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Alert: funding
Measured
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Checked every minute; it has to hold two checks in a row. Delivery to Telegram comes later, so for now alerts appear on the alerts page.

Alert: spread
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Funding you earn now, next payment 01:00 UTC−0.0048%/8h= −5.2% APRnext payment −$0.06 per $10,000 · paid last 24h −0.002%
Price spread now: RISEx against Backpack+0.009%7-day average +0.016% · you sell dearer than you buy
Net, funding: paid 7d − costs—under 7 days of funding history
Net, price: spread back to 7d avg − costs−$18as in the Price arb table
costs, in and out, $10k−$170.168% of the position
Long on BackpackShort on RISEx
What this pair did over the last
the charts below follow
Funding, last 3 days (all we have)+0.074%+$7 on $10k
Price spread, last 7 days+0.588%+$59 · spread now +0.009%, 7d avg +0.016%
Together, before fees+0.662%+$66 on $10k · with fees, hour by hour
The price spread sits at its 7-day average of +0.016%, so right now this pair is about funding alone: −$1 a day on $10k at the current rate. Mind the row above: over the last 3 days funding on this pair paid +0.074%, so the current rate has only just turned against you.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongBackpack BTC_USDC_PERP86,412.60.0100pay 0.0013% / 1h28m 02s$37.5M$158.2M75x
ShortRISEx BTC/USDC86,4200.0052get 0.0007% / 1h28m 02s$8.3M$42.4M25x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

RISEx against Backpack. 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

Funding earned
−$10.03
Price spread: +0.009% → +0.016%
−$0.79
Slippage, 4 orders
−$0.76
Fee Backpack: 5 bp × 2 orders
−$10
Fee RISEx: 3 bp × 2 orders
−$6
Net
−$27.57
Costs to cover
0.168%
Break-even
never at this rate
Slippage from Backpack: live order book, 1 min ago; RISEx: live order book, 1 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 Backpack live order book, 1 min ago0.01 bp5.0 bp −$55.0 bp −$506.8 bp −$682141.8 bp −$70.9K
Sell RISEx live order book, 1 min ago0.01 bp3.7 bp −$43.7 bp −$3711.7 bp −$1,170doesn't fit

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
Bluefin BTC-PERP−0.0349%1h86,460.8+0.056%$144K$666K40xas long as short
Phoenix BTC−0.0129%1h86,403−0.011%$2.2M$11.2M40xas long as short
Hotstuff BTC-PERP−0.0080%1h86,444+0.036%$9K$3K50xas long as short
01 Exchange BTCUSD−0.0032%1h86,413.5+0.001%$361K$2.4M50xas long as short
Perpl BTC0.0000%43m86,417.5+0.006%$481K$21.5M6.7xas long as short
gTrade (Gains Network) BTC/USDL +0.0005% / S −0.0004%1h86,435.2+0.026%$36.9M—200xas long as short
Phemex BTCUSDT+0.0018%8h86,423.7+0.013%$154.6M$473.6M150xas long as short
Injective BTC/USDC PERP+0.0023%1h86,358−0.063%$343K$26.9M52xas long as short
Aster BTCUSDT+0.0024%8h86,419.1+0.007%$501.2M$1.14B200xas long as short
dYdX BTC-USD+0.0027%1h86,436+0.027%$16.9M$20.5M50xas long as short
Show all 56 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
KuCoin XBTUSDTM+0.0041%8h86,430+0.020%$832.1M$719.6M125xas long as short
Reya BTCRUSDPERP+0.0045%1h86,415.3+0.003%$6.7M$145.7M40xas long as short
BingX BTC-USDC+0.0050%8h86,405.9−0.008%—$15.3M—as long as short
RISEx BTC/USDCshort+0.0052%1h86,420+0.009%$8.3M$42.4M25x
Deribit BTC-PERPETUAL+0.0059%1h86,465.2+0.061%$902.5M$1.51B50xas long as short
Bitget BTCUSDT+0.0063%8h86,408.2−0.005%$2.97B$5.03B150xas long as short
MEXC BTC_USDT+0.0078%8h86,420.9+0.010%$5.13B$5.70B500xas long as short
Binance BTCUSDT+0.0079%8h86,413.1+0.001%$9.42B$24.30B150xas long as short
Aevo BTC-PERP+0.0080%1h86,416.2+0.004%$2.5M$1.8M20xas long as short
SoDEX BTC-USD+0.0095%1h86,428+0.018%$60.4M$338.2M40xas long as short
Lighter BTC+0.0096%1h86,433.9+0.025%$170.7M$986.6M50xas long as short
Lighter RH BTC+0.0096%1h86,435.2+0.026%$23.7M$149.5M50xas long as short
Popdex BTCUSDT+0.0096%1h86,403−0.011%$8.4M$52.0M100xas long as short
HTX BTC-USDT+0.0098%8h86,407.4−0.006%$2.29B$962.6M200xas long as short
Katana Perps BTC-USD+0.0100%8h86,390−0.026%$202K$7.2M50xas long as short
Paradex BTC-USD-PERP+0.0100%8h86,478.8+0.077%$4.2M$8.6M50xas long as short
Nado BTC-PERP+0.0100%1h86,429.9+0.020%$22.0M$227.5M50xas long as short
Hyperliquid BTC+0.0100%1h86,484.8+0.084%$3.79B$5.00B40xas long as short
Pacifica BTC+0.0100%1h86,476.8+0.074%$41.1M$552.2M50xas long as short
Bybit BTCUSDT+0.0100%8h86,421.6+0.010%$5.26B$9.66B150xas long as short
OKX BTC-USDT-SWAP+0.0100%8h86,426.5+0.016%$2.56B$12.48B100xas long as short
Ondo Perps BTC-USD.P+0.0100%1h86,452+0.046%$3.9M$17.9M25xas long as short
Arcus BTC-USD+0.0100%1h86,459.5+0.054%$7.2M$94.9M40xas long as short
Gate BTC_USDT+0.0100%8h86,422.3+0.011%$5.80B$10.54B200xas long as short
Backpack BTC_USDC_PERPlong+0.0100%1h86,412.6long leg$37.5M$158.2M75x
Variational Omni BTC+0.0100%8h86,377.3−0.041%$158.2M$561.5M—as long as short
edgeX BTCUSDC+0.0100%4h86,361.8−0.059%$278.9M$951.4M100xas long as short
GRVT BTC_USDT_Perp+0.0100%8h86,400.1−0.014%$217.0M$165.5M50xas long as short
ApeX Omni BTCUSDT+0.0100%1h86,356.3−0.065%$141.6M$321.1M100xas long as short
StandX BTC-USD+0.0100%1h86,351.2−0.071%$30.7M$209.6M40xas long as short
Vest BTC-PERP+0.0100%1h86,450.5+0.044%—$11.8M50xas long as short
Polymarket Perps BTC-USD+0.0100%1h86,429+0.019%$11.1M$14.1M50xas long as short
Bullet BTC-USD+0.0100%1h86,417.8+0.006%$191K$3.3M20xas long as short
Orderly PERP_BTC_USDC+0.0100%8h86,428.2+0.018%$2.5M$8.9M100xas long as short
Derive BTC-PERP+0.0100%1h86,450.4+0.044%$30.5M$58.1M15xas long as short
SunX BTC-USDT+0.0100%8h86,398.7−0.016%$3.4M$5.2M100xas long as short
Bulk BTC-USD+0.0100%1h86,411.1−0.002%$576.0M$32.8M40xas long as short
Extended BTC-USD+0.0104%1h86,395.7−0.020%$45.9M$221.8M50xas long as short
Jupiter Perps WBTC-PERPL +0.0104% / S +0.0048%1h86,426.3+0.016%—$98.5M500xas long as short
Coinbase International BTC-PERP-INTX+0.0120%1h86,455+0.049%$132.4M$5.39B50xas long as short
Kraken Futures PF_XBTUSD+0.0121%1h86,455.2+0.049%$192.5M$941.4M100xas long as short
Aftermath Perps BTCUSD+0.0167%1h86,408.1−0.005%$77K$217K20xas long as short
Hibachi BTC/USDT-P+0.0168%1h86,394.7−0.021%$710K$7.9M30xas long as short
BloFin BTC-USDT+0.0198%8h86,365.3−0.055%$415.9M$645.9M150xas long as short
GMX BTC/USD [WBTC.b-USDC]L +0.0205% / S −0.0219%1h86,428.6+0.019%$14.5M—200xas long as short
Kalshi KXBTCPERP+0.0209%8h86,453+0.047%$10.2M$762.9M6.4xas long as short