BTC

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0027%/8h= +3.0% APRnext payment +$0.27 per $10,000 · paid last 24h +0.009%

Price spread now: Bybit against Binance−0.005%7-day average −0.001% · you buy dearer than you sell

Net, funding: paid 7d − costs−$22as in the Funding arb table

Net, price: spread back to 7d avg − costs−$21as in the Price arb table

costs, in and out, $10k−$210.210% of the position

Long on Binance Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.013%−$1 on $10k

Price spread, last 7 days−0.002%$0 · spread now −0.005%, 7d avg −0.001%

Together, before fees−0.015%−$2 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.001%, 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	Binance BTCUSDT	86,574.7	0.0073	pay 0.0073% / 8h	42m 53s	$9.43B	$24.58B	150x
Short	Bybit BTCUSDT	86,570.1	0.0100	get 0.0100% / 8h	42m 53s	$5.27B	$9.82B	150x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Binance. 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 BinancebpFee BybitbpOrdersPrice spread, now −0.005%Rate

Funding earned: $5.69
Price spread: −0.005% → −0.001%: −$0.46
Slippage, 4 orders: −$0.02
Fee Binance: 5 bp × 2 orders: −$10
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$15.79
Costs to cover: 0.210%
Break-even: 26.4 days

Slippage from Binance: live order book, 16 min ago; Bybit: live order book, 1 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 Binance live order book, 16 min ago	0.01 bp	5.0 bp −$5	5.0 bp −$50	5.1 bp −$511	6.5 bp −$3,233
Sell Bybit live order book, 1 min ago	0.01 bp	5.5 bp −$6	5.5 bp −$55	5.8 bp −$577	6.8 bp −$3,420

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	−0.0118%	1h	86,580	+0.006%	$2.2M	$11.8M	40x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	86,613	+0.044%	$9K	$3K	50x	as long as short
Injective BTC/USDC PERP	−0.0035%	1h	86,568	−0.008%	$333K	$26.8M	52x	as long as short
RISEx BTC/USDC	−0.0024%	1h	86,617.8	+0.050%	$8.3M	$42.9M	25x	as long as short
01 Exchange BTCUSD	−0.0024%	1h	86,617.4	+0.049%	$361K	$2.5M	50x	as long as short
Deribit BTC-PERPETUAL	0.0000%	1h	86,600.4	+0.030%	$916.4M	$1.49B	50x	as long as short
Aster BTCUSDT	+0.0001%	8h	86,588.2	+0.016%	$502.4M	$1.15B	200x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0005% / S −0.0004%	1h	86,621.5	+0.054%	$36.9M	—	200x	as long as short
KuCoin XBTUSDTM	+0.0012%	8h	86,579.3	+0.005%	$851.3M	$715.0M	125x	as long as short
Reya BTCRUSDPERP	+0.0027%	1h	86,600.9	+0.030%	$6.7M	$145.4M	40x	as long as short

Show all 56 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
dYdX BTC-USD	+0.0027%	1h	86,674.3	+0.115%	$17.0M	$21.1M	50x	as long as short
BingX BTC-USDC	+0.0042%	8h	86,575.9	+0.001%	—	$15.4M	—	as long as short
Phemex BTCUSDT	+0.0043%	8h	86,604.8	+0.035%	$150.5M	$479.6M	150x	as long as short
Bitget BTCUSDT	+0.0052%	8h	86,573.1	−0.002%	$2.96B	$5.12B	150x	as long as short
MEXC BTC_USDT	+0.0072%	8h	86,592.6	+0.021%	$5.15B	$5.64B	500x	as long as short
Aevo BTC-PERP	+0.0072%	1h	86,591.9	+0.020%	$2.4M	$1.3M	20x	as long as short
Binance BTCUSDTlong	+0.0073%	8h	86,574.7	long leg	$9.43B	$24.58B	150x
Gate BTC_USDT	+0.0082%	8h	86,582.3	+0.009%	$5.88B	$10.74B	200x	as long as short
SoDEX BTC-USD	+0.0089%	1h	86,565	−0.011%	$60.5M	$337.7M	40x	as long as short
Lighter BTC	+0.0096%	1h	86,585.2	+0.012%	$170.5M	$1.01B	50x	as long as short
Lighter RH BTC	+0.0096%	1h	86,591.1	+0.019%	$24.0M	$151.8M	50x	as long as short
Popdex BTCUSDT	+0.0096%	1h	86,601	+0.030%	$8.5M	$52.5M	100x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	86,589	+0.017%	$200K	$7.0M	50x	as long as short
Paradex BTC-USD-PERP	+0.0100%	8h	86,653.2	+0.091%	$4.8M	$8.5M	50x	as long as short
Nado BTC-PERP	+0.0100%	1h	86,633.9	+0.068%	$22.0M	$234.8M	50x	as long as short
Hyperliquid BTC	+0.0100%	1h	86,651	+0.088%	$3.80B	$5.11B	40x	as long as short
Pacifica BTC	+0.0100%	1h	86,657.1	+0.095%	$40.9M	$524.0M	50x	as long as short
Bybit BTCUSDTshort	+0.0100%	8h	86,570.1	−0.005%	$5.27B	$9.82B	150x
OKX BTC-USDT-SWAP	+0.0100%	8h	86,575.3	+0.001%	$2.55B	$12.77B	100x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	86,608	+0.038%	$3.9M	$18.6M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	86,641.8	+0.078%	$7.6M	$95.1M	40x	as long as short
Bulk BTC-USD	+0.0100%	1h	86,560.7	−0.016%	$572.5M	$17.8M	40x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	86,564.1	−0.012%	$38.4M	$156.0M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	86,628.8	+0.063%	$157.3M	$569.4M	—	as long as short
edgeX BTCUSDC	+0.0100%	4h	86,643	+0.079%	$279.9M	$948.2M	100x	as long as short
GRVT BTC_USDT_Perp	+0.0100%	8h	86,648.3	+0.085%	$217.6M	$172.0M	50x	as long as short
ApeX Omni BTCUSDT	+0.0100%	1h	86,662	+0.101%	$141.6M	$323.3M	100x	as long as short
StandX BTC-USD	+0.0100%	1h	86,624.8	+0.058%	$30.7M	$204.6M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	86,656.8	+0.095%	—	$11.9M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	86,601	+0.030%	$11.1M	$13.8M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	86,601.5	+0.031%	$190K	$3.3M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	86,585.4	+0.012%	$2.4M	$8.9M	100x	as long as short
Bluefin BTC-PERP	+0.0100%	1h	86,609.1	+0.040%	$140K	$663K	40x	as long as short
Derive BTC-PERP	+0.0100%	1h	86,604	+0.034%	$30.6M	$62.6M	15x	as long as short
SunX BTC-USDT	+0.0100%	8h	86,626	+0.059%	$3.4M	$5.4M	100x	as long as short
HTX BTC-USDT	+0.0100%	8h	86,550.6	−0.028%	$2.30B	$970.5M	200x	as long as short
Extended BTC-USD	+0.0104%	1h	86,569.8	−0.006%	$45.5M	$227.1M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0048%	1h	86,617.7	+0.050%	—	$98.9M	500x	as long as short
Kraken Futures PF_XBTUSD	+0.0110%	1h	86,587.4	+0.015%	$193.5M	$951.7M	100x	as long as short
Perpl BTC	+0.0112%	43m	86,627.7	+0.061%	$419K	$23.2M	6.7x	as long as short
Coinbase International BTC-PERP-INTX	+0.0112%	1h	86,607.1	+0.037%	$132.8M	$5.68B	50x	as long as short
Aftermath Perps BTCUSD	+0.0117%	1h	86,627.6	+0.061%	$79K	$219K	20x	as long as short
Hibachi BTC/USDT-P	+0.0184%	1h	86,688.4	+0.131%	$729K	$8.1M	30x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0192% / S −0.0216%	1h	86,615.2	+0.047%	$15.1M	—	200x	as long as short
BloFin BTC-USDT	+0.0193%	8h	86,567.3	−0.009%	$413.7M	$658.7M	150x	as long as short
Kalshi KXBTCPERP	+0.0209%	8h	86,641	+0.077%	$9.7M	$743.3M	6.4x	as long as short