Funding you earn now, next payment 11:00 UTC+0.0081%/8h= +8.9% APRpaid last 24h +0.026%
Price spread now: Coinbase International against BingX−0.062%7-day average +0.061% · you buy dearer than you sell
Net, funding: paid 7d − costs−$15as in the Funding arb table
Net, price: spread back to 7d avg − costs−$32as in the Price arb table
costs, in and out, $10k−$200.200% of the position
Funding, last 7 days+0.052%+$5 on $10k
+Price spread, last 4 days (all we have)+0.087%+$9 · spread now −0.062%, 7d avg +0.061%
=Funding pays, the price is against you. Coinbase International is 0.123% cheaper against BingX than usual: you would sell low and buy high (spread −0.062% now, against its 7-day average of +0.061%). If the spread goes back, that is −$12 on $10k: about 5.0 days of funding at the current rate (+$2 a day). At the pace of the last 7 days (+0.052% in total) that is about 17 days.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | BingX BTC-USDC | 85,853.3 | 0.0047 | pay 0.0047% / 8h | 4h 48m | — | $16.1M | — |
| Short | Coinbase International BTC-PERP-INTX | 85,800.2 | 0.0128 | get 0.0016% / 1h | 48m 32s | $112.0M | $4.93B | 50x |
BingX BTC-USDC
Coinbase International BTC-PERP-INTXFunding history
latest
Range statsloading…
Price spread between the two exchanges
Coinbase International against BingX. 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
- $17.01
- Price spread: −0.062% → +0.061%
- −$12.26
- Slippage, 4 orders
- −$0.04
- Fee BingX: 5 bp × 2 orders
- −$10
- Fee Coinbase International: 5 bp × 2 orders
- −$10
- Net
- −$15.28
- Costs to cover
- 0.200%
- Break-even
- 13.3 days
Slippage from BingX: live order book, 3 min ago; Coinbase International: 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 BingX live order book, 3 min ago | 0.01 bp | 5.0 bp −$5 | 5.0 bp −$50 | 5.9 bp −$592 | 8.1 bp −$4,055 |
| Sell Coinbase International live order book, 4 min ago | 0.01 bp | 5.0 bp −$5 | 5.0 bp −$50 | 5.4 bp −$540 | 10.3 bp −$5,135 |
BTC on 56 exchanges
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 | −0.0150% | 1h | 85,939 | +0.100% | $2.1M | $7.7M | 40x | as long as short |
| Perpl BTC | −0.0112% | 43m | 85,837.3 | −0.019% | $474K | $13.4M | 6.7x | as long as short |
| Hotstuff BTC-PERP | −0.0080% | 1h | 85,930 | +0.089% | $8K | $2K | 50x | as long as short |
| BloFin BTC-USDT | −0.0045% | 8h | 85,776.6 | −0.089% | $421.4M | $548.7M | 150x | as long as short |
| 01 Exchange BTCUSD | −0.0032% | 1h | 85,857.1 | +0.004% | $369K | $1.8M | 50x | as long as short |
| SoDEX BTC-USD | −0.0010% | 1h | 85,806 | −0.055% | $65.8M | $187.1M | 40x | as long as short |
| dYdX BTC-USD | 0.0000% | 1h | 85,879.7 | +0.031% | $16.8M | $13.6M | 50x | as long as short |
| Injective BTC/USDC PERP | +0.0001% | 1h | 85,802 | −0.060% | $321K | $28.2M | 52x | as long as short |
| gTrade (Gains Network) BTC/USD | L +0.0004% / S −0.0004% | 1h | 85,754.5 | −0.115% | $36.8M | — | 200x | as long as short |
| Aster BTCUSDT | +0.0015% | 8h | 85,854.4 | +0.001% | $511.1M | $831.8M | 200x | as long as short |
Phoenix BTC
Perpl BTC
Hotstuff BTC-PERP
BloFin BTC-USDT
01 Exchange BTCUSD
SoDEX BTC-USD
dYdX BTC-USD
Injective BTC/USDC PERP
gTrade (Gains Network) BTC/USD
Aster BTCUSDTShow all 56 exchanges
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Kraken Futures PF_XBTUSD | +0.0019% | 1h | 85,778.2 | −0.087% | $192.2M | $739.0M | 100x | as long as short |
| Popdex BTCUSDT | +0.0040% | 1h | 85,850 | −0.004% | $8.6M | $45.5M | 100x | as long as short |
| BingX BTC-USDClong | +0.0047% | 8h | 85,853.3 | long leg | — | $16.1M | — | |
| KuCoin XBTUSDTM | +0.0053% | 8h | 85,874.4 | +0.025% | $941.4M | $633.4M | 125x | as long as short |
| Bybit BTCUSDT | +0.0060% | 8h | 85,849.6 | −0.004% | $5.14B | $7.99B | 150x | as long as short |
| Aevo BTC-PERP | +0.0072% | 1h | 85,771.2 | −0.096% | $2.4M | $6.8M | 20x | as long as short |
| Binance BTCUSDT | +0.0075% | 8h | 85,855.6 | +0.003% | $9.41B | $20.03B | 150x | as long as short |
| MEXC BTC_USDT | +0.0075% | 8h | 85,886.1 | +0.038% | $5.15B | $4.70B | 500x | as long as short |
| Gate BTC_USDT | +0.0077% | 8h | 85,878.8 | +0.030% | $5.51B | $8.76B | 200x | as long as short |
| Phemex BTCUSDT | +0.0079% | 8h | 85,789.9 | −0.074% | $170.9M | $474.5M | 150x | as long as short |
| HTX BTC-USDT | +0.0081% | 8h | 85,754.6 | −0.115% | $2.26B | $768.4M | 200x | as long as short |
| ApeX Omni BTCUSDT | +0.0085% | 1h | 85,897.1 | +0.051% | $137.7M | $288.5M | 100x | as long as short |
| Bitget BTCUSDT | +0.0087% | 8h | 85,849.2 | −0.005% | $3.00B | $3.84B | 150x | as long as short |
| Lighter BTC | +0.0096% | 1h | 85,899.2 | +0.053% | $173.4M | $833.8M | 50x | as long as short |
| Lighter RH BTC | +0.0096% | 1h | 85,905.1 | +0.060% | $23.8M | $117.0M | 50x | as long as short |
| Katana Perps BTC-USD | +0.0100% | 8h | 85,833 | −0.024% | $229K | $8.1M | 50x | as long as short |
| Paradex BTC-USD-PERP | +0.0100% | 8h | 85,910.3 | +0.066% | $5.9M | $7.3M | 50x | as long as short |
| Nado BTC-PERP | +0.0100% | 1h | 85,854.3 | +0.001% | $23.6M | $189.5M | 50x | as long as short |
| Pacifica BTC | +0.0100% | 1h | 85,920.9 | +0.079% | $40.1M | $569.3M | 50x | as long as short |
| OKX BTC-USDT-SWAP | +0.0100% | 8h | 85,827.3 | −0.030% | $2.63B | $9.11B | 100x | as long as short |
| Ondo Perps BTC-USD.P | +0.0100% | 1h | 85,859 | +0.007% | $4.0M | $14.6M | 25x | as long as short |
| Arcus BTC-USD | +0.0100% | 1h | 85,863.4 | +0.012% | $4.8M | $91.3M | 40x | as long as short |
| Backpack BTC_USDC_PERP | +0.0100% | 1h | 85,765.7 | −0.102% | $38.2M | $196.0M | 75x | as long as short |
| Variational Omni BTC | +0.0100% | 8h | 85,863.5 | +0.012% | $156.6M | $472.5M | — | as long as short |
| edgeX BTCUSDC | +0.0100% | 4h | 85,863 | +0.011% | $289.4M | $732.9M | 100x | as long as short |
| GRVT BTC_USDT_Perp | +0.0100% | 8h | 85,886.7 | +0.039% | $215.6M | $132.6M | 50x | as long as short |
| StandX BTC-USD | +0.0100% | 1h | 85,908.8 | +0.065% | $30.2M | $227.4M | 40x | as long as short |
| Vest BTC-PERP | +0.0100% | 1h | 85,910.4 | +0.067% | — | $10.1M | 50x | as long as short |
| Polymarket Perps BTC-USD | +0.0100% | 1h | 85,833 | −0.024% | $11.0M | $12.1M | 50x | as long as short |
| Bullet BTC-USD | +0.0100% | 1h | 85,786 | −0.078% | $216K | $3.2M | 20x | as long as short |
| Orderly PERP_BTC_USDC | +0.0100% | 8h | 85,738.1 | −0.134% | $2.6M | $8.7M | 100x | as long as short |
| Bluefin BTC-PERP | +0.0100% | 1h | 85,759.9 | −0.109% | $143K | $608K | 40x | as long as short |
| Derive BTC-PERP | +0.0100% | 1h | 85,819.3 | −0.040% | $29.0M | $44.3M | 15x | as long as short |
| SunX BTC-USDT | +0.0100% | 8h | 85,876.7 | +0.027% | $3.3M | $6.8M | 100x | as long as short |
| Bulk BTC-USD | +0.0100% | 1h | 85,951.1 | +0.114% | $715.0M | $86.6M | 40x | as long as short |
| Extended BTC-USD | +0.0104% | 1h | 85,824.3 | −0.034% | $47.3M | $191.6M | 50x | as long as short |
| Jupiter Perps WBTC-PERP | L +0.0104% / S +0.0056% | 1h | 85,823.5 | −0.035% | — | $79.2M | 500x | as long as short |
| Coinbase International BTC-PERP-INTXshort | +0.0128% | 1h | 85,800.2 | −0.062% | $112.0M | $4.93B | 50x | |
| Kalshi KXBTCPERP | +0.0157% | 8h | 85,825 | −0.033% | $13.0M | $738.5M | 6.4x | as long as short |
| RISEx BTC/USDC | +0.0165% | 1h | 85,896.1 | +0.050% | $9.0M | $35.5M | 25x | as long as short |
| Deribit BTC-PERPETUAL | +0.0171% | 1h | 85,810 | −0.050% | $819.8M | $1.49B | 50x | as long as short |
| Reya BTCRUSDPERP | +0.0173% | 1h | 85,830.5 | −0.027% | $6.6M | $125.2M | 40x | as long as short |
| GMX BTC/USD [WBTC.b-USDC] | L +0.0211% / S −0.0252% | 1h | 85,774.4 | −0.092% | $15.5M | — | 200x | as long as short |
| Hyperliquid BTC | +0.0224% | 1h | 85,963 | +0.128% | $3.95B | $4.16B | 40x | as long as short |
| Hibachi BTC/USDT-P | +0.0296% | 1h | 85,960.7 | +0.125% | $695K | $6.7M | 30x | as long as short |
| Aftermath Perps BTCUSD | +0.0315% | 1h | 85,906.4 | +0.062% | $79K | $228K | 20x | as long as short |
Kraken Futures PF_XBTUSD
Popdex BTCUSDT
KuCoin XBTUSDTM
Bybit BTCUSDT
Aevo BTC-PERP
Binance BTCUSDT
MEXC BTC_USDT
Gate BTC_USDT
Phemex BTCUSDT
HTX BTC-USDT
ApeX Omni BTCUSDT
Bitget BTCUSDT
Lighter BTC
Lighter RH BTC
Katana Perps BTC-USD
Paradex BTC-USD-PERP
Nado BTC-PERP
Pacifica BTC
OKX BTC-USDT-SWAP
Ondo Perps BTC-USD.P
Arcus BTC-USD
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
Bulk BTC-USD
Extended BTC-USD
Jupiter Perps WBTC-PERP
Kalshi KXBTCPERP
RISEx BTC/USDC
Deribit BTC-PERPETUAL
Reya BTCRUSDPERP
GMX BTC/USD [WBTC.b-USDC]
Hyperliquid BTC
Hibachi BTC/USDT-P
Aftermath Perps BTCUSD