Funding you earn now, next payment 06:00 UTC+0.0004%/8h= +0.4% APRnext payment +$0.00 per $10,000 · paid last 24h +0.162%
Price spread now: Coinbase International against Bluefin−0.017%7-day average +0.059% · you buy dearer than you sell
Net, funding: paid 7d − costs+$6as in the Funding arb table
Net, price: spread back to 7d avg − costs−$30as in the Price arb table
costs, in and out, $10k−$220.224% of the position
Funding, last 7 days+0.280%+$28 on $10k
+Price spread, last 4 days (all we have)+0.073%+$7 · spread now −0.017%, 7d avg +0.059%
=Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Coinbase International is 0.076% cheaper against Bluefin than usual: you would sell low and buy high, −$8 on $10k if it goes back to its 7-day average of +0.059%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Bluefin BTC-PERP | 85,520.3 | 0.0100 | pay 0.0013% / 1h | 25m 07s | $194K | $795K | 40x |
| Short | Coinbase International BTC-PERP-INTX | 85,505.6 | 0.0104 | get 0.0013% / 1h | 25m 07s | $115.2M | $5.49B | 50x |
Bluefin BTC-PERP
Coinbase International BTC-PERP-INTXFunding history
latest
Range statsloading…
Price spread between the two exchanges
Coinbase International against Bluefin. 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
- $0.84
- Price spread: −0.017% → +0.059%
- −$7.63
- Slippage, 4 orders
- −$5.4
- Fee Bluefin: 3.5 bp × 2 orders
- −$7
- Fee Coinbase International: 5 bp × 2 orders
- −$10
- Net
- −$29.18
- Costs to cover
- 0.224%
- Break-even
- 250.2 days
Slippage from Bluefin: live order book, 19 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 Bluefin live order book, 19 min ago | 1.09 bp | 5.9 bp −$6 | 10.4 bp −$104 | doesn't fit | doesn't fit |
| Sell Coinbase International live order book, 4 min ago | 0.01 bp | 5.0 bp −$5 | 5.0 bp −$50 | 5.2 bp −$516 | 9.1 bp −$4,532 |
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 | −0.0082% | 1h | 85,446 | −0.087% | $2.1M | $10.4M | 40x | as long as short |
| Hotstuff BTC-PERP | −0.0080% | 1h | 85,454 | −0.078% | $8K | $3K | 50x | as long as short |
| KuCoin XBTUSDTM | −0.0044% | 8h | 85,474.8 | −0.053% | $928.8M | $774.3M | 125x | as long as short |
| BloFin BTC-USDT | −0.0027% | 8h | 85,477 | −0.051% | $421.1M | $684.6M | 150x | as long as short |
| Aster BTCUSDT | −0.0010% | 8h | 85,467.5 | −0.062% | $513.4M | $1.09B | 200x | as long as short |
| 01 Exchange BTCUSD | 0.0000% | 1h | 85,502.8 | −0.020% | $353K | $2.4M | 50x | as long as short |
| Perpl BTC | 0.0000% | 43m | 85,523 | +0.003% | $491K | $18.5M | 6.7x | as long as short |
| dYdX BTC-USD | +0.0001% | 1h | 85,470 | −0.059% | $16.8M | $21.3M | 50x | as long as short |
| gTrade (Gains Network) BTC/USD | L +0.0004% / S −0.0004% | 1h | 85,477 | −0.051% | $36.6M | — | 200x | as long as short |
| Nado BTC-PERP | +0.0040% | 1h | 85,468.9 | −0.060% | $24.4M | $222.6M | 50x | as long as short |
Phoenix BTC
Hotstuff BTC-PERP
KuCoin XBTUSDTM
BloFin BTC-USDT
Aster BTCUSDT
01 Exchange BTCUSD
Perpl BTC
dYdX BTC-USD
gTrade (Gains Network) BTC/USD
Nado BTC-PERPShow all 56 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Injective BTC/USDC PERP | +0.0057% | 1h | 85,247 | −0.320% | $338K | $26.8M | 52x | as long as short |
| Deribit BTC-PERPETUAL | +0.0069% | 1h | 85,511 | −0.011% | $862.0M | $1.64B | 50x | as long as short |
| BingX BTC-USDT | +0.0071% | 8h | 85,456.7 | −0.074% | — | $1.57B | — | as long as short |
| Aevo BTC-PERP | +0.0088% | 1h | 85,469.4 | −0.059% | $2.4M | $6.7M | 20x | as long as short |
| Kraken Futures PF_XBTUSD | +0.0089% | 1h | 85,484.7 | −0.042% | $186.4M | $960.5M | 100x | as long as short |
| Bitget BTCUSDT | +0.0090% | 8h | 85,460.3 | −0.070% | $2.97B | $5.17B | 150x | as long as short |
| MEXC BTC_USDT | +0.0091% | 8h | 85,470.7 | −0.058% | $5.02B | $5.76B | 500x | as long as short |
| Binance BTCUSDT | +0.0093% | 8h | 85,479.8 | −0.047% | $9.43B | $24.99B | 150x | as long as short |
| Lighter BTC | +0.0096% | 1h | 85,486 | −0.040% | $170.3M | $1.02B | 50x | as long as short |
| Lighter RH BTC | +0.0096% | 1h | 85,485.5 | −0.041% | $23.5M | $148.2M | 50x | as long as short |
| Popdex BTCUSDT | +0.0096% | 1h | 85,493 | −0.032% | $8.4M | $56.4M | 100x | as long as short |
| Katana Perps BTC-USD | +0.0100% | 8h | 85,470 | −0.059% | $242K | $8.7M | 50x | as long as short |
| Bybit BTCUSDT | +0.0100% | 8h | 85,467.5 | −0.062% | $5.15B | $9.99B | 150x | as long as short |
| Paradex BTC-USD-PERP | +0.0100% | 8h | 85,514.5 | −0.007% | $5.8M | $9.6M | 50x | as long as short |
| Hyperliquid BTC | +0.0100% | 1h | 85,544.3 | +0.028% | $3.75B | $5.09B | 40x | as long as short |
| Pacifica BTC | +0.0100% | 1h | 85,483.2 | −0.043% | $40.0M | $602.6M | 50x | as long as short |
| OKX BTC-USDT-SWAP | +0.0100% | 8h | 85,469.9 | −0.059% | $2.60B | $12.27B | 100x | as long as short |
| Ondo Perps BTC-USD.P | +0.0100% | 1h | 85,459 | −0.072% | $3.8M | $17.1M | 25x | as long as short |
| Arcus BTC-USD | +0.0100% | 1h | 85,466.8 | −0.063% | $5.2M | $98.9M | 40x | as long as short |
| Gate BTC_USDT | +0.0100% | 8h | 85,505 | −0.018% | $5.56B | $11.03B | 200x | as long as short |
| Backpack BTC_USDC_PERP | +0.0100% | 1h | 85,455.7 | −0.076% | $37.1M | $178.2M | 75x | as long as short |
| Variational Omni BTC | +0.0100% | 8h | 85,436.8 | −0.098% | $154.6M | $558.5M | — | as long as short |
| edgeX BTCUSDC | +0.0100% | 4h | 85,386.4 | −0.157% | $279.8M | $950.4M | 100x | as long as short |
| GRVT BTC_USDT_Perp | +0.0100% | 8h | 85,423.4 | −0.113% | $214.5M | $163.9M | 50x | as long as short |
| ApeX Omni BTCUSDT | +0.0100% | 1h | 85,436.7 | −0.098% | $139.7M | $313.7M | 100x | as long as short |
| StandX BTC-USD | +0.0100% | 1h | 85,414.7 | −0.123% | $30.1M | $203.9M | 40x | as long as short |
| Vest BTC-PERP | +0.0100% | 1h | 85,552.4 | +0.038% | — | $10.9M | 50x | as long as short |
| Polymarket Perps BTC-USD | +0.0100% | 1h | 85,506 | −0.017% | $11.0M | $14.6M | 50x | as long as short |
| Bullet BTC-USD | +0.0100% | 1h | 85,500 | −0.024% | $202K | $3.3M | 20x | as long as short |
| Orderly PERP_BTC_USDC | +0.0100% | 8h | 85,480.4 | −0.047% | $2.6M | $9.8M | 100x | as long as short |
| Bluefin BTC-PERPlong | +0.0100% | 1h | 85,520.3 | long leg | $194K | $795K | 40x | |
| Derive BTC-PERP | +0.0100% | 1h | 85,214.5 | −0.358% | $29.9M | $47.0M | 15x | as long as short |
| SunX BTC-USDT | +0.0100% | 8h | 85,506.7 | −0.016% | $2.9M | $6.1M | 100x | as long as short |
| SoDEX BTC-USD | +0.0100% | 1h | 85,471 | −0.058% | $59.8M | $336.8M | 40x | as long as short |
| HTX BTC-USDT | +0.0100% | 8h | 85,479.1 | −0.048% | $2.26B | $968.7M | 200x | as long as short |
| Phemex BTCUSDT | +0.0100% | 8h | 85,498.9 | −0.025% | $152.9M | $510.7M | 150x | as long as short |
| Bulk BTC-USD | +0.0100% | 1h | 85,269.9 | −0.293% | $683.1M | $415.1M | 40x | as long as short |
| Extended BTC-USD | +0.0104% | 1h | 85,454.3 | −0.077% | $44.9M | $240.8M | 50x | as long as short |
| Jupiter Perps WBTC-PERP | L +0.0104% / S +0.0056% | 1h | 85,481.9 | −0.045% | — | $106.8M | 500x | as long as short |
| Coinbase International BTC-PERP-INTXshort | +0.0104% | 1h | 85,505.6 | −0.017% | $115.2M | $5.49B | 50x | |
| Reya BTCRUSDPERP | +0.0129% | 1h | 85,462.8 | −0.067% | $6.6M | $147.7M | 40x | as long as short |
| Kalshi KXBTCPERP | +0.0183% | 8h | 85,499 | −0.025% | $11.8M | $741.1M | 6.4x | as long as short |
| RISEx BTC/USDC | +0.0193% | 1h | 85,488.8 | −0.037% | $8.8M | $42.9M | 25x | as long as short |
| GMX BTC/USD [WBTC.b-USDC] | L +0.0200% / S −0.0176% | 1h | 85,441.9 | −0.092% | $13.1M | — | 200x | as long as short |
| Hibachi BTC/USDT-P | +0.0232% | 1h | 85,492.1 | −0.033% | $685K | $7.9M | 30x | as long as short |
| Aftermath Perps BTCUSD | +0.0247% | 1h | 85,377.9 | −0.167% | $79K | $230K | 20x | as long as short |
Injective BTC/USDC PERP
Deribit BTC-PERPETUAL
BingX BTC-USDT
Aevo BTC-PERP
Kraken Futures PF_XBTUSD
Bitget BTCUSDT
MEXC BTC_USDT
Binance BTCUSDT
Lighter BTC
Lighter RH BTC
Popdex BTCUSDT
Katana Perps BTC-USD
Bybit BTCUSDT
Paradex BTC-USD-PERP
Hyperliquid BTC
Pacifica BTC
OKX BTC-USDT-SWAP
Ondo Perps BTC-USD.P
Arcus BTC-USD
Gate BTC_USDT
Backpack BTC_USDC_PERP
Variational Omni BTC
edgeX BTCUSDC
GRVT BTC_USDT_Perp
ApeX Omni BTCUSDT
StandX BTC-USD
Vest BTC-PERP
Polymarket Perps BTC-USD
Bullet BTC-USD
Orderly PERP_BTC_USDC
Derive BTC-PERP
SunX BTC-USDT
SoDEX BTC-USD
HTX BTC-USDT
Phemex BTCUSDT
Bulk BTC-USD
Extended BTC-USD
Jupiter Perps WBTC-PERP
Reya BTCRUSDPERP
Kalshi KXBTCPERP
RISEx BTC/USDC
GMX BTC/USD [WBTC.b-USDC]
Hibachi BTC/USDT-P
Aftermath Perps BTCUSD