data as of
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Funding arb /

BTC

all BTC markets
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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.

Funding spread now, next payment 15:00 UTC0.0000%/8h
next payment, per $10,000+$0.00paid, last 24h−0.020%paid, last 3 days−0.049%to open and close $10k−$20
Long on BulletShort on Backpack
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongBullet BTC-USD85,1630.0100pay 0.0013% / 1h51m 31s$248K$3.3M20x
ShortBackpack BTC_USDC_PERP85,0950.0100get 0.0013% / 1h51m 31s$38.8M$101.8M75x

Funding history

latest
Range statsloading…

Funding on every exchange

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latest

Profit calculator

Funding earned
$0
Slippage, 4 orders
−$2.37
Fee Bullet: 4 bp × 2 orders
−$8
Fee Backpack: 5 bp × 2 orders
−$10
Net
−$20.37
Break-even
never at this rate
Slippage from Bullet: live order book, 4 min ago; Backpack: live order book, 4 min ago.

Price risk

price view
Price gap now
−0.080%
Avg gap 7d
−0.036%
A gap far from its average can cost days of funding.

Backtest

opened in the past, held until now, after costs
Backtest 7 daysBacktest 30 daysBacktest 90 daysopens the backtester with this pair and $10,000 a leg

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy Bullet live order book, 4 min ago0.41 bp5.1 bp −$57.5 bp −$75doesn't fitdoesn't fit
Sell Backpack live order book, 4 min ago0.01 bp5.0 bp −$55.0 bp −$506.5 bp −$65516.5 bp −$8,249

BTC on 55 venues

lowest funding first. Swap a leg.
ExchangeFunding /8hEveryOIVol 24hMax lev
Perpl BTC−0.0447%43m$427K$31.5M6.7xas long as short
edgeX BTCUSDC−0.0114%4h$281.7M$788.6M100xas long as short
Hotstuff BTC-PERP−0.0080%1h$8K$3K50xas long as short
Aftermath Perps BTCUSD−0.0043%1h$83K$139K20xas long as short
Reya BTCRUSDPERP−0.0035%1h$6.8M$135.8M40xas long as short
01 Exchange BTCUSD−0.0032%1h$278K$2.3M50xas long as short
Phemex BTCUSDT−0.0021%8h$158.2M$370.7M150xas long as short
Gate BTC_USDT−0.0020%8h$6.00B$8.41B200xas long as short
Bitget BTCUSDT−0.0011%8h$2.94B$4.25B150xas long as short
BingX BTC-USDT−0.0011%8h—$1.29B—as long as short
Show all 55 venues
ExchangeFunding /8hEveryOIVol 24hMax lev
dYdX BTC-USD0.0000%1h$16.0M$13.8M50xas long as short
Kalshi KXBTCPERP0.0000%8h$8.2M$491.8M6.4xas long as short
ApeX Omni BTCUSDT+0.0004%1h$137.5M$315.5M100xas long as short
gTrade (Gains Network) BTC/USDL +0.0004% / S −0.0004%1h$36.4M—200xas long as short
Derive BTC-PERP+0.0009%1h$27.8M$55.0M15xas long as short
Phoenix BTC+0.0015%1h$1.6M$10.8M40xas long as short
HTX BTC-USDT+0.0023%8h$2.28B$776.5M200xas long as short
SoDEX BTC-USD+0.0031%1h$61.1M$234.4M40xas long as short
Aster BTCUSDT+0.0038%8h$486.0M$986.6M200xas long as short
Kraken Futures PF_XBTUSD+0.0042%1h$185.4M$744.3M100xas long as short
OKX BTC-USDT-SWAP+0.0058%8h$2.55B$10.59B100xas long as short
KuCoin XBTUSDTM+0.0067%8h$798.8M$577.3M125xas long as short
Paradex BTC-USD-PERP+0.0084%8h$4.3M$6.5M50xas long as short
Lighter BTC+0.0088%1h$182.1M$843.2M50xas long as short
Binance BTCUSDT+0.0095%8h$9.48B$19.36B150xas long as short
MEXC BTC_USDT+0.0095%8h$4.91B$4.61B500xas long as short
Lighter RH BTC+0.0096%1h$25.2M$130.3M50xas long as short
Popdex BTCUSDT+0.0096%1h$8.4M$40.2M100xas long as short
Aevo BTC-PERP+0.0096%1h$2.4M$1.7M20xas long as short
Katana Perps BTC-USD+0.0100%8h$208K$4.9M50xas long as short
Nado BTC-PERP+0.0100%1h$23.7M$220.2M50xas long as short
Pacifica BTC+0.0100%1h$36.2M$310.2M50xas long as short
Bybit BTCUSDT+0.0100%8h$5.03B$7.79B150xas long as short
Ondo Perps BTC-USD.P+0.0100%1h$3.9M$15.5M25xas long as short
Arcus BTC-USD+0.0100%1h$6.1M$77.0M40xas long as short
Bulk BTC-USD+0.0100%1h$534.4M$59.0M40xas long as short
Backpack BTC_USDC_PERPshort+0.0100%1h$38.8M$101.8M75x
Variational Omni BTC+0.0100%8h$172.6M$465.7M—as long as short
StandX BTC-USD+0.0100%1h$30.4M$247.0M40xas long as short
Vest BTC-PERP+0.0100%1h—$13.1M50xas long as short
Polymarket Perps BTC-USD+0.0100%1h$10.8M$10.5M50xas long as short
Bullet BTC-USDlong+0.0100%1h$248K$3.3M20x
Orderly PERP_BTC_USDC+0.0100%8h$2.3M$6.6M100xas long as short
Bluefin BTC-PERP+0.0100%1h$142K$399K40xas long as short
SunX BTC-USDT+0.0100%8h$3.3M$5.3M100xas long as short
Extended BTC-USD+0.0104%1h$47.0M$199.4M50xas long as short
Jupiter Perps WBTC-PERPL +0.0104% / S +0.0048%1h—$85.2M500xas long as short
Hyperliquid BTC+0.0105%1h$3.80B$4.05B40xas long as short
Coinbase International BTC-PERP-INTX+0.0112%1h$142.0M$6.07B50xas long as short
RISEx BTC/USDC+0.0178%1h$8.5M$36.5M25xas long as short
Injective BTC/USDC PERP+0.0180%1h$306K$27.0M52xas long as short
GMX BTC/USD [WBTC.b-USDC]L +0.0196% / S −0.0202%1h$12.8M—200xas long as short
BloFin BTC-USDT+0.0215%8h$419.7M$476.3M150xas long as short
Hibachi BTC/USDT-P+0.0216%1h$634K$7.6M30xas long as short
Deribit BTC-PERPETUAL+0.0507%1h$847.3M$916.5M50xas long as short