Funding you earn now, next payment 01:00 UTC−0.0008%/8h= −0.9% APRnext payment −$0.01 per $10,000 · paid last 24h −0.011%
Price spread now: Extended against Coinbase International+0.005%7-day average −0.075% · you sell dearer than you buy
Net, funding: paid 7d − costs−$11as in the Funding arb table
Net, price: spread back to 7d avg − costs−$8as in the Price arb table
costs, in and out, $10k−$160.157% of the position
Funding, last 7 days+0.049%+$5 on $10k
+Price spread, last 3 days (all we have)−0.058%−$6 · spread now +0.005%, 7d avg −0.075%
=Together, before fees−0.009%+ Points / potential airdropExtended: Active · farm board−$1 on $10k · with fees, hour by hour
Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Extended is 0.080% dearer against Coinbase International than usual: you sell high and buy low, +$8 on $10k if it goes back to its 7-day average of −0.075%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Coinbase International BTC-PERP-INTX | 85,733.8 | 0.0112 | pay 0.0014% / 1h | 44m 28s | $131.6M | $5.25B | 50x |
| Short | Extended BTC-USD | 85,737.9 | 0.0104 | get 0.0013% / 1h | 44m 28s | $45.0M | $227.4M | 50x |
Coinbase International BTC-PERP-INTX
Extended BTC-USDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Extended against Coinbase International. 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
- −$1.68
- Price spread: +0.005% → −0.075%
- $8.01
- Slippage, 4 orders
- −$0.69
- Fee Coinbase International: 5 bp × 2 orders
- −$10
- Fee Extended: 2.5 bp × 2 orders
- −$5
- Net
- −$9.35
- Costs to cover
- 0.157%
- Break-even
- never at this rate
Slippage from Coinbase International: live order book, 5 min ago; Extended: live order book, 5 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 Coinbase International live order book, 5 min ago | 0.01 bp | 5.0 bp −$5 | 5.0 bp −$50 | 5.7 bp −$571 | 13.3 bp −$6,642 |
| Sell Extended live order book, 5 min ago | 0.06 bp | 3.1 bp −$3 | 3.5 bp −$35 | 4.4 bp −$444 | 10.5 bp −$5,255 |
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 | −0.0144% | 1h | 85,767 | +0.039% | $2.2M | $10.5M | 40x | as long as short |
| Hotstuff BTC-PERP | −0.0080% | 1h | 85,777 | +0.050% | $8K | $3K | 50x | as long as short |
| BloFin BTC-USDT | −0.0078% | 8h | 85,853 | +0.139% | $415.8M | $658.2M | 150x | as long as short |
| 01 Exchange BTCUSD | −0.0056% | 1h | 85,771.9 | +0.044% | $364K | $2.3M | 50x | as long as short |
| dYdX BTC-USD | 0.0000% | 1h | 85,774.5 | +0.047% | $16.8M | $20.6M | 50x | as long as short |
| Perpl BTC | 0.0000% | 43m | 85,781.7 | +0.056% | $513K | $21.3M | 6.7x | as long as short |
| gTrade (Gains Network) BTC/USD | L +0.0004% / S −0.0004% | 1h | 85,727.9 | −0.007% | $36.6M | — | 200x | as long as short |
| Injective BTC/USDC PERP | +0.0020% | 1h | 85,810 | +0.089% | $341K | $26.9M | 52x | as long as short |
| Aster BTCUSDT | +0.0037% | 8h | 85,761 | +0.032% | $497.4M | $1.13B | 200x | as long as short |
| KuCoin XBTUSDTM | +0.0040% | 8h | 85,740 | +0.007% | $894.1M | $757.3M | 125x | as long as short |
Phoenix BTC
Hotstuff BTC-PERP
BloFin BTC-USDT
01 Exchange BTCUSD
dYdX BTC-USD
Perpl BTC
gTrade (Gains Network) BTC/USD
Injective BTC/USDC PERP
Aster BTCUSDT
KuCoin XBTUSDTMShow all 56 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| RISEx BTC/USDC | +0.0044% | 1h | 85,770.5 | +0.043% | $8.1M | $42.6M | 25x | as long as short |
| BingX BTC-USDC | +0.0053% | 8h | 85,750.1 | +0.019% | — | $15.4M | — | as long as short |
| Reya BTCRUSDPERP | +0.0054% | 1h | 85,754.5 | +0.024% | $6.7M | $146.1M | 40x | as long as short |
| Bitget BTCUSDT | +0.0067% | 8h | 85,763.8 | +0.035% | $2.95B | $5.13B | 150x | as long as short |
| ApeX Omni BTCUSDT | +0.0076% | 1h | 85,808.2 | +0.087% | $140.3M | $320.9M | 100x | as long as short |
| HTX BTC-USDT | +0.0077% | 8h | 85,695.9 | −0.044% | $2.27B | $969.0M | 200x | as long as short |
| Nado BTC-PERP | +0.0079% | 1h | 85,769.9 | +0.042% | $22.8M | $229.3M | 50x | as long as short |
| Aevo BTC-PERP | +0.0080% | 1h | 85,707 | −0.031% | $2.5M | $1.8M | 20x | as long as short |
| Binance BTCUSDT | +0.0088% | 8h | 85,772.2 | +0.045% | $9.34B | $24.58B | 150x | as long as short |
| MEXC BTC_USDT | +0.0088% | 8h | 85,743.5 | +0.011% | $5.10B | $5.67B | 500x | as long as short |
| Gate BTC_USDT | +0.0094% | 8h | 85,765.7 | +0.037% | $5.66B | $10.39B | 200x | as long as short |
| Lighter BTC | +0.0096% | 1h | 85,764.4 | +0.036% | $169.4M | $979.6M | 50x | as long as short |
| Lighter RH BTC | +0.0096% | 1h | 85,766.3 | +0.038% | $23.3M | $145.2M | 50x | as long as short |
| Popdex BTCUSDT | +0.0096% | 1h | 85,778 | +0.052% | $8.4M | $52.5M | 100x | as long as short |
| Katana Perps BTC-USD | +0.0100% | 8h | 85,749 | +0.018% | $210K | $7.5M | 50x | as long as short |
| Paradex BTC-USD-PERP | +0.0100% | 8h | 85,766.6 | +0.038% | $3.8M | $8.7M | 50x | as long as short |
| Hyperliquid BTC | +0.0100% | 1h | 85,828 | +0.110% | $3.77B | $5.04B | 40x | as long as short |
| Pacifica BTC | +0.0100% | 1h | 85,775.8 | +0.049% | $40.9M | $569.6M | 50x | as long as short |
| Bybit BTCUSDT | +0.0100% | 8h | 85,793.5 | +0.070% | $5.27B | $9.81B | 150x | as long as short |
| OKX BTC-USDT-SWAP | +0.0100% | 8h | 85,789.8 | +0.065% | $2.55B | $12.53B | 100x | as long as short |
| Ondo Perps BTC-USD.P | +0.0100% | 1h | 85,758 | +0.028% | $3.9M | $17.8M | 25x | as long as short |
| Arcus BTC-USD | +0.0100% | 1h | 85,745.2 | +0.013% | $7.3M | $98.1M | 40x | as long as short |
| Backpack BTC_USDC_PERP | +0.0100% | 1h | 85,700.3 | −0.039% | $35.1M | $163.5M | 75x | as long as short |
| Variational Omni BTC | +0.0100% | 8h | 85,783.2 | +0.058% | $155.9M | $552.3M | — | as long as short |
| edgeX BTCUSDC | +0.0100% | 4h | 85,787.3 | +0.062% | $278.0M | $944.2M | 100x | as long as short |
| GRVT BTC_USDT_Perp | +0.0100% | 8h | 85,857.1 | +0.144% | $215.7M | $163.7M | 50x | as long as short |
| StandX BTC-USD | +0.0100% | 1h | 85,750 | +0.019% | $30.3M | $207.5M | 40x | as long as short |
| Vest BTC-PERP | +0.0100% | 1h | 85,816.9 | +0.097% | — | $11.8M | 50x | as long as short |
| Polymarket Perps BTC-USD | +0.0100% | 1h | 85,769 | +0.041% | $11.0M | $14.2M | 50x | as long as short |
| Bullet BTC-USD | +0.0100% | 1h | 85,724 | −0.011% | $191K | $3.3M | 20x | as long as short |
| Orderly PERP_BTC_USDC | +0.0100% | 8h | 85,709 | −0.029% | $2.4M | $9.1M | 100x | as long as short |
| Bluefin BTC-PERP | +0.0100% | 1h | 85,750.7 | +0.020% | $186K | $709K | 40x | as long as short |
| Derive BTC-PERP | +0.0100% | 1h | 85,719.8 | −0.016% | $30.0M | $57.4M | 15x | as long as short |
| SunX BTC-USDT | +0.0100% | 8h | 85,714.7 | −0.022% | $2.9M | $6.6M | 100x | as long as short |
| SoDEX BTC-USD | +0.0100% | 1h | 85,701 | −0.038% | $60.0M | $337.9M | 40x | as long as short |
| Phemex BTCUSDT | +0.0100% | 8h | 85,700.2 | −0.039% | $154.0M | $478.2M | 150x | as long as short |
| Bulk BTC-USD | +0.0100% | 1h | 85,804.9 | +0.083% | $582.3M | $118.5M | 40x | as long as short |
| Deribit BTC-PERPETUAL | +0.0103% | 1h | 85,741.4 | +0.009% | $895.5M | $1.54B | 50x | as long as short |
| Extended BTC-USDshort | +0.0104% | 1h | 85,737.9 | +0.005% | $45.0M | $227.4M | 50x | |
| Jupiter Perps WBTC-PERP | L +0.0104% / S +0.0056% | 1h | 85,756.9 | +0.027% | — | $101.4M | 500x | as long as short |
| Coinbase International BTC-PERP-INTXlong | +0.0112% | 1h | 85,733.8 | long leg | $131.6M | $5.25B | 50x | |
| Hibachi BTC/USDT-P | +0.0128% | 1h | 85,807.1 | +0.086% | $707K | $7.9M | 30x | as long as short |
| Kraken Futures PF_XBTUSD | +0.0146% | 1h | 85,720.7 | −0.015% | $188.8M | $970.4M | 100x | as long as short |
| Aftermath Perps BTCUSD | +0.0151% | 1h | 85,814.1 | +0.094% | $77K | $217K | 20x | as long as short |
| GMX BTC/USD [WBTC.b-USDC] | L +0.0204% / S −0.0194% | 1h | 85,725 | −0.010% | $13.8M | — | 200x | as long as short |
| Kalshi KXBTCPERP | +0.0205% | 8h | 85,762 | +0.033% | $9.9M | $769.4M | 6.4x | as long as short |
RISEx BTC/USDC
BingX BTC-USDC
Reya BTCRUSDPERP
Bitget BTCUSDT
ApeX Omni BTCUSDT
HTX BTC-USDT
Nado BTC-PERP
Aevo BTC-PERP
Binance BTCUSDT
MEXC BTC_USDT
Gate BTC_USDT
Lighter BTC
Lighter RH BTC
Popdex BTCUSDT
Katana Perps BTC-USD
Paradex BTC-USD-PERP
Hyperliquid BTC
Pacifica BTC
Bybit BTCUSDT
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
SoDEX BTC-USD
Phemex BTCUSDT
Bulk BTC-USD
Deribit BTC-PERPETUAL
Jupiter Perps WBTC-PERP
Hibachi BTC/USDT-P
Kraken Futures PF_XBTUSD
Aftermath Perps BTCUSD
GMX BTC/USD [WBTC.b-USDC]
Kalshi KXBTCPERP