Funding you earn now, next payment 21:00 UTC−0.0200%/8h= −21.9% APRnext payment −$0.25 per $10,000 · paid last 24h −0.062%
Price spread now: Hotstuff against Coinbase International−0.081%7-day average — · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 3 days (all we have)—no history yet
+Price spread, last 7 days—no price history on both exchanges yet
=Both sides work against this trade now: funding costs −$6 a day on $10k at the current rate, and Hotstuff is 0.081% cheaper against Coinbase International than usual: you would sell low and buy high (−$8 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Coinbase International BTC-PERP-INTX | 86,738.2 | 0.0120 | pay 0.0015% / 1h | 11m 50s | $131.8M | $5.84B | 50x |
| Short | Hotstuff BTC-PERP | 86,668 | −0.0080 | pay 0.0010% / 1h | 11m 50s | $9K | $3K | 50x |
Coinbase International BTC-PERP-INTX
Hotstuff BTC-PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Hotstuff 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
- −$42
- Price spread: −0.081% → 0.000%
- −$8.09
- Slippage, 4 orders
- no order book: not counted
- Fee Coinbase International: 5 bp × 2 orders
- −$10
- Fee Hotstuff: 2.5 bp × 2 orders
- −$5
- Net
- −$65.09
- Costs to cover
- 0.150%
- Break-even
- never at this rate
Slippage unknown: Coinbase International: live order book, 2 min ago; Hotstuff: no order-book sample. Net counts fees only.
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, 2 min ago | 0.01 bp | 5.1 bp −$5 | 5.4 bp −$54 | 6.7 bp −$670 | 16.3 bp −$8,163 |
| Sell Hotstuff no order-book sample | — | — | — | — | — |
Hotstuff: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.
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 | |
|---|---|---|---|---|---|---|---|---|
| Aftermath Perps BTCUSD | −0.0245% | 1h | 86,738.5 | 0.000% | $85K | $188K | 20x | as long as short |
| Perpl BTC | −0.0223% | 43m | 86,697 | −0.047% | $425K | $24.6M | 6.7x | as long as short |
| Phoenix BTC | −0.0103% | 1h | 86,739 | +0.001% | $2.2M | $12.4M | 40x | as long as short |
| Hotstuff BTC-PERPshort | −0.0080% | 1h | 86,668 | −0.081% | $9K | $3K | 50x | |
| dYdX BTC-USD | −0.0063% | 1h | 86,692.6 | −0.053% | $17.6M | $20.6M | 50x | as long as short |
| 01 Exchange BTCUSD | 0.0000% | 1h | 86,704.4 | −0.039% | $362K | $2.4M | 50x | as long as short |
| Deribit BTC-PERPETUAL | 0.0000% | 1h | 86,724.8 | −0.015% | $929.4M | $1.47B | 50x | as long as short |
| gTrade (Gains Network) BTC/USD | L +0.0005% / S −0.0004% | 1h | 86,709.1 | −0.034% | $36.9M | — | 200x | as long as short |
| Aster BTCUSDT | +0.0005% | 8h | 86,668.1 | −0.081% | $506.0M | $1.16B | 200x | as long as short |
| KuCoin XBTUSDTM | +0.0006% | 8h | 86,676.7 | −0.071% | $849.8M | $707.8M | 125x | as long as short |
Aftermath Perps BTCUSD
Perpl BTC
Phoenix BTC
dYdX BTC-USD
01 Exchange BTCUSD
Deribit BTC-PERPETUAL
gTrade (Gains Network) BTC/USD
Aster BTCUSDT
KuCoin XBTUSDTMShow all 56 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Reya BTCRUSDPERP | +0.0022% | 1h | 86,681.6 | −0.065% | $6.7M | $144.4M | 40x | as long as short |
| BingX BTC-USDC | +0.0028% | 8h | 86,672.3 | −0.076% | — | $15.3M | — | as long as short |
| Phemex BTCUSDT | +0.0028% | 8h | 86,682.5 | −0.064% | $150.2M | $472.1M | 150x | as long as short |
| Bitget BTCUSDT | +0.0036% | 8h | 86,680.1 | −0.067% | $2.96B | $5.09B | 150x | as long as short |
| Injective BTC/USDC PERP | +0.0049% | 1h | 86,752 | +0.016% | $315K | $26.8M | 52x | as long as short |
| Binance BTCUSDT | +0.0061% | 8h | 86,682.4 | −0.064% | $9.43B | $24.37B | 150x | as long as short |
| MEXC BTC_USDT | +0.0061% | 8h | 86,682.5 | −0.064% | $5.19B | $5.71B | 500x | as long as short |
| RISEx BTC/USDC | +0.0063% | 1h | 86,696 | −0.049% | $9.3M | $41.9M | 25x | as long as short |
| Aevo BTC-PERP | +0.0064% | 1h | 86,682.4 | −0.064% | $2.4M | $1.3M | 20x | as long as short |
| Gate BTC_USDT | +0.0082% | 8h | 86,679.1 | −0.068% | $5.85B | $10.69B | 200x | as long as short |
| Bybit BTCUSDT | +0.0084% | 8h | 86,681.1 | −0.066% | $5.28B | $9.72B | 150x | as long as short |
| OKX BTC-USDT-SWAP | +0.0091% | 8h | 86,687.3 | −0.059% | $2.56B | $12.74B | 100x | as long as short |
| Lighter BTC | +0.0096% | 1h | 86,699.9 | −0.044% | $172.0M | $1.02B | 50x | as long as short |
| Lighter RH BTC | +0.0096% | 1h | 86,704.9 | −0.038% | $24.1M | $154.2M | 50x | as long as short |
| Popdex BTCUSDT | +0.0096% | 1h | 86,682 | −0.065% | $8.5M | $52.3M | 100x | as long as short |
| Katana Perps BTC-USD | +0.0100% | 8h | 86,672 | −0.076% | $201K | $6.8M | 50x | as long as short |
| Paradex BTC-USD-PERP | +0.0100% | 8h | 86,729.2 | −0.010% | $4.8M | $8.2M | 50x | as long as short |
| Nado BTC-PERP | +0.0100% | 1h | 86,670.7 | −0.078% | $21.7M | $235.4M | 50x | as long as short |
| Hyperliquid BTC | +0.0100% | 1h | 86,759 | +0.024% | $3.82B | $5.12B | 40x | as long as short |
| Pacifica BTC | +0.0100% | 1h | 86,717.1 | −0.024% | $41.0M | $494.9M | 50x | as long as short |
| Ondo Perps BTC-USD.P | +0.0100% | 1h | 86,680 | −0.067% | $3.9M | $18.6M | 25x | as long as short |
| Arcus BTC-USD | +0.0100% | 1h | 86,751.5 | +0.015% | $7.5M | $94.8M | 40x | as long as short |
| Bulk BTC-USD | +0.0100% | 1h | 86,792.1 | +0.062% | $573.3M | $22.0M | 40x | as long as short |
| Backpack BTC_USDC_PERP | +0.0100% | 1h | 86,687.5 | −0.058% | $38.2M | $149.8M | 75x | as long as short |
| Variational Omni BTC | +0.0100% | 8h | 86,796.1 | +0.067% | $159.7M | $566.8M | — | as long as short |
| edgeX BTCUSDC | +0.0100% | 4h | 86,761.4 | +0.027% | $280.3M | $953.0M | 100x | as long as short |
| GRVT BTC_USDT_Perp | +0.0100% | 8h | 86,797.1 | +0.068% | $218.0M | $187.7M | 50x | as long as short |
| ApeX Omni BTCUSDT | +0.0100% | 1h | 86,754.9 | +0.019% | $141.6M | $322.7M | 100x | as long as short |
| StandX BTC-USD | +0.0100% | 1h | 86,730.5 | −0.009% | $30.8M | $203.8M | 40x | as long as short |
| Vest BTC-PERP | +0.0100% | 1h | 86,744.4 | +0.007% | — | $11.6M | 50x | as long as short |
| Polymarket Perps BTC-USD | +0.0100% | 1h | 86,684 | −0.062% | $11.1M | $13.7M | 50x | as long as short |
| Bullet BTC-USD | +0.0100% | 1h | 86,686 | −0.060% | $196K | $3.4M | 20x | as long as short |
| Orderly PERP_BTC_USDC | +0.0100% | 8h | 86,697.9 | −0.046% | $2.4M | $8.6M | 100x | as long as short |
| Bluefin BTC-PERP | +0.0100% | 1h | 86,707.2 | −0.036% | $141K | $619K | 40x | as long as short |
| Derive BTC-PERP | +0.0100% | 1h | 86,696.2 | −0.048% | $30.0M | $61.8M | 15x | as long as short |
| SunX BTC-USDT | +0.0100% | 8h | 86,686.9 | −0.059% | $3.4M | $5.5M | 100x | as long as short |
| SoDEX BTC-USD | +0.0100% | 1h | 86,682 | −0.065% | $60.6M | $336.6M | 40x | as long as short |
| HTX BTC-USDT | +0.0100% | 8h | 86,670.8 | −0.078% | $2.30B | $959.5M | 200x | as long as short |
| Extended BTC-USD | +0.0104% | 1h | 86,672.8 | −0.075% | $46.4M | $226.7M | 50x | as long as short |
| Jupiter Perps WBTC-PERP | L +0.0104% / S +0.0048% | 1h | 86,733.8 | −0.005% | — | $98.8M | 500x | as long as short |
| Kraken Futures PF_XBTUSD | +0.0116% | 1h | 86,721.8 | −0.019% | $188.0M | $934.0M | 100x | as long as short |
| Coinbase International BTC-PERP-INTXlong | +0.0120% | 1h | 86,738.2 | long leg | $131.8M | $5.84B | 50x | |
| Kalshi KXBTCPERP | +0.0163% | 8h | 86,729 | −0.011% | $9.6M | $727.6M | 6.4x | as long as short |
| GMX BTC/USD [WBTC.b-USDC] | L +0.0180% / S −0.0209% | 1h | 86,705.5 | −0.038% | $15.0M | — | 200x | as long as short |
| BloFin BTC-USDT | +0.0181% | 8h | 86,700 | −0.044% | $416.5M | $655.6M | 150x | as long as short |
| Hibachi BTC/USDT-P | +0.0200% | 1h | 86,738.7 | +0.001% | $781K | $7.8M | 30x | as long as short |
Reya BTCRUSDPERP
BingX BTC-USDC
Phemex BTCUSDT
Bitget BTCUSDT
Injective BTC/USDC PERP
Binance BTCUSDT
MEXC BTC_USDT
RISEx BTC/USDC
Aevo BTC-PERP
Gate BTC_USDT
Bybit BTCUSDT
OKX BTC-USDT-SWAP
Lighter BTC
Lighter RH BTC
Popdex BTCUSDT
Katana Perps BTC-USD
Paradex BTC-USD-PERP
Nado BTC-PERP
Hyperliquid BTC
Pacifica BTC
Ondo Perps BTC-USD.P
Arcus BTC-USD
Bulk BTC-USD
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
Bluefin BTC-PERP
Derive BTC-PERP
SunX BTC-USDT
SoDEX BTC-USD
HTX BTC-USDT
Extended BTC-USD
Jupiter Perps WBTC-PERP
Kraken Futures PF_XBTUSD
Kalshi KXBTCPERP
GMX BTC/USD [WBTC.b-USDC]
BloFin BTC-USDT
Hibachi BTC/USDT-P