BTC

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0004%/8h= −0.4% APRnext payment −$0.00 per $10,000 · paid last 24h −0.021%

Price spread now: SoDEX against Coinbase International−0.038%7-day average −0.048% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$17as in the Price arb table

costs, in and out, $10k−$180.181% of the position

Long on Coinbase International Short on SoDEX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.042%−$4 on $10k

Price spread, last 4 days (all we have)−0.009%−$1 · spread now −0.038%, 7d avg −0.048%

Together, before fees−0.052%−$5 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International BTC-PERP-INTX	85,200	0.0104	pay 0.0013% / 1h	25m 10s	$111.4M	$5.47B	50x
Short	SoDEX BTC-USD	85,168	0.0100	get 0.0013% / 1h	25m 10s	$59.7M	$336.6M	40x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SoDEX 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 it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee Coinbase InternationalbpFee SoDEXbpOrdersPrice spread, now −0.038%Rate

Funding earned: −$0.84
Price spread: −0.038% → −0.048%: $1.02
Slippage, 4 orders: −$0.13
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee SoDEX: 4 bp × 2 orders: −$8
Net: −$17.95
Costs to cover: 0.181%
Break-even: never at this rate

Slippage from Coinbase International: live order book, 4 min ago; SoDEX: 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 Coinbase International live order book, 4 min ago	0.01 bp	5.0 bp −$5	5.0 bp −$50	5.4 bp −$537	10.7 bp −$5,369
Sell SoDEX live order book, 4 min ago	0.06 bp	4.1 bp −$4	4.1 bp −$41	5.1 bp −$514	44.3 bp −$22.2K

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
Hotstuff BTC-PERP	−0.0080%	1h	85,209	+0.011%	$8K	$3K	50x	as long as short
Phoenix BTC	−0.0034%	1h	85,296	+0.113%	$2.3M	$10.8M	40x	as long as short
BloFin BTC-USDT	−0.0021%	8h	85,180.8	−0.023%	$421.6M	$683.9M	150x	as long as short
KuCoin XBTUSDTM	−0.0020%	8h	85,167.8	−0.038%	$927.3M	$777.4M	125x	as long as short
Aster BTCUSDT	−0.0003%	8h	85,164.6	−0.042%	$509.0M	$1.09B	200x	as long as short
01 Exchange BTCUSD	0.0000%	1h	85,206.4	+0.008%	$342K	$2.3M	50x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0004% / S −0.0004%	1h	85,188.3	−0.014%	$36.4M	—	200x	as long as short
dYdX BTC-USD	+0.0006%	1h	85,223.4	+0.027%	$16.7M	$21.0M	50x	as long as short
Kraken Futures PF_XBTUSD	+0.0026%	1h	85,176.3	−0.028%	$185.6M	$955.2M	100x	as long as short
ApeX Omni BTCUSDT	+0.0040%	1h	85,299.6	+0.117%	$139.7M	$312.6M	100x	as long as short

Show all 56 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX BTC-USDC	+0.0064%	8h	85,142	−0.068%	—	$17.4M	—	as long as short
Injective BTC/USDC PERP	+0.0067%	1h	85,248	+0.056%	$302K	$25.3M	52x	as long as short
Bybit BTCUSDT	+0.0080%	8h	85,159.8	−0.047%	$5.11B	$10.02B	150x	as long as short
Nado BTC-PERP	+0.0081%	1h	85,186.5	−0.016%	$24.0M	$220.7M	50x	as long as short
Bitget BTCUSDT	+0.0094%	8h	85,166.3	−0.040%	$2.97B	$5.19B	150x	as long as short
Lighter BTC	+0.0096%	1h	85,178.1	−0.026%	$168.4M	$1.02B	50x	as long as short
Lighter RH BTC	+0.0096%	1h	85,177.7	−0.026%	$23.6M	$148.6M	50x	as long as short
Popdex BTCUSDT	+0.0096%	1h	85,183	−0.020%	$8.4M	$57.6M	100x	as long as short
Aevo BTC-PERP	+0.0096%	1h	85,165.1	−0.041%	$2.4M	$6.7M	20x	as long as short
MEXC BTC_USDT	+0.0099%	8h	85,170.5	−0.035%	$5.04B	$5.75B	500x	as long as short
Binance BTCUSDT	+0.0099%	8h	85,168	−0.038%	$9.37B	$25.13B	150x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	85,157	−0.050%	$269K	$8.7M	50x	as long as short
Paradex BTC-USD-PERP	+0.0100%	8h	85,225	+0.029%	$5.8M	$9.5M	50x	as long as short
Hyperliquid BTC	+0.0100%	1h	85,241	+0.048%	$3.75B	$5.09B	40x	as long as short
Pacifica BTC	+0.0100%	1h	85,207.2	+0.009%	$40.3M	$606.1M	50x	as long as short
OKX BTC-USDT-SWAP	+0.0100%	8h	85,167.1	−0.039%	$2.59B	$12.23B	100x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	85,183	−0.020%	$3.8M	$17.3M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	85,198.5	−0.002%	$4.6M	$97.2M	40x	as long as short
Bulk BTC-USD	+0.0100%	1h	85,294.4	+0.111%	$693.5M	$241.4M	40x	as long as short
Gate BTC_USDT	+0.0100%	8h	85,168.5	−0.037%	$5.47B	$11.11B	200x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	85,158.9	−0.048%	$36.9M	$187.8M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	85,162.5	−0.044%	$155.8M	$550.5M	—	as long as short
edgeX BTCUSDC	+0.0100%	4h	85,270.9	+0.083%	$282.8M	$955.6M	100x	as long as short
GRVT BTC_USDT_Perp	+0.0100%	8h	85,278	+0.092%	$214.2M	$159.0M	50x	as long as short
StandX BTC-USD	+0.0100%	1h	85,260.1	+0.070%	$30.0M	$211.6M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	85,249.6	+0.058%	—	$10.6M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	85,183	−0.020%	$10.9M	$14.9M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	85,180.6	−0.023%	$197K	$3.3M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	85,172.5	−0.032%	$2.6M	$9.8M	100x	as long as short
Bluefin BTC-PERP	+0.0100%	1h	85,195.5	−0.005%	$193K	$796K	40x	as long as short
Derive BTC-PERP	+0.0100%	1h	85,151.4	−0.057%	$29.7M	$45.7M	15x	as long as short
SunX BTC-USDT	+0.0100%	8h	85,175.4	−0.029%	$2.9M	$6.1M	100x	as long as short
SoDEX BTC-USDshort	+0.0100%	1h	85,168	−0.038%	$59.7M	$336.6M	40x
HTX BTC-USDT	+0.0100%	8h	85,169.8	−0.035%	$2.25B	$970.2M	200x	as long as short
Phemex BTCUSDT	+0.0100%	8h	85,173.3	−0.031%	$158.8M	$516.2M	150x	as long as short
Extended BTC-USD	+0.0104%	1h	85,145.3	−0.064%	$45.4M	$241.5M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0056%	1h	85,186	−0.016%	—	$106.6M	500x	as long as short
Coinbase International BTC-PERP-INTXlong	+0.0104%	1h	85,200	long leg	$111.4M	$5.47B	50x
Reya BTCRUSDPERP	+0.0140%	1h	85,170.4	−0.035%	$6.6M	$144.1M	40x	as long as short
Kalshi KXBTCPERP	+0.0171%	8h	85,201	+0.001%	$12.0M	$737.2M	6.4x	as long as short
RISEx BTC/USDC	+0.0174%	1h	85,200.1	0.000%	$8.8M	$42.9M	25x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0175% / S −0.0147%	1h	85,186.4	−0.016%	$13.0M	—	200x	as long as short
Deribit BTC-PERPETUAL	+0.0183%	1h	85,212.2	+0.014%	$841.0M	$1.66B	50x	as long as short
Hibachi BTC/USDT-P	+0.0216%	1h	85,233.6	+0.039%	$681K	$7.7M	30x	as long as short
Aftermath Perps BTCUSD	+0.0291%	1h	85,255	+0.065%	$81K	$254K	20x	as long as short
Perpl BTC	+0.0447%	43m	85,196.1	−0.005%	$457K	$18.4M	6.7x	as long as short