Funding you earn now, next payment 23:00 UTC−0.0094%/8h= −10.3% APRnext payment −$0.12 per $10,000 · paid last 24h −0.083%
Price spread now: Hotstuff against Deribit−0.034%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 −$3 a day on $10k at the current rate, and Hotstuff is 0.034% cheaper against Deribit than usual: you would sell low and buy high (−$3 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 | Deribit BTC-PERPETUAL | 86,501.4 | 0.0014 | pay 0.0002% / 1h | 19m 00s | $920.9M | $1.48B | 50x |
| Short | Hotstuff BTC-PERP | 86,472 | −0.0080 | pay 0.0010% / 1h | 19m 00s | $9K | $3K | 50x |
Deribit BTC-PERPETUAL
Hotstuff BTC-PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Hotstuff against Deribit. 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
- −$19.74
- Price spread: −0.034% → 0.000%
- −$3.4
- Slippage, 4 orders
- no order book: not counted
- Fee Deribit: 3.5 bp × 2 orders
- −$7
- Fee Hotstuff: 2.5 bp × 2 orders
- −$5
- Net
- −$35.14
- Costs to cover
- 0.120%
- Break-even
- never at this rate
Slippage unknown: Deribit: live order book, 5 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 Deribit live order book, 5 min ago | 0.03 bp | 3.5 bp −$4 | 4.1 bp −$41 | 7.5 bp −$750 | 11.6 bp −$5,810 |
| 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 | |
|---|---|---|---|---|---|---|---|---|
| Bluefin BTC-PERP | −0.0860% | 1h | 86,490.3 | −0.013% | $140K | $620K | 40x | as long as short |
| Phoenix BTC | −0.0159% | 1h | 86,503 | +0.002% | $2.2M | $11.8M | 40x | as long as short |
| Hotstuff BTC-PERPshort | −0.0080% | 1h | 86,472 | −0.034% | $9K | $3K | 50x | |
| Aster BTCUSDT | −0.0009% | 8h | 86,461.6 | −0.046% | $504.2M | $1.15B | 200x | as long as short |
| 01 Exchange BTCUSD | −0.0008% | 1h | 86,467 | −0.040% | $358K | $2.4M | 50x | as long as short |
| Perpl BTC | 0.0000% | 43m | 86,482 | −0.022% | $424K | $23.7M | 6.7x | as long as short |
| Aftermath Perps BTCUSD | 0.0000% | 1h | 86,527.9 | +0.031% | $82K | $217K | 20x | as long as short |
| KuCoin XBTUSDTM | +0.0002% | 8h | 86,464.7 | −0.042% | $851.0M | $711.6M | 125x | as long as short |
| dYdX BTC-USD | +0.0004% | 1h | 86,497.2 | −0.005% | $17.0M | $21.1M | 50x | as long as short |
| gTrade (Gains Network) BTC/USD | L +0.0005% / S −0.0004% | 1h | 86,498.3 | −0.004% | $36.8M | — | 200x | as long as short |
Bluefin BTC-PERP
Phoenix BTC
Aster BTCUSDT
01 Exchange BTCUSD
Perpl BTC
Aftermath Perps BTCUSD
KuCoin XBTUSDTM
dYdX BTC-USD
gTrade (Gains Network) BTC/USDShow all 56 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| RISEx BTC/USDC | +0.0006% | 1h | 86,471.6 | −0.035% | $8.5M | $43.0M | 25x | as long as short |
| Deribit BTC-PERPETUALlong | +0.0014% | 1h | 86,501.4 | long leg | $920.9M | $1.48B | 50x | |
| Reya BTCRUSDPERP | +0.0023% | 1h | 86,474.2 | −0.031% | $6.7M | $145.0M | 40x | as long as short |
| Injective BTC/USDC PERP | +0.0024% | 1h | 86,559 | +0.067% | $315K | $26.8M | 52x | as long as short |
| Phemex BTCUSDT | +0.0034% | 8h | 86,466 | −0.041% | $149.8M | $476.9M | 150x | as long as short |
| BingX BTC-USDT | +0.0035% | 8h | 86,472.7 | −0.033% | — | $1.59B | — | as long as short |
| Bitget BTCUSDT | +0.0045% | 8h | 86,460.5 | −0.047% | $2.95B | $5.10B | 150x | as long as short |
| MEXC BTC_USDT | +0.0064% | 8h | 86,472.6 | −0.033% | $5.14B | $5.69B | 500x | as long as short |
| Aevo BTC-PERP | +0.0064% | 1h | 86,468 | −0.039% | $2.4M | $1.3M | 20x | as long as short |
| Binance BTCUSDT | +0.0064% | 8h | 86,466.4 | −0.041% | $9.43B | $24.42B | 150x | as long as short |
| Gate BTC_USDT | +0.0079% | 8h | 86,465.7 | −0.041% | $5.85B | $10.73B | 200x | as long as short |
| Hibachi BTC/USDT-P | +0.0088% | 1h | 86,561.8 | +0.070% | $717K | $8.2M | 30x | as long as short |
| Bybit BTCUSDT | +0.0092% | 8h | 86,463.7 | −0.044% | $5.25B | $9.77B | 150x | as long as short |
| Lighter BTC | +0.0096% | 1h | 86,481.5 | −0.023% | $170.5M | $1.01B | 50x | as long as short |
| Lighter RH BTC | +0.0096% | 1h | 86,492 | −0.011% | $24.1M | $152.4M | 50x | as long as short |
| Popdex BTCUSDT | +0.0096% | 1h | 86,468 | −0.039% | $8.5M | $52.4M | 100x | as long as short |
| Katana Perps BTC-USD | +0.0100% | 8h | 86,443 | −0.068% | $205K | $6.9M | 50x | as long as short |
| Paradex BTC-USD-PERP | +0.0100% | 8h | 86,509.8 | +0.010% | $4.8M | $8.5M | 50x | as long as short |
| Nado BTC-PERP | +0.0100% | 1h | 86,470.9 | −0.035% | $22.0M | $234.4M | 50x | as long as short |
| Hyperliquid BTC | +0.0100% | 1h | 86,541 | +0.046% | $3.80B | $5.09B | 40x | as long as short |
| Pacifica BTC | +0.0100% | 1h | 86,500.1 | −0.002% | $40.8M | $513.8M | 50x | as long as short |
| OKX BTC-USDT-SWAP | +0.0100% | 8h | 86,468.7 | −0.038% | $2.54B | $12.73B | 100x | as long as short |
| Ondo Perps BTC-USD.P | +0.0100% | 1h | 86,471 | −0.035% | $3.9M | $18.6M | 25x | as long as short |
| Arcus BTC-USD | +0.0100% | 1h | 86,530.2 | +0.033% | $7.4M | $94.3M | 40x | as long as short |
| Bulk BTC-USD | +0.0100% | 1h | 86,498.7 | −0.003% | $571.7M | $18.6M | 40x | as long as short |
| Backpack BTC_USDC_PERP | +0.0100% | 1h | 86,463.1 | −0.044% | $37.8M | $155.1M | 75x | as long as short |
| Variational Omni BTC | +0.0100% | 8h | 86,498.8 | −0.003% | $156.2M | $568.5M | — | as long as short |
| edgeX BTCUSDC | +0.0100% | 4h | 86,531.2 | +0.034% | $279.7M | $948.9M | 100x | as long as short |
| GRVT BTC_USDT_Perp | +0.0100% | 8h | 86,518.2 | +0.019% | $217.2M | $175.8M | 50x | as long as short |
| ApeX Omni BTCUSDT | +0.0100% | 1h | 86,540.1 | +0.045% | $141.5M | $323.4M | 100x | as long as short |
| StandX BTC-USD | +0.0100% | 1h | 86,483 | −0.021% | $30.7M | $203.6M | 40x | as long as short |
| Vest BTC-PERP | +0.0100% | 1h | 86,526 | +0.028% | — | $11.6M | 50x | as long as short |
| Polymarket Perps BTC-USD | +0.0100% | 1h | 86,480 | −0.025% | $11.1M | $13.7M | 50x | as long as short |
| Bullet BTC-USD | +0.0100% | 1h | 86,482 | −0.022% | $190K | $3.3M | 20x | as long as short |
| Orderly PERP_BTC_USDC | +0.0100% | 8h | 86,473.6 | −0.032% | $2.4M | $8.7M | 100x | as long as short |
| Derive BTC-PERP | +0.0100% | 1h | 86,466.1 | −0.041% | $30.3M | $61.6M | 15x | as long as short |
| SunX BTC-USDT | +0.0100% | 8h | 86,463.2 | −0.044% | $3.4M | $5.4M | 100x | as long as short |
| SoDEX BTC-USD | +0.0100% | 1h | 86,467 | −0.040% | $60.4M | $337.2M | 40x | as long as short |
| HTX BTC-USDT | +0.0100% | 8h | 86,466.8 | −0.040% | $2.30B | $968.6M | 200x | as long as short |
| Extended BTC-USD | +0.0104% | 1h | 86,442.2 | −0.068% | $45.5M | $226.1M | 50x | as long as short |
| Jupiter Perps WBTC-PERP | L +0.0104% / S +0.0048% | 1h | 86,478.7 | −0.026% | — | $98.7M | 500x | as long as short |
| Coinbase International BTC-PERP-INTX | +0.0112% | 1h | 86,505 | +0.004% | $131.8M | $5.70B | 50x | as long as short |
| Kraken Futures PF_XBTUSD | +0.0121% | 1h | 86,489.3 | −0.014% | $191.3M | $943.7M | 100x | as long as short |
| BloFin BTC-USDT | +0.0184% | 8h | 86,473.9 | −0.032% | $414.0M | $654.4M | 150x | as long as short |
| GMX BTC/USD [WBTC.b-USDC] | L +0.0185% / S −0.0211% | 1h | 86,490.7 | −0.012% | $15.2M | — | 200x | as long as short |
| Kalshi KXBTCPERP | +0.0198% | 8h | 86,500 | −0.002% | $9.7M | $733.9M | 6.4x | as long as short |
RISEx BTC/USDC
Reya BTCRUSDPERP
Injective BTC/USDC PERP
Phemex BTCUSDT
BingX BTC-USDT
Bitget BTCUSDT
MEXC BTC_USDT
Aevo BTC-PERP
Binance BTCUSDT
Gate BTC_USDT
Hibachi BTC/USDT-P
Bybit BTCUSDT
Lighter BTC
Lighter RH BTC
Popdex BTCUSDT
Katana Perps BTC-USD
Paradex BTC-USD-PERP
Nado BTC-PERP
Hyperliquid BTC
Pacifica BTC
OKX BTC-USDT-SWAP
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
Derive BTC-PERP
SunX BTC-USDT
SoDEX BTC-USD
HTX BTC-USDT
Extended BTC-USD
Jupiter Perps WBTC-PERP
Coinbase International BTC-PERP-INTX
Kraken Futures PF_XBTUSD
BloFin BTC-USDT
GMX BTC/USD [WBTC.b-USDC]
Kalshi KXBTCPERP