Funding you earn now, next payment 06:00 UTC+0.0065%/8h= +7.1% APRnext payment +$0.08 per $10,000 · paid last 24h +0.031%
Price spread now: Bullet against dYdX−0.025%7-day average +0.010% · 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−$38as in the Price arb table
costs, in and out, $10k−$340.342% of the position
Funding, last 3 days (all we have)+0.092%+$9 on $10k
+Price spread, last 7 days0.000%$0 · spread now −0.025%, 7d avg +0.010%
=Funding pays, the price is against you. Bullet is 0.036% cheaper against dYdX than usual: you would sell low and buy high (spread −0.025% now, against its 7-day average of +0.010%). If the spread goes back, that is −$4 on $10k: about 44 hours of funding at the current rate (+$2 a day).
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | dYdX BTC-USD | 85,452.6 | 0.0002 | pay 0.0000% / 1h | 48m 41s | $16.8M | $21.3M | 50x |
| Short | Bullet BTC-USD | 85,431 | 0.0067 | get 0.0008% / 1h | 48m 41s | $203K | $3.3M | 20x |
dYdX BTC-USD
Bullet BTC-USDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Bullet against dYdX. 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
- $13.59
- Price spread: −0.025% → +0.010%
- −$3.57
- Slippage, 4 orders
- −$16.16
- Fee dYdX: 5 bp × 2 orders
- −$10
- Fee Bullet: 4 bp × 2 orders
- −$8
- Net
- −$24.14
- Costs to cover
- 0.342%
- Break-even
- 19.4 days
Slippage from dYdX: live order book, 5 min ago; Bullet: live order book, 6 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 dYdX live order book, 5 min ago | 4.45 bp | 15.4 bp −$15 | 17.7 bp −$177 | 21.9 bp −$2,188 | 52.6 bp −$26.3K |
| Sell Bullet live order book, 6 min ago | 0.23 bp | 4.9 bp −$5 | 8.1 bp −$81 | doesn't fit | doesn't fit |
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 | −0.0111% | 1h | 85,432 | −0.024% | $2.1M | $10.4M | 40x | as long as short |
| Hotstuff BTC-PERP | −0.0080% | 1h | 85,459 | +0.007% | $8K | $3K | 50x | as long as short |
| KuCoin XBTUSDTM | −0.0054% | 8h | 85,435 | −0.021% | $921.1M | $760.8M | 125x | as long as short |
| 01 Exchange BTCUSD | −0.0032% | 1h | 85,469.9 | +0.020% | $381K | $2.3M | 50x | as long as short |
| BloFin BTC-USDT | −0.0030% | 8h | 85,428.7 | −0.028% | $420.6M | $676.4M | 150x | as long as short |
| Aster BTCUSDT | −0.0011% | 8h | 85,462.3 | +0.011% | $514.1M | $1.10B | 200x | as long as short |
| Perpl BTC | 0.0000% | 43m | 85,435.4 | −0.020% | $532K | $18.8M | 6.7x | as long as short |
| dYdX BTC-USDlong | +0.0002% | 1h | 85,452.6 | long leg | $16.8M | $21.3M | 50x | |
| gTrade (Gains Network) BTC/USD | L +0.0004% / S −0.0004% | 1h | 85,447.4 | −0.006% | $36.5M | — | 200x | as long as short |
| Nado BTC-PERP | +0.0009% | 1h | 85,445 | −0.009% | $24.6M | $223.8M | 50x | as long as short |
Phoenix BTC
Hotstuff BTC-PERP
KuCoin XBTUSDTM
01 Exchange BTCUSD
BloFin BTC-USDT
Aster BTCUSDT
Perpl BTC
gTrade (Gains Network) BTC/USD
Nado BTC-PERPShow all 56 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Injective BTC/USDC PERP | +0.0023% | 1h | 85,449 | −0.004% | $339K | $26.8M | 52x | as long as short |
| Kraken Futures PF_XBTUSD | +0.0056% | 1h | 85,441.7 | −0.013% | $187.6M | $954.6M | 100x | as long as short |
| BingX BTC-USDC | +0.0064% | 8h | 85,444.9 | −0.009% | — | $17.3M | — | as long as short |
| Bullet BTC-USDshort | +0.0067% | 1h | 85,431 | −0.025% | $203K | $3.3M | 20x | |
| Phemex BTCUSDT | +0.0071% | 8h | 85,431.1 | −0.025% | $149.4M | $500.8M | 150x | as long as short |
| ApeX Omni BTCUSDT | +0.0076% | 1h | 85,463 | +0.012% | $139.7M | $315.4M | 100x | as long as short |
| Bitget BTCUSDT | +0.0081% | 8h | 85,467.1 | +0.017% | $2.96B | $5.15B | 150x | as long as short |
| SoDEX BTC-USD | +0.0083% | 1h | 85,426 | −0.031% | $59.9M | $335.9M | 40x | as long as short |
| Aevo BTC-PERP | +0.0088% | 1h | 85,424.5 | −0.033% | $2.4M | $6.7M | 20x | as long as short |
| MEXC BTC_USDT | +0.0090% | 8h | 85,456.5 | +0.005% | $5.08B | $5.67B | 500x | as long as short |
| Binance BTCUSDT | +0.0090% | 8h | 85,463 | +0.012% | $9.44B | $24.71B | 150x | as long as short |
| Lighter BTC | +0.0096% | 1h | 85,457.4 | +0.006% | $171.9M | $1.01B | 50x | as long as short |
| Lighter RH BTC | +0.0096% | 1h | 85,459 | +0.007% | $23.9M | $147.3M | 50x | as long as short |
| Popdex BTCUSDT | +0.0096% | 1h | 85,469 | +0.019% | $8.4M | $55.4M | 100x | as long as short |
| Coinbase International BTC-PERP-INTX | +0.0096% | 1h | 85,459.9 | +0.009% | $117.0M | $5.31B | 50x | as long as short |
| Katana Perps BTC-USD | +0.0100% | 8h | 85,440 | −0.015% | $238K | $8.5M | 50x | as long as short |
| Paradex BTC-USD-PERP | +0.0100% | 8h | 85,507 | +0.064% | $5.6M | $9.4M | 50x | as long as short |
| Hyperliquid BTC | +0.0100% | 1h | 85,526 | +0.086% | $3.78B | $5.03B | 40x | as long as short |
| Pacifica BTC | +0.0100% | 1h | 85,478.7 | +0.030% | $40.1M | $595.0M | 50x | as long as short |
| Bybit BTCUSDT | +0.0100% | 8h | 85,457.5 | +0.006% | $5.18B | $9.89B | 150x | as long as short |
| OKX BTC-USDT-SWAP | +0.0100% | 8h | 85,465.9 | +0.016% | $2.59B | $12.14B | 100x | as long as short |
| Ondo Perps BTC-USD.P | +0.0100% | 1h | 85,460 | +0.009% | $3.8M | $17.6M | 25x | as long as short |
| Arcus BTC-USD | +0.0100% | 1h | 85,469.7 | +0.020% | $4.7M | $99.0M | 40x | as long as short |
| Gate BTC_USDT | +0.0100% | 8h | 85,466.7 | +0.016% | $5.54B | $10.81B | 200x | as long as short |
| Backpack BTC_USDC_PERP | +0.0100% | 1h | 85,418.7 | −0.040% | $36.6M | $175.3M | 75x | as long as short |
| Variational Omni BTC | +0.0100% | 8h | 85,453.4 | +0.001% | $154.3M | $564.8M | — | as long as short |
| edgeX BTCUSDC | +0.0100% | 4h | 85,371.3 | −0.095% | $279.2M | $937.7M | 100x | as long as short |
| GRVT BTC_USDT_Perp | +0.0100% | 8h | 85,475.7 | +0.027% | $214.8M | $169.0M | 50x | as long as short |
| StandX BTC-USD | +0.0100% | 1h | 85,466.1 | +0.016% | $30.1M | $206.2M | 40x | as long as short |
| Vest BTC-PERP | +0.0100% | 1h | 85,504.5 | +0.061% | — | $10.9M | 50x | as long as short |
| Polymarket Perps BTC-USD | +0.0100% | 1h | 85,432 | −0.024% | $11.1M | $14.4M | 50x | as long as short |
| Orderly PERP_BTC_USDC | +0.0100% | 8h | 85,428 | −0.029% | $2.5M | $8.8M | 100x | as long as short |
| Bluefin BTC-PERP | +0.0100% | 1h | 85,485.9 | +0.039% | $207K | $738K | 40x | as long as short |
| Derive BTC-PERP | +0.0100% | 1h | 85,412.8 | −0.047% | $30.0M | $50.3M | 15x | as long as short |
| SunX BTC-USDT | +0.0100% | 8h | 85,423.1 | −0.035% | $2.9M | $6.1M | 100x | as long as short |
| HTX BTC-USDT | +0.0100% | 8h | 85,425.5 | −0.032% | $2.26B | $952.0M | 200x | as long as short |
| Bulk BTC-USD | +0.0100% | 1h | 85,429 | −0.028% | $679.8M | $655.7M | 40x | as long as short |
| Extended BTC-USD | +0.0104% | 1h | 85,439.8 | −0.015% | $45.7M | $236.1M | 50x | as long as short |
| Jupiter Perps WBTC-PERP | L +0.0104% / S +0.0048% | 1h | 85,457.5 | +0.006% | — | $106.8M | 500x | as long as short |
| Reya BTCRUSDPERP | +0.0109% | 1h | 85,427.1 | −0.030% | $6.6M | $147.3M | 40x | as long as short |
| Deribit BTC-PERPETUAL | +0.0147% | 1h | 85,472.6 | +0.023% | $872.2M | $1.60B | 50x | as long as short |
| Kalshi KXBTCPERP | +0.0174% | 8h | 85,470 | +0.020% | $11.4M | $750.0M | 6.4x | as long as short |
| GMX BTC/USD [WBTC.b-USDC] | L +0.0176% / S −0.0151% | 1h | 85,445.7 | −0.008% | $13.0M | — | 200x | as long as short |
| Aftermath Perps BTCUSD | +0.0237% | 1h | 85,472.2 | +0.023% | $78K | $225K | 20x | as long as short |
| Hibachi BTC/USDT-P | +0.0240% | 1h | 85,506.5 | +0.063% | $695K | $7.9M | 30x | as long as short |
| RISEx BTC/USDC | +0.0257% | 1h | 85,500.1 | +0.056% | $8.8M | $43.1M | 25x | as long as short |
Injective BTC/USDC PERP
Kraken Futures PF_XBTUSD
BingX BTC-USDC
Phemex BTCUSDT
ApeX Omni BTCUSDT
Bitget BTCUSDT
SoDEX BTC-USD
Aevo BTC-PERP
MEXC BTC_USDT
Binance BTCUSDT
Lighter BTC
Lighter RH BTC
Popdex BTCUSDT
Coinbase International BTC-PERP-INTX
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
Gate BTC_USDT
Backpack BTC_USDC_PERP
Variational Omni BTC
edgeX BTCUSDC
GRVT BTC_USDT_Perp
StandX BTC-USD
Vest BTC-PERP
Polymarket Perps BTC-USD
Orderly PERP_BTC_USDC
Bluefin BTC-PERP
Derive BTC-PERP
SunX BTC-USDT
HTX BTC-USDT
Bulk BTC-USD
Extended BTC-USD
Jupiter Perps WBTC-PERP
Reya BTCRUSDPERP
Deribit BTC-PERPETUAL
Kalshi KXBTCPERP
GMX BTC/USD [WBTC.b-USDC]
Aftermath Perps BTCUSD
Hibachi BTC/USDT-P
RISEx BTC/USDC