Funding you earn now, next payment 09:00 UTC−0.0004%/8h= −0.4% APRnext payment −$0.00 per $10,000 · paid last 24h +0.001%
Price spread now: Bullet against Extended+0.015%7-day average +0.043% · you sell dearer than you buy
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−$140.143% of the position
Funding, last 4 days (all we have)−0.009%−$1 on $10k
+Price spread, last 7 days+0.007%+$1 · spread now +0.015%, 7d avg +0.043%
=Together, before fees−0.001%+ Points / potential airdropExtended: Active · farm board$0 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: Bullet is 0.028% cheaper against Extended than usual: you would sell low and buy high, −$3 on $10k if it goes back to its 7-day average of +0.043%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Extended BTC-USD | 85,446.8 | 0.0104 | pay 0.0013% / 1h | 24m 45s | $45.8M | $237.4M | 50x |
| Short | Bullet BTC-USD | 85,460 | 0.0100 | get 0.0013% / 1h | 24m 45s | $211K | $3.3M | 20x |
Extended BTC-USD
Bullet BTC-USDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Bullet against Extended. 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
- −$0.84
- Price spread: +0.015% → +0.043%
- −$2.76
- Slippage, 4 orders
- −$1.26
- Fee Extended: 2.5 bp × 2 orders
- −$5
- Fee Bullet: 4 bp × 2 orders
- −$8
- Net
- −$17.86
- Costs to cover
- 0.143%
- Break-even
- never at this rate
Slippage from Extended: live order book, 4 min ago; Bullet: 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 Extended live order book, 4 min ago | 0.06 bp | 2.6 bp −$3 | 2.6 bp −$26 | 2.8 bp −$278 | 7.9 bp −$3,926 |
| Sell Bullet live order book, 4 min ago | 0.06 bp | 5.0 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 | |
|---|---|---|---|---|---|---|---|---|
| Bluefin BTC-PERP | −0.0931% | 1h | 85,502.2 | +0.065% | $194K | $785K | 40x | as long as short |
| Hotstuff BTC-PERP | −0.0080% | 1h | 85,457 | +0.012% | $8K | $2K | 50x | as long as short |
| BloFin BTC-USDT | −0.0020% | 8h | 85,456.6 | +0.011% | $424.6M | $653.3M | 150x | as long as short |
| Injective BTC/USDC PERP | −0.0006% | 1h | 85,421 | −0.030% | $439K | $25.8M | 52x | as long as short |
| 01 Exchange BTCUSD | 0.0000% | 1h | 85,483.9 | +0.043% | $353K | $2.2M | 50x | as long as short |
| gTrade (Gains Network) BTC/USD | L +0.0004% / S −0.0004% | 1h | 85,470.4 | +0.028% | $36.6M | — | 200x | as long as short |
| KuCoin XBTUSDTM | +0.0020% | 8h | 85,468 | +0.025% | $941.5M | $760.7M | 125x | as long as short |
| Aster BTCUSDT | +0.0033% | 8h | 85,471.6 | +0.029% | $502.8M | $1.06B | 200x | as long as short |
| dYdX BTC-USD | +0.0055% | 1h | 85,491.8 | +0.053% | $16.8M | $20.8M | 50x | as long as short |
| Kraken Futures PF_XBTUSD | +0.0068% | 1h | 85,480.4 | +0.039% | $186.0M | $917.0M | 100x | as long as short |
Bluefin BTC-PERP
Hotstuff BTC-PERP
BloFin BTC-USDT
Injective BTC/USDC PERP
01 Exchange BTCUSD
gTrade (Gains Network) BTC/USD
KuCoin XBTUSDTM
Aster BTCUSDT
dYdX BTC-USD
Kraken Futures PF_XBTUSDShow all 56 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Phoenix BTC | +0.0075% | 1h | 85,395 | −0.061% | $2.3M | $10.4M | 40x | as long as short |
| BingX BTC-USDT | +0.0080% | 8h | 85,470.8 | +0.028% | — | $1.55B | — | as long as short |
| Nado BTC-PERP | +0.0088% | 1h | 85,450 | +0.004% | $24.2M | $213.8M | 50x | as long as short |
| Lighter BTC | +0.0096% | 1h | 85,476 | +0.034% | $171.4M | $949.1M | 50x | as long as short |
| Lighter RH BTC | +0.0096% | 1h | 85,477.6 | +0.036% | $23.5M | $135.0M | 50x | as long as short |
| Popdex BTCUSDT | +0.0096% | 1h | 85,473 | +0.031% | $8.7M | $56.4M | 100x | as long as short |
| Aevo BTC-PERP | +0.0096% | 1h | 85,458.6 | +0.014% | $2.4M | $6.7M | 20x | as long as short |
| Katana Perps BTC-USD | +0.0100% | 8h | 85,441 | −0.007% | $265K | $8.6M | 50x | as long as short |
| Paradex BTC-USD-PERP | +0.0100% | 8h | 85,498.5 | +0.061% | $5.7M | $9.3M | 50x | as long as short |
| Pacifica BTC | +0.0100% | 1h | 85,486.4 | +0.046% | $40.3M | $602.4M | 50x | as long as short |
| Binance BTCUSDT | +0.0100% | 8h | 85,486.9 | +0.047% | $9.40B | $24.51B | 150x | as long as short |
| Bybit BTCUSDT | +0.0100% | 8h | 85,487.9 | +0.048% | $5.09B | $9.70B | 150x | as long as short |
| OKX BTC-USDT-SWAP | +0.0100% | 8h | 85,495.4 | +0.057% | $2.61B | $11.75B | 100x | as long as short |
| Ondo Perps BTC-USD.P | +0.0100% | 1h | 85,479 | +0.038% | $3.9M | $17.0M | 25x | as long as short |
| Arcus BTC-USD | +0.0100% | 1h | 85,468.1 | +0.025% | $5.1M | $96.9M | 40x | as long as short |
| Bulk BTC-USD | +0.0100% | 1h | 85,303.3 | −0.168% | $702.0M | $164.8M | 40x | as long as short |
| Gate BTC_USDT | +0.0100% | 8h | 85,478.3 | +0.037% | $5.50B | $9.95B | 200x | as long as short |
| MEXC BTC_USDT | +0.0100% | 8h | 85,461.9 | +0.018% | $5.08B | $5.76B | 500x | as long as short |
| Bitget BTCUSDT | +0.0100% | 8h | 85,494.7 | +0.056% | $2.98B | $4.97B | 150x | as long as short |
| Backpack BTC_USDC_PERP | +0.0100% | 1h | 85,457.6 | +0.013% | $37.5M | $192.0M | 75x | as long as short |
| Variational Omni BTC | +0.0100% | 8h | 85,352.3 | −0.111% | $155.8M | $535.0M | — | as long as short |
| edgeX BTCUSDC | +0.0100% | 4h | 85,373.4 | −0.086% | $285.4M | $964.1M | 100x | as long as short |
| GRVT BTC_USDT_Perp | +0.0100% | 8h | 85,416 | −0.036% | $214.6M | $156.0M | 50x | as long as short |
| ApeX Omni BTCUSDT | +0.0100% | 1h | 85,415 | −0.037% | $136.6M | $312.0M | 100x | as long as short |
| StandX BTC-USD | +0.0100% | 1h | 85,379.2 | −0.079% | $30.1M | $217.6M | 40x | as long as short |
| Vest BTC-PERP | +0.0100% | 1h | 85,533.9 | +0.102% | — | $10.0M | 50x | as long as short |
| Polymarket Perps BTC-USD | +0.0100% | 1h | 85,297 | −0.175% | $10.9M | $14.4M | 50x | as long as short |
| Bullet BTC-USDshort | +0.0100% | 1h | 85,460 | +0.015% | $211K | $3.3M | 20x | |
| Orderly PERP_BTC_USDC | +0.0100% | 8h | 85,460.1 | +0.016% | $2.7M | $9.7M | 100x | as long as short |
| Derive BTC-PERP | +0.0100% | 1h | 85,444.6 | −0.003% | $28.8M | $52.4M | 15x | as long as short |
| SunX BTC-USDT | +0.0100% | 8h | 85,371 | −0.089% | $3.1M | $6.9M | 100x | as long as short |
| SoDEX BTC-USD | +0.0100% | 1h | 85,457 | +0.012% | $59.8M | $312.0M | 40x | as long as short |
| HTX BTC-USDT | +0.0100% | 8h | 85,458.8 | +0.014% | $2.26B | $958.4M | 200x | as long as short |
| Phemex BTCUSDT | +0.0100% | 8h | 85,472.7 | +0.030% | $164.3M | $510.6M | 150x | as long as short |
| Extended BTC-USDlong | +0.0104% | 1h | 85,446.8 | long leg | $45.8M | $237.4M | 50x | |
| Jupiter Perps WBTC-PERP | L +0.0104% / S +0.0056% | 1h | 85,467.5 | +0.024% | — | $104.9M | 500x | as long as short |
| Coinbase International BTC-PERP-INTX | +0.0112% | 1h | 85,502.9 | +0.066% | $112.0M | $5.38B | 50x | as long as short |
| Hyperliquid BTC | +0.0149% | 1h | 85,576 | +0.151% | $3.84B | $4.72B | 40x | as long as short |
| Reya BTCRUSDPERP | +0.0150% | 1h | 85,456.6 | +0.011% | $6.6M | $136.5M | 40x | as long as short |
| GMX BTC/USD [WBTC.b-USDC] | L +0.0174% / S −0.0149% | 1h | 85,473.3 | +0.031% | $13.0M | — | 200x | as long as short |
| Kalshi KXBTCPERP | +0.0191% | 8h | 85,484 | +0.044% | $10.1M | $736.5M | 6.4x | as long as short |
| RISEx BTC/USDC | +0.0194% | 1h | 85,499.9 | +0.062% | $8.9M | $42.1M | 25x | as long as short |
| Deribit BTC-PERPETUAL | +0.0206% | 1h | 85,512.9 | +0.077% | $833.0M | $1.64B | 50x | as long as short |
| Aftermath Perps BTCUSD | +0.0346% | 1h | 85,468.3 | +0.025% | $81K | $259K | 20x | as long as short |
| Hibachi BTC/USDT-P | +0.0352% | 1h | 85,471.3 | +0.029% | $688K | $7.6M | 30x | as long as short |
| Perpl BTC | +0.0447% | 43m | 85,449.7 | +0.003% | $452K | $17.9M | 6.7x | as long as short |
Phoenix BTC
BingX BTC-USDT
Nado BTC-PERP
Lighter BTC
Lighter RH BTC
Popdex BTCUSDT
Aevo BTC-PERP
Katana Perps BTC-USD
Paradex BTC-USD-PERP
Pacifica BTC
Binance BTCUSDT
Bybit BTCUSDT
OKX BTC-USDT-SWAP
Ondo Perps BTC-USD.P
Arcus BTC-USD
Bulk BTC-USD
Gate BTC_USDT
MEXC BTC_USDT
Bitget BTCUSDT
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
Orderly PERP_BTC_USDC
Derive BTC-PERP
SunX BTC-USDT
SoDEX BTC-USD
HTX BTC-USDT
Phemex BTCUSDT
Jupiter Perps WBTC-PERP
Coinbase International BTC-PERP-INTX
Hyperliquid BTC
Reya BTCRUSDPERP
GMX BTC/USD [WBTC.b-USDC]
Kalshi KXBTCPERP
RISEx BTC/USDC
Deribit BTC-PERPETUAL
Aftermath Perps BTCUSD
Hibachi BTC/USDT-P
Perpl BTC