Settings8H · net · $10k
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Funding arb · Price arb /

BTC

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Alert: funding
Measured
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Checked every minute; it has to hold two checks in a row. Delivery to Telegram comes later, so for now alerts appear on the alerts page.

Alert: spread
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Funding you earn now, next payment 11:00 UTC+0.0104%/8h= +11.4% APRnext payment +$0.13 per $10,000 · paid last 24h +0.023%
Price spread now: Deribit against Extended+0.114%7-day average +0.080% · you sell dearer than you buy
Net, funding: paid 7d − costs−$17as in the Funding arb table
Net, price: spread back to 7d avg − costs−$11as in the Price arb table
costs, in and out, $10k−$140.145% of the position
Long on ExtendedShort on Deribit
What this pair did over the last
the charts below follow
Funding, last 7 days−0.029%−$3 on $10k
Price spread, last 4 days (all we have)−0.113%−$11 · spread now +0.114%, 7d avg +0.080%
Together, before fees−0.143%+ Points / potential airdropExtended: Active · farm board−$14 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and Deribit is 0.034% dearer against Extended than usual: you sell high and buy low: +$3 more if the spread goes back to its 7-day average of +0.080%.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongExtended BTC-USD86,062.90.0104pay 0.0013% / 1h52m 51s$47.0M$203.3M50x
ShortDeribit BTC-PERPETUAL86,161.10.0208get 0.0026% / 1h52m 51s$822.7M$1.51B50x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Deribit against Extended. Falling: the short leg gains. Rising: it loses.
latest
Price spreadloading…

Funding on every exchange

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

Profit calculator

Funding earned
$21.93
Price spread: +0.114% → +0.080%
$3.43
Slippage, 4 orders
−$2.46
Fee Extended: 2.5 bp × 2 orders
−$5
Fee Deribit: 3.5 bp × 2 orders
−$7
Net
$10.9
Costs to cover
0.145%
Break-even
3.5 days
Slippage from Extended: live order book, 4 min ago; Deribit: live order book, 4 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy Extended live order book, 4 min ago0.06 bp2.6 bp −$32.8 bp −$284.3 bp −$42710.2 bp −$5,116
Sell Deribit live order book, 4 min ago0.75 bp4.3 bp −$44.5 bp −$456.6 bp −$65514.5 bp −$7,273

BTC on 55 exchanges

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Phoenix BTC−0.0133%1h86,126+0.073%$2.0M$7.8M40xas long as short
Hotstuff BTC-PERP−0.0080%1h86,197+0.156%$8K$2K50xas long as short
01 Exchange BTCUSD−0.0024%1h86,109.5+0.054%$363K$2.0M50xas long as short
BloFin BTC-USDT−0.0020%8h86,091.8+0.034%$421.2M$564.2M150xas long as short
SoDEX BTC-USD−0.0011%1h86,100+0.043%$65.9M$188.0M40xas long as short
dYdX BTC-USD0.0000%1h86,119.6+0.066%$16.9M$14.6M50xas long as short
Perpl BTC0.0000%43m86,108.2+0.053%$481K$13.8M6.7xas long as short
gTrade (Gains Network) BTC/USDL +0.0004% / S −0.0004%1h86,111.6+0.057%$36.8M—200xas long as short
Injective BTC/USDC PERP+0.0009%1h86,214+0.176%$301K$26.1M52xas long as short
Aster BTCUSDT+0.0029%8h86,044.9−0.021%$513.0M$876.0M200xas long as short
Show all 55 exchanges
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Kraken Futures PF_XBTUSD+0.0029%1h86,122.6+0.069%$191.2M$770.6M100xas long as short
BingX BTC-USDT+0.0030%8h86,050−0.015%—$1.33B—as long as short
Bybit BTCUSDT+0.0036%8h86,058.1−0.006%$5.14B$8.13B150xas long as short
ApeX Omni BTCUSDT+0.0037%1h86,155.8+0.108%$137.8M$295.3M100xas long as short
KuCoin XBTUSDTM+0.0053%8h86,094.3+0.036%$943.1M$636.0M125xas long as short
Gate BTC_USDT+0.0063%8h86,069.1+0.007%$5.51B$8.88B200xas long as short
Popdex BTCUSDT+0.0072%1h86,096+0.038%$8.8M$45.4M100xas long as short
Phemex BTCUSDT+0.0081%8h86,096.9+0.039%$170.7M$479.4M150xas long as short
Bitget BTCUSDT+0.0095%8h86,052.4−0.012%$2.99B$3.97B150xas long as short
Lighter BTC+0.0096%1h86,078.8+0.018%$173.6M$852.5M50xas long as short
Lighter RH BTC+0.0096%1h86,113.1+0.058%$23.5M$118.7M50xas long as short
Aevo BTC-PERP+0.0096%1h86,087.7+0.029%$2.4M$6.7M20xas long as short
HTX BTC-USDT+0.0099%8h86,098.7+0.042%$2.27B$805.1M200xas long as short
Katana Perps BTC-USD+0.0100%8h86,078+0.017%$219K$8.1M50xas long as short
Paradex BTC-USD-PERP+0.0100%8h86,146.8+0.097%$6.0M$7.6M50xas long as short
Nado BTC-PERP+0.0100%1h86,103.1+0.047%$23.5M$196.2M50xas long as short
Pacifica BTC+0.0100%1h86,146.4+0.097%$40.4M$570.0M50xas long as short
Binance BTCUSDT+0.0100%8h86,052.9−0.012%$9.45B$20.61B150xas long as short
OKX BTC-USDT-SWAP+0.0100%8h86,060.1−0.003%$2.61B$9.50B100xas long as short
Ondo Perps BTC-USD.P+0.0100%1h86,110+0.055%$4.0M$15.1M25xas long as short
Arcus BTC-USD+0.0100%1h86,133.8+0.082%$4.2M$90.6M40xas long as short
Bulk BTC-USD+0.0100%1h86,169.3+0.124%$716.4M$134.3M40xas long as short
MEXC BTC_USDT+0.0100%8h86,076.9+0.016%$5.19B$4.82B500xas long as short
Backpack BTC_USDC_PERP+0.0100%1h86,094.4+0.037%$38.7M$196.3M75xas long as short
Variational Omni BTC+0.0100%8h86,125.5+0.073%$158.0M$474.6M—as long as short
edgeX BTCUSDC+0.0100%4h86,136.3+0.085%$290.0M$813.0M100xas long as short
GRVT BTC_USDT_Perp+0.0100%8h86,151.9+0.103%$216.4M$133.7M50xas long as short
StandX BTC-USD+0.0100%1h86,151+0.102%$30.3M$222.8M40xas long as short
Vest BTC-PERP+0.0100%1h86,159.6+0.112%—$9.4M50xas long as short
Polymarket Perps BTC-USD+0.0100%1h86,106+0.050%$11.1M$12.0M50xas long as short
Bullet BTC-USD+0.0100%1h86,103+0.047%$205K$3.2M20xas long as short
Orderly PERP_BTC_USDC+0.0100%8h86,097+0.040%$2.7M$8.9M100xas long as short
Bluefin BTC-PERP+0.0100%1h86,149.8+0.101%$195K$564K40xas long as short
SunX BTC-USDT+0.0100%8h86,124.6+0.072%$3.2M$6.6M100xas long as short
Extended BTC-USDlong+0.0104%1h86,062.9long leg$47.0M$203.3M50x
Jupiter Perps WBTC-PERPL +0.0104% / S +0.0056%1h86,114.2+0.060%—$81.7M500xas long as short
Coinbase International BTC-PERP-INTX+0.0120%1h86,153.6+0.105%$112.3M$4.98B50xas long as short
Hyperliquid BTC+0.0158%1h86,152+0.103%$3.97B$4.36B40xas long as short
Kalshi KXBTCPERP+0.0160%8h86,134+0.083%$11.8M$732.6M6.4xas long as short
Reya BTCRUSDPERP+0.0163%1h86,081.8+0.022%$6.6M$131.1M40xas long as short
RISEx BTC/USDC+0.0187%1h86,122.8+0.070%$8.9M$37.2M25xas long as short
Deribit BTC-PERPETUALshort+0.0208%1h86,161.1+0.114%$822.7M$1.51B50x
GMX BTC/USD [WBTC.b-USDC]L +0.0210% / S −0.0250%1h86,110.4+0.055%$15.6M—200xas long as short
Hibachi BTC/USDT-P+0.0352%1h86,175.6+0.131%$716K$7.0M30xas long as short
Aftermath Perps BTCUSD+0.0453%1h86,154.7+0.107%$79K$245K20xas long as short