BTC

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0096%/8h= +10.5% APRnext payment +$0.12 per $10,000 · paid last 24h +0.017%

Price spread now: Arcus against gTrade (Gains Network)0.000%7-day average +0.037% · 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−$130.131% of the position

Long on gTrade (Gains Network)Short on Arcus

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.083%+$8 on $10k

Price spread, last 7 days+0.011%+$1 · spread now 0.000%, 7d avg +0.037%

Together, before fees+0.095%+$9 on $10k · with fees, hour by hour

Funding pays, the price is against you. Arcus is 0.037% cheaper against gTrade (Gains Network) than usual: you would sell low and buy high (spread 0.000% now, against its 7-day average of +0.037%). If the spread goes back, that is −$4 on $10k: about 31 hours of funding at the current rate (+$3 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	gTrade (Gains Network) BTC/USD	85,475.8	L +0.0004% / S −0.0004%	pay 0.0001% / 1h	49m 58s	$36.5M	—	200x
Short	Arcus BTC-USD	85,475.7	0.0100	get 0.0013% / 1h	49m 58s	$4.7M	$99.0M	40x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Arcus against gTrade (Gains Network). 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 gTrade (Gains Network)bpFee ArcusbpOrdersPrice spread, now 0.000%Rate

Funding earned: $20.06
Price spread: 0.000% → +0.037%: −$3.72
Slippage, 4 orders: −$1.59
Fee gTrade (Gains Network): 3.5 bp × 2 orders: −$7
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Net: $3.25
Costs to cover: 0.131%
Break-even: 5.9 days

Slippage from gTrade (Gains Network): virtual book (oracle venue), 4 min ago; Arcus: 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 gTrade (Gains Network) virtual book (oracle venue), 4 min ago	0.51 bp	4.0 bp −$4	4.1 bp −$41	4.5 bp −$446	6.4 bp −$3,181
Sell Arcus live order book, 4 min ago	0.01 bp	2.3 bp −$2	2.3 bp −$23	4.1 bp −$414	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	85,404	−0.084%	$2.1M	$10.4M	40x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	85,484	+0.010%	$8K	$3K	50x	as long as short
KuCoin XBTUSDTM	−0.0054%	8h	85,416.8	−0.069%	$920.9M	$760.8M	125x	as long as short
01 Exchange BTCUSD	−0.0032%	1h	85,478.3	+0.003%	$381K	$2.3M	50x	as long as short
BloFin BTC-USDT	−0.0030%	8h	85,477.4	+0.002%	$421.3M	$677.4M	150x	as long as short
Aster BTCUSDT	−0.0011%	8h	85,436.3	−0.046%	$514.1M	$1.10B	200x	as long as short
dYdX BTC-USD	0.0000%	1h	85,452.6	−0.027%	$16.8M	$21.3M	50x	as long as short
Perpl BTC	0.0000%	43m	85,475.6	0.000%	$533K	$18.8M	6.7x	as long as short
gTrade (Gains Network) BTC/USDlong	L +0.0004% / S −0.0004%	1h	85,475.8	long leg	$36.5M	—	200x
Nado BTC-PERP	+0.0012%	1h	85,464.9	−0.013%	$24.7M	$223.7M	50x	as long as short

Show 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	−0.031%	$339K	$26.8M	52x	as long as short
Kraken Futures PF_XBTUSD	+0.0056%	1h	85,442.4	−0.039%	$187.7M	$954.6M	100x	as long as short
ApeX Omni BTCUSDT	+0.0060%	1h	85,397.6	−0.091%	$139.6M	$315.6M	100x	as long as short
BingX BTC-USDT	+0.0064%	8h	85,443.2	−0.038%	—	$1.55B	—	as long as short
Bullet BTC-USD	+0.0068%	1h	85,460	−0.018%	$204K	$3.3M	20x	as long as short
Phemex BTCUSDT	+0.0072%	8h	85,438.9	−0.043%	$149.5M	$500.4M	150x	as long as short
Bitget BTCUSDT	+0.0081%	8h	85,445.7	−0.035%	$2.95B	$5.15B	150x	as long as short
SoDEX BTC-USD	+0.0087%	1h	85,418	−0.068%	$59.9M	$335.9M	40x	as long as short
Aevo BTC-PERP	+0.0088%	1h	85,440.2	−0.042%	$2.4M	$6.7M	20x	as long as short
MEXC BTC_USDT	+0.0089%	8h	85,439.1	−0.043%	$5.08B	$5.66B	500x	as long as short
Binance BTCUSDT	+0.0090%	8h	85,441.6	−0.040%	$9.44B	$24.72B	150x	as long as short
Lighter BTC	+0.0096%	1h	85,442.1	−0.039%	$171.8M	$1.01B	50x	as long as short
Lighter RH BTC	+0.0096%	1h	85,438	−0.044%	$23.9M	$147.3M	50x	as long as short
Popdex BTCUSDT	+0.0096%	1h	85,477	+0.001%	$8.4M	$55.4M	100x	as long as short
Coinbase International BTC-PERP-INTX	+0.0096%	1h	85,460	−0.018%	$117.2M	$5.31B	50x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	85,451	−0.029%	$239K	$8.5M	50x	as long as short
Paradex BTC-USD-PERP	+0.0100%	8h	85,524.7	+0.057%	$5.6M	$9.4M	50x	as long as short
Hyperliquid BTC	+0.0100%	1h	85,513	+0.044%	$3.78B	$5.03B	40x	as long as short
Pacifica BTC	+0.0100%	1h	85,505.2	+0.034%	$40.1M	$593.1M	50x	as long as short
Bybit BTCUSDT	+0.0100%	8h	85,439.8	−0.042%	$5.18B	$9.89B	150x	as long as short
OKX BTC-USDT-SWAP	+0.0100%	8h	85,448.9	−0.031%	$2.59B	$12.14B	100x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	85,466	−0.011%	$3.8M	$17.6M	25x	as long as short
Arcus BTC-USDshort	+0.0100%	1h	85,475.7	0.000%	$4.7M	$99.0M	40x
Gate BTC_USDT	+0.0100%	8h	85,444.4	−0.037%	$5.54B	$10.80B	200x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	85,420.5	−0.065%	$36.6M	$175.3M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	85,453.4	−0.026%	$154.3M	$564.8M	—	as long as short
edgeX BTCUSDC	+0.0100%	4h	85,371.3	−0.122%	$279.2M	$937.7M	100x	as long as short
GRVT BTC_USDT_Perp	+0.0100%	8h	85,404.6	−0.083%	$214.6M	$169.0M	50x	as long as short
StandX BTC-USD	+0.0100%	1h	85,465.9	−0.012%	$30.1M	$206.3M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	85,533.4	+0.067%	—	$10.9M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	85,470	−0.007%	$11.1M	$14.4M	50x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	85,443.8	−0.037%	$2.5M	$8.8M	100x	as long as short
Bluefin BTC-PERP	+0.0100%	1h	85,490.5	+0.017%	$207K	$738K	40x	as long as short
Derive BTC-PERP	+0.0100%	1h	85,427.2	−0.057%	$30.0M	$50.3M	15x	as long as short
SunX BTC-USDT	+0.0100%	8h	85,448.1	−0.032%	$2.9M	$6.1M	100x	as long as short
HTX BTC-USDT	+0.0100%	8h	85,426.3	−0.058%	$2.26B	$952.3M	200x	as long as short
Bulk BTC-USD	+0.0100%	1h	85,429	−0.055%	$679.8M	$655.7M	40x	as long as short
Extended BTC-USD	+0.0104%	1h	85,418.6	−0.067%	$45.8M	$236.1M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0048%	1h	85,479.8	+0.005%	—	$106.8M	500x	as long as short
Reya BTCRUSDPERP	+0.0109%	1h	85,464.3	−0.013%	$6.6M	$147.3M	40x	as long as short
Deribit BTC-PERPETUAL	+0.0149%	1h	85,476.2	0.000%	$872.2M	$1.60B	50x	as long as short
Kalshi KXBTCPERP	+0.0174%	8h	85,501	+0.029%	$11.4M	$750.1M	6.4x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0176% / S −0.0151%	1h	85,473.9	−0.002%	$13.0M	—	200x	as long as short
Aftermath Perps BTCUSD	+0.0237%	1h	85,451.1	−0.029%	$78K	$225K	20x	as long as short
Hibachi BTC/USDT-P	+0.0240%	1h	85,486.9	+0.013%	$695K	$7.9M	30x	as long as short
RISEx BTC/USDC	+0.0257%	1h	85,503.5	+0.032%	$8.8M	$43.1M	25x	as long as short