Funding you earn now, next payment 07:00 UTC+0.0180%/8h= +19.7% APRnext payment +$0.23 per $10,000 · paid last 24h −0.099%
Price spread now: Bluefin against Hotstuff+0.024%46s7-day average — · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 4 days (all we have)—no history yet
+Price spread, last 7 days—no price history on both exchanges yet
=Both sides work for this trade now. Funding pays +$5 a day on $10k at the current rate, and Bluefin is 0.024% dearer against Hotstuff than usual: you sell high and buy low: +$2 more if the spread goes back to zero (this spread has no 7-day history yet). The two prices were read 46 seconds apart, so part of this spread may be the market moving, not a spread.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Hotstuff BTC-PERP | 85,332 | −0.0080 | get 0.0010% / 1h | 29m 29s | $8K | $3K | 50x |
| Short | Bluefin BTC-PERP | 85,352.1 | 0.0100 | get 0.0013% / 1h | 29m 29s | $193K | $795K | 40x |
Hotstuff BTC-PERP
Bluefin BTC-PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Bluefin against Hotstuff. 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
- $37.8
- Price spread: +0.024% → 0.000%
- $2.36
- Slippage, 4 orders
- no order book: not counted
- Fee Hotstuff: 2.5 bp × 2 orders
- −$5
- Fee Bluefin: 3.5 bp × 2 orders
- −$7
- Net
- $28.16
- Costs to cover
- 0.120%
- Break-even
- 1.8 days
Slippage unknown: Hotstuff: no order-book sample; Bluefin: live order book, 15 min ago. 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 Hotstuff no order-book sample | — | — | — | — | — |
| Sell Bluefin live order book, 15 min ago | 1.09 bp | 6.5 bp −$7 | 11.6 bp −$116 | doesn't fit | doesn't fit |
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 | |
|---|---|---|---|---|---|---|---|---|
| Phoenix BTC | −0.0082% | 1h | 85,329 | −0.004% | $2.1M | $10.4M | 40x | as long as short |
| Hotstuff BTC-PERPlong | −0.0080% | 1h | 85,332 | long leg | $8K | $3K | 50x | |
| KuCoin XBTUSDTM | −0.0045% | 8h | 85,332.8 | +0.001% | $927.8M | $773.7M | 125x | as long as short |
| BloFin BTC-USDT | −0.0029% | 8h | 85,298.9 | −0.039% | $421.2M | $682.6M | 150x | as long as short |
| Aster BTCUSDT | −0.0012% | 8h | 85,336.5 | +0.005% | $512.7M | $1.09B | 200x | as long as short |
| 01 Exchange BTCUSD | 0.0000% | 1h | 85,351 | +0.022% | $353K | $2.4M | 50x | as long as short |
| Perpl BTC | 0.0000% | 43m | 85,335.1 | +0.004% | $493K | $18.5M | 6.7x | as long as short |
| dYdX BTC-USD | +0.0001% | 1h | 85,282.8 | −0.058% | $16.7M | $21.3M | 50x | as long as short |
| gTrade (Gains Network) BTC/USD | L +0.0004% / S −0.0004% | 1h | 85,312.4 | −0.023% | $36.5M | — | 200x | as long as short |
| Nado BTC-PERP | +0.0042% | 1h | 85,326.4 | −0.007% | $24.4M | $222.4M | 50x | as long as short |
Phoenix BTC
KuCoin XBTUSDTM
BloFin BTC-USDT
Aster BTCUSDT
01 Exchange BTCUSD
Perpl BTC
dYdX BTC-USD
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 | +0.0057% | 1h | 85,247 | −0.100% | $338K | $26.8M | 52x | as long as short |
| BingX BTC-USDC | +0.0070% | 8h | 85,324.2 | −0.009% | — | $17.5M | — | as long as short |
| ApeX Omni BTCUSDT | +0.0083% | 1h | 85,306.3 | −0.030% | $139.5M | $314.2M | 100x | as long as short |
| Aevo BTC-PERP | +0.0088% | 1h | 85,305.3 | −0.031% | $2.4M | $6.7M | 20x | as long as short |
| Kraken Futures PF_XBTUSD | +0.0089% | 1h | 85,326.6 | −0.006% | $185.6M | $957.9M | 100x | as long as short |
| Bitget BTCUSDT | +0.0089% | 8h | 85,316.5 | −0.018% | $2.96B | $5.17B | 150x | as long as short |
| MEXC BTC_USDT | +0.0091% | 8h | 85,340.3 | +0.010% | $5.01B | $5.75B | 500x | as long as short |
| Binance BTCUSDT | +0.0091% | 8h | 85,341.3 | +0.011% | $9.43B | $24.95B | 150x | as long as short |
| Lighter BTC | +0.0096% | 1h | 85,350.3 | +0.021% | $170.2M | $1.02B | 50x | as long as short |
| Lighter RH BTC | +0.0096% | 1h | 85,348.1 | +0.019% | $23.5M | $148.1M | 50x | as long as short |
| Popdex BTCUSDT | +0.0096% | 1h | 85,337 | +0.006% | $8.4M | $56.3M | 100x | as long as short |
| Katana Perps BTC-USD | +0.0100% | 8h | 85,315 | −0.020% | $236K | $8.7M | 50x | as long as short |
| Bybit BTCUSDT | +0.0100% | 8h | 85,327 | −0.006% | $5.14B | $9.98B | 150x | as long as short |
| Paradex BTC-USD-PERP | +0.0100% | 8h | 85,398.1 | +0.077% | $5.8M | $9.6M | 50x | as long as short |
| Hyperliquid BTC | +0.0100% | 1h | 85,400 | +0.080% | $3.74B | $5.09B | 40x | as long as short |
| Pacifica BTC | +0.0100% | 1h | 85,363.8 | +0.037% | $39.9M | $602.6M | 50x | as long as short |
| OKX BTC-USDT-SWAP | +0.0100% | 8h | 85,326.2 | −0.007% | $2.60B | $12.24B | 100x | as long as short |
| Ondo Perps BTC-USD.P | +0.0100% | 1h | 85,334 | +0.002% | $3.8M | $17.1M | 25x | as long as short |
| Arcus BTC-USD | +0.0100% | 1h | 85,333 | +0.001% | $5.2M | $99.0M | 40x | as long as short |
| Gate BTC_USDT | +0.0100% | 8h | 85,343 | +0.013% | $5.54B | $11.01B | 200x | as long as short |
| Backpack BTC_USDC_PERP | +0.0100% | 1h | 85,311.9 | −0.024% | $36.9M | $178.4M | 75x | as long as short |
| Variational Omni BTC | +0.0100% | 8h | 85,275.8 | −0.066% | $154.7M | $557.8M | — | as long as short |
| edgeX BTCUSDC | +0.0100% | 4h | 85,267.5 | −0.076% | $279.4M | $951.1M | 100x | as long as short |
| GRVT BTC_USDT_Perp | +0.0100% | 8h | 85,293.3 | −0.045% | $214.1M | $165.1M | 50x | as long as short |
| StandX BTC-USD | +0.0100% | 1h | 85,287.3 | −0.052% | $30.1M | $203.6M | 40x | as long as short |
| Vest BTC-PERP | +0.0100% | 1h | 85,384.1 | +0.061% | — | $10.9M | 50x | as long as short |
| Polymarket Perps BTC-USD | +0.0100% | 1h | 85,329 | −0.004% | $11.0M | $14.6M | 50x | as long as short |
| Bullet BTC-USD | +0.0100% | 1h | 85,309.9 | −0.026% | $202K | $3.3M | 20x | as long as short |
| Orderly PERP_BTC_USDC | +0.0100% | 8h | 85,312.1 | −0.023% | $2.6M | $9.8M | 100x | as long as short |
| Bluefin BTC-PERPshort | +0.0100% | 1h | 85,352.1 | +0.024% | $193K | $795K | 40x | |
| Derive BTC-PERP | +0.0100% | 1h | 85,214.5 | −0.138% | $29.9M | $47.0M | 15x | as long as short |
| SunX BTC-USDT | +0.0100% | 8h | 85,279 | −0.062% | $2.9M | $6.1M | 100x | as long as short |
| SoDEX BTC-USD | +0.0100% | 1h | 85,310 | −0.026% | $59.7M | $336.8M | 40x | as long as short |
| HTX BTC-USDT | +0.0100% | 8h | 85,306.4 | −0.030% | $2.26B | $967.6M | 200x | as long as short |
| Phemex BTCUSDT | +0.0100% | 8h | 85,326.1 | −0.007% | $151.8M | $509.8M | 150x | as long as short |
| Bulk BTC-USD | +0.0100% | 1h | 85,269.9 | −0.073% | $683.1M | $415.1M | 40x | as long as short |
| Deribit BTC-PERPETUAL | +0.0104% | 1h | 85,352.2 | +0.024% | $862.2M | $1.64B | 50x | as long as short |
| Extended BTC-USD | +0.0104% | 1h | 85,315.9 | −0.019% | $44.8M | $240.7M | 50x | as long as short |
| Jupiter Perps WBTC-PERP | L +0.0104% / S +0.0056% | 1h | 85,312.9 | −0.022% | — | $106.9M | 500x | as long as short |
| Coinbase International BTC-PERP-INTX | +0.0104% | 1h | 85,355.8 | +0.028% | $115.8M | $5.46B | 50x | as long as short |
| Reya BTCRUSDPERP | +0.0128% | 1h | 85,307.5 | −0.029% | $6.6M | $147.6M | 40x | as long as short |
| Kalshi KXBTCPERP | +0.0183% | 8h | 85,327 | −0.006% | $11.8M | $740.7M | 6.4x | as long as short |
| RISEx BTC/USDC | +0.0193% | 1h | 85,315.9 | −0.019% | $8.8M | $42.9M | 25x | as long as short |
| GMX BTC/USD [WBTC.b-USDC] | L +0.0200% / S −0.0176% | 1h | 85,308.5 | −0.028% | $13.1M | — | 200x | as long as short |
| Hibachi BTC/USDT-P | +0.0240% | 1h | 85,332.6 | +0.001% | $685K | $7.9M | 30x | as long as short |
| Aftermath Perps BTCUSD | +0.0264% | 1h | 85,293.8 | −0.045% | $79K | $230K | 20x | as long as short |
Injective BTC/USDC PERP
BingX BTC-USDC
ApeX Omni BTCUSDT
Aevo BTC-PERP
Kraken Futures PF_XBTUSD
Bitget BTCUSDT
MEXC BTC_USDT
Binance BTCUSDT
Lighter BTC
Lighter RH BTC
Popdex BTCUSDT
Katana Perps BTC-USD
Bybit BTCUSDT
Paradex BTC-USD-PERP
Hyperliquid BTC
Pacifica BTC
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
Bullet BTC-USD
Orderly PERP_BTC_USDC
Derive BTC-PERP
SunX BTC-USDT
SoDEX BTC-USD
HTX BTC-USDT
Phemex BTCUSDT
Bulk BTC-USD
Deribit BTC-PERPETUAL
Extended BTC-USD
Jupiter Perps WBTC-PERP
Coinbase International BTC-PERP-INTX
Reya BTCRUSDPERP
Kalshi KXBTCPERP
RISEx BTC/USDC
GMX BTC/USD [WBTC.b-USDC]
Hibachi BTC/USDT-P
Aftermath Perps BTCUSD