data as of
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Funding arb /

BTC

all BTC markets
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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.

Funding spread now, next payment 15:00 UTC−0.0082%/8h
next payment, per $10,000−$0.10paid, last 24h−0.018%paid, last 3 days−0.138%to open and close $10k−$19
Long on HyperliquidShort on Bullet
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongHyperliquid BTC86,0910.0159pay 0.0020% / 1h4m 13s$3.89B$4.24B40x
ShortBullet BTC-USD85,9860.0077get 0.0010% / 1h4m 13s$245K$3.3M20x

Funding history

latest
Range statsloading…

Funding on every exchange

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latest

Profit calculator

Funding earned
−$17.27
Slippage, 4 orders
−$2.34
Fee Hyperliquid: 4.5 bp × 2 orders
−$9
Fee Bullet: 4 bp × 2 orders
−$8
Net
−$36.62
Break-even
never at this rate
Slippage from Hyperliquid: live order book, 11 min ago; Bullet: live order book, 1 min ago.

Price risk

price view
Price gap now
−0.122%
Avg gap 7d
−0.028%
A gap far from its average can cost days of funding.

Backtest

opened in the past, held until now, after costs
Backtest 7 daysBacktest 30 daysBacktest 90 daysopens the backtester with this pair and $10,000 a leg

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy Hyperliquid live order book, 11 min ago0.06 bp4.6 bp −$54.6 bp −$465.6 bp −$556doesn't fit
Sell Bullet live order book, 1 min ago0.35 bp5.1 bp −$58.3 bp −$83doesn't fitdoesn't fit

BTC on 55 venues

lowest funding first. Swap a leg.
ExchangeFunding /8hEveryOIVol 24hMax lev
Perpl BTC−0.0223%43m$434K$30.5M6.7xas long as short
edgeX BTCUSDC−0.0117%4h$282.4M$832.6M100xas long as short
01 Exchange BTCUSD−0.0112%1h$280K$2.3M50xas long as short
Aftermath Perps BTCUSD−0.0084%1h$87K$148K20xas long as short
Hotstuff BTC-PERP−0.0080%1h$9K$3K50xas long as short
Reya BTCRUSDPERP−0.0027%1h$6.7M$137.4M40xas long as short
Phemex BTCUSDT−0.0023%8h$157.6M$388.2M150xas long as short
Bluefin BTC-PERP−0.0021%1h$143K$403K40xas long as short
BingX BTC-USDT−0.0010%8h—$1.36B—as long as short
Gate BTC_USDT−0.0009%8h$6.12B$9.10B200xas long as short
Show all 55 venues
ExchangeFunding /8hEveryOIVol 24hMax lev
Bitget BTCUSDT−0.0009%8h$2.95B$4.51B150xas long as short
dYdX BTC-USD−0.0008%1h$16.8M$16.3M50xas long as short
gTrade (Gains Network) BTC/USDL +0.0005% / S −0.0004%1h$36.8M—200xas long as short
SoDEX BTC-USD+0.0009%1h$61.3M$259.1M40xas long as short
ApeX Omni BTCUSDT+0.0012%1h$139.0M$317.5M100xas long as short
Phoenix BTC+0.0015%1h$1.6M$10.8M40xas long as short
OKX BTC-USDT-SWAP+0.0037%8h$2.61B$11.25B100xas long as short
Kraken Futures PF_XBTUSD+0.0042%1h$185.0M$791.7M100xas long as short
Aster BTCUSDT+0.0045%8h$489.3M$1.09B200xas long as short
HTX BTC-USDT+0.0049%8h$2.30B$809.0M200xas long as short
KuCoin XBTUSDTM+0.0053%8h$789.8M$604.8M125xas long as short
Hibachi BTC/USDT-P+0.0064%1h$626K$7.2M30xas long as short
Bullet BTC-USDshort+0.0077%1h$245K$3.3M20x
Paradex BTC-USD-PERP+0.0079%8h$4.4M$6.5M50xas long as short
Popdex BTCUSDT+0.0080%1h$8.6M$43.3M100xas long as short
Aevo BTC-PERP+0.0080%1h$2.4M$1.6M20xas long as short
MEXC BTC_USDT+0.0082%8h$5.02B$4.95B500xas long as short
Binance BTCUSDT+0.0082%8h$9.58B$20.77B150xas long as short
Nado BTC-PERP+0.0091%1h$23.6M$229.9M50xas long as short
Lighter BTC+0.0096%1h$180.0M$903.2M50xas long as short
Lighter RH BTC+0.0096%1h$25.2M$138.4M50xas long as short
Katana Perps BTC-USD+0.0100%8h$183K$5.2M50xas long as short
Pacifica BTC+0.0100%1h$36.5M$331.3M50xas long as short
Bybit BTCUSDT+0.0100%8h$5.15B$8.24B150xas long as short
Ondo Perps BTC-USD.P+0.0100%1h$3.9M$15.9M25xas long as short
Arcus BTC-USD+0.0100%1h$5.3M$81.3M40xas long as short
Bulk BTC-USD+0.0100%1h$540.9M$69.9M40xas long as short
Backpack BTC_USDC_PERP+0.0100%1h$40.2M$101.5M75xas long as short
Variational Omni BTC+0.0100%8h$172.9M$488.6M—as long as short
StandX BTC-USD+0.0100%1h$30.8M$241.3M40xas long as short
Vest BTC-PERP+0.0100%1h—$13.3M50xas long as short
Polymarket Perps BTC-USD+0.0100%1h$10.9M$11.2M50xas long as short
Orderly PERP_BTC_USDC+0.0100%8h$2.4M$7.1M100xas long as short
Derive BTC-PERP+0.0100%1h$29.8M$57.4M15xas long as short
SunX BTC-USDT+0.0100%8h$3.3M$5.6M100xas long as short
Kalshi KXBTCPERP+0.0101%8h$9.5M$539.1M6.4xas long as short
Extended BTC-USD+0.0104%1h$48.3M$206.4M50xas long as short
Jupiter Perps WBTC-PERPL +0.0104% / S +0.0048%1h—$89.0M500xas long as short
Coinbase International BTC-PERP-INTX+0.0112%1h$149.1M$6.27B50xas long as short
Hyperliquid BTClong+0.0159%1h$3.89B$4.24B40x
RISEx BTC/USDC+0.0178%1h$8.8M$38.3M25xas long as short
Injective BTC/USDC PERP+0.0180%1h$304K$27.0M52xas long as short
GMX BTC/USD [WBTC.b-USDC]L +0.0198% / S −0.0177%1h$12.5M—200xas long as short
BloFin BTC-USDT+0.0203%8h$426.3M$508.5M150xas long as short
Deribit BTC-PERPETUAL+0.0351%1h$870.4M$1.00B50xas long as short