BTC

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0069%/8h= −7.5% APRnext payment −$0.09 per $10,000 · paid last 24h +0.001%

Price spread now: RISEx against Kraken Futures−0.030%7-day average +0.002% · 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−$22as in the Price arb table

costs, in and out, $10k−$190.186% of the position

Long on Kraken Futures Short on RISEx

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.033%+$3 on $10k

Price spread, last 3 days (all we have)+0.026%+$3 · spread now −0.030%, 7d avg +0.002%

Together, before fees+0.059%+$6 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and RISEx is 0.033% cheaper against Kraken Futures than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of +0.002%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_XBTUSD	86,427.4	0.0121	pay 0.0015% / 1h	22m 53s	$192.3M	$942.0M	100x
Short	RISEx BTC/USDC	86,401.1	0.0052	get 0.0007% / 1h	22m 53s	$8.3M	$42.4M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

RISEx against Kraken Futures. 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 Kraken FuturesbpFee RISExbpOrdersPrice spread, now −0.030%Rate

Funding earned: −$14.45
Price spread: −0.030% → +0.002%: −$3.26
Slippage, 4 orders: −$2.56
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee RISEx: 3 bp × 2 orders: −$6
Net: −$36.27
Costs to cover: 0.186%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 1 min ago; RISEx: live order book, 1 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 Kraken Futures live order book, 1 min ago	0.06 bp	5.2 bp −$5	6.4 bp −$64	7.8 bp −$781	9.6 bp −$4,789
Sell RISEx live order book, 1 min ago	0.01 bp	4.7 bp −$5	4.7 bp −$47	10.0 bp −$999	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	−0.0206%	1h	86,422.1	−0.006%	$144K	$666K	40x	as long as short
Phoenix BTC	−0.0129%	1h	86,445	+0.020%	$2.2M	$11.2M	40x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	86,404	−0.027%	$9K	$3K	50x	as long as short
01 Exchange BTCUSD	−0.0032%	1h	86,396.5	−0.036%	$361K	$2.4M	50x	as long as short
Perpl BTC	0.0000%	43m	86,427.8	0.000%	$481K	$21.4M	6.7x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0005% / S −0.0004%	1h	86,413.9	−0.016%	$36.9M	—	200x	as long as short
Injective BTC/USDC PERP	+0.0023%	1h	86,358	−0.080%	$343K	$26.9M	52x	as long as short
dYdX BTC-USD	+0.0024%	1h	86,437.8	+0.012%	$16.9M	$20.5M	50x	as long as short
Aster BTCUSDT	+0.0030%	8h	86,392.7	−0.040%	$501.0M	$1.13B	200x	as long as short
KuCoin XBTUSDTM	+0.0041%	8h	86,372.3	−0.064%	$831.4M	$717.9M	125x	as long as short

Show all 56 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Reya BTCRUSDPERP	+0.0046%	1h	86,385.4	−0.049%	$6.7M	$145.7M	40x	as long as short
BingX BTC-USDT	+0.0050%	8h	86,366.1	−0.071%	—	$1.57B	—	as long as short
RISEx BTC/USDCshort	+0.0052%	1h	86,401.1	−0.030%	$8.3M	$42.4M	25x
Bitget BTCUSDT	+0.0063%	8h	86,361.9	−0.076%	$2.97B	$5.03B	150x	as long as short
Deribit BTC-PERPETUAL	+0.0077%	1h	86,435.5	+0.009%	$902.3M	$1.51B	50x	as long as short
Aevo BTC-PERP	+0.0080%	1h	86,382.5	−0.052%	$2.5M	$1.8M	20x	as long as short
MEXC BTC_USDT	+0.0083%	8h	86,359	−0.079%	$5.13B	$5.71B	500x	as long as short
Binance BTCUSDT	+0.0083%	8h	86,358.8	−0.079%	$9.41B	$24.24B	150x	as long as short
SoDEX BTC-USD	+0.0090%	1h	86,395	−0.038%	$60.4M	$338.2M	40x	as long as short
Phemex BTCUSDT	+0.0095%	8h	86,376.1	−0.059%	$154.8M	$473.5M	150x	as long as short
Lighter BTC	+0.0096%	1h	86,406.5	−0.024%	$170.7M	$987.4M	50x	as long as short
Lighter RH BTC	+0.0096%	1h	86,410	−0.020%	$23.8M	$150.4M	50x	as long as short
Popdex BTCUSDT	+0.0096%	1h	86,387	−0.047%	$8.4M	$52.0M	100x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	86,365	−0.072%	$202K	$7.2M	50x	as long as short
Paradex BTC-USD-PERP	+0.0100%	8h	86,426.4	−0.001%	$4.2M	$8.6M	50x	as long as short
Nado BTC-PERP	+0.0100%	1h	86,390.1	−0.043%	$22.0M	$227.3M	50x	as long as short
Hyperliquid BTC	+0.0100%	1h	86,444	+0.019%	$3.79B	$4.97B	40x	as long as short
Pacifica BTC	+0.0100%	1h	86,423.5	−0.005%	$41.1M	$552.2M	50x	as long as short
Bybit BTCUSDT	+0.0100%	8h	86,368.6	−0.068%	$5.26B	$9.65B	150x	as long as short
OKX BTC-USDT-SWAP	+0.0100%	8h	86,370.1	−0.066%	$2.56B	$12.46B	100x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	86,394	−0.039%	$3.9M	$17.8M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	86,420.8	−0.008%	$7.2M	$94.8M	40x	as long as short
Gate BTC_USDT	+0.0100%	8h	86,379.1	−0.056%	$5.79B	$10.56B	200x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	86,374.7	−0.061%	$37.3M	$158.7M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	86,462.4	+0.040%	$158.2M	$558.6M	—	as long as short
edgeX BTCUSDC	+0.0100%	4h	86,429.5	+0.002%	$279.2M	$949.6M	100x	as long as short
GRVT BTC_USDT_Perp	+0.0100%	8h	86,434.6	+0.008%	$217.1M	$165.2M	50x	as long as short
ApeX Omni BTCUSDT	+0.0100%	1h	86,442.1	+0.017%	$141.6M	$320.7M	100x	as long as short
StandX BTC-USD	+0.0100%	1h	86,448.9	+0.025%	$30.7M	$209.3M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	86,440.7	+0.015%	—	$11.8M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	86,392	−0.041%	$11.1M	$14.0M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	86,400.7	−0.031%	$192K	$3.3M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	86,390.3	−0.043%	$2.4M	$8.9M	100x	as long as short
Derive BTC-PERP	+0.0100%	1h	86,415.2	−0.014%	$30.5M	$57.5M	15x	as long as short
SunX BTC-USDT	+0.0100%	8h	86,358.3	−0.080%	$3.4M	$5.4M	100x	as long as short
HTX BTC-USDT	+0.0100%	8h	86,374.8	−0.061%	$2.29B	$957.7M	200x	as long as short
Bulk BTC-USD	+0.0100%	1h	86,411.1	−0.019%	$576.0M	$32.8M	40x	as long as short
Extended BTC-USD	+0.0104%	1h	86,342.4	−0.098%	$45.9M	$221.9M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0048%	1h	86,414.3	−0.015%	—	$98.5M	500x	as long as short
Coinbase International BTC-PERP-INTX	+0.0120%	1h	86,433.2	+0.007%	$132.1M	$5.36B	50x	as long as short
Kraken Futures PF_XBTUSDlong	+0.0121%	1h	86,427.4	long leg	$192.3M	$942.0M	100x
Hibachi BTC/USDT-P	+0.0168%	1h	86,481.3	+0.062%	$711K	$7.9M	30x	as long as short
Aftermath Perps BTCUSD	+0.0170%	1h	86,429.5	+0.002%	$78K	$217K	20x	as long as short
BloFin BTC-USDT	+0.0203%	8h	86,392.8	−0.040%	$415.6M	$642.5M	150x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0206% / S −0.0220%	1h	86,409.1	−0.021%	$14.5M	—	200x	as long as short
Kalshi KXBTCPERP	+0.0208%	8h	86,428	+0.001%	$10.4M	$764.6M	6.4x	as long as short