Funding you earn now, next payment 03:00 UTC−0.0640%/8h= −70.1% APRpaid last 24h −0.161%
Price spread now: Bluefin against OKX+0.021%7-day average −0.020% · you sell dearer than you buy
Net, funding: paid 7d − costs−$49as in the Funding arb table
Net, price: spread back to 7d avg − costs−$18as in the Price arb table
costs, in and out, $10k−$220.220% of the position
Funding, last 7 days−0.269%−$27 on $10k
+Price spread, last 4 days (all we have)−0.103%−$10 · spread now +0.021%, 7d avg −0.020%
=The price spread pays, funding is against you. Bluefin is 0.041% dearer against OKX than usual: you sell high and buy low (spread +0.021% now, against its 7-day average of −0.020%): +$4 on $10k if it goes back. Holding the pair costs −$19 a day in funding at the current rate, which eats that in about 5 hours. At the pace of the last 7 days (−0.269% in total) that is about 26 hours.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.269% in total (about -14.0% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | OKX BTC-USDT-SWAP | 85,678.1 | 0.0100 | pay 0.0100% / 8h | 5h 26m | $2.57B | $12.10B | 100x |
| Short | Bluefin BTC-PERP | 85,696.5 | −0.0540 | pay 0.0067% / 1h | 26m 02s | $196K | $722K | 40x |
OKX BTC-USDT-SWAP
Bluefin BTC-PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Bluefin against OKX. 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
- −$134.39
- Price spread: +0.021% → −0.020%
- $4.1
- Slippage, 4 orders
- −$5.01
- Fee OKX: 5 bp × 2 orders
- −$10
- Fee Bluefin: 3.5 bp × 2 orders
- −$7
- Net
- −$152.3
- Costs to cover
- 0.220%
- Break-even
- never at this rate
Slippage from OKX: live order book, 3 min ago; Bluefin: live order book, 38 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 OKX live order book, 3 min ago | 0.01 bp | 5.0 bp −$5 | 5.2 bp −$52 | 6.6 bp −$663 | 8.0 bp −$3,982 |
| Sell Bluefin live order book, 38 min ago | 0.88 bp | 6.0 bp −$6 | 11.3 bp −$113 | doesn't fit | 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-PERPshort | −0.0540% | 1h | 85,696.5 | +0.021% | $196K | $722K | 40x | |
| Phoenix BTC | −0.0160% | 1h | 85,791 | +0.132% | $2.2M | $10.3M | 40x | as long as short |
| Hotstuff BTC-PERP | −0.0080% | 1h | 85,645 | −0.039% | $8K | $3K | 50x | as long as short |
| 01 Exchange BTCUSD | −0.0040% | 1h | 85,677.5 | −0.001% | $369K | $2.3M | 50x | as long as short |
| BloFin BTC-USDT | −0.0033% | 8h | 85,602.7 | −0.088% | $415.8M | $664.4M | 150x | as long as short |
| dYdX BTC-USD | 0.0000% | 1h | 85,643.1 | −0.041% | $16.8M | $21.1M | 50x | as long as short |
| gTrade (Gains Network) BTC/USD | L +0.0004% / S −0.0004% | 1h | 85,668.8 | −0.011% | $36.6M | — | 200x | as long as short |
| KuCoin XBTUSDTM | +0.0009% | 8h | 85,643.6 | −0.040% | $917.7M | $751.8M | 125x | as long as short |
| Nado BTC-PERP | +0.0010% | 1h | 85,679.3 | +0.001% | $22.6M | $220.3M | 50x | as long as short |
| Aster BTCUSDT | +0.0018% | 8h | 85,642.1 | −0.042% | $516.0M | $1.10B | 200x | as long as short |
Phoenix BTC
Hotstuff BTC-PERP
01 Exchange BTCUSD
BloFin BTC-USDT
dYdX BTC-USD
gTrade (Gains Network) BTC/USD
KuCoin XBTUSDTM
Nado BTC-PERP
Aster BTCUSDTShow all 56 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| BingX BTC-USDC | +0.0054% | 8h | 85,643.3 | −0.041% | — | $17.0M | — | as long as short |
| Bitget BTCUSDT | +0.0069% | 8h | 85,666.2 | −0.014% | $2.95B | $5.02B | 150x | as long as short |
| Reya BTCRUSDPERP | +0.0070% | 1h | 85,655 | −0.027% | $6.7M | $146.5M | 40x | as long as short |
| HTX BTC-USDT | +0.0073% | 8h | 85,664.3 | −0.016% | $2.27B | $934.4M | 200x | as long as short |
| Deribit BTC-PERPETUAL | +0.0077% | 1h | 85,694.6 | +0.019% | $892.1M | $1.53B | 50x | as long as short |
| Phemex BTCUSDT | +0.0077% | 8h | 85,649.5 | −0.033% | $148.0M | $479.7M | 150x | as long as short |
| Injective BTC/USDC PERP | +0.0079% | 1h | 85,727 | +0.057% | $340K | $26.9M | 52x | as long as short |
| Aevo BTC-PERP | +0.0080% | 1h | 85,645.2 | −0.038% | $2.5M | $1.7M | 20x | as long as short |
| SunX BTC-USDT | +0.0084% | 8h | 85,664.1 | −0.016% | $2.9M | $6.1M | 100x | as long as short |
| Binance BTCUSDT | +0.0086% | 8h | 85,662.7 | −0.018% | $9.35B | $23.90B | 150x | as long as short |
| MEXC BTC_USDT | +0.0087% | 8h | 85,662.7 | −0.018% | $5.05B | $5.63B | 500x | as long as short |
| Lighter BTC | +0.0096% | 1h | 85,660 | −0.021% | $170.0M | $992.6M | 50x | as long as short |
| Lighter RH BTC | +0.0096% | 1h | 85,663.2 | −0.017% | $23.9M | $148.5M | 50x | as long as short |
| Popdex BTCUSDT | +0.0096% | 1h | 85,679 | +0.001% | $8.4M | $52.0M | 100x | as long as short |
| Paradex BTC-USD-PERP | +0.0100% | 8h | 85,675.9 | −0.003% | $3.8M | $8.2M | 50x | as long as short |
| Katana Perps BTC-USD | +0.0100% | 8h | 85,647 | −0.036% | $197K | $7.8M | 50x | as long as short |
| Hyperliquid BTC | +0.0100% | 1h | 85,739 | +0.071% | $3.74B | $5.00B | 40x | as long as short |
| Pacifica BTC | +0.0100% | 1h | 85,675.3 | −0.003% | $40.1M | $574.8M | 50x | as long as short |
| Bybit BTCUSDT | +0.0100% | 8h | 85,677.6 | −0.001% | $5.33B | $9.57B | 150x | as long as short |
| OKX BTC-USDT-SWAPlong | +0.0100% | 8h | 85,678.1 | long leg | $2.57B | $12.10B | 100x | |
| Ondo Perps BTC-USD.P | +0.0100% | 1h | 85,657 | −0.025% | $3.9M | $18.0M | 25x | as long as short |
| Arcus BTC-USD | +0.0100% | 1h | 85,640.5 | −0.044% | $7.1M | $97.1M | 40x | as long as short |
| Gate BTC_USDT | +0.0100% | 8h | 85,660 | −0.021% | $5.55B | $10.53B | 200x | as long as short |
| Backpack BTC_USDC_PERP | +0.0100% | 1h | 85,645.7 | −0.038% | $35.0M | $173.3M | 75x | as long as short |
| Variational Omni BTC | +0.0100% | 8h | 85,642.5 | −0.042% | $157.0M | $548.0M | — | as long as short |
| edgeX BTCUSDC | +0.0100% | 4h | 85,703.1 | +0.029% | $279.9M | $919.7M | 100x | as long as short |
| GRVT BTC_USDT_Perp | +0.0100% | 8h | 85,747.2 | +0.081% | $215.3M | $166.6M | 50x | as long as short |
| ApeX Omni BTCUSDT | +0.0100% | 1h | 85,800 | +0.142% | $140.4M | $316.0M | 100x | as long as short |
| StandX BTC-USD | +0.0100% | 1h | 85,679.9 | +0.002% | $30.3M | $209.9M | 40x | as long as short |
| Vest BTC-PERP | +0.0100% | 1h | 85,707.5 | +0.034% | — | $11.8M | 50x | as long as short |
| Polymarket Perps BTC-USD | +0.0100% | 1h | 85,664 | −0.016% | $11.0M | $14.1M | 50x | as long as short |
| Bullet BTC-USD | +0.0100% | 1h | 85,661 | −0.020% | $190K | $3.3M | 20x | as long as short |
| Orderly PERP_BTC_USDC | +0.0100% | 8h | 85,649.3 | −0.034% | $2.3M | $8.8M | 100x | as long as short |
| Derive BTC-PERP | +0.0100% | 1h | 85,652.9 | −0.029% | $30.0M | $51.0M | 15x | as long as short |
| SoDEX BTC-USD | +0.0100% | 1h | 85,655 | −0.027% | $60.0M | $336.2M | 40x | as long as short |
| Bulk BTC-USD | +0.0100% | 1h | 85,614.4 | −0.074% | $621.3M | $398.6M | 40x | as long as short |
| Extended BTC-USD | +0.0104% | 1h | 85,643.2 | −0.041% | $44.1M | $226.8M | 50x | as long as short |
| Jupiter Perps WBTC-PERP | L +0.0104% / S +0.0056% | 1h | 85,643.5 | −0.040% | — | $106.3M | 500x | as long as short |
| Coinbase International BTC-PERP-INTX | +0.0112% | 1h | 85,696.8 | +0.022% | $130.3M | $5.10B | 50x | as long as short |
| RISEx BTC/USDC | +0.0120% | 1h | 85,704.5 | +0.031% | $8.4M | $42.2M | 25x | as long as short |
| Kraken Futures PF_XBTUSD | +0.0138% | 1h | 85,678.5 | +0.001% | $188.7M | $951.5M | 100x | as long as short |
| Aftermath Perps BTCUSD | +0.0193% | 1h | 85,689.7 | +0.014% | $78K | $219K | 20x | as long as short |
| GMX BTC/USD [WBTC.b-USDC] | L +0.0203% / S −0.0179% | 1h | 85,666.5 | −0.014% | $13.6M | — | 200x | as long as short |
| Hibachi BTC/USDT-P | +0.0208% | 1h | 85,663.6 | −0.017% | $701K | $7.8M | 30x | as long as short |
| Kalshi KXBTCPERP | +0.0217% | 8h | 85,683 | +0.006% | $10.4M | $757.2M | 6.4x | as long as short |
| Perpl BTC | +0.0447% | 43m | 85,694.9 | +0.020% | $515K | $19.3M | 6.7x | as long as short |
BingX BTC-USDC
Bitget BTCUSDT
Reya BTCRUSDPERP
HTX BTC-USDT
Deribit BTC-PERPETUAL
Phemex BTCUSDT
Injective BTC/USDC PERP
Aevo BTC-PERP
SunX BTC-USDT
Binance BTCUSDT
MEXC BTC_USDT
Lighter BTC
Lighter RH BTC
Popdex BTCUSDT
Paradex BTC-USD-PERP
Katana Perps BTC-USD
Hyperliquid BTC
Pacifica BTC
Bybit BTCUSDT
Ondo Perps BTC-USD.P
Arcus BTC-USD
Gate BTC_USDT
Backpack BTC_USDC_PERP
Variational Omni BTC
edgeX BTCUSDC
GRVT BTC_USDT_Perp
ApeX Omni BTCUSDT
StandX BTC-USD
Vest BTC-PERP
Polymarket Perps BTC-USD
Bullet BTC-USD
Orderly PERP_BTC_USDC
Derive BTC-PERP
SoDEX BTC-USD
Bulk BTC-USD
Extended BTC-USD
Jupiter Perps WBTC-PERP
Coinbase International BTC-PERP-INTX
RISEx BTC/USDC
Kraken Futures PF_XBTUSD
Aftermath Perps BTCUSD
GMX BTC/USD [WBTC.b-USDC]
Hibachi BTC/USDT-P
Kalshi KXBTCPERP
Perpl BTC