Settings8H · net · $10k
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Funding arb · Price arb /

BTC

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Alert: funding
Measured
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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.

Alert: spread
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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 you earn now, next payment 01:00 UTC+0.0021%/8h= +2.3% APRnext payment +$0.03 per $10,000 · paid last 24h −0.008%
Price spread now: Kraken Futures against Polymarket Perps+0.036%7-day average +0.014% · you sell dearer than you buy
Net, funding: paid 7d − costs−$24as in the Funding arb table
Net, price: spread back to 7d avg − costs−$17as in the Price arb table
costs, in and out, $10k−$200.195% of the position
Long on Polymarket PerpsShort on Kraken Futures
What this pair did over the last
the charts below follow
Funding, last 7 days−0.040%−$4 on $10k
Price spread, last 3 days (all we have)−0.026%−$3 · spread now +0.036%, 7d avg +0.014%
Together, before fees−0.065%−$7 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and Kraken Futures is 0.022% dearer against Polymarket Perps than usual: you sell high and buy low: +$2 more if the spread goes back to its 7-day average of +0.014%.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongPolymarket Perps BTC-USD86,3130.0100pay 0.0013% / 1h48m 23s$11.1M$14.1M50x
ShortKraken Futures PF_XBTUSD86,344.50.0121get 0.0015% / 1h48m 23s$191.9M$951.4M100x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Kraken Futures against Polymarket Perps. 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

Funding earned
$4.44
Price spread: +0.036% → +0.014%
$2.21
Slippage, 4 orders
−$1.54
Fee Polymarket Perps: 4 bp × 2 orders
−$8
Fee Kraken Futures: 5 bp × 2 orders
−$10
Net
−$12.89
Costs to cover
0.195%
Break-even
27.3 days
Slippage from Polymarket Perps: live order book, 6 min ago; Kraken Futures: live order book, 6 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy Polymarket Perps live order book, 6 min ago0.06 bp4.2 bp −$44.6 bp −$467.8 bp −$779doesn't fit
Sell Kraken Futures live order book, 6 min ago0.06 bp5.1 bp −$55.8 bp −$586.7 bp −$6718.7 bp −$4,352

BTC on 56 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Phoenix BTC−0.0129%1h86,441+0.148%$2.2M$11.2M40xas long as short
Hotstuff BTC-PERP−0.0080%1h86,315+0.002%$9K$3K50xas long as short
01 Exchange BTCUSD−0.0032%1h86,326.4+0.016%$361K$2.4M50xas long as short
Perpl BTC0.0000%43m86,349.1+0.042%$481K$22.0M6.7xas long as short
gTrade (Gains Network) BTC/USDL +0.0005% / S −0.0004%1h86,345+0.037%$36.9M—200xas long as short
Deribit BTC-PERPETUAL+0.0007%1h86,348.4+0.041%$902.7M$1.51B50xas long as short
Aster BTCUSDT+0.0015%8h86,313.20.000%$500.6M$1.15B200xas long as short
dYdX BTC-USD+0.0016%1h86,346.1+0.038%$16.9M$20.6M50xas long as short
Injective BTC/USDC PERP+0.0023%1h86,616+0.351%$333K$26.9M52xas long as short
KuCoin XBTUSDTM+0.0031%8h86,315.8+0.003%$829.6M$723.9M125xas long as short
Show all 56 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Reya BTCRUSDPERP+0.0041%1h86,315.1+0.002%$6.7M$145.7M40xas long as short
BingX BTC-USDC+0.0047%8h86,314.8+0.002%—$15.3M—as long as short
RISEx BTC/USDC+0.0052%1h86,325.6+0.015%$8.2M$42.8M25xas long as short
Bitget BTCUSDT+0.0060%8h86,326.8+0.016%$2.97B$5.09B150xas long as short
Aevo BTC-PERP+0.0072%1h86,531.4+0.253%$2.5M$1.5M20xas long as short
MEXC BTC_USDT+0.0075%8h86,320.7+0.009%$5.13B$5.67B500xas long as short
Binance BTCUSDT+0.0076%8h86,327.4+0.017%$9.41B$24.51B150xas long as short
ApeX Omni BTCUSDT+0.0088%1h86,304.8−0.010%$141.4M$323.2M100xas long as short
SoDEX BTC-USD+0.0089%1h86,325+0.014%$60.4M$338.2M40xas long as short
Lighter BTC+0.0096%1h86,352.3+0.046%$170.1M$981.7M50xas long as short
Lighter RH BTC+0.0096%1h86,355.5+0.049%$23.7M$148.8M50xas long as short
GRVT BTC_USDT_Perp+0.0096%8h86,431.6+0.137%$216.9M$167.8M50xas long as short
Popdex BTCUSDT+0.0096%1h86,319+0.007%$8.4M$52.2M100xas long as short
Katana Perps BTC-USD+0.0100%8h86,300−0.015%$205K$7.1M50xas long as short
Paradex BTC-USD-PERP+0.0100%8h86,371.3+0.068%$4.7M$8.5M50xas long as short
Nado BTC-PERP+0.0100%1h86,333.4+0.024%$22.0M$232.1M50xas long as short
Hyperliquid BTC+0.0100%1h86,392+0.092%$3.79B$5.04B40xas long as short
Pacifica BTC+0.0100%1h86,364.5+0.060%$40.7M$546.1M50xas long as short
Bybit BTCUSDT+0.0100%8h86,335.4+0.026%$5.26B$9.75B150xas long as short
OKX BTC-USDT-SWAP+0.0100%8h86,340.6+0.032%$2.56B$12.63B100xas long as short
Ondo Perps BTC-USD.P+0.0100%1h86,330+0.020%$3.9M$18.0M25xas long as short
Arcus BTC-USD+0.0100%1h86,347.9+0.040%$7.3M$95.9M40xas long as short
Gate BTC_USDT+0.0100%8h86,322.6+0.011%$5.81B$10.49B200xas long as short
Backpack BTC_USDC_PERP+0.0100%1h86,344.1+0.036%$37.5M$155.4M75xas long as short
Variational Omni BTC+0.0100%8h86,309.8−0.004%$157.9M$567.5M—as long as short
edgeX BTCUSDC+0.0100%4h86,419.2+0.123%$279.1M$949.0M100xas long as short
StandX BTC-USD+0.0100%1h86,317.3+0.005%$30.6M$208.4M40xas long as short
Vest BTC-PERP+0.0100%1h86,363.6+0.059%—$11.9M50xas long as short
Polymarket Perps BTC-USDlong+0.0100%1h86,313long leg$11.1M$14.1M50x
Bullet BTC-USD+0.0100%1h86,320+0.008%$192K$3.3M20xas long as short
Orderly PERP_BTC_USDC+0.0100%8h86,329.1+0.019%$2.5M$9.0M100xas long as short
Bluefin BTC-PERP+0.0100%1h86,354.8+0.048%$140K$663K40xas long as short
Derive BTC-PERP+0.0100%1h86,354.3+0.048%$30.4M$62.6M15xas long as short
SunX BTC-USDT+0.0100%8h86,318.4+0.006%$3.4M$5.3M100xas long as short
HTX BTC-USDT+0.0100%8h86,338.8+0.030%$2.29B$968.0M200xas long as short
Phemex BTCUSDT+0.0100%8h86,355.6+0.049%$153.3M$478.8M150xas long as short
Bulk BTC-USD+0.0100%1h86,336.3+0.027%$571.6M$13.0M40xas long as short
Extended BTC-USD+0.0104%1h86,310.9−0.002%$45.9M$224.0M50xas long as short
Jupiter Perps WBTC-PERPL +0.0104% / S +0.0048%1h86,340.3+0.032%—$99.6M500xas long as short
Coinbase International BTC-PERP-INTX+0.0120%1h86,382.5+0.081%$132.5M$5.56B50xas long as short
Kraken Futures PF_XBTUSDshort+0.0121%1h86,344.5+0.036%$191.9M$951.4M100x
Hibachi BTC/USDT-P+0.0160%1h86,361.2+0.056%$710K$8.0M30xas long as short
Aftermath Perps BTCUSD+0.0163%1h86,395.2+0.095%$77K$221K20xas long as short
BloFin BTC-USDT+0.0195%8h86,345.4+0.038%$414.9M$653.4M150xas long as short
GMX BTC/USD [WBTC.b-USDC]L +0.0202% / S −0.0215%1h86,331.4+0.021%$14.5M—200xas long as short
Kalshi KXBTCPERP+0.0211%8h86,344+0.036%$9.7M$760.8M6.4xas long as short