Funding you earn now, next payment 01:00 UTC+0.0060%/8h= +6.6% APRnext payment +$0.08 per $10,000 · paid last 24h +0.035%
Price spread now: Backpack against Reya+0.042%7-day average +0.024% · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 3 days (all we have)−0.059%−$6 on $10k
+Price spread, last 7 days−0.594%−$59 · spread now +0.042%, 7d avg +0.024%
=Together, before fees−0.653%+ Points / potential airdropReya: Active · farm board−$65 on $10k · with fees, hour by hour
The price spread sits at its 7-day average of +0.024%, so right now this pair is about funding alone: +$2 a day on $10k at the current rate. Mind the row above: over the last 3 days funding on this pair cost −0.059%, so the current rate has only just turned in your favour.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Reya BTCRUSDPERP | 86,372.9 | 0.0040 | pay 0.0005% / 1h | 55m 27s | $6.7M | $145.7M | 40x |
| Short | Backpack BTC_USDC_PERP | 86,409.4 | 0.0100 | get 0.0013% / 1h | 55m 27s | $37.7M | $156.1M | 75x |
Reya BTCRUSDPERP
Backpack BTC_USDC_PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Backpack against Reya. 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
- $12.64
- Price spread: +0.042% → +0.024%
- $1.79
- Slippage, 4 orders
- no order book: not counted
- Fee Reya: 3 bp × 2 orders
- −$6
- Fee Backpack: 5 bp × 2 orders
- −$10
- Net
- −$1.57
- Costs to cover
- 0.160%
- Break-even
- 7.9 days
Slippage unknown: Reya: no order-book sample; Backpack: live order book, 4 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 Reya no order-book sample | — | — | — | — | — |
| Sell Backpack live order book, 4 min ago | 0.01 bp | 5.0 bp −$5 | 5.0 bp −$50 | 5.6 bp −$563 | 21.6 bp −$10.8K |
Reya: 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 | |
|---|---|---|---|---|---|---|---|---|
| Bluefin BTC-PERP | −0.0874% | 1h | 86,438.1 | +0.076% | $140K | $664K | 40x | as long as short |
| ApeX Omni BTCUSDT | −0.0120% | 1h | 86,477.3 | +0.121% | $141.6M | $323.3M | 100x | as long as short |
| Phoenix BTC | −0.0118% | 1h | 86,544 | +0.198% | $2.2M | $11.2M | 40x | as long as short |
| Hotstuff BTC-PERP | −0.0080% | 1h | 86,401 | +0.033% | $9K | $3K | 50x | as long as short |
| 01 Exchange BTCUSD | −0.0032% | 1h | 86,387 | +0.016% | $361K | $2.4M | 50x | as long as short |
| Perpl BTC | 0.0000% | 43m | 86,457.4 | +0.098% | $416K | $22.2M | 6.7x | as long as short |
| gTrade (Gains Network) BTC/USD | L +0.0005% / S −0.0004% | 1h | 86,433.3 | +0.070% | $36.9M | — | 200x | as long as short |
| dYdX BTC-USD | +0.0007% | 1h | 86,458.7 | +0.099% | $16.9M | $21.2M | 50x | as long as short |
| Aster BTCUSDT | +0.0015% | 8h | 86,394 | +0.024% | $501.1M | $1.15B | 200x | as long as short |
| Injective BTC/USDC PERP | +0.0023% | 1h | 86,616 | +0.281% | $333K | $26.9M | 52x | as long as short |
Bluefin BTC-PERP
ApeX Omni BTCUSDT
Phoenix BTC
Hotstuff BTC-PERP
01 Exchange BTCUSD
Perpl BTC
gTrade (Gains Network) BTC/USD
dYdX BTC-USD
Aster BTCUSDT
Injective BTC/USDC PERPShow all 56 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| GRVT BTC_USDT_Perp | +0.0026% | 8h | 86,468.8 | +0.111% | $217.1M | $171.1M | 50x | as long as short |
| KuCoin XBTUSDTM | +0.0029% | 8h | 86,400.3 | +0.032% | $833.6M | $727.4M | 125x | as long as short |
| Deribit BTC-PERPETUAL | +0.0035% | 1h | 86,448.9 | +0.088% | $907.1M | $1.50B | 50x | as long as short |
| Reya BTCRUSDPERPlong | +0.0040% | 1h | 86,372.9 | long leg | $6.7M | $145.7M | 40x | |
| BingX BTC-USDT | +0.0046% | 8h | 86,393.6 | +0.024% | — | $1.59B | — | as long as short |
| RISEx BTC/USDC | +0.0052% | 1h | 86,383.9 | +0.013% | $8.3M | $42.9M | 25x | as long as short |
| Bitget BTCUSDT | +0.0059% | 8h | 86,370.9 | −0.002% | $2.96B | $5.11B | 150x | as long as short |
| SoDEX BTC-USD | +0.0062% | 1h | 86,409 | +0.042% | $60.4M | $338.1M | 40x | as long as short |
| Binance BTCUSDT | +0.0076% | 8h | 86,375.4 | +0.003% | $9.43B | $24.52B | 150x | as long as short |
| MEXC BTC_USDT | +0.0076% | 8h | 86,400.1 | +0.032% | $5.14B | $5.64B | 500x | as long as short |
| Aevo BTC-PERP | +0.0080% | 1h | 86,451.9 | +0.092% | $2.5M | $1.3M | 20x | as long as short |
| Popdex BTCUSDT | +0.0088% | 1h | 86,381 | +0.009% | $8.4M | $52.3M | 100x | as long as short |
| Lighter BTC | +0.0096% | 1h | 86,414.9 | +0.049% | $170.1M | $980.0M | 50x | as long as short |
| Lighter RH BTC | +0.0096% | 1h | 86,421.5 | +0.056% | $23.7M | $148.6M | 50x | as long as short |
| Katana Perps BTC-USD | +0.0100% | 8h | 86,363 | −0.011% | $198K | $7.1M | 50x | as long as short |
| Paradex BTC-USD-PERP | +0.0100% | 8h | 86,418.2 | +0.052% | $4.8M | $8.5M | 50x | as long as short |
| Nado BTC-PERP | +0.0100% | 1h | 86,407.6 | +0.040% | $22.1M | $233.2M | 50x | as long as short |
| Hyperliquid BTC | +0.0100% | 1h | 86,475 | +0.118% | $3.79B | $5.11B | 40x | as long as short |
| Pacifica BTC | +0.0100% | 1h | 86,426 | +0.062% | $40.7M | $540.8M | 50x | as long as short |
| Bybit BTCUSDT | +0.0100% | 8h | 86,377.6 | +0.005% | $5.26B | $9.77B | 150x | as long as short |
| OKX BTC-USDT-SWAP | +0.0100% | 8h | 86,385.6 | +0.015% | $2.55B | $12.69B | 100x | as long as short |
| Ondo Perps BTC-USD.P | +0.0100% | 1h | 86,424 | +0.059% | $3.9M | $18.0M | 25x | as long as short |
| Arcus BTC-USD | +0.0100% | 1h | 86,420.7 | +0.055% | $7.3M | $96.6M | 40x | as long as short |
| Bulk BTC-USD | +0.0100% | 1h | 86,523.6 | +0.174% | $572.9M | $12.4M | 40x | as long as short |
| Gate BTC_USDT | +0.0100% | 8h | 86,384.7 | +0.014% | $5.85B | $10.43B | 200x | as long as short |
| Backpack BTC_USDC_PERPshort | +0.0100% | 1h | 86,409.4 | +0.042% | $37.7M | $156.1M | 75x | |
| Variational Omni BTC | +0.0100% | 8h | 86,440 | +0.078% | $157.9M | $568.6M | — | as long as short |
| edgeX BTCUSDC | +0.0100% | 4h | 86,483.7 | +0.128% | $279.3M | $947.5M | 100x | as long as short |
| StandX BTC-USD | +0.0100% | 1h | 86,422.6 | +0.058% | $30.7M | $208.3M | 40x | as long as short |
| Vest BTC-PERP | +0.0100% | 1h | 86,437 | +0.074% | — | $11.9M | 50x | as long as short |
| Polymarket Perps BTC-USD | +0.0100% | 1h | 86,377 | +0.005% | $11.0M | $14.0M | 50x | as long as short |
| Bullet BTC-USD | +0.0100% | 1h | 86,409.8 | +0.043% | $193K | $3.3M | 20x | as long as short |
| Orderly PERP_BTC_USDC | +0.0100% | 8h | 86,404.6 | +0.037% | $2.5M | $9.3M | 100x | as long as short |
| Derive BTC-PERP | +0.0100% | 1h | 86,446.5 | +0.085% | $30.5M | $62.7M | 15x | as long as short |
| SunX BTC-USDT | +0.0100% | 8h | 86,398.5 | +0.030% | $3.4M | $5.3M | 100x | as long as short |
| HTX BTC-USDT | +0.0100% | 8h | 86,419.2 | +0.054% | $2.29B | $969.2M | 200x | as long as short |
| Phemex BTCUSDT | +0.0100% | 8h | 86,417.3 | +0.051% | $152.9M | $479.4M | 150x | as long as short |
| Extended BTC-USD | +0.0104% | 1h | 86,364.1 | −0.010% | $45.8M | $224.8M | 50x | as long as short |
| Jupiter Perps WBTC-PERP | L +0.0104% / S +0.0048% | 1h | 86,466.3 | +0.108% | — | $99.9M | 500x | as long as short |
| Coinbase International BTC-PERP-INTX | +0.0120% | 1h | 86,461 | +0.102% | $132.5M | $5.61B | 50x | as long as short |
| Kraken Futures PF_XBTUSD | +0.0121% | 1h | 86,449.1 | +0.088% | $193.0M | $951.2M | 100x | as long as short |
| Aftermath Perps BTCUSD | +0.0165% | 1h | 86,537.8 | +0.191% | $78K | $218K | 20x | as long as short |
| Hibachi BTC/USDT-P | +0.0176% | 1h | 86,443.7 | +0.082% | $715K | $8.0M | 30x | as long as short |
| BloFin BTC-USDT | +0.0197% | 8h | 86,444.4 | +0.083% | $414.8M | $658.9M | 150x | as long as short |
| GMX BTC/USD [WBTC.b-USDC] | L +0.0201% / S −0.0222% | 1h | 86,425.4 | +0.061% | $14.8M | — | 200x | as long as short |
| Kalshi KXBTCPERP | +0.0212% | 8h | 86,467 | +0.109% | $9.2M | $758.1M | 6.4x | as long as short |
GRVT BTC_USDT_Perp
KuCoin XBTUSDTM
Deribit BTC-PERPETUAL
BingX BTC-USDT
RISEx BTC/USDC
Bitget BTCUSDT
SoDEX BTC-USD
Binance BTCUSDT
MEXC BTC_USDT
Aevo BTC-PERP
Popdex BTCUSDT
Lighter BTC
Lighter RH BTC
Katana Perps BTC-USD
Paradex BTC-USD-PERP
Nado BTC-PERP
Hyperliquid BTC
Pacifica BTC
Bybit BTCUSDT
OKX BTC-USDT-SWAP
Ondo Perps BTC-USD.P
Arcus BTC-USD
Bulk BTC-USD
Gate BTC_USDT
Variational Omni BTC
edgeX BTCUSDC
StandX BTC-USD
Vest BTC-PERP
Polymarket Perps BTC-USD
Bullet BTC-USD
Orderly PERP_BTC_USDC
Derive BTC-PERP
SunX BTC-USDT
HTX BTC-USDT
Phemex BTCUSDT
Extended BTC-USD
Jupiter Perps WBTC-PERP
Coinbase International BTC-PERP-INTX
Kraken Futures PF_XBTUSD
Aftermath Perps BTCUSD
Hibachi BTC/USDT-P
BloFin BTC-USDT
GMX BTC/USD [WBTC.b-USDC]
Kalshi KXBTCPERP