BTC

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC+0.0023%/8h= +2.5% APRnext payment +$0.03 per $10,000 · paid last 24h +0.022%

Price spread now: RISEx against Reya+0.024%7-day average +0.044% · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Reya Short on RISEx

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.022%+$2 on $10k

Price spread, last 7 days+0.032%+$3 · spread now +0.024%, 7d avg +0.044%

Together, before fees+0.054%+ Points / potential airdropReya: Active · farm board+$5 on $10k · with fees, hour by hour

Funding pays, the price is against you. RISEx is 0.021% cheaper against Reya than usual: you would sell low and buy high (spread +0.024% now, against its 7-day average of +0.044%). If the spread goes back, that is −$2 on $10k: about 3.0 days of funding at the current rate (+$1 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Reya BTCRUSDPERP	85,976.4	0.0164	pay 0.0021% / 1h	44m 55s	$6.6M	$131.1M	40x
Short	RISEx BTC/USDC	85,996.7	0.0187	get 0.0023% / 1h	44m 55s	$8.9M	$37.1M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

RISEx against Reya. 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 ReyabpFee RISExbpOrdersPrice spread, now +0.024%Rate

Funding earned: $4.8
Price spread: +0.024% → +0.044%: −$2.08
Slippage, 4 orders: no order book: not counted
Fee Reya: 3 bp × 2 orders: −$6
Fee RISEx: 3 bp × 2 orders: −$6
Net: −$9.28
Costs to cover: 0.120%
Break-even: 20.5 days

Slippage unknown: Reya: no order-book sample; RISEx: live order book, 7 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 RISEx live order book, 7 min ago	0.01 bp	3.6 bp −$4	3.8 bp −$38	11.6 bp −$1,156	doesn't fit

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 55 exchanges

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
Phoenix BTC	−0.0133%	1h	85,986	+0.011%	$2.1M	$7.8M	40x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	86,142	+0.193%	$8K	$2K	50x	as long as short
ApeX Omni BTCUSDT	−0.0043%	1h	86,037.1	+0.071%	$137.9M	$295.3M	100x	as long as short
01 Exchange BTCUSD	−0.0040%	1h	85,982	+0.007%	$364K	$2.0M	50x	as long as short
BloFin BTC-USDT	−0.0022%	8h	85,992.3	+0.018%	$422.1M	$562.8M	150x	as long as short
SoDEX BTC-USD	−0.0021%	1h	85,991	+0.017%	$65.9M	$187.9M	40x	as long as short
dYdX BTC-USD	0.0000%	1h	86,014.4	+0.044%	$16.9M	$14.5M	50x	as long as short
Perpl BTC	0.0000%	43m	85,988	+0.013%	$477K	$13.8M	6.7x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0004% / S −0.0004%	1h	86,015.4	+0.045%	$36.8M	—	200x	as long as short
Injective BTC/USDC PERP	+0.0009%	1h	85,982	+0.007%	$300K	$26.6M	52x	as long as short

Show all 55 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster BTCUSDT	+0.0027%	8h	85,994.7	+0.021%	$512.6M	$874.5M	200x	as long as short
Kraken Futures PF_XBTUSD	+0.0030%	1h	86,017.1	+0.047%	$191.9M	$768.7M	100x	as long as short
BingX BTC-USDC	+0.0030%	8h	85,978	+0.002%	—	$16.3M	—	as long as short
Bybit BTCUSDT	+0.0040%	8h	86,007.6	+0.036%	$5.14B	$8.13B	150x	as long as short
KuCoin XBTUSDTM	+0.0054%	8h	86,006.6	+0.035%	$943.4M	$633.5M	125x	as long as short
Popdex BTCUSDT	+0.0056%	1h	85,985	+0.010%	$8.5M	$45.6M	100x	as long as short
Gate BTC_USDT	+0.0061%	8h	86,013.2	+0.043%	$5.51B	$8.90B	200x	as long as short
Bitget BTCUSDT	+0.0092%	8h	86,006	+0.034%	$2.99B	$3.96B	150x	as long as short
HTX BTC-USDT	+0.0092%	8h	85,978.4	+0.002%	$2.27B	$803.4M	200x	as long as short
Phemex BTCUSDT	+0.0094%	8h	86,004.2	+0.032%	$170.7M	$478.6M	150x	as long as short
Lighter BTC	+0.0096%	1h	86,008.3	+0.037%	$173.5M	$856.1M	50x	as long as short
Lighter RH BTC	+0.0096%	1h	86,015.2	+0.045%	$23.4M	$119.5M	50x	as long as short
Aevo BTC-PERP	+0.0096%	1h	85,969.7	−0.008%	$2.4M	$6.8M	20x	as long as short
Binance BTCUSDT	+0.0097%	8h	86,000.4	+0.028%	$9.44B	$20.54B	150x	as long as short
MEXC BTC_USDT	+0.0097%	8h	86,001.1	+0.029%	$5.16B	$4.83B	500x	as long as short
Bullet BTC-USD	+0.0098%	1h	85,984.9	+0.010%	$206K	$3.2M	20x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	85,955	−0.025%	$217K	$8.1M	50x	as long as short
Paradex BTC-USD-PERP	+0.0100%	8h	86,007.7	+0.036%	$6.0M	$7.6M	50x	as long as short
Nado BTC-PERP	+0.0100%	1h	85,972	−0.005%	$23.5M	$195.4M	50x	as long as short
Pacifica BTC	+0.0100%	1h	86,018.2	+0.049%	$40.1M	$571.2M	50x	as long as short
OKX BTC-USDT-SWAP	+0.0100%	8h	86,014.2	+0.044%	$2.62B	$9.49B	100x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	85,981	+0.005%	$4.0M	$15.0M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	86,002	+0.030%	$4.7M	$91.0M	40x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	86,007.2	+0.036%	$38.2M	$195.2M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	86,020.9	+0.052%	$157.1M	$474.6M	—	as long as short
edgeX BTCUSDC	+0.0100%	4h	86,033.8	+0.067%	$289.7M	$815.0M	100x	as long as short
GRVT BTC_USDT_Perp	+0.0100%	8h	86,026.6	+0.058%	$216.1M	$134.1M	50x	as long as short
StandX BTC-USD	+0.0100%	1h	86,073.2	+0.113%	$30.3M	$223.8M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	86,040.6	+0.075%	—	$9.5M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	85,981	+0.005%	$11.1M	$12.0M	50x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	85,981.8	+0.006%	$2.6M	$8.9M	100x	as long as short
Bluefin BTC-PERP	+0.0100%	1h	86,032.3	+0.065%	$195K	$555K	40x	as long as short
SunX BTC-USDT	+0.0100%	8h	85,996.8	+0.024%	$3.3M	$6.7M	100x	as long as short
Bulk BTC-USD	+0.0100%	1h	86,033.4	+0.066%	$715.3M	$125.7M	40x	as long as short
Extended BTC-USD	+0.0104%	1h	85,984.1	+0.009%	$46.9M	$200.7M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0056%	1h	86,049.9	+0.085%	—	$81.6M	500x	as long as short
Coinbase International BTC-PERP-INTX	+0.0120%	1h	86,045.9	+0.081%	$112.2M	$4.97B	50x	as long as short
Hyperliquid BTC	+0.0153%	1h	86,103	+0.147%	$3.97B	$4.36B	40x	as long as short
Kalshi KXBTCPERP	+0.0159%	8h	86,007	+0.036%	$12.0M	$734.6M	6.4x	as long as short
Reya BTCRUSDPERPlong	+0.0164%	1h	85,976.4	long leg	$6.6M	$131.1M	40x
RISEx BTC/USDCshort	+0.0187%	1h	85,996.7	+0.024%	$8.9M	$37.1M	25x
GMX BTC/USD [WBTC.b-USDC]	L +0.0211% / S −0.0252%	1h	85,996.6	+0.024%	$15.6M	—	200x	as long as short
Deribit BTC-PERPETUAL	+0.0225%	1h	86,046.4	+0.081%	$820.5M	$1.49B	50x	as long as short
Hibachi BTC/USDT-P	+0.0352%	1h	86,080.2	+0.121%	$725K	$7.0M	30x	as long as short
Aftermath Perps BTCUSD	+0.0443%	1h	86,082.3	+0.123%	$79K	$245K	20x	as long as short