BTC

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0018%/8h= +1.9% APRnext payment +$0.02 per $10,000 · paid last 24h −0.020%

Price spread now: Injective against RISEx−0.069%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−$18as in the Price arb table

costs, in and out, $10k−$110.115% of the position

Long on RISEx Short on Injective

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.087%−$9 on $10k

Price spread, last 3 days (all we have)+0.004%$0 · spread now −0.069%, 7d avg −0.002%

Together, before fees−0.083%−$8 on $10k · with fees, hour by hour

Funding pays, the price is against you. Injective is 0.067% cheaper against RISEx than usual: you would sell low and buy high (spread −0.069% now, against its 7-day average of −0.002%). If the spread goes back, that is −$7 on $10k: about 13 days of funding at the current rate (+$1 a day). Mind the row above: over the last 3 days funding on this pair cost −0.087%, 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	RISEx BTC/USDC	86,619	0.0006	pay 0.0001% / 1h	45m 16s	$8.6M	$43.2M	25x
Short	Injective BTC/USDC PERP	86,559	0.0024	get 0.0003% / 1h	45m 16s	$315K	$26.8M	52x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective against RISEx. 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 RISExbpFee InjectivebpOrdersPrice spread, now −0.069%Rate

Funding earned: $3.7
Price spread: −0.069% → −0.002%: −$6.73
Slippage, 4 orders: −$5.45
Fee RISEx: 3 bp × 2 orders: −$6
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$14.49
Costs to cover: 0.115%
Break-even: 34.4 days

Slippage from RISEx: live order book, 4 min ago; Injective: live order book, 4 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 RISEx live order book, 4 min ago	0.01 bp	3.0 bp −$3	3.0 bp −$30	11.1 bp −$1,106	doesn't fit
Sell Injective live order book, 4 min ago	2.08 bp	2.6 bp −$3	12.0 bp −$120	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-PERP	−0.1446%	1h	86,625.8	+0.008%	$141K	$618K	40x	as long as short
Aftermath Perps BTCUSD	−0.0182%	1h	86,586.7	−0.037%	$79K	$199K	20x	as long as short
Phoenix BTC	−0.0159%	1h	86,518	−0.117%	$2.2M	$11.8M	40x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	86,608	−0.013%	$9K	$3K	50x	as long as short
dYdX BTC-USD	−0.0016%	1h	86,587.1	−0.037%	$17.5M	$20.3M	50x	as long as short
Aster BTCUSDT	−0.0007%	8h	86,597.5	−0.025%	$505.5M	$1.15B	200x	as long as short
01 Exchange BTCUSD	0.0000%	1h	86,636.3	+0.020%	$359K	$2.4M	50x	as long as short
Perpl BTC	0.0000%	43m	86,628.4	+0.011%	$421K	$24.1M	6.7x	as long as short
KuCoin XBTUSDTM	+0.0002%	8h	86,611.2	−0.009%	$852.4M	$708.2M	125x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0005% / S −0.0004%	1h	86,626.7	+0.009%	$36.8M	—	200x	as long as short

Show all 56 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
RISEx BTC/USDClong	+0.0006%	1h	86,619	long leg	$8.6M	$43.2M	25x
Reya BTCRUSDPERP	+0.0022%	1h	86,594.5	−0.028%	$6.7M	$144.7M	40x	as long as short
Phemex BTCUSDT	+0.0024%	8h	86,595	−0.028%	$149.6M	$473.0M	150x	as long as short
Injective BTC/USDC PERPshort	+0.0024%	1h	86,559	−0.069%	$315K	$26.8M	52x
Hibachi BTC/USDT-P	+0.0024%	1h	86,594.3	−0.028%	$734K	$8.1M	30x	as long as short
BingX BTC-USDT	+0.0031%	8h	86,581.8	−0.043%	—	$1.59B	—	as long as short
Deribit BTC-PERPETUAL	+0.0035%	1h	86,640.4	+0.025%	$925.1M	$1.47B	50x	as long as short
Bitget BTCUSDT	+0.0040%	8h	86,575.2	−0.051%	$2.95B	$5.07B	150x	as long as short
Aevo BTC-PERP	+0.0056%	1h	86,594	−0.029%	$2.4M	$1.3M	20x	as long as short
MEXC BTC_USDT	+0.0059%	8h	86,581.1	−0.044%	$5.18B	$5.63B	500x	as long as short
Binance BTCUSDT	+0.0059%	8h	86,603.6	−0.018%	$9.43B	$24.32B	150x	as long as short
Gate BTC_USDT	+0.0084%	8h	86,601.4	−0.020%	$5.86B	$10.63B	200x	as long as short
Bybit BTCUSDT	+0.0088%	8h	86,591	−0.032%	$5.28B	$9.70B	150x	as long as short
SoDEX BTC-USD	+0.0089%	1h	86,600	−0.022%	$60.5M	$336.9M	40x	as long as short
Lighter BTC	+0.0096%	1h	86,610	−0.010%	$172.4M	$998.8M	50x	as long as short
Lighter RH BTC	+0.0096%	1h	86,619.3	0.000%	$24.0M	$151.7M	50x	as long as short
Popdex BTCUSDT	+0.0096%	1h	86,612	−0.008%	$8.5M	$52.2M	100x	as long as short
Nado BTC-PERP	+0.0098%	1h	86,592.9	−0.030%	$21.8M	$233.4M	50x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	86,605	−0.016%	$207K	$6.9M	50x	as long as short
Paradex BTC-USD-PERP	+0.0100%	8h	86,661.4	+0.049%	$4.7M	$8.3M	50x	as long as short
Hyperliquid BTC	+0.0100%	1h	86,658.8	+0.046%	$3.81B	$5.09B	40x	as long as short
Pacifica BTC	+0.0100%	1h	86,645	+0.030%	$40.9M	$504.7M	50x	as long as short
OKX BTC-USDT-SWAP	+0.0100%	8h	86,588.2	−0.036%	$2.55B	$12.69B	100x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	86,621	+0.002%	$3.9M	$18.6M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	86,688.4	+0.080%	$7.4M	$94.0M	40x	as long as short
Bulk BTC-USD	+0.0100%	1h	86,527.4	−0.106%	$571.7M	$19.3M	40x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	86,587.6	−0.036%	$38.2M	$152.8M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	86,560.2	−0.068%	$156.7M	$569.2M	—	as long as short
edgeX BTCUSDC	+0.0100%	4h	86,551.4	−0.078%	$279.5M	$943.5M	100x	as long as short
GRVT BTC_USDT_Perp	+0.0100%	8h	86,562.1	−0.066%	$217.2M	$180.7M	50x	as long as short
ApeX Omni BTCUSDT	+0.0100%	1h	86,583.3	−0.041%	$141.5M	$323.0M	100x	as long as short
StandX BTC-USD	+0.0100%	1h	86,567.6	−0.059%	$30.7M	$202.9M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	86,652.9	+0.039%	—	$11.6M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	86,616	−0.003%	$11.1M	$13.5M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	86,609.5	−0.011%	$193K	$3.3M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	86,609.3	−0.011%	$2.5M	$8.6M	100x	as long as short
Derive BTC-PERP	+0.0100%	1h	86,601.1	−0.021%	$30.0M	$61.6M	15x	as long as short
SunX BTC-USDT	+0.0100%	8h	86,601.9	−0.020%	$3.4M	$5.4M	100x	as long as short
HTX BTC-USDT	+0.0100%	8h	86,602.7	−0.019%	$2.30B	$958.6M	200x	as long as short
Extended BTC-USD	+0.0104%	1h	86,583.3	−0.041%	$46.4M	$224.9M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0048%	1h	86,597.9	−0.024%	—	$98.5M	500x	as long as short
Coinbase International BTC-PERP-INTX	+0.0112%	1h	86,641	+0.025%	$131.8M	$5.74B	50x	as long as short
Kraken Futures PF_XBTUSD	+0.0121%	1h	86,633.6	+0.017%	$191.4M	$936.7M	100x	as long as short
BloFin BTC-USDT	+0.0179%	8h	86,599.9	−0.022%	$415.4M	$653.3M	150x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0180% / S −0.0208%	1h	86,621.5	+0.003%	$15.1M	—	200x	as long as short
Kalshi KXBTCPERP	+0.0189%	8h	86,628	+0.010%	$9.6M	$726.1M	6.4x	as long as short