BTC

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0124%/8h= +13.6% APRnext payment +$0.16 per $10,000 · paid last 24h +0.038%

Price spread now: Deribit against SoDEX+0.050%7-day average +0.055% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$16as in the Price arb table

costs, in and out, $10k−$150.154% of the position

Long on SoDEX Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.047%+$5 on $10k

Price spread, last 3 days (all we have)−0.002%$0 · spread now +0.050%, 7d avg +0.055%

Together, before fees+0.045%+$5 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.055%, so right now this pair is about funding alone: +$4 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SoDEX BTC-USD	85,650	0.0100	pay 0.0013% / 1h	15m 42s	$60.0M	$336.9M	40x
Short	Deribit BTC-PERPETUAL	85,692.8	0.0224	get 0.0028% / 1h	15m 42s	$894.7M	$1.54B	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against SoDEX. 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 SoDEXbpFee DeribitbpOrdersPrice spread, now +0.050%Rate

Funding earned: $26.04
Price spread: +0.050% → +0.055%: −$0.46
Slippage, 4 orders: −$0.36
Fee SoDEX: 4 bp × 2 orders: −$8
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: $10.23
Costs to cover: 0.154%
Break-even: 4.3 days

Slippage from SoDEX: live order book, 3 min ago; Deribit: live order book, 3 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 SoDEX live order book, 3 min ago	0.06 bp	4.1 bp −$4	4.1 bp −$41	5.0 bp −$496	41.2 bp −$20.6K
Sell Deribit live order book, 3 min ago	0.03 bp	3.7 bp −$4	5.0 bp −$50	9.0 bp −$902	17.3 bp −$8,630

BTC on 55 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
Phoenix BTC	−0.0144%	1h	85,785	+0.158%	$2.2M	$10.5M	40x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	85,681	+0.036%	$8K	$3K	50x	as long as short
01 Exchange BTCUSD	−0.0064%	1h	85,668.9	+0.022%	$362K	$2.3M	50x	as long as short
dYdX BTC-USD	+0.0002%	1h	85,649.4	−0.001%	$16.8M	$21.0M	50x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0004% / S −0.0004%	1h	85,673.5	+0.027%	$36.7M	—	200x	as long as short
Injective BTC/USDC PERP	+0.0020%	1h	85,691	+0.048%	$340K	$26.9M	52x	as long as short
KuCoin XBTUSDTM	+0.0030%	8h	85,626.4	−0.028%	$900.3M	$753.8M	125x	as long as short
Aster BTCUSDT	+0.0031%	8h	85,631	−0.022%	$515.8M	$1.14B	200x	as long as short
Nado BTC-PERP	+0.0042%	1h	85,690.3	+0.047%	$22.6M	$227.6M	50x	as long as short
RISEx BTC/USDC	+0.0044%	1h	85,662.3	+0.014%	$8.1M	$42.1M	25x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX BTC-USDC	+0.0055%	8h	85,625.3	−0.029%	—	$17.1M	—	as long as short
HTX BTC-USDT	+0.0059%	8h	85,657.3	+0.009%	$2.27B	$947.7M	200x	as long as short
Reya BTCRUSDPERP	+0.0059%	1h	85,665.9	+0.019%	$6.7M	$146.3M	40x	as long as short
Bitget BTCUSDT	+0.0070%	8h	85,636.9	−0.015%	$2.95B	$5.08B	150x	as long as short
Aevo BTC-PERP	+0.0088%	1h	85,645.5	−0.005%	$2.5M	$1.8M	20x	as long as short
MEXC BTC_USDT	+0.0089%	8h	85,636.3	−0.016%	$5.08B	$5.75B	500x	as long as short
Binance BTCUSDT	+0.0090%	8h	85,635.8	−0.017%	$9.33B	$24.28B	150x	as long as short
ApeX Omni BTCUSDT	+0.0091%	1h	85,637.3	−0.015%	$140.0M	$318.1M	100x	as long as short
Lighter BTC	+0.0096%	1h	85,641.6	−0.010%	$170.5M	$993.0M	50x	as long as short
Lighter RH BTC	+0.0096%	1h	85,650.3	0.000%	$23.5M	$147.8M	50x	as long as short
Popdex BTCUSDT	+0.0096%	1h	85,674	+0.028%	$8.4M	$51.9M	100x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	85,637	−0.015%	$202K	$7.5M	50x	as long as short
Paradex BTC-USD-PERP	+0.0100%	8h	85,653.8	+0.004%	$3.8M	$8.4M	50x	as long as short
Hyperliquid BTC	+0.0100%	1h	85,712	+0.072%	$3.76B	$4.98B	40x	as long as short
Pacifica BTC	+0.0100%	1h	85,674.4	+0.029%	$40.8M	$571.9M	50x	as long as short
Bybit BTCUSDT	+0.0100%	8h	85,648.9	−0.001%	$5.31B	$9.74B	150x	as long as short
OKX BTC-USDT-SWAP	+0.0100%	8h	85,646	−0.005%	$2.54B	$12.33B	100x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	85,638	−0.014%	$3.9M	$18.3M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	85,609.1	−0.048%	$7.2M	$97.5M	40x	as long as short
Gate BTC_USDT	+0.0100%	8h	85,647.2	−0.003%	$5.59B	$10.57B	200x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	85,635.7	−0.017%	$35.3M	$166.0M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	85,650.8	+0.001%	$156.5M	$556.1M	—	as long as short
edgeX BTCUSDC	+0.0100%	4h	85,614.3	−0.042%	$278.4M	$941.4M	100x	as long as short
GRVT BTC_USDT_Perp	+0.0100%	8h	85,656.6	+0.008%	$214.9M	$164.7M	50x	as long as short
StandX BTC-USD	+0.0100%	1h	85,640	−0.012%	$30.3M	$208.8M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	85,728.8	+0.092%	—	$11.8M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	85,673	+0.027%	$11.0M	$14.2M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	85,676	+0.030%	$187K	$3.3M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	85,657.7	+0.009%	$2.4M	$9.1M	100x	as long as short
Bluefin BTC-PERP	+0.0100%	1h	85,693.7	+0.051%	$186K	$708K	40x	as long as short
Derive BTC-PERP	+0.0100%	1h	85,649.3	−0.001%	$29.9M	$56.0M	15x	as long as short
SunX BTC-USDT	+0.0100%	8h	85,635.6	−0.017%	$2.9M	$6.6M	100x	as long as short
SoDEX BTC-USDlong	+0.0100%	1h	85,650	long leg	$60.0M	$336.9M	40x
Phemex BTCUSDT	+0.0100%	8h	85,648.1	−0.002%	$153.1M	$480.9M	150x	as long as short
Bulk BTC-USD	+0.0100%	1h	85,673.6	+0.028%	$597.8M	$234.3M	40x	as long as short
Extended BTC-USD	+0.0104%	1h	85,612.6	−0.044%	$44.0M	$227.9M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0056%	1h	85,683.1	+0.039%	—	$101.8M	500x	as long as short
Coinbase International BTC-PERP-INTX	+0.0112%	1h	85,679.9	+0.035%	$131.2M	$5.15B	50x	as long as short
Hibachi BTC/USDT-P	+0.0144%	1h	85,681.7	+0.037%	$694K	$7.8M	30x	as long as short
Kraken Futures PF_XBTUSD	+0.0146%	1h	85,666.7	+0.020%	$187.8M	$963.5M	100x	as long as short
Aftermath Perps BTCUSD	+0.0171%	1h	85,705.8	+0.065%	$78K	$219K	20x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0203% / S −0.0189%	1h	85,672.1	+0.026%	$13.5M	—	200x	as long as short
Kalshi KXBTCPERP	+0.0212%	8h	85,694	+0.051%	$10.2M	$770.4M	6.4x	as long as short
Deribit BTC-PERPETUALshort	+0.0224%	1h	85,692.8	+0.050%	$894.7M	$1.54B	50x
Perpl BTC	+0.0447%	43m	85,687.2	+0.043%	$513K	$20.5M	6.7x	as long as short