BTC

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0020%/8h= +2.2% APRnext payment +$0.03 per $10,000 · paid last 24h +0.009%

Price spread now: Coinbase International against Vest−0.075%7-day average +0.030% · you buy dearer than you sell

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

Long on Vest Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.050%+$5 on $10k

Price spread, last 3 days (all we have)+0.134%+$13 · spread now −0.075%, 7d avg +0.030%

Together, before fees+0.184%+ Points / potential airdropVest: Active · farm board+$18 on $10k · with fees, hour by hour

Funding pays, the price is against you. Coinbase International is 0.105% cheaper against Vest than usual: you would sell low and buy high (spread −0.075% now, against its 7-day average of +0.030%). If the spread goes back, that is −$11 on $10k: about 18 days of funding at the current rate (+$1 a day). At the pace of the last 3 days (+0.050% in total) that is about 6.8 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Vest BTC-PERP	86,148.9	0.0100	pay 0.0013% / 1h	4m 16s	—	$11.8M	50x
Short	Coinbase International BTC-PERP-INTX	86,084.4	0.0120	get 0.0015% / 1h	4m 16s	$132.2M	$5.27B	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against Vest. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 VestbpFee Coinbase InternationalbpOrdersPrice spread, now −0.075%Rate

Funding earned: $4.2
Price spread: −0.075% → +0.030%: −$10.52
Slippage, 4 orders: no order book: not counted
Fee Vest: 1 bp × 2 orders: −$2
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$18.32
Costs to cover: 0.120%
Break-even: 37.5 days

Slippage unknown: Vest: no order-book sample; Coinbase International: live order book, 5 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 Vest no order-book sample	—	—	—	—	—
Sell Coinbase International live order book, 5 min ago	0.01 bp	5.0 bp −$5	5.0 bp −$50	6.5 bp −$653	16.0 bp −$8,002

Vest: 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
Phoenix BTC	−0.0129%	1h	86,215	+0.077%	$2.2M	$11.2M	40x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	86,129	−0.023%	$9K	$3K	50x	as long as short
01 Exchange BTCUSD	−0.0048%	1h	86,111.1	−0.044%	$363K	$2.3M	50x	as long as short
Perpl BTC	0.0000%	43m	86,144.7	−0.005%	$518K	$21.2M	6.7x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0004% / S −0.0004%	1h	86,126.9	−0.026%	$36.8M	—	200x	as long as short
Injective BTC/USDC PERP	+0.0023%	1h	86,365	+0.251%	$343K	$26.9M	52x	as long as short
dYdX BTC-USD	+0.0023%	1h	86,108.9	−0.046%	$16.9M	$20.5M	50x	as long as short
Aster BTCUSDT	+0.0031%	8h	86,102.2	−0.054%	$499.2M	$1.13B	200x	as long as short
KuCoin XBTUSDTM	+0.0044%	8h	86,107.6	−0.048%	$827.6M	$715.8M	125x	as long as short
Reya BTCRUSDPERP	+0.0050%	1h	86,101.2	−0.055%	$6.7M	$145.8M	40x	as long as short

Show all 56 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
RISEx BTC/USDC	+0.0052%	1h	86,122.8	−0.030%	$8.2M	$42.4M	25x	as long as short
BingX BTC-USDT	+0.0053%	8h	86,114	−0.040%	—	$1.57B	—	as long as short
HTX BTC-USDT	+0.0056%	8h	86,045.8	−0.120%	$2.28B	$959.1M	200x	as long as short
Bitget BTCUSDT	+0.0066%	8h	86,071.3	−0.090%	$2.96B	$5.06B	150x	as long as short
Phemex BTCUSDT	+0.0066%	8h	86,057.3	−0.106%	$155.2M	$473.2M	150x	as long as short
SoDEX BTC-USD	+0.0069%	1h	86,066	−0.096%	$60.3M	$338.3M	40x	as long as short
Aevo BTC-PERP	+0.0080%	1h	86,069.6	−0.092%	$2.5M	$1.8M	20x	as long as short
Binance BTCUSDT	+0.0083%	8h	86,054.3	−0.110%	$9.36B	$24.27B	150x	as long as short
MEXC BTC_USDT	+0.0083%	8h	86,105.4	−0.050%	$5.11B	$5.77B	500x	as long as short
Bluefin BTC-PERP	+0.0087%	1h	86,118	−0.036%	$144K	$666K	40x	as long as short
Gate BTC_USDT	+0.0095%	8h	86,112.2	−0.043%	$5.77B	$10.68B	200x	as long as short
Lighter BTC	+0.0096%	1h	86,076.1	−0.084%	$170.0M	$997.4M	50x	as long as short
Lighter RH BTC	+0.0096%	1h	86,057.6	−0.106%	$23.5M	$152.4M	50x	as long as short
Popdex BTCUSDT	+0.0096%	1h	86,113	−0.042%	$8.4M	$52.0M	100x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	86,091	−0.067%	$201K	$7.3M	50x	as long as short
Paradex BTC-USD-PERP	+0.0100%	8h	86,165	+0.019%	$4.2M	$8.5M	50x	as long as short
Nado BTC-PERP	+0.0100%	1h	86,113.4	−0.041%	$21.8M	$225.5M	50x	as long as short
Hyperliquid BTC	+0.0100%	1h	86,179	+0.035%	$3.77B	$4.97B	40x	as long as short
Pacifica BTC	+0.0100%	1h	86,156.6	+0.009%	$40.8M	$560.8M	50x	as long as short
Bybit BTCUSDT	+0.0100%	8h	86,021.2	−0.148%	$5.24B	$9.66B	150x	as long as short
OKX BTC-USDT-SWAP	+0.0100%	8h	86,029.9	−0.138%	$2.56B	$12.40B	100x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	86,120	−0.034%	$3.9M	$17.9M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	86,134.1	−0.017%	$7.3M	$95.2M	40x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	86,059.9	−0.103%	$35.4M	$161.8M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	86,079.3	−0.081%	$156.4M	$555.5M	—	as long as short
edgeX BTCUSDC	+0.0100%	4h	86,114.1	−0.040%	$278.1M	$940.2M	100x	as long as short
GRVT BTC_USDT_Perp	+0.0100%	8h	86,175.4	+0.031%	$216.3M	$165.4M	50x	as long as short
ApeX Omni BTCUSDT	+0.0100%	1h	86,194.2	+0.053%	$141.1M	$320.0M	100x	as long as short
StandX BTC-USD	+0.0100%	1h	86,069.2	−0.093%	$30.5M	$206.6M	40x	as long as short
Vest BTC-PERPlong	+0.0100%	1h	86,148.9	long leg	—	$11.8M	50x
Polymarket Perps BTC-USD	+0.0100%	1h	86,112	−0.043%	$11.0M	$14.1M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	86,116.5	−0.038%	$189K	$3.3M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	86,080.1	−0.080%	$2.4M	$9.1M	100x	as long as short
Derive BTC-PERP	+0.0100%	1h	86,088.5	−0.070%	$30.2M	$57.0M	15x	as long as short
SunX BTC-USDT	+0.0100%	8h	86,047.1	−0.118%	$3.3M	$5.4M	100x	as long as short
Bulk BTC-USD	+0.0100%	1h	86,141.5	−0.009%	$581.0M	$76.4M	40x	as long as short
Extended BTC-USD	+0.0104%	1h	86,046	−0.119%	$46.0M	$222.5M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0048%	1h	86,080.4	−0.079%	—	$99.2M	500x	as long as short
Coinbase International BTC-PERP-INTXshort	+0.0120%	1h	86,084.4	−0.075%	$132.2M	$5.27B	50x
Kraken Futures PF_XBTUSD	+0.0122%	1h	86,090	−0.068%	$190.1M	$954.0M	100x	as long as short
Hibachi BTC/USDT-P	+0.0128%	1h	86,108.8	−0.047%	$724K	$8.0M	30x	as long as short
Aftermath Perps BTCUSD	+0.0169%	1h	86,174.5	+0.030%	$77K	$217K	20x	as long as short
Deribit BTC-PERPETUAL	+0.0182%	1h	86,111.8	−0.043%	$902.8M	$1.51B	50x	as long as short
BloFin BTC-USDT	+0.0203%	8h	86,079.9	−0.080%	$415.6M	$640.3M	150x	as long as short
Kalshi KXBTCPERP	+0.0205%	8h	86,114	−0.040%	$10.2M	$766.1M	6.4x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0207% / S −0.0222%	1h	86,121.5	−0.032%	$14.5M	—	200x	as long as short