BTC

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0164%/8h= +18.0% APRnext payment +$0.21 per $10,000 · paid last 24h +0.030%

Price spread now: Bulk against 01 Exchange+0.009%7-day average +0.005% · 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−$160.164% of the position

Long on 01 Exchange Short on Bulk

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.096%+$10 on $10k

Price spread, last 7 days−0.024%−$2 · spread now +0.009%, 7d avg +0.005%

Together, before fees+0.072%+$7 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.005%, so right now this pair is about funding alone: +$5 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	01 Exchange BTCUSD	85,585.7	−0.0064	get 0.0008% / 1h	59m 39s	$361K	$2.3M	50x
Short	Bulk BTC-USD	85,593.2	0.0100	get 0.0013% / 1h	59m 39s	$605.0M	$283.5M	40x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bulk against 01 Exchange. 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 01 ExchangebpFee BulkbpOrdersPrice spread, now +0.009%Rate

Funding earned: $34.44
Price spread: +0.009% → +0.005%: $0.4
Slippage, 4 orders: −$2.44
Fee 01 Exchange: 3.5 bp × 2 orders: −$7
Fee Bulk: 3.5 bp × 2 orders: −$7
Net: $18.4
Costs to cover: 0.164%
Break-even: 3.3 days

Slippage from 01 Exchange: live order book, 5 min ago; Bulk: live order book, 5 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 01 Exchange live order book, 5 min ago	0.01 bp	5.0 bp −$5	9.3 bp −$93	doesn't fit	doesn't fit
Sell Bulk live order book, 5 min ago	0.01 bp	3.5 bp −$4	3.5 bp −$35	3.5 bp −$351	4.7 bp −$2,349

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	85,616	+0.035%	$2.1M	$10.5M	40x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	85,608	+0.026%	$8K	$3K	50x	as long as short
01 Exchange BTCUSDlong	−0.0064%	1h	85,585.7	long leg	$361K	$2.3M	50x
dYdX BTC-USD	+0.0001%	1h	85,585.5	0.000%	$16.7M	$21.0M	50x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0004% / S −0.0004%	1h	85,526	−0.070%	$36.6M	—	200x	as long as short
Injective BTC/USDC PERP	+0.0020%	1h	85,661	+0.088%	$340K	$26.9M	52x	as long as short
Aster BTCUSDT	+0.0021%	8h	85,586.7	+0.001%	$515.9M	$1.12B	200x	as long as short
KuCoin XBTUSDTM	+0.0023%	8h	85,566.8	−0.022%	$902.0M	$748.3M	125x	as long as short
Nado BTC-PERP	+0.0031%	1h	85,534.9	−0.059%	$22.6M	$224.9M	50x	as long as short
BingX BTC-USDC	+0.0055%	8h	85,583.2	−0.003%	—	$17.0M	—	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX BTC-USDT	+0.0056%	8h	85,507.8	−0.091%	$2.27B	$932.8M	200x	as long as short
Reya BTCRUSDPERP	+0.0062%	1h	85,504.5	−0.095%	$6.7M	$146.4M	40x	as long as short
Bitget BTCUSDT	+0.0068%	8h	85,588.9	+0.004%	$2.94B	$5.02B	150x	as long as short
SunX BTC-USDT	+0.0077%	8h	85,507.9	−0.091%	$2.9M	$6.5M	100x	as long as short
Aevo BTC-PERP	+0.0080%	1h	85,507.4	−0.092%	$2.5M	$1.7M	20x	as long as short
Binance BTCUSDT	+0.0085%	8h	85,589.9	+0.005%	$9.34B	$23.93B	150x	as long as short
MEXC BTC_USDT	+0.0086%	8h	85,593.7	+0.009%	$5.07B	$5.56B	500x	as long as short
Lighter BTC	+0.0096%	1h	85,596	+0.012%	$170.3M	$980.1M	50x	as long as short
Lighter RH BTC	+0.0096%	1h	85,593.6	+0.009%	$23.9M	$149.0M	50x	as long as short
Popdex BTCUSDT	+0.0096%	1h	85,527	−0.069%	$8.4M	$51.6M	100x	as long as short
Paradex BTC-USD-PERP	+0.0099%	8h	85,635	+0.058%	$3.8M	$8.3M	50x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	85,564	−0.025%	$203K	$7.6M	50x	as long as short
Hyperliquid BTC	+0.0100%	1h	85,648	+0.073%	$3.76B	$4.92B	40x	as long as short
Pacifica BTC	+0.0100%	1h	85,626.6	+0.048%	$40.1M	$571.6M	50x	as long as short
Bybit BTCUSDT	+0.0100%	8h	85,599.9	+0.017%	$5.33B	$9.61B	150x	as long as short
OKX BTC-USDT-SWAP	+0.0100%	8h	85,599.9	+0.017%	$2.56B	$12.13B	100x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	85,530	−0.065%	$3.9M	$17.9M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	85,561.5	−0.028%	$7.1M	$96.4M	40x	as long as short
Gate BTC_USDT	+0.0100%	8h	85,595.5	+0.011%	$5.58B	$10.37B	200x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	85,506.8	−0.092%	$35.0M	$168.1M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	85,545	−0.048%	$154.0M	$554.0M	—	as long as short
edgeX BTCUSDC	+0.0100%	4h	85,613.3	+0.032%	$278.5M	$939.4M	100x	as long as short
GRVT BTC_USDT_Perp	+0.0100%	8h	85,624	+0.045%	$214.9M	$162.9M	50x	as long as short
ApeX Omni BTCUSDT	+0.0100%	1h	85,624.5	+0.045%	$140.0M	$316.3M	100x	as long as short
StandX BTC-USD	+0.0100%	1h	85,623.8	+0.044%	$30.3M	$210.8M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	85,588	+0.003%	—	$11.8M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	85,521	−0.076%	$11.0M	$14.1M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	85,517.3	−0.080%	$187K	$3.3M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	85,517.8	−0.079%	$2.4M	$8.9M	100x	as long as short
Bluefin BTC-PERP	+0.0100%	1h	85,554.9	−0.036%	$197K	$722K	40x	as long as short
Derive BTC-PERP	+0.0100%	1h	85,513.6	−0.084%	$30.0M	$52.7M	15x	as long as short
SoDEX BTC-USD	+0.0100%	1h	85,511	−0.087%	$59.9M	$336.4M	40x	as long as short
Phemex BTCUSDT	+0.0100%	8h	85,513.7	−0.084%	$150.0M	$479.6M	150x	as long as short
Bulk BTC-USDshort	+0.0100%	1h	85,593.2	+0.009%	$605.0M	$283.5M	40x
Extended BTC-USD	+0.0104%	1h	85,569.6	−0.019%	$44.1M	$227.7M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0056%	1h	85,569.3	−0.019%	—	$101.7M	500x	as long as short
Coinbase International BTC-PERP-INTX	+0.0112%	1h	85,549.1	−0.043%	$130.4M	$5.07B	50x	as long as short
RISEx BTC/USDC	+0.0120%	1h	85,613.7	+0.033%	$8.4M	$42.2M	25x	as long as short
Kraken Futures PF_XBTUSD	+0.0146%	1h	85,535.4	−0.059%	$186.9M	$951.9M	100x	as long as short
Aftermath Perps BTCUSD	+0.0184%	1h	85,607.4	+0.025%	$78K	$219K	20x	as long as short
Hibachi BTC/USDT-P	+0.0184%	1h	85,631.9	+0.054%	$682K	$7.8M	30x	as long as short
Deribit BTC-PERPETUAL	+0.0201%	1h	85,564.2	−0.025%	$894.9M	$1.52B	50x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0203% / S −0.0186%	1h	85,522.8	−0.073%	$13.5M	—	200x	as long as short
Kalshi KXBTCPERP	+0.0212%	8h	85,560	−0.030%	$10.2M	$765.0M	6.4x	as long as short
Perpl BTC	+0.0447%	43m	85,574.3	−0.013%	$511K	$19.9M	6.7x	as long as short