Funding you earn now, next payment 22:00 UTC−0.0015%/8h= −1.6% APRnext payment −$0.02 per $10,000 · paid last 24h −0.015%
Price spread now: Injective against Aevo+0.080%59s7-day average +0.033% · you sell dearer than you buy
Net, funding: paid 7d − costs−$25as in the Funding arb table
Net, price: spread back to 7d avg − costs—prices read too far apart to compare
costs, in and out, $10k−$250.248% of the position
Funding, last 7 days+0.002%$0 on $10k
+Price spread, last 3 days (all we have)−0.101%−$10 · spread now +0.080%, 7d avg +0.033%
=The price spread pays, funding is against you. Injective is 0.047% dearer against Aevo than usual: you sell high and buy low (spread +0.080% now, against its 7-day average of +0.033%): +$5 on $10k if it goes back. Holding the pair costs $0 a day in funding at the current rate, which eats that in about 10 days. The two prices were read 59 seconds apart, so part of this spread may be the market moving, not a spread.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Aevo BTC-PERP | 86,682.4 | 0.0064 | pay 0.0008% / 1h | 11m 36s | $2.4M | $1.3M | 20x |
| Short | Injective BTC/USDC PERP | 86,752 | 0.0049 | get 0.0006% / 1h | 11m 36s | $315K | $26.8M | 52x |
Aevo BTC-PERP
Injective BTC/USDC PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Injective against Aevo. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$3.14
- Price spread: +0.080% → +0.033%
- $4.7
- Slippage, 4 orders
- −$8.8
- Fee Aevo: 8 bp × 2 orders
- −$16
- Fee Injective: 0.01 bp × 2 orders
- −$0.02
- Net
- −$23.26
- Costs to cover
- 0.248%
- Break-even
- never at this rate
Slippage from Aevo: live order book, 3 min ago; Injective: 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 Aevo live order book, 3 min ago | 0.71 bp | 9.7 bp −$10 | 11.7 bp −$117 | 15.0 bp −$1,501 | doesn't fit |
| Sell Injective live order book, 3 min ago | 1.96 bp | 2.7 bp −$3 | 10.6 bp −$106 | 629.7 bp −$63.0K | 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 | |
|---|---|---|---|---|---|---|---|---|
| Aftermath Perps BTCUSD | −0.0245% | 1h | 86,738.5 | +0.065% | $85K | $188K | 20x | as long as short |
| Perpl BTC | −0.0223% | 43m | 86,697 | +0.017% | $425K | $24.6M | 6.7x | as long as short |
| Phoenix BTC | −0.0103% | 1h | 86,739 | +0.065% | $2.2M | $12.4M | 40x | as long as short |
| Hotstuff BTC-PERP | −0.0080% | 1h | 86,680 | −0.003% | $9K | $3K | 50x | as long as short |
| dYdX BTC-USD | −0.0062% | 1h | 86,692.6 | +0.012% | $17.6M | $20.6M | 50x | as long as short |
| 01 Exchange BTCUSD | 0.0000% | 1h | 86,704.4 | +0.025% | $362K | $2.4M | 50x | as long as short |
| Deribit BTC-PERPETUAL | 0.0000% | 1h | 86,724.8 | +0.049% | $929.4M | $1.47B | 50x | as long as short |
| Aster BTCUSDT | +0.0004% | 8h | 86,666.5 | −0.018% | $506.0M | $1.16B | 200x | as long as short |
| gTrade (Gains Network) BTC/USD | L +0.0005% / S −0.0004% | 1h | 86,709.1 | +0.031% | $36.9M | — | 200x | as long as short |
| KuCoin XBTUSDTM | +0.0006% | 8h | 86,676.5 | −0.007% | $851.3M | $707.8M | 125x | as long as short |
Aftermath Perps BTCUSD
Perpl BTC
Phoenix BTC
Hotstuff BTC-PERP
dYdX BTC-USD
01 Exchange BTCUSD
Deribit BTC-PERPETUAL
Aster BTCUSDT
gTrade (Gains Network) BTC/USD
KuCoin XBTUSDTMShow all 56 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Reya BTCRUSDPERP | +0.0022% | 1h | 86,681.6 | −0.001% | $6.7M | $144.4M | 40x | as long as short |
| BingX BTC-USDC | +0.0028% | 8h | 86,672.1 | −0.012% | — | $15.3M | — | as long as short |
| Phemex BTCUSDT | +0.0028% | 8h | 86,682.5 | 0.000% | $150.2M | $472.1M | 150x | as long as short |
| Bitget BTCUSDT | +0.0036% | 8h | 86,682.2 | 0.000% | $2.96B | $5.09B | 150x | as long as short |
| Injective BTC/USDC PERPshort | +0.0049% | 1h | 86,752 | +0.080% | $315K | $26.8M | 52x | |
| Binance BTCUSDT | +0.0060% | 8h | 86,682.3 | 0.000% | $9.43B | $24.37B | 150x | as long as short |
| MEXC BTC_USDT | +0.0060% | 8h | 86,682.3 | 0.000% | $5.19B | $5.71B | 500x | as long as short |
| RISEx BTC/USDC | +0.0063% | 1h | 86,700 | +0.020% | $9.3M | $41.9M | 25x | as long as short |
| Aevo BTC-PERPlong | +0.0064% | 1h | 86,682.4 | long leg | $2.4M | $1.3M | 20x | |
| Gate BTC_USDT | +0.0082% | 8h | 86,678.6 | −0.004% | $5.85B | $10.69B | 200x | as long as short |
| Bybit BTCUSDT | +0.0084% | 8h | 86,681.1 | −0.001% | $5.28B | $9.72B | 150x | as long as short |
| OKX BTC-USDT-SWAP | +0.0091% | 8h | 86,687.4 | +0.006% | $2.56B | $12.74B | 100x | as long as short |
| Lighter BTC | +0.0096% | 1h | 86,693.5 | +0.013% | $172.0M | $1.02B | 50x | as long as short |
| Lighter RH BTC | +0.0096% | 1h | 86,701.6 | +0.022% | $24.1M | $154.2M | 50x | as long as short |
| Popdex BTCUSDT | +0.0096% | 1h | 86,683 | +0.001% | $8.5M | $52.3M | 100x | as long as short |
| Katana Perps BTC-USD | +0.0100% | 8h | 86,672 | −0.012% | $201K | $6.8M | 50x | as long as short |
| Paradex BTC-USD-PERP | +0.0100% | 8h | 86,739 | +0.065% | $4.8M | $8.2M | 50x | as long as short |
| Nado BTC-PERP | +0.0100% | 1h | 86,670.7 | −0.014% | $21.7M | $235.4M | 50x | as long as short |
| Hyperliquid BTC | +0.0100% | 1h | 86,759 | +0.088% | $3.82B | $5.12B | 40x | as long as short |
| Pacifica BTC | +0.0100% | 1h | 86,719.3 | +0.043% | $41.0M | $494.9M | 50x | as long as short |
| Ondo Perps BTC-USD.P | +0.0100% | 1h | 86,680 | −0.003% | $3.9M | $18.6M | 25x | as long as short |
| Arcus BTC-USD | +0.0100% | 1h | 86,754.2 | +0.083% | $7.4M | $94.8M | 40x | as long as short |
| Bulk BTC-USD | +0.0100% | 1h | 86,682.4 | 0.000% | $572.6M | $21.1M | 40x | as long as short |
| Backpack BTC_USDC_PERP | +0.0100% | 1h | 86,687.5 | +0.006% | $38.2M | $149.8M | 75x | as long as short |
| Variational Omni BTC | +0.0100% | 8h | 86,796.1 | +0.131% | $159.7M | $566.8M | — | as long as short |
| edgeX BTCUSDC | +0.0100% | 4h | 86,761.4 | +0.091% | $280.3M | $953.0M | 100x | as long as short |
| GRVT BTC_USDT_Perp | +0.0100% | 8h | 86,797.1 | +0.132% | $218.0M | $187.7M | 50x | as long as short |
| ApeX Omni BTCUSDT | +0.0100% | 1h | 86,754.9 | +0.084% | $141.6M | $322.7M | 100x | as long as short |
| StandX BTC-USD | +0.0100% | 1h | 86,730.5 | +0.056% | $30.8M | $203.8M | 40x | as long as short |
| Vest BTC-PERP | +0.0100% | 1h | 86,744.4 | +0.072% | — | $11.6M | 50x | as long as short |
| Polymarket Perps BTC-USD | +0.0100% | 1h | 86,684 | +0.002% | $11.1M | $13.7M | 50x | as long as short |
| Bullet BTC-USD | +0.0100% | 1h | 86,686 | +0.004% | $196K | $3.4M | 20x | as long as short |
| Orderly PERP_BTC_USDC | +0.0100% | 8h | 86,697.9 | +0.018% | $2.4M | $8.6M | 100x | as long as short |
| Bluefin BTC-PERP | +0.0100% | 1h | 86,707.2 | +0.029% | $141K | $619K | 40x | as long as short |
| Derive BTC-PERP | +0.0100% | 1h | 86,696.2 | +0.016% | $30.0M | $61.8M | 15x | as long as short |
| SunX BTC-USDT | +0.0100% | 8h | 86,686.9 | +0.005% | $3.4M | $5.5M | 100x | as long as short |
| SoDEX BTC-USD | +0.0100% | 1h | 86,682 | 0.000% | $60.6M | $336.6M | 40x | as long as short |
| HTX BTC-USDT | +0.0100% | 8h | 86,670.8 | −0.013% | $2.30B | $959.5M | 200x | as long as short |
| Extended BTC-USD | +0.0104% | 1h | 86,673.4 | −0.010% | $46.4M | $226.7M | 50x | as long as short |
| Jupiter Perps WBTC-PERP | L +0.0104% / S +0.0048% | 1h | 86,733.8 | +0.059% | — | $98.8M | 500x | as long as short |
| Kraken Futures PF_XBTUSD | +0.0116% | 1h | 86,721.8 | +0.046% | $188.0M | $934.0M | 100x | as long as short |
| Coinbase International BTC-PERP-INTX | +0.0120% | 1h | 86,738.2 | +0.064% | $131.8M | $5.84B | 50x | as long as short |
| Kalshi KXBTCPERP | +0.0163% | 8h | 86,729 | +0.054% | $9.6M | $727.6M | 6.4x | as long as short |
| GMX BTC/USD [WBTC.b-USDC] | L +0.0180% / S −0.0209% | 1h | 86,705.5 | +0.027% | $15.0M | — | 200x | as long as short |
| BloFin BTC-USDT | +0.0181% | 8h | 86,700 | +0.020% | $416.5M | $655.6M | 150x | as long as short |
| Hibachi BTC/USDT-P | +0.0200% | 1h | 86,738.7 | +0.065% | $781K | $7.8M | 30x | as long as short |
Reya BTCRUSDPERP
BingX BTC-USDC
Phemex BTCUSDT
Bitget BTCUSDT
Binance BTCUSDT
MEXC BTC_USDT
RISEx BTC/USDC
Gate BTC_USDT
Bybit BTCUSDT
OKX BTC-USDT-SWAP
Lighter BTC
Lighter RH BTC
Popdex BTCUSDT
Katana Perps BTC-USD
Paradex BTC-USD-PERP
Nado BTC-PERP
Hyperliquid BTC
Pacifica BTC
Ondo Perps BTC-USD.P
Arcus BTC-USD
Bulk BTC-USD
Backpack BTC_USDC_PERP
Variational Omni BTC
edgeX BTCUSDC
GRVT BTC_USDT_Perp
ApeX Omni BTCUSDT
StandX BTC-USD
Vest BTC-PERP
Polymarket Perps BTC-USD
Bullet BTC-USD
Orderly PERP_BTC_USDC
Bluefin BTC-PERP
Derive BTC-PERP
SunX BTC-USDT
SoDEX BTC-USD
HTX BTC-USDT
Extended BTC-USD
Jupiter Perps WBTC-PERP
Kraken Futures PF_XBTUSD
Coinbase International BTC-PERP-INTX
Kalshi KXBTCPERP
GMX BTC/USD [WBTC.b-USDC]
BloFin BTC-USDT
Hibachi BTC/USDT-P