BTC

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0094%/8h= −10.3% APRnext payment −$0.12 per $10,000 · paid last 24h −0.019%

Price spread now: Arcus against Aftermath Perps+0.073%7-day average −0.009% · 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−$240.240% of the position

Long on Aftermath Perps Short on Arcus

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.043%−$4 on $10k

Price spread, last 4 days (all we have)−0.256%−$26 · spread now +0.073%, 7d avg −0.009%

Together, before fees−0.299%−$30 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Arcus is 0.082% dearer against Aftermath Perps than usual: you sell high and buy low (spread +0.073% now, against its 7-day average of −0.009%): +$8 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 2.9 days. At the pace of the last 3 days (−0.043% in total) that is about 6.4 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aftermath Perps BTCUSD	85,672.4	0.0194	pay 0.0024% / 1h	31m 10s	$78K	$219K	20x
Short	Arcus BTC-USD	85,735.3	0.0100	get 0.0013% / 1h	31m 10s	$7.1M	$97.2M	40x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Arcus against Aftermath Perps. 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 Aftermath PerpsbpFee ArcusbpOrdersPrice spread, now +0.073%Rate

Funding earned: −$19.8
Price spread: +0.073% → −0.009%: $8.23
Slippage, 4 orders: −$10.53
Fee Aftermath Perps: 4.5 bp × 2 orders: −$9
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Net: −$35.6
Costs to cover: 0.240%
Break-even: never at this rate

Slippage from Aftermath Perps: live order book, 33 min ago; Arcus: 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 Aftermath Perps live order book, 33 min ago	1.00 bp	9.4 bp −$9	23.1 bp −$231	doesn't fit	doesn't fit
Sell Arcus live order book, 3 min ago	0.01 bp	2.3 bp −$2	2.3 bp −$23	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
Phoenix BTC	−0.0160%	1h	85,662	−0.012%	$2.2M	$10.3M	40x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	85,739	+0.078%	$8K	$3K	50x	as long as short
01 Exchange BTCUSD	−0.0048%	1h	85,801.8	+0.151%	$370K	$2.3M	50x	as long as short
BloFin BTC-USDT	−0.0033%	8h	85,805.1	+0.155%	$417.4M	$665.5M	150x	as long as short
dYdX BTC-USD	0.0000%	1h	85,731.5	+0.069%	$16.8M	$21.0M	50x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0004% / S −0.0004%	1h	85,792.3	+0.140%	$36.7M	—	200x	as long as short
Nado BTC-PERP	+0.0009%	1h	85,800.6	+0.150%	$22.9M	$221.2M	50x	as long as short
KuCoin XBTUSDTM	+0.0011%	8h	85,770.1	+0.114%	$919.3M	$753.1M	125x	as long as short
Aster BTCUSDT	+0.0020%	8h	85,795	+0.143%	$517.0M	$1.11B	200x	as long as short
BingX BTC-USDT	+0.0054%	8h	85,787.3	+0.134%	—	$1.53B	—	as long as short

Show all 56 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget BTCUSDT	+0.0068%	8h	85,806.5	+0.157%	$2.96B	$5.03B	150x	as long as short
Reya BTCRUSDPERP	+0.0069%	1h	85,767.5	+0.111%	$6.7M	$146.4M	40x	as long as short
Bluefin BTC-PERP	+0.0069%	1h	85,828.4	+0.182%	$197K	$722K	40x	as long as short
Phemex BTCUSDT	+0.0070%	8h	85,800.7	+0.150%	$148.2M	$479.1M	150x	as long as short
HTX BTC-USDT	+0.0076%	8h	85,807.2	+0.157%	$2.27B	$936.6M	200x	as long as short
Injective BTC/USDC PERP	+0.0079%	1h	85,578	−0.110%	$340K	$26.9M	52x	as long as short
Aevo BTC-PERP	+0.0080%	1h	85,802	+0.151%	$2.5M	$1.7M	20x	as long as short
MEXC BTC_USDT	+0.0087%	8h	85,809.4	+0.160%	$5.06B	$5.62B	500x	as long as short
Binance BTCUSDT	+0.0087%	8h	85,824.3	+0.177%	$9.36B	$23.93B	150x	as long as short
SunX BTC-USDT	+0.0089%	8h	85,768.4	+0.112%	$2.9M	$6.1M	100x	as long as short
Lighter BTC	+0.0096%	1h	85,813.9	+0.165%	$170.6M	$990.4M	50x	as long as short
Lighter RH BTC	+0.0096%	1h	85,824.1	+0.177%	$24.0M	$148.3M	50x	as long as short
Popdex BTCUSDT	+0.0096%	1h	85,808	+0.158%	$8.4M	$52.0M	100x	as long as short
Paradex BTC-USD-PERP	+0.0100%	8h	85,806.4	+0.156%	$3.8M	$8.2M	50x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	85,764	+0.107%	$197K	$7.8M	50x	as long as short
Hyperliquid BTC	+0.0100%	1h	85,853	+0.211%	$3.74B	$4.98B	40x	as long as short
Pacifica BTC	+0.0100%	1h	85,780.4	+0.126%	$40.6M	$573.5M	50x	as long as short
Bybit BTCUSDT	+0.0100%	8h	85,818.4	+0.170%	$5.34B	$9.59B	150x	as long as short
OKX BTC-USDT-SWAP	+0.0100%	8h	85,822.9	+0.176%	$2.57B	$12.15B	100x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	85,758	+0.100%	$3.9M	$18.0M	25x	as long as short
Arcus BTC-USDshort	+0.0100%	1h	85,735.3	+0.073%	$7.1M	$97.2M	40x
Gate BTC_USDT	+0.0100%	8h	85,795.4	+0.144%	$5.56B	$10.50B	200x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	85,673	+0.001%	$35.5M	$172.6M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	85,622.5	−0.058%	$155.0M	$548.4M	—	as long as short
edgeX BTCUSDC	+0.0100%	4h	85,658.9	−0.016%	$279.6M	$930.8M	100x	as long as short
GRVT BTC_USDT_Perp	+0.0100%	8h	85,696.8	+0.028%	$215.2M	$166.6M	50x	as long as short
ApeX Omni BTCUSDT	+0.0100%	1h	85,618.1	−0.063%	$140.2M	$316.2M	100x	as long as short
StandX BTC-USD	+0.0100%	1h	85,683.1	+0.012%	$30.3M	$210.4M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	85,816.8	+0.169%	—	$11.8M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	85,782	+0.128%	$11.0M	$14.1M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	85,774.1	+0.119%	$189K	$3.3M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	85,787.3	+0.134%	$2.3M	$8.8M	100x	as long as short
Derive BTC-PERP	+0.0100%	1h	85,780.7	+0.126%	$30.0M	$50.9M	15x	as long as short
SoDEX BTC-USD	+0.0100%	1h	85,808	+0.158%	$60.1M	$336.2M	40x	as long as short
Bulk BTC-USD	+0.0100%	1h	85,614.4	−0.068%	$621.3M	$398.6M	40x	as long as short
Deribit BTC-PERPETUAL	+0.0100%	1h	85,846.1	+0.203%	$892.4M	$1.53B	50x	as long as short
Extended BTC-USD	+0.0104%	1h	85,774.7	+0.119%	$44.1M	$227.7M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0056%	1h	85,712.4	+0.047%	—	$105.9M	500x	as long as short
Coinbase International BTC-PERP-INTX	+0.0112%	1h	85,852.4	+0.210%	$130.7M	$5.12B	50x	as long as short
RISEx BTC/USDC	+0.0120%	1h	85,802.6	+0.152%	$8.4M	$42.3M	25x	as long as short
Kraken Futures PF_XBTUSD	+0.0138%	1h	85,836.3	+0.191%	$189.4M	$952.0M	100x	as long as short
Aftermath Perps BTCUSDlong	+0.0194%	1h	85,672.4	long leg	$78K	$219K	20x
GMX BTC/USD [WBTC.b-USDC]	L +0.0203% / S −0.0179%	1h	85,790	+0.137%	$13.6M	—	200x	as long as short
Hibachi BTC/USDT-P	+0.0208%	1h	85,730.6	+0.068%	$702K	$7.8M	30x	as long as short
Kalshi KXBTCPERP	+0.0216%	8h	85,809	+0.159%	$10.5M	$760.6M	6.4x	as long as short
Perpl BTC	+0.0447%	43m	85,811.3	+0.162%	$518K	$19.4M	6.7x	as long as short