BTC

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0055%/8h= −6.0% APRnext payment −$0.07 per $10,000 · paid last 24h −0.012%

Price spread now: Kraken Futures against Aftermath Perps−0.079%7-day average −0.006% · you buy dearer than you sell

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

Net, price: spread back to 7d avg − costs−$38as in the Price arb table

costs, in and out, $10k−$300.304% of the position

Long on Aftermath Perps Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.072%−$7 on $10k

Price spread, last 4 days (all we have)+0.004%$0 · spread now −0.079%, 7d avg −0.006%

Together, before fees−0.068%−$7 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Kraken Futures is 0.073% cheaper against Aftermath Perps than usual: you would sell low and buy high (−$7 if the spread goes back to its 7-day average of −0.006%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aftermath Perps BTCUSD	85,532.2	0.0225	pay 0.0028% / 1h	18m 34s	$78K	$219K	20x
Short	Kraken Futures PF_XBTUSD	85,464.2	0.0170	get 0.0021% / 1h	18m 34s	$187.5M	$955.3M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures 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 Kraken FuturesbpOrdersPrice spread, now −0.079%Rate

Funding earned: −$11.5
Price spread: −0.079% → −0.006%: −$7.34
Slippage, 4 orders: −$11.36
Fee Aftermath Perps: 4.5 bp × 2 orders: −$9
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$49.19
Costs to cover: 0.304%
Break-even: never at this rate

Slippage from Aftermath Perps: live order book, 41 min ago; Kraken Futures: live order book, 6 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, 41 min ago	1.00 bp	10.1 bp −$10	14.6 bp −$146	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 6 min ago	0.06 bp	5.2 bp −$5	5.9 bp −$59	7.2 bp −$719	8.6 bp −$4,287

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	−0.0179%	1h	85,530	−0.003%	$2.1M	$10.3M	40x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	85,411	−0.142%	$8K	$3K	50x	as long as short
01 Exchange BTCUSD	−0.0056%	1h	85,401.2	−0.153%	$364K	$2.3M	50x	as long as short
KuCoin XBTUSDTM	−0.0023%	8h	85,383.9	−0.173%	$918.2M	$751.9M	125x	as long as short
BloFin BTC-USDT	−0.0022%	8h	85,447.7	−0.099%	$416.2M	$667.6M	150x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0005% / S −0.0004%	1h	85,469.4	−0.073%	$36.5M	—	200x	as long as short
Aster BTCUSDT	+0.0011%	8h	85,388.9	−0.168%	$514.8M	$1.10B	200x	as long as short
dYdX BTC-USD	+0.0013%	1h	85,408.8	−0.144%	$16.7M	$21.2M	50x	as long as short
Nado BTC-PERP	+0.0018%	1h	85,445.6	−0.101%	$25.3M	$222.3M	50x	as long as short
Arcus BTC-USD	+0.0021%	1h	85,397.3	−0.158%	$4.4M	$98.1M	40x	as long as short

Show all 56 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX BTC-USDT	+0.0062%	8h	85,414	−0.138%	—	$1.54B	—	as long as short
Phemex BTCUSDT	+0.0075%	8h	85,440	−0.108%	$147.5M	$488.2M	150x	as long as short
Bitget BTCUSDT	+0.0078%	8h	85,406.7	−0.147%	$2.94B	$5.07B	150x	as long as short
Reya BTCRUSDPERP	+0.0083%	1h	85,449.9	−0.096%	$6.7M	$146.8M	40x	as long as short
Lighter BTC	+0.0096%	1h	85,409.4	−0.144%	$172.3M	$1.01B	50x	as long as short
Lighter RH BTC	+0.0096%	1h	85,408.9	−0.144%	$23.8M	$149.2M	50x	as long as short
Popdex BTCUSDT	+0.0096%	1h	85,405	−0.149%	$8.6M	$53.2M	100x	as long as short
Aevo BTC-PERP	+0.0096%	1h	85,444.7	−0.102%	$2.4M	$1.7M	20x	as long as short
MEXC BTC_USDT	+0.0097%	8h	85,401.2	−0.153%	$5.06B	$5.65B	500x	as long as short
Binance BTCUSDT	+0.0098%	8h	85,400.9	−0.153%	$9.35B	$24.16B	150x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	85,378	−0.180%	$211K	$8.1M	50x	as long as short
Paradex BTC-USD-PERP	+0.0100%	8h	85,486.7	−0.053%	$4.9M	$9.0M	50x	as long as short
Hyperliquid BTC	+0.0100%	1h	85,479	−0.062%	$3.74B	$4.98B	40x	as long as short
Pacifica BTC	+0.0100%	1h	85,432.7	−0.116%	$40.1M	$579.3M	50x	as long as short
Bybit BTCUSDT	+0.0100%	8h	85,396.4	−0.159%	$5.20B	$9.80B	150x	as long as short
OKX BTC-USDT-SWAP	+0.0100%	8h	85,409	−0.144%	$2.58B	$12.13B	100x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	85,389	−0.167%	$3.9M	$18.2M	25x	as long as short
Bulk BTC-USD	+0.0100%	1h	85,516	−0.019%	$659.1M	$647.8M	40x	as long as short
Gate BTC_USDT	+0.0100%	8h	85,414.8	−0.137%	$5.50B	$10.74B	200x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	85,427	−0.123%	$35.7M	$176.6M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	85,443.5	−0.104%	$153.4M	$565.7M	—	as long as short
edgeX BTCUSDC	+0.0100%	4h	85,504	−0.033%	$279.3M	$921.6M	100x	as long as short
GRVT BTC_USDT_Perp	+0.0100%	8h	85,513.1	−0.022%	$214.6M	$168.8M	50x	as long as short
ApeX Omni BTCUSDT	+0.0100%	1h	85,457.2	−0.088%	$139.7M	$314.5M	100x	as long as short
StandX BTC-USD	+0.0100%	1h	85,489.4	−0.050%	$30.2M	$208.2M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	85,514.5	−0.021%	—	$11.8M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	85,450	−0.096%	$11.0M	$14.2M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	85,457	−0.088%	$190K	$3.3M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	85,448.5	−0.098%	$2.4M	$8.9M	100x	as long as short
Bluefin BTC-PERP	+0.0100%	1h	85,495.3	−0.043%	$207K	$738K	40x	as long as short
Derive BTC-PERP	+0.0100%	1h	85,442.4	−0.105%	$29.9M	$50.3M	15x	as long as short
SunX BTC-USDT	+0.0100%	8h	85,441.4	−0.106%	$2.9M	$6.1M	100x	as long as short
SoDEX BTC-USD	+0.0100%	1h	85,448	−0.098%	$59.9M	$336.2M	40x	as long as short
HTX BTC-USDT	+0.0100%	8h	85,450	−0.096%	$2.26B	$942.8M	200x	as long as short
Extended BTC-USD	+0.0104%	1h	85,390.2	−0.166%	$44.6M	$230.9M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0048%	1h	85,468.6	−0.074%	—	$107.5M	500x	as long as short
Coinbase International BTC-PERP-INTX	+0.0104%	1h	85,481.6	−0.059%	$117.2M	$5.19B	50x	as long as short
Deribit BTC-PERPETUAL	+0.0149%	1h	85,493.3	−0.045%	$891.3M	$1.58B	50x	as long as short
Injective BTC/USDC PERP	+0.0150%	1h	85,475	−0.067%	$339K	$26.9M	52x	as long as short
Kraken Futures PF_XBTUSDshort	+0.0170%	1h	85,464.2	−0.079%	$187.5M	$955.3M	100x
RISEx BTC/USDC	+0.0194%	1h	85,422.8	−0.128%	$8.2M	$42.5M	25x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0202% / S −0.0177%	1h	85,465.4	−0.078%	$13.4M	—	200x	as long as short
Hibachi BTC/USDT-P	+0.0216%	1h	85,497.8	−0.040%	$703K	$7.9M	30x	as long as short
Kalshi KXBTCPERP	+0.0218%	8h	85,480	−0.061%	$10.3M	$756.2M	6.4x	as long as short
Aftermath Perps BTCUSDlong	+0.0225%	1h	85,532.2	long leg	$78K	$219K	20x
Perpl BTC	+0.0447%	43m	85,462.2	−0.082%	$497K	$18.8M	6.7x	as long as short