BTC

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0348%/8h= +38.1% APRnext payment +$0.44 per $10,000 · paid last 24h −0.032%

Price spread now: SoDEX against Aftermath Perps−0.058%7-day average −0.028% · 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−$30as in the Price arb table

costs, in and out, $10k−$270.269% of the position

Long on Aftermath Perps Short on SoDEX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.060%−$6 on $10k

Price spread, last 3 days (all we have)−0.040%−$4 · spread now −0.058%, 7d avg −0.028%

Together, before fees−0.100%−$10 on $10k · with fees, hour by hour

Funding pays, the price is against you. SoDEX is 0.030% cheaper against Aftermath Perps than usual: you would sell low and buy high (spread −0.058% now, against its 7-day average of −0.028%). If the spread goes back, that is −$3 on $10k: about 7 hours of funding at the current rate (+$10 a day). Mind the row above: over the last 3 days funding on this pair cost −0.060%, so the current rate has only just turned in your favour.

The current funding rate is far above what this pair has been paying: over the last 3 days it paid -0.060% in total (about -7.1% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.44 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aftermath Perps BTCUSD	86,615.5	−0.0248	get 0.0031% / 1h	59m 34s	$81K	$193K	20x
Short	SoDEX BTC-USD	86,565	0.0100	get 0.0013% / 1h	59m 34s	$60.5M	$336.7M	40x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SoDEX 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 SoDEXbpOrdersPrice spread, now −0.058%Rate

Funding earned: $73.11
Price spread: −0.058% → −0.028%: −$3.01
Slippage, 4 orders: −$9.85
Fee Aftermath Perps: 4.5 bp × 2 orders: −$9
Fee SoDEX: 4 bp × 2 orders: −$8
Net: $43.24
Costs to cover: 0.269%
Break-even: 2.9 days

Slippage from Aftermath Perps: live order book, 25 min ago; SoDEX: 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 Aftermath Perps live order book, 25 min ago	1.77 bp	12.5 bp −$12	19.0 bp −$190	doesn't fit	doesn't fit
Sell SoDEX live order book, 5 min ago	0.06 bp	4.1 bp −$4	4.1 bp −$41	5.5 bp −$553	44.3 bp −$22.2K

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 BTCUSDlong	−0.0248%	1h	86,615.5	long leg	$81K	$193K	20x
Perpl BTC	−0.0223%	43m	86,606.5	−0.010%	$425K	$24.5M	6.7x	as long as short
Phoenix BTC	−0.0103%	1h	86,561	−0.063%	$2.2M	$12.4M	40x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	86,546	−0.080%	$9K	$3K	50x	as long as short
dYdX BTC-USD	−0.0066%	1h	86,591.4	−0.028%	$17.6M	$20.6M	50x	as long as short
Aster BTCUSDT	−0.0004%	8h	86,541.7	−0.085%	$505.3M	$1.16B	200x	as long as short
01 Exchange BTCUSD	0.0000%	1h	86,602.2	−0.015%	$360K	$2.4M	50x	as long as short
Deribit BTC-PERPETUAL	0.0000%	1h	86,599.6	−0.018%	$927.6M	$1.47B	50x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0005% / S −0.0004%	1h	86,611.2	−0.005%	$36.8M	—	200x	as long as short
KuCoin XBTUSDTM	+0.0005%	8h	86,538.1	−0.089%	$849.7M	$709.7M	125x	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	+0.0006%	1h	86,561.5	−0.062%	$8.6M	$43.2M	25x	as long as short
Reya BTCRUSDPERP	+0.0022%	1h	86,580.9	−0.040%	$6.7M	$144.6M	40x	as long as short
BingX BTC-USDC	+0.0030%	8h	86,540.4	−0.087%	—	$15.4M	—	as long as short
Phemex BTCUSDT	+0.0032%	8h	86,569.9	−0.053%	$149.6M	$472.6M	150x	as long as short
Bitget BTCUSDT	+0.0038%	8h	86,543.9	−0.083%	$2.95B	$5.09B	150x	as long as short
Popdex BTCUSDT	+0.0048%	1h	86,586	−0.034%	$8.5M	$52.3M	100x	as long as short
Injective BTC/USDC PERP	+0.0049%	1h	86,614	−0.002%	$315K	$26.8M	52x	as long as short
Aevo BTC-PERP	+0.0056%	1h	86,586.4	−0.034%	$2.4M	$1.3M	20x	as long as short
MEXC BTC_USDT	+0.0059%	8h	86,546.2	−0.080%	$5.18B	$5.59B	500x	as long as short
Binance BTCUSDT	+0.0059%	8h	86,586.2	−0.034%	$9.42B	$24.38B	150x	as long as short
Gate BTC_USDT	+0.0081%	8h	86,550.8	−0.075%	$5.85B	$10.60B	200x	as long as short
Bybit BTCUSDT	+0.0086%	8h	86,590.7	−0.029%	$5.28B	$9.74B	150x	as long as short
Lighter BTC	+0.0096%	1h	86,554.6	−0.070%	$172.0M	$995.7M	50x	as long as short
Lighter RH BTC	+0.0096%	1h	86,572.9	−0.049%	$24.1M	$151.1M	50x	as long as short
OKX BTC-USDT-SWAP	+0.0099%	8h	86,551.2	−0.074%	$2.55B	$12.73B	100x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	86,544	−0.083%	$201K	$6.8M	50x	as long as short
Paradex BTC-USD-PERP	+0.0100%	8h	86,588.4	−0.031%	$4.8M	$8.3M	50x	as long as short
Nado BTC-PERP	+0.0100%	1h	86,585.1	−0.035%	$21.7M	$235.0M	50x	as long as short
Hyperliquid BTC	+0.0100%	1h	86,620	+0.005%	$3.81B	$5.12B	40x	as long as short
Pacifica BTC	+0.0100%	1h	86,586.1	−0.034%	$41.0M	$499.4M	50x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	86,546	−0.080%	$3.9M	$18.6M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	86,621.5	+0.007%	$7.4M	$94.1M	40x	as long as short
Bulk BTC-USD	+0.0100%	1h	86,590.2	−0.029%	$572.1M	$20.3M	40x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	86,566.3	−0.057%	$38.2M	$151.5M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	86,596.1	−0.022%	$159.3M	$566.2M	—	as long as short
edgeX BTCUSDC	+0.0100%	4h	86,587.2	−0.033%	$279.6M	$942.7M	100x	as long as short
GRVT BTC_USDT_Perp	+0.0100%	8h	86,592.7	−0.026%	$217.3M	$184.7M	50x	as long as short
ApeX Omni BTCUSDT	+0.0100%	1h	86,597.4	−0.021%	$141.6M	$323.1M	100x	as long as short
StandX BTC-USD	+0.0100%	1h	86,588.3	−0.031%	$30.7M	$203.4M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	86,642.1	+0.031%	—	$11.6M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	86,600	−0.018%	$11.1M	$13.8M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	86,591	−0.028%	$190K	$3.4M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	86,598.5	−0.020%	$2.5M	$8.6M	100x	as long as short
Bluefin BTC-PERP	+0.0100%	1h	86,613	−0.003%	$140K	$619K	40x	as long as short
Derive BTC-PERP	+0.0100%	1h	86,588.9	−0.031%	$30.0M	$61.7M	15x	as long as short
SunX BTC-USDT	+0.0100%	8h	86,588.1	−0.032%	$3.4M	$5.5M	100x	as long as short
SoDEX BTC-USDshort	+0.0100%	1h	86,565	−0.058%	$60.5M	$336.7M	40x
HTX BTC-USDT	+0.0100%	8h	86,583.3	−0.037%	$2.30B	$960.5M	200x	as long as short
Extended BTC-USD	+0.0104%	1h	86,532.5	−0.096%	$46.4M	$226.7M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0048%	1h	86,623.4	+0.009%	—	$98.9M	500x	as long as short
Kraken Futures PF_XBTUSD	+0.0117%	1h	86,590.1	−0.029%	$187.0M	$934.9M	100x	as long as short
Coinbase International BTC-PERP-INTX	+0.0120%	1h	86,619.6	+0.005%	$131.9M	$5.82B	50x	as long as short
Hibachi BTC/USDT-P	+0.0160%	1h	86,622.8	+0.008%	$774K	$8.1M	30x	as long as short
Kalshi KXBTCPERP	+0.0179%	8h	86,622	+0.008%	$9.6M	$727.2M	6.4x	as long as short
BloFin BTC-USDT	+0.0179%	8h	86,596.9	−0.021%	$416.9M	$655.7M	150x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0180% / S −0.0209%	1h	86,607.1	−0.010%	$15.0M	—	200x	as long as short