Funding you earn now, next payment 03:00 UTC+0.0083%/8h= +9.1% APRnext payment +$0.10 per $10,000 · paid last 24h +0.021%
Price spread now: Coinbase International against Arcus+0.099%7-day average +0.025% · 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−$8as in the Price arb table
costs, in and out, $10k−$150.150% of the position
Funding, last 4 days (all we have)+0.022%+$2 on $10k
+Price spread, last 4 days (all we have)−0.148%−$15 · spread now +0.099%, 7d avg +0.025%
=Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and Coinbase International is 0.073% dearer against Arcus than usual: you sell high and buy low: +$7 more if the spread goes back to its 7-day average of +0.025%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Arcus BTC-USD | 85,475.5 | 0.0021 | pay 0.0003% / 1h | 24m 03s | $4.9M | $97.9M | 40x |
| Short | Coinbase International BTC-PERP-INTX | 85,559.8 | 0.0104 | get 0.0013% / 1h | 24m 03s | $117.0M | $5.19B | 50x |
Arcus BTC-USD
Coinbase International BTC-PERP-INTXFunding history
latest
Range statsloading…
Price spread between the two exchanges
Coinbase International against Arcus. 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
- $17.46
- Price spread: +0.099% → +0.025%
- $7.32
- Slippage, 4 orders
- −$0.47
- Fee Arcus: 2.25 bp × 2 orders
- −$4.5
- Fee Coinbase International: 5 bp × 2 orders
- −$10
- Net
- $9.81
- Costs to cover
- 0.150%
- Break-even
- 3.1 days
Slippage from Arcus: live order book, 5 min ago; Coinbase International: 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 Arcus live order book, 5 min ago | 0.01 bp | 2.7 bp −$3 | 2.8 bp −$28 | 3.2 bp −$324 | doesn't fit |
| Sell Coinbase International live order book, 5 min ago | 0.01 bp | 5.0 bp −$5 | 5.0 bp −$50 | 5.6 bp −$564 | 12.2 bp −$6,092 |
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 | 85,485 | +0.011% | $2.1M | $10.3M | 40x | as long as short |
| Hotstuff BTC-PERP | −0.0080% | 1h | 85,534 | +0.068% | $8K | $3K | 50x | as long as short |
| 01 Exchange BTCUSD | −0.0056% | 1h | 85,498.6 | +0.027% | $365K | $2.3M | 50x | as long as short |
| BloFin BTC-USDT | −0.0024% | 8h | 85,505.5 | +0.035% | $417.1M | $667.7M | 150x | as long as short |
| KuCoin XBTUSDTM | −0.0019% | 8h | 85,499.7 | +0.028% | $920.9M | $751.0M | 125x | as long as short |
| gTrade (Gains Network) BTC/USD | L +0.0005% / S −0.0004% | 1h | 85,526.7 | +0.060% | $36.5M | — | 200x | as long as short |
| Aster BTCUSDT | +0.0012% | 8h | 85,510.5 | +0.041% | $515.5M | $1.10B | 200x | as long as short |
| dYdX BTC-USD | +0.0015% | 1h | 85,497.7 | +0.026% | $16.7M | $21.3M | 50x | as long as short |
| Arcus BTC-USDlong | +0.0021% | 1h | 85,475.5 | long leg | $4.9M | $97.9M | 40x | |
| Nado BTC-PERP | +0.0023% | 1h | 85,517.1 | +0.049% | $25.5M | $222.3M | 50x | as long as short |
Phoenix BTC
Hotstuff BTC-PERP
01 Exchange BTCUSD
BloFin BTC-USDT
KuCoin XBTUSDTM
gTrade (Gains Network) BTC/USD
Aster BTCUSDT
dYdX BTC-USD
Nado BTC-PERPShow all 56 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| BingX BTC-USDC | +0.0062% | 8h | 85,508.4 | +0.038% | — | $17.1M | — | as long as short |
| Phemex BTCUSDT | +0.0073% | 8h | 85,510.2 | +0.041% | $147.6M | $487.2M | 150x | as long as short |
| Bitget BTCUSDT | +0.0078% | 8h | 85,522.1 | +0.055% | $2.95B | $5.07B | 150x | as long as short |
| Reya BTCRUSDPERP | +0.0082% | 1h | 85,507.2 | +0.037% | $6.7M | $146.8M | 40x | as long as short |
| MEXC BTC_USDT | +0.0095% | 8h | 85,524.4 | +0.057% | $5.06B | $5.64B | 500x | as long as short |
| Lighter BTC | +0.0096% | 1h | 85,530.2 | +0.064% | $173.0M | $1.01B | 50x | as long as short |
| Lighter RH BTC | +0.0096% | 1h | 85,540.9 | +0.077% | $23.9M | $149.2M | 50x | as long as short |
| Popdex BTCUSDT | +0.0096% | 1h | 85,506 | +0.036% | $8.4M | $52.9M | 100x | as long as short |
| Aevo BTC-PERP | +0.0096% | 1h | 85,514.3 | +0.045% | $2.5M | $1.7M | 20x | as long as short |
| Binance BTCUSDT | +0.0097% | 8h | 85,528.7 | +0.062% | $9.36B | $24.13B | 150x | as long as short |
| Katana Perps BTC-USD | +0.0100% | 8h | 85,469 | −0.008% | $210K | $8.1M | 50x | as long as short |
| Paradex BTC-USD-PERP | +0.0100% | 8h | 85,590.5 | +0.135% | $4.8M | $8.9M | 50x | as long as short |
| Hyperliquid BTC | +0.0100% | 1h | 85,601 | +0.147% | $3.75B | $4.98B | 40x | as long as short |
| Pacifica BTC | +0.0100% | 1h | 85,539 | +0.074% | $40.7M | $580.0M | 50x | as long as short |
| Bybit BTCUSDT | +0.0100% | 8h | 85,520.8 | +0.053% | $5.21B | $9.79B | 150x | as long as short |
| OKX BTC-USDT-SWAP | +0.0100% | 8h | 85,529.9 | +0.064% | $2.58B | $12.14B | 100x | as long as short |
| Ondo Perps BTC-USD.P | +0.0100% | 1h | 85,502 | +0.031% | $3.8M | $18.2M | 25x | as long as short |
| Bulk BTC-USD | +0.0100% | 1h | 85,516 | +0.047% | $659.1M | $647.8M | 40x | as long as short |
| Gate BTC_USDT | +0.0100% | 8h | 85,526.6 | +0.060% | $5.51B | $10.72B | 200x | as long as short |
| Backpack BTC_USDC_PERP | +0.0100% | 1h | 85,517 | +0.049% | $35.7M | $176.6M | 75x | as long as short |
| Variational Omni BTC | +0.0100% | 8h | 85,455.5 | −0.023% | $153.7M | $564.5M | — | as long as short |
| edgeX BTCUSDC | +0.0100% | 4h | 85,449 | −0.031% | $279.2M | $919.9M | 100x | as long as short |
| GRVT BTC_USDT_Perp | +0.0100% | 8h | 85,448.2 | −0.032% | $214.5M | $169.2M | 50x | as long as short |
| ApeX Omni BTCUSDT | +0.0100% | 1h | 85,461 | −0.017% | $139.8M | $314.6M | 100x | as long as short |
| StandX BTC-USD | +0.0100% | 1h | 85,507.1 | +0.037% | $30.2M | $208.1M | 40x | as long as short |
| Vest BTC-PERP | +0.0100% | 1h | 85,567.5 | +0.108% | — | $11.8M | 50x | as long as short |
| Polymarket Perps BTC-USD | +0.0100% | 1h | 85,510 | +0.040% | $11.1M | $14.3M | 50x | as long as short |
| Bullet BTC-USD | +0.0100% | 1h | 85,513.5 | +0.044% | $189K | $3.3M | 20x | as long as short |
| Orderly PERP_BTC_USDC | +0.0100% | 8h | 85,516.9 | +0.048% | $2.4M | $8.8M | 100x | as long as short |
| Bluefin BTC-PERP | +0.0100% | 1h | 85,558.8 | +0.097% | $207K | $738K | 40x | as long as short |
| Derive BTC-PERP | +0.0100% | 1h | 85,509.5 | +0.040% | $29.9M | $50.4M | 15x | as long as short |
| SunX BTC-USDT | +0.0100% | 8h | 85,493.4 | +0.021% | $2.9M | $6.1M | 100x | as long as short |
| SoDEX BTC-USD | +0.0100% | 1h | 85,521 | +0.053% | $59.9M | $336.2M | 40x | as long as short |
| HTX BTC-USDT | +0.0100% | 8h | 85,499.9 | +0.029% | $2.26B | $942.3M | 200x | as long as short |
| Extended BTC-USD | +0.0104% | 1h | 85,493.3 | +0.021% | $44.6M | $230.7M | 50x | as long as short |
| Jupiter Perps WBTC-PERP | L +0.0104% / S +0.0056% | 1h | 85,526.1 | +0.059% | — | $107.4M | 500x | as long as short |
| Coinbase International BTC-PERP-INTXshort | +0.0104% | 1h | 85,559.8 | +0.099% | $117.0M | $5.19B | 50x | |
| Deribit BTC-PERPETUAL | +0.0149% | 1h | 85,562.4 | +0.102% | $884.7M | $1.56B | 50x | as long as short |
| Injective BTC/USDC PERP | +0.0150% | 1h | 85,475 | −0.001% | $339K | $26.9M | 52x | as long as short |
| Kraken Futures PF_XBTUSD | +0.0170% | 1h | 85,544.3 | +0.080% | $187.6M | $954.9M | 100x | as long as short |
| RISEx BTC/USDC | +0.0194% | 1h | 85,529.4 | +0.063% | $8.2M | $42.5M | 25x | as long as short |
| GMX BTC/USD [WBTC.b-USDC] | L +0.0202% / S −0.0177% | 1h | 85,522.9 | +0.055% | $13.4M | — | 200x | as long as short |
| Aftermath Perps BTCUSD | +0.0202% | 1h | 85,521.4 | +0.054% | $78K | $219K | 20x | as long as short |
| Hibachi BTC/USDT-P | +0.0208% | 1h | 85,537.3 | +0.072% | $703K | $7.9M | 30x | as long as short |
| Kalshi KXBTCPERP | +0.0218% | 8h | 85,539 | +0.074% | $10.5M | $756.5M | 6.4x | as long as short |
| Perpl BTC | +0.0447% | 43m | 85,524.2 | +0.057% | $501K | $18.8M | 6.7x | as long as short |
BingX BTC-USDC
Phemex BTCUSDT
Bitget BTCUSDT
Reya BTCRUSDPERP
MEXC BTC_USDT
Lighter BTC
Lighter RH BTC
Popdex BTCUSDT
Aevo BTC-PERP
Binance BTCUSDT
Katana Perps BTC-USD
Paradex BTC-USD-PERP
Hyperliquid BTC
Pacifica BTC
Bybit BTCUSDT
OKX BTC-USDT-SWAP
Ondo Perps BTC-USD.P
Bulk BTC-USD
Gate BTC_USDT
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
Deribit BTC-PERPETUAL
Injective BTC/USDC PERP
Kraken Futures PF_XBTUSD
RISEx BTC/USDC
GMX BTC/USD [WBTC.b-USDC]
Aftermath Perps BTCUSD
Hibachi BTC/USDT-P
Kalshi KXBTCPERP
Perpl BTC