BTC

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0111%/8h= +12.1% APRnext payment +$0.14 per $10,000 · paid last 24h +0.037%

Price spread now: Deribit against Arcus+0.085%7-day average +0.031% · 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−$130.130% of the position

Long on Arcus Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.023%+$2 on $10k

Price spread, last 3 days (all we have)−0.072%−$7 · spread now +0.085%, 7d avg +0.031%

Together, before fees−0.048%−$5 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and Deribit is 0.054% dearer against Arcus than usual: you sell high and buy low: +$5 more if the spread goes back to its 7-day average of +0.031%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Arcus BTC-USD	85,530.7	0.0100	pay 0.0013% / 1h	0m 48s	$7.1M	$96.4M	40x
Short	Deribit BTC-PERPETUAL	85,603.3	0.0211	get 0.0026% / 1h	0m 48s	$894.9M	$1.52B	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against Arcus. 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 ArcusbpFee DeribitbpOrdersPrice spread, now +0.085%Rate

Funding earned: $23.27
Price spread: +0.085% → +0.031%: $5.43
Slippage, 4 orders: −$1.46
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: $15.74
Costs to cover: 0.130%
Break-even: 2.3 days

Slippage from Arcus: live order book, 3 min ago; Deribit: 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 Arcus live order book, 3 min ago	0.23 bp	2.9 bp −$3	3.4 bp −$34	6.9 bp −$686	doesn't fit
Sell Deribit live order book, 3 min ago	0.03 bp	3.8 bp −$4	5.0 bp −$50	8.6 bp −$862	18.0 bp −$8,998

BTC on 55 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	−0.0144%	1h	85,616	+0.100%	$2.1M	$10.5M	40x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	85,601	+0.082%	$8K	$3K	50x	as long as short
01 Exchange BTCUSD	−0.0064%	1h	85,553.7	+0.027%	$362K	$2.3M	50x	as long as short
dYdX BTC-USD	+0.0001%	1h	85,582.9	+0.061%	$16.7M	$21.0M	50x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0004% / S −0.0004%	1h	85,569.3	+0.045%	$36.6M	—	200x	as long as short
Injective BTC/USDC PERP	+0.0020%	1h	85,661	+0.152%	$340K	$26.9M	52x	as long as short
Aster BTCUSDT	+0.0022%	8h	85,526.4	−0.005%	$515.6M	$1.12B	200x	as long as short
KuCoin XBTUSDTM	+0.0023%	8h	85,513.2	−0.020%	$901.5M	$748.9M	125x	as long as short
Nado BTC-PERP	+0.0032%	1h	85,552.1	+0.025%	$22.6M	$225.2M	50x	as long as short
RISEx BTC/USDC	+0.0044%	1h	85,585	+0.063%	$8.4M	$42.2M	25x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX BTC-USDC	+0.0056%	8h	85,518	−0.015%	—	$17.0M	—	as long as short
HTX BTC-USDT	+0.0058%	8h	85,555.5	+0.029%	$2.27B	$933.0M	200x	as long as short
Reya BTCRUSDPERP	+0.0062%	1h	85,547.8	+0.020%	$6.7M	$146.4M	40x	as long as short
Bitget BTCUSDT	+0.0069%	8h	85,526.1	−0.005%	$2.94B	$5.03B	150x	as long as short
Aevo BTC-PERP	+0.0080%	1h	85,548.3	+0.021%	$2.5M	$1.7M	20x	as long as short
SunX BTC-USDT	+0.0080%	8h	85,564.8	+0.040%	$2.9M	$6.5M	100x	as long as short
MEXC BTC_USDT	+0.0086%	8h	85,528.1	−0.003%	$5.07B	$5.77B	500x	as long as short
Binance BTCUSDT	+0.0086%	8h	85,527.4	−0.004%	$9.32B	$23.95B	150x	as long as short
Lighter BTC	+0.0096%	1h	85,530.8	0.000%	$170.2M	$997.1M	50x	as long as short
Lighter RH BTC	+0.0096%	1h	85,539.4	+0.010%	$23.9M	$149.0M	50x	as long as short
Popdex BTCUSDT	+0.0096%	1h	85,553	+0.026%	$8.4M	$51.6M	100x	as long as short
Paradex BTC-USD-PERP	+0.0099%	8h	85,575.4	+0.052%	$3.8M	$8.3M	50x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	85,534	+0.004%	$204K	$7.6M	50x	as long as short
Hyperliquid BTC	+0.0100%	1h	85,594.5	+0.075%	$3.76B	$4.92B	40x	as long as short
Pacifica BTC	+0.0100%	1h	85,565.3	+0.040%	$40.2M	$569.5M	50x	as long as short
Bybit BTCUSDT	+0.0100%	8h	85,530.3	−0.001%	$5.32B	$9.62B	150x	as long as short
OKX BTC-USDT-SWAP	+0.0100%	8h	85,525.1	−0.007%	$2.56B	$12.13B	100x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	85,569	+0.045%	$3.9M	$17.9M	25x	as long as short
Arcus BTC-USDlong	+0.0100%	1h	85,530.7	long leg	$7.1M	$96.4M	40x
Gate BTC_USDT	+0.0100%	8h	85,540.2	+0.011%	$5.58B	$10.61B	200x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	85,545.5	+0.017%	$35.0M	$168.1M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	85,545	+0.017%	$154.0M	$554.0M	—	as long as short
edgeX BTCUSDC	+0.0100%	4h	85,613.3	+0.097%	$278.5M	$939.4M	100x	as long as short
GRVT BTC_USDT_Perp	+0.0100%	8h	85,624	+0.109%	$214.9M	$162.9M	50x	as long as short
ApeX Omni BTCUSDT	+0.0100%	1h	85,624.5	+0.110%	$140.0M	$316.3M	100x	as long as short
StandX BTC-USD	+0.0100%	1h	85,623.8	+0.109%	$30.3M	$210.8M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	85,620.5	+0.105%	—	$11.8M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	85,549	+0.021%	$11.0M	$14.1M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	85,559	+0.033%	$188K	$3.3M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	85,557.2	+0.031%	$2.4M	$8.9M	100x	as long as short
Bluefin BTC-PERP	+0.0100%	1h	85,594.9	+0.075%	$197K	$722K	40x	as long as short
Derive BTC-PERP	+0.0100%	1h	85,554.5	+0.028%	$30.0M	$52.7M	15x	as long as short
SoDEX BTC-USD	+0.0100%	1h	85,551	+0.024%	$59.9M	$336.4M	40x	as long as short
Phemex BTCUSDT	+0.0100%	8h	85,554.3	+0.028%	$150.2M	$479.7M	150x	as long as short
Bulk BTC-USD	+0.0100%	1h	85,593.2	+0.073%	$605.0M	$283.5M	40x	as long as short
Extended BTC-USD	+0.0104%	1h	85,507.8	−0.027%	$44.1M	$227.8M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0056%	1h	85,569.3	+0.045%	—	$101.7M	500x	as long as short
Coinbase International BTC-PERP-INTX	+0.0112%	1h	85,592	+0.072%	$130.7M	$5.08B	50x	as long as short
Kraken Futures PF_XBTUSD	+0.0146%	1h	85,575.6	+0.052%	$187.0M	$952.2M	100x	as long as short
Aftermath Perps BTCUSD	+0.0183%	1h	85,619	+0.103%	$78K	$219K	20x	as long as short
Hibachi BTC/USDT-P	+0.0184%	1h	85,631.9	+0.118%	$682K	$7.8M	30x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0203% / S −0.0186%	1h	85,565.7	+0.041%	$13.5M	—	200x	as long as short
Deribit BTC-PERPETUALshort	+0.0211%	1h	85,603.3	+0.085%	$894.9M	$1.52B	50x
Kalshi KXBTCPERP	+0.0212%	8h	85,586	+0.065%	$10.2M	$765.3M	6.4x	as long as short
Perpl BTC	+0.0447%	43m	85,605.3	+0.087%	$511K	$19.9M	6.7x	as long as short