BTC

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC−0.0020%/8h= −2.2% APRnext payment −$0.02 per $10,000 · paid last 24h +0.122%

Price spread now: Aevo against Bluefin−0.057%7-day average −0.002% · you buy dearer than you sell

Net, funding: paid 7d − costs+$5as in the Funding arb table

Net, price: spread back to 7d avg − costs−$37as in the Price arb table

costs, in and out, $10k−$320.320% of the position

Long on Bluefin Short on Aevo

What this pair did over the last

the charts below follow

Funding, last 7 days+0.374%+$37 on $10k

Price spread, last 4 days (all we have)+0.057%+$6 · spread now −0.057%, 7d avg −0.002%

Together, before fees+0.431%+$43 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Aevo is 0.054% cheaper against Bluefin than usual: you would sell low and buy high (−$5 if the spread goes back to its 7-day average of −0.002%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.374%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bluefin BTC-PERP	85,849.7	0.0100	pay 0.0013% / 1h	7m 42s	$143K	$607K	40x
Short	Aevo BTC-PERP	85,801.2	0.0080	get 0.0010% / 1h	7m 42s	$2.4M	$6.8M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aevo against Bluefin. 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 BluefinbpFee AevobpOrdersPrice spread, now −0.057%Rate

Funding earned: −$4.2
Price spread: −0.057% → −0.002%: −$5.4
Slippage, 4 orders: −$8.99
Fee Bluefin: 3.5 bp × 2 orders: −$7
Fee Aevo: 8 bp × 2 orders: −$16
Net: −$41.59
Costs to cover: 0.320%
Break-even: never at this rate

Slippage from Bluefin: live order book, 39 min ago; Aevo: 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 Bluefin live order book, 39 min ago	1.21 bp	6.2 bp −$6	9.8 bp −$98	doesn't fit	doesn't fit
Sell Aevo live order book, 5 min ago	0.87 bp	9.1 bp −$9	11.2 bp −$112	15.4 bp −$1,540	doesn't fit

BTC on 56 exchanges

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	−0.0133%	1h	85,779	−0.082%	$2.1M	$7.8M	40x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	86,195	+0.402%	$8K	$2K	50x	as long as short
BloFin BTC-USDT	−0.0043%	8h	85,800.1	−0.058%	$421.5M	$548.9M	150x	as long as short
01 Exchange BTCUSD	−0.0040%	1h	85,814.5	−0.041%	$367K	$1.9M	50x	as long as short
SoDEX BTC-USD	−0.0011%	1h	85,823	−0.031%	$65.8M	$187.7M	40x	as long as short
Perpl BTC	0.0000%	43m	85,799.2	−0.059%	$466K	$13.4M	6.7x	as long as short
dYdX BTC-USD	0.0000%	1h	85,844.4	−0.006%	$16.8M	$13.6M	50x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0004% / S −0.0004%	1h	85,829.1	−0.024%	$36.9M	—	200x	as long as short
Injective BTC/USDC PERP	+0.0009%	1h	85,788	−0.072%	$320K	$30.2M	52x	as long as short
Aster BTCUSDT	+0.0013%	8h	85,827.6	−0.026%	$511.0M	$846.5M	200x	as long as short

Show all 56 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Kraken Futures PF_XBTUSD	+0.0030%	1h	85,837.8	−0.014%	$192.0M	$751.2M	100x	as long as short
BingX BTC-USDT	+0.0043%	8h	85,840.2	−0.011%	—	$1.30B	—	as long as short
Popdex BTCUSDT	+0.0048%	1h	85,812	−0.044%	$8.6M	$45.5M	100x	as long as short
KuCoin XBTUSDTM	+0.0052%	8h	85,823.1	−0.031%	$940.5M	$636.0M	125x	as long as short
Bybit BTCUSDT	+0.0057%	8h	85,841.1	−0.010%	$5.13B	$8.05B	150x	as long as short
HTX BTC-USDT	+0.0067%	8h	85,810.7	−0.045%	$2.27B	$786.8M	200x	as long as short
Phemex BTCUSDT	+0.0068%	8h	85,820.3	−0.034%	$169.8M	$476.2M	150x	as long as short
Gate BTC_USDT	+0.0074%	8h	85,842.2	−0.009%	$5.51B	$9.04B	200x	as long as short
MEXC BTC_USDT	+0.0076%	8h	85,834.7	−0.017%	$5.16B	$4.91B	500x	as long as short
Binance BTCUSDT	+0.0077%	8h	85,834	−0.018%	$9.40B	$20.28B	150x	as long as short
Aevo BTC-PERPshort	+0.0080%	1h	85,801.2	−0.057%	$2.4M	$6.8M	20x
Bitget BTCUSDT	+0.0088%	8h	85,838.2	−0.013%	$3.00B	$3.89B	150x	as long as short
GRVT BTC_USDT_Perp	+0.0091%	8h	85,780	−0.081%	$215.5M	$132.8M	50x	as long as short
Bullet BTC-USD	+0.0096%	1h	85,825	−0.029%	$211K	$3.2M	20x	as long as short
Lighter BTC	+0.0096%	1h	85,852.8	+0.004%	$173.1M	$874.3M	50x	as long as short
Lighter RH BTC	+0.0096%	1h	85,855.8	+0.007%	$23.7M	$121.7M	50x	as long as short
Nado BTC-PERP	+0.0097%	1h	85,827.1	−0.026%	$23.0M	$190.6M	50x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	85,815	−0.040%	$230K	$8.0M	50x	as long as short
Paradex BTC-USD-PERP	+0.0100%	8h	85,860	+0.012%	$5.9M	$7.3M	50x	as long as short
Pacifica BTC	+0.0100%	1h	85,870.4	+0.024%	$40.0M	$571.4M	50x	as long as short
OKX BTC-USDT-SWAP	+0.0100%	8h	85,855.1	+0.006%	$2.62B	$9.27B	100x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	85,809	−0.047%	$3.9M	$14.7M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	85,839.8	−0.012%	$4.9M	$91.5M	40x	as long as short
Bulk BTC-USD	+0.0100%	1h	85,846.4	−0.004%	$713.8M	$100.1M	40x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	85,807.7	−0.049%	$38.0M	$194.9M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	85,758.6	−0.106%	$155.2M	$472.1M	—	as long as short
edgeX BTCUSDC	+0.0100%	4h	85,762.7	−0.101%	$289.2M	$737.2M	100x	as long as short
ApeX Omni BTCUSDT	+0.0100%	1h	85,763.4	−0.101%	$137.7M	$288.4M	100x	as long as short
StandX BTC-USD	+0.0100%	1h	85,786.7	−0.073%	$30.2M	$226.5M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	85,863.8	+0.016%	—	$10.2M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	85,814	−0.042%	$11.0M	$11.9M	50x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	85,816.7	−0.038%	$2.6M	$8.9M	100x	as long as short
Bluefin BTC-PERPlong	+0.0100%	1h	85,849.7	long leg	$143K	$607K	40x
Derive BTC-PERP	+0.0100%	1h	85,867.5	+0.021%	$29.0M	$44.5M	15x	as long as short
SunX BTC-USDT	+0.0100%	8h	85,816.3	−0.039%	$3.3M	$6.7M	100x	as long as short
Extended BTC-USD	+0.0104%	1h	85,810.1	−0.046%	$47.0M	$192.7M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0056%	1h	85,839.9	−0.011%	—	$79.8M	500x	as long as short
Coinbase International BTC-PERP-INTX	+0.0120%	1h	85,866.9	+0.020%	$112.3M	$4.94B	50x	as long as short
Hyperliquid BTC	+0.0147%	1h	85,920	+0.082%	$3.94B	$4.17B	40x	as long as short
Kalshi KXBTCPERP	+0.0156%	8h	85,840	−0.011%	$12.0M	$735.6M	6.4x	as long as short
Reya BTCRUSDPERP	+0.0170%	1h	85,807	−0.050%	$6.6M	$128.9M	40x	as long as short
RISEx BTC/USDC	+0.0187%	1h	85,862.2	+0.015%	$9.0M	$35.7M	25x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0211% / S −0.0250%	1h	85,780.6	−0.081%	$15.5M	—	200x	as long as short
Deribit BTC-PERPETUAL	+0.0213%	1h	85,869.9	+0.024%	$820.4M	$1.50B	50x	as long as short
Hibachi BTC/USDT-P	+0.0320%	1h	85,836.4	−0.015%	$690K	$6.7M	30x	as long as short
Aftermath Perps BTCUSD	+0.0362%	1h	85,838	−0.014%	$79K	$228K	20x	as long as short