BTC

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0180%/8h= −19.7% APRnext payment −$0.23 per $10,000 · paid last 24h +0.122%

Price spread now: Hotstuff against Bluefin−0.093%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Bluefin Short on Hotstuff

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropHotstuff: Active · farm boardneeds both histories

Both sides work against this trade now: funding costs −$5 a day on $10k at the current rate, and Hotstuff is 0.093% cheaper against Bluefin than usual: you would sell low and buy high (−$9 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bluefin BTC-PERP	86,440	0.0100	pay 0.0013% / 1h	21m 38s	$140K	$664K	40x
Short	Hotstuff BTC-PERP	86,360	−0.0080	pay 0.0010% / 1h	21m 38s	$9K	$3K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hotstuff 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 HotstuffbpOrdersPrice spread, now −0.093%Rate

Funding earned: −$37.8
Price spread: −0.093% → 0.000%: −$9.25
Slippage, 4 orders: no order book: not counted
Fee Bluefin: 3.5 bp × 2 orders: −$7
Fee Hotstuff: 2.5 bp × 2 orders: −$5
Net: −$59.05
Costs to cover: 0.120%
Break-even: never at this rate

Slippage unknown: Bluefin: live order book, 58 min ago; Hotstuff: no order-book sample. Net counts fees only.

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, 58 min ago	1.10 bp	6.3 bp −$6	10.9 bp −$109	doesn't fit	doesn't fit
Sell Hotstuff no order-book sample	—	—	—	—	—

Hotstuff: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	−0.0118%	1h	86,430	−0.012%	$2.2M	$11.8M	40x	as long as short
Hotstuff BTC-PERPshort	−0.0080%	1h	86,360	−0.093%	$9K	$3K	50x
Injective BTC/USDC PERP	−0.0035%	1h	86,345	−0.110%	$332K	$26.9M	52x	as long as short
RISEx BTC/USDC	−0.0024%	1h	86,394	−0.053%	$8.3M	$42.8M	25x	as long as short
01 Exchange BTCUSD	−0.0016%	1h	86,392.5	−0.055%	$359K	$2.5M	50x	as long as short
Aster BTCUSDT	−0.0001%	8h	86,387.4	−0.061%	$501.2M	$1.15B	200x	as long as short
Perpl BTC	0.0000%	43m	86,423.6	−0.019%	$412K	$22.9M	6.7x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0005% / S −0.0004%	1h	86,435.5	−0.005%	$36.8M	—	200x	as long as short
KuCoin XBTUSDTM	+0.0017%	8h	86,396.4	−0.050%	$850.3M	$715.8M	125x	as long as short
Reya BTCRUSDPERP	+0.0032%	1h	86,409.8	−0.035%	$6.7M	$145.5M	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-USDC	+0.0042%	8h	86,373	−0.078%	—	$15.4M	—	as long as short
Bitget BTCUSDT	+0.0052%	8h	86,372.8	−0.078%	$2.96B	$5.13B	150x	as long as short
Phemex BTCUSDT	+0.0054%	8h	86,411.6	−0.033%	$150.2M	$478.7M	150x	as long as short
dYdX BTC-USD	+0.0060%	1h	86,411.1	−0.033%	$16.9M	$21.2M	50x	as long as short
Deribit BTC-PERPETUAL	+0.0067%	1h	86,445.3	+0.006%	$914.1M	$1.48B	50x	as long as short
MEXC BTC_USDT	+0.0068%	8h	86,382.2	−0.067%	$5.16B	$5.67B	500x	as long as short
Binance BTCUSDT	+0.0069%	8h	86,389.3	−0.059%	$9.42B	$24.59B	150x	as long as short
Aevo BTC-PERP	+0.0072%	1h	86,403.1	−0.043%	$2.4M	$1.3M	20x	as long as short
Gate BTC_USDT	+0.0081%	8h	86,378.7	−0.071%	$5.85B	$10.78B	200x	as long as short
SoDEX BTC-USD	+0.0088%	1h	86,403	−0.043%	$60.4M	$338.1M	40x	as long as short
Lighter BTC	+0.0096%	1h	86,392.2	−0.055%	$170.1M	$1.02B	50x	as long as short
Lighter RH BTC	+0.0096%	1h	86,404	−0.042%	$23.9M	$152.5M	50x	as long as short
Popdex BTCUSDT	+0.0096%	1h	86,426	−0.016%	$8.4M	$52.4M	100x	as long as short
Bybit BTCUSDT	+0.0097%	8h	86,384.7	−0.064%	$5.26B	$9.81B	150x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	86,363	−0.089%	$202K	$7.1M	50x	as long as short
Paradex BTC-USD-PERP	+0.0100%	8h	86,430.7	−0.011%	$4.8M	$8.5M	50x	as long as short
Nado BTC-PERP	+0.0100%	1h	86,366.2	−0.085%	$21.8M	$234.5M	50x	as long as short
Hyperliquid BTC	+0.0100%	1h	86,476	+0.042%	$3.79B	$5.10B	40x	as long as short
Pacifica BTC	+0.0100%	1h	86,417.2	−0.026%	$41.0M	$529.8M	50x	as long as short
OKX BTC-USDT-SWAP	+0.0100%	8h	86,388	−0.060%	$2.55B	$12.73B	100x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	86,397	−0.050%	$3.9M	$18.7M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	86,425.6	−0.017%	$7.4M	$95.5M	40x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	86,402.9	−0.043%	$38.0M	$156.7M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	86,405.8	−0.040%	$157.3M	$568.1M	—	as long as short
edgeX BTCUSDC	+0.0100%	4h	86,374.1	−0.076%	$279.0M	$945.8M	100x	as long as short
GRVT BTC_USDT_Perp	+0.0100%	8h	86,418.1	−0.025%	$217.0M	$171.6M	50x	as long as short
ApeX Omni BTCUSDT	+0.0100%	1h	86,375.3	−0.075%	$141.3M	$323.0M	100x	as long as short
StandX BTC-USD	+0.0100%	1h	86,377.3	−0.073%	$30.6M	$205.3M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	86,447.1	+0.008%	—	$11.9M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	86,419	−0.024%	$11.1M	$13.9M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	86,414.1	−0.030%	$190K	$3.3M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	86,406.6	−0.039%	$2.4M	$9.4M	100x	as long as short
Bluefin BTC-PERPlong	+0.0100%	1h	86,440	long leg	$140K	$664K	40x
Derive BTC-PERP	+0.0100%	1h	86,442.1	+0.002%	$30.5M	$62.6M	15x	as long as short
SunX BTC-USDT	+0.0100%	8h	86,402.6	−0.043%	$3.4M	$5.3M	100x	as long as short
HTX BTC-USDT	+0.0100%	8h	86,399	−0.047%	$2.29B	$969.6M	200x	as long as short
Bulk BTC-USD	+0.0100%	1h	86,464.9	+0.029%	$572.1M	$16.9M	40x	as long as short
Extended BTC-USD	+0.0104%	1h	86,355.2	−0.098%	$45.6M	$227.4M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0048%	1h	86,385.8	−0.063%	—	$99.0M	500x	as long as short
Kraken Futures PF_XBTUSD	+0.0110%	1h	86,435.2	−0.006%	$191.8M	$955.5M	100x	as long as short
Coinbase International BTC-PERP-INTX	+0.0112%	1h	86,450.9	+0.013%	$132.3M	$5.65B	50x	as long as short
Aftermath Perps BTCUSD	+0.0153%	1h	86,449.4	+0.011%	$78K	$219K	20x	as long as short
Hibachi BTC/USDT-P	+0.0184%	1h	86,386.3	−0.062%	$727K	$8.0M	30x	as long as short
BloFin BTC-USDT	+0.0189%	8h	86,365.3	−0.086%	$416.7M	$657.9M	150x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0197% / S −0.0220%	1h	86,425.1	−0.017%	$15.0M	—	200x	as long as short
Kalshi KXBTCPERP	+0.0206%	8h	86,419	−0.024%	$9.8M	$749.8M	6.4x	as long as short