Funding you earn now, next payment 02:00 UTC0.0000%/8h= 0.0% APRnext payment −$0.00 per $10,000 · paid last 24h +0.004%
Price spread now: Bullet against Bulk+0.003%7-day average +0.005% · 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−$16as in the Price arb table
costs, in and out, $10k−$160.159% of the position
Funding, last 3 days (all we have)−0.005%−$1 on $10k
+Price spread, last 7 days+0.001%$0 · spread now +0.003%, 7d avg +0.005%
=| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Bulk BTC-USD | 85,593.2 | 0.0100 | pay 0.0013% / 1h | 2m 25s | $605.0M | $283.5M | 40x |
| Short | Bullet BTC-USD | 85,595.6 | 0.0100 | get 0.0013% / 1h | 2m 25s | $187K | $3.3M | 20x |
Bulk BTC-USD
Bullet BTC-USDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Bullet against Bulk. 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
- $0
- Price spread: +0.003% → +0.005%
- −$0.24
- Slippage, 4 orders
- −$0.92
- Fee Bulk: 3.5 bp × 2 orders
- −$7
- Fee Bullet: 4 bp × 2 orders
- −$8
- Net
- −$16.16
- Costs to cover
- 0.159%
- Break-even
- never at this rate
Slippage from Bulk: live order book, 2 min ago; Bullet: live order book, 2 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 Bulk live order book, 2 min ago | 0.01 bp | 3.5 bp −$4 | 3.5 bp −$35 | 3.9 bp −$390 | 4.8 bp −$2,404 |
| Sell Bullet live order book, 2 min ago | 0.06 bp | 4.2 bp −$4 | 9.2 bp −$92 | doesn't fit | doesn't fit |
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 | +0.027% | $2.1M | $10.5M | 40x | as long as short |
| Hotstuff BTC-PERP | −0.0080% | 1h | 85,647 | +0.063% | $8K | $3K | 50x | as long as short |
| 01 Exchange BTCUSD | −0.0064% | 1h | 85,598.8 | +0.007% | $361K | $2.3M | 50x | as long as short |
| dYdX BTC-USD | +0.0001% | 1h | 85,643.5 | +0.059% | $16.8M | $21.0M | 50x | as long as short |
| gTrade (Gains Network) BTC/USD | L +0.0004% / S −0.0004% | 1h | 85,636.5 | +0.051% | $36.7M | — | 200x | as long as short |
| Injective BTC/USDC PERP | +0.0020% | 1h | 85,661 | +0.079% | $340K | $26.9M | 52x | as long as short |
| Aster BTCUSDT | +0.0024% | 8h | 85,589.7 | −0.004% | $516.1M | $1.12B | 200x | as long as short |
| KuCoin XBTUSDTM | +0.0025% | 8h | 85,587.5 | −0.007% | $902.1M | $748.9M | 125x | as long as short |
| Nado BTC-PERP | +0.0031% | 1h | 85,601.9 | +0.010% | $22.6M | $225.6M | 50x | as long as short |
| RISEx BTC/USDC | +0.0044% | 1h | 85,623.4 | +0.035% | $8.4M | $42.2M | 25x | as long as short |
Phoenix BTC
Hotstuff BTC-PERP
01 Exchange BTCUSD
dYdX BTC-USD
gTrade (Gains Network) BTC/USD
Injective BTC/USDC PERP
Aster BTCUSDT
KuCoin XBTUSDTM
Nado BTC-PERP
RISEx BTC/USDCShow all 55 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| BingX BTC-USDC | +0.0056% | 8h | 85,581.1 | −0.014% | — | $17.0M | — | as long as short |
| HTX BTC-USDT | +0.0059% | 8h | 85,627.2 | +0.040% | $2.27B | $934.3M | 200x | as long as short |
| Reya BTCRUSDPERP | +0.0062% | 1h | 85,594.9 | +0.002% | $6.7M | $146.4M | 40x | as long as short |
| Bitget BTCUSDT | +0.0069% | 8h | 85,589.3 | −0.005% | $2.95B | $5.03B | 150x | as long as short |
| Aevo BTC-PERP | +0.0080% | 1h | 85,626.5 | +0.039% | $2.5M | $1.7M | 20x | as long as short |
| SunX BTC-USDT | +0.0081% | 8h | 85,609.7 | +0.019% | $2.9M | $6.6M | 100x | as long as short |
| MEXC BTC_USDT | +0.0086% | 8h | 85,588.2 | −0.006% | $5.07B | $5.76B | 500x | as long as short |
| Binance BTCUSDT | +0.0087% | 8h | 85,597.7 | +0.005% | $9.33B | $23.97B | 150x | as long as short |
| Lighter BTC | +0.0096% | 1h | 85,589.9 | −0.004% | $170.3M | $996.8M | 50x | as long as short |
| Lighter RH BTC | +0.0096% | 1h | 85,595.8 | +0.003% | $23.9M | $148.9M | 50x | as long as short |
| Popdex BTCUSDT | +0.0096% | 1h | 85,599 | +0.007% | $8.4M | $51.6M | 100x | as long as short |
| ApeX Omni BTCUSDT | +0.0097% | 1h | 85,611.5 | +0.021% | $140.0M | $317.0M | 100x | as long as short |
| Paradex BTC-USD-PERP | +0.0099% | 8h | 85,634.3 | +0.048% | $3.8M | $8.3M | 50x | as long as short |
| Katana Perps BTC-USD | +0.0100% | 8h | 85,568 | −0.029% | $205K | $7.6M | 50x | as long as short |
| Hyperliquid BTC | +0.0100% | 1h | 85,667 | +0.086% | $3.76B | $4.92B | 40x | as long as short |
| Pacifica BTC | +0.0100% | 1h | 85,623 | +0.035% | $40.2M | $569.5M | 50x | as long as short |
| Bybit BTCUSDT | +0.0100% | 8h | 85,603.2 | +0.012% | $5.32B | $9.63B | 150x | as long as short |
| OKX BTC-USDT-SWAP | +0.0100% | 8h | 85,600 | +0.008% | $2.56B | $12.17B | 100x | as long as short |
| Ondo Perps BTC-USD.P | +0.0100% | 1h | 85,593 | 0.000% | $3.9M | $17.9M | 25x | as long as short |
| Arcus BTC-USD | +0.0100% | 1h | 85,565.2 | −0.033% | $7.1M | $96.4M | 40x | as long as short |
| Gate BTC_USDT | +0.0100% | 8h | 85,593.7 | +0.001% | $5.58B | $10.61B | 200x | as long as short |
| Backpack BTC_USDC_PERP | +0.0100% | 1h | 85,584.9 | −0.010% | $35.0M | $167.9M | 75x | as long as short |
| Variational Omni BTC | +0.0100% | 8h | 85,602.8 | +0.011% | $154.0M | $555.5M | — | as long as short |
| edgeX BTCUSDC | +0.0100% | 4h | 85,588.5 | −0.005% | $278.4M | $938.6M | 100x | as long as short |
| GRVT BTC_USDT_Perp | +0.0100% | 8h | 85,608.4 | +0.018% | $214.9M | $162.9M | 50x | as long as short |
| StandX BTC-USD | +0.0100% | 1h | 85,627.7 | +0.040% | $30.3M | $210.3M | 40x | as long as short |
| Vest BTC-PERP | +0.0100% | 1h | 85,656 | +0.073% | — | $11.8M | 50x | as long as short |
| Polymarket Perps BTC-USD | +0.0100% | 1h | 85,592 | −0.001% | $11.0M | $14.1M | 50x | as long as short |
| Bullet BTC-USDshort | +0.0100% | 1h | 85,595.6 | +0.003% | $187K | $3.3M | 20x | |
| Orderly PERP_BTC_USDC | +0.0100% | 8h | 85,633.7 | +0.047% | $2.4M | $8.9M | 100x | as long as short |
| Bluefin BTC-PERP | +0.0100% | 1h | 85,671.9 | +0.092% | $197K | $722K | 40x | as long as short |
| Derive BTC-PERP | +0.0100% | 1h | 85,634.2 | +0.048% | $30.0M | $56.1M | 15x | as long as short |
| SoDEX BTC-USD | +0.0100% | 1h | 85,638 | +0.052% | $60.0M | $336.5M | 40x | as long as short |
| Phemex BTCUSDT | +0.0100% | 8h | 85,595.1 | +0.002% | $150.7M | $480.1M | 150x | as long as short |
| Bulk BTC-USDlong | +0.0100% | 1h | 85,593.2 | long leg | $605.0M | $283.5M | 40x | |
| Extended BTC-USD | +0.0104% | 1h | 85,567.9 | −0.030% | $44.1M | $228.0M | 50x | as long as short |
| Jupiter Perps WBTC-PERP | L +0.0104% / S +0.0056% | 1h | 85,632.2 | +0.046% | — | $101.7M | 500x | as long as short |
| Coinbase International BTC-PERP-INTX | +0.0112% | 1h | 85,667 | +0.086% | $130.8M | $5.09B | 50x | as long as short |
| Kraken Futures PF_XBTUSD | +0.0146% | 1h | 85,653.9 | +0.071% | $187.1M | $952.9M | 100x | as long as short |
| Hibachi BTC/USDT-P | +0.0176% | 1h | 85,669.3 | +0.089% | $682K | $7.8M | 30x | as long as short |
| Aftermath Perps BTCUSD | +0.0181% | 1h | 85,648.7 | +0.065% | $78K | $219K | 20x | as long as short |
| GMX BTC/USD [WBTC.b-USDC] | L +0.0203% / S −0.0186% | 1h | 85,627.8 | +0.040% | $13.6M | — | 200x | as long as short |
| Kalshi KXBTCPERP | +0.0212% | 8h | 85,650 | +0.066% | $10.2M | $765.4M | 6.4x | as long as short |
| Deribit BTC-PERPETUAL | +0.0257% | 1h | 85,688.7 | +0.112% | $895.0M | $1.52B | 50x | as long as short |
| Perpl BTC | +0.0447% | 43m | 85,619.1 | +0.030% | $511K | $19.9M | 6.7x | as long as short |
BingX BTC-USDC
HTX BTC-USDT
Reya BTCRUSDPERP
Bitget BTCUSDT
Aevo BTC-PERP
SunX BTC-USDT
MEXC BTC_USDT
Binance BTCUSDT
Lighter BTC
Lighter RH BTC
Popdex BTCUSDT
ApeX Omni BTCUSDT
Paradex BTC-USD-PERP
Katana Perps BTC-USD
Hyperliquid BTC
Pacifica BTC
Bybit BTCUSDT
OKX BTC-USDT-SWAP
Ondo Perps BTC-USD.P
Arcus BTC-USD
Gate BTC_USDT
Backpack BTC_USDC_PERP
Variational Omni BTC
edgeX BTCUSDC
GRVT BTC_USDT_Perp
StandX BTC-USD
Vest BTC-PERP
Polymarket Perps BTC-USD
Orderly PERP_BTC_USDC
Bluefin BTC-PERP
Derive BTC-PERP
SoDEX BTC-USD
Phemex BTCUSDT
Extended BTC-USD
Jupiter Perps WBTC-PERP
Coinbase International BTC-PERP-INTX
Kraken Futures PF_XBTUSD
Hibachi BTC/USDT-P
Aftermath Perps BTCUSD
GMX BTC/USD [WBTC.b-USDC]
Kalshi KXBTCPERP
Deribit BTC-PERPETUAL
Perpl BTC