Funding you earn now, next payment 09:00 UTC+0.0049%/8h= +5.4% APRnext payment +$0.06 per $10,000 · paid last 24h −0.021%
Price spread now: Reya against Bulk−0.153%7-day average −0.036% · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 4 days (all we have)−0.014%−$1 on $10k
+Price spread, last 7 days+0.129%+$13 · spread now −0.153%, 7d avg −0.036%
=Together, before fees+0.115%+ Points / potential airdropReya: Active · farm board+$11 on $10k · with fees, hour by hour
Funding pays, the price is against you. Reya is 0.117% cheaper against Bulk than usual: you would sell low and buy high (spread −0.153% now, against its 7-day average of −0.036%). If the spread goes back, that is −$12 on $10k: about 7.9 days of funding at the current rate (+$1 a day).
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Bulk BTC-USD | 85,499.9 | 0.0100 | pay 0.0013% / 1h | 29m 54s | $701.6M | $160.9M | 40x |
| Short | Reya BTCRUSDPERP | 85,369.3 | 0.0149 | get 0.0019% / 1h | 29m 54s | $6.6M | $137.1M | 40x |
Bulk BTC-USD
Reya BTCRUSDPERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Reya 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
- $10.36
- Price spread: −0.153% → −0.036%
- −$11.66
- Slippage, 4 orders
- no order book: not counted
- Fee Bulk: 3.5 bp × 2 orders
- −$7
- Fee Reya: 3 bp × 2 orders
- −$6
- Net
- −$14.3
- Costs to cover
- 0.130%
- Break-even
- 16.7 days
Slippage unknown: Bulk: live order book, 9 min ago; Reya: 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 Bulk live order book, 9 min ago | 0.01 bp | 3.5 bp −$4 | 3.5 bp −$35 | 3.5 bp −$351 | 3.7 bp −$1,838 |
| Sell Reya no order-book sample | — | — | — | — | — |
Reya: 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 | |
|---|---|---|---|---|---|---|---|---|
| Bluefin BTC-PERP | −0.1233% | 1h | 85,423.3 | −0.090% | $194K | $796K | 40x | as long as short |
| Hotstuff BTC-PERP | −0.0080% | 1h | 85,391 | −0.127% | $8K | $2K | 50x | as long as short |
| BloFin BTC-USDT | −0.0020% | 8h | 85,401.4 | −0.115% | $422.4M | $674.9M | 150x | as long as short |
| Injective BTC/USDC PERP | −0.0006% | 1h | 85,438 | −0.072% | $307K | $25.3M | 52x | as long as short |
| 01 Exchange BTCUSD | 0.0000% | 1h | 85,406 | −0.110% | $351K | $2.2M | 50x | as long as short |
| gTrade (Gains Network) BTC/USD | L +0.0004% / S −0.0004% | 1h | 85,388.1 | −0.131% | $36.5M | — | 200x | as long as short |
| KuCoin XBTUSDTM | +0.0017% | 8h | 85,385.7 | −0.134% | $936.2M | $770.3M | 125x | as long as short |
| Aster BTCUSDT | +0.0033% | 8h | 85,380.8 | −0.139% | $502.7M | $1.08B | 200x | as long as short |
| dYdX BTC-USD | +0.0054% | 1h | 85,425.5 | −0.087% | $16.7M | $21.0M | 50x | as long as short |
| Kraken Futures PF_XBTUSD | +0.0068% | 1h | 85,393.6 | −0.124% | $185.6M | $934.5M | 100x | as long as short |
Bluefin BTC-PERP
Hotstuff BTC-PERP
BloFin BTC-USDT
Injective BTC/USDC PERP
01 Exchange BTCUSD
gTrade (Gains Network) BTC/USD
KuCoin XBTUSDTM
Aster BTCUSDT
dYdX BTC-USD
Kraken Futures PF_XBTUSDShow all 56 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Phoenix BTC | +0.0075% | 1h | 85,542 | +0.049% | $2.3M | $10.4M | 40x | as long as short |
| BingX BTC-USDC | +0.0080% | 8h | 85,366.7 | −0.156% | — | $17.4M | — | as long as short |
| Lighter BTC | +0.0096% | 1h | 85,391.3 | −0.127% | $170.9M | $946.0M | 50x | as long as short |
| Lighter RH BTC | +0.0096% | 1h | 85,391.7 | −0.127% | $23.5M | $134.7M | 50x | as long as short |
| Popdex BTCUSDT | +0.0096% | 1h | 85,393 | −0.125% | $8.7M | $58.0M | 100x | as long as short |
| Aevo BTC-PERP | +0.0096% | 1h | 85,379.2 | −0.141% | $2.4M | $6.7M | 20x | as long as short |
| Nado BTC-PERP | +0.0097% | 1h | 85,389.7 | −0.129% | $24.0M | $215.5M | 50x | as long as short |
| Katana Perps BTC-USD | +0.0100% | 8h | 85,378 | −0.143% | $265K | $8.7M | 50x | as long as short |
| Paradex BTC-USD-PERP | +0.0100% | 8h | 85,433.5 | −0.078% | $5.7M | $9.3M | 50x | as long as short |
| Pacifica BTC | +0.0100% | 1h | 85,427.2 | −0.085% | $40.5M | $604.9M | 50x | as long as short |
| Binance BTCUSDT | +0.0100% | 8h | 85,383.4 | −0.136% | $9.39B | $24.91B | 150x | as long as short |
| Bybit BTCUSDT | +0.0100% | 8h | 85,382.1 | −0.138% | $5.08B | $9.89B | 150x | as long as short |
| OKX BTC-USDT-SWAP | +0.0100% | 8h | 85,385 | −0.134% | $2.61B | $12.03B | 100x | as long as short |
| Ondo Perps BTC-USD.P | +0.0100% | 1h | 85,395 | −0.123% | $3.9M | $17.2M | 25x | as long as short |
| Arcus BTC-USD | +0.0100% | 1h | 85,408.2 | −0.107% | $5.0M | $97.4M | 40x | as long as short |
| Bulk BTC-USDlong | +0.0100% | 1h | 85,499.9 | long leg | $701.6M | $160.9M | 40x | |
| Gate BTC_USDT | +0.0100% | 8h | 85,390.9 | −0.127% | $5.50B | $9.92B | 200x | as long as short |
| MEXC BTC_USDT | +0.0100% | 8h | 85,384.5 | −0.135% | $5.05B | $5.75B | 500x | as long as short |
| Bitget BTCUSDT | +0.0100% | 8h | 85,382.7 | −0.137% | $2.97B | $5.10B | 150x | as long as short |
| Backpack BTC_USDC_PERP | +0.0100% | 1h | 85,375.6 | −0.145% | $37.6M | $193.4M | 75x | as long as short |
| Variational Omni BTC | +0.0100% | 8h | 85,397.1 | −0.120% | $156.0M | $540.5M | — | as long as short |
| edgeX BTCUSDC | +0.0100% | 4h | 85,437.2 | −0.073% | $285.6M | $965.2M | 100x | as long as short |
| GRVT BTC_USDT_Perp | +0.0100% | 8h | 85,507.3 | +0.009% | $214.8M | $155.4M | 50x | as long as short |
| ApeX Omni BTCUSDT | +0.0100% | 1h | 85,439.8 | −0.070% | $136.7M | $312.3M | 100x | as long as short |
| StandX BTC-USD | +0.0100% | 1h | 85,440 | −0.070% | $30.1M | $218.5M | 40x | as long as short |
| Vest BTC-PERP | +0.0100% | 1h | 85,470.1 | −0.035% | — | $10.0M | 50x | as long as short |
| Polymarket Perps BTC-USD | +0.0100% | 1h | 85,230 | −0.316% | $10.9M | $14.5M | 50x | as long as short |
| Bullet BTC-USD | +0.0100% | 1h | 85,397.9 | −0.119% | $219K | $3.3M | 20x | as long as short |
| Orderly PERP_BTC_USDC | +0.0100% | 8h | 85,385.4 | −0.134% | $2.7M | $9.8M | 100x | as long as short |
| Derive BTC-PERP | +0.0100% | 1h | 85,444.6 | −0.065% | $28.8M | $52.4M | 15x | as long as short |
| SunX BTC-USDT | +0.0100% | 8h | 85,394.1 | −0.124% | $3.0M | $6.7M | 100x | as long as short |
| SoDEX BTC-USD | +0.0100% | 1h | 85,400 | −0.117% | $59.8M | $336.3M | 40x | as long as short |
| HTX BTC-USDT | +0.0100% | 8h | 85,381.2 | −0.139% | $2.26B | $969.9M | 200x | as long as short |
| Phemex BTCUSDT | +0.0100% | 8h | 85,388.6 | −0.130% | $163.4M | $513.9M | 150x | as long as short |
| Extended BTC-USD | +0.0104% | 1h | 85,362.2 | −0.161% | $45.9M | $239.8M | 50x | as long as short |
| Jupiter Perps WBTC-PERP | L +0.0104% / S +0.0056% | 1h | 85,411.8 | −0.103% | — | $106.9M | 500x | as long as short |
| Coinbase International BTC-PERP-INTX | +0.0112% | 1h | 85,427.6 | −0.085% | $111.7M | $5.40B | 50x | as long as short |
| Reya BTCRUSDPERPshort | +0.0149% | 1h | 85,369.3 | −0.153% | $6.6M | $137.1M | 40x | |
| Hyperliquid BTC | +0.0158% | 1h | 85,464 | −0.042% | $3.83B | $5.14B | 40x | as long as short |
| GMX BTC/USD [WBTC.b-USDC] | L +0.0174% / S −0.0149% | 1h | 85,388.1 | −0.131% | $13.0M | — | 200x | as long as short |
| RISEx BTC/USDC | +0.0194% | 1h | 85,421.6 | −0.092% | $8.9M | $42.3M | 25x | as long as short |
| Kalshi KXBTCPERP | +0.0194% | 8h | 85,423 | −0.090% | $10.6M | $736.3M | 6.4x | as long as short |
| Deribit BTC-PERPETUAL | +0.0241% | 1h | 85,433.2 | −0.078% | $831.7M | $1.66B | 50x | as long as short |
| Aftermath Perps BTCUSD | +0.0331% | 1h | 85,465.4 | −0.040% | $81K | $260K | 20x | as long as short |
| Hibachi BTC/USDT-P | +0.0352% | 1h | 85,451 | −0.057% | $688K | $7.6M | 30x | as long as short |
| Perpl BTC | +0.0447% | 43m | 85,420.9 | −0.092% | $459K | $18.1M | 6.7x | as long as short |
Phoenix BTC
BingX BTC-USDC
Lighter BTC
Lighter RH BTC
Popdex BTCUSDT
Aevo BTC-PERP
Nado BTC-PERP
Katana Perps BTC-USD
Paradex BTC-USD-PERP
Pacifica BTC
Binance BTCUSDT
Bybit BTCUSDT
OKX BTC-USDT-SWAP
Ondo Perps BTC-USD.P
Arcus BTC-USD
Gate BTC_USDT
MEXC BTC_USDT
Bitget BTCUSDT
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
Derive BTC-PERP
SunX BTC-USDT
SoDEX BTC-USD
HTX BTC-USDT
Phemex BTCUSDT
Extended BTC-USD
Jupiter Perps WBTC-PERP
Coinbase International BTC-PERP-INTX
Hyperliquid BTC
GMX BTC/USD [WBTC.b-USDC]
RISEx BTC/USDC
Kalshi KXBTCPERP
Deribit BTC-PERPETUAL
Aftermath Perps BTCUSD
Hibachi BTC/USDT-P
Perpl BTC