BTC

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0012%/8h= +1.3% APRnext payment +$0.01 per $10,000 · paid last 24h +0.009%

Price spread now: Coinbase International against Bullet+0.067%50s7-day average +0.040% · 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—prices read too far apart to compare

costs, in and out, $10k−$210.212% of the position

Long on Bullet Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.023%+$2 on $10k

Price spread, last 4 days (all we have)−0.094%−$9 · spread now +0.067%, 7d avg +0.040%

Together, before fees−0.071%−$7 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays $0 a day on $10k at the current rate, and Coinbase International is 0.027% dearer against Bullet than usual: you sell high and buy low: +$3 more if the spread goes back to its 7-day average of +0.040%. The two prices were read 50 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bullet BTC-USD	85,415	0.0100	pay 0.0013% / 1h	31m 30s	$219K	$3.3M	20x
Short	Coinbase International BTC-PERP-INTX	85,472.1	0.0112	get 0.0014% / 1h	31m 30s	$111.9M	$5.42B	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against Bullet. 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 BulletbpFee Coinbase InternationalbpOrdersPrice spread, now +0.067%Rate

Funding earned: $2.52
Price spread: +0.067% → +0.040%: $2.67
Slippage, 4 orders: −$3.18
Fee Bullet: 4 bp × 2 orders: −$8
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$15.99
Costs to cover: 0.212%
Break-even: 51.4 days

Slippage from Bullet: live order book, 3 min ago; Coinbase International: 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 Bullet live order book, 3 min ago	0.12 bp	5.9 bp −$6	8.2 bp −$82	doesn't fit	doesn't fit
Sell Coinbase International live order book, 3 min ago	0.01 bp	5.0 bp −$5	5.0 bp −$50	5.2 bp −$519	11.1 bp −$5,570

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	−0.1383%	1h	85,465.6	+0.059%	$194K	$796K	40x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	85,415	0.000%	$8K	$2K	50x	as long as short
BloFin BTC-USDT	−0.0020%	8h	85,441.3	+0.031%	$422.6M	$676.5M	150x	as long as short
Injective BTC/USDC PERP	−0.0006%	1h	85,438	+0.027%	$307K	$25.0M	52x	as long as short
01 Exchange BTCUSD	0.0000%	1h	85,427.8	+0.015%	$351K	$2.2M	50x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0004% / S −0.0004%	1h	85,424.3	+0.011%	$36.5M	—	200x	as long as short
KuCoin XBTUSDTM	+0.0015%	8h	85,419.6	+0.005%	$936.7M	$770.4M	125x	as long as short
Aster BTCUSDT	+0.0033%	8h	85,407.1	−0.009%	$502.5M	$1.08B	200x	as long as short
dYdX BTC-USD	+0.0050%	1h	85,470	+0.064%	$16.7M	$21.0M	50x	as long as short
Kraken Futures PF_XBTUSD	+0.0068%	1h	85,441.1	+0.031%	$185.6M	$936.0M	100x	as long as short

Show all 56 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phoenix BTC	+0.0075%	1h	85,542	+0.149%	$2.3M	$10.4M	40x	as long as short
BingX BTC-USDC	+0.0080%	8h	85,398.1	−0.020%	—	$17.4M	—	as long as short
Lighter BTC	+0.0096%	1h	85,425.6	+0.012%	$170.7M	$945.2M	50x	as long as short
Lighter RH BTC	+0.0096%	1h	85,427.4	+0.015%	$23.5M	$134.6M	50x	as long as short
Popdex BTCUSDT	+0.0096%	1h	85,415	0.000%	$8.7M	$58.0M	100x	as long as short
Aevo BTC-PERP	+0.0096%	1h	85,423.4	+0.010%	$2.4M	$6.7M	20x	as long as short
Nado BTC-PERP	+0.0096%	1h	85,411.8	−0.004%	$24.0M	$215.7M	50x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	85,398	−0.020%	$265K	$8.7M	50x	as long as short
Paradex BTC-USD-PERP	+0.0100%	8h	85,460	+0.053%	$5.7M	$9.3M	50x	as long as short
Pacifica BTC	+0.0100%	1h	85,450.4	+0.041%	$40.5M	$604.9M	50x	as long as short
Binance BTCUSDT	+0.0100%	8h	85,412.1	−0.003%	$9.39B	$24.91B	150x	as long as short
Bybit BTCUSDT	+0.0100%	8h	85,413.1	−0.002%	$5.09B	$9.89B	150x	as long as short
OKX BTC-USDT-SWAP	+0.0100%	8h	85,409.8	−0.006%	$2.61B	$12.05B	100x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	85,420	+0.006%	$3.9M	$17.3M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	85,434.2	+0.022%	$4.7M	$97.1M	40x	as long as short
Bulk BTC-USD	+0.0100%	1h	85,499.9	+0.099%	$701.6M	$160.9M	40x	as long as short
Gate BTC_USDT	+0.0100%	8h	85,422.5	+0.009%	$5.50B	$9.92B	200x	as long as short
MEXC BTC_USDT	+0.0100%	8h	85,416.5	+0.002%	$5.04B	$5.75B	500x	as long as short
Bitget BTCUSDT	+0.0100%	8h	85,404.5	−0.012%	$2.97B	$5.10B	150x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	85,407.3	−0.009%	$37.6M	$193.4M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	85,485.8	+0.083%	$155.9M	$543.2M	—	as long as short
edgeX BTCUSDC	+0.0100%	4h	85,437.2	+0.026%	$285.6M	$965.2M	100x	as long as short
GRVT BTC_USDT_Perp	+0.0100%	8h	85,507.3	+0.108%	$214.8M	$155.4M	50x	as long as short
ApeX Omni BTCUSDT	+0.0100%	1h	85,439.8	+0.029%	$136.7M	$312.3M	100x	as long as short
StandX BTC-USD	+0.0100%	1h	85,440	+0.029%	$30.1M	$218.5M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	85,494.9	+0.094%	—	$10.0M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	85,251	−0.192%	$10.9M	$14.6M	50x	as long as short
Bullet BTC-USDlong	+0.0100%	1h	85,415	long leg	$219K	$3.3M	20x
Orderly PERP_BTC_USDC	+0.0100%	8h	85,428.4	+0.016%	$2.7M	$9.8M	100x	as long as short
SunX BTC-USDT	+0.0100%	8h	85,463.9	+0.057%	$3.0M	$6.7M	100x	as long as short
SoDEX BTC-USD	+0.0100%	1h	85,426	+0.013%	$59.8M	$336.5M	40x	as long as short
HTX BTC-USDT	+0.0100%	8h	85,420.5	+0.006%	$2.26B	$971.7M	200x	as long as short
Phemex BTCUSDT	+0.0100%	8h	85,434.6	+0.023%	$163.1M	$513.8M	150x	as long as short
Extended BTC-USD	+0.0104%	1h	85,389.5	−0.030%	$45.8M	$239.8M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0056%	1h	85,476.3	+0.072%	—	$106.9M	500x	as long as short
Coinbase International BTC-PERP-INTXshort	+0.0112%	1h	85,472.1	+0.067%	$111.9M	$5.42B	50x
Derive BTC-PERP	+0.0123%	1h	85,569.1	+0.180%	$28.9M	$52.4M	15x	as long as short
Deribit BTC-PERPETUAL	+0.0124%	1h	85,472	+0.067%	$828.4M	$1.65B	50x	as long as short
Reya BTCRUSDPERP	+0.0149%	1h	85,398.4	−0.019%	$6.6M	$137.4M	40x	as long as short
Hyperliquid BTC	+0.0162%	1h	85,498	+0.097%	$3.84B	$5.14B	40x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0174% / S −0.0149%	1h	85,425.1	+0.012%	$13.0M	—	200x	as long as short
RISEx BTC/USDC	+0.0194%	1h	85,432.8	+0.021%	$8.9M	$42.2M	25x	as long as short
Kalshi KXBTCPERP	+0.0194%	8h	85,473	+0.068%	$10.7M	$736.7M	6.4x	as long as short
Aftermath Perps BTCUSD	+0.0324%	1h	85,486	+0.083%	$79K	$258K	20x	as long as short
Hibachi BTC/USDT-P	+0.0352%	1h	85,461.6	+0.055%	$688K	$7.6M	30x	as long as short
Perpl BTC	+0.0447%	43m	85,433	+0.021%	$459K	$18.1M	6.7x	as long as short