BTC

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0157%/8h= +17.2% APRnext payment +$0.20 per $10,000 · paid last 24h −0.005%

Price spread now: RISEx against Bullet+0.007%48s7-day average +0.002% · 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−$160.164% of the position

Long on Bullet Short on RISEx

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.008%+$1 on $10k

Price spread, last 7 days+0.021%+$2 · spread now +0.007%, 7d avg +0.002%

Together, before fees+0.029%+$3 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.002%, so right now this pair is about funding alone: +$5 a day on $10k at the current rate. The two prices were read 48 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	85,505	0.0100	pay 0.0013% / 1h	3m 36s	$204K	$3.3M	20x
Short	RISEx BTC/USDC	85,511.1	0.0257	get 0.0032% / 1h	3m 36s	$8.8M	$43.2M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

RISEx 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 RISExbpOrdersPrice spread, now +0.007%Rate

Funding earned: $32.95
Price spread: +0.007% → +0.002%: $0.53
Slippage, 4 orders: −$2.36
Fee Bullet: 4 bp × 2 orders: −$8
Fee RISEx: 3 bp × 2 orders: −$6
Net: $17.12
Costs to cover: 0.164%
Break-even: 3.4 days

Slippage from Bullet: live order book, 1 min ago; RISEx: live order book, 6 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, 1 min ago	0.29 bp	5.0 bp −$5	7.4 bp −$74	doesn't fit	doesn't fit
Sell RISEx live order book, 6 min ago	0.01 bp	3.1 bp −$3	3.2 bp −$32	11.6 bp −$1,161	doesn't fit

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
Perpl BTC	−0.0112%	43m	85,508.2	+0.004%	$528K	$18.3M	6.7x	as long as short
Phoenix BTC	−0.0111%	1h	85,577	+0.084%	$2.1M	$10.4M	40x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	85,524	+0.022%	$8K	$3K	50x	as long as short
KuCoin XBTUSDTM	−0.0051%	8h	85,477	−0.033%	$928.8M	$771.9M	125x	as long as short
BloFin BTC-USDT	−0.0023%	8h	85,517.3	+0.014%	$417.9M	$684.0M	150x	as long as short
Aster BTCUSDT	−0.0007%	8h	85,485.5	−0.023%	$514.1M	$1.09B	200x	as long as short
01 Exchange BTCUSD	0.0000%	1h	85,514.2	+0.011%	$354K	$2.4M	50x	as long as short
dYdX BTC-USD	+0.0002%	1h	85,535.9	+0.036%	$16.8M	$21.4M	50x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0004% / S −0.0004%	1h	85,515.3	+0.012%	$36.5M	—	200x	as long as short
Injective BTC/USDC PERP	+0.0023%	1h	85,349	−0.182%	$339K	$26.8M	52x	as long as short

Show all 56 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Deribit BTC-PERPETUAL	+0.0035%	1h	85,528.6	+0.028%	$869.0M	$1.62B	50x	as long as short
Nado BTC-PERP	+0.0043%	1h	85,499.8	−0.006%	$24.6M	$222.5M	50x	as long as short
Kraken Futures PF_XBTUSD	+0.0056%	1h	85,502.4	−0.003%	$188.4M	$953.9M	100x	as long as short
BingX BTC-USDT	+0.0069%	8h	85,492.3	−0.015%	—	$1.56B	—	as long as short
Phemex BTCUSDT	+0.0080%	8h	85,496	−0.011%	$148.9M	$507.0M	150x	as long as short
Bitget BTCUSDT	+0.0087%	8h	85,488.4	−0.019%	$2.96B	$5.18B	150x	as long as short
Lighter BTC	+0.0096%	1h	85,501	−0.005%	$171.3M	$1.03B	50x	as long as short
Lighter RH BTC	+0.0096%	1h	85,507.1	+0.002%	$23.7M	$149.3M	50x	as long as short
Popdex BTCUSDT	+0.0096%	1h	85,505	0.000%	$8.4M	$55.9M	100x	as long as short
Aevo BTC-PERP	+0.0096%	1h	85,495.3	−0.011%	$2.4M	$6.7M	20x	as long as short
Coinbase International BTC-PERP-INTX	+0.0096%	1h	85,527.6	+0.026%	$117.2M	$5.45B	50x	as long as short
MEXC BTC_USDT	+0.0097%	8h	85,480.9	−0.028%	$5.00B	$5.77B	500x	as long as short
Binance BTCUSDT	+0.0097%	8h	85,488.5	−0.019%	$9.45B	$24.92B	150x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	85,466	−0.046%	$236K	$8.6M	50x	as long as short
Paradex BTC-USD-PERP	+0.0100%	8h	85,542.4	+0.044%	$5.8M	$9.6M	50x	as long as short
Hyperliquid BTC	+0.0100%	1h	85,570	+0.076%	$3.76B	$5.09B	40x	as long as short
Pacifica BTC	+0.0100%	1h	85,521.4	+0.019%	$40.0M	$598.7M	50x	as long as short
Bybit BTCUSDT	+0.0100%	8h	85,487.3	−0.021%	$5.15B	$9.98B	150x	as long as short
OKX BTC-USDT-SWAP	+0.0100%	8h	85,498.7	−0.007%	$2.59B	$12.26B	100x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	85,494	−0.013%	$3.8M	$17.4M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	85,492.3	−0.015%	$4.6M	$98.8M	40x	as long as short
Bulk BTC-USD	+0.0100%	1h	85,501.7	−0.004%	$682.6M	$531.9M	40x	as long as short
Gate BTC_USDT	+0.0100%	8h	85,490.9	−0.016%	$5.51B	$11.10B	200x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	85,481.8	−0.027%	$36.6M	$178.7M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	85,535.9	+0.036%	$155.0M	$560.6M	—	as long as short
edgeX BTCUSDC	+0.0100%	4h	85,505.3	0.000%	$280.0M	$952.5M	100x	as long as short
GRVT BTC_USDT_Perp	+0.0100%	8h	85,535.3	+0.035%	$214.9M	$167.4M	50x	as long as short
ApeX Omni BTCUSDT	+0.0100%	1h	85,531.6	+0.031%	$139.8M	$314.5M	100x	as long as short
StandX BTC-USD	+0.0100%	1h	85,542	+0.043%	$30.2M	$207.2M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	85,572.3	+0.079%	—	$10.9M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	85,500	−0.006%	$11.0M	$14.5M	50x	as long as short
Bullet BTC-USDlong	+0.0100%	1h	85,505	long leg	$204K	$3.3M	20x
Orderly PERP_BTC_USDC	+0.0100%	8h	85,517.2	+0.014%	$2.6M	$9.8M	100x	as long as short
Bluefin BTC-PERP	+0.0100%	1h	85,537.3	+0.038%	$194K	$795K	40x	as long as short
Derive BTC-PERP	+0.0100%	1h	85,485	−0.023%	$30.0M	$48.0M	15x	as long as short
SunX BTC-USDT	+0.0100%	8h	85,479.1	−0.030%	$2.9M	$6.1M	100x	as long as short
SoDEX BTC-USD	+0.0100%	1h	85,490	−0.018%	$59.8M	$336.3M	40x	as long as short
HTX BTC-USDT	+0.0100%	8h	85,493.1	−0.014%	$2.26B	$942.4M	200x	as long as short
Extended BTC-USD	+0.0104%	1h	85,464.4	−0.047%	$44.5M	$240.6M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0048%	1h	85,526.6	+0.025%	—	$106.8M	500x	as long as short
Reya BTCRUSDPERP	+0.0120%	1h	85,496.3	−0.010%	$6.6M	$147.6M	40x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0176% / S −0.0151%	1h	85,513.5	+0.010%	$13.1M	—	200x	as long as short
Kalshi KXBTCPERP	+0.0211%	8h	85,533	+0.033%	$11.4M	$743.6M	6.4x	as long as short
Aftermath Perps BTCUSD	+0.0233%	1h	85,552.4	+0.055%	$79K	$228K	20x	as long as short
Hibachi BTC/USDT-P	+0.0240%	1h	85,566	+0.071%	$694K	$8.0M	30x	as long as short
RISEx BTC/USDCshort	+0.0257%	1h	85,511.1	+0.007%	$8.8M	$43.2M	25x