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Funding arb · Price arb /

BTC

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Alert: funding
Measured
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Alert: spread
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Funding you earn now, next payment 23:00 UTC+0.0008%/8h= +0.9% APRpaid last 24h +0.002%
Price spread now: Polymarket Perps against Bybit+0.025%7-day average −0.011% · you sell dearer than you buy
Net, funding: paid 7d − costs−$13as in the Funding arb table
Net, price: spread back to 7d avg − costs−$16as in the Price arb table
costs, in and out, $10k−$200.201% of the position
Long on BybitShort on Polymarket Perps
What this pair did over the last
the charts below follow
Funding, last 7 days+0.072%+$7 on $10k
Price spread, last 7 days−0.026%−$3 · spread now +0.025%, 7d avg −0.011%
Together, before fees+0.047%+$5 on $10k · with fees, hour by hour
Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Polymarket Perps is 0.036% dearer against Bybit than usual: you sell high and buy low, +$4 on $10k if it goes back to its 7-day average of −0.011%.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongBybit BTCUSDT86,440.10.0092pay 0.0092% / 8h1h 17m$5.25B$9.77B150x
ShortPolymarket Perps BTC-USD86,4620.0100get 0.0013% / 1h17m 50s$11.1M$13.7M50x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Polymarket Perps against Bybit. 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

Funding earned
$1.67
Price spread: +0.025% → −0.011%
$3.64
Slippage, 4 orders
−$1.06
Fee Bybit: 5.5 bp × 2 orders
−$11
Fee Polymarket Perps: 4 bp × 2 orders
−$8
Net
−$14.75
Costs to cover
0.201%
Break-even
68.7 days
Slippage from Bybit: live order book, 1 min ago; Polymarket Perps: live order book, 6 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy Bybit live order book, 1 min ago0.01 bp5.5 bp −$65.5 bp −$556.2 bp −$6156.9 bp −$3,447
Sell Polymarket Perps live order book, 6 min ago0.06 bp4.1 bp −$44.3 bp −$436.1 bp −$612doesn't fit

BTC on 56 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Bluefin BTC-PERP−0.0827%1h86,494.4+0.063%$140K$620K40xas long as short
Phoenix BTC−0.0159%1h86,503+0.073%$2.2M$11.8M40xas long as short
Hotstuff BTC-PERP−0.0080%1h86,470+0.035%$9K$3K50xas long as short
Aster BTCUSDT−0.0010%8h86,449.8+0.011%$503.9M$1.15B200xas long as short
01 Exchange BTCUSD−0.0008%1h86,469.7+0.034%$358K$2.4M50xas long as short
Perpl BTC0.0000%43m86,476.2+0.042%$424K$23.7M6.7xas long as short
KuCoin XBTUSDTM+0.0002%8h86,445+0.006%$851.1M$711.6M125xas long as short
dYdX BTC-USD+0.0004%1h86,497.2+0.066%$17.0M$21.1M50xas long as short
Aftermath Perps BTCUSD+0.0005%1h86,525.7+0.099%$82K$217K20xas long as short
gTrade (Gains Network) BTC/USDL +0.0005% / S −0.0004%1h86,496.8+0.066%$36.8M—200xas long as short
Show all 56 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
RISEx BTC/USDC+0.0006%1h86,469.7+0.034%$8.5M$43.0M25xas long as short
Reya BTCRUSDPERP+0.0023%1h86,460.3+0.023%$6.7M$145.0M40xas long as short
Injective BTC/USDC PERP+0.0024%1h86,559+0.138%$315K$26.8M52xas long as short
Phemex BTCUSDT+0.0035%8h86,482.4+0.049%$149.9M$476.9M150xas long as short
BingX BTC-USDC+0.0035%8h86,440.6+0.001%—$15.3M—as long as short
Deribit BTC-PERPETUAL+0.0044%1h86,517.8+0.090%$921.0M$1.48B50xas long as short
Bitget BTCUSDT+0.0046%8h86,446.3+0.007%$2.95B$5.10B150xas long as short
MEXC BTC_USDT+0.0064%8h86,443.3+0.004%$5.13B$5.70B500xas long as short
Aevo BTC-PERP+0.0064%1h86,473+0.038%$2.4M$1.3M20xas long as short
Binance BTCUSDT+0.0064%8h86,454.8+0.017%$9.43B$24.42B150xas long as short
Gate BTC_USDT+0.0079%8h86,450.5+0.012%$5.84B$10.73B200xas long as short
Bybit BTCUSDTlong+0.0092%8h86,440.1long leg$5.25B$9.77B150x
Lighter BTC+0.0096%1h86,477.3+0.043%$170.5M$1.01B50xas long as short
Lighter RH BTC+0.0096%1h86,488.3+0.056%$24.1M$152.4M50xas long as short
Popdex BTCUSDT+0.0096%1h86,462+0.025%$8.5M$52.4M100xas long as short
Hibachi BTC/USDT-P+0.0096%1h86,517.3+0.089%$717K$8.2M30xas long as short
Katana Perps BTC-USD+0.0100%8h86,446+0.007%$205K$6.9M50xas long as short
Paradex BTC-USD-PERP+0.0100%8h86,521.4+0.094%$4.8M$8.5M50xas long as short
Nado BTC-PERP+0.0100%1h86,457.6+0.020%$22.0M$234.4M50xas long as short
Hyperliquid BTC+0.0100%1h86,516+0.088%$3.80B$5.09B40xas long as short
Pacifica BTC+0.0100%1h86,509.1+0.080%$40.8M$513.8M50xas long as short
OKX BTC-USDT-SWAP+0.0100%8h86,432.1−0.009%$2.54B$12.72B100xas long as short
Ondo Perps BTC-USD.P+0.0100%1h86,480+0.046%$3.9M$18.6M25xas long as short
Arcus BTC-USD+0.0100%1h86,534.4+0.109%$7.4M$94.2M40xas long as short
Bulk BTC-USD+0.0100%1h86,498.7+0.068%$571.7M$18.6M40xas long as short
Backpack BTC_USDC_PERP+0.0100%1h86,440.20.000%$37.8M$155.1M75xas long as short
Variational Omni BTC+0.0100%8h86,498.8+0.068%$156.2M$568.5M—as long as short
edgeX BTCUSDC+0.0100%4h86,531.2+0.105%$279.7M$948.9M100xas long as short
GRVT BTC_USDT_Perp+0.0100%8h86,518.2+0.090%$217.2M$175.8M50xas long as short
ApeX Omni BTCUSDT+0.0100%1h86,540.1+0.116%$141.5M$323.4M100xas long as short
StandX BTC-USD+0.0100%1h86,483+0.050%$30.7M$203.6M40xas long as short
Vest BTC-PERP+0.0100%1h86,514.2+0.086%—$11.6M50xas long as short
Polymarket Perps BTC-USDshort+0.0100%1h86,462+0.025%$11.1M$13.7M50x
Bullet BTC-USD+0.0100%1h86,482+0.048%$189K$3.3M20xas long as short
Orderly PERP_BTC_USDC+0.0100%8h86,487.5+0.055%$2.4M$8.7M100xas long as short
Derive BTC-PERP+0.0100%1h86,479.2+0.045%$30.4M$61.6M15xas long as short
SunX BTC-USDT+0.0100%8h86,454.2+0.016%$3.4M$5.4M100xas long as short
SoDEX BTC-USD+0.0100%1h86,481+0.047%$60.4M$337.2M40xas long as short
HTX BTC-USDT+0.0100%8h86,466.3+0.030%$2.30B$968.4M200xas long as short
Extended BTC-USD+0.0104%1h86,429.4−0.012%$45.5M$226.0M50xas long as short
Jupiter Perps WBTC-PERPL +0.0104% / S +0.0048%1h86,493.6+0.062%—$98.7M500xas long as short
Coinbase International BTC-PERP-INTX+0.0112%1h86,520.1+0.093%$131.8M$5.70B50xas long as short
Kraken Futures PF_XBTUSD+0.0121%1h86,504.3+0.074%$191.3M$943.6M100xas long as short
BloFin BTC-USDT+0.0184%8h86,473.9+0.039%$414.0M$654.4M150xas long as short
GMX BTC/USD [WBTC.b-USDC]L +0.0185% / S −0.0211%1h86,489.9+0.058%$15.2M—200xas long as short
Kalshi KXBTCPERP+0.0199%8h86,498+0.067%$9.8M$733.9M6.4xas long as short