BTC

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0081%/8h= +8.8% APRnext payment +$0.10 per $10,000 · paid last 24h −0.002%

Price spread now: Aftermath Perps against Coinbase International−0.125%7-day average −0.020% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$40as in the Price arb table

costs, in and out, $10k−$290.293% of the position

Long on Coinbase International Short on Aftermath Perps

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.019%+$2 on $10k

Price spread, last 4 days (all we have)+0.316%+$32 · spread now −0.125%, 7d avg −0.020%

Together, before fees+0.334%+$33 on $10k · with fees, hour by hour

Funding pays, the price is against you. Aftermath Perps is 0.105% cheaper against Coinbase International than usual: you would sell low and buy high (spread −0.125% now, against its 7-day average of −0.020%). If the spread goes back, that is −$11 on $10k: about 4.4 days of funding at the current rate (+$2 a day). At the pace of the last 3 days (+0.019% in total) that is about 19 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International BTC-PERP-INTX	85,736.2	0.0112	pay 0.0014% / 1h	32m 43s	$130.7M	$5.11B	50x
Short	Aftermath Perps BTCUSD	85,629.2	0.0193	get 0.0024% / 1h	32m 43s	$78K	$219K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aftermath Perps against Coinbase International. 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 Coinbase InternationalbpFee Aftermath PerpsbpOrdersPrice spread, now −0.125%Rate

Funding earned: $16.91
Price spread: −0.125% → −0.020%: −$10.52
Slippage, 4 orders: −$10.3
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Aftermath Perps: 4.5 bp × 2 orders: −$9
Net: −$22.91
Costs to cover: 0.293%
Break-even: 16.5 days

Slippage from Coinbase International: live order book, 1 min ago; Aftermath Perps: live order book, 31 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 Coinbase International live order book, 1 min ago	0.01 bp	5.0 bp −$5	5.0 bp −$50	5.3 bp −$530	13.3 bp −$6,668
Sell Aftermath Perps live order book, 31 min ago	1.00 bp	9.9 bp −$10	doesn't fit	doesn't fit	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
Phoenix BTC	−0.0160%	1h	85,662	−0.087%	$2.2M	$10.3M	40x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	85,712	−0.028%	$8K	$3K	50x	as long as short
01 Exchange BTCUSD	−0.0048%	1h	85,685.6	−0.059%	$370K	$2.3M	50x	as long as short
BloFin BTC-USDT	−0.0034%	8h	85,695.3	−0.048%	$416.8M	$664.2M	150x	as long as short
dYdX BTC-USD	0.0000%	1h	85,685.8	−0.059%	$16.8M	$21.0M	50x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0004% / S −0.0004%	1h	85,701.5	−0.040%	$36.6M	—	200x	as long as short
Bluefin BTC-PERP	+0.0010%	1h	85,726.5	−0.011%	$196K	$722K	40x	as long as short
Nado BTC-PERP	+0.0011%	1h	85,695.9	−0.047%	$22.9M	$221.3M	50x	as long as short
KuCoin XBTUSDTM	+0.0011%	8h	85,684.2	−0.061%	$918.3M	$753.0M	125x	as long as short
Aster BTCUSDT	+0.0019%	8h	85,686.5	−0.058%	$516.3M	$1.11B	200x	as long as short

Show all 56 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX BTC-USDT	+0.0054%	8h	85,706.4	−0.035%	—	$1.53B	—	as long as short
Bitget BTCUSDT	+0.0068%	8h	85,699.9	−0.042%	$2.95B	$5.02B	150x	as long as short
Reya BTCRUSDPERP	+0.0068%	1h	85,692.9	−0.050%	$6.7M	$146.4M	40x	as long as short
HTX BTC-USDT	+0.0070%	8h	85,690.8	−0.053%	$2.27B	$935.3M	200x	as long as short
Injective BTC/USDC PERP	+0.0079%	1h	85,578	−0.185%	$340K	$26.9M	52x	as long as short
Phemex BTCUSDT	+0.0080%	8h	85,691.9	−0.052%	$147.9M	$479.0M	150x	as long as short
Aevo BTC-PERP	+0.0080%	1h	85,686.5	−0.058%	$2.5M	$1.7M	20x	as long as short
SunX BTC-USDT	+0.0083%	8h	85,675.7	−0.071%	$2.9M	$6.1M	100x	as long as short
MEXC BTC_USDT	+0.0086%	8h	85,699	−0.043%	$5.05B	$5.62B	500x	as long as short
Deribit BTC-PERPETUAL	+0.0087%	1h	85,733.2	−0.003%	$892.7M	$1.52B	50x	as long as short
Binance BTCUSDT	+0.0087%	8h	85,701.3	−0.041%	$9.36B	$23.91B	150x	as long as short
Lighter BTC	+0.0096%	1h	85,703.4	−0.038%	$170.2M	$989.5M	50x	as long as short
Lighter RH BTC	+0.0096%	1h	85,712.1	−0.028%	$23.9M	$148.2M	50x	as long as short
Popdex BTCUSDT	+0.0096%	1h	85,704	−0.038%	$8.4M	$52.0M	100x	as long as short
Paradex BTC-USD-PERP	+0.0099%	8h	85,738.7	+0.003%	$3.8M	$8.2M	50x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	85,673	−0.074%	$196K	$7.8M	50x	as long as short
Hyperliquid BTC	+0.0100%	1h	85,772	+0.042%	$3.78B	$4.94B	40x	as long as short
Pacifica BTC	+0.0100%	1h	85,728.8	−0.009%	$40.5M	$573.5M	50x	as long as short
Bybit BTCUSDT	+0.0100%	8h	85,708.6	−0.032%	$5.34B	$9.58B	150x	as long as short
OKX BTC-USDT-SWAP	+0.0100%	8h	85,713	−0.027%	$2.57B	$12.12B	100x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	85,705	−0.036%	$3.9M	$18.0M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	85,662.5	−0.086%	$7.2M	$96.9M	40x	as long as short
Gate BTC_USDT	+0.0100%	8h	85,707.7	−0.033%	$5.56B	$10.50B	200x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	85,692.2	−0.051%	$35.5M	$172.5M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	85,622.5	−0.133%	$155.0M	$548.4M	—	as long as short
edgeX BTCUSDC	+0.0100%	4h	85,599.5	−0.159%	$279.3M	$929.9M	100x	as long as short
GRVT BTC_USDT_Perp	+0.0100%	8h	85,645.6	−0.106%	$214.9M	$166.3M	50x	as long as short
ApeX Omni BTCUSDT	+0.0100%	1h	85,618.1	−0.138%	$140.2M	$316.2M	100x	as long as short
StandX BTC-USD	+0.0100%	1h	85,651	−0.099%	$30.3M	$210.5M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	85,735.6	−0.001%	—	$11.8M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	85,691	−0.053%	$11.0M	$14.1M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	85,700	−0.042%	$189K	$3.3M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	85,693.2	−0.050%	$2.3M	$8.8M	100x	as long as short
Derive BTC-PERP	+0.0100%	1h	85,685.6	−0.059%	$30.0M	$52.6M	15x	as long as short
SoDEX BTC-USD	+0.0100%	1h	85,696	−0.047%	$60.0M	$336.2M	40x	as long as short
Bulk BTC-USD	+0.0100%	1h	85,614.4	−0.142%	$621.3M	$398.6M	40x	as long as short
Extended BTC-USD	+0.0104%	1h	85,676.8	−0.069%	$44.1M	$227.3M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0056%	1h	85,683.7	−0.061%	—	$105.9M	500x	as long as short
Coinbase International BTC-PERP-INTXlong	+0.0112%	1h	85,736.2	long leg	$130.7M	$5.11B	50x
RISEx BTC/USDC	+0.0120%	1h	85,730.4	−0.007%	$8.4M	$42.3M	25x	as long as short
Kraken Futures PF_XBTUSD	+0.0138%	1h	85,721.5	−0.017%	$188.9M	$949.4M	100x	as long as short
Aftermath Perps BTCUSDshort	+0.0193%	1h	85,629.2	−0.125%	$78K	$219K	20x
Hibachi BTC/USDT-P	+0.0200%	1h	85,683.2	−0.062%	$701K	$7.9M	30x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0203% / S −0.0180%	1h	85,700	−0.042%	$13.6M	—	200x	as long as short
Kalshi KXBTCPERP	+0.0215%	8h	85,712	−0.028%	$10.5M	$760.2M	6.4x	as long as short
Perpl BTC	+0.0447%	43m	85,682	−0.063%	$519K	$19.4M	6.7x	as long as short