BTC

Alert: funding

Alert: spread

Funding you earn now, next payment 21:00 UTC−0.0120%/8h= −13.1% APRnext payment −$0.15 per $10,000 · paid last 24h −0.041%

Price spread now: 01 Exchange against Coinbase International−0.008%7-day average −0.025% · 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−$17as in the Price arb table

costs, in and out, $10k−$190.187% of the position

Long on Coinbase International Short on 01 Exchange

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.104%−$10 on $10k

Price spread, last 3 days (all we have)+0.037%+$4 · spread now −0.008%, 7d avg −0.025%

Together, before fees−0.067%−$7 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.025%, so right now this pair is about funding alone: −$4 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International BTC-PERP-INTX	86,619.6	0.0120	pay 0.0015% / 1h	0m 21s	$131.9M	$5.82B	50x
Short	01 Exchange BTCUSD	86,612.9	0	get 0.0000% / 1h	0m 21s	$360K	$2.4M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

01 Exchange 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 01 ExchangebpOrdersPrice spread, now −0.008%Rate

Funding earned: −$25.2
Price spread: −0.008% → −0.025%: $1.76
Slippage, 4 orders: −$1.66
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee 01 Exchange: 3.5 bp × 2 orders: −$7
Net: −$42.1
Costs to cover: 0.187%
Break-even: never at this rate

Slippage from Coinbase International: live order book, 4 min ago; 01 Exchange: live order book, 4 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, 4 min ago	0.01 bp	5.0 bp −$5	5.1 bp −$51	6.2 bp −$619	14.0 bp −$7,010
Sell 01 Exchange live order book, 4 min ago	0.01 bp	3.7 bp −$4	9.1 bp −$91	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
Aftermath Perps BTCUSD	−0.0248%	1h	86,615.5	−0.005%	$81K	$193K	20x	as long as short
Perpl BTC	−0.0223%	43m	86,606.5	−0.015%	$425K	$24.5M	6.7x	as long as short
Phoenix BTC	−0.0103%	1h	86,561	−0.068%	$2.2M	$12.4M	40x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	86,582	−0.043%	$9K	$3K	50x	as long as short
dYdX BTC-USD	−0.0066%	1h	86,591.4	−0.033%	$17.6M	$20.6M	50x	as long as short
Aster BTCUSDT	−0.0003%	8h	86,575.4	−0.051%	$505.5M	$1.16B	200x	as long as short
01 Exchange BTCUSDshort	0.0000%	1h	86,612.9	−0.008%	$360K	$2.4M	50x
Deribit BTC-PERPETUAL	0.0000%	1h	86,599.6	−0.023%	$927.6M	$1.47B	50x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0005% / S −0.0004%	1h	86,611.2	−0.010%	$36.8M	—	200x	as long as short
KuCoin XBTUSDTM	+0.0005%	8h	86,575	−0.051%	$850.0M	$709.7M	125x	as long as short

Show all 56 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Reya BTCRUSDPERP	+0.0022%	1h	86,580.9	−0.045%	$6.7M	$144.6M	40x	as long as short
BingX BTC-USDC	+0.0030%	8h	86,577.3	−0.049%	—	$15.4M	—	as long as short
Phemex BTCUSDT	+0.0032%	8h	86,569.9	−0.057%	$149.6M	$472.6M	150x	as long as short
Bitget BTCUSDT	+0.0038%	8h	86,583.3	−0.042%	$2.95B	$5.09B	150x	as long as short
Injective BTC/USDC PERP	+0.0049%	1h	86,614	−0.006%	$315K	$26.8M	52x	as long as short
Aevo BTC-PERP	+0.0056%	1h	86,586.4	−0.038%	$2.4M	$1.3M	20x	as long as short
MEXC BTC_USDT	+0.0058%	8h	86,584.7	−0.040%	$5.18B	$5.73B	500x	as long as short
Binance BTCUSDT	+0.0059%	8h	86,584.7	−0.040%	$9.42B	$24.38B	150x	as long as short
RISEx BTC/USDC	+0.0063%	1h	86,601.3	−0.021%	$8.5M	$43.2M	25x	as long as short
Gate BTC_USDT	+0.0081%	8h	86,587.1	−0.038%	$5.85B	$10.72B	200x	as long as short
Bybit BTCUSDT	+0.0086%	8h	86,592.4	−0.031%	$5.28B	$9.74B	150x	as long as short
Lighter BTC	+0.0096%	1h	86,594.6	−0.029%	$172.1M	$1.02B	50x	as long as short
Lighter RH BTC	+0.0096%	1h	86,610.4	−0.011%	$24.1M	$154.5M	50x	as long as short
Popdex BTCUSDT	+0.0096%	1h	86,588	−0.036%	$8.5M	$52.3M	100x	as long as short
OKX BTC-USDT-SWAP	+0.0099%	8h	86,589.9	−0.034%	$2.55B	$12.73B	100x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	86,578	−0.048%	$201K	$6.9M	50x	as long as short
Paradex BTC-USD-PERP	+0.0100%	8h	86,639.8	+0.023%	$4.8M	$8.3M	50x	as long as short
Nado BTC-PERP	+0.0100%	1h	86,585.1	−0.040%	$21.7M	$235.0M	50x	as long as short
Hyperliquid BTC	+0.0100%	1h	86,656	+0.042%	$3.81B	$5.11B	40x	as long as short
Pacifica BTC	+0.0100%	1h	86,622.8	+0.004%	$40.9M	$498.0M	50x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	86,595	−0.028%	$3.9M	$18.6M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	86,662.8	+0.050%	$7.4M	$94.2M	40x	as long as short
Bulk BTC-USD	+0.0100%	1h	86,590.2	−0.034%	$572.1M	$20.3M	40x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	86,590	−0.034%	$38.1M	$151.3M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	86,596.1	−0.027%	$159.3M	$566.2M	—	as long as short
edgeX BTCUSDC	+0.0100%	4h	86,553.8	−0.076%	$279.5M	$942.6M	100x	as long as short
GRVT BTC_USDT_Perp	+0.0100%	8h	86,562.1	−0.066%	$217.2M	$185.3M	50x	as long as short
ApeX Omni BTCUSDT	+0.0100%	1h	86,565.5	−0.063%	$141.5M	$323.0M	100x	as long as short
StandX BTC-USD	+0.0100%	1h	86,588.3	−0.036%	$30.7M	$203.4M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	86,642.1	+0.026%	—	$11.6M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	86,600	−0.023%	$11.1M	$13.8M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	86,591	−0.033%	$190K	$3.4M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	86,598.5	−0.024%	$2.5M	$8.6M	100x	as long as short
Bluefin BTC-PERP	+0.0100%	1h	86,613	−0.008%	$140K	$619K	40x	as long as short
Derive BTC-PERP	+0.0100%	1h	86,588.9	−0.035%	$30.0M	$61.7M	15x	as long as short
SunX BTC-USDT	+0.0100%	8h	86,588.1	−0.036%	$3.4M	$5.5M	100x	as long as short
SoDEX BTC-USD	+0.0100%	1h	86,565	−0.063%	$60.5M	$336.7M	40x	as long as short
HTX BTC-USDT	+0.0100%	8h	86,583.3	−0.042%	$2.30B	$960.5M	200x	as long as short
Extended BTC-USD	+0.0104%	1h	86,554.7	−0.075%	$46.4M	$226.7M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0048%	1h	86,623.4	+0.004%	—	$98.9M	500x	as long as short
Kraken Futures PF_XBTUSD	+0.0117%	1h	86,590.1	−0.034%	$187.0M	$934.9M	100x	as long as short
Coinbase International BTC-PERP-INTXlong	+0.0120%	1h	86,619.6	long leg	$131.9M	$5.82B	50x
Hibachi BTC/USDT-P	+0.0160%	1h	86,622.8	+0.004%	$774K	$8.1M	30x	as long as short
Kalshi KXBTCPERP	+0.0176%	8h	86,635	+0.018%	$9.6M	$727.2M	6.4x	as long as short
BloFin BTC-USDT	+0.0179%	8h	86,596.9	−0.026%	$416.9M	$655.7M	150x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0180% / S −0.0209%	1h	86,607.1	−0.014%	$15.0M	—	200x	as long as short