Funding you earn now, next payment 09:00 UTC−0.0165%/8h= −18.0% APRnext payment −$0.21 per $10,000 · paid last 24h −0.024%
Price spread now: Extended against Deribit−0.102%7-day average −0.080% · you buy dearer than you sell
Net, funding: paid 7d − costs−$9as in the Funding arb table
Net, price: spread back to 7d avg − costs−$15as in the Price arb table
costs, in and out, $10k−$120.125% of the position
Funding, last 7 days+0.036%+$4 on $10k
+Price spread, last 4 days (all we have)+0.175%+$17 · spread now −0.102%, 7d avg −0.080%
=Together, before fees+0.211%+ Points / potential airdropExtended: Active · farm board+$21 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$5 a day on $10k at the current rate, and Extended is 0.022% cheaper against Deribit than usual: you would sell low and buy high (−$2 if the spread goes back to its 7-day average of −0.080%). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Deribit BTC-PERPETUAL | 86,254.8 | 0.0269 | pay 0.0034% / 1h | 0m 17s | $838.4M | $1.61B | 50x |
| Short | Extended BTC-USD | 86,166.5 | 0.0104 | get 0.0013% / 1h | 0m 17s | $46.4M | $219.9M | 50x |
Deribit BTC-PERPETUAL
Extended BTC-USDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Extended against Deribit. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$34.59
- Price spread: −0.102% → −0.080%
- −$2.2
- Slippage, 4 orders
- −$0.45
- Fee Deribit: 3.5 bp × 2 orders
- −$7
- Fee Extended: 2.5 bp × 2 orders
- −$5
- Net
- −$49.25
- Costs to cover
- 0.125%
- Break-even
- never at this rate
Slippage from Deribit: live order book, 4 min ago; Extended: 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 Deribit live order book, 4 min ago | 0.03 bp | 3.5 bp −$4 | 3.5 bp −$35 | 4.5 bp −$449 | 9.6 bp −$4,803 |
| Sell Extended live order book, 4 min ago | 0.06 bp | 2.8 bp −$3 | 3.2 bp −$32 | 4.5 bp −$454 | 10.2 bp −$5,106 |
BTC on 55 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 | −0.0169% | 1h | 86,238.1 | −0.019% | $196K | $660K | 40x | as long as short |
| Hotstuff BTC-PERP | −0.0080% | 1h | 86,153 | −0.118% | $8K | $2K | 50x | as long as short |
| BloFin BTC-USDT | −0.0020% | 8h | 86,159.1 | −0.111% | $423.0M | $624.0M | 150x | as long as short |
| 01 Exchange BTCUSD | −0.0016% | 1h | 86,179.9 | −0.087% | $356K | $2.1M | 50x | as long as short |
| Injective BTC/USDC PERP | −0.0006% | 1h | 86,086 | −0.196% | $379K | $28.4M | 52x | as long as short |
| gTrade (Gains Network) BTC/USD | L +0.0004% / S −0.0004% | 1h | 86,207.1 | −0.055% | $36.9M | — | 200x | as long as short |
| dYdX BTC-USD | +0.0032% | 1h | 86,197.2 | −0.067% | $16.9M | $17.7M | 50x | as long as short |
| KuCoin XBTUSDTM | +0.0035% | 8h | 86,181.9 | −0.085% | $938.0M | $666.6M | 125x | as long as short |
| Bybit BTCUSDT | +0.0042% | 8h | 86,181 | −0.086% | $5.12B | $9.03B | 150x | as long as short |
| BingX BTC-USDT | +0.0045% | 8h | 86,189.2 | −0.076% | — | $1.45B | — | as long as short |
Bluefin BTC-PERP
Hotstuff BTC-PERP
BloFin BTC-USDT
01 Exchange BTCUSD
Injective BTC/USDC PERP
gTrade (Gains Network) BTC/USD
dYdX BTC-USD
KuCoin XBTUSDTM
Bybit BTCUSDT
BingX BTC-USDTShow all 55 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Aster BTCUSDT | +0.0049% | 8h | 86,189.3 | −0.076% | $504.4M | $972.0M | 200x | as long as short |
| Phemex BTCUSDT | +0.0067% | 8h | 86,190.6 | −0.074% | $167.9M | $497.4M | 150x | as long as short |
| Kraken Futures PF_XBTUSD | +0.0068% | 1h | 86,215.9 | −0.045% | $189.4M | $866.3M | 100x | as long as short |
| Phoenix BTC | +0.0075% | 1h | 86,213 | −0.048% | $2.3M | $10.4M | 40x | as long as short |
| Lighter BTC | +0.0096% | 1h | 86,204.2 | −0.059% | $173.7M | $970.1M | 50x | as long as short |
| Lighter RH BTC | +0.0096% | 1h | 86,210.6 | −0.051% | $23.4M | $138.1M | 50x | as long as short |
| Popdex BTCUSDT | +0.0096% | 1h | 86,182 | −0.084% | $8.8M | $52.4M | 100x | as long as short |
| Aevo BTC-PERP | +0.0096% | 1h | 86,182 | −0.084% | $2.4M | $6.7M | 20x | as long as short |
| SoDEX BTC-USD | +0.0099% | 1h | 86,190 | −0.075% | $60.3M | $257.8M | 40x | as long as short |
| Katana Perps BTC-USD | +0.0100% | 8h | 86,157 | −0.113% | $230K | $8.2M | 50x | as long as short |
| Paradex BTC-USD-PERP | +0.0100% | 8h | 86,199.7 | −0.064% | $6.1M | $8.6M | 50x | as long as short |
| Nado BTC-PERP | +0.0100% | 1h | 86,176.5 | −0.091% | $21.8M | $210.3M | 50x | as long as short |
| Pacifica BTC | +0.0100% | 1h | 86,197.2 | −0.067% | $40.3M | $585.4M | 50x | as long as short |
| Binance BTCUSDT | +0.0100% | 8h | 86,190.7 | −0.074% | $9.47B | $23.02B | 150x | as long as short |
| OKX BTC-USDT-SWAP | +0.0100% | 8h | 86,179 | −0.088% | $2.62B | $10.76B | 100x | as long as short |
| Ondo Perps BTC-USD.P | +0.0100% | 1h | 86,165 | −0.104% | $4.0M | $16.4M | 25x | as long as short |
| Arcus BTC-USD | +0.0100% | 1h | 86,202.9 | −0.060% | $4.7M | $93.6M | 40x | as long as short |
| Bulk BTC-USD | +0.0100% | 1h | 86,176.9 | −0.090% | $711.8M | $175.1M | 40x | as long as short |
| Gate BTC_USDT | +0.0100% | 8h | 86,193.2 | −0.071% | $5.48B | $10.34B | 200x | as long as short |
| MEXC BTC_USDT | +0.0100% | 8h | 86,190.6 | −0.074% | $5.10B | $5.92B | 500x | as long as short |
| Bitget BTCUSDT | +0.0100% | 8h | 86,193.4 | −0.071% | $2.99B | $4.53B | 150x | as long as short |
| Backpack BTC_USDC_PERP | +0.0100% | 1h | 86,143.8 | −0.129% | $37.6M | $187.9M | 75x | as long as short |
| Variational Omni BTC | +0.0100% | 8h | 86,123.1 | −0.153% | $158.4M | $509.2M | — | as long as short |
| edgeX BTCUSDC | +0.0100% | 4h | 86,267.1 | +0.014% | $289.9M | $986.6M | 100x | as long as short |
| GRVT BTC_USDT_Perp | +0.0100% | 8h | 86,243.6 | −0.013% | $216.7M | $143.1M | 50x | as long as short |
| ApeX Omni BTCUSDT | +0.0100% | 1h | 86,270.8 | +0.019% | $137.3M | $302.2M | 100x | as long as short |
| StandX BTC-USD | +0.0100% | 1h | 86,200.9 | −0.062% | $30.4M | $212.5M | 40x | as long as short |
| Vest BTC-PERP | +0.0100% | 1h | 86,253.7 | −0.001% | — | $10.5M | 50x | as long as short |
| Polymarket Perps BTC-USD | +0.0100% | 1h | 86,190 | −0.075% | $11.0M | $13.5M | 50x | as long as short |
| Bullet BTC-USD | +0.0100% | 1h | 86,193.6 | −0.071% | $206K | $3.3M | 20x | as long as short |
| Orderly PERP_BTC_USDC | +0.0100% | 8h | 86,195.1 | −0.069% | $2.6M | $9.5M | 100x | as long as short |
| SunX BTC-USDT | +0.0100% | 8h | 86,175.6 | −0.092% | $3.2M | $7.0M | 100x | as long as short |
| HTX BTC-USDT | +0.0100% | 8h | 86,163.9 | −0.105% | $2.28B | $911.0M | 200x | as long as short |
| Extended BTC-USDshort | +0.0104% | 1h | 86,166.5 | −0.102% | $46.4M | $219.9M | 50x | |
| Jupiter Perps WBTC-PERP | L +0.0104% / S +0.0048% | 1h | 86,187.1 | −0.079% | — | $93.4M | 500x | as long as short |
| Coinbase International BTC-PERP-INTX | +0.0112% | 1h | 86,239 | −0.018% | $112.7M | $5.26B | 50x | as long as short |
| Hyperliquid BTC | +0.0133% | 1h | 86,257 | +0.003% | $3.87B | $4.75B | 40x | as long as short |
| Reya BTCRUSDPERP | +0.0154% | 1h | 86,150.8 | −0.121% | $6.6M | $132.2M | 40x | as long as short |
| Kalshi KXBTCPERP | +0.0186% | 8h | 86,194 | −0.070% | $11.1M | $726.5M | 6.4x | as long as short |
| RISEx BTC/USDC | +0.0194% | 1h | 86,206.9 | −0.056% | $8.9M | $40.7M | 25x | as long as short |
| GMX BTC/USD [WBTC.b-USDC] | L +0.0200% / S −0.0185% | 1h | 86,193.4 | −0.071% | $13.3M | — | 200x | as long as short |
| Deribit BTC-PERPETUALlong | +0.0269% | 1h | 86,254.8 | long leg | $838.4M | $1.61B | 50x | |
| Hibachi BTC/USDT-P | +0.0280% | 1h | 86,238.2 | −0.019% | $697K | $7.4M | 30x | as long as short |
| Aftermath Perps BTCUSD | +0.0413% | 1h | 86,236.3 | −0.021% | $82K | $252K | 20x | as long as short |
| Perpl BTC | +0.0447% | 43m | 86,220.3 | −0.040% | $493K | $16.5M | 6.7x | as long as short |
Aster BTCUSDT
Phemex BTCUSDT
Kraken Futures PF_XBTUSD
Phoenix BTC
Lighter BTC
Lighter RH BTC
Popdex BTCUSDT
Aevo BTC-PERP
SoDEX BTC-USD
Katana Perps BTC-USD
Paradex BTC-USD-PERP
Nado BTC-PERP
Pacifica BTC
Binance BTCUSDT
OKX BTC-USDT-SWAP
Ondo Perps BTC-USD.P
Arcus BTC-USD
Bulk BTC-USD
Gate BTC_USDT
MEXC BTC_USDT
Bitget BTCUSDT
Backpack BTC_USDC_PERP
Variational Omni BTC
edgeX BTCUSDC
GRVT BTC_USDT_Perp
ApeX Omni BTCUSDT
StandX BTC-USD
Vest BTC-PERP
Polymarket Perps BTC-USD
Bullet BTC-USD
Orderly PERP_BTC_USDC
SunX BTC-USDT
HTX BTC-USDT
Jupiter Perps WBTC-PERP
Coinbase International BTC-PERP-INTX
Hyperliquid BTC
Reya BTCRUSDPERP
Kalshi KXBTCPERP
RISEx BTC/USDC
GMX BTC/USD [WBTC.b-USDC]
Hibachi BTC/USDT-P
Aftermath Perps BTCUSD
Perpl BTC