Settings8H · net · $10k
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Funding arb · Price arb /

BTC

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Alert: funding
Measured
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Checked every minute; it has to hold two checks in a row. Delivery to Telegram comes later, so for now alerts appear on the alerts page.

Alert: spread
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Checked every minute; it has to hold two checks in a row. Delivery to Telegram comes later, so for now alerts appear on the alerts page.

Funding you earn now, next payment 00:00 UTC+0.0074%/8h= +8.1% APRnext payment +$0.09 per $10,000 · paid last 24h −0.027%
Price spread now: Polymarket Perps against Deribit−0.044%48s7-day average −0.047% · you buy dearer than you sell
Net, funding: paid 7d − costs−$11as in the Funding arb table
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 DeribitShort on Polymarket Perps
What this pair did over the last
the charts below follow
Funding, last 7 days+0.049%+$5 on $10k
Price spread, last 3 days (all we have)+0.020%+$2 · spread now −0.044%, 7d avg −0.047%
Together, before fees+0.069%+$7 on $10k · with fees, hour by hour
The price spread sits at its 7-day average of −0.047%, so right now this pair is about funding alone: +$2 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.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongDeribit BTC-PERPETUAL86,422.60.0026pay 0.0003% / 1h25m 19s$914.5M$1.48B50x
ShortPolymarket Perps BTC-USD86,3850.0100get 0.0013% / 1h25m 19s$11.1M$13.9M50x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Polymarket Perps against Deribit. 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
$15.55
Price spread: −0.044% → −0.047%
$0.39
Slippage, 4 orders
−$1.35
Fee Deribit: 3.5 bp × 2 orders
−$7
Fee Polymarket Perps: 4 bp × 2 orders
−$8
Net
−$0.41
Costs to cover
0.164%
Break-even
7.2 days
Slippage from Deribit: live order book, 4 min ago; Polymarket Perps: live order book, 4 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 Deribit live order book, 4 min ago0.03 bp3.5 bp −$43.5 bp −$356.3 bp −$63412.8 bp −$6,419
Sell Polymarket Perps live order book, 4 min ago0.06 bp5.2 bp −$55.5 bp −$558.0 bp −$797doesn'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
Phoenix BTC−0.0118%1h86,430+0.009%$2.2M$11.8M40xas long as short
Hotstuff BTC-PERP−0.0080%1h86,384−0.045%$9K$3K50xas long as short
Injective BTC/USDC PERP−0.0035%1h86,568+0.168%$333K$26.8M52xas long as short
RISEx BTC/USDC−0.0024%1h86,392.7−0.035%$8.3M$42.8M25xas long as short
01 Exchange BTCUSD−0.0016%1h86,396.8−0.030%$359K$2.5M50xas long as short
Aster BTCUSDT−0.0001%8h86,391.2−0.036%$501.2M$1.15B200xas long as short
Perpl BTC0.0000%43m86,390.9−0.037%$415K$23.1M6.7xas long as short
gTrade (Gains Network) BTC/USDL +0.0005% / S −0.0004%1h86,406.9−0.018%$36.8M—200xas long as short
KuCoin XBTUSDTM+0.0017%8h86,385.6−0.043%$849.6M$715.7M125xas long as short
Deribit BTC-PERPETUALlong+0.0026%1h86,422.6long leg$914.5M$1.48B50x
Show all 56 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Reya BTCRUSDPERP+0.0032%1h86,387.9−0.040%$6.7M$145.5M40xas long as short
BingX BTC-USDC+0.0042%8h86,379.6−0.050%—$15.4M—as long as short
Bitget BTCUSDT+0.0051%8h86,384−0.045%$2.96B$5.13B150xas long as short
Phemex BTCUSDT+0.0053%8h86,396.4−0.030%$150.5M$478.5M150xas long as short
dYdX BTC-USD+0.0064%1h86,399.5−0.027%$16.9M$21.2M50xas long as short
MEXC BTC_USDT+0.0068%8h86,384.3−0.044%$5.16B$5.67B500xas long as short
Binance BTCUSDT+0.0069%8h86,384.3−0.044%$9.42B$24.58B150xas long as short
Aevo BTC-PERP+0.0072%1h86,409.5−0.015%$2.4M$1.3M20xas long as short
Gate BTC_USDT+0.0081%8h86,390−0.038%$5.85B$10.77B200xas long as short
SoDEX BTC-USD+0.0087%1h86,382−0.047%$60.3M$338.0M40xas long as short
Lighter BTC+0.0096%1h86,385.9−0.043%$170.4M$1.02B50xas long as short
Lighter RH BTC+0.0096%1h86,402.8−0.023%$23.9M$152.4M50xas long as short
Popdex BTCUSDT+0.0096%1h86,378−0.052%$8.4M$52.4M100xas long as short
Bybit BTCUSDT+0.0097%8h86,410.5−0.014%$5.26B$9.81B150xas long as short
Katana Perps BTC-USD+0.0100%8h86,356−0.077%$200K$7.1M50xas long as short
Paradex BTC-USD-PERP+0.0100%8h86,425.2+0.003%$4.8M$8.5M50xas long as short
Nado BTC-PERP+0.0100%1h86,391.8−0.036%$22.0M$234.5M50xas long as short
Hyperliquid BTC+0.0100%1h86,453+0.035%$3.79B$5.11B40xas long as short
Pacifica BTC+0.0100%1h86,417−0.007%$41.0M$529.8M50xas long as short
OKX BTC-USDT-SWAP+0.0100%8h86,429.1+0.007%$2.55B$12.73B100xas long as short
Ondo Perps BTC-USD.P+0.0100%1h86,392−0.035%$3.9M$18.6M25xas long as short
Arcus BTC-USD+0.0100%1h86,422.40.000%$7.5M$95.3M40xas long as short
Backpack BTC_USDC_PERP+0.0100%1h86,381.6−0.047%$38.2M$155.7M75xas long as short
Variational Omni BTC+0.0100%8h86,405.8−0.019%$157.3M$568.1M—as long as short
edgeX BTCUSDC+0.0100%4h86,448.6+0.030%$279.2M$945.2M100xas long as short
GRVT BTC_USDT_Perp+0.0100%8h86,418.1−0.005%$217.0M$171.6M50xas long as short
ApeX Omni BTCUSDT+0.0100%1h86,461.9+0.045%$141.4M$323.1M100xas long as short
StandX BTC-USD+0.0100%1h86,411−0.013%$30.6M$205.3M40xas long as short
Vest BTC-PERP+0.0100%1h86,433.5+0.013%—$11.9M50xas long as short
Polymarket Perps BTC-USDshort+0.0100%1h86,385−0.044%$11.1M$13.9M50x
Bullet BTC-USD+0.0100%1h86,386.7−0.042%$189K$3.3M20xas long as short
Orderly PERP_BTC_USDC+0.0100%8h86,411.7−0.013%$2.4M$9.3M100xas long as short
Bluefin BTC-PERP+0.0100%1h86,422.30.000%$140K$664K40xas long as short
Derive BTC-PERP+0.0100%1h86,420−0.003%$30.5M$62.6M15xas long as short
SunX BTC-USDT+0.0100%8h86,410.3−0.014%$3.4M$5.4M100xas long as short
HTX BTC-USDT+0.0100%8h86,375.1−0.055%$2.29B$969.5M200xas long as short
Bulk BTC-USD+0.0100%1h86,464.9+0.049%$572.1M$16.9M40xas long as short
Extended BTC-USD+0.0104%1h86,357.5−0.075%$45.5M$227.4M50xas long as short
Jupiter Perps WBTC-PERPL +0.0104% / S +0.0048%1h86,408−0.017%—$98.9M500xas long as short
Kraken Futures PF_XBTUSD+0.0110%1h86,410.8−0.014%$192.1M$954.6M100xas long as short
Coinbase International BTC-PERP-INTX+0.0112%1h86,431.1+0.010%$132.3M$5.65B50xas long as short
Aftermath Perps BTCUSD+0.0150%1h86,473.3+0.059%$78K$219K20xas long as short
Hibachi BTC/USDT-P+0.0184%1h86,443.5+0.024%$727K$8.0M30xas long as short
BloFin BTC-USDT+0.0189%8h86,446+0.027%$416.9M$658.5M150xas long as short
GMX BTC/USD [WBTC.b-USDC]L +0.0196% / S −0.0219%1h86,401.8−0.024%$15.0M—200xas long as short
Kalshi KXBTCPERP+0.0207%8h86,452+0.034%$9.7M$747.5M6.4xas long as short