BTC

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0058%/8h= +6.3% APRnext payment +$0.07 per $10,000 · paid last 24h −0.042%

Price spread now: SoDEX against Deribit−0.051%7-day average −0.055% · 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−$15as in the Price arb table

costs, in and out, $10k−$150.152% of the position

Long on Deribit Short on SoDEX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.046%−$5 on $10k

Price spread, last 3 days (all we have)+0.009%+$1 · spread now −0.051%, 7d avg −0.055%

Together, before fees−0.037%−$4 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.055%, so right now this pair is about funding alone: +$2 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit BTC-PERPETUAL	86,571.3	0	get 0.0000% / 1h	49m 23s	$925.6M	$1.47B	50x
Short	SoDEX BTC-USD	86,527	0.0058	get 0.0007% / 1h	49m 23s	$60.5M	$336.8M	40x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SoDEX 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

Position, each leg$Hold fordaysFee DeribitbpFee SoDEXbpOrdersPrice spread, now −0.051%Rate

Funding earned: $12.1
Price spread: −0.051% → −0.055%: $0.37
Slippage, 4 orders: −$0.17
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee SoDEX: 4 bp × 2 orders: −$8
Net: −$2.7
Costs to cover: 0.152%
Break-even: 8.6 days

Slippage from Deribit: live order book, 5 min ago; SoDEX: live order book, 5 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, 5 min ago	0.03 bp	3.5 bp −$4	3.5 bp −$35	6.2 bp −$622	12.0 bp −$6,005
Sell SoDEX live order book, 5 min ago	0.06 bp	4.1 bp −$4	4.1 bp −$41	4.9 bp −$489	40.9 bp −$20.4K

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	−0.0196%	1h	86,588.8	+0.020%	$79K	$199K	20x	as long as short
Phoenix BTC	−0.0159%	1h	86,601	+0.034%	$2.2M	$11.8M	40x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	86,529	−0.049%	$9K	$3K	50x	as long as short
dYdX BTC-USD	−0.0023%	1h	86,590.3	+0.022%	$17.6M	$20.2M	50x	as long as short
01 Exchange BTCUSD	−0.0008%	1h	86,552.8	−0.021%	$359K	$2.4M	50x	as long as short
Aster BTCUSDT	−0.0007%	8h	86,518.6	−0.061%	$505.1M	$1.15B	200x	as long as short
Perpl BTC	0.0000%	43m	86,550.1	−0.024%	$420K	$24.1M	6.7x	as long as short
Deribit BTC-PERPETUALlong	0.0000%	1h	86,571.3	long leg	$925.6M	$1.47B	50x
KuCoin XBTUSDTM	+0.0003%	8h	86,518.4	−0.061%	$850.6M	$709.4M	125x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0005% / S −0.0004%	1h	86,559	−0.014%	$36.8M	—	200x	as long as short

Show all 56 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
RISEx BTC/USDC	+0.0006%	1h	86,541.7	−0.034%	$8.6M	$43.3M	25x	as long as short
Hibachi BTC/USDT-P	+0.0016%	1h	86,573.2	+0.002%	$731K	$8.1M	30x	as long as short
Reya BTCRUSDPERP	+0.0022%	1h	86,522.9	−0.056%	$6.7M	$144.7M	40x	as long as short
Injective BTC/USDC PERP	+0.0024%	1h	86,587	+0.018%	$315K	$26.8M	52x	as long as short
Phemex BTCUSDT	+0.0026%	8h	86,530.3	−0.047%	$149.7M	$472.9M	150x	as long as short
BingX BTC-USDC	+0.0030%	8h	86,521.9	−0.057%	—	$15.4M	—	as long as short
Bitget BTCUSDT	+0.0039%	8h	86,534	−0.043%	$2.95B	$5.08B	150x	as long as short
Aevo BTC-PERP	+0.0056%	1h	86,531	−0.047%	$2.4M	$1.3M	20x	as long as short
SoDEX BTC-USDshort	+0.0058%	1h	86,527	−0.051%	$60.5M	$336.8M	40x
MEXC BTC_USDT	+0.0058%	8h	86,529.2	−0.049%	$5.18B	$5.62B	500x	as long as short
Binance BTCUSDT	+0.0059%	8h	86,528.6	−0.049%	$9.42B	$24.36B	150x	as long as short
Gate BTC_USDT	+0.0083%	8h	86,523.6	−0.055%	$5.85B	$10.62B	200x	as long as short
Popdex BTCUSDT	+0.0088%	1h	86,530	−0.048%	$8.5M	$52.3M	100x	as long as short
Bybit BTCUSDT	+0.0088%	8h	86,532	−0.045%	$5.27B	$9.73B	150x	as long as short
Lighter BTC	+0.0096%	1h	86,541.1	−0.035%	$172.3M	$998.1M	50x	as long as short
Lighter RH BTC	+0.0096%	1h	86,549.2	−0.026%	$24.0M	$151.6M	50x	as long as short
Nado BTC-PERP	+0.0098%	1h	86,533.1	−0.044%	$21.7M	$233.7M	50x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	86,518	−0.062%	$204K	$6.8M	50x	as long as short
Paradex BTC-USD-PERP	+0.0100%	8h	86,564.1	−0.008%	$4.7M	$8.3M	50x	as long as short
Hyperliquid BTC	+0.0100%	1h	86,601	+0.034%	$3.81B	$5.09B	40x	as long as short
Pacifica BTC	+0.0100%	1h	86,569.1	−0.003%	$40.9M	$504.7M	50x	as long as short
OKX BTC-USDT-SWAP	+0.0100%	8h	86,537.9	−0.039%	$2.55B	$12.71B	100x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	86,534	−0.043%	$3.9M	$18.6M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	86,607	+0.041%	$7.4M	$93.9M	40x	as long as short
Bulk BTC-USD	+0.0100%	1h	86,527.4	−0.051%	$571.7M	$19.3M	40x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	86,531.4	−0.046%	$38.2M	$153.0M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	86,521.5	−0.058%	$156.7M	$571.1M	—	as long as short
edgeX BTCUSDC	+0.0100%	4h	86,522.6	−0.056%	$279.4M	$942.8M	100x	as long as short
GRVT BTC_USDT_Perp	+0.0100%	8h	86,535.2	−0.042%	$217.1M	$182.2M	50x	as long as short
ApeX Omni BTCUSDT	+0.0100%	1h	86,588.3	+0.020%	$141.5M	$322.9M	100x	as long as short
StandX BTC-USD	+0.0100%	1h	86,556	−0.018%	$30.7M	$203.1M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	86,584.1	+0.015%	—	$11.6M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	86,540	−0.036%	$11.1M	$13.6M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	86,533	−0.044%	$193K	$3.4M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	86,540.3	−0.036%	$2.4M	$8.6M	100x	as long as short
Bluefin BTC-PERP	+0.0100%	1h	86,558.9	−0.014%	$140K	$618K	40x	as long as short
Derive BTC-PERP	+0.0100%	1h	86,532.4	−0.045%	$30.0M	$61.6M	15x	as long as short
SunX BTC-USDT	+0.0100%	8h	86,527.7	−0.050%	$3.4M	$5.5M	100x	as long as short
HTX BTC-USDT	+0.0100%	8h	86,532.5	−0.045%	$2.30B	$959.0M	200x	as long as short
Extended BTC-USD	+0.0104%	1h	86,515.2	−0.065%	$46.4M	$225.2M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0048%	1h	86,556.2	−0.017%	—	$98.8M	500x	as long as short
Coinbase International BTC-PERP-INTX	+0.0112%	1h	86,578.2	+0.008%	$131.7M	$5.77B	50x	as long as short
Kraken Futures PF_XBTUSD	+0.0121%	1h	86,564.6	−0.008%	$191.3M	$937.2M	100x	as long as short
BloFin BTC-USDT	+0.0179%	8h	86,545.5	−0.030%	$415.3M	$655.0M	150x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0180% / S −0.0210%	1h	86,549.4	−0.025%	$15.0M	—	200x	as long as short
Kalshi KXBTCPERP	+0.0187%	8h	86,586	+0.017%	$9.7M	$726.3M	6.4x	as long as short