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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 01:00 UTC−0.0004%/8h= −0.4% APRnext payment −$0.00 per $10,000 · paid last 24h +0.001%
Price spread now: Polymarket Perps against Extended+0.069%7-day average +0.026% · you sell dearer than you buy
Net, funding: paid 7d − costs−$13as in the Funding arb table
Net, price: spread back to 7d avg − costs−$9as in the Price arb table
costs, in and out, $10k−$130.133% of the position
Long on ExtendedShort on Polymarket Perps
What this pair did over the last
the charts below follow
Funding, last 7 days+0.001%$0 on $10k
Price spread, last 7 days−0.056%−$6 · spread now +0.069%, 7d avg +0.026%
Together, before fees−0.055%+ Points / potential airdropExtended: Active · farm board−$6 on $10k · with fees, hour by hour
Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Polymarket Perps is 0.043% dearer against Extended than usual: you sell high and buy low, +$4 on $10k if it goes back to its 7-day average of +0.026%.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongExtended BTC-USD86,356.50.0104pay 0.0013% / 1h35m 45s$45.8M$222.3M50x
ShortPolymarket Perps BTC-USD86,4160.0100get 0.0013% / 1h35m 45s$11.1M$14.1M50x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Polymarket Perps against Extended. Falling: the short leg gains. Rising: it loses.
latest
Price spreadloading…

Funding on every exchange

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latest
How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Funding earned
−$0.84
Price spread: +0.069% → +0.026%
$4.28
Slippage, 4 orders
−$0.34
Fee Extended: 2.5 bp × 2 orders
−$5
Fee Polymarket Perps: 4 bp × 2 orders
−$8
Net
−$9.91
Costs to cover
0.133%
Break-even
never at this rate
Slippage from Extended: live order book, 3 min ago; Polymarket Perps: live order book, 3 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 Extended live order book, 3 min ago0.06 bp2.6 bp −$32.6 bp −$262.7 bp −$2668.7 bp −$4,363
Sell Polymarket Perps live order book, 3 min ago0.06 bp4.2 bp −$44.6 bp −$467.9 bp −$789doesn'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−0.0129%1h86,448+0.106%$2.2M$11.2M40xas long as short
Hotstuff BTC-PERP−0.0080%1h86,420+0.074%$9K$3K50xas long as short
01 Exchange BTCUSD−0.0032%1h86,430.7+0.086%$360K$2.4M50xas long as short
Bluefin BTC-PERP−0.0014%1h85,574.3−0.906%$143K$666K40xas long as short
Perpl BTC0.0000%43m86,444.1+0.101%$498K$21.8M6.7xas long as short
gTrade (Gains Network) BTC/USDL +0.0005% / S −0.0004%1h86,431.1+0.086%$36.9M—200xas long as short
Phemex BTCUSDT+0.0017%8h86,418.1+0.071%$154.0M$474.0M150xas long as short
Aster BTCUSDT+0.0021%8h86,374.9+0.021%$500.9M$1.14B200xas long as short
Injective BTC/USDC PERP+0.0023%1h86,430+0.085%$333K$26.9M52xas long as short
dYdX BTC-USD+0.0026%1h86,393.1+0.042%$16.9M$20.5M50xas long as short
Show all 56 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
KuCoin XBTUSDTM+0.0038%8h86,363.2+0.008%$830.6M$721.5M125xas long as short
Reya BTCRUSDPERP+0.0044%1h86,409+0.061%$6.7M$145.7M40xas long as short
BingX BTC-USDT+0.0050%8h86,358.9+0.003%—$1.58B—as long as short
RISEx BTC/USDC+0.0052%1h86,435.9+0.092%$8.3M$42.5M25xas long as short
Deribit BTC-PERPETUAL+0.0057%1h86,459.9+0.120%$903.2M$1.51B50xas long as short
Bitget BTCUSDT+0.0062%8h86,346.1−0.012%$2.97B$5.04B150xas long as short
MEXC BTC_USDT+0.0077%8h86,352.7−0.004%$5.13B$5.69B500xas long as short
Binance BTCUSDT+0.0078%8h86,354.3−0.003%$9.40B$24.32B150xas long as short
Aevo BTC-PERP+0.0080%1h86,396.5+0.046%$2.5M$1.7M20xas long as short
Lighter BTC+0.0096%1h86,366.5+0.012%$170.4M$984.9M50xas long as short
Lighter RH BTC+0.0096%1h86,384.6+0.033%$23.7M$149.1M50xas long as short
Popdex BTCUSDT+0.0096%1h86,418+0.071%$8.4M$52.0M100xas long as short
Katana Perps BTC-USD+0.0100%8h86,405+0.056%$203K$7.2M50xas long as short
Paradex BTC-USD-PERP+0.0100%8h86,395.6+0.045%$4.4M$8.6M50xas long as short
Nado BTC-PERP+0.0100%1h86,439.7+0.096%$21.9M$228.9M50xas long as short
Hyperliquid BTC+0.0100%1h86,441+0.098%$3.79B$4.99B40xas long as short
Pacifica BTC+0.0100%1h86,396.8+0.047%$40.7M$551.7M50xas long as short
Bybit BTCUSDT+0.0100%8h86,364.3+0.009%$5.25B$9.67B150xas long as short
OKX BTC-USDT-SWAP+0.0100%8h86,363.3+0.008%$2.56B$12.50B100xas long as short
Ondo Perps BTC-USD.P+0.0100%1h86,372+0.018%$3.9M$17.9M25xas long as short
Arcus BTC-USD+0.0100%1h86,383.8+0.032%$7.2M$95.0M40xas long as short
Bulk BTC-USD+0.0100%1h86,348−0.010%$573.1M$19.8M40xas long as short
Gate BTC_USDT+0.0100%8h86,374+0.020%$5.81B$10.52B200xas long as short
Backpack BTC_USDC_PERP+0.0100%1h86,409.3+0.061%$37.6M$155.5M75xas long as short
Variational Omni BTC+0.0100%8h86,400.1+0.050%$158.2M$561.5M—as long as short
edgeX BTCUSDC+0.0100%4h86,397.1+0.047%$279.1M$950.2M100xas long as short
GRVT BTC_USDT_Perp+0.0100%8h86,397.9+0.048%$217.0M$165.4M50xas long as short
ApeX Omni BTCUSDT+0.0100%1h86,396.8+0.047%$141.7M$322.0M100xas long as short
StandX BTC-USD+0.0100%1h86,386.3+0.034%$30.7M$208.9M40xas long as short
Vest BTC-PERP+0.0100%1h86,454.8+0.114%—$11.8M50xas long as short
Polymarket Perps BTC-USDshort+0.0100%1h86,416+0.069%$11.1M$14.1M50x
Bullet BTC-USD+0.0100%1h86,414.1+0.067%$193K$3.3M20xas long as short
Orderly PERP_BTC_USDC+0.0100%8h86,416.4+0.069%$2.4M$8.9M100xas long as short
Derive BTC-PERP+0.0100%1h86,447.5+0.105%$30.5M$58.9M15xas long as short
SunX BTC-USDT+0.0100%8h86,429+0.084%$3.4M$5.2M100xas long as short
SoDEX BTC-USD+0.0100%1h86,418+0.071%$60.4M$338.2M40xas long as short
HTX BTC-USDT+0.0100%8h86,395+0.045%$2.29B$964.8M200xas long as short
Extended BTC-USDlong+0.0104%1h86,356.5long leg$45.8M$222.3M50x
Jupiter Perps WBTC-PERPL +0.0104% / S +0.0048%1h86,439.6+0.096%—$98.9M500xas long as short
Coinbase International BTC-PERP-INTX+0.0120%1h86,462+0.122%$132.2M$5.44B50xas long as short
Kraken Futures PF_XBTUSD+0.0121%1h86,450.8+0.109%$192.3M$941.7M100xas long as short
Hibachi BTC/USDT-P+0.0160%1h86,395.8+0.045%$710K$8.0M30xas long as short
Aftermath Perps BTCUSD+0.0166%1h86,430.1+0.085%$78K$217K20xas long as short
BloFin BTC-USDT+0.0197%8h86,425.1+0.079%$416.3M$648.1M150xas long as short
GMX BTC/USD [WBTC.b-USDC]L +0.0204% / S −0.0218%1h86,428.1+0.083%$14.5M—200xas long as short
Kalshi KXBTCPERP+0.0210%8h86,455+0.114%$10.0M$761.6M6.4xas long as short