Funding you earn now, next payment 00:00 UTC+0.0180%/8h= +19.7% APRnext payment +$0.23 per $10,000 · paid last 24h +0.050%
Price spread now: Bulk against Hotstuff+0.054%7-day average — · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 3 days (all we have)—no history yet
+Price spread, last 7 days—no price history on both exchanges yet
=Both sides work for this trade now. Funding pays +$5 a day on $10k at the current rate, and Bulk is 0.054% dearer against Hotstuff than usual: you sell high and buy low: +$5 more if the spread goes back to zero (this spread has no 7-day history yet).
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Hotstuff BTC-PERP | 86,514 | −0.0080 | get 0.0010% / 1h | 49m 07s | $9K | $3K | 50x |
| Short | Bulk BTC-USD | 86,560.7 | 0.0100 | get 0.0013% / 1h | 49m 07s | $572.5M | $17.8M | 40x |
Hotstuff BTC-PERP
Bulk BTC-USDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Bulk against Hotstuff. 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
- $37.8
- Price spread: +0.054% → 0.000%
- $5.4
- Slippage, 4 orders
- no order book: not counted
- Fee Hotstuff: 2.5 bp × 2 orders
- −$5
- Fee Bulk: 3.5 bp × 2 orders
- −$7
- Net
- $31.2
- Costs to cover
- 0.120%
- Break-even
- 1.2 days
Slippage unknown: Hotstuff: no order-book sample; Bulk: live order book, 5 min ago. Net counts fees only.
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 Hotstuff no order-book sample | — | — | — | — | — |
| Sell Bulk live order book, 5 min ago | 0.03 bp | 3.5 bp −$4 | 3.5 bp −$35 | 4.1 bp −$409 | 5.1 bp −$2,538 |
Hotstuff: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.
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 | |
|---|---|---|---|---|---|---|---|---|
| Phoenix BTC | −0.0118% | 1h | 86,505 | −0.010% | $2.2M | $11.8M | 40x | as long as short |
| Hotstuff BTC-PERPlong | −0.0080% | 1h | 86,514 | long leg | $9K | $3K | 50x | |
| Injective BTC/USDC PERP | −0.0035% | 1h | 86,601 | +0.101% | $333K | $26.8M | 52x | as long as short |
| RISEx BTC/USDC | −0.0024% | 1h | 86,523.5 | +0.011% | $8.3M | $42.9M | 25x | as long as short |
| 01 Exchange BTCUSD | −0.0024% | 1h | 86,526.3 | +0.014% | $358K | $2.5M | 50x | as long as short |
| Aster BTCUSDT | −0.0002% | 8h | 86,548.4 | +0.040% | $502.4M | $1.15B | 200x | as long as short |
| Deribit BTC-PERPETUAL | 0.0000% | 1h | 86,546.7 | +0.038% | $916.5M | $1.49B | 50x | as long as short |
| gTrade (Gains Network) BTC/USD | L +0.0005% / S −0.0004% | 1h | 86,537 | +0.027% | $36.9M | — | 200x | as long as short |
| KuCoin XBTUSDTM | +0.0010% | 8h | 86,514.9 | +0.001% | $850.0M | $714.4M | 125x | as long as short |
| Reya BTCRUSDPERP | +0.0025% | 1h | 86,510.6 | −0.004% | $6.7M | $145.3M | 40x | as long as short |
Phoenix BTC
Injective BTC/USDC PERP
RISEx BTC/USDC
01 Exchange BTCUSD
Aster BTCUSDT
Deribit BTC-PERPETUAL
gTrade (Gains Network) BTC/USD
KuCoin XBTUSDTM
Reya BTCRUSDPERPShow all 56 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| dYdX BTC-USD | +0.0037% | 1h | 86,542.1 | +0.033% | $17.0M | $21.1M | 50x | as long as short |
| BingX BTC-USDC | +0.0041% | 8h | 86,505.1 | −0.010% | — | $15.4M | — | as long as short |
| Phemex BTCUSDT | +0.0044% | 8h | 86,523.6 | +0.011% | $149.8M | $479.6M | 150x | as long as short |
| Bitget BTCUSDT | +0.0052% | 8h | 86,517.9 | +0.005% | $2.96B | $5.12B | 150x | as long as short |
| MEXC BTC_USDT | +0.0071% | 8h | 86,519.1 | +0.006% | $5.16B | $5.63B | 500x | as long as short |
| Binance BTCUSDT | +0.0072% | 8h | 86,522.1 | +0.009% | $9.43B | $24.54B | 150x | as long as short |
| Aevo BTC-PERP | +0.0072% | 1h | 86,513.1 | −0.001% | $2.4M | $1.3M | 20x | as long as short |
| Gate BTC_USDT | +0.0082% | 8h | 86,525.3 | +0.013% | $5.88B | $10.72B | 200x | as long as short |
| Lighter BTC | +0.0096% | 1h | 86,528.1 | +0.016% | $170.3M | $1.01B | 50x | as long as short |
| Lighter RH BTC | +0.0096% | 1h | 86,538.1 | +0.028% | $24.1M | $151.2M | 50x | as long as short |
| Popdex BTCUSDT | +0.0096% | 1h | 86,510 | −0.005% | $8.5M | $52.5M | 100x | as long as short |
| Katana Perps BTC-USD | +0.0100% | 8h | 86,492 | −0.025% | $205K | $7.0M | 50x | as long as short |
| Paradex BTC-USD-PERP | +0.0100% | 8h | 86,540 | +0.030% | $4.8M | $8.6M | 50x | as long as short |
| Nado BTC-PERP | +0.0100% | 1h | 86,510.1 | −0.005% | $21.8M | $234.5M | 50x | as long as short |
| Hyperliquid BTC | +0.0100% | 1h | 86,592 | +0.090% | $3.79B | $5.11B | 40x | as long as short |
| Pacifica BTC | +0.0100% | 1h | 86,552.9 | +0.045% | $40.8M | $524.0M | 50x | as long as short |
| Bybit BTCUSDT | +0.0100% | 8h | 86,577.3 | +0.073% | $5.27B | $9.81B | 150x | as long as short |
| OKX BTC-USDT-SWAP | +0.0100% | 8h | 86,579.7 | +0.076% | $2.55B | $12.75B | 100x | as long as short |
| Ondo Perps BTC-USD.P | +0.0100% | 1h | 86,526 | +0.014% | $3.9M | $18.6M | 25x | as long as short |
| Arcus BTC-USD | +0.0100% | 1h | 86,548.6 | +0.040% | $7.6M | $95.0M | 40x | as long as short |
| Bulk BTC-USDshort | +0.0100% | 1h | 86,560.7 | +0.054% | $572.5M | $17.8M | 40x | |
| Backpack BTC_USDC_PERP | +0.0100% | 1h | 86,514 | 0.000% | $38.0M | $155.0M | 75x | as long as short |
| Variational Omni BTC | +0.0100% | 8h | 86,524.8 | +0.013% | $155.3M | $568.2M | — | as long as short |
| edgeX BTCUSDC | +0.0100% | 4h | 86,541.9 | +0.032% | $279.6M | $945.9M | 100x | as long as short |
| GRVT BTC_USDT_Perp | +0.0100% | 8h | 86,542.5 | +0.033% | $217.3M | $172.2M | 50x | as long as short |
| ApeX Omni BTCUSDT | +0.0100% | 1h | 86,541.7 | +0.032% | $141.4M | $323.6M | 100x | as long as short |
| StandX BTC-USD | +0.0100% | 1h | 86,538.5 | +0.028% | $30.7M | $204.5M | 40x | as long as short |
| Vest BTC-PERP | +0.0100% | 1h | 86,566.4 | +0.061% | — | $11.9M | 50x | as long as short |
| Polymarket Perps BTC-USD | +0.0100% | 1h | 86,513 | −0.001% | $11.1M | $13.8M | 50x | as long as short |
| Bullet BTC-USD | +0.0100% | 1h | 86,515 | +0.001% | $191K | $3.3M | 20x | as long as short |
| Orderly PERP_BTC_USDC | +0.0100% | 8h | 86,500.7 | −0.015% | $2.4M | $8.8M | 100x | as long as short |
| Bluefin BTC-PERP | +0.0100% | 1h | 86,523.4 | +0.011% | $140K | $663K | 40x | as long as short |
| Derive BTC-PERP | +0.0100% | 1h | 86,541.1 | +0.031% | $30.6M | $62.5M | 15x | as long as short |
| SunX BTC-USDT | +0.0100% | 8h | 86,501.6 | −0.014% | $3.4M | $5.4M | 100x | as long as short |
| SoDEX BTC-USD | +0.0100% | 1h | 86,513 | −0.001% | $60.5M | $337.6M | 40x | as long as short |
| HTX BTC-USDT | +0.0100% | 8h | 86,498.4 | −0.018% | $2.30B | $969.6M | 200x | as long as short |
| Aftermath Perps BTCUSD | +0.0103% | 1h | 86,546.4 | +0.037% | $79K | $220K | 20x | as long as short |
| Extended BTC-USD | +0.0104% | 1h | 86,490.8 | −0.027% | $45.4M | $226.8M | 50x | as long as short |
| Jupiter Perps WBTC-PERP | L +0.0104% / S +0.0048% | 1h | 86,537.6 | +0.027% | — | $99.1M | 500x | as long as short |
| Kraken Futures PF_XBTUSD | +0.0110% | 1h | 86,554.1 | +0.046% | $193.5M | $951.0M | 100x | as long as short |
| Perpl BTC | +0.0112% | 43m | 86,540.8 | +0.031% | $416K | $23.3M | 6.7x | as long as short |
| Coinbase International BTC-PERP-INTX | +0.0112% | 1h | 86,570.9 | +0.066% | $132.6M | $5.68B | 50x | as long as short |
| Hibachi BTC/USDT-P | +0.0176% | 1h | 86,578.4 | +0.074% | $722K | $8.0M | 30x | as long as short |
| GMX BTC/USD [WBTC.b-USDC] | L +0.0191% / S −0.0214% | 1h | 86,533.8 | +0.023% | $15.1M | — | 200x | as long as short |
| BloFin BTC-USDT | +0.0192% | 8h | 86,519.3 | +0.006% | $414.3M | $658.1M | 150x | as long as short |
| Kalshi KXBTCPERP | +0.0205% | 8h | 86,546 | +0.037% | $9.8M | $740.8M | 6.4x | as long as short |
dYdX BTC-USD
BingX BTC-USDC
Phemex BTCUSDT
Bitget BTCUSDT
MEXC BTC_USDT
Binance BTCUSDT
Aevo BTC-PERP
Gate BTC_USDT
Lighter BTC
Lighter RH BTC
Popdex BTCUSDT
Katana Perps BTC-USD
Paradex BTC-USD-PERP
Nado BTC-PERP
Hyperliquid BTC
Pacifica BTC
Bybit BTCUSDT
OKX BTC-USDT-SWAP
Ondo Perps BTC-USD.P
Arcus BTC-USD
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
Bluefin BTC-PERP
Derive BTC-PERP
SunX BTC-USDT
SoDEX BTC-USD
HTX BTC-USDT
Aftermath Perps BTCUSD
Extended BTC-USD
Jupiter Perps WBTC-PERP
Kraken Futures PF_XBTUSD
Perpl BTC
Coinbase International BTC-PERP-INTX
Hibachi BTC/USDT-P
GMX BTC/USD [WBTC.b-USDC]
BloFin BTC-USDT
Kalshi KXBTCPERP