BTC

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0180%/8h= +19.7% APRnext payment +$0.23 per $10,000 · paid last 24h +0.054%

Price spread now: Bullet against Hotstuff−0.021%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Hotstuff Short on Bullet

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropHotstuff: Active · farm boardneeds both histories

Funding pays, the price is against you. Bullet is 0.021% cheaper against Hotstuff than usual: you would sell low and buy high (spread −0.021% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$2 on $10k: about 9 hours of funding at the current rate (+$5 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hotstuff BTC-PERP	85,785	−0.0080	get 0.0010% / 1h	12m 56s	$8K	$3K	50x
Short	Bullet BTC-USD	85,766.7	0.0100	get 0.0013% / 1h	12m 56s	$191K	$3.3M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bullet against Hotstuff. 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 HotstuffbpFee BulletbpOrdersPrice spread, now −0.021%Rate

Funding earned: $37.8
Price spread: −0.021% → 0.000%: −$2.13
Slippage, 4 orders: no order book: not counted
Fee Hotstuff: 2.5 bp × 2 orders: −$5
Fee Bullet: 4 bp × 2 orders: −$8
Net: $22.67
Costs to cover: 0.130%
Break-even: 2.8 days

Slippage unknown: Hotstuff: no order-book sample; Bullet: live order book, 1 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 Bullet live order book, 1 min ago	0.12 bp	4.7 bp −$5	7.5 bp −$75	doesn't fit	doesn't fit

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
Bluefin BTC-PERP	−0.0681%	1h	85,789.2	+0.005%	$196K	$721K	40x	as long as short
Phoenix BTC	−0.0160%	1h	85,753	−0.037%	$2.2M	$10.3M	40x	as long as short
Hotstuff BTC-PERPlong	−0.0080%	1h	85,785	long leg	$8K	$3K	50x
01 Exchange BTCUSD	−0.0040%	1h	85,774.5	−0.012%	$369K	$2.3M	50x	as long as short
BloFin BTC-USDT	−0.0032%	8h	85,743.9	−0.048%	$417.6M	$665.4M	150x	as long as short
dYdX BTC-USD	0.0000%	1h	85,797.8	+0.015%	$16.8M	$21.2M	50x	as long as short
KuCoin XBTUSDTM	+0.0004%	8h	85,728.5	−0.066%	$919.0M	$751.4M	125x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0005% / S −0.0004%	1h	85,774.6	−0.012%	$36.6M	—	200x	as long as short
Nado BTC-PERP	+0.0011%	1h	85,772.2	−0.015%	$22.6M	$219.5M	50x	as long as short
Aster BTCUSDT	+0.0019%	8h	85,763.9	−0.025%	$516.7M	$1.10B	200x	as long as short

Show all 56 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX BTC-USDC	+0.0056%	8h	85,750.5	−0.040%	—	$17.0M	—	as long as short
Bitget BTCUSDT	+0.0071%	8h	85,778.3	−0.008%	$2.96B	$5.02B	150x	as long as short
Reya BTCRUSDPERP	+0.0072%	1h	85,766.8	−0.021%	$6.7M	$146.5M	40x	as long as short
Injective BTC/USDC PERP	+0.0079%	1h	85,807	+0.026%	$341K	$26.9M	52x	as long as short
Aevo BTC-PERP	+0.0080%	1h	85,744.5	−0.047%	$2.5M	$1.7M	20x	as long as short
Phemex BTCUSDT	+0.0083%	8h	85,744.3	−0.047%	$148.8M	$479.8M	150x	as long as short
MEXC BTC_USDT	+0.0087%	8h	85,740	−0.052%	$5.07B	$5.64B	500x	as long as short
Binance BTCUSDT	+0.0088%	8h	85,768.3	−0.019%	$9.36B	$23.87B	150x	as long as short
HTX BTC-USDT	+0.0090%	8h	85,738.8	−0.054%	$2.27B	$935.9M	200x	as long as short
SoDEX BTC-USD	+0.0094%	1h	85,748	−0.043%	$60.0M	$336.2M	40x	as long as short
Lighter BTC	+0.0096%	1h	85,752.8	−0.038%	$174.9M	$1.00B	50x	as long as short
Lighter RH BTC	+0.0096%	1h	85,746.8	−0.045%	$23.9M	$149.4M	50x	as long as short
Popdex BTCUSDT	+0.0096%	1h	85,772	−0.015%	$8.4M	$52.2M	100x	as long as short
Paradex BTC-USD-PERP	+0.0100%	8h	85,813.4	+0.033%	$3.8M	$8.2M	50x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	85,744	−0.048%	$198K	$7.8M	50x	as long as short
Deribit BTC-PERPETUAL	+0.0100%	1h	85,785.8	+0.001%	$891.6M	$1.53B	50x	as long as short
Hyperliquid BTC	+0.0100%	1h	85,851	+0.077%	$3.75B	$4.98B	40x	as long as short
Pacifica BTC	+0.0100%	1h	85,805.4	+0.024%	$40.2M	$577.3M	50x	as long as short
Bybit BTCUSDT	+0.0100%	8h	85,776.9	−0.009%	$5.34B	$9.57B	150x	as long as short
OKX BTC-USDT-SWAP	+0.0100%	8h	85,780	−0.006%	$2.58B	$12.12B	100x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	85,755	−0.035%	$3.9M	$18.0M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	85,747.8	−0.043%	$6.8M	$97.5M	40x	as long as short
Bulk BTC-USD	+0.0100%	1h	85,800.8	+0.018%	$635.6M	$478.1M	40x	as long as short
Gate BTC_USDT	+0.0100%	8h	85,763.7	−0.025%	$5.56B	$10.56B	200x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	85,738.3	−0.054%	$35.3M	$172.9M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	85,806.6	+0.025%	$157.6M	$550.1M	—	as long as short
edgeX BTCUSDC	+0.0100%	4h	85,742.6	−0.049%	$280.1M	$921.7M	100x	as long as short
GRVT BTC_USDT_Perp	+0.0100%	8h	85,770.9	−0.016%	$215.4M	$166.0M	50x	as long as short
ApeX Omni BTCUSDT	+0.0100%	1h	85,773.2	−0.014%	$140.4M	$314.6M	100x	as long as short
StandX BTC-USD	+0.0100%	1h	85,766.5	−0.022%	$30.3M	$209.3M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	85,824.7	+0.046%	—	$11.8M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	85,771	−0.016%	$11.0M	$14.1M	50x	as long as short
Bullet BTC-USDshort	+0.0100%	1h	85,766.7	−0.021%	$191K	$3.3M	20x
Orderly PERP_BTC_USDC	+0.0100%	8h	85,746	−0.045%	$2.4M	$8.8M	100x	as long as short
Derive BTC-PERP	+0.0100%	1h	85,745.2	−0.046%	$30.0M	$50.9M	15x	as long as short
SunX BTC-USDT	+0.0100%	8h	85,741.2	−0.051%	$2.9M	$6.1M	100x	as long as short
Extended BTC-USD	+0.0104%	1h	85,721.1	−0.075%	$44.2M	$226.6M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0056%	1h	85,772.1	−0.015%	—	$105.9M	500x	as long as short
Coinbase International BTC-PERP-INTX	+0.0112%	1h	85,777	−0.009%	$127.8M	$5.10B	50x	as long as short
RISEx BTC/USDC	+0.0120%	1h	85,801	+0.019%	$8.4M	$42.2M	25x	as long as short
Kraken Futures PF_XBTUSD	+0.0138%	1h	85,768.8	−0.019%	$189.3M	$952.5M	100x	as long as short
Hibachi BTC/USDT-P	+0.0200%	1h	85,784.3	−0.001%	$704K	$7.8M	30x	as long as short
Aftermath Perps BTCUSD	+0.0201%	1h	85,793.4	+0.010%	$78K	$219K	20x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0202% / S −0.0178%	1h	85,768.9	−0.019%	$13.6M	—	200x	as long as short
Kalshi KXBTCPERP	+0.0219%	8h	85,790	+0.006%	$10.6M	$758.1M	6.4x	as long as short
Perpl BTC	+0.0447%	43m	85,789.9	+0.006%	$506K	$19.2M	6.7x	as long as short