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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 04:00 UTC+0.0180%/8h= +19.7% APRnext payment +$0.23 per $10,000 · paid last 24h +0.054%
Price spread now: Polymarket Perps against Hotstuff−0.022%7-day average — · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Long on HotstuffShort on Polymarket Perps
What this pair did over the last
the charts below follow
Funding, last 4 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. Polymarket Perps is 0.022% cheaper against Hotstuff than usual: you would sell low and buy high (spread −0.022% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$2 on $10k: about 10 hours of funding at the current rate (+$5 a day).
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongHotstuff BTC-PERP85,511−0.0080get 0.0010% / 1h40m 33s$8K$3K50x
ShortPolymarket Perps BTC-USD85,4920.0100get 0.0013% / 1h40m 33s$11.0M$14.2M50x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Polymarket Perps 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

Funding earned
$37.8
Price spread: −0.022% → 0.000%
−$2.22
Slippage, 4 orders
no order book: not counted
Fee Hotstuff: 2.5 bp × 2 orders
−$5
Fee Polymarket Perps: 4 bp × 2 orders
−$8
Net
$22.58
Costs to cover
0.130%
Break-even
2.8 days
Slippage unknown: Hotstuff: no order-book sample; Polymarket Perps: live order book, 4 min ago. Net counts fees only.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy Hotstuff no order-book sample—————
Sell Polymarket Perps live order book, 4 min ago0.06 bp4.1 bp −$44.2 bp −$427.1 bp −$708doesn'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.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Bluefin BTC-PERP−0.0434%1h85,519.1+0.009%$207K$738K40xas long as short
Phoenix BTC−0.0179%1h85,385−0.147%$2.2M$10.3M40xas long as short
Hotstuff BTC-PERPlong−0.0080%1h85,511long leg$8K$3K50x
01 Exchange BTCUSD−0.0048%1h85,501.5−0.011%$366K$2.3M50xas long as short
BloFin BTC-USDT−0.0031%8h85,454.3−0.066%$416.4M$665.7M150xas long as short
KuCoin XBTUSDTM−0.0008%8h85,487.7−0.027%$919.5M$750.3M125xas long as short
gTrade (Gains Network) BTC/USDL +0.0005% / S −0.0004%1h85,481.7−0.034%$36.5M—200xas long as short
Aster BTCUSDT+0.0011%8h85,485.2−0.030%$515.2M$1.10B200xas long as short
dYdX BTC-USD+0.0020%1h85,483.8−0.032%$16.7M$21.2M50xas long as short
Arcus BTC-USD+0.0021%1h85,490.8−0.024%$6.9M$97.2M40xas long as short
Show all 56 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Nado BTC-PERP+0.0058%1h85,490.1−0.024%$22.8M$219.0M50xas long as short
BingX BTC-USDC+0.0060%8h85,482.8−0.033%—$17.1M—as long as short
Bitget BTCUSDT+0.0076%8h85,493−0.021%$2.96B$5.03B150xas long as short
Reya BTCRUSDPERP+0.0079%1h85,484.7−0.031%$6.7M$146.7M40xas long as short
Aevo BTC-PERP+0.0088%1h85,463.1−0.056%$2.4M$1.7M20xas long as short
MEXC BTC_USDT+0.0089%8h85,499.1−0.014%$5.05B$5.59B500xas long as short
Binance BTCUSDT+0.0089%8h85,511.6+0.001%$9.35B$24.04B150xas long as short
Lighter BTC+0.0096%1h85,518.4+0.009%$173.2M$1.00B50xas long as short
Lighter RH BTC+0.0096%1h85,511.7+0.001%$23.8M$148.5M50xas long as short
Popdex BTCUSDT+0.0096%1h85,512+0.001%$8.4M$52.7M100xas long as short
Katana Perps BTC-USD+0.0100%8h85,482−0.034%$226K$8.0M50xas long as short
Paradex BTC-USD-PERP+0.0100%8h85,547.1+0.042%$4.2M$8.5M50xas long as short
Hyperliquid BTC+0.0100%1h85,580+0.081%$3.75B$4.98B40xas long as short
Pacifica BTC+0.0100%1h85,532.6+0.025%$40.0M$575.8M50xas long as short
Bybit BTCUSDT+0.0100%8h85,497.9−0.015%$5.24B$9.69B150xas long as short
OKX BTC-USDT-SWAP+0.0100%8h85,504.2−0.008%$2.58B$12.10B100xas long as short
Ondo Perps BTC-USD.P+0.0100%1h85,513+0.002%$3.9M$18.0M25xas long as short
Gate BTC_USDT+0.0100%8h85,512.3+0.001%$5.54B$10.62B200xas long as short
Backpack BTC_USDC_PERP+0.0100%1h85,471.2−0.047%$35.7M$176.2M75xas long as short
Variational Omni BTC+0.0100%8h85,453.7−0.067%$153.6M$563.4M—as long as short
edgeX BTCUSDC+0.0100%4h85,527.2+0.019%$279.4M$916.4M100xas long as short
GRVT BTC_USDT_Perp+0.0100%8h85,511.20.000%$214.7M$168.5M50xas long as short
ApeX Omni BTCUSDT+0.0100%1h85,522.5+0.013%$139.9M$314.9M100xas long as short
StandX BTC-USD+0.0100%1h85,450−0.071%$30.2M$207.6M40xas long as short
Vest BTC-PERP+0.0100%1h85,542.3+0.037%—$11.8M50xas long as short
Polymarket Perps BTC-USDshort+0.0100%1h85,492−0.022%$11.0M$14.2M50x
Bullet BTC-USD+0.0100%1h85,496.7−0.017%$193K$3.3M20xas long as short
Orderly PERP_BTC_USDC+0.0100%8h85,471.8−0.046%$2.3M$8.8M100xas long as short
Derive BTC-PERP+0.0100%1h85,470.1−0.048%$29.9M$50.9M15xas long as short
SunX BTC-USDT+0.0100%8h85,450−0.071%$2.9M$6.1M100xas long as short
SoDEX BTC-USD+0.0100%1h85,474−0.043%$59.9M$336.1M40xas long as short
HTX BTC-USDT+0.0100%8h85,454.3−0.066%$2.26B$940.1M200xas long as short
Phemex BTCUSDT+0.0100%8h85,475.9−0.041%$149.9M$484.1M150xas long as short
Bulk BTC-USD+0.0100%1h85,513.6+0.003%$649.6M$594.9M40xas long as short
Extended BTC-USD+0.0104%1h85,477.8−0.039%$44.5M$226.5M50xas long as short
Jupiter Perps WBTC-PERPL +0.0104% / S +0.0056%1h85,449.9−0.071%—$106.9M500xas long as short
Coinbase International BTC-PERP-INTX+0.0104%1h85,513.8+0.003%$117.0M$5.16B50xas long as short
Injective BTC/USDC PERP+0.0150%1h85,539+0.033%$340K$26.9M52xas long as short
Kraken Futures PF_XBTUSD+0.0170%1h85,499.8−0.013%$188.4M$954.2M100xas long as short
GMX BTC/USD [WBTC.b-USDC]L +0.0176% / S −0.0150%1h85,475.2−0.042%$13.4M—200xas long as short
RISEx BTC/USDC+0.0194%1h85,530.2+0.022%$8.3M$42.4M25xas long as short
Hibachi BTC/USDT-P+0.0200%1h85,496.4−0.017%$693K$7.9M30xas long as short
Aftermath Perps BTCUSD+0.0201%1h85,522.7+0.014%$78K$219K20xas long as short
Deribit BTC-PERPETUAL+0.0210%1h85,525.4+0.017%$893.9M$1.53B50xas long as short
Kalshi KXBTCPERP+0.0217%8h85,474−0.043%$10.4M$758.6M6.4xas long as short
Perpl BTC+0.0447%43m85,519.8+0.010%$497K$18.9M6.7xas long as short