BTC

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0060%/8h= −6.6% APRnext payment −$0.07 per $10,000 · paid last 24h −0.008%

Price spread now: RISEx against Jupiter Perps+0.037%45s7-day average +0.008% · you sell dearer than you buy

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

Long on Jupiter Perps Short on RISEx

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.003%$0 on $10k

Price spread, last 3 days (all we have)−0.039%−$4 · spread now +0.037%, 7d avg +0.008%

Together, before fees−0.042%−$4 on $10k · with fees, hour by hour

The price spread pays, funding is against you. RISEx is 0.029% dearer against Jupiter Perps than usual: you sell high and buy low (spread +0.037% now, against its 7-day average of +0.008%): +$3 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 39 hours. At the pace of the last 3 days (−0.003% in total) that is about 28 days. The two prices were read 45 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Jupiter Perps WBTC-PERP	85,627.2	L +0.0104% / S +0.0056%	pay 0.0013% / 1h	19m 36s	—	$101.7M	500x
Short	RISEx BTC/USDC	85,659	0.0044	get 0.0006% / 1h	19m 36s	$8.1M	$42.1M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

RISEx against Jupiter Perps. 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

Position, each leg$Hold fordaysFee Jupiter PerpsbpFee RISExbpOrdersPrice spread, now +0.037%Rate

Funding earned: −$12.58
Price spread: +0.037% → +0.008%: $2.92
Slippage, 4 orders: no order book: not counted
Fee Jupiter Perps: 6 bp × 2 orders: −$12
Fee RISEx: 3 bp × 2 orders: −$6
Net: −$27.66
Costs to cover: 0.180%
Break-even: never at this rate

Slippage unknown: Jupiter Perps: no order-book sample; RISEx: 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 Jupiter Perps no order-book sample	—	—	—	—	—
Sell RISEx live order book, 5 min ago	0.01 bp	3.4 bp −$3	3.5 bp −$35	12.1 bp −$1,208	doesn't fit

Jupiter Perps: 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 55 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	−0.0144%	1h	85,785	+0.184%	$2.2M	$10.5M	40x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	85,657	+0.035%	$8K	$3K	50x	as long as short
01 Exchange BTCUSD	−0.0064%	1h	85,632.6	+0.006%	$365K	$2.3M	50x	as long as short
dYdX BTC-USD	+0.0002%	1h	85,641.5	+0.017%	$16.7M	$21.0M	50x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0004% / S −0.0004%	1h	85,618.8	−0.010%	$36.7M	—	200x	as long as short
Injective BTC/USDC PERP	+0.0020%	1h	85,691	+0.074%	$340K	$26.9M	52x	as long as short
KuCoin XBTUSDTM	+0.0031%	8h	85,625.1	−0.002%	$901.1M	$754.2M	125x	as long as short
Aster BTCUSDT	+0.0036%	8h	85,634.2	+0.008%	$515.8M	$1.14B	200x	as long as short
RISEx BTC/USDCshort	+0.0044%	1h	85,659	+0.037%	$8.1M	$42.1M	25x
Nado BTC-PERP	+0.0051%	1h	85,623.3	−0.005%	$22.6M	$227.4M	50x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX BTC-USDT	+0.0056%	8h	85,641.6	+0.017%	—	$1.56B	—	as long as short
Reya BTCRUSDPERP	+0.0058%	1h	85,597.2	−0.035%	$6.7M	$146.3M	40x	as long as short
Bitget BTCUSDT	+0.0069%	8h	85,633.2	+0.007%	$2.95B	$5.08B	150x	as long as short
HTX BTC-USDT	+0.0073%	8h	85,600.1	−0.032%	$2.27B	$947.4M	200x	as long as short
Binance BTCUSDT	+0.0092%	8h	85,633.1	+0.007%	$9.33B	$24.29B	150x	as long as short
MEXC BTC_USDT	+0.0093%	8h	85,633.1	+0.007%	$5.08B	$5.74B	500x	as long as short
ApeX Omni BTCUSDT	+0.0094%	1h	85,762.3	+0.158%	$140.2M	$318.2M	100x	as long as short
Lighter BTC	+0.0096%	1h	85,644.2	+0.020%	$170.3M	$992.0M	50x	as long as short
Lighter RH BTC	+0.0096%	1h	85,653.9	+0.031%	$23.5M	$147.6M	50x	as long as short
Popdex BTCUSDT	+0.0096%	1h	85,634	+0.008%	$8.4M	$51.8M	100x	as long as short
Aevo BTC-PERP	+0.0096%	1h	85,598.6	−0.033%	$2.5M	$1.8M	20x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	85,609	−0.021%	$202K	$7.5M	50x	as long as short
Paradex BTC-USD-PERP	+0.0100%	8h	85,607.7	−0.023%	$3.8M	$8.4M	50x	as long as short
Hyperliquid BTC	+0.0100%	1h	85,703.5	+0.089%	$3.76B	$4.98B	40x	as long as short
Pacifica BTC	+0.0100%	1h	85,668.1	+0.048%	$40.8M	$571.9M	50x	as long as short
Bybit BTCUSDT	+0.0100%	8h	85,649.4	+0.026%	$5.30B	$9.74B	150x	as long as short
OKX BTC-USDT-SWAP	+0.0100%	8h	85,645.8	+0.022%	$2.54B	$12.34B	100x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	85,645	+0.021%	$3.9M	$18.3M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	85,602.7	−0.029%	$7.2M	$97.6M	40x	as long as short
Bulk BTC-USD	+0.0100%	1h	85,744.8	+0.137%	$590.5M	$195.3M	40x	as long as short
Gate BTC_USDT	+0.0100%	8h	85,643.6	+0.019%	$5.59B	$10.56B	200x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	85,621.1	−0.007%	$35.3M	$164.9M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	85,688	+0.071%	$156.6M	$555.8M	—	as long as short
edgeX BTCUSDC	+0.0100%	4h	85,709.8	+0.096%	$278.8M	$940.8M	100x	as long as short
GRVT BTC_USDT_Perp	+0.0100%	8h	85,761.2	+0.156%	$215.2M	$166.3M	50x	as long as short
StandX BTC-USD	+0.0100%	1h	85,792	+0.192%	$30.3M	$208.7M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	85,685.3	+0.068%	—	$11.8M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	85,598	−0.034%	$11.0M	$14.3M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	85,609.9	−0.020%	$188K	$3.3M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	85,605.4	−0.025%	$2.4M	$9.0M	100x	as long as short
Bluefin BTC-PERP	+0.0100%	1h	85,638.9	+0.014%	$186K	$708K	40x	as long as short
Derive BTC-PERP	+0.0100%	1h	85,607.9	−0.023%	$30.0M	$56.0M	15x	as long as short
SunX BTC-USDT	+0.0100%	8h	85,671	+0.051%	$2.9M	$6.6M	100x	as long as short
SoDEX BTC-USD	+0.0100%	1h	85,602	−0.029%	$59.9M	$337.1M	40x	as long as short
Phemex BTCUSDT	+0.0100%	8h	85,605.2	−0.026%	$153.6M	$480.5M	150x	as long as short
Extended BTC-USD	+0.0104%	1h	85,610.5	−0.020%	$44.1M	$227.9M	50x	as long as short
Jupiter Perps WBTC-PERPlong	L +0.0104% / S +0.0056%	1h	85,627.2	long leg	—	$101.7M	500x
Coinbase International BTC-PERP-INTX	+0.0112%	1h	85,639.5	+0.014%	$131.3M	$5.15B	50x	as long as short
Deribit BTC-PERPETUAL	+0.0122%	1h	85,642.6	+0.018%	$894.7M	$1.54B	50x	as long as short
Hibachi BTC/USDT-P	+0.0136%	1h	85,755.4	+0.150%	$696K	$7.8M	30x	as long as short
Kraken Futures PF_XBTUSD	+0.0146%	1h	85,622.8	−0.005%	$187.7M	$963.5M	100x	as long as short
Aftermath Perps BTCUSD	+0.0169%	1h	85,732.8	+0.123%	$78K	$219K	20x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0203% / S −0.0189%	1h	85,615.2	−0.014%	$13.5M	—	200x	as long as short
Kalshi KXBTCPERP	+0.0212%	8h	85,646	+0.022%	$10.1M	$770.2M	6.4x	as long as short
Perpl BTC	+0.0447%	43m	85,649.2	+0.026%	$514K	$20.6M	6.7x	as long as short