Funding you earn now, next payment 01:00 UTC−0.0099%/8h= −10.8% APRnext payment −$0.12 per $10,000 · paid last 24h −0.024%
Price spread now: dYdX against Kraken Futures−0.021%7-day average −0.004% · you buy dearer than you sell
Net, funding: paid 7d − costs−$46as in the Funding arb table
Net, price: spread back to 7d avg − costs−$34as in the Price arb table
costs, in and out, $10k−$320.323% of the position
Funding, last 7 days−0.140%−$14 on $10k
+Price spread, last 3 days (all we have)+0.014%+$1 · spread now −0.021%, 7d avg −0.004%
=The price spread sits at its 7-day average of −0.004%, so right now this pair is about funding alone: −$3 a day on $10k at the current rate.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Kraken Futures PF_XBTUSD | 85,876.1 | 0.0122 | pay 0.0015% / 1h | 0m 35s | $187.1M | $960.3M | 100x |
| Short | dYdX BTC-USD | 85,857.9 | 0.0023 | get 0.0003% / 1h | 0m 35s | $16.8M | $20.5M | 50x |
Kraken Futures PF_XBTUSD
dYdX BTC-USDFunding history
latest
Range statsloading…
Price spread between the two exchanges
dYdX against Kraken Futures. 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
- −$20.72
- Price spread: −0.021% → −0.004%
- −$1.69
- Slippage, 4 orders
- −$12.29
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Fee dYdX: 5 bp × 2 orders
- −$10
- Net
- −$54.7
- Costs to cover
- 0.323%
- Break-even
- never at this rate
Slippage from Kraken Futures: live order book, 4 min ago; dYdX: live order book, 4 min ago.
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 Kraken Futures live order book, 4 min ago | 0.41 bp | 6.1 bp −$6 | 7.3 bp −$73 | 9.0 bp −$901 | 12.4 bp −$6,189 |
| Sell dYdX live order book, 4 min ago | 4.07 bp | 11.6 bp −$12 | 16.1 bp −$161 | 17.2 bp −$1,720 | 18.5 bp −$9,228 |
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 | −0.0129% | 1h | 85,869 | −0.008% | $2.2M | $11.2M | 40x | as long as short |
| Hotstuff BTC-PERP | −0.0080% | 1h | 85,878 | +0.002% | $9K | $3K | 50x | as long as short |
| 01 Exchange BTCUSD | −0.0048% | 1h | 85,840.1 | −0.042% | $362K | $2.3M | 50x | as long as short |
| Perpl BTC | 0.0000% | 43m | 85,918.5 | +0.049% | $523K | $21.3M | 6.7x | as long as short |
| gTrade (Gains Network) BTC/USD | L +0.0004% / S −0.0004% | 1h | 85,877.7 | +0.002% | $36.7M | — | 200x | as long as short |
| Injective BTC/USDC PERP | +0.0023% | 1h | 86,155 | +0.325% | $342K | $26.9M | 52x | as long as short |
| dYdX BTC-USDshort | +0.0023% | 1h | 85,857.9 | −0.021% | $16.8M | $20.5M | 50x | |
| Aster BTCUSDT | +0.0029% | 8h | 85,851.1 | −0.029% | $497.9M | $1.13B | 200x | as long as short |
| KuCoin XBTUSDTM | +0.0044% | 8h | 85,857.8 | −0.021% | $822.6M | $719.5M | 125x | as long as short |
| HTX BTC-USDT | +0.0047% | 8h | 85,834.5 | −0.048% | $2.28B | $962.5M | 200x | as long as short |
Phoenix BTC
Hotstuff BTC-PERP
01 Exchange BTCUSD
Perpl BTC
gTrade (Gains Network) BTC/USD
Injective BTC/USDC PERP
Aster BTCUSDT
KuCoin XBTUSDTM
HTX BTC-USDTShow all 56 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Reya BTCRUSDPERP | +0.0051% | 1h | 85,827.3 | −0.057% | $6.7M | $145.9M | 40x | as long as short |
| RISEx BTC/USDC | +0.0052% | 1h | 85,855.5 | −0.024% | $8.1M | $42.5M | 25x | as long as short |
| BingX BTC-USDC | +0.0053% | 8h | 85,831.2 | −0.052% | — | $15.3M | — | as long as short |
| SoDEX BTC-USD | +0.0064% | 1h | 85,850 | −0.030% | $60.1M | $338.3M | 40x | as long as short |
| Bitget BTCUSDT | +0.0065% | 8h | 85,836.1 | −0.047% | $2.94B | $5.09B | 150x | as long as short |
| Aevo BTC-PERP | +0.0080% | 1h | 85,841 | −0.041% | $2.5M | $1.8M | 20x | as long as short |
| Binance BTCUSDT | +0.0081% | 8h | 85,839.9 | −0.042% | $9.34B | $24.40B | 150x | as long as short |
| MEXC BTC_USDT | +0.0081% | 8h | 85,841.2 | −0.041% | $5.09B | $5.80B | 500x | as long as short |
| Gate BTC_USDT | +0.0088% | 8h | 85,854.2 | −0.025% | $5.71B | $10.75B | 200x | as long as short |
| Lighter BTC | +0.0096% | 1h | 85,879.7 | +0.004% | $169.5M | $1.00B | 50x | as long as short |
| Lighter RH BTC | +0.0096% | 1h | 85,863.6 | −0.015% | $23.4M | $152.8M | 50x | as long as short |
| Popdex BTCUSDT | +0.0096% | 1h | 85,843 | −0.039% | $8.4M | $52.3M | 100x | as long as short |
| Katana Perps BTC-USD | +0.0100% | 8h | 85,822 | −0.063% | $200K | $7.4M | 50x | as long as short |
| Paradex BTC-USD-PERP | +0.0100% | 8h | 85,873.8 | −0.003% | $4.2M | $8.6M | 50x | as long as short |
| Nado BTC-PERP | +0.0100% | 1h | 85,873.5 | −0.003% | $22.0M | $226.9M | 50x | as long as short |
| Hyperliquid BTC | +0.0100% | 1h | 85,933 | +0.066% | $3.76B | $4.99B | 40x | as long as short |
| Pacifica BTC | +0.0100% | 1h | 85,887 | +0.013% | $40.7M | $560.8M | 50x | as long as short |
| Bybit BTCUSDT | +0.0100% | 8h | 85,849.1 | −0.031% | $5.23B | $9.68B | 150x | as long as short |
| OKX BTC-USDT-SWAP | +0.0100% | 8h | 85,841.8 | −0.040% | $2.54B | $12.44B | 100x | as long as short |
| Ondo Perps BTC-USD.P | +0.0100% | 1h | 85,854 | −0.026% | $3.9M | $17.9M | 25x | as long as short |
| Arcus BTC-USD | +0.0100% | 1h | 85,846.4 | −0.035% | $7.0M | $97.2M | 40x | as long as short |
| Backpack BTC_USDC_PERP | +0.0100% | 1h | 85,829.3 | −0.054% | $35.2M | $162.5M | 75x | as long as short |
| Variational Omni BTC | +0.0100% | 8h | 85,848.7 | −0.032% | $155.7M | $555.8M | — | as long as short |
| edgeX BTCUSDC | +0.0100% | 4h | 85,951.8 | +0.088% | $277.5M | $943.8M | 100x | as long as short |
| GRVT BTC_USDT_Perp | +0.0100% | 8h | 86,079 | +0.236% | $216.0M | $163.9M | 50x | as long as short |
| ApeX Omni BTCUSDT | +0.0100% | 1h | 85,961.3 | +0.099% | $140.7M | $320.6M | 100x | as long as short |
| StandX BTC-USD | +0.0100% | 1h | 85,886.8 | +0.012% | $30.5M | $206.3M | 40x | as long as short |
| Vest BTC-PERP | +0.0100% | 1h | 85,907 | +0.036% | — | $11.8M | 50x | as long as short |
| Polymarket Perps BTC-USD | +0.0100% | 1h | 85,838 | −0.044% | $11.0M | $14.1M | 50x | as long as short |
| Bullet BTC-USD | +0.0100% | 1h | 85,873 | −0.004% | $192K | $3.3M | 20x | as long as short |
| Orderly PERP_BTC_USDC | +0.0100% | 8h | 85,854.8 | −0.025% | $2.4M | $9.1M | 100x | as long as short |
| Bluefin BTC-PERP | +0.0100% | 1h | 85,886.2 | +0.012% | $169K | $692K | 40x | as long as short |
| Derive BTC-PERP | +0.0100% | 1h | 85,864.4 | −0.014% | $30.0M | $57.0M | 15x | as long as short |
| SunX BTC-USDT | +0.0100% | 8h | 85,827.5 | −0.057% | $3.2M | $5.6M | 100x | as long as short |
| Phemex BTCUSDT | +0.0100% | 8h | 85,856.2 | −0.023% | $154.8M | $474.2M | 150x | as long as short |
| Bulk BTC-USD | +0.0100% | 1h | 86,141.5 | +0.309% | $581.0M | $76.4M | 40x | as long as short |
| Extended BTC-USD | +0.0104% | 1h | 85,824.7 | −0.060% | $45.4M | $224.3M | 50x | as long as short |
| Jupiter Perps WBTC-PERP | L +0.0104% / S +0.0048% | 1h | 85,912.5 | +0.042% | — | $100.4M | 500x | as long as short |
| Hibachi BTC/USDT-P | +0.0120% | 1h | 85,911.3 | +0.041% | $720K | $8.0M | 30x | as long as short |
| Coinbase International BTC-PERP-INTX | +0.0120% | 1h | 85,887.9 | +0.014% | $131.4M | $5.25B | 50x | as long as short |
| Kraken Futures PF_XBTUSDlong | +0.0122% | 1h | 85,876.1 | long leg | $187.1M | $960.3M | 100x | |
| Deribit BTC-PERPETUAL | +0.0132% | 1h | 85,893 | +0.020% | $902.3M | $1.51B | 50x | as long as short |
| Aftermath Perps BTCUSD | +0.0164% | 1h | 86,070.9 | +0.227% | $77K | $217K | 20x | as long as short |
| BloFin BTC-USDT | +0.0201% | 8h | 85,835.6 | −0.047% | $414.7M | $642.4M | 150x | as long as short |
| Kalshi KXBTCPERP | +0.0203% | 8h | 85,919 | +0.050% | $10.3M | $766.8M | 6.4x | as long as short |
| GMX BTC/USD [WBTC.b-USDC] | L +0.0204% / S −0.0203% | 1h | 85,878.5 | +0.003% | $13.7M | — | 200x | as long as short |
Reya BTCRUSDPERP
RISEx BTC/USDC
BingX BTC-USDC
SoDEX BTC-USD
Bitget BTCUSDT
Aevo BTC-PERP
Binance BTCUSDT
MEXC BTC_USDT
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
Phemex BTCUSDT
Bulk BTC-USD
Extended BTC-USD
Jupiter Perps WBTC-PERP
Hibachi BTC/USDT-P
Coinbase International BTC-PERP-INTX
Deribit BTC-PERPETUAL
Aftermath Perps BTCUSD
BloFin BTC-USDT
Kalshi KXBTCPERP
GMX BTC/USD [WBTC.b-USDC]