BTC

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0007%/8h= +0.8% APRnext payment +$0.01 per $10,000 · paid last 24h −0.008%

Price spread now: SoDEX against Kraken Futures−0.045%7-day average −0.022% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$21as in the Price arb table

costs, in and out, $10k−$180.183% of the position

Long on Kraken Futures Short on SoDEX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.006%+$1 on $10k

Price spread, last 4 days (all we have)+0.018%+$2 · spread now −0.045%, 7d avg −0.022%

Together, before fees+0.025%+$2 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: SoDEX is 0.023% cheaper against Kraken Futures than usual: you would sell low and buy high, −$2 on $10k if it goes back to its 7-day average of −0.022%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_XBTUSD	85,306.7	0.0089	pay 0.0011% / 1h	41m 33s	$186.4M	$956.3M	100x
Short	SoDEX BTC-USD	85,268	0.0096	get 0.0012% / 1h	41m 33s	$59.7M	$336.9M	40x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SoDEX 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 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 Kraken FuturesbpFee SoDEXbpOrdersPrice spread, now −0.045%Rate

Funding earned: $1.53
Price spread: −0.045% → −0.022%: −$2.32
Slippage, 4 orders: −$0.26
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee SoDEX: 4 bp × 2 orders: −$8
Net: −$19.05
Costs to cover: 0.183%
Break-even: 94.1 days

Slippage from Kraken Futures: live order book, 3 min ago; SoDEX: live order book, 3 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, 3 min ago	0.06 bp	5.1 bp −$5	6.1 bp −$61	7.6 bp −$764	9.9 bp −$4,944
Sell SoDEX live order book, 3 min ago	0.06 bp	4.1 bp −$4	4.1 bp −$41	5.1 bp −$514	45.9 bp −$23.0K

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	−0.0082%	1h	85,287	−0.023%	$2.1M	$10.4M	40x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	85,304	−0.003%	$8K	$3K	50x	as long as short
KuCoin XBTUSDTM	−0.0047%	8h	85,286.5	−0.024%	$927.9M	$773.8M	125x	as long as short
BloFin BTC-USDT	−0.0027%	8h	85,312.1	+0.006%	$421.5M	$684.3M	150x	as long as short
Aster BTCUSDT	−0.0012%	8h	85,283.2	−0.028%	$512.5M	$1.09B	200x	as long as short
dYdX BTC-USD	0.0000%	1h	85,277	−0.035%	$16.7M	$21.4M	50x	as long as short
01 Exchange BTCUSD	0.0000%	1h	85,307.9	+0.001%	$354K	$2.4M	50x	as long as short
Perpl BTC	0.0000%	43m	85,280.3	−0.031%	$532K	$18.3M	6.7x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0004% / S −0.0004%	1h	85,294.7	−0.014%	$36.4M	—	200x	as long as short
ApeX Omni BTCUSDT	+0.0042%	1h	85,293.8	−0.015%	$139.5M	$314.4M	100x	as long as short

Show all 56 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado BTC-PERP	+0.0044%	1h	85,299.1	−0.009%	$24.4M	$222.8M	50x	as long as short
Injective BTC/USDC PERP	+0.0057%	1h	85,334	+0.032%	$339K	$26.8M	52x	as long as short
BingX BTC-USDT	+0.0070%	8h	85,298.5	−0.010%	—	$1.56B	—	as long as short
Deribit BTC-PERPETUAL	+0.0074%	1h	85,334.8	+0.033%	$868.8M	$1.64B	50x	as long as short
Bitget BTCUSDT	+0.0088%	8h	85,291	−0.018%	$2.96B	$5.18B	150x	as long as short
Kraken Futures PF_XBTUSDlong	+0.0089%	1h	85,306.7	long leg	$186.4M	$956.3M	100x
Binance BTCUSDT	+0.0093%	8h	85,294	−0.015%	$9.42B	$24.99B	150x	as long as short
MEXC BTC_USDT	+0.0093%	8h	85,293.4	−0.016%	$5.01B	$5.74B	500x	as long as short
Lighter BTC	+0.0096%	1h	85,308	+0.001%	$170.1M	$1.02B	50x	as long as short
Lighter RH BTC	+0.0096%	1h	85,307.7	+0.001%	$23.6M	$147.8M	50x	as long as short
Popdex BTCUSDT	+0.0096%	1h	85,290	−0.020%	$8.4M	$56.1M	100x	as long as short
Aevo BTC-PERP	+0.0096%	1h	85,281.7	−0.029%	$2.4M	$6.7M	20x	as long as short
SoDEX BTC-USDshort	+0.0096%	1h	85,268	−0.045%	$59.7M	$336.9M	40x
Katana Perps BTC-USD	+0.0100%	8h	85,265	−0.049%	$236K	$8.6M	50x	as long as short
Paradex BTC-USD-PERP	+0.0100%	8h	85,353.8	+0.055%	$5.8M	$9.6M	50x	as long as short
Hyperliquid BTC	+0.0100%	1h	85,369	+0.073%	$3.74B	$5.10B	40x	as long as short
Pacifica BTC	+0.0100%	1h	85,323.4	+0.020%	$39.9M	$602.6M	50x	as long as short
Bybit BTCUSDT	+0.0100%	8h	85,286.7	−0.024%	$5.14B	$10.01B	150x	as long as short
OKX BTC-USDT-SWAP	+0.0100%	8h	85,292.4	−0.017%	$2.59B	$12.27B	100x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	85,288	−0.022%	$3.8M	$17.1M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	85,299.1	−0.009%	$5.0M	$99.2M	40x	as long as short
Bulk BTC-USD	+0.0100%	1h	85,278.8	−0.033%	$682.9M	$449.0M	40x	as long as short
Gate BTC_USDT	+0.0100%	8h	85,302.6	−0.005%	$5.50B	$10.99B	200x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	85,270.9	−0.042%	$36.7M	$178.2M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	85,207.4	−0.116%	$154.6M	$558.5M	—	as long as short
edgeX BTCUSDC	+0.0100%	4h	85,231.5	−0.088%	$279.3M	$953.0M	100x	as long as short
GRVT BTC_USDT_Perp	+0.0100%	8h	85,325.3	+0.022%	$214.2M	$166.5M	50x	as long as short
StandX BTC-USD	+0.0100%	1h	85,279.2	−0.032%	$30.1M	$204.4M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	85,356.4	+0.058%	—	$10.9M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	85,295	−0.014%	$11.0M	$14.5M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	85,292	−0.017%	$201K	$3.3M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	85,294.5	−0.014%	$2.6M	$9.9M	100x	as long as short
Bluefin BTC-PERP	+0.0100%	1h	85,373.9	+0.079%	$194K	$795K	40x	as long as short
Derive BTC-PERP	+0.0100%	1h	85,270.8	−0.042%	$29.9M	$47.8M	15x	as long as short
SunX BTC-USDT	+0.0100%	8h	85,271.6	−0.041%	$2.9M	$6.1M	100x	as long as short
HTX BTC-USDT	+0.0100%	8h	85,269.8	−0.043%	$2.25B	$971.0M	200x	as long as short
Phemex BTCUSDT	+0.0100%	8h	85,301.7	−0.006%	$150.7M	$508.9M	150x	as long as short
Extended BTC-USD	+0.0104%	1h	85,274.1	−0.038%	$44.8M	$240.9M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0048%	1h	85,321.6	+0.017%	—	$107.1M	500x	as long as short
Coinbase International BTC-PERP-INTX	+0.0104%	1h	85,327.1	+0.024%	$117.1M	$5.47B	50x	as long as short
Reya BTCRUSDPERP	+0.0126%	1h	85,284.2	−0.026%	$6.6M	$147.6M	40x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0175% / S −0.0152%	1h	85,301.4	−0.006%	$13.0M	—	200x	as long as short
Kalshi KXBTCPERP	+0.0191%	8h	85,318	+0.013%	$11.6M	$742.8M	6.4x	as long as short
RISEx BTC/USDC	+0.0193%	1h	85,319.2	+0.015%	$8.7M	$43.1M	25x	as long as short
Hibachi BTC/USDT-P	+0.0240%	1h	85,320.6	+0.016%	$685K	$7.9M	30x	as long as short
Aftermath Perps BTCUSD	+0.0253%	1h	85,317.5	+0.013%	$79K	$229K	20x	as long as short