BTC

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC+0.0287%/8h= +31.4% APRnext payment +$0.36 per $10,000 · paid last 24h +0.026%

Price spread now: Aftermath Perps against Reya+0.095%7-day average +0.040% · you sell dearer than you buy

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

Long on Reya Short on Aftermath Perps

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.064%+$6 on $10k

Price spread, last 4 days (all we have)−0.042%−$4 · spread now +0.095%, 7d avg +0.040%

Together, before fees+0.022%+ Points / potential airdropReya: Active · farm board+$2 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$9 a day on $10k at the current rate, and Aftermath Perps is 0.055% dearer against Reya than usual: you sell high and buy low: +$6 more if the spread goes back to its 7-day average of +0.040%.

The current funding rate is far above what this pair has been paying: over the last 4 days it paid 0.064% in total (about 6.4% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.36 per $10,000. In the chart: green and red are payments made; yellow are the hours one leg has not settled yet: what the other leg paid, plus the unsettled leg at its current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Reya BTCRUSDPERP	86,062.8	0.0163	pay 0.0020% / 1h	51m 40s	$6.6M	$131.1M	40x
Short	Aftermath Perps BTCUSD	86,144.6	0.0450	get 0.0056% / 1h	51m 40s	$79K	$245K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aftermath Perps against Reya. 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 ReyabpFee Aftermath PerpsbpOrdersPrice spread, now +0.095%Rate

Funding earned: $60.2
Price spread: +0.095% → +0.040%: $5.55
Slippage, 4 orders: no order book: not counted
Fee Reya: 3 bp × 2 orders: −$6
Fee Aftermath Perps: 4.5 bp × 2 orders: −$9
Net: $50.75
Costs to cover: 0.150%
Break-even: 1.1 days

Slippage unknown: Reya: no order-book sample; Aftermath Perps: live order book, 60 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 Reya no order-book sample	—	—	—	—	—
Sell Aftermath Perps live order book, 60 min ago	2.87 bp	9.5 bp −$10	17.5 bp −$175	doesn't fit	doesn't fit

Reya: 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 exchanges

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	−0.0133%	1h	86,126	+0.073%	$2.0M	$7.8M	40x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	86,197	+0.156%	$8K	$2K	50x	as long as short
01 Exchange BTCUSD	−0.0024%	1h	86,076.4	+0.016%	$363K	$2.0M	50x	as long as short
BloFin BTC-USDT	−0.0020%	8h	86,091.8	+0.034%	$421.2M	$564.2M	150x	as long as short
SoDEX BTC-USD	0.0000%	1h	86,097	+0.040%	$65.9M	$187.9M	40x	as long as short
dYdX BTC-USD	0.0000%	1h	86,064.4	+0.002%	$16.9M	$14.6M	50x	as long as short
Perpl BTC	0.0000%	43m	86,108.2	+0.053%	$481K	$13.8M	6.7x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0004% / S −0.0004%	1h	86,111.6	+0.057%	$36.8M	—	200x	as long as short
Injective BTC/USDC PERP	+0.0009%	1h	86,214	+0.176%	$301K	$26.1M	52x	as long as short
Aster BTCUSDT	+0.0028%	8h	86,063.1	0.000%	$513.1M	$875.0M	200x	as long as short

Show all 55 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Kraken Futures PF_XBTUSD	+0.0029%	1h	86,113.5	+0.059%	$191.3M	$770.3M	100x	as long as short
BingX BTC-USDT	+0.0030%	8h	86,094.9	+0.037%	—	$1.33B	—	as long as short
Bybit BTCUSDT	+0.0036%	8h	86,089.7	+0.031%	$5.14B	$8.14B	150x	as long as short
ApeX Omni BTCUSDT	+0.0037%	1h	86,155.8	+0.108%	$137.8M	$295.3M	100x	as long as short
KuCoin XBTUSDTM	+0.0054%	8h	86,066.4	+0.004%	$942.9M	$634.5M	125x	as long as short
Gate BTC_USDT	+0.0063%	8h	86,094.5	+0.037%	$5.52B	$8.88B	200x	as long as short
Popdex BTCUSDT	+0.0072%	1h	86,073	+0.012%	$8.8M	$45.3M	100x	as long as short
Phemex BTCUSDT	+0.0088%	8h	86,088.5	+0.030%	$170.6M	$479.1M	150x	as long as short
Bitget BTCUSDT	+0.0094%	8h	86,092.2	+0.034%	$2.99B	$3.97B	150x	as long as short
Lighter BTC	+0.0096%	1h	86,085.1	+0.026%	$173.8M	$852.9M	50x	as long as short
Lighter RH BTC	+0.0096%	1h	86,080.5	+0.021%	$23.4M	$119.0M	50x	as long as short
Aevo BTC-PERP	+0.0096%	1h	86,069.3	+0.008%	$2.4M	$6.7M	20x	as long as short
HTX BTC-USDT	+0.0097%	8h	86,076.7	+0.016%	$2.27B	$805.8M	200x	as long as short
MEXC BTC_USDT	+0.0099%	8h	86,079.9	+0.020%	$5.17B	$4.82B	500x	as long as short
Binance BTCUSDT	+0.0099%	8h	86,074.9	+0.014%	$9.46B	$20.56B	150x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	86,048	−0.017%	$218K	$8.1M	50x	as long as short
Paradex BTC-USD-PERP	+0.0100%	8h	86,119	+0.065%	$6.0M	$7.6M	50x	as long as short
Nado BTC-PERP	+0.0100%	1h	86,059.5	−0.004%	$23.5M	$196.0M	50x	as long as short
Pacifica BTC	+0.0100%	1h	86,107.2	+0.052%	$40.4M	$570.0M	50x	as long as short
OKX BTC-USDT-SWAP	+0.0100%	8h	86,099.5	+0.043%	$2.61B	$9.50B	100x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	86,076	+0.015%	$4.0M	$15.1M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	86,120.7	+0.067%	$4.2M	$90.6M	40x	as long as short
Bulk BTC-USD	+0.0100%	1h	86,169.3	+0.124%	$716.4M	$134.3M	40x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	86,092	+0.034%	$38.7M	$196.3M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	86,125.5	+0.073%	$158.0M	$474.6M	—	as long as short
edgeX BTCUSDC	+0.0100%	4h	86,136.3	+0.085%	$290.0M	$813.0M	100x	as long as short
GRVT BTC_USDT_Perp	+0.0100%	8h	86,151.9	+0.104%	$216.4M	$133.7M	50x	as long as short
StandX BTC-USD	+0.0100%	1h	86,151	+0.103%	$30.3M	$222.8M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	86,134.7	+0.084%	—	$9.4M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	86,077	+0.017%	$11.0M	$12.0M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	86,093.8	+0.036%	$205K	$3.2M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	86,080.1	+0.020%	$2.7M	$8.9M	100x	as long as short
Bluefin BTC-PERP	+0.0100%	1h	86,127.2	+0.075%	$195K	$564K	40x	as long as short
SunX BTC-USDT	+0.0100%	8h	86,061.2	−0.002%	$3.2M	$6.6M	100x	as long as short
Extended BTC-USD	+0.0104%	1h	86,063.6	+0.001%	$47.0M	$203.0M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0056%	1h	86,101.5	+0.045%	—	$81.7M	500x	as long as short
Coinbase International BTC-PERP-INTX	+0.0120%	1h	86,143.8	+0.094%	$112.3M	$4.98B	50x	as long as short
Kalshi KXBTCPERP	+0.0159%	8h	86,102	+0.046%	$11.9M	$733.1M	6.4x	as long as short
Hyperliquid BTC	+0.0162%	1h	86,157	+0.109%	$3.97B	$4.36B	40x	as long as short
Reya BTCRUSDPERPlong	+0.0163%	1h	86,062.8	long leg	$6.6M	$131.1M	40x
RISEx BTC/USDC	+0.0187%	1h	86,112.5	+0.058%	$8.9M	$37.1M	25x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0211% / S −0.0251%	1h	86,101.2	+0.045%	$15.6M	—	200x	as long as short
Deribit BTC-PERPETUAL	+0.0245%	1h	86,143.2	+0.094%	$822.7M	$1.50B	50x	as long as short
Hibachi BTC/USDT-P	+0.0352%	1h	86,160	+0.113%	$727K	$7.0M	30x	as long as short
Aftermath Perps BTCUSDshort	+0.0450%	1h	86,144.6	+0.095%	$79K	$245K	20x