BTC

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0134%/8h= −14.6% APRnext payment −$0.17 per $10,000 · paid last 24h −0.014%

Price spread now: Hotstuff against Reya+0.026%7-day average — · you sell dearer than you buy

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

Long on Reya Short on Hotstuff

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropReya: Active · Hotstuff: Active · farm boardneeds both histories

The price spread pays, funding is against you. Hotstuff is 0.026% dearer against Reya than usual: you sell high and buy low (spread +0.026% now, against zero (this spread has no 7-day history yet)): +$3 on $10k if it goes back. Holding the pair costs −$4 a day in funding at the current rate, which eats that in about 16 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Reya BTCRUSDPERP	85,754.5	0.0054	pay 0.0007% / 1h	43m 50s	$6.7M	$146.1M	40x
Short	Hotstuff BTC-PERP	85,777	−0.0080	pay 0.0010% / 1h	43m 50s	$8K	$3K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hotstuff against Reya. 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 ReyabpFee HotstuffbpOrdersPrice spread, now +0.026%Rate

Funding earned: −$28.06
Price spread: +0.026% → 0.000%: $2.63
Slippage, 4 orders: no order book: not counted
Fee Reya: 3 bp × 2 orders: −$6
Fee Hotstuff: 2.5 bp × 2 orders: −$5
Net: −$36.43
Costs to cover: 0.110%
Break-even: never at this rate

Slippage unknown: Reya: no order-book sample; Hotstuff: no order-book sample. 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 Hotstuff no order-book sample	—	—	—	—	—

Reya and 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.

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phoenix BTC	−0.0144%	1h	85,767	+0.015%	$2.2M	$10.5M	40x	as long as short
Hotstuff BTC-PERPshort	−0.0080%	1h	85,777	+0.026%	$8K	$3K	50x
BloFin BTC-USDT	−0.0078%	8h	85,853	+0.115%	$415.8M	$658.2M	150x	as long as short
01 Exchange BTCUSD	−0.0056%	1h	85,771.9	+0.020%	$364K	$2.3M	50x	as long as short
dYdX BTC-USD	0.0000%	1h	85,774.5	+0.023%	$16.8M	$20.6M	50x	as long as short
Perpl BTC	0.0000%	43m	85,776.8	+0.026%	$512K	$21.2M	6.7x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0004% / S −0.0004%	1h	85,814.8	+0.070%	$36.7M	—	200x	as long as short
Injective BTC/USDC PERP	+0.0020%	1h	85,810	+0.065%	$341K	$26.9M	52x	as long as short
Aster BTCUSDT	+0.0037%	8h	85,822.9	+0.080%	$497.7M	$1.13B	200x	as long as short
KuCoin XBTUSDTM	+0.0040%	8h	85,815.9	+0.072%	$894.9M	$757.3M	125x	as long as short

Show all 56 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
RISEx BTC/USDC	+0.0044%	1h	85,770.5	+0.019%	$8.1M	$42.6M	25x	as long as short
BingX BTC-USDC	+0.0053%	8h	85,836.7	+0.096%	—	$15.4M	—	as long as short
Reya BTCRUSDPERPlong	+0.0054%	1h	85,754.5	long leg	$6.7M	$146.1M	40x
Bitget BTCUSDT	+0.0067%	8h	85,849.9	+0.111%	$2.96B	$5.14B	150x	as long as short
ApeX Omni BTCUSDT	+0.0076%	1h	85,808.2	+0.063%	$140.3M	$320.9M	100x	as long as short
HTX BTC-USDT	+0.0077%	8h	85,806.3	+0.060%	$2.28B	$969.3M	200x	as long as short
Nado BTC-PERP	+0.0079%	1h	85,769.9	+0.018%	$22.8M	$229.3M	50x	as long as short
Binance BTCUSDT	+0.0088%	8h	85,843.9	+0.104%	$9.34B	$24.59B	150x	as long as short
MEXC BTC_USDT	+0.0088%	8h	85,821.8	+0.079%	$5.11B	$5.67B	500x	as long as short
Aevo BTC-PERP	+0.0088%	1h	85,816	+0.072%	$2.5M	$1.8M	20x	as long as short
Gate BTC_USDT	+0.0094%	8h	85,839	+0.099%	$5.66B	$10.39B	200x	as long as short
Lighter BTC	+0.0096%	1h	85,834.9	+0.094%	$169.6M	$979.7M	50x	as long as short
Lighter RH BTC	+0.0096%	1h	85,836.9	+0.096%	$23.3M	$145.3M	50x	as long as short
Popdex BTCUSDT	+0.0096%	1h	85,778	+0.027%	$8.4M	$52.5M	100x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	85,749	−0.006%	$210K	$7.5M	50x	as long as short
Paradex BTC-USD-PERP	+0.0100%	8h	85,766.6	+0.014%	$3.8M	$8.7M	50x	as long as short
Hyperliquid BTC	+0.0100%	1h	85,909	+0.180%	$3.77B	$5.04B	40x	as long as short
Pacifica BTC	+0.0100%	1h	85,775.8	+0.025%	$40.9M	$569.6M	50x	as long as short
Bybit BTCUSDT	+0.0100%	8h	85,859.8	+0.123%	$5.28B	$9.81B	150x	as long as short
OKX BTC-USDT-SWAP	+0.0100%	8h	85,859.9	+0.123%	$2.55B	$12.54B	100x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	85,758	+0.004%	$3.9M	$17.8M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	85,745.2	−0.011%	$7.3M	$98.1M	40x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	85,817.8	+0.074%	$35.2M	$163.5M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	85,783.2	+0.033%	$155.9M	$552.3M	—	as long as short
edgeX BTCUSDC	+0.0100%	4h	85,787.3	+0.038%	$278.0M	$944.2M	100x	as long as short
GRVT BTC_USDT_Perp	+0.0100%	8h	85,857.1	+0.120%	$215.7M	$163.7M	50x	as long as short
StandX BTC-USD	+0.0100%	1h	85,750	−0.005%	$30.3M	$207.5M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	85,816.9	+0.073%	—	$11.8M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	85,769	+0.017%	$11.0M	$14.2M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	85,791	+0.043%	$191K	$3.3M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	85,820.3	+0.077%	$2.4M	$9.1M	100x	as long as short
Bluefin BTC-PERP	+0.0100%	1h	85,863.3	+0.127%	$186K	$710K	40x	as long as short
Derive BTC-PERP	+0.0100%	1h	85,833.1	+0.092%	$30.0M	$57.4M	15x	as long as short
SunX BTC-USDT	+0.0100%	8h	85,757	+0.003%	$2.9M	$6.6M	100x	as long as short
SoDEX BTC-USD	+0.0100%	1h	85,822	+0.079%	$60.1M	$337.9M	40x	as long as short
Phemex BTCUSDT	+0.0100%	8h	85,820.8	+0.077%	$154.3M	$479.5M	150x	as long as short
Bulk BTC-USD	+0.0100%	1h	85,804.9	+0.059%	$582.3M	$118.5M	40x	as long as short
Extended BTC-USD	+0.0104%	1h	85,800.3	+0.053%	$44.9M	$227.5M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0056%	1h	85,754.4	0.000%	—	$101.4M	500x	as long as short
Coinbase International BTC-PERP-INTX	+0.0112%	1h	85,858.2	+0.121%	$131.8M	$5.26B	50x	as long as short
Hibachi BTC/USDT-P	+0.0136%	1h	85,756.8	+0.003%	$706K	$7.9M	30x	as long as short
Kraken Futures PF_XBTUSD	+0.0146%	1h	85,848.5	+0.110%	$189.1M	$970.5M	100x	as long as short
Aftermath Perps BTCUSD	+0.0152%	1h	85,809.7	+0.064%	$77K	$217K	20x	as long as short
Deribit BTC-PERPETUAL	+0.0160%	1h	85,862.6	+0.126%	$895.7M	$1.54B	50x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0204% / S −0.0194%	1h	85,794.6	+0.047%	$13.8M	—	200x	as long as short
Kalshi KXBTCPERP	+0.0205%	8h	85,788	+0.039%	$10.0M	$769.6M	6.4x	as long as short