Funding you earn now, next payment 08:00 UTC−0.0074%/8h= −8.1% APRnext payment −$0.09 per $10,000 · paid last 24h −0.004%
Price spread now: Bulk against RISEx−0.047%7-day average −0.008% · 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−$18as in the Price arb table
costs, in and out, $10k−$140.141% of the position
Funding, last 4 days (all we have)+0.007%+$1 on $10k
+Price spread, last 7 days+0.019%+$2 · spread now −0.047%, 7d avg −0.008%
=Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Bulk is 0.039% cheaper against RISEx than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of −0.008%). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | RISEx BTC/USDC | 85,296 | 0.0174 | pay 0.0022% / 1h | 8m 16s | $8.8M | $43.0M | 25x |
| Short | Bulk BTC-USD | 85,256 | 0.0100 | get 0.0013% / 1h | 8m 16s | $695.2M | $190.7M | 40x |
RISEx BTC/USDC
Bulk BTC-USDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Bulk against RISEx. 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
- −$15.58
- Price spread: −0.047% → −0.008%
- −$3.9
- Slippage, 4 orders
- −$1.05
- Fee RISEx: 3 bp × 2 orders
- −$6
- Fee Bulk: 3.5 bp × 2 orders
- −$7
- Net
- −$33.53
- Costs to cover
- 0.141%
- Break-even
- never at this rate
Slippage from RISEx: live order book, 1 min ago; Bulk: live order book, 1 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 RISEx live order book, 1 min ago | 0.01 bp | 3.2 bp −$3 | 3.2 bp −$32 | 11.3 bp −$1,130 | doesn't fit |
| Sell Bulk live order book, 1 min ago | 0.01 bp | 3.5 bp −$4 | 3.5 bp −$35 | 4.1 bp −$410 | 5.2 bp −$2,608 |
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 | |
|---|---|---|---|---|---|---|---|---|
| Hotstuff BTC-PERP | −0.0080% | 1h | 85,279 | −0.020% | $8K | $3K | 50x | as long as short |
| Phoenix BTC | −0.0034% | 1h | 85,330 | +0.040% | $2.3M | $10.8M | 40x | as long as short |
| BloFin BTC-USDT | −0.0020% | 8h | 85,261.5 | −0.040% | $421.2M | $686.7M | 150x | as long as short |
| KuCoin XBTUSDTM | −0.0009% | 8h | 85,253.1 | −0.050% | $927.7M | $776.9M | 125x | as long as short |
| 01 Exchange BTCUSD | 0.0000% | 1h | 85,274.9 | −0.025% | $344K | $2.3M | 50x | as long as short |
| gTrade (Gains Network) BTC/USD | L +0.0004% / S −0.0004% | 1h | 85,276.2 | −0.023% | $36.5M | — | 200x | as long as short |
| Aster BTCUSDT | +0.0011% | 8h | 85,266.4 | −0.035% | $509.3M | $1.09B | 200x | as long as short |
| dYdX BTC-USD | +0.0017% | 1h | 85,277.8 | −0.021% | $16.7M | $21.0M | 50x | as long as short |
| Kraken Futures PF_XBTUSD | +0.0026% | 1h | 85,281.2 | −0.017% | $185.7M | $954.0M | 100x | as long as short |
| BingX BTC-USDT | +0.0065% | 8h | 85,266 | −0.035% | — | $1.58B | — | as long as short |
Hotstuff BTC-PERP
Phoenix BTC
BloFin BTC-USDT
KuCoin XBTUSDTM
01 Exchange BTCUSD
gTrade (Gains Network) BTC/USD
Aster BTCUSDT
dYdX BTC-USD
Kraken Futures PF_XBTUSD
BingX BTC-USDTShow all 56 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Injective BTC/USDC PERP | +0.0067% | 1h | 85,260 | −0.042% | $310K | $25.8M | 52x | as long as short |
| Bybit BTCUSDT | +0.0084% | 8h | 85,264.8 | −0.037% | $5.09B | $10.03B | 150x | as long as short |
| Nado BTC-PERP | +0.0093% | 1h | 85,261.4 | −0.041% | $24.0M | $221.5M | 50x | as long as short |
| Lighter BTC | +0.0096% | 1h | 85,278.4 | −0.021% | $169.0M | $1.02B | 50x | as long as short |
| Lighter RH BTC | +0.0096% | 1h | 85,277.2 | −0.022% | $23.6M | $149.1M | 50x | as long as short |
| Popdex BTCUSDT | +0.0096% | 1h | 85,274 | −0.026% | $8.4M | $57.8M | 100x | as long as short |
| Aevo BTC-PERP | +0.0096% | 1h | 85,264.6 | −0.037% | $2.4M | $6.7M | 20x | as long as short |
| ApeX Omni BTCUSDT | +0.0097% | 1h | 85,252.4 | −0.051% | $139.7M | $311.8M | 100x | as long as short |
| Katana Perps BTC-USD | +0.0100% | 8h | 85,256 | −0.047% | $269K | $8.7M | 50x | as long as short |
| Paradex BTC-USD-PERP | +0.0100% | 8h | 85,300.3 | +0.005% | $5.7M | $9.5M | 50x | as long as short |
| Pacifica BTC | +0.0100% | 1h | 85,280.7 | −0.018% | $40.0M | $605.4M | 50x | as long as short |
| Binance BTCUSDT | +0.0100% | 8h | 85,264.5 | −0.037% | $9.39B | $25.17B | 150x | as long as short |
| OKX BTC-USDT-SWAP | +0.0100% | 8h | 85,265 | −0.036% | $2.60B | $12.26B | 100x | as long as short |
| Ondo Perps BTC-USD.P | +0.0100% | 1h | 85,276 | −0.023% | $3.8M | $17.3M | 25x | as long as short |
| Arcus BTC-USD | +0.0100% | 1h | 85,286.2 | −0.011% | $4.6M | $97.8M | 40x | as long as short |
| Bulk BTC-USDshort | +0.0100% | 1h | 85,256 | −0.047% | $695.2M | $190.7M | 40x | |
| Gate BTC_USDT | +0.0100% | 8h | 85,270.9 | −0.029% | $5.49B | $11.16B | 200x | as long as short |
| MEXC BTC_USDT | +0.0100% | 8h | 85,264.6 | −0.037% | $5.04B | $5.77B | 500x | as long as short |
| Bitget BTCUSDT | +0.0100% | 8h | 85,265.2 | −0.036% | $2.97B | $5.21B | 150x | as long as short |
| Backpack BTC_USDC_PERP | +0.0100% | 1h | 85,265 | −0.036% | $36.7M | $191.0M | 75x | as long as short |
| Variational Omni BTC | +0.0100% | 8h | 85,228.2 | −0.079% | $155.9M | $548.6M | — | as long as short |
| edgeX BTCUSDC | +0.0100% | 4h | 85,229.3 | −0.078% | $282.6M | $957.5M | 100x | as long as short |
| GRVT BTC_USDT_Perp | +0.0100% | 8h | 85,251.2 | −0.052% | $213.9M | $159.8M | 50x | as long as short |
| StandX BTC-USD | +0.0100% | 1h | 85,265.4 | −0.036% | $30.1M | $214.4M | 40x | as long as short |
| Vest BTC-PERP | +0.0100% | 1h | 85,340.5 | +0.052% | — | $10.3M | 50x | as long as short |
| Polymarket Perps BTC-USD | +0.0100% | 1h | 85,266 | −0.035% | $10.9M | $15.0M | 50x | as long as short |
| Bullet BTC-USD | +0.0100% | 1h | 85,270.7 | −0.030% | $197K | $3.3M | 20x | as long as short |
| Orderly PERP_BTC_USDC | +0.0100% | 8h | 85,273.1 | −0.027% | $2.6M | $9.7M | 100x | as long as short |
| Bluefin BTC-PERP | +0.0100% | 1h | 85,306 | +0.012% | $194K | $796K | 40x | as long as short |
| Derive BTC-PERP | +0.0100% | 1h | 85,301.3 | +0.006% | $28.8M | $47.0M | 15x | as long as short |
| SunX BTC-USDT | +0.0100% | 8h | 85,244.9 | −0.060% | $2.9M | $6.1M | 100x | as long as short |
| SoDEX BTC-USD | +0.0100% | 1h | 85,265 | −0.036% | $59.7M | $336.5M | 40x | as long as short |
| HTX BTC-USDT | +0.0100% | 8h | 85,263.2 | −0.038% | $2.25B | $974.1M | 200x | as long as short |
| Phemex BTCUSDT | +0.0100% | 8h | 85,264.5 | −0.037% | $158.9M | $515.9M | 150x | as long as short |
| Extended BTC-USD | +0.0104% | 1h | 85,243.4 | −0.062% | $45.4M | $240.7M | 50x | as long as short |
| Jupiter Perps WBTC-PERP | L +0.0104% / S +0.0056% | 1h | 85,273.9 | −0.026% | — | $106.7M | 500x | as long as short |
| Coinbase International BTC-PERP-INTX | +0.0104% | 1h | 85,309.1 | +0.015% | $111.8M | $5.46B | 50x | as long as short |
| Hyperliquid BTC | +0.0109% | 1h | 85,354.4 | +0.068% | $3.78B | $5.11B | 40x | as long as short |
| Deribit BTC-PERPETUAL | +0.0123% | 1h | 85,302.4 | +0.007% | $836.0M | $1.66B | 50x | as long as short |
| Reya BTCRUSDPERP | +0.0144% | 1h | 85,262.9 | −0.039% | $6.6M | $141.9M | 40x | as long as short |
| Kalshi KXBTCPERP | +0.0172% | 8h | 85,295 | −0.001% | $12.0M | $737.6M | 6.4x | as long as short |
| GMX BTC/USD [WBTC.b-USDC] | L +0.0174% / S −0.0146% | 1h | 85,269 | −0.032% | $13.0M | — | 200x | as long as short |
| RISEx BTC/USDClong | +0.0174% | 1h | 85,296 | long leg | $8.8M | $43.0M | 25x | |
| Hibachi BTC/USDT-P | +0.0280% | 1h | 85,311.2 | +0.018% | $696K | $7.7M | 30x | as long as short |
| Aftermath Perps BTCUSD | +0.0295% | 1h | 85,272.8 | −0.027% | $80K | $248K | 20x | as long as short |
| Perpl BTC | +0.0447% | 43m | 85,282.1 | −0.016% | $464K | $18.3M | 6.7x | as long as short |
Injective BTC/USDC PERP
Bybit BTCUSDT
Nado BTC-PERP
Lighter BTC
Lighter RH BTC
Popdex BTCUSDT
Aevo BTC-PERP
ApeX Omni BTCUSDT
Katana Perps BTC-USD
Paradex BTC-USD-PERP
Pacifica BTC
Binance BTCUSDT
OKX BTC-USDT-SWAP
Ondo Perps BTC-USD.P
Arcus BTC-USD
Gate BTC_USDT
MEXC BTC_USDT
Bitget BTCUSDT
Backpack BTC_USDC_PERP
Variational Omni BTC
edgeX BTCUSDC
GRVT BTC_USDT_Perp
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
SoDEX BTC-USD
HTX BTC-USDT
Phemex BTCUSDT
Extended BTC-USD
Jupiter Perps WBTC-PERP
Coinbase International BTC-PERP-INTX
Hyperliquid BTC
Deribit BTC-PERPETUAL
Reya BTCRUSDPERP
Kalshi KXBTCPERP
GMX BTC/USD [WBTC.b-USDC]
Hibachi BTC/USDT-P
Aftermath Perps BTCUSD
Perpl BTC