BTC

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0012%/8h= +1.3% APRnext payment +$0.01 per $10,000 · paid last 24h +0.021%

Price spread now: Coinbase International against SoDEX+0.046%7-day average +0.048% · you sell dearer than you buy

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−$180.181% of the position

Long on SoDEX Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.043%+$4 on $10k

Price spread, last 4 days (all we have)−0.004%$0 · spread now +0.046%, 7d avg +0.048%

Together, before fees+0.038%+$4 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.048%, so right now this pair is about funding alone: $0 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SoDEX BTC-USD	85,432	0.0100	pay 0.0013% / 1h	40m 53s	$59.8M	$336.5M	40x
Short	Coinbase International BTC-PERP-INTX	85,471	0.0112	get 0.0014% / 1h	40m 53s	$111.7M	$5.45B	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against SoDEX. 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 SoDEXbpFee Coinbase InternationalbpOrdersPrice spread, now +0.046%Rate

Funding earned: $2.52
Price spread: +0.046% → +0.048%: −$0.21
Slippage, 4 orders: −$0.13
Fee SoDEX: 4 bp × 2 orders: −$8
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$15.82
Costs to cover: 0.181%
Break-even: 50.9 days

Slippage from SoDEX: live order book, 3 min ago; Coinbase International: 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 SoDEX live order book, 3 min ago	0.06 bp	4.1 bp −$4	4.1 bp −$41	5.1 bp −$507	43.4 bp −$21.7K
Sell Coinbase International live order book, 3 min ago	0.01 bp	5.0 bp −$5	5.0 bp −$50	5.2 bp −$524	10.2 bp −$5,122

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
Bluefin BTC-PERP	−0.2490%	1h	85,448.6	+0.019%	$194K	$796K	40x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	85,478	+0.054%	$8K	$2K	50x	as long as short
BloFin BTC-USDT	−0.0020%	8h	85,434.1	+0.002%	$422.8M	$681.7M	150x	as long as short
Injective BTC/USDC PERP	−0.0006%	1h	85,495	+0.074%	$307K	$24.2M	52x	as long as short
01 Exchange BTCUSD	0.0000%	1h	85,463.3	+0.037%	$346K	$2.3M	50x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0004% / S −0.0004%	1h	85,439.7	+0.009%	$36.5M	—	200x	as long as short
KuCoin XBTUSDTM	+0.0012%	8h	85,453	+0.025%	$931.5M	$776.2M	125x	as long as short
Aster BTCUSDT	+0.0031%	8h	85,454.2	+0.026%	$502.4M	$1.08B	200x	as long as short
dYdX BTC-USD	+0.0054%	1h	85,468.3	+0.043%	$16.7M	$21.0M	50x	as long as short
Kraken Futures PF_XBTUSD	+0.0068%	1h	85,446.8	+0.017%	$186.2M	$947.1M	100x	as long as short

Show all 56 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phoenix BTC	+0.0075%	1h	85,525	+0.109%	$2.3M	$10.4M	40x	as long as short
BingX BTC-USDC	+0.0080%	8h	85,445.1	+0.015%	—	$17.4M	—	as long as short
Lighter BTC	+0.0096%	1h	85,447.2	+0.018%	$170.3M	$943.2M	50x	as long as short
Lighter RH BTC	+0.0096%	1h	85,444.5	+0.015%	$23.6M	$134.0M	50x	as long as short
Popdex BTCUSDT	+0.0096%	1h	85,444	+0.014%	$8.7M	$58.5M	100x	as long as short
Aevo BTC-PERP	+0.0096%	1h	85,428.6	−0.004%	$2.4M	$6.7M	20x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	85,417	−0.018%	$267K	$8.7M	50x	as long as short
Paradex BTC-USD-PERP	+0.0100%	8h	85,494	+0.073%	$5.7M	$9.6M	50x	as long as short
Nado BTC-PERP	+0.0100%	1h	85,437.1	+0.006%	$24.1M	$217.6M	50x	as long as short
Pacifica BTC	+0.0100%	1h	85,479.1	+0.055%	$40.1M	$605.5M	50x	as long as short
Binance BTCUSDT	+0.0100%	8h	85,455.9	+0.028%	$9.41B	$25.10B	150x	as long as short
Bybit BTCUSDT	+0.0100%	8h	85,460	+0.033%	$5.09B	$9.99B	150x	as long as short
OKX BTC-USDT-SWAP	+0.0100%	8h	85,462.5	+0.036%	$2.61B	$12.21B	100x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	85,444	+0.014%	$3.9M	$17.4M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	85,462.9	+0.036%	$4.7M	$97.5M	40x	as long as short
Bulk BTC-USD	+0.0100%	1h	85,453	+0.025%	$700.3M	$171.9M	40x	as long as short
Gate BTC_USDT	+0.0100%	8h	85,465.1	+0.039%	$5.51B	$9.88B	200x	as long as short
MEXC BTC_USDT	+0.0100%	8h	85,456.9	+0.029%	$5.06B	$5.73B	500x	as long as short
Bitget BTCUSDT	+0.0100%	8h	85,457.6	+0.030%	$2.98B	$5.17B	150x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	85,433.3	+0.002%	$37.8M	$193.7M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	85,465.7	+0.040%	$156.0M	$544.2M	—	as long as short
edgeX BTCUSDC	+0.0100%	4h	85,469.8	+0.044%	$283.4M	$962.5M	100x	as long as short
GRVT BTC_USDT_Perp	+0.0100%	8h	85,417.2	−0.017%	$214.5M	$154.9M	50x	as long as short
ApeX Omni BTCUSDT	+0.0100%	1h	85,478.7	+0.055%	$136.6M	$312.4M	100x	as long as short
StandX BTC-USD	+0.0100%	1h	85,483.9	+0.061%	$30.1M	$218.7M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	85,522.5	+0.106%	—	$10.1M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	85,230	−0.236%	$10.9M	$14.8M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	85,441	+0.011%	$198K	$3.3M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	85,439.4	+0.009%	$2.7M	$9.9M	100x	as long as short
SunX BTC-USDT	+0.0100%	8h	85,441.3	+0.011%	$2.9M	$6.7M	100x	as long as short
SoDEX BTC-USDlong	+0.0100%	1h	85,432	long leg	$59.8M	$336.5M	40x
HTX BTC-USDT	+0.0100%	8h	85,444.2	+0.014%	$2.26B	$974.4M	200x	as long as short
Phemex BTCUSDT	+0.0100%	8h	85,440.4	+0.010%	$161.4M	$517.6M	150x	as long as short
Extended BTC-USD	+0.0104%	1h	85,435.8	+0.004%	$45.8M	$241.5M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0056%	1h	85,472	+0.047%	—	$107.4M	500x	as long as short
Coinbase International BTC-PERP-INTXshort	+0.0112%	1h	85,471	+0.046%	$111.7M	$5.45B	50x
Reya BTCRUSDPERP	+0.0148%	1h	85,428.9	−0.004%	$6.6M	$138.9M	40x	as long as short
Derive BTC-PERP	+0.0161%	1h	85,508.7	+0.090%	$28.9M	$52.4M	15x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0174% / S −0.0148%	1h	85,504.8	+0.085%	$13.0M	—	200x	as long as short
Hyperliquid BTC	+0.0177%	1h	85,521	+0.104%	$3.83B	$5.20B	40x	as long as short
Kalshi KXBTCPERP	+0.0191%	8h	85,480	+0.056%	$10.6M	$738.2M	6.4x	as long as short
RISEx BTC/USDC	+0.0194%	1h	85,463	+0.036%	$8.9M	$42.6M	25x	as long as short
Deribit BTC-PERPETUAL	+0.0199%	1h	85,481.9	+0.058%	$828.2M	$1.66B	50x	as long as short
Aftermath Perps BTCUSD	+0.0302%	1h	85,503.9	+0.084%	$81K	$248K	20x	as long as short
Hibachi BTC/USDT-P	+0.0352%	1h	85,536.9	+0.123%	$688K	$7.7M	30x	as long as short
Perpl BTC	+0.0447%	43m	85,472.2	+0.047%	$467K	$18.3M	6.7x	as long as short