BTC

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC+0.0145%/8h= +15.9% APRnext payment +$0.18 per $10,000 · paid last 24h +0.022%

Price spread now: Deribit against StandX−0.009%7-day average +0.058% · you buy dearer than you sell

Net, funding: paid 7d − costs−$21as in the Funding arb table

Net, price: spread back to 7d avg − costs−$27as in the Price arb table

costs, in and out, $10k−$200.203% of the position

Long on StandX Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.010%−$1 on $10k

Price spread, last 4 days (all we have)−0.012%−$1 · spread now −0.009%, 7d avg +0.058%

Together, before fees−0.021%+ Points / potential airdropStandX: Active · farm board−$2 on $10k · with fees, hour by hour

Funding pays, the price is against you. Deribit is 0.067% cheaper against StandX than usual: you would sell low and buy high (spread −0.009% now, against its 7-day average of +0.058%). If the spread goes back, that is −$7 on $10k: about 37 hours of funding at the current rate (+$4 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	StandX BTC-USD	86,151	0.0100	pay 0.0013% / 1h	52m 08s	$30.3M	$222.8M	40x
Short	Deribit BTC-PERPETUAL	86,143.2	0.0245	get 0.0031% / 1h	52m 08s	$822.7M	$1.50B	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against StandX. 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 StandXbpFee DeribitbpOrdersPrice spread, now −0.009%Rate

Funding earned: $30.55
Price spread: −0.009% → +0.058%: −$6.7
Slippage, 4 orders: −$5.33
Fee StandX: 4 bp × 2 orders: −$8
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: $3.52
Costs to cover: 0.203%
Break-even: 6.2 days

Slippage from StandX: live order book, 5 min ago; Deribit: live order book, 5 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 StandX live order book, 5 min ago	0.75 bp	5.4 bp −$5	6.1 bp −$61	7.6 bp −$758	8.9 bp −$4,441
Sell Deribit live order book, 5 min ago	0.75 bp	4.3 bp −$4	4.5 bp −$45	6.6 bp −$655	14.5 bp −$7,273

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	−0.029%	$2.0M	$7.8M	40x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	86,197	+0.053%	$8K	$2K	50x	as long as short
01 Exchange BTCUSD	−0.0024%	1h	86,076.4	−0.087%	$363K	$2.0M	50x	as long as short
BloFin BTC-USDT	−0.0020%	8h	86,091.8	−0.069%	$421.2M	$564.2M	150x	as long as short
SoDEX BTC-USD	0.0000%	1h	86,097	−0.063%	$65.9M	$187.9M	40x	as long as short
dYdX BTC-USD	0.0000%	1h	86,064.4	−0.101%	$16.9M	$14.6M	50x	as long as short
Perpl BTC	0.0000%	43m	86,108.2	−0.050%	$481K	$13.8M	6.7x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0004% / S −0.0004%	1h	86,111.6	−0.046%	$36.8M	—	200x	as long as short
Injective BTC/USDC PERP	+0.0009%	1h	86,214	+0.073%	$301K	$26.1M	52x	as long as short
Aster BTCUSDT	+0.0028%	8h	86,085.8	−0.076%	$513.2M	$875.3M	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	−0.043%	$191.3M	$770.3M	100x	as long as short
BingX BTC-USDC	+0.0030%	8h	86,078.4	−0.084%	—	$16.3M	—	as long as short
Bybit BTCUSDT	+0.0036%	8h	86,100	−0.059%	$5.14B	$8.14B	150x	as long as short
ApeX Omni BTCUSDT	+0.0037%	1h	86,155.8	+0.006%	$137.8M	$295.3M	100x	as long as short
KuCoin XBTUSDTM	+0.0054%	8h	86,091.3	−0.069%	$943.1M	$634.7M	125x	as long as short
Gate BTC_USDT	+0.0063%	8h	86,103.2	−0.055%	$5.52B	$8.88B	200x	as long as short
Popdex BTCUSDT	+0.0072%	1h	86,073	−0.091%	$8.8M	$45.3M	100x	as long as short
Phemex BTCUSDT	+0.0088%	8h	86,088.5	−0.073%	$170.6M	$479.1M	150x	as long as short
Bitget BTCUSDT	+0.0095%	8h	86,097.5	−0.062%	$2.99B	$3.97B	150x	as long as short
Lighter BTC	+0.0096%	1h	86,103.5	−0.055%	$173.8M	$852.8M	50x	as long as short
Lighter RH BTC	+0.0096%	1h	86,105.8	−0.052%	$23.4M	$119.0M	50x	as long as short
Aevo BTC-PERP	+0.0096%	1h	86,069.3	−0.095%	$2.4M	$6.7M	20x	as long as short
HTX BTC-USDT	+0.0097%	8h	86,076.7	−0.086%	$2.27B	$805.8M	200x	as long as short
Binance BTCUSDT	+0.0099%	8h	86,098.7	−0.061%	$9.46B	$20.58B	150x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	86,048	−0.120%	$218K	$8.1M	50x	as long as short
Paradex BTC-USD-PERP	+0.0100%	8h	86,112	−0.045%	$6.0M	$7.6M	50x	as long as short
Nado BTC-PERP	+0.0100%	1h	86,059.5	−0.106%	$23.5M	$196.0M	50x	as long as short
Pacifica BTC	+0.0100%	1h	86,101.8	−0.057%	$40.4M	$570.0M	50x	as long as short
OKX BTC-USDT-SWAP	+0.0100%	8h	86,107.4	−0.051%	$2.62B	$9.51B	100x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	86,063	−0.102%	$4.0M	$15.1M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	86,105.1	−0.053%	$4.2M	$90.6M	40x	as long as short
Bulk BTC-USD	+0.0100%	1h	86,169.3	+0.021%	$716.4M	$134.3M	40x	as long as short
MEXC BTC_USDT	+0.0100%	8h	86,097.7	−0.062%	$5.17B	$4.82B	500x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	86,092	−0.068%	$38.7M	$196.3M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	86,125.5	−0.030%	$158.0M	$474.6M	—	as long as short
edgeX BTCUSDC	+0.0100%	4h	86,136.3	−0.017%	$290.0M	$813.0M	100x	as long as short
GRVT BTC_USDT_Perp	+0.0100%	8h	86,151.9	+0.001%	$216.4M	$133.7M	50x	as long as short
StandX BTC-USDlong	+0.0100%	1h	86,151	long leg	$30.3M	$222.8M	40x
Vest BTC-PERP	+0.0100%	1h	86,134.7	−0.019%	—	$9.4M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	86,077	−0.086%	$11.0M	$12.0M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	86,093.8	−0.066%	$205K	$3.2M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	86,080.1	−0.082%	$2.7M	$8.9M	100x	as long as short
Bluefin BTC-PERP	+0.0100%	1h	86,127.2	−0.028%	$195K	$564K	40x	as long as short
SunX BTC-USDT	+0.0100%	8h	86,061.2	−0.104%	$3.2M	$6.6M	100x	as long as short
Extended BTC-USD	+0.0104%	1h	86,062.9	−0.102%	$47.0M	$203.3M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0056%	1h	86,101.5	−0.057%	—	$81.7M	500x	as long as short
Coinbase International BTC-PERP-INTX	+0.0120%	1h	86,143.8	−0.008%	$112.3M	$4.98B	50x	as long as short
Kalshi KXBTCPERP	+0.0159%	8h	86,102	−0.057%	$11.9M	$733.1M	6.4x	as long as short
Hyperliquid BTC	+0.0163%	1h	86,191	+0.046%	$3.97B	$4.36B	40x	as long as short
Reya BTCRUSDPERP	+0.0163%	1h	86,062.8	−0.102%	$6.6M	$131.1M	40x	as long as short
RISEx BTC/USDC	+0.0187%	1h	86,098.7	−0.061%	$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	−0.058%	$15.6M	—	200x	as long as short
Deribit BTC-PERPETUALshort	+0.0245%	1h	86,143.2	−0.009%	$822.7M	$1.50B	50x
Hibachi BTC/USDT-P	+0.0352%	1h	86,160	+0.010%	$727K	$7.0M	30x	as long as short
Aftermath Perps BTCUSD	+0.0450%	1h	86,144.6	−0.007%	$79K	$245K	20x	as long as short