BTC

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC+0.0063%/8h= +6.9% APRnext payment +$0.08 per $10,000 · paid last 24h −0.019%

Price spread now: Reya against StandX+0.003%178s7-day average −0.033% · you sell dearer than you buy

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

Long on StandX Short on Reya

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.006%−$1 on $10k

Price spread, last 7 days−0.040%−$4 · spread now +0.003%, 7d avg −0.033%

Together, before fees−0.046%+ Points / potential airdropStandX: Active · Reya: Active · farm board−$5 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and Reya is 0.036% dearer against StandX than usual: you sell high and buy low: +$4 more if the spread goes back to its 7-day average of −0.033%. The two prices were read 178 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	StandX BTC-USD	86,074.5	0.0100	pay 0.0013% / 1h	47m 40s	$30.3M	$223.5M	40x
Short	Reya BTCRUSDPERP	86,077.4	0.0163	get 0.0020% / 1h	47m 40s	$6.6M	$131.1M	40x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Reya 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 ReyabpOrdersPrice spread, now +0.003%Rate

Funding earned: $13.27
Price spread: +0.003% → −0.033%: $3.6
Slippage, 4 orders: no order book: not counted
Fee StandX: 4 bp × 2 orders: −$8
Fee Reya: 3 bp × 2 orders: −$6
Net: $2.87
Costs to cover: 0.140%
Break-even: 5.5 days

Slippage unknown: StandX: live order book, 5 min ago; Reya: 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 StandX live order book, 5 min ago	0.64 bp	5.8 bp −$6	6.7 bp −$67	7.8 bp −$776	9.4 bp −$4,675
Sell Reya no order-book sample	—	—	—	—	—

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	+0.060%	$2.1M	$7.8M	40x	as long as short
ApeX Omni BTCUSDT	−0.0103%	1h	86,098.5	+0.028%	$137.8M	$295.3M	100x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	86,197	+0.142%	$8K	$2K	50x	as long as short
01 Exchange BTCUSD	−0.0040%	1h	86,032.6	−0.049%	$362K	$2.0M	50x	as long as short
BloFin BTC-USDT	−0.0021%	8h	86,047.9	−0.031%	$422.6M	$563.8M	150x	as long as short
SoDEX BTC-USD	−0.0007%	1h	86,065	−0.011%	$65.9M	$187.9M	40x	as long as short
dYdX BTC-USD	0.0000%	1h	86,061.8	−0.015%	$16.9M	$14.5M	50x	as long as short
Perpl BTC	0.0000%	43m	86,057.4	−0.020%	$476K	$13.8M	6.7x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0004% / S −0.0004%	1h	86,067.7	−0.008%	$36.8M	—	200x	as long as short
Injective BTC/USDC PERP	+0.0009%	1h	86,114	+0.046%	$301K	$26.2M	52x	as long as short

Show all 55 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster BTCUSDT	+0.0027%	8h	86,030.8	−0.051%	$512.8M	$873.8M	200x	as long as short
BingX BTC-USDC	+0.0028%	8h	86,047.9	−0.031%	—	$16.3M	—	as long as short
Kraken Futures PF_XBTUSD	+0.0029%	1h	86,089.3	+0.017%	$191.6M	$768.3M	100x	as long as short
Bybit BTCUSDT	+0.0040%	8h	86,030.2	−0.051%	$5.14B	$8.13B	150x	as long as short
KuCoin XBTUSDTM	+0.0054%	8h	86,075.5	+0.001%	$943.7M	$633.5M	125x	as long as short
Gate BTC_USDT	+0.0063%	8h	86,072.2	−0.003%	$5.52B	$8.90B	200x	as long as short
Popdex BTCUSDT	+0.0072%	1h	86,027	−0.055%	$8.5M	$45.6M	100x	as long as short
Phemex BTCUSDT	+0.0092%	8h	86,076	+0.002%	$170.8M	$478.8M	150x	as long as short
Bitget BTCUSDT	+0.0093%	8h	86,060.6	−0.016%	$2.99B	$3.96B	150x	as long as short
HTX BTC-USDT	+0.0094%	8h	86,058.8	−0.018%	$2.27B	$803.8M	200x	as long as short
Lighter BTC	+0.0096%	1h	86,092.7	+0.021%	$173.9M	$854.9M	50x	as long as short
Lighter RH BTC	+0.0096%	1h	86,095.1	+0.024%	$23.4M	$119.1M	50x	as long as short
Aevo BTC-PERP	+0.0096%	1h	86,046.3	−0.033%	$2.4M	$6.7M	20x	as long as short
MEXC BTC_USDT	+0.0098%	8h	86,073.3	−0.001%	$5.17B	$4.83B	500x	as long as short
Binance BTCUSDT	+0.0098%	8h	86,037.4	−0.043%	$9.45B	$20.51B	150x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	86,015	−0.069%	$218K	$8.1M	50x	as long as short
Paradex BTC-USD-PERP	+0.0100%	8h	86,115.5	+0.048%	$6.0M	$7.6M	50x	as long as short
Nado BTC-PERP	+0.0100%	1h	86,038.4	−0.042%	$23.5M	$195.5M	50x	as long as short
Pacifica BTC	+0.0100%	1h	86,115.3	+0.047%	$40.1M	$571.2M	50x	as long as short
OKX BTC-USDT-SWAP	+0.0100%	8h	86,069.5	−0.006%	$2.62B	$9.50B	100x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	86,034	−0.047%	$4.0M	$15.0M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	86,061.3	−0.015%	$4.2M	$90.7M	40x	as long as short
Bulk BTC-USD	+0.0100%	1h	86,169.3	+0.110%	$716.4M	$134.3M	40x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	86,059.6	−0.017%	$38.2M	$195.5M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	86,070.8	−0.004%	$156.6M	$475.5M	—	as long as short
edgeX BTCUSDC	+0.0100%	4h	86,058.2	−0.019%	$289.8M	$814.4M	100x	as long as short
GRVT BTC_USDT_Perp	+0.0100%	8h	86,097	+0.026%	$216.3M	$133.7M	50x	as long as short
StandX BTC-USDlong	+0.0100%	1h	86,074.5	long leg	$30.3M	$223.5M	40x
Vest BTC-PERP	+0.0100%	1h	86,099.5	+0.029%	—	$9.2M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	86,059	−0.018%	$11.1M	$12.0M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	86,056	−0.021%	$205K	$3.2M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	86,057.7	−0.019%	$2.6M	$8.9M	100x	as long as short
Bluefin BTC-PERP	+0.0100%	1h	86,107.1	+0.038%	$195K	$563K	40x	as long as short
SunX BTC-USDT	+0.0100%	8h	86,045.9	−0.033%	$3.3M	$6.7M	100x	as long as short
Extended BTC-USD	+0.0104%	1h	86,029.1	−0.053%	$46.9M	$203.1M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0056%	1h	86,063.4	−0.013%	—	$81.6M	500x	as long as short
Coinbase International BTC-PERP-INTX	+0.0120%	1h	86,120.6	+0.054%	$112.3M	$4.97B	50x	as long as short
Hyperliquid BTC	+0.0159%	1h	86,173	+0.114%	$3.97B	$4.36B	40x	as long as short
Kalshi KXBTCPERP	+0.0160%	8h	86,069	−0.006%	$12.0M	$733.9M	6.4x	as long as short
Reya BTCRUSDPERPshort	+0.0163%	1h	86,077.4	+0.003%	$6.6M	$131.1M	40x
RISEx BTC/USDC	+0.0187%	1h	86,058.6	−0.018%	$8.9M	$37.0M	25x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0211% / S −0.0252%	1h	86,082.2	+0.009%	$15.6M	—	200x	as long as short
Deribit BTC-PERPETUAL	+0.0291%	1h	86,125.8	+0.060%	$822.9M	$1.50B	50x	as long as short
Hibachi BTC/USDT-P	+0.0352%	1h	86,119	+0.052%	$725K	$7.0M	30x	as long as short
Aftermath Perps BTCUSD	+0.0446%	1h	86,115.2	+0.047%	$79K	$245K	20x	as long as short