BTC

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0100%/8h= +10.9% APRnext payment +$0.13 per $10,000 · paid last 24h −0.116%

Price spread now: Bluefin against 01 Exchange+0.021%7-day average −0.033% · 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−$15as in the Price arb table

costs, in and out, $10k−$210.207% of the position

Long on 01 Exchange Short on Bluefin

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.333%−$33 on $10k

Price spread, last 4 days (all we have)−0.063%−$6 · spread now +0.021%, 7d avg −0.033%

Together, before fees−0.396%−$40 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and Bluefin is 0.054% dearer against 01 Exchange than usual: you sell high and buy low: +$5 more if the spread goes back to its 7-day average of −0.033%. Mind the row above: over the last 4 days funding on this pair cost −0.333%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	01 Exchange BTCUSD	85,279.2	0	get 0.0000% / 1h	47m 17s	$354K	$2.4M	50x
Short	Bluefin BTC-PERP	85,297.5	0.0100	get 0.0013% / 1h	47m 17s	$193K	$795K	40x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bluefin against 01 Exchange. 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 01 ExchangebpFee BluefinbpOrdersPrice spread, now +0.021%Rate

Funding earned: $21
Price spread: +0.021% → −0.033%: $5.42
Slippage, 4 orders: −$6.73
Fee 01 Exchange: 3.5 bp × 2 orders: −$7
Fee Bluefin: 3.5 bp × 2 orders: −$7
Net: $5.69
Costs to cover: 0.207%
Break-even: 5.1 days

Slippage from 01 Exchange: live order book, 2 min ago; Bluefin: live order book, 62 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 01 Exchange live order book, 2 min ago	0.02 bp	5.1 bp −$5	9.7 bp −$97	doesn't fit	doesn't fit
Sell Bluefin live order book, 62 min ago	1.33 bp	5.4 bp −$5	9.9 bp −$99	doesn't fit	doesn't fit

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	−0.0082%	1h	85,370	+0.106%	$2.1M	$10.4M	40x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	85,282	+0.003%	$8K	$3K	50x	as long as short
KuCoin XBTUSDTM	−0.0048%	8h	85,249.7	−0.035%	$926.3M	$772.4M	125x	as long as short
BloFin BTC-USDT	−0.0026%	8h	85,251.2	−0.033%	$421.3M	$683.5M	150x	as long as short
Aster BTCUSDT	−0.0011%	8h	85,256.4	−0.027%	$512.5M	$1.09B	200x	as long as short
dYdX BTC-USD	0.0000%	1h	85,295.6	+0.019%	$16.7M	$21.5M	50x	as long as short
01 Exchange BTCUSDlong	0.0000%	1h	85,279.2	long leg	$354K	$2.4M	50x
Perpl BTC	0.0000%	43m	85,274.8	−0.005%	$524K	$18.3M	6.7x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0004% / S −0.0004%	1h	85,270.8	−0.010%	$36.4M	—	200x	as long as short
Deribit BTC-PERPETUAL	+0.0040%	1h	85,297.5	+0.021%	$864.2M	$1.63B	50x	as long as short

Show all 56 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado BTC-PERP	+0.0043%	1h	85,282.1	+0.003%	$24.5M	$222.6M	50x	as long as short
Injective BTC/USDC PERP	+0.0057%	1h	85,405	+0.148%	$339K	$26.8M	52x	as long as short
ApeX Omni BTCUSDT	+0.0064%	1h	85,295.8	+0.019%	$139.4M	$314.6M	100x	as long as short
BingX BTC-USDC	+0.0070%	8h	85,237.9	−0.048%	—	$17.4M	—	as long as short
Bitget BTCUSDT	+0.0088%	8h	85,256.6	−0.027%	$2.95B	$5.18B	150x	as long as short
Kraken Futures PF_XBTUSD	+0.0089%	1h	85,270.3	−0.010%	$186.7M	$956.3M	100x	as long as short
Binance BTCUSDT	+0.0094%	8h	85,257.8	−0.025%	$9.42B	$24.99B	150x	as long as short
Phemex BTCUSDT	+0.0095%	8h	85,267.5	−0.014%	$150.1M	$508.7M	150x	as long as short
MEXC BTC_USDT	+0.0095%	8h	85,258.1	−0.025%	$5.01B	$5.74B	500x	as long as short
Lighter BTC	+0.0096%	1h	85,267.5	−0.014%	$170.0M	$1.02B	50x	as long as short
Lighter RH BTC	+0.0096%	1h	85,267.3	−0.014%	$23.6M	$147.5M	50x	as long as short
Popdex BTCUSDT	+0.0096%	1h	85,269	−0.012%	$8.3M	$56.0M	100x	as long as short
Aevo BTC-PERP	+0.0096%	1h	85,250.8	−0.033%	$2.4M	$6.7M	20x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	85,242	−0.044%	$238K	$8.6M	50x	as long as short
Paradex BTC-USD-PERP	+0.0100%	8h	85,330	+0.060%	$5.8M	$9.6M	50x	as long as short
Hyperliquid BTC	+0.0100%	1h	85,350	+0.083%	$3.74B	$5.09B	40x	as long as short
Pacifica BTC	+0.0100%	1h	85,304.7	+0.030%	$39.9M	$602.6M	50x	as long as short
Bybit BTCUSDT	+0.0100%	8h	85,246.9	−0.038%	$5.14B	$9.99B	150x	as long as short
OKX BTC-USDT-SWAP	+0.0100%	8h	85,251.7	−0.032%	$2.60B	$12.24B	100x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	85,267	−0.014%	$3.8M	$17.1M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	85,271.1	−0.009%	$4.6M	$98.6M	40x	as long as short
Gate BTC_USDT	+0.0100%	8h	85,266.2	−0.015%	$5.49B	$10.96B	200x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	85,256.1	−0.027%	$36.7M	$179.1M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	85,300.3	+0.025%	$155.0M	$558.9M	—	as long as short
edgeX BTCUSDC	+0.0100%	4h	85,293.8	+0.017%	$279.5M	$952.2M	100x	as long as short
GRVT BTC_USDT_Perp	+0.0100%	8h	85,305.3	+0.031%	$214.1M	$167.2M	50x	as long as short
StandX BTC-USD	+0.0100%	1h	85,333.2	+0.063%	$30.1M	$205.6M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	85,331.4	+0.061%	—	$10.9M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	85,264	−0.018%	$11.0M	$14.5M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	85,259	−0.024%	$204K	$3.3M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	85,262.1	−0.020%	$2.6M	$9.9M	100x	as long as short
Bluefin BTC-PERPshort	+0.0100%	1h	85,297.5	+0.021%	$193K	$795K	40x
Derive BTC-PERP	+0.0100%	1h	85,236.1	−0.051%	$29.9M	$47.9M	15x	as long as short
SunX BTC-USDT	+0.0100%	8h	85,248.3	−0.036%	$2.9M	$6.1M	100x	as long as short
SoDEX BTC-USD	+0.0100%	1h	85,259	−0.024%	$59.6M	$336.9M	40x	as long as short
HTX BTC-USDT	+0.0100%	8h	85,251.7	−0.032%	$2.25B	$968.9M	200x	as long as short
Bulk BTC-USD	+0.0100%	1h	85,294.8	+0.018%	$682.6M	$475.0M	40x	as long as short
Extended BTC-USD	+0.0104%	1h	85,233.1	−0.054%	$44.6M	$240.7M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0048%	1h	85,274.7	−0.005%	—	$106.9M	500x	as long as short
Coinbase International BTC-PERP-INTX	+0.0104%	1h	85,297.4	+0.021%	$116.9M	$5.46B	50x	as long as short
Reya BTCRUSDPERP	+0.0124%	1h	85,253.1	−0.031%	$6.6M	$147.6M	40x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0175% / S −0.0152%	1h	85,269.4	−0.012%	$13.0M	—	200x	as long as short
RISEx BTC/USDC	+0.0193%	1h	85,298.4	+0.023%	$8.7M	$43.2M	25x	as long as short
Kalshi KXBTCPERP	+0.0195%	8h	85,295	+0.019%	$11.5M	$742.8M	6.4x	as long as short
Hibachi BTC/USDT-P	+0.0240%	1h	85,327.4	+0.057%	$689K	$8.0M	30x	as long as short
Aftermath Perps BTCUSD	+0.0254%	1h	85,336.1	+0.067%	$79K	$229K	20x	as long as short