BTC

Alert: funding

Alert: spread

Funding you earn now, next payment 20:00 UTC+0.0042%/8h= +4.6% APRnext payment +$0.05 per $10,000 · paid last 24h +0.033%

Price spread now: Bullet against 01 Exchange−0.051%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−$24as in the Price arb table

costs, in and out, $10k−$180.179% of the position

Long on 01 Exchange Short on Bullet

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.108%+$11 on $10k

Price spread, last 7 days+0.073%+$7 · spread now −0.051%, 7d avg +0.008%

Together, before fees+0.181%+$18 on $10k · with fees, hour by hour

Funding pays, the price is against you. Bullet is 0.059% cheaper against 01 Exchange than usual: you would sell low and buy high (spread −0.051% now, against its 7-day average of +0.008%). If the spread goes back, that is −$6 on $10k: about 4.6 days of funding at the current rate (+$1 a day). At the pace of the last 4 days (+0.108% in total) that is about 2.2 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	01 Exchange BTCUSD	86,312.9	−0.0024	get 0.0003% / 1h	9m 45s	$361K	$1.5M	50x
Short	Bullet BTC-USD	86,269.2	0.0018	get 0.0002% / 1h	9m 45s	$216K	$3.1M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bullet 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 BulletbpOrdersPrice spread, now −0.051%Rate

Funding earned: $8.87
Price spread: −0.051% → +0.008%: −$5.89
Slippage, 4 orders: −$2.92
Fee 01 Exchange: 3.5 bp × 2 orders: −$7
Fee Bullet: 4 bp × 2 orders: −$8
Net: −$14.94
Costs to cover: 0.179%
Break-even: 18.8 days

Slippage from 01 Exchange: live order book, 2 min ago; Bullet: 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 01 Exchange live order book, 2 min ago	0.01 bp	3.7 bp −$4	14.2 bp −$142	doesn't fit	doesn't fit
Sell Bullet live order book, 3 min ago	0.12 bp	4.3 bp −$4	7.8 bp −$78	doesn't fit	doesn't fit

BTC on 56 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
Bluefin BTC-PERP	−0.0339%	1h	86,340.1	+0.032%	$143K	$590K	40x	as long as short
Perpl BTC	−0.0223%	43m	86,323.1	+0.012%	$592K	$11.9M	6.7x	as long as short
Phoenix BTC	−0.0204%	1h	86,331	+0.021%	$2.3M	$5.7M	40x	as long as short
ApeX Omni BTCUSDT	−0.0164%	1h	86,306.9	−0.007%	$140.4M	$272.5M	100x	as long as short
BloFin BTC-USDT	−0.0153%	8h	86,287.3	−0.030%	$428.6M	$380.3M	150x	as long as short
SoDEX BTC-USD	−0.0113%	1h	86,275	−0.044%	$65.7M	$83.5M	40x	as long as short
KuCoin XBTUSDTM	−0.0100%	8h	86,271.7	−0.048%	$984.4M	$579.9M	125x	as long as short
Bulk BTC-USD	−0.0089%	1h	86,306.2	−0.008%	$724.0M	$28.8M	40x	as long as short
Aster BTCUSDT	−0.0089%	8h	86,300.8	−0.014%	$505.5M	$466.2M	200x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	86,270	−0.050%	$8K	$440	50x	as long as short

Show all 56 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Kraken Futures PF_XBTUSD	−0.0065%	1h	86,340.1	+0.031%	$196.3M	$561.7M	100x	as long as short
Extended BTC-USD	−0.0056%	1h	86,303.8	−0.011%	$50.3M	$131.6M	50x	as long as short
dYdX BTC-USD	−0.0050%	1h	86,333.3	+0.024%	$17.1M	$9.3M	50x	as long as short
Binance BTCUSDT	−0.0040%	8h	86,299.5	−0.016%	$9.27B	$15.80B	150x	as long as short
Aevo BTC-PERP	−0.0040%	1h	86,289.1	−0.028%	$2.4M	$7.2M	20x	as long as short
MEXC BTC_USDT	−0.0038%	8h	86,300.5	−0.014%	$5.35B	$3.91B	500x	as long as short
BingX BTC-USDC	−0.0038%	8h	86,317.1	+0.005%	—	$15.0M	—	as long as short
Bitget BTCUSDT	−0.0037%	8h	86,304.2	−0.010%	$2.99B	$3.11B	150x	as long as short
RISEx BTC/USDC	−0.0033%	1h	86,317.6	+0.005%	$9.4M	$31.9M	25x	as long as short
Popdex BTCUSDT	−0.0032%	1h	86,276	−0.043%	$9.0M	$35.8M	100x	as long as short
Phemex BTCUSDT	−0.0029%	8h	86,273.6	−0.046%	$185.1M	$447.5M	150x	as long as short
HTX BTC-USDT	−0.0028%	8h	86,293.3	−0.023%	$2.27B	$505.8M	200x	as long as short
01 Exchange BTCUSDlong	−0.0024%	1h	86,312.9	long leg	$361K	$1.5M	50x
GRVT BTC_USDT_Perp	−0.0013%	8h	86,305.7	−0.008%	$216.8M	$134.9M	50x	as long as short
Variational Omni BTC	−0.0005%	8h	86,289.6	−0.027%	$160.7M	$382.9M	—	as long as short
Kalshi KXBTCPERP	0.0000%	8h	86,350	+0.043%	$14.3M	$702.9M	6.4x	as long as short
Deribit BTC-PERPETUAL	0.0000%	1h	86,345.6	+0.038%	$850.0M	$1.35B	50x	as long as short
OKX BTC-USDT-SWAP	+0.0004%	8h	86,311.8	−0.001%	$2.64B	$7.14B	100x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0004% / S −0.0004%	1h	86,321.7	+0.010%	$37.1M	—	200x	as long as short
StandX BTC-USD	+0.0014%	1h	86,271	−0.049%	$29.8M	$231.5M	40x	as long as short
Gate BTC_USDT	+0.0015%	8h	86,313.5	+0.001%	$5.46B	$7.31B	200x	as long as short
Bullet BTC-USDshort	+0.0018%	1h	86,269.2	−0.051%	$216K	$3.1M	20x
Nado BTC-PERP	+0.0034%	1h	86,277.6	−0.041%	$26.4M	$178.1M	50x	as long as short
Polymarket Perps BTC-USD	+0.0036%	1h	86,275	−0.044%	$11.0M	$9.9M	50x	as long as short
Injective BTC/USDC PERP	+0.0036%	1h	86,354	+0.048%	$309K	$28.6M	52x	as long as short
Arcus BTC-USD	+0.0042%	1h	86,277.4	−0.041%	$4.7M	$87.0M	40x	as long as short
Bybit BTCUSDT	+0.0049%	8h	86,312.4	−0.001%	$5.25B	$6.73B	150x	as long as short
Orderly PERP_BTC_USDC	+0.0069%	8h	86,289.6	−0.027%	$2.6M	$8.4M	100x	as long as short
SunX BTC-USDT	+0.0085%	8h	86,274.8	−0.044%	$2.9M	$6.9M	100x	as long as short
Aftermath Perps BTCUSD	+0.0093%	1h	86,353.5	+0.047%	$82K	$215K	20x	as long as short
Lighter BTC	+0.0096%	1h	86,299.8	−0.015%	$177.0M	$701.3M	50x	as long as short
Lighter RH BTC	+0.0096%	1h	86,284	−0.033%	$24.4M	$95.3M	50x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	86,281	−0.037%	$191K	$7.9M	50x	as long as short
Hyperliquid BTC	+0.0100%	1h	86,383	+0.081%	$4.02B	$3.07B	40x	as long as short
Pacifica BTC	+0.0100%	1h	86,325.8	+0.015%	$40.5M	$545.0M	50x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	86,324	+0.013%	$3.9M	$12.6M	25x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	86,292.4	−0.024%	$37.0M	$174.6M	75x	as long as short
edgeX BTCUSDC	+0.0100%	4h	86,334.5	+0.025%	$288.9M	$606.0M	100x	as long as short
Vest BTC-PERP	+0.0100%	1h	86,337.4	+0.028%	—	$9.2M	50x	as long as short
Derive BTC-PERP	+0.0100%	1h	86,359.3	+0.054%	$28.9M	$32.6M	15x	as long as short
Paradex BTC-USD-PERP	+0.0100%	8h	86,334.5	+0.025%	$6.0M	$6.1M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0056%	1h	86,317.3	+0.005%	—	$65.0M	500x	as long as short
Coinbase International BTC-PERP-INTX	+0.0112%	1h	86,361.8	+0.057%	$109.2M	$5.22B	50x	as long as short
Reya BTCRUSDPERP	+0.0140%	1h	86,258.1	−0.063%	$7.1M	$114.1M	40x	as long as short
Hibachi BTC/USDT-P	+0.0152%	1h	86,392	+0.092%	$847K	$6.2M	30x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0180% / S −0.0159%	1h	86,319.6	+0.008%	$16.9M	—	200x	as long as short