# BTC funding rates and arbitrage

Updated 2026-10-29 23:15 UTC · https://afterfees.xyz/coin/BTC

## Best BTC arbitrage after every cost

| Coin | Pair | Long | Short | Net · 168 h | Net APR | Max size | Status |
|---|---|---|---|---|---|---|---|
| [BTC](https://afterfees.xyz/coin/BTC) | Perp ↔ perp | [GRVT](https://afterfees.xyz/venues/grvt) BTC_USDT_Perp | [BingX](https://afterfees.xyz/venues/bingx) BTC-USDT | — | — | — | Watch |
| [BTC](https://afterfees.xyz/coin/BTC) | Perp ↔ perp | [GRVT](https://afterfees.xyz/venues/grvt) BTC_USDT_Perp | [HTX](https://afterfees.xyz/venues/htx) BTC-USDT | — | — | — | Watch |
| [BTC](https://afterfees.xyz/coin/BTC) | Perp ↔ perp | [GRVT](https://afterfees.xyz/venues/grvt) BTC_USDT_Perp | [Bitget](https://afterfees.xyz/venues/bitget) BTCUSDT | — | — | — | Watch |
| [BTC](https://afterfees.xyz/coin/BTC) | Perp ↔ perp | [GRVT](https://afterfees.xyz/venues/grvt) BTC_USDT_Perp | [KuCoin](https://afterfees.xyz/venues/kucoin) XBTUSDTM | — | — | — | Watch |
| [BTC](https://afterfees.xyz/coin/BTC) | Perp ↔ perp | [GRVT](https://afterfees.xyz/venues/grvt) BTC_USDT_Perp | [BloFin](https://afterfees.xyz/venues/blofin) BTC-USDT | — | — | — | Watch |
| [BTC](https://afterfees.xyz/coin/BTC) | Perp ↔ perp | [GRVT](https://afterfees.xyz/venues/grvt) BTC_USDT_Perp | [Aster](https://afterfees.xyz/venues/aster) BTCUSDT | — | — | — | Watch |

_At $10,000 per side, held 7 days, after taker fees, order-book slippage and carry._

## BTC funding rate on every exchange

| Exchange | Contract | Rate | Every | Annualised | Settled 7d, annualised | Open interest | Next settlement |
|---|---|---|---|---|---|---|---|
| [Kraken](https://afterfees.xyz/venues/kraken) | PF_XBTUSD | 0.0041% | 1 h | +36.2% | +12.4% | $217.8M | 2026-10-30 00:00 |
| [Bitfinex](https://afterfees.xyz/venues/bitfinex) | tBTCF0:USTF0 | 0.0169% | 8 h | +18.5% | — | $734M | 2026-10-30 00:00 |
| [Hibachi](https://afterfees.xyz/venues/hibachi) | BTC/USDT-P | 0.0019% | 1 h | +16.6% | +21.9% | $618.7K | 2026-10-30 00:00 |
| [RISEx](https://afterfees.xyz/venues/risex) | BTC/USDC | 0.0019% | 1 h | +16.5% | — | $17.8M | 2026-10-30 00:00 |
| [Crypto.com](https://afterfees.xyz/venues/cryptocom) | BTCUSD-PERP | 0.0018% | 1 h | +15.7% | +7.0% | $486.7M | 2026-10-30 00:00 |
| [Coinbase Derivatives](https://afterfees.xyz/venues/coinbaseus) | BIP-20DEC30-CDE | 0.0014% | 1 h | +12.3% | — | $157.6M | 2026-10-30 00:00 |
| [Extended](https://afterfees.xyz/venues/extended) | BTC-USD | 0.0013% | 1 h | +11.4% | +11.4% | $48M | 2026-10-30 00:00 |
| [BloFin](https://afterfees.xyz/venues/blofin) | BTC-USDT | 0.0100% | 8 h | +11.0% | +19.9% | $333.6M | 2026-10-30 00:00 |
| [Ondo Perps](https://afterfees.xyz/venues/ondo) | BTC-USD.P | 0.0013% | 1 h | +10.9% | — | $5.2M | 2026-10-29 18:00 |
| [Phemex](https://afterfees.xyz/venues/phemex) | BTCUSDC | 0.0100% | 8 h | +10.9% | — | $56.6M | 2026-10-30 00:00 |
| [Phemex](https://afterfees.xyz/venues/phemex) | BTCUSDT | 0.0100% | 8 h | +10.9% | — | $186.2M | 2026-10-30 00:00 |
| [KuCoin](https://afterfees.xyz/venues/kucoin) | XBTUSDTM | 0.0100% | 8 h | +10.9% | +8.4% | $779.9M | 2026-10-30 00:00 |
| [Arcus](https://afterfees.xyz/venues/arcus) | BTC-USD | 0.0013% | 1 h | +10.9% | +9.8% | $14.8M | 2026-10-30 00:00 |
| [Nado](https://afterfees.xyz/venues/nado) | BTC-PERP_USDT0 | 0.0013% | 1 h | +10.9% | — | $10.8M | 2026-10-30 00:00 |
| [Bulk](https://afterfees.xyz/venues/bulk) | BTC-USD | 0.0013% | 1 h | +10.9% | — | $2.3M | 2026-10-30 00:00 |
| [PopDEX](https://afterfees.xyz/venues/popdex) | BTCUSDT | 0.0013% | 1 h | +10.9% | +11.0% | $51.6M | 2026-10-30 00:00 |
| [Bitunix](https://afterfees.xyz/venues/bitunix) | BTCUSDC | 0.0100% | 8 h | +10.9% | +8.1% | — | 2026-10-30 00:00 |
| [WhiteBIT](https://afterfees.xyz/venues/whitebit) | BTC_PERP | 0.0100% | 8 h | +10.9% | +10.7% | $1.5B | 2026-10-30 00:00 |
| [Backpack](https://afterfees.xyz/venues/backpack) | BTC_USDC_PERP | 0.0013% | 1 h | +10.9% | +11.0% | $44.8M | 2026-10-30 00:00 |
| [Pacifica](https://afterfees.xyz/venues/pacifica) | BTC | 0.0013% | 1 h | +10.9% | +11.0% | $36.1M | 2026-10-30 00:00 |
| [ApeX](https://afterfees.xyz/venues/apex) | BTC-USDT | 0.0013% | 1 h | +10.9% | +8.0% | $128.6M | 2026-10-30 00:00 |
| [StandX](https://afterfees.xyz/venues/standx) | BTC-USD | 0.0013% | 1 h | +10.9% | — | $633.5K | 2026-10-30 00:00 |
| [OKX](https://afterfees.xyz/venues/okx) | BTC-USDT-SWAP | 0.0100% | 8 h | +10.9% | +8.6% | $2.6B | 2026-10-30 00:00 |
| [Bitget](https://afterfees.xyz/venues/bitget) | BTCUSDT | 0.0100% | 8 h | +10.9% | +8.2% | $3B | 2026-10-30 00:00 |
| [HTX](https://afterfees.xyz/venues/htx) | BTC-USDT | 0.0100% | 8 h | +10.9% | +6.6% | $1.4B | 2026-10-30 00:00 |
| [BingX](https://afterfees.xyz/venues/bingx) | BTC-USDT | 0.0100% | 8 h | +10.9% | +10.2% | $978.3M | 2026-10-30 00:00 |
| [Bullet](https://afterfees.xyz/venues/bullet) | BTC-USD | 0.0013% | 1 h | +10.9% | — | $1.4M | 2026-10-30 00:00 |
| [Gate](https://afterfees.xyz/venues/gate) | BTC_USDT | 0.0100% | 8 h | +10.9% | +7.5% | $2.2B | 2026-10-30 00:00 |
| [Hyperliquid](https://afterfees.xyz/venues/hyperliquid) | BTC | 0.0013% | 1 h | +10.9% | +10.4% | $3.5B | 2026-10-30 00:00 |
| [Katana Perps](https://afterfees.xyz/venues/katana) | BTC-USD | 0.0098% | 8 h | +10.7% | +11.0% | $124.4K | 2026-10-30 00:00 |
| [Paradex](https://afterfees.xyz/venues/paradex) | BTC-USD-PERP | 0.0096% | 8 h | +10.5% | — | $5.4M | 2026-10-30 00:00 |
| [Lighter RH](https://afterfees.xyz/venues/lighterrh) | BTC | 0.0012% | 1 h | +10.5% | +9.3% | $15.2M | 2026-10-30 00:00 |
| [Lighter](https://afterfees.xyz/venues/lighter) | BTC | 0.0012% | 1 h | +10.5% | +10.4% | $169.5M | 2026-10-30 00:00 |
| [dYdX](https://afterfees.xyz/venues/dydx) | BTC-USD | 0.0012% | 1 h | +10.2% | +4.3% | $18.9M | 2026-10-30 00:00 |
| [Velocity](https://afterfees.xyz/venues/velocity) | BTC-PERP | 0.0011% | 1 h | +9.2% | — | $13.2K | 2026-10-30 00:01 |
| [Bybit](https://afterfees.xyz/venues/bybit) | BTCUSDT | 0.0081% | 8 h | +8.9% | +6.3% | $5.3B | 2026-10-30 00:00 |
| [Variational](https://afterfees.xyz/venues/variational) | BTC-PERP | 0.0070% | 8 h | +7.6% | — | $84.7M | 2026-10-30 00:00 |
| [Aster](https://afterfees.xyz/venues/aster) | BTCUSDT | 0.0066% | 8 h | +7.2% | +10.3% | $501.2M | 2026-10-30 00:00 |
| [WOO X](https://afterfees.xyz/venues/woox) | PERP_BTC_USDT | 0.0025% | 8 h | +2.7% | +7.6% | $16.6M | 2026-10-30 00:00 |
| [LBank](https://afterfees.xyz/venues/lbank) | BTCUSDT | 0.0025% | 8 h | +2.7% | — | — | 2026-10-30 00:00 |
| [Binance](https://afterfees.xyz/venues/binance) | BTCUSDT | 0.0025% | 8 h | +2.7% | +7.6% | $7.4B | 2026-10-30 00:00 |
| [MEXC](https://afterfees.xyz/venues/mexc) | BTC_USDT | 0.0025% | 8 h | +2.7% | +7.6% | $3.9B | 2026-10-30 00:00 |
| [Bitunix](https://afterfees.xyz/venues/bitunix) | BTCUSDT | 0.0020% | 8 h | +2.2% | +7.7% | — | 2026-10-30 00:00 |
| [Phoenix](https://afterfees.xyz/venues/phoenix) | BTC | 0.0001% | 1 h | +0.8% | +16.5% | — | 2026-10-30 00:00 |
| [Perpl](https://afterfees.xyz/venues/perpl) | BTC | 0.0000% | 0.7166666666666666666666666667 h | 0.0% | — | $718.9K | — |
| [GRVT](https://afterfees.xyz/venues/grvt) | BTC_USDT_Perp | -0.0060% | 8 h | −6.6% | +11.0% | $198M | 2026-10-30 00:00 |
| [TXFlow](https://afterfees.xyz/venues/txflow) | BTC-USDC | -0.0008% | 1 h | −7.0% | — | $23.3M | 2026-10-29 22:00 |

## Borrow BTC to sell spot

| Exchange | Borrow APR | Per-account limit |
|---|---|---|
| Bitget | 0.21% | — |
| Binance | 0.43% | — |
| Bybit | 0.43% | — |
| OKX | 0.51% | — |
| Gate | 0.64% | $120M |

## Lock BTC funding on Pendle Boros

| Market | Maturity | Net locked | Floating, same term | Advantage |
|---|---|---|---|---|
| [Hyperliquid](https://afterfees.xyz/fixed-floating/241) | 2026-12-25 | 7.71% | 7.52% | +0.19% |
| [Lighter](https://afterfees.xyz/fixed-floating/215) | 2026-11-27 | 7.64% | 6.67% | +0.97% |
| [Hyperliquid](https://afterfees.xyz/fixed-floating/229) | 2026-12-25 | 7.53% | 7.52% | +0.01% |
| [Lighter](https://afterfees.xyz/fixed-floating/239) | 2026-12-25 | 7.16% | 6.48% | +0.68% |
| [OKX](https://afterfees.xyz/fixed-floating/223) | 2026-11-27 | 6.34% | 3.71% | +2.64% |
| [KuCoin](https://afterfees.xyz/fixed-floating/224) | 2026-11-27 | 6.09% | 3.13% | +2.96% |

## Cost to enter $10,000 of BTC

| Exchange | Contract | Fee + slippage | Source |
|---|---|---|---|
| Lighter | BTC | 0.3 bp | order-book snapshot, 32 min old |
| Variational | BTC-PERP | 0.5 bp | exchange size quote (RFQ) |
| Lighter RH | BTC | 0.7 bp | order-book snapshot, 25 min old |
| MEXC | BTC_USDT | 2.0 bp | order-book snapshot, 57 min old |
| Extended | BTC-USD | 2.6 bp | order-book snapshot, 21 min old |
| Nado | BTC-PERP_USDT0 | 3.6 bp | order-book snapshot, 23 min old |
| Aster | BTCUSDT | 4.0 bp | order-book snapshot, 34 min old |
| GRVT | BTC_USDT_Perp | 4.5 bp | live order book |
| Hyperliquid | BTC | 4.6 bp | order-book snapshot, 48 min old |
| Backpack | BTC_USDC_PERP | 5.0 bp * | order-book snapshot, 40 min old |
| Binance | BTCUSDT | 5.0 bp | live order book |
| OKX | BTC-USDT-SWAP | 5.0 bp | live order book |

_Taker fee plus slippage of a market buy of $10,000 from the mid price, at standard (VIP0) fees. * fee estimated: the exchange publishes no fee schedule without an account._

## More on BTC

- [Borrow BTC: rates on every exchange](https://afterfees.xyz/borrow/BTC)

## Questions

**Is BTC funding-rate arbitrage profitable right now?**

Not at $10,000 per side for 7 days: no BTC pair shows a verified profit after fees and order-book slippage right now. Rates change every hour; the live page re-ranks continuously.

**Which exchange has the highest BTC funding rate?**

Kraken at +36.2% a year (0.0041% every 1 h); the lowest is TXFlow at −7.0%. A positive rate is paid by longs to shorts, a negative one by shorts to longs.

_The method behind every number on AfterFees is published; Pro opens each figure into its line-by-line calculation. Estimates from current data, not investment advice. We never hold funds or trade for you._