BTC

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0137%/8h= −15.0% APRnext payment −$0.17 per $10,000 · paid last 24h +0.015%

Price spread now: GMX against Aftermath Perps−0.048%7-day average +0.015% · you buy dearer than you sell

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

Long on Aftermath Perps Short on GMX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.027%+$3 on $10k

Price spread, last 4 days (all we have)+0.044%+$4 · spread now −0.048%, 7d avg +0.015%

Together, before fees+0.071%+$7 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$4 a day on $10k at the current rate, and GMX is 0.063% cheaper against Aftermath Perps than usual: you would sell low and buy high (−$6 if the spread goes back to its 7-day average of +0.015%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aftermath Perps BTCUSD	85,400.1	0.0285	pay 0.0036% / 1h	58m 35s	$79K	$246K	20x
Short	GMX BTC/USD [WBTC.b-USDC]	85,358.8	L +0.0175% / S −0.0147%	get 0.0018% / 1h	58m 35s	$13.0M	—	200x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against Aftermath Perps. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 Aftermath PerpsbpFee GMXbpOrdersPrice spread, now −0.048%Rate

Funding earned: −$28.79
Price spread: −0.048% → +0.015%: −$6.3
Slippage, 4 orders: no order book: not counted
Fee Aftermath Perps: 4.5 bp × 2 orders: −$9
Fee GMX: 6 bp × 2 orders: −$12
Net: −$56.09
Costs to cover: 0.210%
Break-even: never at this rate

Slippage unknown: Aftermath Perps: live order book, 51 min ago; GMX: 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 Aftermath Perps live order book, 51 min ago	0.14 bp	8.6 bp −$9	12.6 bp −$126	doesn't fit	doesn't fit
Sell GMX no order-book sample	—	—	—	—	—

GMX: 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 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	85,415	+0.017%	$2.3M	$10.3M	40x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	85,350	−0.059%	$8K	$3K	50x	as long as short
KuCoin XBTUSDTM	−0.0031%	8h	85,338.5	−0.072%	$928.4M	$773.2M	125x	as long as short
BloFin BTC-USDT	−0.0024%	8h	85,354.8	−0.053%	$421.0M	$680.8M	150x	as long as short
Aster BTCUSDT	−0.0005%	8h	85,337.9	−0.073%	$512.3M	$1.09B	200x	as long as short
dYdX BTC-USD	0.0000%	1h	85,384.6	−0.018%	$16.7M	$21.0M	50x	as long as short
Perpl BTC	0.0000%	43m	85,370.4	−0.035%	$491K	$18.3M	6.7x	as long as short
Deribit BTC-PERPETUAL	0.0000%	1h	85,380.3	−0.023%	$847.5M	$1.65B	50x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0004% / S −0.0004%	1h	85,360.2	−0.047%	$36.5M	—	200x	as long as short
Kraken Futures PF_XBTUSD	+0.0026%	1h	85,369.7	−0.036%	$185.7M	$951.6M	100x	as long as short

Show all 56 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
01 Exchange BTCUSD	+0.0032%	1h	85,368	−0.038%	$352K	$2.3M	50x	as long as short
Injective BTC/USDC PERP	+0.0067%	1h	85,367	−0.039%	$338K	$24.6M	52x	as long as short
BingX BTC-USDT	+0.0073%	8h	85,343.6	−0.066%	—	$1.57B	—	as long as short
Bybit BTCUSDT	+0.0089%	8h	85,336.8	−0.074%	$5.13B	$9.97B	150x	as long as short
Nado BTC-PERP	+0.0090%	1h	85,347.9	−0.061%	$24.1M	$219.6M	50x	as long as short
Bitget BTCUSDT	+0.0091%	8h	85,345.3	−0.064%	$2.96B	$5.16B	150x	as long as short
Lighter BTC	+0.0096%	1h	85,356.6	−0.051%	$169.7M	$1.01B	50x	as long as short
Lighter RH BTC	+0.0096%	1h	85,355.1	−0.053%	$23.5M	$147.3M	50x	as long as short
Popdex BTCUSDT	+0.0096%	1h	85,344	−0.066%	$8.4M	$57.2M	100x	as long as short
MEXC BTC_USDT	+0.0096%	8h	85,350.7	−0.058%	$5.03B	$5.70B	500x	as long as short
Aevo BTC-PERP	+0.0096%	1h	85,347.5	−0.062%	$2.4M	$6.7M	20x	as long as short
Binance BTCUSDT	+0.0096%	8h	85,347.7	−0.061%	$9.42B	$24.87B	150x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	85,322	−0.091%	$245K	$8.6M	50x	as long as short
Paradex BTC-USD-PERP	+0.0100%	8h	85,393.3	−0.008%	$5.8M	$9.5M	50x	as long as short
Hyperliquid BTC	+0.0100%	1h	85,420	+0.023%	$3.74B	$5.06B	40x	as long as short
Pacifica BTC	+0.0100%	1h	85,377.9	−0.026%	$39.9M	$605.4M	50x	as long as short
OKX BTC-USDT-SWAP	+0.0100%	8h	85,350.1	−0.059%	$2.60B	$12.18B	100x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	85,349	−0.060%	$3.8M	$17.1M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	85,346.7	−0.063%	$5.1M	$96.0M	40x	as long as short
Bulk BTC-USD	+0.0100%	1h	85,324.1	−0.089%	$690.8M	$302.3M	40x	as long as short
Gate BTC_USDT	+0.0100%	8h	85,349.2	−0.060%	$5.54B	$10.97B	200x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	85,340	−0.070%	$37.3M	$183.6M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	85,299.4	−0.118%	$156.2M	$556.9M	—	as long as short
edgeX BTCUSDC	+0.0100%	4h	85,330.6	−0.081%	$279.6M	$954.6M	100x	as long as short
GRVT BTC_USDT_Perp	+0.0100%	8h	85,342.1	−0.068%	$214.2M	$158.7M	50x	as long as short
ApeX Omni BTCUSDT	+0.0100%	1h	85,333.7	−0.078%	$139.5M	$313.1M	100x	as long as short
StandX BTC-USD	+0.0100%	1h	85,349	−0.060%	$30.1M	$207.9M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	85,405.9	+0.007%	—	$9.9M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	85,348	−0.061%	$11.0M	$14.7M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	85,354.8	−0.053%	$199K	$3.3M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	85,355	−0.053%	$2.6M	$9.8M	100x	as long as short
Bluefin BTC-PERP	+0.0100%	1h	85,388	−0.014%	$194K	$795K	40x	as long as short
Derive BTC-PERP	+0.0100%	1h	85,383.8	−0.019%	$30.0M	$46.1M	15x	as long as short
SunX BTC-USDT	+0.0100%	8h	85,360.6	−0.046%	$2.9M	$6.1M	100x	as long as short
SoDEX BTC-USD	+0.0100%	1h	85,355	−0.053%	$59.7M	$336.6M	40x	as long as short
HTX BTC-USDT	+0.0100%	8h	85,351.3	−0.057%	$2.26B	$963.3M	200x	as long as short
Phemex BTCUSDT	+0.0100%	8h	85,362.2	−0.044%	$157.5M	$512.7M	150x	as long as short
Extended BTC-USD	+0.0104%	1h	85,319.9	−0.094%	$45.2M	$240.1M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0056%	1h	85,354.2	−0.054%	—	$104.3M	500x	as long as short
Coinbase International BTC-PERP-INTX	+0.0104%	1h	85,386.2	−0.016%	$113.3M	$5.47B	50x	as long as short
Reya BTCRUSDPERP	+0.0135%	1h	85,337.7	−0.073%	$6.6M	$147.2M	40x	as long as short
Kalshi KXBTCPERP	+0.0173%	8h	85,376	−0.028%	$11.9M	$738.6M	6.4x	as long as short
RISEx BTC/USDC	+0.0174%	1h	85,372.8	−0.032%	$8.8M	$42.7M	25x	as long as short
GMX BTC/USD [WBTC.b-USDC]short	L +0.0175% / S −0.0147%	1h	85,358.8	−0.048%	$13.0M	—	200x
Hibachi BTC/USDT-P	+0.0200%	1h	85,384.9	−0.018%	$684K	$7.8M	30x	as long as short
Aftermath Perps BTCUSDlong	+0.0285%	1h	85,400.1	long leg	$79K	$246K	20x