Funding you earn now, next payment 00:00 UTC+0.0051%/8h= +5.6% APRnext payment +$0.51 per $10,000 · paid last 24h +0.010%
Price spread now: Orderly against Binance+0.050%7-day average −0.001% · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 7 days+0.059%+$6 on $10k
+Price spread, last 3 days (all we have)−0.087%−$9 · spread now +0.050%, 7d avg −0.001%
=Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and Orderly is 0.051% dearer against Binance than usual: you sell high and buy low: +$5 more if the spread goes back to its 7-day average of −0.001%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Binance BTCUSDT | 86,611.4 | 0.0048 | pay 0.0048% / 8h | 2h 48m | $9.43B | $24.35B | 150x |
| Short | Orderly PERP_BTC_USDC | 86,655.1 | 0.0099 | get 0.0099% / 8h | 2h 48m | $2.5M | $8.5M | 100x |
Binance BTCUSDT
Orderly PERP_BTC_USDCFunding history
latest
Range statsloading…
Price spread between the two exchanges
Orderly against Binance. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- $10.72
- Price spread: +0.050% → −0.001%
- $5.12
- Slippage, 4 orders
- no order book: not counted
- Fee Binance: 5 bp × 2 orders
- −$10
- Fee Orderly: 3 bp × 2 orders
- −$6
- Net
- −$0.15
- Costs to cover
- 0.160%
- Break-even
- 7.1 days
Slippage unknown: Binance: live order book, 11 min ago; Orderly: 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 Binance live order book, 11 min ago | 0.01 bp | 5.0 bp −$5 | 5.0 bp −$50 | 5.3 bp −$533 | 7.3 bp −$3,630 |
| Sell Orderly no order-book sample | — | — | — | — | — |
Orderly: 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 | |
|---|---|---|---|---|---|---|---|---|
| Perpl BTC | −0.0335% | 43m | 86,644.7 | +0.038% | $426K | $25.1M | 6.7x | as long as short |
| Aftermath Perps BTCUSD | −0.0203% | 1h | 86,688.4 | +0.089% | $85K | $188K | 20x | as long as short |
| Phoenix BTC | −0.0103% | 1h | 86,701 | +0.103% | $2.2M | $12.4M | 40x | as long as short |
| dYdX BTC-USD | −0.0094% | 1h | 86,651.2 | +0.046% | $18.0M | $20.0M | 50x | as long as short |
| Hotstuff BTC-PERP | −0.0080% | 1h | 86,576 | −0.041% | $9K | $3K | 50x | as long as short |
| KuCoin XBTUSDTM | −0.0002% | 8h | 86,618.4 | +0.008% | $845.9M | $709.4M | 125x | as long as short |
| 01 Exchange BTCUSD | 0.0000% | 1h | 86,651.1 | +0.046% | $361K | $2.5M | 50x | as long as short |
| Deribit BTC-PERPETUAL | 0.0000% | 1h | 86,675.2 | +0.074% | $938.9M | $1.43B | 50x | as long as short |
| gTrade (Gains Network) BTC/USD | L +0.0005% / S −0.0005% | 1h | 86,661.7 | +0.058% | $36.7M | — | 200x | as long as short |
| Aster BTCUSDT | +0.0012% | 8h | 86,605.8 | −0.006% | $505.7M | $1.16B | 200x | as long as short |
Perpl BTC
Aftermath Perps BTCUSD
Phoenix BTC
dYdX BTC-USD
Hotstuff BTC-PERP
KuCoin XBTUSDTM
01 Exchange BTCUSD
Deribit BTC-PERPETUAL
gTrade (Gains Network) BTC/USD
Aster BTCUSDTShow all 56 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| BingX BTC-USDT | +0.0020% | 8h | 86,627.8 | +0.019% | — | $1.59B | — | as long as short |
| Reya BTCRUSDPERP | +0.0021% | 1h | 86,635 | +0.027% | $6.8M | $144.0M | 40x | as long as short |
| Phemex BTCUSDT | +0.0023% | 8h | 86,637 | +0.030% | $149.1M | $470.1M | 150x | as long as short |
| Bitget BTCUSDT | +0.0027% | 8h | 86,602.3 | −0.011% | $2.94B | $5.07B | 150x | as long as short |
| MEXC BTC_USDT | +0.0047% | 8h | 86,631.6 | +0.023% | $5.19B | $5.64B | 500x | as long as short |
| Aevo BTC-PERP | +0.0048% | 1h | 86,635.8 | +0.028% | $2.4M | $1.3M | 20x | as long as short |
| Binance BTCUSDTlong | +0.0048% | 8h | 86,611.4 | long leg | $9.43B | $24.35B | 150x | |
| Injective BTC/USDC PERP | +0.0049% | 1h | 86,732 | +0.139% | $315K | $26.8M | 52x | as long as short |
| OKX BTC-USDT-SWAP | +0.0061% | 8h | 86,608.9 | −0.003% | $2.57B | $12.70B | 100x | as long as short |
| RISEx BTC/USDC | +0.0063% | 1h | 86,642.7 | +0.036% | $9.2M | $42.1M | 25x | as long as short |
| Gate BTC_USDT | +0.0066% | 8h | 86,631.2 | +0.023% | $5.86B | $10.58B | 200x | as long as short |
| Bybit BTCUSDT | +0.0079% | 8h | 86,606.1 | −0.006% | $5.28B | $9.70B | 150x | as long as short |
| Variational Omni BTC | +0.0088% | 8h | 86,626.8 | +0.018% | $159.8M | $564.2M | — | as long as short |
| Lighter BTC | +0.0096% | 1h | 86,645.5 | +0.039% | $171.9M | $1.01B | 50x | as long as short |
| Lighter RH BTC | +0.0096% | 1h | 86,653.9 | +0.049% | $24.0M | $152.8M | 50x | as long as short |
| GRVT BTC_USDT_Perp | +0.0096% | 8h | 86,635.2 | +0.027% | $217.5M | $189.0M | 50x | as long as short |
| Popdex BTCUSDT | +0.0096% | 1h | 86,624 | +0.015% | $8.5M | $52.1M | 100x | as long as short |
| Orderly PERP_BTC_USDCshort | +0.0099% | 8h | 86,655.1 | +0.050% | $2.5M | $8.5M | 100x | |
| Paradex BTC-USD-PERP | +0.0100% | 8h | 86,682.9 | +0.083% | $4.8M | $8.2M | 50x | as long as short |
| Katana Perps BTC-USD | +0.0100% | 8h | 86,621 | +0.011% | $200K | $6.8M | 50x | as long as short |
| Nado BTC-PERP | +0.0100% | 1h | 86,601.1 | −0.012% | $21.8M | $237.1M | 50x | as long as short |
| Hyperliquid BTC | +0.0100% | 1h | 86,699 | +0.101% | $3.83B | $5.10B | 40x | as long as short |
| Pacifica BTC | +0.0100% | 1h | 86,657.2 | +0.053% | $41.0M | $485.8M | 50x | as long as short |
| Ondo Perps BTC-USD.P | +0.0100% | 1h | 86,636 | +0.028% | $3.9M | $18.8M | 25x | as long as short |
| Arcus BTC-USD | +0.0100% | 1h | 86,706.9 | +0.110% | $7.4M | $95.7M | 40x | as long as short |
| Bulk BTC-USD | +0.0100% | 1h | 86,665 | +0.062% | $572.2M | $23.5M | 40x | as long as short |
| Backpack BTC_USDC_PERP | +0.0100% | 1h | 86,637.4 | +0.030% | $38.2M | $148.1M | 75x | as long as short |
| edgeX BTCUSDC | +0.0100% | 4h | 86,704.2 | +0.107% | $280.1M | $946.6M | 100x | as long as short |
| ApeX Omni BTCUSDT | +0.0100% | 1h | 86,636.4 | +0.029% | $141.8M | $322.7M | 100x | as long as short |
| StandX BTC-USD | +0.0100% | 1h | 86,575.6 | −0.041% | $30.8M | $206.0M | 40x | as long as short |
| Vest BTC-PERP | +0.0100% | 1h | 86,686.9 | +0.087% | — | $11.6M | 50x | as long as short |
| Polymarket Perps BTC-USD | +0.0100% | 1h | 86,645 | +0.039% | $11.0M | $13.7M | 50x | as long as short |
| Bullet BTC-USD | +0.0100% | 1h | 86,634.8 | +0.027% | $198K | $3.4M | 20x | as long as short |
| Bluefin BTC-PERP | +0.0100% | 1h | 86,663.2 | +0.060% | $141K | $619K | 40x | as long as short |
| Derive BTC-PERP | +0.0100% | 1h | 86,642.6 | +0.036% | $30.0M | $61.5M | 15x | as long as short |
| SunX BTC-USDT | +0.0100% | 8h | 86,630.5 | +0.022% | $3.4M | $5.6M | 100x | as long as short |
| SoDEX BTC-USD | +0.0100% | 1h | 86,634 | +0.026% | $60.5M | $336.5M | 40x | as long as short |
| HTX BTC-USDT | +0.0100% | 8h | 86,631.4 | +0.023% | $2.30B | $955.7M | 200x | as long as short |
| Extended BTC-USD | +0.0104% | 1h | 86,591.7 | −0.023% | $46.5M | $229.0M | 50x | as long as short |
| Jupiter Perps WBTC-PERP | L +0.0104% / S +0.0048% | 1h | 86,652.1 | +0.047% | — | $98.4M | 500x | as long as short |
| Kalshi KXBTCPERP | +0.0109% | 8h | 86,664 | +0.061% | $8.8M | $723.2M | 6.4x | as long as short |
| Kraken Futures PF_XBTUSD | +0.0116% | 1h | 86,675.8 | +0.074% | $192.0M | $927.3M | 100x | as long as short |
| Coinbase International BTC-PERP-INTX | +0.0120% | 1h | 86,683 | +0.083% | $132.0M | $5.89B | 50x | as long as short |
| BloFin BTC-USDT | +0.0168% | 8h | 86,592.1 | −0.022% | $418.0M | $642.6M | 150x | as long as short |
| GMX BTC/USD [WBTC.b-USDC] | L +0.0181% / S −0.0198% | 1h | 86,654.6 | +0.050% | $15.4M | — | 200x | as long as short |
| Hibachi BTC/USDT-P | +0.0208% | 1h | 86,618.9 | +0.009% | $601K | $7.2M | 30x | as long as short |
BingX BTC-USDT
Reya BTCRUSDPERP
Phemex BTCUSDT
Bitget BTCUSDT
MEXC BTC_USDT
Aevo BTC-PERP
Injective BTC/USDC PERP
OKX BTC-USDT-SWAP
RISEx BTC/USDC
Gate BTC_USDT
Bybit BTCUSDT
Variational Omni BTC
Lighter BTC
Lighter RH BTC
GRVT BTC_USDT_Perp
Popdex BTCUSDT
Paradex BTC-USD-PERP
Katana Perps BTC-USD
Nado BTC-PERP
Hyperliquid BTC
Pacifica BTC
Ondo Perps BTC-USD.P
Arcus BTC-USD
Bulk BTC-USD
Backpack BTC_USDC_PERP
edgeX BTCUSDC
ApeX Omni BTCUSDT
StandX BTC-USD
Vest BTC-PERP
Polymarket Perps BTC-USD
Bullet BTC-USD
Bluefin BTC-PERP
Derive BTC-PERP
SunX BTC-USDT
SoDEX BTC-USD
HTX BTC-USDT
Extended BTC-USD
Jupiter Perps WBTC-PERP
Kalshi KXBTCPERP
Kraken Futures PF_XBTUSD
Coinbase International BTC-PERP-INTX
BloFin BTC-USDT
GMX BTC/USD [WBTC.b-USDC]
Hibachi BTC/USDT-P