BTC

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0280%/8h= −30.7% APRnext payment −$0.35 per $10,000 · paid last 24h −0.068%

Price spread now: Jupiter Perps against Deribit−0.063%7-day average −0.040% · you buy dearer than you sell

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

Long on Deribit Short on Jupiter Perps

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.180%−$18 on $10k

Price spread, last 4 days (all we have)+0.163%+$16 · spread now −0.063%, 7d avg −0.040%

Together, before fees−0.017%−$2 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$8 a day on $10k at the current rate, and Jupiter Perps is 0.022% cheaper against Deribit than usual: you would sell low and buy high (−$2 if the spread goes back to its 7-day average of −0.040%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit BTC-PERPETUAL	85,525.3	0.0224	pay 0.0028% / 1h	39m 40s	$828.1M	$1.66B	50x
Short	Jupiter Perps WBTC-PERP	85,471.6	L +0.0104% / S +0.0056%	pay 0.0007% / 1h	39m 40s	—	$107.4M	500x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Jupiter Perps against Deribit. 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 DeribitbpFee Jupiter PerpsbpOrdersPrice spread, now −0.063%Rate

Funding earned: −$58.85
Price spread: −0.063% → −0.040%: −$2.24
Slippage, 4 orders: no order book: not counted
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Jupiter Perps: 6 bp × 2 orders: −$12
Net: −$80.1
Costs to cover: 0.190%
Break-even: never at this rate

Slippage unknown: Deribit: live order book, 5 min ago; Jupiter Perps: 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 Deribit live order book, 5 min ago	0.03 bp	3.6 bp −$4	3.9 bp −$39	7.1 bp −$708	14.5 bp −$7,264
Sell Jupiter Perps no order-book sample	—	—	—	—	—

Jupiter Perps: 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
Bluefin BTC-PERP	−0.2316%	1h	85,499.6	−0.030%	$194K	$796K	40x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	85,432	−0.109%	$8K	$2K	50x	as long as short
BloFin BTC-USDT	−0.0020%	8h	85,434.1	−0.107%	$422.8M	$681.7M	150x	as long as short
Injective BTC/USDC PERP	−0.0006%	1h	85,495	−0.035%	$307K	$24.2M	52x	as long as short
01 Exchange BTCUSD	0.0000%	1h	85,505.1	−0.024%	$346K	$2.3M	50x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0004% / S −0.0004%	1h	85,459.5	−0.077%	$36.5M	—	200x	as long as short
KuCoin XBTUSDTM	+0.0012%	8h	85,476.6	−0.057%	$931.8M	$776.4M	125x	as long as short
Aster BTCUSDT	+0.0031%	8h	85,478.2	−0.055%	$502.9M	$1.08B	200x	as long as short
dYdX BTC-USD	+0.0055%	1h	85,468.3	−0.067%	$16.7M	$21.0M	50x	as long as short
Kraken Futures PF_XBTUSD	+0.0068%	1h	85,503.9	−0.025%	$186.4M	$946.8M	100x	as long as short

Show all 56 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phoenix BTC	+0.0075%	1h	85,525	0.000%	$2.3M	$10.4M	40x	as long as short
BingX BTC-USDC	+0.0080%	8h	85,480	−0.053%	—	$17.4M	—	as long as short
Lighter BTC	+0.0096%	1h	85,501.6	−0.028%	$170.5M	$943.5M	50x	as long as short
Lighter RH BTC	+0.0096%	1h	85,512.2	−0.015%	$23.6M	$134.1M	50x	as long as short
Popdex BTCUSDT	+0.0096%	1h	85,442	−0.097%	$8.7M	$58.5M	100x	as long as short
Aevo BTC-PERP	+0.0096%	1h	85,444.1	−0.095%	$2.4M	$6.7M	20x	as long as short
Nado BTC-PERP	+0.0100%	1h	85,440.5	−0.099%	$24.0M	$217.5M	50x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	85,471	−0.063%	$266K	$8.8M	50x	as long as short
Paradex BTC-USD-PERP	+0.0100%	8h	85,526.8	+0.002%	$5.7M	$9.6M	50x	as long as short
Pacifica BTC	+0.0100%	1h	85,522.9	−0.003%	$40.5M	$604.9M	50x	as long as short
Binance BTCUSDT	+0.0100%	8h	85,495.5	−0.035%	$9.41B	$25.10B	150x	as long as short
Bybit BTCUSDT	+0.0100%	8h	85,494.3	−0.036%	$5.09B	$9.99B	150x	as long as short
OKX BTC-USDT-SWAP	+0.0100%	8h	85,497.9	−0.032%	$2.61B	$12.21B	100x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	85,515	−0.012%	$3.9M	$17.4M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	85,511.4	−0.016%	$4.6M	$97.5M	40x	as long as short
Bulk BTC-USD	+0.0100%	1h	85,453	−0.085%	$700.3M	$171.9M	40x	as long as short
Gate BTC_USDT	+0.0100%	8h	85,499.4	−0.030%	$5.51B	$9.88B	200x	as long as short
MEXC BTC_USDT	+0.0100%	8h	85,492.6	−0.038%	$5.05B	$5.73B	500x	as long as short
Bitget BTCUSDT	+0.0100%	8h	85,491	−0.040%	$2.99B	$5.17B	150x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	85,481.2	−0.052%	$37.8M	$193.7M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	85,426.7	−0.115%	$156.0M	$543.6M	—	as long as short
edgeX BTCUSDC	+0.0100%	4h	85,469.8	−0.065%	$283.4M	$962.5M	100x	as long as short
GRVT BTC_USDT_Perp	+0.0100%	8h	85,417.2	−0.126%	$214.5M	$154.9M	50x	as long as short
ApeX Omni BTCUSDT	+0.0100%	1h	85,478.7	−0.054%	$136.6M	$312.4M	100x	as long as short
StandX BTC-USD	+0.0100%	1h	85,483.9	−0.048%	$30.1M	$218.7M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	85,521.7	−0.004%	—	$10.3M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	85,230	−0.345%	$10.9M	$14.8M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	85,451	−0.087%	$198K	$3.3M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	85,455.5	−0.082%	$2.7M	$9.9M	100x	as long as short
SunX BTC-USDT	+0.0100%	8h	85,481.1	−0.052%	$2.9M	$6.7M	100x	as long as short
SoDEX BTC-USD	+0.0100%	1h	85,480	−0.053%	$59.8M	$336.5M	40x	as long as short
HTX BTC-USDT	+0.0100%	8h	85,470	−0.065%	$2.26B	$974.1M	200x	as long as short
Phemex BTCUSDT	+0.0100%	8h	85,488.7	−0.043%	$161.5M	$517.6M	150x	as long as short
Extended BTC-USD	+0.0104%	1h	85,468.5	−0.066%	$45.8M	$241.5M	50x	as long as short
Jupiter Perps WBTC-PERPshort	L +0.0104% / S +0.0056%	1h	85,471.6	−0.063%	—	$107.4M	500x
Coinbase International BTC-PERP-INTX	+0.0112%	1h	85,522.5	−0.003%	$111.6M	$5.46B	50x	as long as short
Reya BTCRUSDPERP	+0.0148%	1h	85,432.3	−0.109%	$6.6M	$138.7M	40x	as long as short
Derive BTC-PERP	+0.0161%	1h	85,508.7	−0.019%	$28.9M	$52.4M	15x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0174% / S −0.0148%	1h	85,504.8	−0.024%	$13.0M	—	200x	as long as short
Hyperliquid BTC	+0.0175%	1h	85,562	+0.043%	$3.84B	$5.13B	40x	as long as short
Kalshi KXBTCPERP	+0.0191%	8h	85,486	−0.046%	$10.6M	$738.3M	6.4x	as long as short
RISEx BTC/USDC	+0.0194%	1h	85,514.6	−0.012%	$8.9M	$42.6M	25x	as long as short
Deribit BTC-PERPETUALlong	+0.0224%	1h	85,525.3	long leg	$828.1M	$1.66B	50x
Aftermath Perps BTCUSD	+0.0307%	1h	85,506.9	−0.021%	$81K	$248K	20x	as long as short
Hibachi BTC/USDT-P	+0.0352%	1h	85,487.4	−0.044%	$688K	$7.7M	30x	as long as short
Perpl BTC	+0.0447%	43m	85,478.6	−0.055%	$467K	$18.3M	6.7x	as long as short