Funding you earn now, next payment 01:00 UTC+0.0081%/8h= +8.9% APRnext payment +$0.10 per $10,000 · paid last 24h −0.027%
Price spread now: Ondo Perps against Deribit−0.025%7-day average −0.046% · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 7 days+0.045%+$5 on $10k
+Price spread, last 3 days (all we have)−0.009%−$1 · spread now −0.025%, 7d avg −0.046%
=Together, before fees+0.036%+ Points / potential airdropOndo Perps: Active · farm board+$4 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and Ondo Perps is 0.021% dearer against Deribit than usual: you sell high and buy low: +$2 more if the spread goes back to its 7-day average of −0.046%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Deribit BTC-PERPETUAL | 86,454.2 | 0.0019 | pay 0.0002% / 1h | 39m 42s | $903.6M | $1.51B | 50x |
| Short | Ondo Perps BTC-USD.P | 86,433 | 0.0100 | get 0.0013% / 1h | 39m 42s | $3.9M | $17.9M | 25x |
Deribit BTC-PERPETUAL
Ondo Perps BTC-USD.PFunding history
latest
Range statsloading…
Price spread between the two exchanges
Ondo Perps against Deribit. 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
- $17.08
- Price spread: −0.025% → −0.046%
- $2.14
- Slippage, 4 orders
- no order book: not counted
- Fee Deribit: 3.5 bp × 2 orders
- −$7
- Fee Ondo Perps: 2.5 bp × 2 orders
- −$5
- Net
- $7.22
- Costs to cover
- 0.120%
- Break-even
- 4.0 days
Slippage unknown: Deribit: live order book, 4 min ago; Ondo 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, 4 min ago | 0.03 bp | 3.7 bp −$4 | 5.1 bp −$51 | 7.6 bp −$761 | 13.8 bp −$6,891 |
| Sell Ondo Perps no order-book sample | — | — | — | — | — |
Ondo 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 | |
|---|---|---|---|---|---|---|---|---|
| Phoenix BTC | −0.0129% | 1h | 86,448 | −0.007% | $2.2M | $11.2M | 40x | as long as short |
| Hotstuff BTC-PERP | −0.0080% | 1h | 86,422 | −0.037% | $9K | $3K | 50x | as long as short |
| 01 Exchange BTCUSD | −0.0032% | 1h | 86,397.5 | −0.066% | $361K | $2.4M | 50x | as long as short |
| Perpl BTC | 0.0000% | 43m | 86,409.8 | −0.051% | $479K | $21.9M | 6.7x | as long as short |
| gTrade (Gains Network) BTC/USD | L +0.0005% / S −0.0004% | 1h | 86,435.4 | −0.022% | $36.9M | — | 200x | as long as short |
| Deribit BTC-PERPETUALlong | +0.0019% | 1h | 86,454.2 | long leg | $903.6M | $1.51B | 50x | |
| Aster BTCUSDT | +0.0021% | 8h | 86,431 | −0.027% | $501.3M | $1.14B | 200x | as long as short |
| dYdX BTC-USD | +0.0022% | 1h | 86,402.9 | −0.059% | $16.9M | $20.5M | 50x | as long as short |
| Injective BTC/USDC PERP | +0.0023% | 1h | 86,616 | +0.187% | $333K | $26.9M | 52x | as long as short |
| Phemex BTCUSDT | +0.0037% | 8h | 86,415.4 | −0.045% | $153.8M | $475.3M | 150x | as long as short |
Phoenix BTC
Hotstuff BTC-PERP
01 Exchange BTCUSD
Perpl BTC
gTrade (Gains Network) BTC/USD
Aster BTCUSDT
dYdX BTC-USD
Injective BTC/USDC PERP
Phemex BTCUSDTShow all 56 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| KuCoin XBTUSDTM | +0.0037% | 8h | 86,430.8 | −0.027% | $831.1M | $723.5M | 125x | as long as short |
| Reya BTCRUSDPERP | +0.0043% | 1h | 86,412.8 | −0.048% | $6.7M | $145.7M | 40x | as long as short |
| BingX BTC-USDT | +0.0049% | 8h | 86,413.4 | −0.047% | — | $1.58B | — | as long as short |
| RISEx BTC/USDC | +0.0052% | 1h | 86,410.3 | −0.051% | $8.3M | $42.5M | 25x | as long as short |
| Bitget BTCUSDT | +0.0062% | 8h | 86,403.8 | −0.058% | $2.97B | $5.05B | 150x | as long as short |
| MEXC BTC_USDT | +0.0078% | 8h | 86,426.7 | −0.032% | $5.13B | $5.68B | 500x | as long as short |
| Binance BTCUSDT | +0.0078% | 8h | 86,426.9 | −0.032% | $9.41B | $24.39B | 150x | as long as short |
| Aevo BTC-PERP | +0.0080% | 1h | 86,400.6 | −0.062% | $2.5M | $1.7M | 20x | as long as short |
| Lighter BTC | +0.0096% | 1h | 86,440.8 | −0.016% | $170.3M | $984.2M | 50x | as long as short |
| Lighter RH BTC | +0.0096% | 1h | 86,447 | −0.008% | $23.7M | $149.0M | 50x | as long as short |
| Popdex BTCUSDT | +0.0096% | 1h | 86,387 | −0.078% | $8.4M | $52.0M | 100x | as long as short |
| Katana Perps BTC-USD | +0.0100% | 8h | 86,369 | −0.099% | $201K | $7.1M | 50x | as long as short |
| Paradex BTC-USD-PERP | +0.0100% | 8h | 86,435.9 | −0.021% | $4.6M | $8.5M | 50x | as long as short |
| Nado BTC-PERP | +0.0100% | 1h | 86,360.1 | −0.109% | $21.9M | $230.1M | 50x | as long as short |
| Hyperliquid BTC | +0.0100% | 1h | 86,492 | +0.044% | $3.80B | $4.99B | 40x | as long as short |
| Pacifica BTC | +0.0100% | 1h | 86,459 | +0.006% | $40.7M | $551.7M | 50x | as long as short |
| Bybit BTCUSDT | +0.0100% | 8h | 86,429.2 | −0.029% | $5.26B | $9.70B | 150x | as long as short |
| OKX BTC-USDT-SWAP | +0.0100% | 8h | 86,415.9 | −0.044% | $2.56B | $12.54B | 100x | as long as short |
| Ondo Perps BTC-USD.Pshort | +0.0100% | 1h | 86,433 | −0.025% | $3.9M | $17.9M | 25x | |
| Arcus BTC-USD | +0.0100% | 1h | 86,431.1 | −0.027% | $7.2M | $95.1M | 40x | as long as short |
| Gate BTC_USDT | +0.0100% | 8h | 86,418.3 | −0.042% | $5.82B | $10.52B | 200x | as long as short |
| Backpack BTC_USDC_PERP | +0.0100% | 1h | 86,427.6 | −0.031% | $37.5M | $156.0M | 75x | as long as short |
| Variational Omni BTC | +0.0100% | 8h | 86,351.7 | −0.119% | $158.4M | $564.0M | — | as long as short |
| edgeX BTCUSDC | +0.0100% | 4h | 86,429.4 | −0.029% | $279.2M | $949.5M | 100x | as long as short |
| GRVT BTC_USDT_Perp | +0.0100% | 8h | 86,468.6 | +0.017% | $217.0M | $165.5M | 50x | as long as short |
| ApeX Omni BTCUSDT | +0.0100% | 1h | 86,422.4 | −0.037% | $141.5M | $322.2M | 100x | as long as short |
| StandX BTC-USD | +0.0100% | 1h | 86,404 | −0.058% | $30.7M | $208.9M | 40x | as long as short |
| Vest BTC-PERP | +0.0100% | 1h | 86,441.1 | −0.015% | — | $11.8M | 50x | as long as short |
| Polymarket Perps BTC-USD | +0.0100% | 1h | 86,412 | −0.049% | $11.1M | $14.1M | 50x | as long as short |
| Bullet BTC-USD | +0.0100% | 1h | 86,420 | −0.040% | $192K | $3.3M | 20x | as long as short |
| Orderly PERP_BTC_USDC | +0.0100% | 8h | 86,422.7 | −0.036% | $2.5M | $8.9M | 100x | as long as short |
| Bluefin BTC-PERP | +0.0100% | 1h | 86,456.2 | +0.002% | $144K | $667K | 40x | as long as short |
| Derive BTC-PERP | +0.0100% | 1h | 86,447.6 | −0.008% | $30.5M | $62.5M | 15x | as long as short |
| SunX BTC-USDT | +0.0100% | 8h | 86,350 | −0.121% | $3.4M | $5.2M | 100x | as long as short |
| SoDEX BTC-USD | +0.0100% | 1h | 86,421 | −0.038% | $60.4M | $338.2M | 40x | as long as short |
| HTX BTC-USDT | +0.0100% | 8h | 86,400 | −0.063% | $2.29B | $963.6M | 200x | as long as short |
| Bulk BTC-USD | +0.0100% | 1h | 86,336.3 | −0.136% | $571.6M | $13.0M | 40x | as long as short |
| Extended BTC-USD | +0.0104% | 1h | 86,394.4 | −0.069% | $45.8M | $222.4M | 50x | as long as short |
| Jupiter Perps WBTC-PERP | L +0.0104% / S +0.0048% | 1h | 86,419.7 | −0.040% | — | $99.0M | 500x | as long as short |
| Coinbase International BTC-PERP-INTX | +0.0120% | 1h | 86,461.9 | +0.009% | $132.2M | $5.47B | 50x | as long as short |
| Kraken Futures PF_XBTUSD | +0.0121% | 1h | 86,455.8 | +0.002% | $192.3M | $943.7M | 100x | as long as short |
| Hibachi BTC/USDT-P | +0.0160% | 1h | 86,468 | +0.016% | $712K | $8.0M | 30x | as long as short |
| Aftermath Perps BTCUSD | +0.0165% | 1h | 86,429.2 | −0.029% | $78K | $217K | 20x | as long as short |
| BloFin BTC-USDT | +0.0199% | 8h | 86,354.6 | −0.115% | $414.4M | $649.7M | 150x | as long as short |
| GMX BTC/USD [WBTC.b-USDC] | L +0.0203% / S −0.0217% | 1h | 86,426.2 | −0.032% | $14.5M | — | 200x | as long as short |
| Kalshi KXBTCPERP | +0.0210% | 8h | 86,409 | −0.052% | $10.1M | $762.2M | 6.4x | as long as short |
KuCoin XBTUSDTM
Reya BTCRUSDPERP
BingX BTC-USDT
RISEx BTC/USDC
Bitget BTCUSDT
MEXC BTC_USDT
Binance BTCUSDT
Aevo BTC-PERP
Lighter BTC
Lighter RH BTC
Popdex BTCUSDT
Katana Perps BTC-USD
Paradex BTC-USD-PERP
Nado BTC-PERP
Hyperliquid BTC
Pacifica BTC
Bybit BTCUSDT
OKX BTC-USDT-SWAP
Arcus BTC-USD
Gate BTC_USDT
Backpack BTC_USDC_PERP
Variational Omni BTC
edgeX BTCUSDC
GRVT BTC_USDT_Perp
ApeX Omni BTCUSDT
StandX BTC-USD
Vest BTC-PERP
Polymarket Perps BTC-USD
Bullet BTC-USD
Orderly PERP_BTC_USDC
Bluefin BTC-PERP
Derive BTC-PERP
SunX BTC-USDT
SoDEX BTC-USD
HTX BTC-USDT
Bulk BTC-USD
Extended BTC-USD
Jupiter Perps WBTC-PERP
Coinbase International BTC-PERP-INTX
Kraken Futures PF_XBTUSD
Hibachi BTC/USDT-P
Aftermath Perps BTCUSD
BloFin BTC-USDT
GMX BTC/USD [WBTC.b-USDC]
Kalshi KXBTCPERP