Funding you earn now, next payment 04:00 UTC−0.0131%/8h= −14.4% APRpaid last 24h −0.044%
Price spread now: BloFin against Derive+0.063%55s7-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+0.045%+$5 on $10k
+Price spread, last 4 days (all we have)−0.072%−$7 · spread now +0.063%, 7d avg −0.001%
=The price spread pays, funding is against you. BloFin is 0.064% dearer against Derive than usual: you sell high and buy low (spread +0.063% now, against its 7-day average of −0.001%): +$6 on $10k if it goes back. Holding the pair costs −$4 a day in funding at the current rate, which eats that in about 39 hours. The two prices were read 55 seconds apart, so part of this spread may be the market moving, not a spread.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Derive BTC-PERP | 85,600.4 | 0.0100 | pay 0.0013% / 1h | 52m 21s | $30.0M | $51.1M | 15x |
| Short | BloFin BTC-USDT | 85,654.4 | −0.0031 | pay 0.0031% / 8h | 4h 52m | $418.0M | $665.8M | 150x |
Derive BTC-PERP
BloFin BTC-USDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
BloFin against Derive. 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
- −$27.6
- Price spread: +0.063% → −0.001%
- $6.44
- Slippage, 4 orders
- no order book: not counted
- Fee Derive: 3 bp × 2 orders
- −$6
- Fee BloFin: 6 bp × 2 orders
- −$12
- Net
- −$39.16
- Costs to cover
- 0.180%
- Break-even
- never at this rate
Slippage unknown: Derive: no order-book sample; BloFin: live order book, 7 min ago. 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 Derive no order-book sample | — | — | — | — | — |
| Sell BloFin live order book, 7 min ago | 0.01 bp | 6.0 bp −$6 | 6.0 bp −$60 | 6.3 bp −$628 | 7.6 bp −$3,792 |
Derive: 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 | −0.2290% | 1h | 85,643.2 | +0.050% | $194K | $725K | 40x | as long as short |
| Phoenix BTC | −0.0179% | 1h | 85,659 | +0.068% | $2.2M | $10.3M | 40x | as long as short |
| Hotstuff BTC-PERP | −0.0080% | 1h | 85,619 | +0.022% | $8K | $3K | 50x | as long as short |
| 01 Exchange BTCUSD | −0.0048% | 1h | 85,606.5 | +0.007% | $370K | $2.3M | 50x | as long as short |
| BloFin BTC-USDTshort | −0.0031% | 8h | 85,654.4 | +0.063% | $418.0M | $665.8M | 150x | |
| dYdX BTC-USD | 0.0000% | 1h | 85,669.4 | +0.081% | $16.7M | $21.2M | 50x | as long as short |
| KuCoin XBTUSDTM | 0.0000% | 8h | 85,597 | −0.004% | $919.5M | $749.3M | 125x | as long as short |
| gTrade (Gains Network) BTC/USD | L +0.0004% / S −0.0004% | 1h | 85,613.2 | +0.015% | $36.6M | — | 200x | as long as short |
| Aster BTCUSDT | +0.0016% | 8h | 85,610.9 | +0.012% | $516.0M | $1.10B | 200x | as long as short |
| Arcus BTC-USD | +0.0021% | 1h | 85,585.8 | −0.017% | $6.9M | $97.1M | 40x | as long as short |
Bluefin BTC-PERP
Phoenix BTC
Hotstuff BTC-PERP
01 Exchange BTCUSD
dYdX BTC-USD
KuCoin XBTUSDTM
gTrade (Gains Network) BTC/USD
Aster BTCUSDT
Arcus BTC-USDShow all 56 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Nado BTC-PERP | +0.0056% | 1h | 85,603.6 | +0.004% | $22.5M | $218.8M | 50x | as long as short |
| BingX BTC-USDC | +0.0058% | 8h | 85,595.5 | −0.006% | — | $17.1M | — | as long as short |
| ApeX Omni BTCUSDT | +0.0059% | 1h | 85,584.6 | −0.019% | $139.9M | $315.1M | 100x | as long as short |
| Bitget BTCUSDT | +0.0074% | 8h | 85,604 | +0.004% | $2.96B | $5.01B | 150x | as long as short |
| Reya BTCRUSDPERP | +0.0077% | 1h | 85,608.9 | +0.010% | $6.7M | $146.6M | 40x | as long as short |
| MEXC BTC_USDT | +0.0088% | 8h | 85,611.5 | +0.013% | $5.05B | $5.57B | 500x | as long as short |
| Aevo BTC-PERP | +0.0088% | 1h | 85,595.2 | −0.006% | $2.5M | $1.7M | 20x | as long as short |
| Binance BTCUSDT | +0.0089% | 8h | 85,598 | −0.003% | $9.34B | $23.95B | 150x | as long as short |
| SoDEX BTC-USD | +0.0094% | 1h | 85,658 | +0.067% | $60.0M | $336.1M | 40x | as long as short |
| Lighter BTC | +0.0096% | 1h | 85,626.9 | +0.031% | $174.1M | $999.9M | 50x | as long as short |
| Lighter RH BTC | +0.0096% | 1h | 85,649.4 | +0.057% | $23.8M | $148.0M | 50x | as long as short |
| Popdex BTCUSDT | +0.0096% | 1h | 85,604 | +0.004% | $8.4M | $52.5M | 100x | as long as short |
| Paradex BTC-USD-PERP | +0.0100% | 8h | 85,662.8 | +0.073% | $3.8M | $8.3M | 50x | as long as short |
| Katana Perps BTC-USD | +0.0100% | 8h | 85,587 | −0.016% | $235K | $7.9M | 50x | as long as short |
| Phemex BTCUSDT | +0.0100% | 8h | 85,658.6 | +0.068% | $150.8M | $482.7M | 150x | as long as short |
| Hyperliquid BTC | +0.0100% | 1h | 85,690 | +0.105% | $3.74B | $4.96B | 40x | as long as short |
| Pacifica BTC | +0.0100% | 1h | 85,655.6 | +0.064% | $40.1M | $576.9M | 50x | as long as short |
| Bybit BTCUSDT | +0.0100% | 8h | 85,603.1 | +0.003% | $5.32B | $9.57B | 150x | as long as short |
| OKX BTC-USDT-SWAP | +0.0100% | 8h | 85,616.9 | +0.019% | $2.57B | $12.09B | 100x | as long as short |
| Ondo Perps BTC-USD.P | +0.0100% | 1h | 85,600 | −0.001% | $3.9M | $18.0M | 25x | as long as short |
| Bulk BTC-USD | +0.0100% | 1h | 85,696.6 | +0.112% | $648.3M | $574.6M | 40x | as long as short |
| Gate BTC_USDT | +0.0100% | 8h | 85,613.7 | +0.015% | $5.54B | $10.54B | 200x | as long as short |
| Backpack BTC_USDC_PERP | +0.0100% | 1h | 85,646.5 | +0.054% | $36.0M | $175.8M | 75x | as long as short |
| Variational Omni BTC | +0.0100% | 8h | 85,690.1 | +0.105% | $156.8M | $560.5M | — | as long as short |
| edgeX BTCUSDC | +0.0100% | 4h | 85,664.8 | +0.075% | $279.8M | $917.5M | 100x | as long as short |
| GRVT BTC_USDT_Perp | +0.0100% | 8h | 85,627.1 | +0.031% | $215.0M | $164.8M | 50x | as long as short |
| StandX BTC-USD | +0.0100% | 1h | 85,646.5 | +0.054% | $30.3M | $207.7M | 40x | as long as short |
| Vest BTC-PERP | +0.0100% | 1h | 85,675.9 | +0.088% | — | $11.8M | 50x | as long as short |
| Polymarket Perps BTC-USD | +0.0100% | 1h | 85,609 | +0.010% | $11.0M | $14.1M | 50x | as long as short |
| Bullet BTC-USD | +0.0100% | 1h | 85,607 | +0.008% | $195K | $3.3M | 20x | as long as short |
| Orderly PERP_BTC_USDC | +0.0100% | 8h | 85,594 | −0.008% | $2.4M | $8.7M | 100x | as long as short |
| Derive BTC-PERPlong | +0.0100% | 1h | 85,600.4 | long leg | $30.0M | $51.1M | 15x | |
| SunX BTC-USDT | +0.0100% | 8h | 85,632.9 | +0.038% | $2.9M | $6.1M | 100x | as long as short |
| HTX BTC-USDT | +0.0100% | 8h | 85,650.1 | +0.058% | $2.27B | $937.8M | 200x | as long as short |
| Extended BTC-USD | +0.0104% | 1h | 85,572.6 | −0.032% | $44.5M | $226.2M | 50x | as long as short |
| Jupiter Perps WBTC-PERP | L +0.0104% / S +0.0056% | 1h | 85,658.7 | +0.068% | — | $106.5M | 500x | as long as short |
| Coinbase International BTC-PERP-INTX | +0.0104% | 1h | 85,701.1 | +0.118% | $117.5M | $5.14B | 50x | as long as short |
| Injective BTC/USDC PERP | +0.0150% | 1h | 85,724 | +0.144% | $340K | $26.9M | 52x | as long as short |
| Kraken Futures PF_XBTUSD | +0.0170% | 1h | 85,678 | +0.091% | $189.1M | $951.7M | 100x | as long as short |
| GMX BTC/USD [WBTC.b-USDC] | L +0.0177% / S −0.0151% | 1h | 85,612.4 | +0.014% | $13.4M | — | 200x | as long as short |
| Hibachi BTC/USDT-P | +0.0184% | 1h | 85,684.7 | +0.098% | $700K | $7.9M | 30x | as long as short |
| Deribit BTC-PERPETUAL | +0.0193% | 1h | 85,708.1 | +0.126% | $892.5M | $1.53B | 50x | as long as short |
| RISEx BTC/USDC | +0.0194% | 1h | 85,632.7 | +0.038% | $8.4M | $42.3M | 25x | as long as short |
| Aftermath Perps BTCUSD | +0.0202% | 1h | 85,687.6 | +0.102% | $78K | $219K | 20x | as long as short |
| Kalshi KXBTCPERP | +0.0219% | 8h | 85,681 | +0.094% | $10.7M | $758.9M | 6.4x | as long as short |
| Perpl BTC | +0.0447% | 43m | 85,627 | +0.031% | $492K | $18.9M | 6.7x | as long as short |
Nado BTC-PERP
BingX BTC-USDC
ApeX Omni BTCUSDT
Bitget BTCUSDT
Reya BTCRUSDPERP
MEXC BTC_USDT
Aevo BTC-PERP
Binance BTCUSDT
SoDEX BTC-USD
Lighter BTC
Lighter RH BTC
Popdex BTCUSDT
Paradex BTC-USD-PERP
Katana Perps BTC-USD
Phemex BTCUSDT
Hyperliquid BTC
Pacifica BTC
Bybit BTCUSDT
OKX BTC-USDT-SWAP
Ondo Perps BTC-USD.P
Bulk BTC-USD
Gate BTC_USDT
Backpack BTC_USDC_PERP
Variational Omni BTC
edgeX BTCUSDC
GRVT BTC_USDT_Perp
StandX BTC-USD
Vest BTC-PERP
Polymarket Perps BTC-USD
Bullet BTC-USD
Orderly PERP_BTC_USDC
SunX BTC-USDT
HTX BTC-USDT
Extended BTC-USD
Jupiter Perps WBTC-PERP
Coinbase International BTC-PERP-INTX
Injective BTC/USDC PERP
Kraken Futures PF_XBTUSD
GMX BTC/USD [WBTC.b-USDC]
Hibachi BTC/USDT-P
Deribit BTC-PERPETUAL
RISEx BTC/USDC
Aftermath Perps BTCUSD
Kalshi KXBTCPERP
Perpl BTC