Funding you earn now, next payment 01:00 UTC+0.0004%/8h= +0.4% APRnext payment +$0.00 per $10,000 · paid last 24h −0.008%
Price spread now: Extended against Derive−0.050%7-day average −0.031% · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 7 days+0.093%+$9 on $10k
+Price spread, last 3 days (all we have)+0.076%+$8 · spread now −0.050%, 7d avg −0.031%
=Together, before fees+0.168%+ Points / potential airdropExtended: Active · farm board+$17 on $10k · with fees, hour by hour
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Derive BTC-PERP | 86,459.1 | 0.0100 | pay 0.0013% / 1h | 42m 23s | $30.5M | $62.5M | 15x |
| Short | Extended BTC-USD | 86,415.6 | 0.0104 | get 0.0013% / 1h | 42m 23s | $45.9M | $222.5M | 50x |
Derive BTC-PERP
Extended BTC-USDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Extended 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
- $0.84
- Price spread: −0.050% → −0.031%
- −$1.95
- Slippage, 4 orders
- no order book: not counted
- Fee Derive: 3 bp × 2 orders
- −$6
- Fee Extended: 2.5 bp × 2 orders
- −$5
- Net
- −$12.11
- Costs to cover
- 0.110%
- Break-even
- 107.9 days
Slippage unknown: Derive: no order-book sample; Extended: live order book, 2 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 Extended live order book, 2 min ago | 0.06 bp | 2.6 bp −$3 | 3.3 bp −$33 | 4.5 bp −$448 | 10.5 bp −$5,251 |
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 | |
|---|---|---|---|---|---|---|---|---|
| Phoenix BTC | −0.0129% | 1h | 86,400 | −0.068% | $2.2M | $11.2M | 40x | as long as short |
| Phemex BTCUSDT | −0.0104% | 8h | 86,445.6 | −0.016% | $153.9M | $477.4M | 150x | as long as short |
| Hotstuff BTC-PERP | −0.0080% | 1h | 86,430 | −0.034% | $9K | $3K | 50x | as long as short |
| 01 Exchange BTCUSD | −0.0032% | 1h | 86,444.2 | −0.017% | $361K | $2.4M | 50x | as long as short |
| Perpl BTC | 0.0000% | 43m | 86,446.3 | −0.015% | $457K | $21.9M | 6.7x | as long as short |
| Deribit BTC-PERPETUAL | 0.0000% | 1h | 86,456.8 | −0.003% | $903.6M | $1.51B | 50x | as long as short |
| gTrade (Gains Network) BTC/USD | L +0.0005% / S −0.0004% | 1h | 86,450.6 | −0.010% | $36.9M | — | 200x | as long as short |
| Aster BTCUSDT | +0.0021% | 8h | 86,436.2 | −0.027% | $501.3M | $1.14B | 200x | as long as short |
| dYdX BTC-USD | +0.0021% | 1h | 86,468.3 | +0.011% | $16.9M | $20.5M | 50x | as long as short |
| Injective BTC/USDC PERP | +0.0023% | 1h | 86,616 | +0.181% | $333K | $26.9M | 52x | as long as short |
Phoenix BTC
Phemex BTCUSDT
Hotstuff BTC-PERP
01 Exchange BTCUSD
Perpl BTC
Deribit BTC-PERPETUAL
gTrade (Gains Network) BTC/USD
Aster BTCUSDT
dYdX BTC-USD
Injective BTC/USDC PERPShow all 56 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| KuCoin XBTUSDTM | +0.0034% | 8h | 86,434.5 | −0.029% | $831.4M | $723.5M | 125x | as long as short |
| Reya BTCRUSDPERP | +0.0043% | 1h | 86,429.4 | −0.034% | $6.7M | $145.7M | 40x | as long as short |
| BingX BTC-USDT | +0.0048% | 8h | 86,434.3 | −0.029% | — | $1.58B | — | as long as short |
| RISEx BTC/USDC | +0.0052% | 1h | 86,444.7 | −0.017% | $8.3M | $42.6M | 25x | as long as short |
| Bitget BTCUSDT | +0.0062% | 8h | 86,428.8 | −0.035% | $2.97B | $5.06B | 150x | as long as short |
| MEXC BTC_USDT | +0.0078% | 8h | 86,427.2 | −0.037% | $5.13B | $5.67B | 500x | as long as short |
| Binance BTCUSDT | +0.0079% | 8h | 86,427.1 | −0.037% | $9.41B | $24.41B | 150x | as long as short |
| Aevo BTC-PERP | +0.0080% | 1h | 86,410 | −0.057% | $2.5M | $1.6M | 20x | as long as short |
| Lighter BTC | +0.0096% | 1h | 86,443.1 | −0.019% | $170.2M | $983.5M | 50x | as long as short |
| Lighter RH BTC | +0.0096% | 1h | 86,449 | −0.012% | $23.7M | $148.9M | 50x | as long as short |
| Popdex BTCUSDT | +0.0096% | 1h | 86,429 | −0.035% | $8.4M | $52.1M | 100x | as long as short |
| Katana Perps BTC-USD | +0.0100% | 8h | 86,409 | −0.058% | $202K | $7.1M | 50x | as long as short |
| Paradex BTC-USD-PERP | +0.0100% | 8h | 86,465.3 | +0.007% | $4.7M | $8.5M | 50x | as long as short |
| Nado BTC-PERP | +0.0100% | 1h | 86,434.4 | −0.029% | $22.0M | $230.3M | 50x | as long as short |
| Hyperliquid BTC | +0.0100% | 1h | 86,502 | +0.050% | $3.80B | $5.05B | 40x | as long as short |
| Pacifica BTC | +0.0100% | 1h | 86,464.5 | +0.006% | $40.8M | $546.1M | 50x | as long as short |
| Bybit BTCUSDT | +0.0100% | 8h | 86,433.5 | −0.030% | $5.26B | $9.71B | 150x | as long as short |
| OKX BTC-USDT-SWAP | +0.0100% | 8h | 86,440.2 | −0.022% | $2.57B | $12.58B | 100x | as long as short |
| Ondo Perps BTC-USD.P | +0.0100% | 1h | 86,445 | −0.016% | $3.9M | $18.0M | 25x | as long as short |
| Arcus BTC-USD | +0.0100% | 1h | 86,464.9 | +0.007% | $7.2M | $95.7M | 40x | as long as short |
| Gate BTC_USDT | +0.0100% | 8h | 86,433.3 | −0.030% | $5.83B | $10.51B | 200x | as long as short |
| Backpack BTC_USDC_PERP | +0.0100% | 1h | 86,437.3 | −0.025% | $37.4M | $156.5M | 75x | as long as short |
| Variational Omni BTC | +0.0100% | 8h | 86,385.8 | −0.085% | $158.2M | $567.4M | — | as long as short |
| edgeX BTCUSDC | +0.0100% | 4h | 86,391.4 | −0.078% | $279.0M | $951.4M | 100x | as long as short |
| GRVT BTC_USDT_Perp | +0.0100% | 8h | 86,413.6 | −0.053% | $217.1M | $167.8M | 50x | as long as short |
| ApeX Omni BTCUSDT | +0.0100% | 1h | 86,422.4 | −0.042% | $141.5M | $322.2M | 100x | as long as short |
| StandX BTC-USD | +0.0100% | 1h | 86,413.4 | −0.053% | $30.7M | $208.6M | 40x | as long as short |
| Vest BTC-PERP | +0.0100% | 1h | 86,478.6 | +0.023% | — | $11.8M | 50x | as long as short |
| Polymarket Perps BTC-USD | +0.0100% | 1h | 86,432 | −0.031% | $11.1M | $14.1M | 50x | as long as short |
| Bullet BTC-USD | +0.0100% | 1h | 86,434.2 | −0.029% | $192K | $3.3M | 20x | as long as short |
| Orderly PERP_BTC_USDC | +0.0100% | 8h | 86,429.5 | −0.034% | $2.5M | $8.9M | 100x | as long as short |
| Bluefin BTC-PERP | +0.0100% | 1h | 86,465.8 | +0.008% | $144K | $667K | 40x | as long as short |
| Derive BTC-PERPlong | +0.0100% | 1h | 86,459.1 | long leg | $30.5M | $62.5M | 15x | |
| SunX BTC-USDT | +0.0100% | 8h | 86,441.1 | −0.021% | $3.4M | $5.2M | 100x | as long as short |
| SoDEX BTC-USD | +0.0100% | 1h | 86,428 | −0.036% | $60.4M | $338.2M | 40x | as long as short |
| HTX BTC-USDT | +0.0100% | 8h | 86,452.7 | −0.007% | $2.29B | $964.7M | 200x | as long as short |
| Bulk BTC-USD | +0.0100% | 1h | 86,336.3 | −0.142% | $571.6M | $13.0M | 40x | as long as short |
| Extended BTC-USDshort | +0.0104% | 1h | 86,415.6 | −0.050% | $45.9M | $222.5M | 50x | |
| Jupiter Perps WBTC-PERP | L +0.0104% / S +0.0048% | 1h | 86,448.1 | −0.013% | — | $99.2M | 500x | as long as short |
| Coinbase International BTC-PERP-INTX | +0.0120% | 1h | 86,466.9 | +0.009% | $132.5M | $5.49B | 50x | as long as short |
| Kraken Futures PF_XBTUSD | +0.0121% | 1h | 86,453 | −0.007% | $192.3M | $944.8M | 100x | as long as short |
| Hibachi BTC/USDT-P | +0.0160% | 1h | 86,498.6 | +0.046% | $712K | $8.0M | 30x | as long as short |
| Aftermath Perps BTCUSD | +0.0164% | 1h | 86,438.1 | −0.024% | $78K | $217K | 20x | as long as short |
| BloFin BTC-USDT | +0.0199% | 8h | 86,461.6 | +0.003% | $414.9M | $651.0M | 150x | as long as short |
| GMX BTC/USD [WBTC.b-USDC] | L +0.0203% / S −0.0216% | 1h | 86,442.9 | −0.019% | $14.5M | — | 200x | as long as short |
| Kalshi KXBTCPERP | +0.0211% | 8h | 86,467 | +0.009% | $9.8M | $761.4M | 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
Ondo Perps BTC-USD.P
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
SunX BTC-USDT
SoDEX BTC-USD
HTX BTC-USDT
Bulk 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