Funding you earn now, next payment 06:00 UTC−0.0096%/8h= −10.5% APRnext payment −$0.12 per $10,000 · paid last 24h −0.035%
Price spread now: gTrade (Gains Network) against Derive+0.031%7-day average +0.014% · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 3 days (all we have)−0.070%−$7 on $10k
+Price spread, last 4 days (all we have)+0.049%+$5 · spread now +0.031%, 7d avg +0.014%
=The price spread sits at its 7-day average of +0.014%, so right now this pair is about funding alone: −$3 a day on $10k at the current rate.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Derive BTC-PERP | 85,095.8 | 0.0100 | pay 0.0013% / 1h | 23m 21s | $29.9M | $48.5M | 15x |
| Short | gTrade (Gains Network) BTC/USD | 85,121.8 | L +0.0004% / S −0.0004% | get 0.0001% / 1h | 23m 21s | $36.4M | — | 200x |
Derive BTC-PERP
gTrade (Gains Network) BTC/USDFunding history
latest
Range statsloading…
Price spread between the two exchanges
gTrade (Gains Network) 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
- −$20.1
- Price spread: +0.031% → +0.014%
- $1.68
- Slippage, 4 orders
- no order book: not counted
- Fee Derive: 3 bp × 2 orders
- −$6
- Fee gTrade (Gains Network): 3.5 bp × 2 orders
- −$7
- Net
- −$31.42
- Costs to cover
- 0.130%
- Break-even
- never at this rate
Slippage unknown: Derive: no order-book sample; gTrade (Gains Network): virtual book (oracle venue), 1 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 gTrade (Gains Network) virtual book (oracle venue), 1 min ago | 0.51 bp | 4.0 bp −$4 | 4.1 bp −$41 | 4.5 bp −$447 | 6.4 bp −$3,186 |
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 | |
|---|---|---|---|---|---|---|---|---|
| Perpl BTC | −0.0112% | 43m | 85,115 | +0.023% | $525K | $18.4M | 6.7x | as long as short |
| Phoenix BTC | −0.0111% | 1h | 85,134 | +0.045% | $2.1M | $10.4M | 40x | as long as short |
| Hotstuff BTC-PERP | −0.0080% | 1h | 85,150 | +0.064% | $8K | $3K | 50x | as long as short |
| KuCoin XBTUSDTM | −0.0054% | 8h | 85,090 | −0.007% | $920.9M | $763.7M | 125x | as long as short |
| BloFin BTC-USDT | −0.0035% | 8h | 85,137.3 | +0.049% | $419.2M | $679.4M | 150x | as long as short |
| Aster BTCUSDT | −0.0016% | 8h | 85,096.5 | +0.001% | $511.6M | $1.09B | 200x | as long as short |
| 01 Exchange BTCUSD | −0.0016% | 1h | 85,119.9 | +0.028% | $372K | $2.4M | 50x | as long as short |
| dYdX BTC-USD | +0.0001% | 1h | 85,176 | +0.094% | $16.7M | $21.4M | 50x | as long as short |
| gTrade (Gains Network) BTC/USDshort | L +0.0004% / S −0.0004% | 1h | 85,121.8 | +0.031% | $36.4M | — | 200x | |
| Injective BTC/USDC PERP | +0.0023% | 1h | 85,225 | +0.152% | $338K | $26.8M | 52x | as long as short |
Perpl BTC
Phoenix BTC
Hotstuff BTC-PERP
KuCoin XBTUSDTM
BloFin BTC-USDT
Aster BTCUSDT
01 Exchange BTCUSD
dYdX BTC-USD
Injective BTC/USDC PERPShow all 56 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Nado BTC-PERP | +0.0035% | 1h | 85,138 | +0.050% | $24.7M | $222.6M | 50x | as long as short |
| Kraken Futures PF_XBTUSD | +0.0056% | 1h | 85,138.9 | +0.051% | $186.8M | $953.9M | 100x | as long as short |
| BingX BTC-USDC | +0.0067% | 8h | 85,088.3 | −0.009% | — | $17.4M | — | as long as short |
| Deribit BTC-PERPETUAL | +0.0070% | 1h | 85,157.3 | +0.072% | $866.9M | $1.61B | 50x | as long as short |
| Aevo BTC-PERP | +0.0080% | 1h | 85,113.3 | +0.021% | $2.4M | $6.7M | 20x | as long as short |
| Phemex BTCUSDT | +0.0081% | 8h | 85,140.4 | +0.052% | $147.2M | $505.0M | 150x | as long as short |
| MEXC BTC_USDT | +0.0084% | 8h | 85,103.2 | +0.009% | $5.04B | $5.72B | 500x | as long as short |
| Bitget BTCUSDT | +0.0085% | 8h | 85,112.9 | +0.020% | $2.94B | $5.15B | 150x | as long as short |
| Binance BTCUSDT | +0.0085% | 8h | 85,113.7 | +0.021% | $9.40B | $24.81B | 150x | as long as short |
| Lighter BTC | +0.0096% | 1h | 85,135.6 | +0.047% | $170.9M | $1.02B | 50x | as long as short |
| Lighter RH BTC | +0.0096% | 1h | 85,141.6 | +0.054% | $23.6M | $148.6M | 50x | as long as short |
| Popdex BTCUSDT | +0.0096% | 1h | 85,101 | +0.006% | $8.3M | $55.7M | 100x | as long as short |
| Coinbase International BTC-PERP-INTX | +0.0096% | 1h | 85,167 | +0.084% | $116.8M | $5.39B | 50x | as long as short |
| Katana Perps BTC-USD | +0.0100% | 8h | 85,075 | −0.024% | $238K | $8.6M | 50x | as long as short |
| Paradex BTC-USD-PERP | +0.0100% | 8h | 85,186.7 | +0.107% | $5.8M | $9.6M | 50x | as long as short |
| Hyperliquid BTC | +0.0100% | 1h | 85,181 | +0.100% | $3.74B | $5.06B | 40x | as long as short |
| Pacifica BTC | +0.0100% | 1h | 85,151.2 | +0.065% | $40.1M | $599.0M | 50x | as long as short |
| Bybit BTCUSDT | +0.0100% | 8h | 85,107.7 | +0.014% | $5.14B | $9.93B | 150x | as long as short |
| OKX BTC-USDT-SWAP | +0.0100% | 8h | 85,117.1 | +0.025% | $2.57B | $12.16B | 100x | as long as short |
| Ondo Perps BTC-USD.P | +0.0100% | 1h | 85,107 | +0.013% | $3.8M | $17.6M | 25x | as long as short |
| Arcus BTC-USD | +0.0100% | 1h | 85,109.5 | +0.016% | $4.6M | $99.1M | 40x | as long as short |
| Bulk BTC-USD | +0.0100% | 1h | 85,183.8 | +0.103% | $678.4M | $603.6M | 40x | as long as short |
| Gate BTC_USDT | +0.0100% | 8h | 85,100.1 | +0.005% | $5.50B | $10.98B | 200x | as long as short |
| Backpack BTC_USDC_PERP | +0.0100% | 1h | 85,149.8 | +0.063% | $36.3M | $176.1M | 75x | as long as short |
| Variational Omni BTC | +0.0100% | 8h | 85,082 | −0.016% | $154.2M | $566.7M | — | as long as short |
| edgeX BTCUSDC | +0.0100% | 4h | 85,094.5 | −0.002% | $278.9M | $945.6M | 100x | as long as short |
| GRVT BTC_USDT_Perp | +0.0100% | 8h | 85,181.8 | +0.101% | $213.9M | $166.7M | 50x | as long as short |
| ApeX Omni BTCUSDT | +0.0100% | 1h | 85,090.5 | −0.006% | $139.1M | $315.1M | 100x | as long as short |
| StandX BTC-USD | +0.0100% | 1h | 85,181.9 | +0.101% | $30.1M | $206.8M | 40x | as long as short |
| Vest BTC-PERP | +0.0100% | 1h | 85,188.1 | +0.108% | — | $10.9M | 50x | as long as short |
| Polymarket Perps BTC-USD | +0.0100% | 1h | 85,100 | +0.005% | $11.0M | $14.4M | 50x | as long as short |
| Bullet BTC-USD | +0.0100% | 1h | 85,104 | +0.010% | $204K | $3.3M | 20x | as long as short |
| Orderly PERP_BTC_USDC | +0.0100% | 8h | 85,121.2 | +0.030% | $2.5M | $9.3M | 100x | as long as short |
| Bluefin BTC-PERP | +0.0100% | 1h | 85,165.6 | +0.082% | $227K | $760K | 40x | as long as short |
| Derive BTC-PERPlong | +0.0100% | 1h | 85,095.8 | long leg | $29.9M | $48.5M | 15x | |
| SunX BTC-USDT | +0.0100% | 8h | 85,101.4 | +0.007% | $2.9M | $6.1M | 100x | as long as short |
| SoDEX BTC-USD | +0.0100% | 1h | 85,122 | +0.031% | $59.6M | $336.1M | 40x | as long as short |
| HTX BTC-USDT | +0.0100% | 8h | 85,158.9 | +0.074% | $2.25B | $941.6M | 200x | as long as short |
| Extended BTC-USD | +0.0104% | 1h | 85,093.9 | −0.002% | $45.1M | $239.0M | 50x | as long as short |
| Jupiter Perps WBTC-PERP | L +0.0104% / S +0.0048% | 1h | 85,111.7 | +0.019% | — | $106.9M | 500x | as long as short |
| Reya BTCRUSDPERP | +0.0116% | 1h | 85,096.4 | +0.001% | $6.6M | $147.4M | 40x | as long as short |
| GMX BTC/USD [WBTC.b-USDC] | L +0.0176% / S −0.0151% | 1h | 85,108.2 | +0.015% | $13.0M | — | 200x | as long as short |
| Kalshi KXBTCPERP | +0.0181% | 8h | 85,145 | +0.058% | $11.5M | $743.7M | 6.4x | as long as short |
| Aftermath Perps BTCUSD | +0.0224% | 1h | 85,166 | +0.083% | $78K | $227K | 20x | as long as short |
| Hibachi BTC/USDT-P | +0.0232% | 1h | 85,206.5 | +0.130% | $687K | $8.0M | 30x | as long as short |
| RISEx BTC/USDC | +0.0257% | 1h | 85,124.7 | +0.034% | $8.7M | $43.2M | 25x | as long as short |
Nado BTC-PERP
Kraken Futures PF_XBTUSD
BingX BTC-USDC
Deribit BTC-PERPETUAL
Aevo BTC-PERP
Phemex BTCUSDT
MEXC BTC_USDT
Bitget BTCUSDT
Binance BTCUSDT
Lighter BTC
Lighter RH BTC
Popdex BTCUSDT
Coinbase International BTC-PERP-INTX
Katana Perps BTC-USD
Paradex BTC-USD-PERP
Hyperliquid BTC
Pacifica BTC
Bybit BTCUSDT
OKX BTC-USDT-SWAP
Ondo Perps BTC-USD.P
Arcus BTC-USD
Bulk 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
Extended BTC-USD
Jupiter Perps WBTC-PERP
Reya BTCRUSDPERP
GMX BTC/USD [WBTC.b-USDC]
Kalshi KXBTCPERP
Aftermath Perps BTCUSD
Hibachi BTC/USDT-P
RISEx BTC/USDC