Funding you earn now, next payment 00:55 UTC−0.0100%/8h= −10.9% APRpaid last 24h −0.055%
Price spread now: Perpl against Derive+0.016%7-day average +0.013% · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 7 days+0.357%+$36 on $10k
+Price spread, last 3 days (all we have)+0.041%+$4 · spread now +0.016%, 7d avg +0.013%
=Together, before fees+0.397%+ Points / potential airdropPerpl: Active · farm board+$40 on $10k · with fees, hour by hour
The price spread sits at its 7-day average of +0.013%, so right now this pair is about funding alone: −$3 a day on $10k at the current rate. Mind the row above: over the last 7 days funding on this pair paid +0.357%, so the current rate has only just turned against you.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Derive BTC-PERP | 85,655.6 | 0.0100 | pay 0.0013% / 1h | 32m 09s | $30.0M | $56.7M | 15x |
| Short | Perpl BTC | 85,669.5 | 0 | get 0.0000% / 43m | 37m 09s | $515K | $20.9M | 6.7x |
Derive BTC-PERP
Perpl BTCFunding history
latest
Range statsloading…
Price spread between the two exchanges
Perpl 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
- −$21
- Price spread: +0.016% → +0.013%
- $0.29
- Slippage, 4 orders
- no order book: not counted
- Fee Derive: 3 bp × 2 orders
- −$6
- Fee Perpl: 6.9 bp × 2 orders
- −$13.8
- Net
- −$40.51
- Costs to cover
- 0.198%
- Break-even
- never at this rate
Slippage unknown: Derive: no order-book sample; Perpl: 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 Derive no order-book sample | — | — | — | — | — |
| Sell Perpl no order-book sample | — | — | — | — | — |
Derive and Perpl: 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 55 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 | −0.0144% | 1h | 85,641 | −0.017% | $2.2M | $10.5M | 40x | as long as short |
| Hotstuff BTC-PERP | −0.0080% | 1h | 85,596 | −0.070% | $8K | $3K | 50x | as long as short |
| 01 Exchange BTCUSD | −0.0064% | 1h | 85,654.9 | −0.001% | $364K | $2.4M | 50x | as long as short |
| Perpl BTCshort | 0.0000% | 43m | 85,669.5 | +0.016% | $515K | $20.9M | 6.7x | |
| dYdX BTC-USD | +0.0001% | 1h | 85,662 | +0.008% | $16.8M | $20.9M | 50x | as long as short |
| gTrade (Gains Network) BTC/USD | L +0.0004% / S −0.0004% | 1h | 85,669.3 | +0.016% | $36.7M | — | 200x | as long as short |
| Injective BTC/USDC PERP | +0.0020% | 1h | 85,691 | +0.041% | $340K | $26.9M | 52x | as long as short |
| Aster BTCUSDT | +0.0034% | 8h | 85,653.7 | −0.002% | $496.6M | $1.14B | 200x | as long as short |
| KuCoin XBTUSDTM | +0.0035% | 8h | 85,628.5 | −0.032% | $901.7M | $755.9M | 125x | as long as short |
| ApeX Omni BTCUSDT | +0.0037% | 1h | 85,595.3 | −0.070% | $140.0M | $320.4M | 100x | as long as short |
Phoenix BTC
Hotstuff BTC-PERP
01 Exchange BTCUSD
dYdX BTC-USD
gTrade (Gains Network) BTC/USD
Injective BTC/USDC PERP
Aster BTCUSDT
KuCoin XBTUSDTM
ApeX Omni BTCUSDTShow all 55 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| RISEx BTC/USDC | +0.0044% | 1h | 85,672.7 | +0.020% | $7.8M | $42.4M | 25x | as long as short |
| BingX BTC-USDC | +0.0054% | 8h | 85,631.1 | −0.029% | — | $15.4M | — | as long as short |
| Reya BTCRUSDPERP | +0.0056% | 1h | 85,669.1 | +0.016% | $6.7M | $146.2M | 40x | as long as short |
| HTX BTC-USDT | +0.0057% | 8h | 85,625 | −0.036% | $2.27B | $953.1M | 200x | as long as short |
| Nado BTC-PERP | +0.0065% | 1h | 85,625.4 | −0.035% | $22.8M | $228.6M | 50x | as long as short |
| Bitget BTCUSDT | +0.0069% | 8h | 85,616.3 | −0.046% | $2.94B | $5.11B | 150x | as long as short |
| Aevo BTC-PERP | +0.0080% | 1h | 85,651.7 | −0.005% | $2.5M | $1.8M | 20x | as long as short |
| MEXC BTC_USDT | +0.0088% | 8h | 85,630.3 | −0.030% | $5.06B | $5.71B | 500x | as long as short |
| Binance BTCUSDT | +0.0089% | 8h | 85,640.6 | −0.017% | $9.32B | $24.47B | 150x | as long as short |
| Gate BTC_USDT | +0.0091% | 8h | 85,636.2 | −0.023% | $5.61B | $10.51B | 200x | as long as short |
| Lighter BTC | +0.0096% | 1h | 85,639.5 | −0.019% | $169.5M | $986.2M | 50x | as long as short |
| Lighter RH BTC | +0.0096% | 1h | 85,652.8 | −0.003% | $23.2M | $146.2M | 50x | as long as short |
| Popdex BTCUSDT | +0.0096% | 1h | 85,668 | +0.014% | $8.4M | $52.1M | 100x | as long as short |
| Katana Perps BTC-USD | +0.0100% | 8h | 85,625 | −0.036% | $207K | $7.5M | 50x | as long as short |
| Paradex BTC-USD-PERP | +0.0100% | 8h | 85,621.8 | −0.039% | $3.8M | $8.5M | 50x | as long as short |
| Hyperliquid BTC | +0.0100% | 1h | 85,689 | +0.039% | $3.76B | $5.00B | 40x | as long as short |
| Pacifica BTC | +0.0100% | 1h | 85,676.8 | +0.025% | $40.7M | $569.7M | 50x | as long as short |
| Bybit BTCUSDT | +0.0100% | 8h | 85,634.7 | −0.024% | $5.29B | $9.80B | 150x | as long as short |
| OKX BTC-USDT-SWAP | +0.0100% | 8h | 85,633.1 | −0.026% | $2.54B | $12.41B | 100x | as long as short |
| Ondo Perps BTC-USD.P | +0.0100% | 1h | 85,658 | +0.003% | $3.9M | $18.0M | 25x | as long as short |
| Arcus BTC-USD | +0.0100% | 1h | 85,631.8 | −0.028% | $7.2M | $98.3M | 40x | as long as short |
| Backpack BTC_USDC_PERP | +0.0100% | 1h | 85,622.8 | −0.038% | $35.1M | $162.6M | 75x | as long as short |
| Variational Omni BTC | +0.0100% | 8h | 85,619.2 | −0.043% | $156.3M | $559.9M | — | as long as short |
| edgeX BTCUSDC | +0.0100% | 4h | 85,580.7 | −0.087% | $278.2M | $944.9M | 100x | as long as short |
| GRVT BTC_USDT_Perp | +0.0100% | 8h | 85,597.4 | −0.068% | $214.9M | $168.6M | 50x | as long as short |
| StandX BTC-USD | +0.0100% | 1h | 85,612.6 | −0.050% | $30.3M | $208.2M | 40x | as long as short |
| Vest BTC-PERP | +0.0100% | 1h | 85,709.9 | +0.063% | — | $11.8M | 50x | as long as short |
| Polymarket Perps BTC-USD | +0.0100% | 1h | 85,671 | +0.018% | $11.0M | $14.2M | 50x | as long as short |
| Bullet BTC-USD | +0.0100% | 1h | 85,665.5 | +0.012% | $188K | $3.3M | 20x | as long as short |
| Orderly PERP_BTC_USDC | +0.0100% | 8h | 85,662.5 | +0.008% | $2.4M | $9.1M | 100x | as long as short |
| Bluefin BTC-PERP | +0.0100% | 1h | 85,698.4 | +0.050% | $186K | $709K | 40x | as long as short |
| Derive BTC-PERPlong | +0.0100% | 1h | 85,655.6 | long leg | $30.0M | $56.7M | 15x | |
| SunX BTC-USDT | +0.0100% | 8h | 85,521.5 | −0.157% | $2.9M | $6.6M | 100x | as long as short |
| SoDEX BTC-USD | +0.0100% | 1h | 85,646 | −0.011% | $59.9M | $337.5M | 40x | as long as short |
| Phemex BTCUSDT | +0.0100% | 8h | 85,644.1 | −0.013% | $153.1M | $480.1M | 150x | as long as short |
| Bulk BTC-USD | +0.0100% | 1h | 85,587.5 | −0.079% | $583.6M | $150.2M | 40x | as long as short |
| Extended BTC-USD | +0.0104% | 1h | 85,633.1 | −0.026% | $43.9M | $228.7M | 50x | as long as short |
| Jupiter Perps WBTC-PERP | L +0.0104% / S +0.0056% | 1h | 85,636.9 | −0.022% | — | $101.8M | 500x | as long as short |
| Coinbase International BTC-PERP-INTX | +0.0112% | 1h | 85,675.6 | +0.023% | $131.1M | $5.19B | 50x | as long as short |
| Hibachi BTC/USDT-P | +0.0136% | 1h | 85,599.8 | −0.065% | $696K | $7.9M | 30x | as long as short |
| Kraken Futures PF_XBTUSD | +0.0146% | 1h | 85,658.3 | +0.003% | $188.7M | $965.5M | 100x | as long as short |
| Deribit BTC-PERPETUAL | +0.0151% | 1h | 85,687.7 | +0.037% | $894.2M | $1.54B | 50x | as long as short |
| Aftermath Perps BTCUSD | +0.0161% | 1h | 85,651 | −0.005% | $78K | $219K | 20x | as long as short |
| GMX BTC/USD [WBTC.b-USDC] | L +0.0204% / S −0.0191% | 1h | 85,669.9 | +0.017% | $13.6M | — | 200x | as long as short |
| Kalshi KXBTCPERP | +0.0208% | 8h | 85,662 | +0.007% | $10.0M | $770.8M | 6.4x | as long as short |
RISEx BTC/USDC
BingX BTC-USDC
Reya BTCRUSDPERP
HTX BTC-USDT
Nado BTC-PERP
Bitget BTCUSDT
Aevo BTC-PERP
MEXC BTC_USDT
Binance BTCUSDT
Gate BTC_USDT
Lighter BTC
Lighter RH BTC
Popdex BTCUSDT
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
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
Bluefin BTC-PERP
SunX BTC-USDT
SoDEX BTC-USD
Phemex BTCUSDT
Bulk BTC-USD
Extended BTC-USD
Jupiter Perps WBTC-PERP
Coinbase International BTC-PERP-INTX
Hibachi BTC/USDT-P
Kraken Futures PF_XBTUSD
Deribit BTC-PERPETUAL
Aftermath Perps BTCUSD
GMX BTC/USD [WBTC.b-USDC]
Kalshi KXBTCPERP