BTC

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0094%/8h= −10.3% APRnext payment −$0.12 per $10,000 · paid last 24h −0.010%

Price spread now: RISEx against Derive−0.063%7-day average +0.021% · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Derive Short on RISEx

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.033%+$3 on $10k

Price spread, last 3 days (all we have)+0.139%+$14 · spread now −0.063%, 7d avg +0.021%

Together, before fees+0.172%+$17 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and RISEx is 0.084% cheaper against Derive than usual: you would sell low and buy high (−$8 if the spread goes back to its 7-day average of +0.021%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Derive BTC-PERP	86,538.9	0.0100	pay 0.0013% / 1h	34m 27s	$30.0M	$61.6M	15x
Short	RISEx BTC/USDC	86,484.3	0.0006	get 0.0001% / 1h	34m 27s	$8.5M	$43.2M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

RISEx against Derive. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee DerivebpFee RISExbpOrdersPrice spread, now −0.063%Rate

Funding earned: −$19.7
Price spread: −0.063% → +0.021%: −$8.41
Slippage, 4 orders: no order book: not counted
Fee Derive: 3 bp × 2 orders: −$6
Fee RISEx: 3 bp × 2 orders: −$6
Net: −$40.11
Costs to cover: 0.120%
Break-even: never at this rate

Slippage unknown: Derive: no order-book sample; RISEx: live order book, 5 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 RISEx live order book, 5 min ago	0.01 bp	3.1 bp −$3	3.2 bp −$32	10.9 bp −$1,087	doesn't fit

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	−0.0657%	1h	86,553.8	+0.017%	$140K	$618K	40x	as long as short
Phoenix BTC	−0.0159%	1h	86,627	+0.102%	$2.2M	$11.8M	40x	as long as short
Aftermath Perps BTCUSD	−0.0130%	1h	86,615.5	+0.088%	$83K	$216K	20x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	86,522	−0.020%	$9K	$3K	50x	as long as short
dYdX BTC-USD	−0.0010%	1h	86,530.8	−0.009%	$17.3M	$20.5M	50x	as long as short
Aster BTCUSDT	−0.0010%	8h	86,489.8	−0.057%	$504.7M	$1.15B	200x	as long as short
01 Exchange BTCUSD	−0.0008%	1h	86,494	−0.052%	$358K	$2.4M	50x	as long as short
KuCoin XBTUSDTM	0.0000%	8h	86,509.2	−0.034%	$851.1M	$708.6M	125x	as long as short
Perpl BTC	0.0000%	43m	86,522.6	−0.019%	$419K	$23.8M	6.7x	as long as short
Deribit BTC-PERPETUAL	0.0000%	1h	86,565.4	+0.031%	$924.2M	$1.47B	50x	as long as short

Show all 56 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
gTrade (Gains Network) BTC/USD	L +0.0005% / S −0.0004%	1h	86,557.8	+0.022%	$36.8M	—	200x	as long as short
RISEx BTC/USDCshort	+0.0006%	1h	86,484.3	−0.063%	$8.5M	$43.2M	25x
Reya BTCRUSDPERP	+0.0022%	1h	86,444.9	−0.109%	$6.7M	$144.9M	40x	as long as short
Injective BTC/USDC PERP	+0.0024%	1h	86,559	+0.023%	$315K	$26.8M	52x	as long as short
Phemex BTCUSDT	+0.0030%	8h	86,533.7	−0.006%	$150.2M	$475.4M	150x	as long as short
BingX BTC-USDT	+0.0034%	8h	86,516.5	−0.026%	—	$1.59B	—	as long as short
Bitget BTCUSDT	+0.0043%	8h	86,457.9	−0.094%	$2.95B	$5.08B	150x	as long as short
Hibachi BTC/USDT-P	+0.0048%	1h	86,562.5	+0.027%	$729K	$8.2M	30x	as long as short
MEXC BTC_USDT	+0.0060%	8h	86,455.8	−0.096%	$5.17B	$5.65B	500x	as long as short
Binance BTCUSDT	+0.0060%	8h	86,472	−0.077%	$9.41B	$24.32B	150x	as long as short
Aevo BTC-PERP	+0.0064%	1h	86,528.8	−0.012%	$2.4M	$1.3M	20x	as long as short
Gate BTC_USDT	+0.0075%	8h	86,506.7	−0.037%	$5.85B	$10.66B	200x	as long as short
Bybit BTCUSDT	+0.0089%	8h	86,470.8	−0.079%	$5.27B	$9.70B	150x	as long as short
Lighter BTC	+0.0096%	1h	86,526.1	−0.015%	$171.6M	$1.00B	50x	as long as short
Lighter RH BTC	+0.0096%	1h	86,527.3	−0.013%	$24.0M	$151.9M	50x	as long as short
Popdex BTCUSDT	+0.0096%	1h	86,476	−0.073%	$8.5M	$52.2M	100x	as long as short
SoDEX BTC-USD	+0.0098%	1h	86,530	−0.010%	$60.5M	$337.1M	40x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	86,468	−0.082%	$201K	$6.9M	50x	as long as short
Paradex BTC-USD-PERP	+0.0100%	8h	86,551.7	+0.015%	$4.8M	$8.4M	50x	as long as short
Nado BTC-PERP	+0.0100%	1h	86,495.2	−0.051%	$21.8M	$233.4M	50x	as long as short
Hyperliquid BTC	+0.0100%	1h	86,549	+0.012%	$3.81B	$5.09B	40x	as long as short
Pacifica BTC	+0.0100%	1h	86,549.1	+0.012%	$41.1M	$505.2M	50x	as long as short
OKX BTC-USDT-SWAP	+0.0100%	8h	86,469.6	−0.080%	$2.54B	$12.68B	100x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	86,496	−0.050%	$3.9M	$18.6M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	86,570.7	+0.037%	$7.4M	$93.7M	40x	as long as short
Bulk BTC-USD	+0.0100%	1h	86,703.1	+0.190%	$573.0M	$18.8M	40x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	86,519.1	−0.023%	$38.4M	$153.2M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	86,541.3	+0.003%	$156.5M	$566.0M	—	as long as short
edgeX BTCUSDC	+0.0100%	4h	86,594.3	+0.064%	$279.8M	$944.4M	100x	as long as short
GRVT BTC_USDT_Perp	+0.0100%	8h	86,592.5	+0.062%	$217.3M	$173.9M	50x	as long as short
ApeX Omni BTCUSDT	+0.0100%	1h	86,642.9	+0.120%	$141.6M	$323.1M	100x	as long as short
StandX BTC-USD	+0.0100%	1h	86,563.2	+0.028%	$30.7M	$203.4M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	86,530.5	−0.010%	—	$11.6M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	86,467	−0.083%	$11.1M	$13.6M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	86,463.4	−0.087%	$191K	$3.3M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	86,542.8	+0.004%	$2.4M	$8.6M	100x	as long as short
Derive BTC-PERPlong	+0.0100%	1h	86,538.9	long leg	$30.0M	$61.6M	15x
SunX BTC-USDT	+0.0100%	8h	86,536.8	−0.002%	$3.4M	$5.4M	100x	as long as short
HTX BTC-USDT	+0.0100%	8h	86,527.7	−0.013%	$2.30B	$964.6M	200x	as long as short
Extended BTC-USD	+0.0104%	1h	86,476.9	−0.072%	$46.4M	$225.4M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0048%	1h	86,541.9	+0.003%	—	$98.2M	500x	as long as short
Coinbase International BTC-PERP-INTX	+0.0112%	1h	86,571.3	+0.037%	$131.6M	$5.71B	50x	as long as short
Kraken Futures PF_XBTUSD	+0.0121%	1h	86,562.4	+0.027%	$191.6M	$937.1M	100x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0181% / S −0.0208%	1h	86,552.2	+0.015%	$15.1M	—	200x	as long as short
BloFin BTC-USDT	+0.0181%	8h	86,533.4	−0.006%	$414.3M	$651.5M	150x	as long as short
Kalshi KXBTCPERP	+0.0195%	8h	86,554	+0.017%	$9.6M	$728.5M	6.4x	as long as short