Funding you earn now, next payment 23:00 UTC−0.0004%/8h= −0.4% APRnext payment −$0.00 per $10,000 · paid last 24h −0.020%
Price spread now: SoDEX against Derive−0.012%7-day average −0.003% · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 3 days (all we have)+0.007%+$1 on $10k
+Price spread, last 3 days (all we have)+0.042%+$4 · spread now −0.012%, 7d avg −0.003%
=| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Derive BTC-PERP | 86,515.6 | 0.0100 | pay 0.0013% / 1h | 35m 42s | $30.0M | $61.6M | 15x |
| Short | SoDEX BTC-USD | 86,505 | 0.0096 | get 0.0012% / 1h | 35m 42s | $60.5M | $337.1M | 40x |
Derive BTC-PERP
SoDEX BTC-USDFunding history
latest
Range statsloading…
Price spread between the two exchanges
SoDEX 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
- −$0.77
- Price spread: −0.012% → −0.003%
- −$0.92
- Slippage, 4 orders
- no order book: not counted
- Fee Derive: 3 bp × 2 orders
- −$6
- Fee SoDEX: 4 bp × 2 orders
- −$8
- Net
- −$15.69
- Costs to cover
- 0.140%
- Break-even
- never at this rate
Slippage unknown: Derive: no order-book sample; SoDEX: live order book, 3 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 SoDEX live order book, 3 min ago | 0.06 bp | 4.1 bp −$4 | 4.1 bp −$41 | 5.0 bp −$501 | 42.0 bp −$21.0K |
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 | −0.0703% | 1h | 86,528.3 | +0.015% | $140K | $618K | 40x | as long as short |
| Phoenix BTC | −0.0159% | 1h | 86,627 | +0.129% | $2.2M | $11.8M | 40x | as long as short |
| Aftermath Perps BTCUSD | −0.0142% | 1h | 86,633.1 | +0.136% | $83K | $216K | 20x | as long as short |
| Hotstuff BTC-PERP | −0.0080% | 1h | 86,572 | +0.065% | $9K | $3K | 50x | as long as short |
| dYdX BTC-USD | −0.0010% | 1h | 86,530.8 | +0.017% | $17.3M | $20.5M | 50x | as long as short |
| Aster BTCUSDT | −0.0009% | 8h | 86,498 | −0.020% | $504.7M | $1.15B | 200x | as long as short |
| 01 Exchange BTCUSD | −0.0008% | 1h | 86,552.6 | +0.043% | $359K | $2.4M | 50x | as long as short |
| Perpl BTC | 0.0000% | 43m | 86,562.9 | +0.055% | $418K | $23.9M | 6.7x | as long as short |
| Deribit BTC-PERPETUAL | 0.0000% | 1h | 86,531.9 | +0.019% | $924.3M | $1.47B | 50x | as long as short |
| KuCoin XBTUSDTM | +0.0001% | 8h | 86,499.8 | −0.018% | $851.2M | $708.4M | 125x | as long as short |
Bluefin BTC-PERP
Phoenix BTC
Aftermath Perps BTCUSD
Hotstuff BTC-PERP
dYdX BTC-USD
Aster BTCUSDT
01 Exchange BTCUSD
Perpl BTC
Deribit BTC-PERPETUAL
KuCoin XBTUSDTMShow 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 | 86,537.5 | +0.025% | $36.8M | — | 200x | as long as short |
| RISEx BTC/USDC | +0.0006% | 1h | 86,541.6 | +0.030% | $8.6M | $43.2M | 25x | as long as short |
| Reya BTCRUSDPERP | +0.0022% | 1h | 86,502.3 | −0.015% | $6.7M | $144.8M | 40x | as long as short |
| Injective BTC/USDC PERP | +0.0024% | 1h | 86,559 | +0.050% | $315K | $26.8M | 52x | as long as short |
| Phemex BTCUSDT | +0.0030% | 8h | 86,493.2 | −0.026% | $149.7M | $475.1M | 150x | as long as short |
| BingX BTC-USDC | +0.0033% | 8h | 86,502.7 | −0.015% | — | $15.3M | — | as long as short |
| Hibachi BTC/USDT-P | +0.0040% | 1h | 86,622 | +0.123% | $730K | $8.2M | 30x | as long as short |
| Bitget BTCUSDT | +0.0042% | 8h | 86,515.5 | 0.000% | $2.95B | $5.08B | 150x | as long as short |
| MEXC BTC_USDT | +0.0060% | 8h | 86,513.6 | −0.002% | $5.17B | $5.65B | 500x | as long as short |
| Binance BTCUSDT | +0.0061% | 8h | 86,513.4 | −0.003% | $9.42B | $24.32B | 150x | as long as short |
| Aevo BTC-PERP | +0.0064% | 1h | 86,503.5 | −0.014% | $2.4M | $1.3M | 20x | as long as short |
| Gate BTC_USDT | +0.0076% | 8h | 86,508.7 | −0.008% | $5.85B | $10.65B | 200x | as long as short |
| Bybit BTCUSDT | +0.0090% | 8h | 86,516.4 | +0.001% | $5.27B | $9.70B | 150x | as long as short |
| Lighter BTC | +0.0096% | 1h | 86,519.4 | +0.004% | $171.6M | $1.00B | 50x | as long as short |
| Lighter RH BTC | +0.0096% | 1h | 86,536.1 | +0.024% | $24.0M | $151.8M | 50x | as long as short |
| Popdex BTCUSDT | +0.0096% | 1h | 86,531 | +0.018% | $8.5M | $52.2M | 100x | as long as short |
| SoDEX BTC-USDshort | +0.0096% | 1h | 86,505 | −0.012% | $60.5M | $337.1M | 40x | |
| Katana Perps BTC-USD | +0.0100% | 8h | 86,522 | +0.007% | $204K | $6.9M | 50x | as long as short |
| Paradex BTC-USD-PERP | +0.0100% | 8h | 86,559.2 | +0.050% | $4.7M | $8.4M | 50x | as long as short |
| Nado BTC-PERP | +0.0100% | 1h | 86,553.6 | +0.044% | $21.8M | $233.4M | 50x | as long as short |
| Hyperliquid BTC | +0.0100% | 1h | 86,592 | +0.088% | $3.81B | $5.09B | 40x | as long as short |
| Pacifica BTC | +0.0100% | 1h | 86,546.8 | +0.036% | $41.1M | $505.2M | 50x | as long as short |
| OKX BTC-USDT-SWAP | +0.0100% | 8h | 86,519.5 | +0.004% | $2.54B | $12.69B | 100x | as long as short |
| Ondo Perps BTC-USD.P | +0.0100% | 1h | 86,539 | +0.027% | $3.9M | $18.6M | 25x | as long as short |
| Arcus BTC-USD | +0.0100% | 1h | 86,616.5 | +0.117% | $7.4M | $93.7M | 40x | as long as short |
| Bulk BTC-USD | +0.0100% | 1h | 86,703.1 | +0.217% | $573.0M | $18.8M | 40x | as long as short |
| Backpack BTC_USDC_PERP | +0.0100% | 1h | 86,488.3 | −0.032% | $38.4M | $153.2M | 75x | as long as short |
| Variational Omni BTC | +0.0100% | 8h | 86,696.3 | +0.209% | $156.8M | $565.9M | — | as long as short |
| edgeX BTCUSDC | +0.0100% | 4h | 86,636.2 | +0.139% | $280.0M | $943.9M | 100x | as long as short |
| GRVT BTC_USDT_Perp | +0.0100% | 8h | 86,641.8 | +0.146% | $217.4M | $174.1M | 50x | as long as short |
| ApeX Omni BTCUSDT | +0.0100% | 1h | 86,642.9 | +0.147% | $141.6M | $323.1M | 100x | as long as short |
| StandX BTC-USD | +0.0100% | 1h | 86,628.7 | +0.131% | $30.7M | $203.4M | 40x | as long as short |
| Vest BTC-PERP | +0.0100% | 1h | 86,586.2 | +0.082% | — | $11.6M | 50x | as long as short |
| Polymarket Perps BTC-USD | +0.0100% | 1h | 86,524 | +0.010% | $11.1M | $13.6M | 50x | as long as short |
| Bullet BTC-USD | +0.0100% | 1h | 86,515 | −0.001% | $193K | $3.3M | 20x | as long as short |
| Orderly PERP_BTC_USDC | +0.0100% | 8h | 86,521.1 | +0.006% | $2.4M | $8.6M | 100x | as long as short |
| Derive BTC-PERPlong | +0.0100% | 1h | 86,515.6 | long leg | $30.0M | $61.6M | 15x | |
| SunX BTC-USDT | +0.0100% | 8h | 86,536.8 | +0.024% | $3.4M | $5.4M | 100x | as long as short |
| HTX BTC-USDT | +0.0100% | 8h | 86,499.2 | −0.019% | $2.30B | $964.4M | 200x | as long as short |
| Extended BTC-USD | +0.0104% | 1h | 86,494.8 | −0.024% | $46.4M | $225.3M | 50x | as long as short |
| Jupiter Perps WBTC-PERP | L +0.0104% / S +0.0048% | 1h | 86,577.3 | +0.071% | — | $98.2M | 500x | as long as short |
| Coinbase International BTC-PERP-INTX | +0.0112% | 1h | 86,537.1 | +0.025% | $131.6M | $5.71B | 50x | as long as short |
| Kraken Futures PF_XBTUSD | +0.0121% | 1h | 86,531.6 | +0.018% | $191.5M | $937.0M | 100x | as long as short |
| GMX BTC/USD [WBTC.b-USDC] | L +0.0180% / S −0.0208% | 1h | 86,527.9 | +0.014% | $15.1M | — | 200x | as long as short |
| BloFin BTC-USDT | +0.0182% | 8h | 86,570 | +0.063% | $414.5M | $651.5M | 150x | as long as short |
| Kalshi KXBTCPERP | +0.0195% | 8h | 86,571 | +0.064% | $9.6M | $728.3M | 6.4x | as long as short |
gTrade (Gains Network) BTC/USD
RISEx BTC/USDC
Reya BTCRUSDPERP
Injective BTC/USDC PERP
Phemex BTCUSDT
BingX BTC-USDC
Hibachi BTC/USDT-P
Bitget BTCUSDT
MEXC BTC_USDT
Binance BTCUSDT
Aevo BTC-PERP
Gate BTC_USDT
Bybit BTCUSDT
Lighter BTC
Lighter RH BTC
Popdex BTCUSDT
Katana Perps BTC-USD
Paradex BTC-USD-PERP
Nado BTC-PERP
Hyperliquid BTC
Pacifica BTC
OKX BTC-USDT-SWAP
Ondo Perps BTC-USD.P
Arcus BTC-USD
Bulk BTC-USD
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
SunX BTC-USDT
HTX BTC-USDT
Extended BTC-USD
Jupiter Perps WBTC-PERP
Coinbase International BTC-PERP-INTX
Kraken Futures PF_XBTUSD
GMX BTC/USD [WBTC.b-USDC]
BloFin BTC-USDT
Kalshi KXBTCPERP