Funding you earn now, next payment 01:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.007%
Price spread now: Variational Omni against Derive−0.070%7-day average −0.010% · 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)+0.037%+$4 on $10k
+Price spread, last 3 days (all we have)+0.081%+$8 · spread now −0.070%, 7d avg −0.010%
=Together, before fees+0.118%+ Points / potential airdropVariational Omni: Active · farm board+$12 on $10k · with fees, hour by hour
Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Variational Omni is 0.059% cheaper against Derive than usual: you would sell low and buy high, −$6 on $10k if it goes back to its 7-day average of −0.010%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Derive BTC-PERP | 86,332 | 0.0100 | pay 0.0013% / 1h | 19m 55s | $30.3M | $56.9M | 15x |
| Short | Variational Omni BTC | 86,271.9 | 0.0100 | get 0.0100% / 8h | 7h 19m | $157.9M | $558.2M | — |
Derive BTC-PERP
Variational Omni BTCFunding history
latest
Range statsloading…
Price spread between the two exchanges
Variational Omni 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
- Price spread: −0.070% → −0.010%
- −$5.94
- Slippage, 4 orders
- no order book: not counted
- Fee Derive: 3 bp × 2 orders
- −$6
- Fee Variational Omni: 0 bp × 2 orders
- $0
- Net
- −$11.94
- Costs to cover
- 0.060%
- Break-even
- never at this rate
Slippage unknown: Derive: no order-book sample; Variational Omni: RFQ quote, 4 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 Variational Omni RFQ quote, 4 min ago | 0.56 bp | doesn't fit | 0.6 bp −$6 | 1.3 bp −$131 | 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 | −0.0139% | 1h | 86,337.5 | +0.006% | $144K | $666K | 40x | as long as short |
| Phoenix BTC | −0.0129% | 1h | 86,359 | +0.031% | $2.2M | $11.2M | 40x | as long as short |
| Hotstuff BTC-PERP | −0.0080% | 1h | 86,289 | −0.050% | $9K | $3K | 50x | as long as short |
| 01 Exchange BTCUSD | −0.0032% | 1h | 86,288.4 | −0.050% | $363K | $2.4M | 50x | as long as short |
| Perpl BTC | 0.0000% | 43m | 86,303.8 | −0.033% | $481K | $21.4M | 6.7x | as long as short |
| gTrade (Gains Network) BTC/USD | L +0.0005% / S −0.0004% | 1h | 86,316.4 | −0.018% | $36.9M | — | 200x | as long as short |
| Injective BTC/USDC PERP | +0.0023% | 1h | 86,358 | +0.030% | $343K | $26.9M | 52x | as long as short |
| dYdX BTC-USD | +0.0024% | 1h | 86,292.5 | −0.046% | $16.9M | $20.5M | 50x | as long as short |
| Aster BTCUSDT | +0.0030% | 8h | 86,304.5 | −0.032% | $500.5M | $1.13B | 200x | as long as short |
| KuCoin XBTUSDTM | +0.0042% | 8h | 86,296 | −0.042% | $831.1M | $717.9M | 125x | as long as short |
Bluefin BTC-PERP
Phoenix BTC
Hotstuff BTC-PERP
01 Exchange BTCUSD
Perpl BTC
gTrade (Gains Network) BTC/USD
Injective BTC/USDC PERP
dYdX BTC-USD
Aster BTCUSDT
KuCoin XBTUSDTMShow all 56 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Reya BTCRUSDPERP | +0.0047% | 1h | 86,284.7 | −0.055% | $6.7M | $145.8M | 40x | as long as short |
| BingX BTC-USDC | +0.0050% | 8h | 86,231.7 | −0.116% | — | $15.3M | — | as long as short |
| RISEx BTC/USDC | +0.0052% | 1h | 86,299.6 | −0.038% | $8.3M | $42.4M | 25x | as long as short |
| Bitget BTCUSDT | +0.0064% | 8h | 86,263.3 | −0.080% | $2.97B | $5.04B | 150x | as long as short |
| Aevo BTC-PERP | +0.0080% | 1h | 86,310.7 | −0.025% | $2.5M | $1.8M | 20x | as long as short |
| SoDEX BTC-USD | +0.0081% | 1h | 86,305 | −0.031% | $60.4M | $338.2M | 40x | as long as short |
| MEXC BTC_USDT | +0.0083% | 8h | 86,260.4 | −0.083% | $5.13B | $5.72B | 500x | as long as short |
| Binance BTCUSDT | +0.0083% | 8h | 86,250.6 | −0.094% | $9.40B | $24.27B | 150x | as long as short |
| Lighter BTC | +0.0096% | 1h | 86,315.8 | −0.019% | $170.5M | $988.3M | 50x | as long as short |
| Lighter RH BTC | +0.0096% | 1h | 86,322.8 | −0.011% | $23.7M | $150.9M | 50x | as long as short |
| Popdex BTCUSDT | +0.0096% | 1h | 86,291 | −0.047% | $8.4M | $52.0M | 100x | as long as short |
| Gate BTC_USDT | +0.0099% | 8h | 86,296.5 | −0.041% | $5.78B | $10.57B | 200x | as long as short |
| Katana Perps BTC-USD | +0.0100% | 8h | 86,256 | −0.088% | $197K | $7.2M | 50x | as long as short |
| Paradex BTC-USD-PERP | +0.0100% | 8h | 86,308.2 | −0.028% | $4.2M | $8.6M | 50x | as long as short |
| Nado BTC-PERP | +0.0100% | 1h | 86,294.8 | −0.043% | $22.1M | $227.0M | 50x | as long as short |
| Hyperliquid BTC | +0.0100% | 1h | 86,357 | +0.029% | $3.79B | $4.97B | 40x | as long as short |
| Pacifica BTC | +0.0100% | 1h | 86,306 | −0.030% | $41.1M | $552.2M | 50x | as long as short |
| Bybit BTCUSDT | +0.0100% | 8h | 86,308.2 | −0.028% | $5.25B | $9.66B | 150x | as long as short |
| OKX BTC-USDT-SWAP | +0.0100% | 8h | 86,295.9 | −0.042% | $2.56B | $12.45B | 100x | as long as short |
| Ondo Perps BTC-USD.P | +0.0100% | 1h | 86,287 | −0.052% | $3.9M | $17.8M | 25x | as long as short |
| Arcus BTC-USD | +0.0100% | 1h | 86,313.2 | −0.022% | $7.2M | $94.9M | 40x | as long as short |
| Backpack BTC_USDC_PERP | +0.0100% | 1h | 86,289.7 | −0.049% | $37.4M | $159.0M | 75x | as long as short |
| Variational Omni BTCshort | +0.0100% | 8h | 86,271.9 | −0.070% | $157.9M | $558.2M | — | |
| edgeX BTCUSDC | +0.0100% | 4h | 86,378.6 | +0.054% | $279.0M | $949.9M | 100x | as long as short |
| GRVT BTC_USDT_Perp | +0.0100% | 8h | 86,434.6 | +0.119% | $217.1M | $165.2M | 50x | as long as short |
| ApeX Omni BTCUSDT | +0.0100% | 1h | 86,403.6 | +0.083% | $141.5M | $321.0M | 100x | as long as short |
| StandX BTC-USD | +0.0100% | 1h | 86,307.5 | −0.028% | $30.6M | $208.8M | 40x | as long as short |
| Vest BTC-PERP | +0.0100% | 1h | 86,326.8 | −0.006% | — | $11.8M | 50x | as long as short |
| Polymarket Perps BTC-USD | +0.0100% | 1h | 86,288 | −0.051% | $11.1M | $14.1M | 50x | as long as short |
| Bullet BTC-USD | +0.0100% | 1h | 86,304 | −0.032% | $191K | $3.3M | 20x | as long as short |
| Orderly PERP_BTC_USDC | +0.0100% | 8h | 86,316.1 | −0.018% | $2.4M | $8.9M | 100x | as long as short |
| Derive BTC-PERPlong | +0.0100% | 1h | 86,332 | long leg | $30.3M | $56.9M | 15x | |
| SunX BTC-USDT | +0.0100% | 8h | 86,295.9 | −0.042% | $3.4M | $5.4M | 100x | as long as short |
| HTX BTC-USDT | +0.0100% | 8h | 86,275.9 | −0.065% | $2.29B | $958.6M | 200x | as long as short |
| Phemex BTCUSDT | +0.0100% | 8h | 86,312.1 | −0.023% | $155.1M | $473.1M | 150x | as long as short |
| Bulk BTC-USD | +0.0100% | 1h | 86,411.1 | +0.092% | $576.0M | $32.8M | 40x | as long as short |
| Extended BTC-USD | +0.0104% | 1h | 86,242.9 | −0.103% | $46.1M | $222.0M | 50x | as long as short |
| Jupiter Perps WBTC-PERP | L +0.0104% / S +0.0048% | 1h | 86,300.3 | −0.037% | — | $98.5M | 500x | as long as short |
| Coinbase International BTC-PERP-INTX | +0.0120% | 1h | 86,341.1 | +0.011% | $132.5M | $5.34B | 50x | as long as short |
| Kraken Futures PF_XBTUSD | +0.0121% | 1h | 86,333.3 | +0.002% | $192.4M | $944.4M | 100x | as long as short |
| Deribit BTC-PERPETUAL | +0.0153% | 1h | 86,350.1 | +0.021% | $902.2M | $1.51B | 50x | as long as short |
| Hibachi BTC/USDT-P | +0.0168% | 1h | 86,341.8 | +0.011% | $709K | $7.9M | 30x | as long as short |
| Aftermath Perps BTCUSD | +0.0170% | 1h | 86,381.2 | +0.057% | $77K | $217K | 20x | as long as short |
| BloFin BTC-USDT | +0.0203% | 8h | 86,280.1 | −0.060% | $415.0M | $641.3M | 150x | as long as short |
| Kalshi KXBTCPERP | +0.0206% | 8h | 86,311 | −0.024% | $10.6M | $765.1M | 6.4x | as long as short |
| GMX BTC/USD [WBTC.b-USDC] | L +0.0206% / S −0.0221% | 1h | 86,310.7 | −0.025% | $14.5M | — | 200x | as long as short |
Reya BTCRUSDPERP
BingX BTC-USDC
RISEx BTC/USDC
Bitget BTCUSDT
Aevo BTC-PERP
SoDEX BTC-USD
MEXC BTC_USDT
Binance BTCUSDT
Lighter BTC
Lighter RH BTC
Popdex BTCUSDT
Gate BTC_USDT
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
Backpack BTC_USDC_PERP
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
Phemex BTCUSDT
Bulk BTC-USD
Extended BTC-USD
Jupiter Perps WBTC-PERP
Coinbase International BTC-PERP-INTX
Kraken Futures PF_XBTUSD
Deribit BTC-PERPETUAL
Hibachi BTC/USDT-P
Aftermath Perps BTCUSD
BloFin BTC-USDT
Kalshi KXBTCPERP
GMX BTC/USD [WBTC.b-USDC]