Funding you earn now, next payment 23:00 UTC−0.0116%/8h= −12.7% APRnext payment −$0.15 per $10,000 · paid last 24h −0.040%
Price spread now: 01 Exchange against Derive−0.001%7-day average +0.019% · 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)−0.050%−$5 on $10k
+Price spread, last 3 days (all we have)+0.086%+$9 · spread now −0.001%, 7d avg +0.019%
=The price spread sits at its 7-day average of +0.019%, 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 | 86,366.6 | 0.0100 | pay 0.0013% / 1h | 11m 44s | $30.6M | $62.2M | 15x |
| Short | 01 Exchange BTCUSD | 86,366.1 | −0.0016 | pay 0.0002% / 1h | 11m 44s | $360K | $2.5M | 50x |
Derive BTC-PERP
01 Exchange BTCUSDFunding history
latest
Range statsloading…
Price spread between the two exchanges
01 Exchange 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
- −$24.36
- Price spread: −0.001% → +0.019%
- −$1.98
- Slippage, 4 orders
- no order book: not counted
- Fee Derive: 3 bp × 2 orders
- −$6
- Fee 01 Exchange: 3.5 bp × 2 orders
- −$7
- Net
- −$39.34
- Costs to cover
- 0.130%
- Break-even
- never at this rate
Slippage unknown: Derive: no order-book sample; 01 Exchange: live order book, 2 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 01 Exchange live order book, 2 min ago | 0.01 bp | 3.7 bp −$4 | 7.9 bp −$79 | doesn't fit | 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 | −0.0656% | 1h | 86,373.6 | +0.008% | $140K | $620K | 40x | as long as short |
| Phoenix BTC | −0.0159% | 1h | 86,402 | +0.041% | $2.2M | $11.8M | 40x | as long as short |
| Hotstuff BTC-PERP | −0.0080% | 1h | 86,347 | −0.023% | $9K | $3K | 50x | as long as short |
| 01 Exchange BTCUSDshort | −0.0016% | 1h | 86,366.1 | −0.001% | $360K | $2.5M | 50x | |
| Aster BTCUSDT | −0.0011% | 8h | 86,331.8 | −0.040% | $503.1M | $1.15B | 200x | as long as short |
| Deribit BTC-PERPETUAL | 0.0000% | 1h | 86,384.7 | +0.021% | $917.8M | $1.49B | 50x | as long as short |
| KuCoin XBTUSDTM | +0.0003% | 8h | 86,327 | −0.046% | $850.6M | $712.2M | 125x | as long as short |
| gTrade (Gains Network) BTC/USD | L +0.0005% / S −0.0004% | 1h | 86,371.6 | +0.006% | $36.8M | — | 200x | as long as short |
| dYdX BTC-USD | +0.0005% | 1h | 86,353.5 | −0.015% | $16.9M | $21.1M | 50x | as long as short |
| RISEx BTC/USDC | +0.0006% | 1h | 86,360.9 | −0.007% | $8.4M | $42.8M | 25x | as long as short |
Bluefin BTC-PERP
Phoenix BTC
Hotstuff BTC-PERP
Aster BTCUSDT
Deribit BTC-PERPETUAL
KuCoin XBTUSDTM
gTrade (Gains Network) BTC/USD
dYdX BTC-USD
RISEx BTC/USDCShow all 56 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Reya BTCRUSDPERP | +0.0023% | 1h | 86,345.8 | −0.024% | $6.7M | $145.0M | 40x | as long as short |
| Injective BTC/USDC PERP | +0.0024% | 1h | 86,360 | −0.008% | $332K | $26.8M | 52x | as long as short |
| BingX BTC-USDC | +0.0036% | 8h | 86,314.8 | −0.060% | — | $15.4M | — | as long as short |
| Aftermath Perps BTCUSD | +0.0038% | 1h | 86,428 | +0.071% | $81K | $218K | 20x | as long as short |
| Phemex BTCUSDT | +0.0041% | 8h | 86,357.1 | −0.011% | $150.1M | $476.7M | 150x | as long as short |
| Bitget BTCUSDT | +0.0046% | 8h | 86,330.7 | −0.042% | $2.95B | $5.10B | 150x | as long as short |
| MEXC BTC_USDT | +0.0063% | 8h | 86,331.1 | −0.041% | $5.13B | $5.71B | 500x | as long as short |
| Binance BTCUSDT | +0.0064% | 8h | 86,332.9 | −0.039% | $9.41B | $24.44B | 150x | as long as short |
| Aevo BTC-PERP | +0.0064% | 1h | 86,345 | −0.025% | $2.4M | $1.3M | 20x | as long as short |
| Gate BTC_USDT | +0.0080% | 8h | 86,335.8 | −0.036% | $5.84B | $10.75B | 200x | as long as short |
| Bybit BTCUSDT | +0.0093% | 8h | 86,337 | −0.034% | $5.25B | $9.78B | 150x | as long as short |
| Lighter BTC | +0.0096% | 1h | 86,344 | −0.026% | $170.4M | $1.01B | 50x | as long as short |
| Lighter RH BTC | +0.0096% | 1h | 86,350.3 | −0.019% | $24.1M | $152.5M | 50x | as long as short |
| Popdex BTCUSDT | +0.0096% | 1h | 86,357 | −0.011% | $8.4M | $52.4M | 100x | as long as short |
| Katana Perps BTC-USD | +0.0100% | 8h | 86,336 | −0.035% | $202K | $6.9M | 50x | as long as short |
| Paradex BTC-USD-PERP | +0.0100% | 8h | 86,370.3 | +0.004% | $4.8M | $8.5M | 50x | as long as short |
| Nado BTC-PERP | +0.0100% | 1h | 86,352.8 | −0.016% | $21.6M | $234.6M | 50x | as long as short |
| Hyperliquid BTC | +0.0100% | 1h | 86,399 | +0.038% | $3.79B | $5.10B | 40x | as long as short |
| Pacifica BTC | +0.0100% | 1h | 86,367.9 | +0.002% | $40.7M | $513.8M | 50x | as long as short |
| OKX BTC-USDT-SWAP | +0.0100% | 8h | 86,340.5 | −0.030% | $2.53B | $12.71B | 100x | as long as short |
| Ondo Perps BTC-USD.P | +0.0100% | 1h | 86,342 | −0.028% | $3.9M | $18.6M | 25x | as long as short |
| Arcus BTC-USD | +0.0100% | 1h | 86,384.7 | +0.021% | $7.8M | $94.8M | 40x | as long as short |
| Bulk BTC-USD | +0.0100% | 1h | 86,498.7 | +0.153% | $571.7M | $18.6M | 40x | as long as short |
| Backpack BTC_USDC_PERP | +0.0100% | 1h | 86,337.9 | −0.033% | $37.8M | $155.0M | 75x | as long as short |
| Variational Omni BTC | +0.0100% | 8h | 86,394.8 | +0.033% | $155.5M | $568.5M | — | as long as short |
| edgeX BTCUSDC | +0.0100% | 4h | 86,426.9 | +0.070% | $279.3M | $949.8M | 100x | as long as short |
| GRVT BTC_USDT_Perp | +0.0100% | 8h | 86,418.2 | +0.060% | $217.1M | $176.0M | 50x | as long as short |
| ApeX Omni BTCUSDT | +0.0100% | 1h | 86,418.4 | +0.060% | $141.3M | $323.7M | 100x | as long as short |
| StandX BTC-USD | +0.0100% | 1h | 86,380 | +0.016% | $30.7M | $203.9M | 40x | as long as short |
| Vest BTC-PERP | +0.0100% | 1h | 86,401.9 | +0.041% | — | $11.6M | 50x | as long as short |
| Polymarket Perps BTC-USD | +0.0100% | 1h | 86,354 | −0.015% | $11.1M | $13.8M | 50x | as long as short |
| Bullet BTC-USD | +0.0100% | 1h | 86,357 | −0.011% | $190K | $3.4M | 20x | as long as short |
| Orderly PERP_BTC_USDC | +0.0100% | 8h | 86,356.2 | −0.012% | $2.4M | $8.7M | 100x | as long as short |
| Derive BTC-PERPlong | +0.0100% | 1h | 86,366.6 | long leg | $30.6M | $62.2M | 15x | |
| SunX BTC-USDT | +0.0100% | 8h | 86,349.3 | −0.020% | $3.4M | $5.4M | 100x | as long as short |
| SoDEX BTC-USD | +0.0100% | 1h | 86,350 | −0.019% | $60.4M | $337.3M | 40x | as long as short |
| HTX BTC-USDT | +0.0100% | 8h | 86,346.3 | −0.024% | $2.29B | $968.5M | 200x | as long as short |
| Extended BTC-USD | +0.0104% | 1h | 86,310.4 | −0.065% | $45.6M | $226.3M | 50x | as long as short |
| Jupiter Perps WBTC-PERP | L +0.0104% / S +0.0048% | 1h | 86,371.2 | +0.005% | — | $98.8M | 500x | as long as short |
| Perpl BTC | +0.0112% | 43m | 86,372.8 | +0.007% | $421K | $23.6M | 6.7x | as long as short |
| Hibachi BTC/USDT-P | +0.0112% | 1h | 86,387.5 | +0.024% | $719K | $8.1M | 30x | as long as short |
| Coinbase International BTC-PERP-INTX | +0.0112% | 1h | 86,389.1 | +0.026% | $131.3M | $5.69B | 50x | as long as short |
| Kraken Futures PF_XBTUSD | +0.0121% | 1h | 86,372.4 | +0.007% | $191.1M | $944.0M | 100x | as long as short |
| BloFin BTC-USDT | +0.0184% | 8h | 86,353.7 | −0.015% | $414.2M | $653.5M | 150x | as long as short |
| GMX BTC/USD [WBTC.b-USDC] | L +0.0187% / S −0.0213% | 1h | 86,365.2 | −0.002% | $15.2M | — | 200x | as long as short |
| Kalshi KXBTCPERP | +0.0199% | 8h | 86,386 | +0.022% | $9.8M | $734.6M | 6.4x | as long as short |
Reya BTCRUSDPERP
Injective BTC/USDC PERP
BingX BTC-USDC
Aftermath Perps BTCUSD
Phemex BTCUSDT
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
SoDEX BTC-USD
HTX BTC-USDT
Extended BTC-USD
Jupiter Perps WBTC-PERP
Perpl BTC
Hibachi BTC/USDT-P
Coinbase International BTC-PERP-INTX
Kraken Futures PF_XBTUSD
BloFin BTC-USDT
GMX BTC/USD [WBTC.b-USDC]
Kalshi KXBTCPERP