Funding you earn now, next payment 23:00 UTC+0.0111%/8h= +12.1% APRpaid last 24h +0.034%
Price spread now: Orderly against dYdX−0.059%7-day average −0.013% · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 7 days+0.179%+$18 on $10k
+Price spread, last 3 days (all we have)+0.031%+$3 · spread now −0.059%, 7d avg −0.013%
=Funding pays, the price is against you. Orderly is 0.046% cheaper against dYdX than usual: you would sell low and buy high (spread −0.059% now, against its 7-day average of −0.013%). If the spread goes back, that is −$5 on $10k: about 33 hours of funding at the current rate (+$3 a day).
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | dYdX BTC-USD | 86,627.2 | −0.0011 | get 0.0001% / 1h | 37m 07s | $17.5M | $20.3M | 50x |
| Short | Orderly PERP_BTC_USDC | 86,576.3 | 0.0100 | get 0.0100% / 8h | 1h 37m | $2.4M | $8.6M | 100x |
dYdX BTC-USD
Orderly PERP_BTC_USDCFunding history
latest
Range statsloading…
Price spread between the two exchanges
Orderly against dYdX. 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
- $23.25
- Price spread: −0.059% → −0.013%
- −$4.59
- Slippage, 4 orders
- no order book: not counted
- Fee dYdX: 5 bp × 2 orders
- −$10
- Fee Orderly: 3 bp × 2 orders
- −$6
- Net
- $2.67
- Costs to cover
- 0.160%
- Break-even
- 6.2 days
Slippage unknown: dYdX: live order book, 2 min ago; Orderly: 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 dYdX live order book, 2 min ago | 0.12 bp | 6.3 bp −$6 | 20.5 bp −$205 | 32.6 bp −$3,257 | 69.9 bp −$35.0K |
| Sell Orderly no order-book sample | — | — | — | — | — |
Orderly: 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 | −0.0753% | 1h | 86,588 | −0.045% | $140K | $618K | 40x | as long as short |
| Phoenix BTC | −0.0159% | 1h | 86,627 | 0.000% | $2.2M | $11.8M | 40x | as long as short |
| Aftermath Perps BTCUSD | −0.0153% | 1h | 86,645.4 | +0.021% | $83K | $215K | 20x | as long as short |
| Hotstuff BTC-PERP | −0.0080% | 1h | 86,606 | −0.024% | $9K | $3K | 50x | as long as short |
| dYdX BTC-USDlong | −0.0011% | 1h | 86,627.2 | long leg | $17.5M | $20.3M | 50x | |
| 01 Exchange BTCUSD | −0.0008% | 1h | 86,603.6 | −0.027% | $359K | $2.4M | 50x | as long as short |
| Aster BTCUSDT | −0.0007% | 8h | 86,571.3 | −0.065% | $505.2M | $1.15B | 200x | as long as short |
| Perpl BTC | 0.0000% | 43m | 86,598.6 | −0.033% | $419K | $23.9M | 6.7x | as long as short |
| Deribit BTC-PERPETUAL | 0.0000% | 1h | 86,602.6 | −0.028% | $925.1M | $1.47B | 50x | as long as short |
| KuCoin XBTUSDTM | +0.0001% | 8h | 86,569.3 | −0.067% | $852.2M | $708.1M | 125x | as long as short |
Bluefin BTC-PERP
Phoenix BTC
Aftermath Perps BTCUSD
Hotstuff BTC-PERP
01 Exchange BTCUSD
Aster BTCUSDT
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 | 86,595.3 | −0.037% | $36.8M | — | 200x | as long as short |
| RISEx BTC/USDC | +0.0006% | 1h | 86,601.5 | −0.030% | $8.6M | $43.2M | 25x | as long as short |
| Reya BTCRUSDPERP | +0.0022% | 1h | 86,573.6 | −0.062% | $6.7M | $144.8M | 40x | as long as short |
| Injective BTC/USDC PERP | +0.0024% | 1h | 86,559 | −0.079% | $315K | $26.8M | 52x | as long as short |
| Phemex BTCUSDT | +0.0029% | 8h | 86,570.1 | −0.066% | $150.3M | $473.7M | 150x | as long as short |
| BingX BTC-USDC | +0.0032% | 8h | 86,565.3 | −0.071% | — | $15.3M | — | as long as short |
| Hibachi BTC/USDT-P | +0.0040% | 1h | 86,683.5 | +0.065% | $731K | $8.2M | 30x | as long as short |
| Bitget BTCUSDT | +0.0042% | 8h | 86,582 | −0.052% | $2.95B | $5.07B | 150x | as long as short |
| MEXC BTC_USDT | +0.0061% | 8h | 86,575.7 | −0.059% | $5.18B | $5.64B | 500x | as long as short |
| Binance BTCUSDT | +0.0062% | 8h | 86,575.8 | −0.059% | $9.42B | $24.31B | 150x | as long as short |
| Aevo BTC-PERP | +0.0064% | 1h | 86,565.9 | −0.071% | $2.4M | $1.3M | 20x | as long as short |
| Gate BTC_USDT | +0.0076% | 8h | 86,572.4 | −0.063% | $5.85B | $10.65B | 200x | as long as short |
| Bybit BTCUSDT | +0.0090% | 8h | 86,585.3 | −0.048% | $5.27B | $9.70B | 150x | as long as short |
| Lighter BTC | +0.0096% | 1h | 86,579.1 | −0.056% | $171.8M | $1.00B | 50x | as long as short |
| Lighter RH BTC | +0.0096% | 1h | 86,592.7 | −0.040% | $24.1M | $151.8M | 50x | as long as short |
| Popdex BTCUSDT | +0.0096% | 1h | 86,587 | −0.046% | $8.5M | $52.2M | 100x | as long as short |
| Katana Perps BTC-USD | +0.0100% | 8h | 86,585 | −0.049% | $204K | $6.9M | 50x | as long as short |
| Paradex BTC-USD-PERP | +0.0100% | 8h | 86,631.6 | +0.005% | $4.8M | $8.4M | 50x | as long as short |
| Nado BTC-PERP | +0.0100% | 1h | 86,602.6 | −0.028% | $21.8M | $233.4M | 50x | as long as short |
| Hyperliquid BTC | +0.0100% | 1h | 86,653 | +0.030% | $3.81B | $5.08B | 40x | as long as short |
| Pacifica BTC | +0.0100% | 1h | 86,643.6 | +0.019% | $41.1M | $505.2M | 50x | as long as short |
| OKX BTC-USDT-SWAP | +0.0100% | 8h | 86,587.2 | −0.046% | $2.55B | $12.69B | 100x | as long as short |
| Ondo Perps BTC-USD.P | +0.0100% | 1h | 86,606 | −0.024% | $3.9M | $18.6M | 25x | as long as short |
| Arcus BTC-USD | +0.0100% | 1h | 86,678.3 | +0.059% | $7.4M | $93.8M | 40x | as long as short |
| Bulk BTC-USD | +0.0100% | 1h | 86,703.1 | +0.088% | $573.0M | $18.8M | 40x | as long as short |
| Backpack BTC_USDC_PERP | +0.0100% | 1h | 86,570.7 | −0.065% | $38.4M | $153.2M | 75x | as long as short |
| Variational Omni BTC | +0.0100% | 8h | 86,696.3 | +0.080% | $156.8M | $565.9M | — | as long as short |
| edgeX BTCUSDC | +0.0100% | 4h | 86,636.2 | +0.010% | $280.0M | $943.9M | 100x | as long as short |
| GRVT BTC_USDT_Perp | +0.0100% | 8h | 86,641.8 | +0.017% | $217.4M | $174.1M | 50x | as long as short |
| ApeX Omni BTCUSDT | +0.0100% | 1h | 86,642.9 | +0.018% | $141.6M | $323.1M | 100x | as long as short |
| StandX BTC-USD | +0.0100% | 1h | 86,666 | +0.045% | $30.7M | $203.4M | 40x | as long as short |
| Vest BTC-PERP | +0.0100% | 1h | 86,649.2 | +0.025% | — | $11.6M | 50x | as long as short |
| Polymarket Perps BTC-USD | +0.0100% | 1h | 86,587 | −0.046% | $11.1M | $13.6M | 50x | as long as short |
| Bullet BTC-USD | +0.0100% | 1h | 86,586 | −0.048% | $194K | $3.3M | 20x | as long as short |
| Orderly PERP_BTC_USDCshort | +0.0100% | 8h | 86,576.3 | −0.059% | $2.4M | $8.6M | 100x | |
| Derive BTC-PERP | +0.0100% | 1h | 86,570.8 | −0.065% | $30.0M | $61.6M | 15x | as long as short |
| SunX BTC-USDT | +0.0100% | 8h | 86,620.2 | −0.008% | $3.4M | $5.4M | 100x | as long as short |
| SoDEX BTC-USD | +0.0100% | 1h | 86,568 | −0.068% | $60.5M | $337.0M | 40x | as long as short |
| HTX BTC-USDT | +0.0100% | 8h | 86,566.6 | −0.070% | $2.30B | $964.2M | 200x | as long as short |
| Extended BTC-USD | +0.0104% | 1h | 86,553.1 | −0.086% | $46.4M | $225.3M | 50x | as long as short |
| Jupiter Perps WBTC-PERP | L +0.0104% / S +0.0048% | 1h | 86,632.2 | +0.006% | — | $98.2M | 500x | as long as short |
| Coinbase International BTC-PERP-INTX | +0.0112% | 1h | 86,611.6 | −0.018% | $131.7M | $5.71B | 50x | as long as short |
| Kraken Futures PF_XBTUSD | +0.0121% | 1h | 86,601.7 | −0.029% | $191.6M | $937.0M | 100x | as long as short |
| GMX BTC/USD [WBTC.b-USDC] | L +0.0180% / S −0.0208% | 1h | 86,601.8 | −0.029% | $15.1M | — | 200x | as long as short |
| BloFin BTC-USDT | +0.0182% | 8h | 86,570 | −0.066% | $414.5M | $651.5M | 150x | as long as short |
| Kalshi KXBTCPERP | +0.0194% | 8h | 86,624 | −0.004% | $9.7M | $728.0M | 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
Derive BTC-PERP
SunX BTC-USDT
SoDEX BTC-USD
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