Funding you earn now, next payment 04:00 UTC−0.0004%/8h= −0.4% APRnext payment −$0.00 per $10,000 · paid last 24h +0.012%
Price spread now: Derive against Extended+0.022%7-day average +0.031% · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 7 days−0.082%−$8 on $10k
+Price spread, last 4 days (all we have)−0.097%−$10 · spread now +0.022%, 7d avg +0.031%
=Together, before fees−0.179%+ Points / potential airdropExtended: Active · farm board−$18 on $10k · with fees, hour by hour
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Extended BTC-USD | 85,550.6 | 0.0104 | pay 0.0013% / 1h | 30m 20s | $44.5M | $228.0M | 50x |
| Short | Derive BTC-PERP | 85,569.2 | 0.0100 | get 0.0013% / 1h | 30m 20s | $30.0M | $50.9M | 15x |
Extended BTC-USD
Derive BTC-PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Derive against Extended. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
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How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$0.84
- Price spread: +0.022% → +0.031%
- −$0.93
- Slippage, 4 orders
- no order book: not counted
- Fee Extended: 2.5 bp × 2 orders
- −$5
- Fee Derive: 3 bp × 2 orders
- −$6
- Net
- −$12.77
- Costs to cover
- 0.110%
- Break-even
- never at this rate
Slippage unknown: Extended: live order book, 4 min ago; Derive: 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 Extended live order book, 4 min ago | 0.06 bp | 2.6 bp −$3 | 2.6 bp −$26 | 3.1 bp −$312 | 9.5 bp −$4,769 |
| Sell Derive no order-book sample | — | — | — | — | — |
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 | |
|---|---|---|---|---|---|---|---|---|
| Phoenix BTC | −0.0179% | 1h | 85,517 | −0.039% | $2.2M | $10.3M | 40x | as long as short |
| Hotstuff BTC-PERP | −0.0080% | 1h | 85,609 | +0.068% | $8K | $3K | 50x | as long as short |
| 01 Exchange BTCUSD | −0.0056% | 1h | 85,562.6 | +0.014% | $365K | $2.3M | 50x | as long as short |
| BloFin BTC-USDT | −0.0024% | 8h | 85,577.7 | +0.032% | $418.0M | $668.3M | 150x | as long as short |
| KuCoin XBTUSDTM | −0.0014% | 8h | 85,539.3 | −0.013% | $921.1M | $750.8M | 125x | as long as short |
| gTrade (Gains Network) BTC/USD | L +0.0005% / S −0.0004% | 1h | 85,574.8 | +0.028% | $36.6M | — | 200x | as long as short |
| Aster BTCUSDT | +0.0015% | 8h | 85,589.5 | +0.046% | $515.8M | $1.10B | 200x | as long as short |
| dYdX BTC-USD | +0.0016% | 1h | 85,591.7 | +0.048% | $16.7M | $21.3M | 50x | as long as short |
| Arcus BTC-USD | +0.0021% | 1h | 85,561.4 | +0.013% | $4.6M | $98.3M | 40x | as long as short |
| Nado BTC-PERP | +0.0034% | 1h | 85,554.3 | +0.004% | $25.5M | $221.8M | 50x | as long as short |
Phoenix BTC
Hotstuff BTC-PERP
01 Exchange BTCUSD
BloFin BTC-USDT
KuCoin XBTUSDTM
gTrade (Gains Network) BTC/USD
Aster BTCUSDT
dYdX BTC-USD
Arcus BTC-USD
Nado BTC-PERPShow all 56 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Bluefin BTC-PERP | +0.0050% | 1h | 85,621.1 | +0.082% | $207K | $738K | 40x | as long as short |
| BingX BTC-USDT | +0.0061% | 8h | 85,565 | +0.017% | — | $1.55B | — | as long as short |
| Bitget BTCUSDT | +0.0077% | 8h | 85,573.3 | +0.027% | $2.95B | $5.07B | 150x | as long as short |
| Phemex BTCUSDT | +0.0080% | 8h | 85,560 | +0.011% | $148.2M | $486.1M | 150x | as long as short |
| Reya BTCRUSDPERP | +0.0081% | 1h | 85,543.5 | −0.008% | $6.7M | $146.7M | 40x | as long as short |
| MEXC BTC_USDT | +0.0095% | 8h | 85,559.5 | +0.010% | $5.07B | $5.62B | 500x | as long as short |
| Binance BTCUSDT | +0.0096% | 8h | 85,572.7 | +0.026% | $9.37B | $24.13B | 150x | as long as short |
| Lighter BTC | +0.0096% | 1h | 85,597.2 | +0.055% | $173.1M | $1.01B | 50x | as long as short |
| Lighter RH BTC | +0.0096% | 1h | 85,609.6 | +0.069% | $23.9M | $148.9M | 50x | as long as short |
| Popdex BTCUSDT | +0.0096% | 1h | 85,560 | +0.011% | $8.4M | $52.8M | 100x | as long as short |
| Aevo BTC-PERP | +0.0096% | 1h | 85,568.1 | +0.020% | $2.5M | $1.7M | 20x | as long as short |
| Katana Perps BTC-USD | +0.0100% | 8h | 85,536 | −0.017% | $211K | $8.1M | 50x | as long as short |
| Paradex BTC-USD-PERP | +0.0100% | 8h | 85,638 | +0.102% | $4.5M | $8.7M | 50x | as long as short |
| Hyperliquid BTC | +0.0100% | 1h | 85,644.8 | +0.110% | $3.75B | $4.98B | 40x | as long as short |
| Pacifica BTC | +0.0100% | 1h | 85,619.2 | +0.080% | $40.1M | $578.1M | 50x | as long as short |
| Bybit BTCUSDT | +0.0100% | 8h | 85,567 | +0.019% | $5.22B | $9.77B | 150x | as long as short |
| OKX BTC-USDT-SWAP | +0.0100% | 8h | 85,583.5 | +0.038% | $2.58B | $12.16B | 100x | as long as short |
| Ondo Perps BTC-USD.P | +0.0100% | 1h | 85,564 | +0.016% | $3.9M | $18.1M | 25x | as long as short |
| Gate BTC_USDT | +0.0100% | 8h | 85,569.4 | +0.022% | $5.51B | $10.69B | 200x | as long as short |
| Backpack BTC_USDC_PERP | +0.0100% | 1h | 85,574.4 | +0.028% | $35.7M | $176.3M | 75x | as long as short |
| Variational Omni BTC | +0.0100% | 8h | 85,543.7 | −0.008% | $153.8M | $564.0M | — | as long as short |
| edgeX BTCUSDC | +0.0100% | 4h | 85,356.5 | −0.227% | $278.9M | $919.2M | 100x | as long as short |
| GRVT BTC_USDT_Perp | +0.0100% | 8h | 85,388.8 | −0.189% | $214.3M | $169.8M | 50x | as long as short |
| ApeX Omni BTCUSDT | +0.0100% | 1h | 85,483.1 | −0.079% | $139.8M | $314.8M | 100x | as long as short |
| StandX BTC-USD | +0.0100% | 1h | 85,567 | +0.019% | $30.2M | $208.1M | 40x | as long as short |
| Vest BTC-PERP | +0.0100% | 1h | 85,619.5 | +0.081% | — | $11.8M | 50x | as long as short |
| Polymarket Perps BTC-USD | +0.0100% | 1h | 85,555 | +0.005% | $11.1M | $14.3M | 50x | as long as short |
| Bullet BTC-USD | +0.0100% | 1h | 85,563.2 | +0.015% | $192K | $3.3M | 20x | as long as short |
| Orderly PERP_BTC_USDC | +0.0100% | 8h | 85,575.6 | +0.029% | $2.4M | $8.9M | 100x | as long as short |
| Derive BTC-PERPshort | +0.0100% | 1h | 85,569.2 | +0.022% | $30.0M | $50.9M | 15x | |
| SunX BTC-USDT | +0.0100% | 8h | 85,570.7 | +0.024% | $2.9M | $6.1M | 100x | as long as short |
| SoDEX BTC-USD | +0.0100% | 1h | 85,578 | +0.032% | $60.0M | $336.1M | 40x | as long as short |
| HTX BTC-USDT | +0.0100% | 8h | 85,565.5 | +0.017% | $2.27B | $943.2M | 200x | as long as short |
| Bulk BTC-USD | +0.0100% | 1h | 85,369.3 | −0.212% | $653.8M | $618.7M | 40x | as long as short |
| Extended BTC-USDlong | +0.0104% | 1h | 85,550.6 | long leg | $44.5M | $228.0M | 50x | |
| Jupiter Perps WBTC-PERP | L +0.0104% / S +0.0056% | 1h | 85,575.1 | +0.029% | — | $107.4M | 500x | as long as short |
| Coinbase International BTC-PERP-INTX | +0.0104% | 1h | 85,626.9 | +0.089% | $116.9M | $5.19B | 50x | as long as short |
| Deribit BTC-PERPETUAL | +0.0123% | 1h | 85,619.1 | +0.080% | $894.7M | $1.54B | 50x | as long as short |
| Injective BTC/USDC PERP | +0.0150% | 1h | 85,539 | −0.014% | $340K | $26.9M | 52x | as long as short |
| Kraken Futures PF_XBTUSD | +0.0170% | 1h | 85,600.7 | +0.059% | $187.8M | $956.3M | 100x | as long as short |
| RISEx BTC/USDC | +0.0194% | 1h | 85,599.1 | +0.057% | $8.3M | $42.5M | 25x | as long as short |
| GMX BTC/USD [WBTC.b-USDC] | L +0.0202% / S −0.0177% | 1h | 85,570.8 | +0.024% | $13.4M | — | 200x | as long as short |
| Aftermath Perps BTCUSD | +0.0202% | 1h | 85,512.7 | −0.044% | $78K | $219K | 20x | as long as short |
| Hibachi BTC/USDT-P | +0.0208% | 1h | 85,606.9 | +0.066% | $700K | $7.9M | 30x | as long as short |
| Kalshi KXBTCPERP | +0.0217% | 8h | 85,596 | +0.053% | $10.5M | $758.7M | 6.4x | as long as short |
| Perpl BTC | +0.0447% | 43m | 85,600.3 | +0.058% | $508K | $18.9M | 6.7x | as long as short |
Bluefin BTC-PERP
BingX BTC-USDT
Bitget BTCUSDT
Phemex BTCUSDT
Reya BTCRUSDPERP
MEXC BTC_USDT
Binance BTCUSDT
Lighter BTC
Lighter RH BTC
Popdex BTCUSDT
Aevo BTC-PERP
Katana Perps BTC-USD
Paradex BTC-USD-PERP
Hyperliquid BTC
Pacifica BTC
Bybit BTCUSDT
OKX BTC-USDT-SWAP
Ondo Perps BTC-USD.P
Gate BTC_USDT
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
Bulk BTC-USD
Jupiter Perps WBTC-PERP
Coinbase International BTC-PERP-INTX
Deribit BTC-PERPETUAL
Injective BTC/USDC PERP
Kraken Futures PF_XBTUSD
RISEx BTC/USDC
GMX BTC/USD [WBTC.b-USDC]
Aftermath Perps BTCUSD
Hibachi BTC/USDT-P
Kalshi KXBTCPERP
Perpl BTC