BTC

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0096%/8h= +10.5% APRnext payment +$0.12 per $10,000 · paid last 24h +0.024%

Price spread now: Bulk against gTrade (Gains Network)−0.070%7-day average +0.006% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$23as in the Price arb table

costs, in and out, $10k−$150.151% of the position

Long on gTrade (Gains Network)Short on Bulk

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.095%+$9 on $10k

Price spread, last 7 days+0.066%+$7 · spread now −0.070%, 7d avg +0.006%

Together, before fees+0.161%+$16 on $10k · with fees, hour by hour

Funding pays, the price is against you. Bulk is 0.076% cheaper against gTrade (Gains Network) than usual: you would sell low and buy high (spread −0.070% now, against its 7-day average of +0.006%). If the spread goes back, that is −$8 on $10k: about 2.6 days of funding at the current rate (+$3 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	gTrade (Gains Network) BTC/USD	85,408.4	L +0.0004% / S −0.0004%	pay 0.0001% / 1h	43m 03s	$36.5M	—	200x
Short	Bulk BTC-USD	85,349	0.0100	get 0.0013% / 1h	43m 03s	$691.7M	$275.1M	40x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bulk against gTrade (Gains Network). Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee gTrade (Gains Network)bpFee BulkbpOrdersPrice spread, now −0.070%Rate

Funding earned: $20.06
Price spread: −0.070% → +0.006%: −$7.57
Slippage, 4 orders: −$1.1
Fee gTrade (Gains Network): 3.5 bp × 2 orders: −$7
Fee Bulk: 3.5 bp × 2 orders: −$7
Net: −$2.61
Costs to cover: 0.151%
Break-even: 7.9 days

Slippage from gTrade (Gains Network): virtual book (oracle venue), 1 min ago; Bulk: live order book, 1 min ago.

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 gTrade (Gains Network) virtual book (oracle venue), 1 min ago	0.51 bp	4.0 bp −$4	4.1 bp −$41	4.5 bp −$446	6.4 bp −$3,183
Sell Bulk live order book, 1 min ago	0.03 bp	3.5 bp −$4	3.5 bp −$35	3.5 bp −$353	3.8 bp −$1,892

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
Hotstuff BTC-PERP	−0.0080%	1h	85,414	+0.007%	$8K	$3K	50x	as long as short
Phoenix BTC	−0.0034%	1h	85,472	+0.074%	$2.3M	$10.8M	40x	as long as short
KuCoin XBTUSDTM	−0.0026%	8h	85,394.1	−0.017%	$931.4M	$775.2M	125x	as long as short
BloFin BTC-USDT	−0.0022%	8h	85,380.7	−0.032%	$420.7M	$682.4M	150x	as long as short
Aster BTCUSDT	−0.0005%	8h	85,367.3	−0.048%	$512.0M	$1.08B	200x	as long as short
01 Exchange BTCUSD	0.0000%	1h	85,410	+0.002%	$347K	$2.3M	50x	as long as short
Perpl BTC	0.0000%	43m	85,394	−0.017%	$483K	$18.3M	6.7x	as long as short
gTrade (Gains Network) BTC/USDlong	L +0.0004% / S −0.0004%	1h	85,408.4	long leg	$36.5M	—	200x
dYdX BTC-USD	+0.0005%	1h	85,390.6	−0.021%	$16.7M	$21.0M	50x	as long as short
Kraken Futures PF_XBTUSD	+0.0026%	1h	85,396.1	−0.014%	$185.6M	$952.5M	100x	as long as short

Show all 56 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
ApeX Omni BTCUSDT	+0.0066%	1h	85,421.4	+0.015%	$139.6M	$312.8M	100x	as long as short
Injective BTC/USDC PERP	+0.0067%	1h	85,367	−0.048%	$338K	$24.6M	52x	as long as short
BingX BTC-USDC	+0.0068%	8h	85,362.9	−0.053%	—	$17.4M	—	as long as short
Nado BTC-PERP	+0.0079%	1h	85,387.5	−0.025%	$24.1M	$220.0M	50x	as long as short
Bybit BTCUSDT	+0.0084%	8h	85,368.3	−0.047%	$5.13B	$9.98B	150x	as long as short
Bitget BTCUSDT	+0.0092%	8h	85,382.5	−0.030%	$2.97B	$5.18B	150x	as long as short
Lighter BTC	+0.0096%	1h	85,399.9	−0.010%	$169.0M	$1.01B	50x	as long as short
Lighter RH BTC	+0.0096%	1h	85,399.7	−0.010%	$23.6M	$148.0M	50x	as long as short
Popdex BTCUSDT	+0.0096%	1h	85,409	+0.001%	$8.4M	$57.4M	100x	as long as short
Aevo BTC-PERP	+0.0096%	1h	85,392.3	−0.019%	$2.4M	$6.7M	20x	as long as short
MEXC BTC_USDT	+0.0097%	8h	85,389.2	−0.022%	$5.05B	$5.72B	500x	as long as short
Binance BTCUSDT	+0.0098%	8h	85,377.2	−0.036%	$9.41B	$25.01B	150x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	85,376	−0.038%	$271K	$8.7M	50x	as long as short
Paradex BTC-USD-PERP	+0.0100%	8h	85,435.7	+0.032%	$5.8M	$9.5M	50x	as long as short
Hyperliquid BTC	+0.0100%	1h	85,470	+0.072%	$3.75B	$5.07B	40x	as long as short
Pacifica BTC	+0.0100%	1h	85,419.7	+0.013%	$40.1M	$605.5M	50x	as long as short
OKX BTC-USDT-SWAP	+0.0100%	8h	85,372.9	−0.042%	$2.60B	$12.21B	100x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	85,388	−0.024%	$3.9M	$17.3M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	85,409.9	+0.002%	$4.7M	$96.7M	40x	as long as short
Bulk BTC-USDshort	+0.0100%	1h	85,349	−0.070%	$691.7M	$275.1M	40x
Gate BTC_USDT	+0.0100%	8h	85,389.6	−0.022%	$5.53B	$11.03B	200x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	85,379.7	−0.034%	$37.3M	$185.0M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	85,426.4	+0.021%	$156.0M	$554.8M	—	as long as short
edgeX BTCUSDC	+0.0100%	4h	85,436.8	+0.033%	$283.3M	$959.9M	100x	as long as short
GRVT BTC_USDT_Perp	+0.0100%	8h	85,426.5	+0.021%	$214.4M	$159.5M	50x	as long as short
StandX BTC-USD	+0.0100%	1h	85,414.3	+0.007%	$30.1M	$209.6M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	85,467.4	+0.069%	—	$10.1M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	85,405	−0.004%	$11.0M	$14.7M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	85,409.4	+0.001%	$197K	$3.3M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	85,398.8	−0.011%	$2.6M	$9.8M	100x	as long as short
Bluefin BTC-PERP	+0.0100%	1h	85,427.2	+0.022%	$194K	$795K	40x	as long as short
Derive BTC-PERP	+0.0100%	1h	85,375.9	−0.038%	$30.0M	$45.9M	15x	as long as short
SunX BTC-USDT	+0.0100%	8h	85,397.4	−0.013%	$2.9M	$6.1M	100x	as long as short
SoDEX BTC-USD	+0.0100%	1h	85,387	−0.025%	$59.8M	$336.5M	40x	as long as short
HTX BTC-USDT	+0.0100%	8h	85,395.7	−0.015%	$2.26B	$966.6M	200x	as long as short
Phemex BTCUSDT	+0.0100%	8h	85,408.6	0.000%	$158.9M	$514.1M	150x	as long as short
Extended BTC-USD	+0.0104%	1h	85,370.6	−0.044%	$45.5M	$241.1M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0056%	1h	85,407.4	−0.001%	—	$106.0M	500x	as long as short
Coinbase International BTC-PERP-INTX	+0.0104%	1h	85,421	+0.015%	$112.3M	$5.48B	50x	as long as short
Deribit BTC-PERPETUAL	+0.0117%	1h	85,427.4	+0.022%	$840.7M	$1.66B	50x	as long as short
Reya BTCRUSDPERP	+0.0138%	1h	85,395.8	−0.015%	$6.6M	$146.4M	40x	as long as short
Kalshi KXBTCPERP	+0.0173%	8h	85,416	+0.009%	$12.1M	$736.5M	6.4x	as long as short
RISEx BTC/USDC	+0.0174%	1h	85,425.2	+0.020%	$8.8M	$42.8M	25x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0175% / S −0.0147%	1h	85,411.7	+0.004%	$13.0M	—	200x	as long as short
Hibachi BTC/USDT-P	+0.0200%	1h	85,453.6	+0.053%	$684K	$7.7M	30x	as long as short
Aftermath Perps BTCUSD	+0.0290%	1h	85,453.3	+0.053%	$79K	$252K	20x	as long as short