Funding you earn now, next payment 05:00 UTC+0.0096%/8h= +10.5% APRnext payment +$0.12 per $10,000 · paid last 24h +0.029%
Price spread now: Polymarket Perps against gTrade (Gains Network)−0.007%7-day average −0.005% · 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−$17as in the Price arb table
costs, in and out, $10k−$170.170% of the position
Funding, last 3 days (all we have)+0.094%+$9 on $10k
+Price spread, last 7 days−0.008%−$1 · spread now −0.007%, 7d avg −0.005%
=The price spread sits at its 7-day average of −0.005%, 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 | gTrade (Gains Network) BTC/USD | 85,635.9 | L +0.0004% / S −0.0004% | pay 0.0001% / 1h | 57m 12s | $36.6M | — | 200x |
| Short | Polymarket Perps BTC-USD | 85,630 | 0.0100 | get 0.0013% / 1h | 57m 12s | $11.1M | $14.3M | 50x |
gTrade (Gains Network) BTC/USD
Polymarket Perps BTC-USDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Polymarket Perps 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 itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- $20.06
- Price spread: −0.007% → −0.005%
- −$0.18
- Slippage, 4 orders
- −$1.98
- Fee gTrade (Gains Network): 3.5 bp × 2 orders
- −$7
- Fee Polymarket Perps: 4 bp × 2 orders
- −$8
- Net
- $2.9
- Costs to cover
- 0.170%
- Break-even
- 6.0 days
Slippage from gTrade (Gains Network): virtual book (oracle venue), 2 min ago; Polymarket Perps: live order book, 2 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), 2 min ago | 0.51 bp | 4.0 bp −$4 | 4.1 bp −$41 | 4.5 bp −$446 | 6.4 bp −$3,181 |
| Sell Polymarket Perps live order book, 2 min ago | 0.06 bp | 4.9 bp −$5 | 6.1 bp −$61 | 8.4 bp −$838 | doesn't fit |
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 | 85,646 | +0.012% | $2.1M | $10.4M | 40x | as long as short |
| Hotstuff BTC-PERP | −0.0080% | 1h | 85,649 | +0.015% | $8K | $3K | 50x | as long as short |
| KuCoin XBTUSDTM | −0.0036% | 8h | 85,614.3 | −0.025% | $923.2M | $754.0M | 125x | as long as short |
| BloFin BTC-USDT | −0.0020% | 8h | 85,624.5 | −0.013% | $417.3M | $675.4M | 150x | as long as short |
| 01 Exchange BTCUSD | −0.0016% | 1h | 85,635.4 | −0.001% | $367K | $2.3M | 50x | as long as short |
| dYdX BTC-USD | 0.0000% | 1h | 85,635.6 | 0.000% | $16.8M | $21.3M | 50x | as long as short |
| gTrade (Gains Network) BTC/USDlong | L +0.0004% / S −0.0004% | 1h | 85,635.9 | long leg | $36.6M | — | 200x | |
| Aster BTCUSDT | +0.0014% | 8h | 85,615.2 | −0.024% | $516.1M | $1.10B | 200x | as long as short |
| Nado BTC-PERP | +0.0022% | 1h | 85,634.6 | −0.002% | $25.0M | $222.4M | 50x | as long as short |
| Injective BTC/USDC PERP | +0.0044% | 1h | 85,690 | +0.063% | $340K | $26.9M | 52x | as long as short |
Phoenix BTC
Hotstuff BTC-PERP
KuCoin XBTUSDTM
BloFin BTC-USDT
01 Exchange BTCUSD
dYdX BTC-USD
Aster BTCUSDT
Nado BTC-PERP
Injective BTC/USDC PERPShow all 56 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| BingX BTC-USDT | +0.0063% | 8h | 85,626.8 | −0.011% | — | $1.54B | — | as long as short |
| Phemex BTCUSDT | +0.0064% | 8h | 85,616.4 | −0.023% | $148.6M | $489.3M | 150x | as long as short |
| Deribit BTC-PERPETUAL | +0.0072% | 1h | 85,665.3 | +0.034% | $886.4M | $1.58B | 50x | as long as short |
| Bitget BTCUSDT | +0.0080% | 8h | 85,626 | −0.012% | $2.96B | $5.10B | 150x | as long as short |
| Reya BTCRUSDPERP | +0.0089% | 1h | 85,625.8 | −0.012% | $6.6M | $146.9M | 40x | as long as short |
| Lighter BTC | +0.0096% | 1h | 85,635.7 | 0.000% | $172.3M | $1.01B | 50x | as long as short |
| Lighter RH BTC | +0.0096% | 1h | 85,641.3 | +0.006% | $23.9M | $147.7M | 50x | as long as short |
| Popdex BTCUSDT | +0.0096% | 1h | 85,625 | −0.013% | $8.7M | $54.0M | 100x | as long as short |
| Aevo BTC-PERP | +0.0096% | 1h | 85,622.7 | −0.015% | $2.5M | $1.7M | 20x | as long as short |
| Katana Perps BTC-USD | +0.0100% | 8h | 85,601 | −0.041% | $202K | $8.2M | 50x | as long as short |
| Paradex BTC-USD-PERP | +0.0100% | 8h | 85,698.8 | +0.073% | $5.2M | $9.1M | 50x | as long as short |
| Pacifica BTC | +0.0100% | 1h | 85,666.1 | +0.035% | $40.5M | $582.0M | 50x | as long as short |
| Binance BTCUSDT | +0.0100% | 8h | 85,625.3 | −0.012% | $9.38B | $24.26B | 150x | as long as short |
| Bybit BTCUSDT | +0.0100% | 8h | 85,620.7 | −0.018% | $5.19B | $9.82B | 150x | as long as short |
| OKX BTC-USDT-SWAP | +0.0100% | 8h | 85,635.8 | 0.000% | $2.59B | $12.17B | 100x | as long as short |
| Ondo Perps BTC-USD.P | +0.0100% | 1h | 85,617 | −0.022% | $3.8M | $17.8M | 25x | as long as short |
| Arcus BTC-USD | +0.0100% | 1h | 85,617.4 | −0.022% | $4.4M | $98.4M | 40x | as long as short |
| Bulk BTC-USD | +0.0100% | 1h | 85,487.5 | −0.173% | $672.1M | $698.9M | 40x | as long as short |
| Gate BTC_USDT | +0.0100% | 8h | 85,626.6 | −0.011% | $5.52B | $10.71B | 200x | as long as short |
| MEXC BTC_USDT | +0.0100% | 8h | 85,625.5 | −0.012% | $5.06B | $5.62B | 500x | as long as short |
| Backpack BTC_USDC_PERP | +0.0100% | 1h | 85,615.2 | −0.024% | $35.7M | $176.9M | 75x | as long as short |
| Variational Omni BTC | +0.0100% | 8h | 85,565.9 | −0.082% | $153.8M | $564.4M | — | as long as short |
| edgeX BTCUSDC | +0.0100% | 4h | 85,637 | +0.001% | $279.8M | $921.8M | 100x | as long as short |
| GRVT BTC_USDT_Perp | +0.0100% | 8h | 85,666.6 | +0.036% | $215.0M | $167.9M | 50x | as long as short |
| ApeX Omni BTCUSDT | +0.0100% | 1h | 85,668.6 | +0.038% | $140.1M | $315.0M | 100x | as long as short |
| StandX BTC-USD | +0.0100% | 1h | 85,629.2 | −0.008% | $30.2M | $208.7M | 40x | as long as short |
| Vest BTC-PERP | +0.0100% | 1h | 85,682.2 | +0.054% | — | $11.8M | 50x | as long as short |
| Polymarket Perps BTC-USDshort | +0.0100% | 1h | 85,630 | −0.007% | $11.1M | $14.3M | 50x | |
| Bullet BTC-USD | +0.0100% | 1h | 85,630.2 | −0.007% | $195K | $3.3M | 20x | as long as short |
| Orderly PERP_BTC_USDC | +0.0100% | 8h | 85,625.5 | −0.012% | $2.4M | $8.8M | 100x | as long as short |
| Bluefin BTC-PERP | +0.0100% | 1h | 85,668.8 | +0.038% | $207K | $739K | 40x | as long as short |
| Derive BTC-PERP | +0.0100% | 1h | 85,619.7 | −0.019% | $30.0M | $50.0M | 15x | as long as short |
| SunX BTC-USDT | +0.0100% | 8h | 85,613.4 | −0.026% | $2.9M | $6.1M | 100x | as long as short |
| SoDEX BTC-USD | +0.0100% | 1h | 85,625 | −0.013% | $60.0M | $336.1M | 40x | as long as short |
| HTX BTC-USDT | +0.0100% | 8h | 85,621.9 | −0.016% | $2.27B | $946.4M | 200x | as long as short |
| Extended BTC-USD | +0.0104% | 1h | 85,600.4 | −0.042% | $44.8M | $231.2M | 50x | as long as short |
| Jupiter Perps WBTC-PERP | L +0.0104% / S +0.0048% | 1h | 85,635.5 | 0.000% | — | $107.7M | 500x | as long as short |
| Coinbase International BTC-PERP-INTX | +0.0104% | 1h | 85,661.6 | +0.030% | $117.3M | $5.21B | 50x | as long as short |
| Hyperliquid BTC | +0.0114% | 1h | 85,716 | +0.094% | $3.79B | $5.01B | 40x | as long as short |
| Kraken Futures PF_XBTUSD | +0.0135% | 1h | 85,646.3 | +0.012% | $187.7M | $955.7M | 100x | as long as short |
| RISEx BTC/USDC | +0.0174% | 1h | 85,652.5 | +0.019% | $8.9M | $42.9M | 25x | as long as short |
| GMX BTC/USD [WBTC.b-USDC] | L +0.0202% / S −0.0178% | 1h | 85,636.9 | +0.001% | $13.2M | — | 200x | as long as short |
| Aftermath Perps BTCUSD | +0.0217% | 1h | 85,629.5 | −0.007% | $78K | $220K | 20x | as long as short |
| Kalshi KXBTCPERP | +0.0239% | 8h | 85,658 | +0.026% | $12.0M | $757.3M | 6.4x | as long as short |
| Hibachi BTC/USDT-P | +0.0256% | 1h | 85,699.5 | +0.074% | $703K | $7.9M | 30x | as long as short |
| Perpl BTC | +0.0335% | 43m | 85,638.7 | +0.003% | $502K | $18.8M | 6.7x | as long as short |
BingX BTC-USDT
Phemex BTCUSDT
Deribit BTC-PERPETUAL
Bitget BTCUSDT
Reya BTCRUSDPERP
Lighter BTC
Lighter RH BTC
Popdex BTCUSDT
Aevo BTC-PERP
Katana Perps BTC-USD
Paradex BTC-USD-PERP
Pacifica BTC
Binance BTCUSDT
Bybit BTCUSDT
OKX BTC-USDT-SWAP
Ondo Perps BTC-USD.P
Arcus BTC-USD
Bulk BTC-USD
Gate BTC_USDT
MEXC BTC_USDT
Backpack BTC_USDC_PERP
Variational Omni BTC
edgeX BTCUSDC
GRVT BTC_USDT_Perp
ApeX Omni BTCUSDT
StandX BTC-USD
Vest BTC-PERP
Bullet BTC-USD
Orderly PERP_BTC_USDC
Bluefin BTC-PERP
Derive BTC-PERP
SunX BTC-USDT
SoDEX BTC-USD
HTX BTC-USDT
Extended BTC-USD
Jupiter Perps WBTC-PERP
Coinbase International BTC-PERP-INTX
Hyperliquid BTC
Kraken Futures PF_XBTUSD
RISEx BTC/USDC
GMX BTC/USD [WBTC.b-USDC]
Aftermath Perps BTCUSD
Kalshi KXBTCPERP
Hibachi BTC/USDT-P
Perpl BTC