BTC

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0092%/8h= +10.0% APRnext payment +$0.11 per $10,000 · paid last 24h +0.025%

Price spread now: Popdex against gTrade (Gains Network)−0.021%7-day average +0.009% · 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−$18as in the Price arb table

costs, in and out, $10k−$150.148% of the position

Long on gTrade (Gains Network)Short on Popdex

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.089%+$9 on $10k

Price spread, last 7 days+0.007%+$1 · spread now −0.021%, 7d avg +0.009%

Together, before fees+0.095%+$10 on $10k · with fees, hour by hour

Funding pays, the price is against you. Popdex is 0.030% cheaper against gTrade (Gains Network) than usual: you would sell low and buy high (spread −0.021% now, against its 7-day average of +0.009%). If the spread goes back, that is −$3 on $10k: about 26 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	gTrade (Gains Network) BTC/USD	85,377	L +0.0004% / S −0.0004%	pay 0.0001% / 1h	54m 14s	$36.5M	—	200x
Short	Popdex BTCUSDT	85,359	0.0096	get 0.0012% / 1h	54m 14s	$8.4M	$55.3M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Popdex 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 PopdexbpOrdersPrice spread, now −0.021%Rate

Funding earned: $19.22
Price spread: −0.021% → +0.009%: −$3.02
Slippage, 4 orders: −$1.37
Fee gTrade (Gains Network): 3.5 bp × 2 orders: −$7
Fee Popdex: 3.2 bp × 2 orders: −$6.4
Net: $1.43
Costs to cover: 0.148%
Break-even: 6.5 days

Slippage from gTrade (Gains Network): virtual book (oracle venue), 5 min ago; Popdex: live order book, 5 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), 5 min ago	0.51 bp	4.0 bp −$4	4.1 bp −$41	4.5 bp −$447	6.4 bp −$3,185
Sell Popdex live order book, 5 min ago	0.06 bp	3.3 bp −$3	3.3 bp −$33	3.7 bp −$371	5.2 bp −$2,579

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	−0.0140%	1h	85,413	+0.042%	$2.1M	$10.4M	40x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	85,397	+0.023%	$8K	$3K	50x	as long as short
KuCoin XBTUSDTM	−0.0054%	8h	85,355.7	−0.025%	$920.5M	$760.5M	125x	as long as short
BloFin BTC-USDT	−0.0030%	8h	85,394	+0.020%	$422.0M	$676.4M	150x	as long as short
01 Exchange BTCUSD	−0.0024%	1h	85,364.4	−0.015%	$381K	$2.3M	50x	as long as short
Aster BTCUSDT	−0.0012%	8h	85,369.9	−0.008%	$513.9M	$1.10B	200x	as long as short
dYdX BTC-USD	0.0000%	1h	85,409.1	+0.038%	$16.8M	$21.2M	50x	as long as short
Perpl BTC	0.0000%	43m	85,404.3	+0.032%	$536K	$18.8M	6.7x	as long as short
gTrade (Gains Network) BTC/USDlong	L +0.0004% / S −0.0004%	1h	85,377	long leg	$36.5M	—	200x
Injective BTC/USDC PERP	+0.0023%	1h	85,449	+0.084%	$339K	$26.8M	52x	as long as short

Show all 56 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado BTC-PERP	+0.0031%	1h	85,365.1	−0.014%	$24.3M	$223.3M	50x	as long as short
Kraken Futures PF_XBTUSD	+0.0056%	1h	85,401.2	+0.028%	$187.4M	$955.6M	100x	as long as short
BingX BTC-USDC	+0.0063%	8h	85,358.2	−0.022%	—	$17.3M	—	as long as short
Bullet BTC-USD	+0.0065%	1h	85,356	−0.025%	$204K	$3.3M	20x	as long as short
Phemex BTCUSDT	+0.0074%	8h	85,377.9	+0.001%	$149.2M	$499.6M	150x	as long as short
SoDEX BTC-USD	+0.0077%	1h	85,375	−0.002%	$59.8M	$335.9M	40x	as long as short
Bitget BTCUSDT	+0.0080%	8h	85,371.2	−0.007%	$2.95B	$5.14B	150x	as long as short
Aevo BTC-PERP	+0.0088%	1h	85,354.5	−0.026%	$2.3M	$6.5M	20x	as long as short
MEXC BTC_USDT	+0.0089%	8h	85,370	−0.008%	$5.07B	$5.66B	500x	as long as short
Binance BTCUSDT	+0.0090%	8h	85,370.1	−0.008%	$9.44B	$24.67B	150x	as long as short
Lighter BTC	+0.0096%	1h	85,382.7	+0.007%	$171.8M	$1.01B	50x	as long as short
Lighter RH BTC	+0.0096%	1h	85,388.1	+0.013%	$23.8M	$147.2M	50x	as long as short
Popdex BTCUSDTshort	+0.0096%	1h	85,359	−0.021%	$8.4M	$55.3M	100x
Coinbase International BTC-PERP-INTX	+0.0096%	1h	85,415	+0.045%	$117.3M	$5.29B	50x	as long as short
Deribit BTC-PERPETUAL	+0.0098%	1h	85,417.6	+0.048%	$872.1M	$1.60B	50x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	85,331	−0.054%	$239K	$8.5M	50x	as long as short
Paradex BTC-USD-PERP	+0.0100%	8h	85,412.4	+0.041%	$5.6M	$9.4M	50x	as long as short
Hyperliquid BTC	+0.0100%	1h	85,447	+0.082%	$3.78B	$5.03B	40x	as long as short
Pacifica BTC	+0.0100%	1h	85,399.2	+0.026%	$40.1M	$593.1M	50x	as long as short
Bybit BTCUSDT	+0.0100%	8h	85,365.9	−0.013%	$5.17B	$9.88B	150x	as long as short
OKX BTC-USDT-SWAP	+0.0100%	8h	85,381.8	+0.006%	$2.59B	$12.13B	100x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	85,356	−0.025%	$3.8M	$17.6M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	85,367	−0.012%	$4.7M	$99.3M	40x	as long as short
Gate BTC_USDT	+0.0100%	8h	85,362.2	−0.017%	$5.54B	$10.77B	200x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	85,359.6	−0.020%	$36.5M	$175.8M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	85,385.5	+0.010%	$154.2M	$565.3M	—	as long as short
edgeX BTCUSDC	+0.0100%	4h	85,384	+0.008%	$279.2M	$936.4M	100x	as long as short
GRVT BTC_USDT_Perp	+0.0100%	8h	85,462	+0.100%	$214.7M	$168.9M	50x	as long as short
ApeX Omni BTCUSDT	+0.0100%	1h	85,445.3	+0.080%	$139.7M	$315.9M	100x	as long as short
StandX BTC-USD	+0.0100%	1h	85,389	+0.014%	$30.1M	$206.3M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	85,433.7	+0.066%	—	$10.9M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	85,366	−0.013%	$11.1M	$14.4M	50x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	85,358.9	−0.021%	$2.5M	$8.8M	100x	as long as short
Bluefin BTC-PERP	+0.0100%	1h	85,409.7	+0.038%	$207K	$738K	40x	as long as short
Derive BTC-PERP	+0.0100%	1h	85,344.3	−0.038%	$30.0M	$50.3M	15x	as long as short
SunX BTC-USDT	+0.0100%	8h	85,351.6	−0.030%	$2.9M	$6.1M	100x	as long as short
HTX BTC-USDT	+0.0100%	8h	85,354.5	−0.026%	$2.26B	$950.9M	200x	as long as short
Bulk BTC-USD	+0.0100%	1h	85,404.3	+0.032%	$678.7M	$662.5M	40x	as long as short
Extended BTC-USD	+0.0104%	1h	85,341	−0.042%	$45.8M	$236.0M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0048%	1h	85,384	+0.008%	—	$106.8M	500x	as long as short
Reya BTCRUSDPERP	+0.0108%	1h	85,352.9	−0.028%	$6.6M	$147.3M	40x	as long as short
Kalshi KXBTCPERP	+0.0167%	8h	85,397	+0.023%	$11.4M	$750.6M	6.4x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0176% / S −0.0151%	1h	85,374.5	−0.003%	$13.0M	—	200x	as long as short
Hibachi BTC/USDT-P	+0.0232%	1h	85,402.7	+0.030%	$694K	$7.9M	30x	as long as short
Aftermath Perps BTCUSD	+0.0250%	1h	85,423.4	+0.054%	$79K	$225K	20x	as long as short
RISEx BTC/USDC	+0.0257%	1h	85,390.1	+0.015%	$8.8M	$43.1M	25x	as long as short