BTC

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0096%/8h= +10.5% APRnext payment +$0.12 per $10,000 · paid last 24h +0.016%

Price spread now: SoDEX against gTrade (Gains Network)+0.010%54s7-day average −0.017% · you sell dearer than you buy

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

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$160.162% of the position

Long on gTrade (Gains Network)Short on SoDEX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.067%+$7 on $10k

Price spread, last 4 days (all we have)−0.057%−$6 · spread now +0.010%, 7d avg −0.017%

Together, before fees+0.010%+$1 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and SoDEX is 0.028% dearer against gTrade (Gains Network) than usual: you sell high and buy low: +$3 more if the spread goes back to its 7-day average of −0.017%. The two prices were read 54 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	gTrade (Gains Network) BTC/USD	85,392.1	L +0.0004% / S −0.0004%	pay 0.0001% / 1h	57m 18s	$36.5M	—	200x
Short	SoDEX BTC-USD	85,401	0.0100	get 0.0013% / 1h	57m 18s	$59.8M	$336.7M	40x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SoDEX 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 SoDEXbpOrdersPrice spread, now +0.010%Rate

Funding earned: $20.06
Price spread: +0.010% → −0.017%: $2.77
Slippage, 4 orders: −$1.15
Fee gTrade (Gains Network): 3.5 bp × 2 orders: −$7
Fee SoDEX: 4 bp × 2 orders: −$8
Net: $6.68
Costs to cover: 0.162%
Break-even: 4.7 days

Slippage from gTrade (Gains Network): virtual book (oracle venue), 2 min ago; SoDEX: 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 −$3,180
Sell SoDEX live order book, 2 min ago	0.06 bp	4.1 bp −$4	4.1 bp −$41	5.1 bp −$510	45.0 bp −$22.5K

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	−0.0111%	1h	85,444	+0.061%	$2.1M	$10.4M	40x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	85,437	+0.053%	$8K	$3K	50x	as long as short
KuCoin XBTUSDTM	−0.0049%	8h	85,369.8	−0.026%	$927.4M	$771.7M	125x	as long as short
BloFin BTC-USDT	−0.0023%	8h	85,375.6	−0.019%	$419.9M	$683.5M	150x	as long as short
Aster BTCUSDT	−0.0008%	8h	85,379.8	−0.014%	$513.4M	$1.09B	200x	as long as short
dYdX BTC-USD	0.0000%	1h	85,435.2	+0.050%	$16.7M	$21.5M	50x	as long as short
01 Exchange BTCUSD	0.0000%	1h	85,398.1	+0.007%	$353K	$2.4M	50x	as long as short
Perpl BTC	0.0000%	43m	85,396.3	+0.005%	$527K	$18.3M	6.7x	as long as short
Deribit BTC-PERPETUAL	+0.0004%	1h	85,431.6	+0.046%	$868.4M	$1.62B	50x	as long as short
gTrade (Gains Network) BTC/USDlong	L +0.0004% / S −0.0004%	1h	85,392.1	long leg	$36.5M	—	200x

Show all 56 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado BTC-PERP	+0.0045%	1h	85,428.1	+0.042%	$24.5M	$222.7M	50x	as long as short
Injective BTC/USDC PERP	+0.0057%	1h	85,405	+0.015%	$339K	$26.8M	52x	as long as short
BingX BTC-USDT	+0.0070%	8h	85,386.6	−0.006%	—	$1.56B	—	as long as short
Bitget BTCUSDT	+0.0087%	8h	85,375.3	−0.020%	$2.95B	$5.18B	150x	as long as short
Phemex BTCUSDT	+0.0088%	8h	85,412	+0.023%	$149.2M	$507.7M	150x	as long as short
Kraken Futures PF_XBTUSD	+0.0089%	1h	85,406.3	+0.017%	$188.0M	$955.3M	100x	as long as short
Lighter BTC	+0.0096%	1h	85,422.1	+0.035%	$170.8M	$1.01B	50x	as long as short
Lighter RH BTC	+0.0096%	1h	85,416.7	+0.029%	$23.6M	$147.1M	50x	as long as short
Popdex BTCUSDT	+0.0096%	1h	85,382	−0.012%	$8.3M	$55.9M	100x	as long as short
MEXC BTC_USDT	+0.0096%	8h	85,387.8	−0.005%	$5.02B	$5.72B	500x	as long as short
Aevo BTC-PERP	+0.0096%	1h	85,373.5	−0.022%	$2.4M	$6.7M	20x	as long as short
Binance BTCUSDT	+0.0097%	8h	85,387.3	−0.006%	$9.44B	$24.98B	150x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	85,350	−0.049%	$238K	$8.6M	50x	as long as short
Paradex BTC-USD-PERP	+0.0100%	8h	85,467.1	+0.088%	$5.8M	$9.6M	50x	as long as short
Hyperliquid BTC	+0.0100%	1h	85,470	+0.091%	$3.75B	$5.09B	40x	as long as short
Pacifica BTC	+0.0100%	1h	85,432.6	+0.047%	$40.1M	$602.1M	50x	as long as short
Bybit BTCUSDT	+0.0100%	8h	85,377.5	−0.017%	$5.14B	$9.99B	150x	as long as short
OKX BTC-USDT-SWAP	+0.0100%	8h	85,380	−0.014%	$2.59B	$12.24B	100x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	85,395	+0.003%	$3.8M	$17.3M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	85,384.5	−0.009%	$4.6M	$98.8M	40x	as long as short
Gate BTC_USDT	+0.0100%	8h	85,389.5	−0.003%	$5.51B	$10.94B	200x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	85,397.6	+0.006%	$36.9M	$180.2M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	85,449.7	+0.068%	$155.0M	$560.8M	—	as long as short
edgeX BTCUSDC	+0.0100%	4h	85,371.2	−0.025%	$279.6M	$950.1M	100x	as long as short
GRVT BTC_USDT_Perp	+0.0100%	8h	85,473.2	+0.095%	$214.6M	$167.4M	50x	as long as short
ApeX Omni BTCUSDT	+0.0100%	1h	85,469.9	+0.091%	$139.7M	$314.3M	100x	as long as short
StandX BTC-USD	+0.0100%	1h	85,420.3	+0.033%	$30.1M	$206.7M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	85,458.6	+0.078%	—	$10.9M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	85,388	−0.005%	$11.0M	$14.6M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	85,390.4	−0.002%	$204K	$3.3M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	85,386	−0.007%	$2.6M	$9.9M	100x	as long as short
Bluefin BTC-PERP	+0.0100%	1h	85,418	+0.030%	$194K	$795K	40x	as long as short
Derive BTC-PERP	+0.0100%	1h	85,387.6	−0.005%	$30.0M	$47.9M	15x	as long as short
SunX BTC-USDT	+0.0100%	8h	85,359.3	−0.038%	$2.9M	$6.1M	100x	as long as short
SoDEX BTC-USDshort	+0.0100%	1h	85,401	+0.010%	$59.8M	$336.7M	40x
HTX BTC-USDT	+0.0100%	8h	85,408.6	+0.019%	$2.26B	$959.0M	200x	as long as short
Bulk BTC-USD	+0.0100%	1h	85,476.9	+0.099%	$684.3M	$499.2M	40x	as long as short
Extended BTC-USD	+0.0104%	1h	85,345.4	−0.055%	$44.5M	$240.6M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0048%	1h	85,418.4	+0.031%	—	$106.9M	500x	as long as short
Coinbase International BTC-PERP-INTX	+0.0104%	1h	85,452.4	+0.071%	$117.6M	$5.46B	50x	as long as short
Reya BTCRUSDPERP	+0.0122%	1h	85,384.1	−0.009%	$6.6M	$147.6M	40x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0175% / S −0.0152%	1h	85,392.7	+0.001%	$13.0M	—	200x	as long as short
RISEx BTC/USDC	+0.0193%	1h	85,399.7	+0.009%	$8.8M	$43.2M	25x	as long as short
Kalshi KXBTCPERP	+0.0206%	8h	85,449	+0.067%	$11.5M	$743.1M	6.4x	as long as short
Aftermath Perps BTCUSD	+0.0237%	1h	85,457.5	+0.077%	$79K	$229K	20x	as long as short
Hibachi BTC/USDT-P	+0.0240%	1h	85,422.4	+0.035%	$691K	$8.0M	30x	as long as short