BTC

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0096%/8h= +10.5% APRpaid last 24h +0.028%

Price spread now: Variational Omni against gTrade (Gains Network)−0.423%7-day average −0.003% · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on gTrade (Gains Network)Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.102%+$10 on $10k

Price spread, last 7 days+0.405%+$40 · spread now −0.423%, 7d avg −0.003%

Together, before fees+0.507%+ Points / potential airdropVariational Omni: Active · farm board+$51 on $10k · with fees, hour by hour

Funding pays, the price is against you. Variational Omni is 0.420% cheaper against gTrade (Gains Network) than usual: you would sell low and buy high (spread −0.423% now, against its 7-day average of −0.003%). If the spread goes back, that is −$42 on $10k: about 15 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	85,715	L +0.0004% / S −0.0004%	pay 0.0001% / 1h	22m 52s	$36.7M	—	200x
Short	Variational Omni BTC	85,352.3	0.0100	get 0.0100% / 8h	7h 22m	$155.8M	$535.0M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni 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 Variational OmnibpOrdersPrice spread, now −0.423%Rate

Funding earned: $20.06
Price spread: −0.423% → −0.003%: −$41.99
Slippage, 4 orders: no order book: not counted
Fee gTrade (Gains Network): 3.5 bp × 2 orders: −$7
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$28.93
Costs to cover: 0.070%
Break-even: 17.1 days

Slippage unknown: gTrade (Gains Network): virtual book (oracle venue), 6 min ago; Variational Omni: RFQ quote, 1 min ago. 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 gTrade (Gains Network) virtual book (oracle venue), 6 min ago	0.51 bp	4.0 bp −$4	4.1 bp −$41	4.5 bp −$447	6.4 bp −$3,185
Sell Variational Omni RFQ quote, 1 min ago	0.50 bp	doesn't fit	0.5 bp −$5	0.9 bp −$89	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
Bluefin BTC-PERP	−0.0830%	1h	85,756.1	+0.048%	$194K	$785K	40x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	85,640	−0.087%	$8K	$2K	50x	as long as short
BloFin BTC-USDT	−0.0020%	8h	85,706.9	−0.009%	$425.8M	$654.2M	150x	as long as short
Injective BTC/USDC PERP	−0.0006%	1h	85,652	−0.073%	$307K	$26.2M	52x	as long as short
01 Exchange BTCUSD	0.0000%	1h	85,654.9	−0.070%	$354K	$2.2M	50x	as long as short
gTrade (Gains Network) BTC/USDlong	L +0.0004% / S −0.0004%	1h	85,715	long leg	$36.7M	—	200x
KuCoin XBTUSDTM	+0.0021%	8h	85,699.8	−0.018%	$944.1M	$755.3M	125x	as long as short
Aster BTCUSDT	+0.0036%	8h	85,681.1	−0.040%	$504.1M	$1.06B	200x	as long as short
dYdX BTC-USD	+0.0053%	1h	85,491.8	−0.260%	$16.8M	$20.8M	50x	as long as short
Kraken Futures PF_XBTUSD	+0.0068%	1h	85,757.2	+0.049%	$186.4M	$915.3M	100x	as long as short

Show all 56 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phoenix BTC	+0.0075%	1h	85,520	−0.227%	$2.3M	$10.4M	40x	as long as short
BingX BTC-USDC	+0.0080%	8h	85,704.2	−0.013%	—	$17.3M	—	as long as short
Nado BTC-PERP	+0.0085%	1h	85,650.1	−0.076%	$24.3M	$213.8M	50x	as long as short
Lighter BTC	+0.0096%	1h	85,741.1	+0.030%	$172.0M	$950.6M	50x	as long as short
Lighter RH BTC	+0.0096%	1h	85,737.6	+0.026%	$23.5M	$135.2M	50x	as long as short
Popdex BTCUSDT	+0.0096%	1h	85,659	−0.065%	$8.7M	$56.4M	100x	as long as short
Aevo BTC-PERP	+0.0096%	1h	85,713.7	−0.002%	$2.4M	$6.7M	20x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	85,632	−0.097%	$263K	$8.6M	50x	as long as short
Paradex BTC-USD-PERP	+0.0100%	8h	85,705.3	−0.011%	$5.7M	$9.3M	50x	as long as short
Pacifica BTC	+0.0100%	1h	85,679.3	−0.042%	$40.3M	$602.4M	50x	as long as short
Binance BTCUSDT	+0.0100%	8h	85,701.8	−0.015%	$9.42B	$24.47B	150x	as long as short
Bybit BTCUSDT	+0.0100%	8h	85,728.1	+0.015%	$5.10B	$9.67B	150x	as long as short
OKX BTC-USDT-SWAP	+0.0100%	8h	85,749	+0.040%	$2.62B	$11.71B	100x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	85,672	−0.050%	$3.9M	$17.1M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	85,664	−0.059%	$5.0M	$96.5M	40x	as long as short
Bulk BTC-USD	+0.0100%	1h	85,303.3	−0.480%	$702.0M	$164.8M	40x	as long as short
Gate BTC_USDT	+0.0100%	8h	85,705.1	−0.012%	$5.51B	$9.97B	200x	as long as short
MEXC BTC_USDT	+0.0100%	8h	85,696.8	−0.021%	$5.06B	$5.78B	500x	as long as short
Bitget BTCUSDT	+0.0100%	8h	85,748.9	+0.040%	$2.99B	$4.95B	150x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	85,705.3	−0.011%	$37.7M	$192.1M	75x	as long as short
Variational Omni BTCshort	+0.0100%	8h	85,352.3	−0.423%	$155.8M	$535.0M	—
edgeX BTCUSDC	+0.0100%	4h	85,427	−0.336%	$285.6M	$964.7M	100x	as long as short
GRVT BTC_USDT_Perp	+0.0100%	8h	85,464	−0.293%	$214.5M	$157.0M	50x	as long as short
ApeX Omni BTCUSDT	+0.0100%	1h	85,415	−0.350%	$136.6M	$312.0M	100x	as long as short
StandX BTC-USD	+0.0100%	1h	85,531.9	−0.214%	$30.2M	$217.2M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	85,720.3	+0.006%	—	$9.8M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	85,686	−0.034%	$10.9M	$14.4M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	85,700	−0.017%	$210K	$3.3M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	85,710.5	−0.005%	$2.7M	$9.7M	100x	as long as short
Derive BTC-PERP	+0.0100%	1h	85,444.6	−0.315%	$28.8M	$52.4M	15x	as long as short
SunX BTC-USDT	+0.0100%	8h	85,735.7	+0.024%	$3.1M	$6.9M	100x	as long as short
SoDEX BTC-USD	+0.0100%	1h	85,731	+0.019%	$60.0M	$311.9M	40x	as long as short
HTX BTC-USDT	+0.0100%	8h	85,722.5	+0.009%	$2.27B	$954.8M	200x	as long as short
Phemex BTCUSDT	+0.0100%	8h	85,730.8	+0.018%	$165.2M	$510.2M	150x	as long as short
Extended BTC-USD	+0.0104%	1h	85,671.9	−0.050%	$45.7M	$237.1M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0056%	1h	85,669.2	−0.053%	—	$104.2M	500x	as long as short
Coinbase International BTC-PERP-INTX	+0.0112%	1h	85,772.9	+0.068%	$112.1M	$5.39B	50x	as long as short
Reya BTCRUSDPERP	+0.0151%	1h	85,671.2	−0.051%	$6.6M	$136.1M	40x	as long as short
Hyperliquid BTC	+0.0154%	1h	85,824	+0.127%	$3.86B	$4.73B	40x	as long as short
Kalshi KXBTCPERP	+0.0190%	8h	85,686	−0.034%	$10.8M	$735.9M	6.4x	as long as short
RISEx BTC/USDC	+0.0194%	1h	85,678.2	−0.043%	$8.9M	$41.8M	25x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0198% / S −0.0175%	1h	85,718.7	+0.004%	$12.9M	—	200x	as long as short
Deribit BTC-PERPETUAL	+0.0214%	1h	85,777.8	+0.073%	$833.0M	$1.64B	50x	as long as short
Hibachi BTC/USDT-P	+0.0344%	1h	85,586.9	−0.149%	$690K	$7.6M	30x	as long as short
Aftermath Perps BTCUSD	+0.0346%	1h	85,517.9	−0.230%	$81K	$259K	20x	as long as short
Perpl BTC	+0.0447%	43m	85,748.2	+0.039%	$453K	$17.2M	6.7x	as long as short