BTC

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0004%/8h= −0.5% APRnext payment −$0.01 per $10,000 · paid last 24h −0.009%

Price spread now: 01 Exchange against gTrade (Gains Network)+0.076%48s7-day average +0.002% · 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−$170.168% of the position

Long on gTrade (Gains Network)Short on 01 Exchange

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.003%$0 on $10k

Price spread, last 7 days−0.079%−$8 · spread now +0.076%, 7d avg +0.002%

Together, before fees−0.082%−$8 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: 01 Exchange is 0.074% dearer against gTrade (Gains Network) than usual: you sell high and buy low, +$7 on $10k if it goes back to its 7-day average of +0.002%. The two prices were read 48 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	85,246.4	L +0.0004% / S −0.0004%	pay 0.0001% / 1h	33m 29s	$36.5M	—	200x
Short	01 Exchange BTCUSD	85,311.6	0	get 0.0000% / 1h	33m 29s	$352K	$2.4M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

01 Exchange 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 01 ExchangebpOrdersPrice spread, now +0.076%Rate

Funding earned: −$0.94
Price spread: +0.076% → +0.002%: $7.43
Slippage, 4 orders: −$2.84
Fee gTrade (Gains Network): 3.5 bp × 2 orders: −$7
Fee 01 Exchange: 3.5 bp × 2 orders: −$7
Net: −$10.35
Costs to cover: 0.168%
Break-even: never at this rate

Slippage from gTrade (Gains Network): virtual book (oracle venue), 1 min ago; 01 Exchange: 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	4.0 bp −$40	4.5 bp −$446	6.4 bp −$3,179
Sell 01 Exchange live order book, 1 min ago	0.01 bp	3.6 bp −$4	8.0 bp −$80	doesn't fit	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	−0.0082%	1h	85,242	−0.005%	$2.1M	$10.4M	40x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	85,248	+0.002%	$8K	$3K	50x	as long as short
KuCoin XBTUSDTM	−0.0045%	8h	85,278.1	+0.037%	$928.0M	$773.4M	125x	as long as short
BloFin BTC-USDT	−0.0028%	8h	85,224.2	−0.026%	$421.0M	$681.5M	150x	as long as short
Aster BTCUSDT	−0.0012%	8h	85,290.5	+0.052%	$512.5M	$1.09B	200x	as long as short
01 Exchange BTCUSDshort	0.0000%	1h	85,311.6	+0.076%	$352K	$2.4M	50x
Perpl BTC	0.0000%	43m	85,254.6	+0.010%	$495K	$18.5M	6.7x	as long as short
dYdX BTC-USD	+0.0001%	1h	85,279.9	+0.039%	$16.7M	$21.4M	50x	as long as short
gTrade (Gains Network) BTC/USDlong	L +0.0004% / S −0.0004%	1h	85,246.4	long leg	$36.5M	—	200x
Nado BTC-PERP	+0.0042%	1h	85,238.4	−0.009%	$24.4M	$222.3M	50x	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	+0.0055%	1h	85,263.5	+0.020%	$139.4M	$314.4M	100x	as long as short
Injective BTC/USDC PERP	+0.0057%	1h	85,247	+0.001%	$338K	$26.8M	52x	as long as short
BingX BTC-USDT	+0.0070%	8h	85,294.9	+0.057%	—	$1.56B	—	as long as short
Bitget BTCUSDT	+0.0088%	8h	85,300	+0.063%	$2.96B	$5.18B	150x	as long as short
Aevo BTC-PERP	+0.0088%	1h	85,226.8	−0.023%	$2.4M	$6.7M	20x	as long as short
Kraken Futures PF_XBTUSD	+0.0089%	1h	85,245.7	−0.001%	$186.0M	$957.6M	100x	as long as short
MEXC BTC_USDT	+0.0091%	8h	85,289.1	+0.050%	$5.01B	$5.75B	500x	as long as short
Binance BTCUSDT	+0.0091%	8h	85,303.4	+0.067%	$9.42B	$24.95B	150x	as long as short
Lighter BTC	+0.0096%	1h	85,289.7	+0.051%	$169.9M	$1.02B	50x	as long as short
Lighter RH BTC	+0.0096%	1h	85,292.2	+0.054%	$23.5M	$148.0M	50x	as long as short
Popdex BTCUSDT	+0.0096%	1h	85,311	+0.076%	$8.4M	$56.3M	100x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	85,266	+0.023%	$237K	$8.7M	50x	as long as short
Paradex BTC-USD-PERP	+0.0100%	8h	85,349.7	+0.121%	$5.8M	$9.6M	50x	as long as short
Hyperliquid BTC	+0.0100%	1h	85,379	+0.156%	$3.74B	$5.08B	40x	as long as short
Pacifica BTC	+0.0100%	1h	85,304.4	+0.068%	$40.2M	$604.4M	50x	as long as short
Bybit BTCUSDT	+0.0100%	8h	85,301	+0.064%	$5.14B	$9.99B	150x	as long as short
OKX BTC-USDT-SWAP	+0.0100%	8h	85,304.4	+0.068%	$2.59B	$12.25B	100x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	85,284	+0.044%	$3.8M	$17.1M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	85,288.8	+0.050%	$5.2M	$99.0M	40x	as long as short
Bulk BTC-USD	+0.0100%	1h	85,278.8	+0.038%	$682.9M	$449.0M	40x	as long as short
Gate BTC_USDT	+0.0100%	8h	85,300	+0.063%	$5.50B	$11.00B	200x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	85,242.2	−0.005%	$36.9M	$179.1M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	85,207.8	−0.045%	$154.6M	$557.8M	—	as long as short
edgeX BTCUSDC	+0.0100%	4h	85,237.8	−0.010%	$279.3M	$950.0M	100x	as long as short
GRVT BTC_USDT_Perp	+0.0100%	8h	85,263.3	+0.020%	$214.1M	$166.1M	50x	as long as short
StandX BTC-USD	+0.0100%	1h	85,224.6	−0.026%	$30.0M	$203.7M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	85,346.7	+0.118%	—	$10.9M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	85,302	+0.065%	$11.0M	$14.6M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	85,302	+0.065%	$203K	$3.3M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	85,236.2	−0.012%	$2.6M	$9.8M	100x	as long as short
Bluefin BTC-PERP	+0.0100%	1h	85,270.2	+0.028%	$193K	$795K	40x	as long as short
Derive BTC-PERP	+0.0100%	1h	85,214.5	−0.037%	$29.9M	$47.0M	15x	as long as short
SunX BTC-USDT	+0.0100%	8h	85,217.6	−0.034%	$2.9M	$6.1M	100x	as long as short
SoDEX BTC-USD	+0.0100%	1h	85,231	−0.018%	$59.6M	$336.9M	40x	as long as short
HTX BTC-USDT	+0.0100%	8h	85,230.2	−0.019%	$2.25B	$968.5M	200x	as long as short
Phemex BTCUSDT	+0.0100%	8h	85,245.9	−0.001%	$151.1M	$509.3M	150x	as long as short
Extended BTC-USD	+0.0104%	1h	85,268.5	+0.026%	$44.8M	$240.7M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0048%	1h	85,245.5	−0.001%	—	$107.0M	500x	as long as short
Coinbase International BTC-PERP-INTX	+0.0104%	1h	85,275.4	+0.034%	$116.8M	$5.45B	50x	as long as short
Deribit BTC-PERPETUAL	+0.0107%	1h	85,276.1	+0.035%	$862.3M	$1.64B	50x	as long as short
Reya BTCRUSDPERP	+0.0128%	1h	85,293.3	+0.055%	$6.6M	$147.6M	40x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0175% / S −0.0152%	1h	85,243.6	−0.003%	$13.0M	—	200x	as long as short
Kalshi KXBTCPERP	+0.0185%	8h	85,267	+0.024%	$11.7M	$741.3M	6.4x	as long as short
RISEx BTC/USDC	+0.0193%	1h	85,316.3	+0.082%	$8.7M	$42.9M	25x	as long as short
Hibachi BTC/USDT-P	+0.0240%	1h	85,271.9	+0.030%	$684K	$7.9M	30x	as long as short
Aftermath Perps BTCUSD	+0.0268%	1h	85,279.2	+0.039%	$79K	$229K	20x	as long as short