BTC

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0087%/8h= −9.5% APRnext payment −$0.11 per $10,000 · paid last 24h −0.018%

Price spread now: Ondo Perps against GMX+0.017%7-day average −0.038% · you sell dearer than you buy

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

Long on GMX Short on Ondo Perps

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.063%−$6 on $10k

Price spread, last 3 days (all we have)−0.035%−$3 · spread now +0.017%, 7d avg −0.038%

Together, before fees−0.098%+ Points / potential airdropOndo Perps: Active · farm board−$10 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Ondo Perps is 0.055% dearer against GMX than usual: you sell high and buy low (spread +0.017% now, against its 7-day average of −0.038%): +$6 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 2.1 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX BTC/USD [WBTC.b-USDC]	86,284.5	L +0.0187% / S −0.0209%	pay 0.0023% / 1h	9m 53s	$15.1M	—	200x
Short	Ondo Perps BTC-USD.P	86,299	0.0100	get 0.0013% / 1h	9m 53s	$3.9M	$18.6M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Ondo Perps against GMX. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 GMXbpFee Ondo PerpsbpOrdersPrice spread, now +0.017%Rate

Funding earned: −$18.17
Price spread: +0.017% → −0.038%: $5.51
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Net: −$29.65
Costs to cover: 0.170%
Break-even: never at this rate

Slippage unknown: GMX: no order-book sample; Ondo Perps: no order-book sample. 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 GMX no order-book sample	—	—	—	—	—
Sell Ondo Perps no order-book sample	—	—	—	—	—

GMX and Ondo Perps: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	−0.0609%	1h	86,288.3	+0.004%	$140K	$620K	40x	as long as short
Phoenix BTC	−0.0159%	1h	86,356	+0.083%	$2.2M	$11.8M	40x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	86,314	+0.034%	$9K	$3K	50x	as long as short
01 Exchange BTCUSD	−0.0016%	1h	86,304.3	+0.023%	$359K	$2.5M	50x	as long as short
Aster BTCUSDT	−0.0012%	8h	86,290.1	+0.006%	$502.8M	$1.15B	200x	as long as short
KuCoin XBTUSDTM	+0.0004%	8h	86,295.5	+0.013%	$850.3M	$712.1M	125x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0005% / S −0.0004%	1h	86,290.8	+0.007%	$36.7M	—	200x	as long as short
dYdX BTC-USD	+0.0005%	1h	86,353.5	+0.080%	$16.9M	$21.1M	50x	as long as short
RISEx BTC/USDC	+0.0006%	1h	86,302.3	+0.021%	$8.4M	$42.8M	25x	as long as short
Reya BTCRUSDPERP	+0.0023%	1h	86,257.5	−0.031%	$6.7M	$145.0M	40x	as long as short

Show all 56 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Injective BTC/USDC PERP	+0.0024%	1h	86,360	+0.087%	$332K	$26.8M	52x	as long as short
BingX BTC-USDT	+0.0037%	8h	86,300.2	+0.018%	—	$1.59B	—	as long as short
Phemex BTCUSDT	+0.0043%	8h	86,295	+0.012%	$150.0M	$476.8M	150x	as long as short
Bitget BTCUSDT	+0.0046%	8h	86,297.4	+0.015%	$2.94B	$5.11B	150x	as long as short
Aftermath Perps BTCUSD	+0.0048%	1h	86,397.1	+0.130%	$80K	$219K	20x	as long as short
Deribit BTC-PERPETUAL	+0.0056%	1h	86,314.5	+0.035%	$917.7M	$1.49B	50x	as long as short
MEXC BTC_USDT	+0.0063%	8h	86,299.2	+0.017%	$5.13B	$5.71B	500x	as long as short
Binance BTCUSDT	+0.0064%	8h	86,295.1	+0.012%	$9.41B	$24.46B	150x	as long as short
Aevo BTC-PERP	+0.0064%	1h	86,264.2	−0.024%	$2.4M	$1.3M	20x	as long as short
Gate BTC_USDT	+0.0079%	8h	86,296.7	+0.014%	$5.84B	$10.76B	200x	as long as short
Bybit BTCUSDT	+0.0094%	8h	86,300.9	+0.019%	$5.25B	$9.79B	150x	as long as short
Lighter BTC	+0.0096%	1h	86,298.9	+0.017%	$170.2M	$1.01B	50x	as long as short
Lighter RH BTC	+0.0096%	1h	86,310	+0.030%	$24.0M	$152.6M	50x	as long as short
Popdex BTCUSDT	+0.0096%	1h	86,298	+0.016%	$8.4M	$52.4M	100x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	86,281	−0.004%	$201K	$6.9M	50x	as long as short
Paradex BTC-USD-PERP	+0.0100%	8h	86,336.9	+0.061%	$4.8M	$8.5M	50x	as long as short
Nado BTC-PERP	+0.0100%	1h	86,321	+0.042%	$21.6M	$234.5M	50x	as long as short
Hyperliquid BTC	+0.0100%	1h	86,362.4	+0.090%	$3.79B	$5.10B	40x	as long as short
Pacifica BTC	+0.0100%	1h	86,338.3	+0.062%	$40.7M	$513.8M	50x	as long as short
OKX BTC-USDT-SWAP	+0.0100%	8h	86,308.8	+0.028%	$2.53B	$12.71B	100x	as long as short
Ondo Perps BTC-USD.Pshort	+0.0100%	1h	86,299	+0.017%	$3.9M	$18.6M	25x
Arcus BTC-USD	+0.0100%	1h	86,359.5	+0.087%	$7.8M	$94.8M	40x	as long as short
Bulk BTC-USD	+0.0100%	1h	86,320.9	+0.042%	$570.7M	$18.4M	40x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	86,284.8	0.000%	$37.8M	$154.8M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	86,316.3	+0.037%	$155.5M	$568.1M	—	as long as short
edgeX BTCUSDC	+0.0100%	4h	86,350.3	+0.076%	$279.1M	$943.8M	100x	as long as short
GRVT BTC_USDT_Perp	+0.0100%	8h	86,358.3	+0.086%	$217.0M	$174.8M	50x	as long as short
ApeX Omni BTCUSDT	+0.0100%	1h	86,353.6	+0.080%	$141.2M	$323.8M	100x	as long as short
StandX BTC-USD	+0.0100%	1h	86,332.2	+0.055%	$30.6M	$204.0M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	86,350.2	+0.076%	—	$11.7M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	86,285	+0.001%	$11.1M	$13.8M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	86,279	−0.006%	$191K	$3.4M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	86,280.9	−0.004%	$2.4M	$8.7M	100x	as long as short
Derive BTC-PERP	+0.0100%	1h	86,294.7	+0.012%	$30.6M	$62.2M	15x	as long as short
SunX BTC-USDT	+0.0100%	8h	86,300.4	+0.018%	$3.4M	$5.4M	100x	as long as short
SoDEX BTC-USD	+0.0100%	1h	86,277	−0.009%	$60.3M	$337.3M	40x	as long as short
HTX BTC-USDT	+0.0100%	8h	86,268.1	−0.019%	$2.29B	$968.7M	200x	as long as short
Extended BTC-USD	+0.0104%	1h	86,282.3	−0.003%	$45.6M	$226.3M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0048%	1h	86,315.3	+0.036%	—	$98.9M	500x	as long as short
Perpl BTC	+0.0112%	43m	86,328.8	+0.051%	$420K	$23.6M	6.7x	as long as short
Coinbase International BTC-PERP-INTX	+0.0112%	1h	86,322	+0.043%	$131.1M	$5.68B	50x	as long as short
Hibachi BTC/USDT-P	+0.0120%	1h	86,390.4	+0.123%	$719K	$8.1M	30x	as long as short
Kraken Futures PF_XBTUSD	+0.0121%	1h	86,314.2	+0.034%	$191.0M	$945.5M	100x	as long as short
BloFin BTC-USDT	+0.0184%	8h	86,337.9	+0.062%	$414.2M	$653.4M	150x	as long as short
GMX BTC/USD [WBTC.b-USDC]long	L +0.0187% / S −0.0209%	1h	86,284.5	long leg	$15.1M	—	200x
Kalshi KXBTCPERP	+0.0198%	8h	86,321	+0.042%	$9.8M	$735.1M	6.4x	as long as short