BTC

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0017%/8h= +1.9% APRnext payment +$0.02 per $10,000 · paid last 24h −0.029%

Price spread now: RISEx against GMX+0.101%7-day average −0.020% · you sell dearer than you buy

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

Long on GMX Short on RISEx

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.070%−$7 on $10k

Price spread, last 4 days (all we have)−0.101%−$10 · spread now +0.101%, 7d avg −0.020%

Together, before fees−0.171%−$17 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and RISEx is 0.121% dearer against GMX than usual: you sell high and buy low: +$12 more if the spread goes back to its 7-day average of −0.020%. Mind the row above: over the last 3 days funding on this pair cost −0.070%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX BTC/USD [WBTC.b-USDC]	85,471.3	L +0.0176% / S −0.0150%	pay 0.0022% / 1h	42m 48s	$13.4M	—	200x
Short	RISEx BTC/USDC	85,557.3	0.0194	get 0.0024% / 1h	42m 48s	$8.3M	$42.4M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

RISEx against GMX. 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 GMXbpFee RISExbpOrdersPrice spread, now +0.101%Rate

Funding earned: $3.6
Price spread: +0.101% → −0.020%: $12.09
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee RISEx: 3 bp × 2 orders: −$6
Net: −$2.31
Costs to cover: 0.180%
Break-even: 11.5 days

Slippage unknown: GMX: no order-book sample; RISEx: live order book, 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 GMX no order-book sample	—	—	—	—	—
Sell RISEx live order book, 1 min ago	0.01 bp	5.4 bp −$5	5.5 bp −$55	12.6 bp −$1,258	doesn't fit

GMX: 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	−0.0590%	1h	85,453.7	−0.021%	$206K	$738K	40x	as long as short
Phoenix BTC	−0.0179%	1h	85,410	−0.072%	$2.2M	$10.3M	40x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	85,571	+0.117%	$8K	$3K	50x	as long as short
01 Exchange BTCUSD	−0.0048%	1h	85,519.5	+0.056%	$366K	$2.3M	50x	as long as short
BloFin BTC-USDT	−0.0031%	8h	85,441.9	−0.034%	$416.7M	$665.2M	150x	as long as short
KuCoin XBTUSDTM	−0.0005%	8h	85,389.5	−0.096%	$918.1M	$750.5M	125x	as long as short
dYdX BTC-USD	0.0000%	1h	85,433.8	−0.044%	$16.7M	$21.2M	50x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0005% / S −0.0004%	1h	85,470.1	−0.001%	$36.5M	—	200x	as long as short
Aster BTCUSDT	+0.0013%	8h	85,402.7	−0.080%	$514.7M	$1.10B	200x	as long as short
Arcus BTC-USD	+0.0021%	1h	85,523.6	+0.061%	$6.9M	$97.3M	40x	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	+0.0054%	1h	85,548	+0.090%	$22.6M	$219.3M	50x	as long as short
BingX BTC-USDT	+0.0060%	8h	85,412	−0.069%	—	$1.54B	—	as long as short
Bitget BTCUSDT	+0.0075%	8h	85,405.7	−0.077%	$2.96B	$5.03B	150x	as long as short
Reya BTCRUSDPERP	+0.0078%	1h	85,445.6	−0.030%	$6.7M	$146.6M	40x	as long as short
MEXC BTC_USDT	+0.0088%	8h	85,407.2	−0.075%	$5.04B	$5.59B	500x	as long as short
Aevo BTC-PERP	+0.0088%	1h	85,411.7	−0.070%	$2.4M	$1.7M	20x	as long as short
Binance BTCUSDT	+0.0090%	8h	85,432.8	−0.045%	$9.34B	$24.03B	150x	as long as short
Lighter BTC	+0.0096%	1h	85,417.9	−0.062%	$173.2M	$1.00B	50x	as long as short
Lighter RH BTC	+0.0096%	1h	85,421.8	−0.058%	$23.8M	$148.4M	50x	as long as short
Popdex BTCUSDT	+0.0096%	1h	85,519	+0.056%	$8.4M	$52.7M	100x	as long as short
Paradex BTC-USD-PERP	+0.0100%	8h	85,601.1	+0.152%	$4.1M	$8.5M	50x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	85,508	+0.043%	$229K	$8.0M	50x	as long as short
Hyperliquid BTC	+0.0100%	1h	85,485	+0.016%	$3.74B	$4.98B	40x	as long as short
Pacifica BTC	+0.0100%	1h	85,584.8	+0.133%	$40.1M	$575.8M	50x	as long as short
Bybit BTCUSDT	+0.0100%	8h	85,422.1	−0.057%	$5.24B	$9.68B	150x	as long as short
OKX BTC-USDT-SWAP	+0.0100%	8h	85,417.6	−0.063%	$2.57B	$12.09B	100x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	85,555	+0.098%	$3.9M	$18.0M	25x	as long as short
Gate BTC_USDT	+0.0100%	8h	85,411.5	−0.070%	$5.53B	$10.60B	200x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	85,389.3	−0.096%	$35.7M	$176.0M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	85,466.8	−0.005%	$153.8M	$563.2M	—	as long as short
edgeX BTCUSDC	+0.0100%	4h	85,507.5	+0.042%	$279.3M	$919.2M	100x	as long as short
GRVT BTC_USDT_Perp	+0.0100%	8h	85,511.2	+0.047%	$214.7M	$168.5M	50x	as long as short
ApeX Omni BTCUSDT	+0.0100%	1h	85,522.5	+0.060%	$139.9M	$314.9M	100x	as long as short
StandX BTC-USD	+0.0100%	1h	85,500.4	+0.034%	$30.2M	$207.5M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	85,560.5	+0.104%	—	$11.8M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	85,500	+0.034%	$11.0M	$14.2M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	85,459	−0.014%	$194K	$3.3M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	85,426.3	−0.053%	$2.3M	$8.7M	100x	as long as short
Derive BTC-PERP	+0.0100%	1h	85,417.1	−0.063%	$29.9M	$50.9M	15x	as long as short
SunX BTC-USDT	+0.0100%	8h	85,537.2	+0.077%	$2.9M	$6.1M	100x	as long as short
SoDEX BTC-USD	+0.0100%	1h	85,414	−0.067%	$59.9M	$336.1M	40x	as long as short
HTX BTC-USDT	+0.0100%	8h	85,416.6	−0.064%	$2.26B	$940.3M	200x	as long as short
Phemex BTCUSDT	+0.0100%	8h	85,421.9	−0.058%	$150.1M	$483.8M	150x	as long as short
Bulk BTC-USD	+0.0100%	1h	85,513.6	+0.049%	$649.6M	$594.9M	40x	as long as short
Extended BTC-USD	+0.0104%	1h	85,378.3	−0.109%	$44.5M	$226.4M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0056%	1h	85,567	+0.112%	—	$106.9M	500x	as long as short
Coinbase International BTC-PERP-INTX	+0.0104%	1h	85,453.9	−0.020%	$117.0M	$5.15B	50x	as long as short
Deribit BTC-PERPETUAL	+0.0113%	1h	85,458.6	−0.015%	$893.7M	$1.53B	50x	as long as short
Injective BTC/USDC PERP	+0.0150%	1h	85,539	+0.079%	$340K	$26.9M	52x	as long as short
Kraken Futures PF_XBTUSD	+0.0170%	1h	85,430.3	−0.048%	$188.6M	$953.6M	100x	as long as short
GMX BTC/USD [WBTC.b-USDC]long	L +0.0176% / S −0.0150%	1h	85,471.3	long leg	$13.4M	—	200x
Hibachi BTC/USDT-P	+0.0192%	1h	85,602.5	+0.154%	$695K	$7.9M	30x	as long as short
RISEx BTC/USDCshort	+0.0194%	1h	85,557.3	+0.101%	$8.3M	$42.4M	25x
Aftermath Perps BTCUSD	+0.0204%	1h	85,564.9	+0.110%	$78K	$219K	20x	as long as short
Kalshi KXBTCPERP	+0.0217%	8h	85,505	+0.039%	$10.5M	$758.8M	6.4x	as long as short
Perpl BTC	+0.0447%	43m	85,518.6	+0.055%	$498K	$18.9M	6.7x	as long as short