BTC

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0180%/8h= +19.7% APRnext payment +$0.23 per $10,000 · paid last 24h +0.061%

Price spread now: Derive against Hotstuff+0.003%7-day average — · you sell dearer than you buy

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

Long on Hotstuff Short on Derive

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropHotstuff: Active · farm boardneeds both histories

The price spread sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: +$5 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hotstuff BTC-PERP	86,531	−0.0080	get 0.0010% / 1h	51m 33s	$9K	$3K	50x
Short	Derive BTC-PERP	86,533.8	0.0100	get 0.0013% / 1h	51m 33s	$30.0M	$61.6M	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Derive against Hotstuff. 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 HotstuffbpFee DerivebpOrdersPrice spread, now +0.003%Rate

Funding earned: $37.8
Price spread: +0.003% → 0.000%: $0.32
Slippage, 4 orders: no order book: not counted
Fee Hotstuff: 2.5 bp × 2 orders: −$5
Fee Derive: 3 bp × 2 orders: −$6
Net: $27.12
Costs to cover: 0.110%
Break-even: 2.0 days

Slippage unknown: Hotstuff: no order-book sample; Derive: 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 Hotstuff no order-book sample	—	—	—	—	—
Sell Derive no order-book sample	—	—	—	—	—

Hotstuff and Derive: 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
Aftermath Perps BTCUSD	−0.0206%	1h	86,613.4	+0.095%	$79K	$199K	20x	as long as short
Phoenix BTC	−0.0159%	1h	86,601	+0.081%	$2.2M	$11.8M	40x	as long as short
Hotstuff BTC-PERPlong	−0.0080%	1h	86,531	long leg	$9K	$3K	50x
dYdX BTC-USD	−0.0028%	1h	86,590.3	+0.069%	$17.6M	$20.6M	50x	as long as short
01 Exchange BTCUSD	−0.0008%	1h	86,552.8	+0.025%	$359K	$2.4M	50x	as long as short
Aster BTCUSDT	−0.0006%	8h	86,527.7	−0.004%	$505.2M	$1.16B	200x	as long as short
Perpl BTC	0.0000%	43m	86,555.1	+0.028%	$421K	$24.2M	6.7x	as long as short
Deribit BTC-PERPETUAL	0.0000%	1h	86,565.7	+0.040%	$925.9M	$1.47B	50x	as long as short
KuCoin XBTUSDTM	+0.0003%	8h	86,517.3	−0.016%	$850.4M	$709.5M	125x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0005% / S −0.0004%	1h	86,558.8	+0.032%	$36.8M	—	200x	as long as short

Show all 56 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
RISEx BTC/USDC	+0.0006%	1h	86,539.3	+0.010%	$8.5M	$43.2M	25x	as long as short
Hibachi BTC/USDT-P	+0.0008%	1h	86,596.7	+0.076%	$725K	$8.1M	30x	as long as short
Reya BTCRUSDPERP	+0.0022%	1h	86,557.3	+0.030%	$6.7M	$144.7M	40x	as long as short
Injective BTC/USDC PERP	+0.0024%	1h	86,587	+0.065%	$315K	$26.8M	52x	as long as short
Phemex BTCUSDT	+0.0028%	8h	86,552.4	+0.025%	$149.7M	$473.4M	150x	as long as short
BingX BTC-USDC	+0.0030%	8h	86,512.3	−0.022%	—	$15.4M	—	as long as short
Bitget BTCUSDT	+0.0038%	8h	86,530.8	0.000%	$2.95B	$5.09B	150x	as long as short
Aevo BTC-PERP	+0.0056%	1h	86,532.4	+0.002%	$2.4M	$1.3M	20x	as long as short
MEXC BTC_USDT	+0.0059%	8h	86,527.6	−0.004%	$5.19B	$5.61B	500x	as long as short
Binance BTCUSDT	+0.0059%	8h	86,528.1	−0.003%	$9.42B	$24.37B	150x	as long as short
SoDEX BTC-USD	+0.0063%	1h	86,528	−0.003%	$60.5M	$336.7M	40x	as long as short
Gate BTC_USDT	+0.0084%	8h	86,528.8	−0.003%	$5.85B	$10.62B	200x	as long as short
Bybit BTCUSDT	+0.0088%	8h	86,530.7	0.000%	$5.27B	$9.74B	150x	as long as short
Lighter BTC	+0.0096%	1h	86,536.6	+0.006%	$172.0M	$997.3M	50x	as long as short
Lighter RH BTC	+0.0096%	1h	86,552.4	+0.025%	$24.0M	$151.6M	50x	as long as short
Popdex BTCUSDT	+0.0096%	1h	86,529	−0.002%	$8.5M	$52.3M	100x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	86,516	−0.017%	$205K	$6.9M	50x	as long as short
Paradex BTC-USD-PERP	+0.0100%	8h	86,564.4	+0.039%	$4.7M	$8.3M	50x	as long as short
Nado BTC-PERP	+0.0100%	1h	86,545.6	+0.017%	$21.6M	$234.2M	50x	as long as short
Hyperliquid BTC	+0.0100%	1h	86,609.2	+0.090%	$3.81B	$5.09B	40x	as long as short
Pacifica BTC	+0.0100%	1h	86,570	+0.045%	$41.0M	$499.4M	50x	as long as short
OKX BTC-USDT-SWAP	+0.0100%	8h	86,535.1	+0.005%	$2.55B	$12.71B	100x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	86,519	−0.014%	$3.9M	$18.6M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	86,613.4	+0.095%	$7.4M	$94.0M	40x	as long as short
Bulk BTC-USD	+0.0100%	1h	86,527.4	−0.004%	$571.7M	$19.3M	40x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	86,532.5	+0.002%	$38.2M	$153.0M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	86,582.6	+0.060%	$156.4M	$568.8M	—	as long as short
edgeX BTCUSDC	+0.0100%	4h	86,579.9	+0.056%	$279.6M	$942.4M	100x	as long as short
GRVT BTC_USDT_Perp	+0.0100%	8h	86,665.5	+0.155%	$217.4M	$182.6M	50x	as long as short
ApeX Omni BTCUSDT	+0.0100%	1h	86,648.6	+0.136%	$141.6M	$323.0M	100x	as long as short
StandX BTC-USD	+0.0100%	1h	86,577.3	+0.053%	$30.7M	$202.9M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	86,624.6	+0.108%	—	$11.6M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	86,574	+0.050%	$11.1M	$13.6M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	86,554.3	+0.027%	$193K	$3.4M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	86,548.9	+0.021%	$2.4M	$8.6M	100x	as long as short
Bluefin BTC-PERP	+0.0100%	1h	86,556.1	+0.029%	$140K	$618K	40x	as long as short
Derive BTC-PERPshort	+0.0100%	1h	86,533.8	+0.003%	$30.0M	$61.6M	15x
SunX BTC-USDT	+0.0100%	8h	86,547.8	+0.019%	$3.4M	$5.5M	100x	as long as short
HTX BTC-USDT	+0.0100%	8h	86,531.1	0.000%	$2.30B	$959.5M	200x	as long as short
Extended BTC-USD	+0.0104%	1h	86,519	−0.014%	$46.4M	$225.5M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0048%	1h	86,570.5	+0.046%	—	$99.0M	500x	as long as short
Coinbase International BTC-PERP-INTX	+0.0112%	1h	86,576	+0.052%	$131.6M	$5.78B	50x	as long as short
Kraken Futures PF_XBTUSD	+0.0121%	1h	86,562.3	+0.036%	$191.3M	$937.3M	100x	as long as short
BloFin BTC-USDT	+0.0180%	8h	86,545.9	+0.017%	$416.7M	$655.0M	150x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0180% / S −0.0210%	1h	86,555.9	+0.029%	$15.0M	—	200x	as long as short
Kalshi KXBTCPERP	+0.0187%	8h	86,585	+0.062%	$9.5M	$726.7M	6.4x	as long as short