Funding you earn now, next payment 05:00 UTC+0.0136%/8h= +14.9% APRpaid last 24h +0.028%
Price spread now: Derive against KuCoin+0.009%7-day average +0.003% · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 7 days+0.019%+$2 on $10k
+Price spread, last 4 days (all we have)−0.074%−$7 · spread now +0.009%, 7d avg +0.003%
=The price spread sits at its 7-day average of +0.003%, so right now this pair is about funding alone: +$4 a day on $10k at the current rate.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | KuCoin XBTUSDTM | 85,611.1 | −0.0036 | get 0.0036% / 8h | 3h 57m | $923.2M | $754.0M | 125x |
| Short | Derive BTC-PERP | 85,618.8 | 0.0100 | get 0.0013% / 1h | 57m 28s | $30.0M | $50.0M | 15x |
KuCoin XBTUSDTM
Derive BTC-PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Derive against KuCoin. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- $28.56
- Price spread: +0.009% → +0.003%
- $0.57
- Slippage, 4 orders
- no order book: not counted
- Fee KuCoin: 6 bp × 2 orders
- −$12
- Fee Derive: 3 bp × 2 orders
- −$6
- Net
- $11.13
- Costs to cover
- 0.180%
- Break-even
- 4.3 days
Slippage unknown: KuCoin: live order book, 2 min ago; 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 KuCoin live order book, 2 min ago | 0.01 bp | 6.0 bp −$6 | 6.0 bp −$60 | 7.6 bp −$755 | doesn't fit |
| Sell Derive no order-book sample | — | — | — | — | — |
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 | |
|---|---|---|---|---|---|---|---|---|
| Phoenix BTC | −0.0179% | 1h | 85,646 | +0.041% | $2.1M | $10.4M | 40x | as long as short |
| Hotstuff BTC-PERP | −0.0080% | 1h | 85,649 | +0.044% | $8K | $3K | 50x | as long as short |
| KuCoin XBTUSDTMlong | −0.0036% | 8h | 85,611.1 | long leg | $923.2M | $754.0M | 125x | |
| BloFin BTC-USDT | −0.0020% | 8h | 85,665 | +0.063% | $418.0M | $675.1M | 150x | as long as short |
| 01 Exchange BTCUSD | −0.0016% | 1h | 85,635.4 | +0.028% | $367K | $2.3M | 50x | as long as short |
| dYdX BTC-USD | 0.0000% | 1h | 85,635.6 | +0.029% | $16.8M | $21.3M | 50x | as long as short |
| gTrade (Gains Network) BTC/USD | L +0.0005% / S −0.0004% | 1h | 85,637.3 | +0.031% | $36.6M | — | 200x | as long as short |
| Aster BTCUSDT | +0.0014% | 8h | 85,621.3 | +0.012% | $516.1M | $1.10B | 200x | as long as short |
| Nado BTC-PERP | +0.0022% | 1h | 85,634.6 | +0.027% | $25.0M | $222.4M | 50x | as long as short |
| Injective BTC/USDC PERP | +0.0044% | 1h | 85,690 | +0.092% | $340K | $26.9M | 52x | as long as short |
Phoenix BTC
Hotstuff BTC-PERP
BloFin BTC-USDT
01 Exchange BTCUSD
dYdX BTC-USD
gTrade (Gains Network) BTC/USD
Aster BTCUSDT
Nado BTC-PERP
Injective BTC/USDC PERPShow all 56 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| BingX BTC-USDT | +0.0063% | 8h | 85,630.1 | +0.022% | — | $1.54B | — | as long as short |
| Phemex BTCUSDT | +0.0064% | 8h | 85,623.2 | +0.014% | $148.6M | $489.3M | 150x | as long as short |
| SoDEX BTC-USD | +0.0070% | 1h | 85,627 | +0.019% | $60.0M | $336.1M | 40x | as long as short |
| Bitget BTCUSDT | +0.0080% | 8h | 85,626.6 | +0.018% | $2.96B | $5.10B | 150x | as long as short |
| Reya BTCRUSDPERP | +0.0089% | 1h | 85,625.8 | +0.017% | $6.6M | $146.9M | 40x | as long as short |
| Lighter BTC | +0.0096% | 1h | 85,640.9 | +0.035% | $172.4M | $1.01B | 50x | as long as short |
| Lighter RH BTC | +0.0096% | 1h | 85,645.1 | +0.040% | $23.9M | $147.7M | 50x | as long as short |
| Popdex BTCUSDT | +0.0096% | 1h | 85,625 | +0.016% | $8.7M | $54.0M | 100x | as long as short |
| Aevo BTC-PERP | +0.0096% | 1h | 85,621.2 | +0.012% | $2.5M | $1.7M | 20x | as long as short |
| Katana Perps BTC-USD | +0.0100% | 8h | 85,601 | −0.012% | $202K | $8.2M | 50x | as long as short |
| Paradex BTC-USD-PERP | +0.0100% | 8h | 85,698.8 | +0.102% | $5.2M | $9.1M | 50x | as long as short |
| Pacifica BTC | +0.0100% | 1h | 85,666.1 | +0.064% | $40.5M | $582.0M | 50x | as long as short |
| Binance BTCUSDT | +0.0100% | 8h | 85,625.7 | +0.017% | $9.38B | $24.26B | 150x | as long as short |
| Bybit BTCUSDT | +0.0100% | 8h | 85,620.9 | +0.011% | $5.19B | $9.82B | 150x | as long as short |
| OKX BTC-USDT-SWAP | +0.0100% | 8h | 85,635.7 | +0.029% | $2.59B | $12.17B | 100x | as long as short |
| Ondo Perps BTC-USD.P | +0.0100% | 1h | 85,617 | +0.007% | $3.8M | $17.8M | 25x | as long as short |
| Arcus BTC-USD | +0.0100% | 1h | 85,617.4 | +0.007% | $4.4M | $98.4M | 40x | as long as short |
| Bulk BTC-USD | +0.0100% | 1h | 85,487.5 | −0.144% | $672.1M | $698.9M | 40x | as long as short |
| Gate BTC_USDT | +0.0100% | 8h | 85,633.5 | +0.026% | $5.52B | $10.71B | 200x | as long as short |
| MEXC BTC_USDT | +0.0100% | 8h | 85,634.7 | +0.028% | $5.06B | $5.62B | 500x | as long as short |
| Backpack BTC_USDC_PERP | +0.0100% | 1h | 85,616.5 | +0.006% | $35.7M | $177.3M | 75x | as long as short |
| Variational Omni BTC | +0.0100% | 8h | 85,565.9 | −0.053% | $153.8M | $564.4M | — | as long as short |
| edgeX BTCUSDC | +0.0100% | 4h | 85,637 | +0.030% | $279.8M | $921.8M | 100x | as long as short |
| GRVT BTC_USDT_Perp | +0.0100% | 8h | 85,666.6 | +0.065% | $215.0M | $167.9M | 50x | as long as short |
| ApeX Omni BTCUSDT | +0.0100% | 1h | 85,668.6 | +0.067% | $140.1M | $315.0M | 100x | as long as short |
| StandX BTC-USD | +0.0100% | 1h | 85,629.2 | +0.021% | $30.2M | $208.7M | 40x | as long as short |
| Vest BTC-PERP | +0.0100% | 1h | 85,682.2 | +0.083% | — | $11.8M | 50x | as long as short |
| Polymarket Perps BTC-USD | +0.0100% | 1h | 85,630 | +0.022% | $11.1M | $14.3M | 50x | as long as short |
| Bullet BTC-USD | +0.0100% | 1h | 85,633.7 | +0.026% | $195K | $3.3M | 20x | as long as short |
| Orderly PERP_BTC_USDC | +0.0100% | 8h | 85,632.8 | +0.025% | $2.4M | $8.8M | 100x | as long as short |
| Bluefin BTC-PERP | +0.0100% | 1h | 85,674.7 | +0.074% | $207K | $739K | 40x | as long as short |
| Derive BTC-PERPshort | +0.0100% | 1h | 85,618.8 | +0.009% | $30.0M | $50.0M | 15x | |
| SunX BTC-USDT | +0.0100% | 8h | 85,618.8 | +0.009% | $2.9M | $6.1M | 100x | as long as short |
| HTX BTC-USDT | +0.0100% | 8h | 85,625 | +0.016% | $2.27B | $946.4M | 200x | as long as short |
| Extended BTC-USD | +0.0104% | 1h | 85,600.8 | −0.012% | $44.8M | $231.2M | 50x | as long as short |
| Jupiter Perps WBTC-PERP | L +0.0104% / S +0.0048% | 1h | 85,665.6 | +0.064% | — | $107.7M | 500x | as long as short |
| Coinbase International BTC-PERP-INTX | +0.0104% | 1h | 85,660.8 | +0.058% | $117.2M | $5.21B | 50x | as long as short |
| Deribit BTC-PERPETUAL | +0.0105% | 1h | 85,668.4 | +0.067% | $886.5M | $1.58B | 50x | as long as short |
| Hyperliquid BTC | +0.0113% | 1h | 85,716 | +0.123% | $3.79B | $5.01B | 40x | as long as short |
| Kraken Futures PF_XBTUSD | +0.0135% | 1h | 85,644 | +0.038% | $187.7M | $955.6M | 100x | as long as short |
| RISEx BTC/USDC | +0.0174% | 1h | 85,652.5 | +0.048% | $8.9M | $42.9M | 25x | as long as short |
| GMX BTC/USD [WBTC.b-USDC] | L +0.0202% / S −0.0178% | 1h | 85,640.6 | +0.035% | $13.2M | — | 200x | as long as short |
| Aftermath Perps BTCUSD | +0.0213% | 1h | 85,607.1 | −0.005% | $78K | $220K | 20x | as long as short |
| Kalshi KXBTCPERP | +0.0220% | 8h | 85,666 | +0.064% | $12.0M | $757.4M | 6.4x | as long as short |
| Hibachi BTC/USDT-P | +0.0256% | 1h | 85,699.5 | +0.103% | $703K | $7.9M | 30x | as long as short |
| Perpl BTC | +0.0335% | 43m | 85,638.7 | +0.032% | $502K | $18.8M | 6.7x | as long as short |
BingX BTC-USDT
Phemex BTCUSDT
SoDEX BTC-USD
Bitget BTCUSDT
Reya BTCRUSDPERP
Lighter BTC
Lighter RH BTC
Popdex BTCUSDT
Aevo BTC-PERP
Katana Perps BTC-USD
Paradex BTC-USD-PERP
Pacifica BTC
Binance BTCUSDT
Bybit BTCUSDT
OKX BTC-USDT-SWAP
Ondo Perps BTC-USD.P
Arcus BTC-USD
Bulk BTC-USD
Gate BTC_USDT
MEXC BTC_USDT
Backpack BTC_USDC_PERP
Variational Omni BTC
edgeX BTCUSDC
GRVT BTC_USDT_Perp
ApeX Omni BTCUSDT
StandX BTC-USD
Vest BTC-PERP
Polymarket Perps BTC-USD
Bullet BTC-USD
Orderly PERP_BTC_USDC
Bluefin BTC-PERP
SunX BTC-USDT
HTX BTC-USDT
Extended BTC-USD
Jupiter Perps WBTC-PERP
Coinbase International BTC-PERP-INTX
Deribit BTC-PERPETUAL
Hyperliquid BTC
Kraken Futures PF_XBTUSD
RISEx BTC/USDC
GMX BTC/USD [WBTC.b-USDC]
Aftermath Perps BTCUSD
Kalshi KXBTCPERP
Hibachi BTC/USDT-P
Perpl BTC