Funding you earn now, next payment 22:00 UTC+0.0003%/8h= +0.4% APRpaid last 24h +0.015%
Price spread now: Derive against OKX−0.033%7-day average −0.004% · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 7 days−0.036%−$4 on $10k
+Price spread, last 3 days (all we have)−0.040%−$4 · spread now −0.033%, 7d avg −0.004%
=Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Derive is 0.029% cheaper against OKX than usual: you would sell low and buy high, −$3 on $10k if it goes back to its 7-day average of −0.004%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | OKX BTC-USDT-SWAP | 86,598 | 0.0097 | pay 0.0097% / 8h | 2h 02m | $2.55B | $12.74B | 100x |
| Short | Derive BTC-PERP | 86,569.7 | 0.0100 | get 0.0013% / 1h | 2m 52s | $30.0M | $61.8M | 15x |
OKX BTC-USDT-SWAP
Derive BTC-PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Derive against OKX. 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
- $0.7
- Price spread: −0.033% → −0.004%
- −$2.89
- Slippage, 4 orders
- no order book: not counted
- Fee OKX: 5 bp × 2 orders
- −$10
- Fee Derive: 3 bp × 2 orders
- −$6
- Net
- −$18.19
- Costs to cover
- 0.160%
- Break-even
- 188.8 days
Slippage unknown: OKX: live order book, 1 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 OKX live order book, 1 min ago | 0.01 bp | 5.0 bp −$5 | 5.0 bp −$50 | 5.1 bp −$513 | 5.3 bp −$2,644 |
| 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 | |
|---|---|---|---|---|---|---|---|---|
| Aftermath Perps BTCUSD | −0.0255% | 1h | 86,613.1 | +0.017% | $81K | $193K | 20x | as long as short |
| Perpl BTC | −0.0223% | 43m | 86,573.3 | −0.029% | $425K | $24.5M | 6.7x | as long as short |
| Phoenix BTC | −0.0103% | 1h | 86,554 | −0.051% | $2.2M | $12.4M | 40x | as long as short |
| Hotstuff BTC-PERP | −0.0080% | 1h | 86,551 | −0.054% | $9K | $3K | 50x | as long as short |
| dYdX BTC-USD | −0.0066% | 1h | 86,591.4 | −0.008% | $17.6M | $20.6M | 50x | as long as short |
| Aster BTCUSDT | −0.0003% | 8h | 86,576.3 | −0.025% | $505.5M | $1.16B | 200x | as long as short |
| 01 Exchange BTCUSD | 0.0000% | 1h | 86,576.4 | −0.025% | $360K | $2.4M | 50x | as long as short |
| Deribit BTC-PERPETUAL | 0.0000% | 1h | 86,601 | +0.003% | $927.7M | $1.47B | 50x | as long as short |
| gTrade (Gains Network) BTC/USD | L +0.0005% / S −0.0004% | 1h | 86,590.8 | −0.008% | $36.9M | — | 200x | as long as short |
| KuCoin XBTUSDTM | +0.0005% | 8h | 86,575 | −0.027% | $850.8M | $709.2M | 125x | as long as short |
Aftermath Perps BTCUSD
Perpl BTC
Phoenix BTC
Hotstuff BTC-PERP
dYdX BTC-USD
Aster BTCUSDT
01 Exchange BTCUSD
Deribit BTC-PERPETUAL
gTrade (Gains Network) BTC/USD
KuCoin XBTUSDTMShow all 56 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Reya BTCRUSDPERP | +0.0022% | 1h | 86,552.9 | −0.052% | $6.7M | $144.5M | 40x | as long as short |
| BingX BTC-USDT | +0.0029% | 8h | 86,593.4 | −0.005% | — | $1.59B | — | as long as short |
| Phemex BTCUSDT | +0.0033% | 8h | 86,582.1 | −0.018% | $149.6M | $472.5M | 150x | as long as short |
| Bitget BTCUSDT | +0.0037% | 8h | 86,590.3 | −0.009% | $2.95B | $5.09B | 150x | as long as short |
| Injective BTC/USDC PERP | +0.0049% | 1h | 86,582 | −0.018% | $315K | $26.8M | 52x | as long as short |
| Aevo BTC-PERP | +0.0056% | 1h | 86,568.5 | −0.034% | $2.4M | $1.3M | 20x | as long as short |
| MEXC BTC_USDT | +0.0058% | 8h | 86,590.3 | −0.009% | $5.18B | $5.73B | 500x | as long as short |
| Binance BTCUSDT | +0.0058% | 8h | 86,591.4 | −0.008% | $9.42B | $24.37B | 150x | as long as short |
| RISEx BTC/USDC | +0.0063% | 1h | 86,585 | −0.015% | $8.7M | $43.1M | 25x | as long as short |
| Gate BTC_USDT | +0.0081% | 8h | 86,589.3 | −0.010% | $5.84B | $10.71B | 200x | as long as short |
| Bybit BTCUSDT | +0.0084% | 8h | 86,598 | 0.000% | $5.27B | $9.73B | 150x | as long as short |
| Lighter BTC | +0.0096% | 1h | 86,588.3 | −0.011% | $172.0M | $1.02B | 50x | as long as short |
| Lighter RH BTC | +0.0096% | 1h | 86,598.4 | 0.000% | $24.1M | $154.3M | 50x | as long as short |
| Popdex BTCUSDT | +0.0096% | 1h | 86,558 | −0.046% | $8.5M | $52.3M | 100x | as long as short |
| OKX BTC-USDT-SWAPlong | +0.0097% | 8h | 86,598 | long leg | $2.55B | $12.74B | 100x | |
| Katana Perps BTC-USD | +0.0100% | 8h | 86,543 | −0.064% | $201K | $6.8M | 50x | as long as short |
| Paradex BTC-USD-PERP | +0.0100% | 8h | 86,606.6 | +0.010% | $4.8M | $8.3M | 50x | as long as short |
| Nado BTC-PERP | +0.0100% | 1h | 86,558.1 | −0.046% | $21.7M | $234.9M | 50x | as long as short |
| Hyperliquid BTC | +0.0100% | 1h | 86,657.4 | +0.069% | $3.81B | $5.11B | 40x | as long as short |
| Pacifica BTC | +0.0100% | 1h | 86,592.1 | −0.007% | $40.9M | $498.0M | 50x | as long as short |
| Ondo Perps BTC-USD.P | +0.0100% | 1h | 86,550 | −0.055% | $3.9M | $18.6M | 25x | as long as short |
| Arcus BTC-USD | +0.0100% | 1h | 86,629.9 | +0.037% | $7.4M | $94.7M | 40x | as long as short |
| Bulk BTC-USD | +0.0100% | 1h | 86,682.4 | +0.097% | $572.6M | $21.1M | 40x | as long as short |
| Backpack BTC_USDC_PERP | +0.0100% | 1h | 86,583.6 | −0.017% | $38.2M | $151.0M | 75x | as long as short |
| Variational Omni BTC | +0.0100% | 8h | 86,546.2 | −0.060% | $159.9M | $565.9M | — | as long as short |
| edgeX BTCUSDC | +0.0100% | 4h | 86,557.7 | −0.047% | $279.5M | $942.5M | 100x | as long as short |
| GRVT BTC_USDT_Perp | +0.0100% | 8h | 86,562.1 | −0.041% | $217.2M | $185.3M | 50x | as long as short |
| ApeX Omni BTCUSDT | +0.0100% | 1h | 86,565.5 | −0.038% | $141.5M | $323.0M | 100x | as long as short |
| StandX BTC-USD | +0.0100% | 1h | 86,556 | −0.049% | $30.7M | $203.4M | 40x | as long as short |
| Vest BTC-PERP | +0.0100% | 1h | 86,609.2 | +0.013% | — | $11.6M | 50x | as long as short |
| Polymarket Perps BTC-USD | +0.0100% | 1h | 86,556 | −0.048% | $11.1M | $13.8M | 50x | as long as short |
| Bullet BTC-USD | +0.0100% | 1h | 86,568 | −0.035% | $191K | $3.4M | 20x | as long as short |
| Orderly PERP_BTC_USDC | +0.0100% | 8h | 86,585.3 | −0.015% | $2.4M | $8.6M | 100x | as long as short |
| Bluefin BTC-PERP | +0.0100% | 1h | 86,595.9 | −0.002% | $140K | $619K | 40x | as long as short |
| Derive BTC-PERPshort | +0.0100% | 1h | 86,569.7 | −0.033% | $30.0M | $61.8M | 15x | |
| SunX BTC-USDT | +0.0100% | 8h | 86,561.8 | −0.042% | $3.4M | $5.5M | 100x | as long as short |
| SoDEX BTC-USD | +0.0100% | 1h | 86,572 | −0.030% | $60.5M | $336.7M | 40x | as long as short |
| HTX BTC-USDT | +0.0100% | 8h | 86,558.2 | −0.046% | $2.30B | $960.4M | 200x | as long as short |
| Extended BTC-USD | +0.0104% | 1h | 86,579.6 | −0.021% | $46.4M | $226.6M | 50x | as long as short |
| Jupiter Perps WBTC-PERP | L +0.0104% / S +0.0048% | 1h | 86,581.6 | −0.019% | — | $98.9M | 500x | as long as short |
| Kraken Futures PF_XBTUSD | +0.0117% | 1h | 86,615.3 | +0.020% | $187.0M | $934.8M | 100x | as long as short |
| Coinbase International BTC-PERP-INTX | +0.0120% | 1h | 86,617 | +0.022% | $131.9M | $5.83B | 50x | as long as short |
| Hibachi BTC/USDT-P | +0.0168% | 1h | 86,591 | −0.008% | $780K | $7.9M | 30x | as long as short |
| Kalshi KXBTCPERP | +0.0173% | 8h | 86,602 | +0.005% | $9.6M | $727.4M | 6.4x | as long as short |
| BloFin BTC-USDT | +0.0178% | 8h | 86,579.9 | −0.021% | $416.9M | $655.8M | 150x | as long as short |
| GMX BTC/USD [WBTC.b-USDC] | L +0.0180% / S −0.0209% | 1h | 86,583.6 | −0.017% | $15.0M | — | 200x | as long as short |
Reya BTCRUSDPERP
BingX BTC-USDT
Phemex BTCUSDT
Bitget BTCUSDT
Injective BTC/USDC PERP
Aevo BTC-PERP
MEXC BTC_USDT
Binance BTCUSDT
RISEx BTC/USDC
Gate BTC_USDT
Bybit BTCUSDT
Lighter BTC
Lighter RH BTC
Popdex BTCUSDT
Katana Perps BTC-USD
Paradex BTC-USD-PERP
Nado BTC-PERP
Hyperliquid BTC
Pacifica BTC
Ondo Perps BTC-USD.P
Arcus BTC-USD
Bulk BTC-USD
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
SoDEX BTC-USD
HTX BTC-USDT
Extended BTC-USD
Jupiter Perps WBTC-PERP
Kraken Futures PF_XBTUSD
Coinbase International BTC-PERP-INTX
Hibachi BTC/USDT-P
Kalshi KXBTCPERP
BloFin BTC-USDT
GMX BTC/USD [WBTC.b-USDC]