BTC

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0321%/8h= −35.2% APRnext payment −$0.40 per $10,000 · paid last 24h +0.018%

Price spread now: Aftermath Perps against Ondo Perps−0.058%7-day average +0.023% · you buy dearer than you sell

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

Long on Ondo Perps Short on Aftermath Perps

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.034%+$3 on $10k

Price spread, last 3 days (all we have)+0.187%+$19 · spread now −0.058%, 7d avg +0.023%

Together, before fees+0.221%+ Points / potential airdropOndo Perps: Active · farm board+$22 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$10 a day on $10k at the current rate, and Aftermath Perps is 0.081% cheaper against Ondo Perps than usual: you would sell low and buy high (−$8 if the spread goes back to its 7-day average of +0.023%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 3 days it paid 0.034% in total (about 4.0% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.40 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Ondo Perps BTC-USD.P	86,676	0.0100	pay 0.0013% / 1h	37m 18s	$3.9M	$18.6M	25x
Short	Aftermath Perps BTCUSD	86,625.7	−0.0221	pay 0.0028% / 1h	37m 18s	$85K	$188K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aftermath Perps against Ondo Perps. 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 Ondo PerpsbpFee Aftermath PerpsbpOrdersPrice spread, now −0.058%Rate

Funding earned: −$67.49
Price spread: −0.058% → +0.023%: −$8.12
Slippage, 4 orders: no order book: not counted
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Fee Aftermath Perps: 4.5 bp × 2 orders: −$9
Net: −$89.61
Costs to cover: 0.140%
Break-even: never at this rate

Slippage unknown: Ondo Perps: no order-book sample; Aftermath Perps: live order book, 51 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 Ondo Perps no order-book sample	—	—	—	—	—
Sell Aftermath Perps live order book, 51 min ago	0.00 bp	8.6 bp −$9	18.2 bp −$182	doesn't fit	doesn't fit

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
Perpl BTC	−0.0223%	43m	86,671.9	−0.005%	$428K	$24.9M	6.7x	as long as short
Aftermath Perps BTCUSDshort	−0.0221%	1h	86,625.7	−0.058%	$85K	$188K	20x
Phoenix BTC	−0.0103%	1h	86,539	−0.158%	$2.2M	$12.4M	40x	as long as short
dYdX BTC-USD	−0.0095%	1h	86,676.5	+0.001%	$17.6M	$20.5M	50x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	86,514	−0.187%	$9K	$3K	50x	as long as short
01 Exchange BTCUSD	0.0000%	1h	86,675.5	−0.001%	$361K	$2.4M	50x	as long as short
KuCoin XBTUSDTM	0.0000%	8h	86,664.9	−0.013%	$845.7M	$707.5M	125x	as long as short
Deribit BTC-PERPETUAL	0.0000%	1h	86,681.9	+0.007%	$936.1M	$1.43B	50x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0005% / S −0.0005%	1h	86,684.9	+0.010%	$36.7M	—	200x	as long as short
Aster BTCUSDT	+0.0008%	8h	86,641.7	−0.040%	$505.9M	$1.16B	200x	as long as short

Show all 56 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Reya BTCRUSDPERP	+0.0021%	1h	86,659.3	−0.019%	$6.8M	$144.3M	40x	as long as short
BingX BTC-USDC	+0.0022%	8h	86,649.2	−0.031%	—	$15.2M	—	as long as short
Phemex BTCUSDT	+0.0024%	8h	86,640.7	−0.041%	$149.7M	$470.8M	150x	as long as short
Bitget BTCUSDT	+0.0028%	8h	86,651.8	−0.028%	$2.95B	$5.07B	150x	as long as short
Aevo BTC-PERP	+0.0048%	1h	86,660.8	−0.018%	$2.4M	$1.3M	20x	as long as short
Injective BTC/USDC PERP	+0.0049%	1h	86,732	+0.065%	$315K	$26.8M	52x	as long as short
MEXC BTC_USDT	+0.0050%	8h	86,663.4	−0.015%	$5.19B	$5.66B	500x	as long as short
Binance BTCUSDT	+0.0050%	8h	86,665.4	−0.012%	$9.44B	$24.30B	150x	as long as short
RISEx BTC/USDC	+0.0063%	1h	86,678.3	+0.003%	$9.2M	$42.0M	25x	as long as short
Gate BTC_USDT	+0.0068%	8h	86,660.3	−0.018%	$5.86B	$10.62B	200x	as long as short
OKX BTC-USDT-SWAP	+0.0069%	8h	86,667.6	−0.010%	$2.57B	$12.70B	100x	as long as short
Bybit BTCUSDT	+0.0079%	8h	86,662.8	−0.015%	$5.28B	$9.66B	150x	as long as short
Variational Omni BTC	+0.0091%	8h	86,619.6	−0.065%	$160.0M	$567.4M	—	as long as short
Lighter BTC	+0.0096%	1h	86,667.9	−0.009%	$172.1M	$1.01B	50x	as long as short
Lighter RH BTC	+0.0096%	1h	86,652.1	−0.028%	$24.0M	$153.4M	50x	as long as short
Popdex BTCUSDT	+0.0096%	1h	86,667	−0.010%	$8.5M	$52.1M	100x	as long as short
Paradex BTC-USD-PERP	+0.0100%	8h	86,714	+0.044%	$4.8M	$8.2M	50x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	86,655	−0.024%	$195K	$6.8M	50x	as long as short
Nado BTC-PERP	+0.0100%	1h	86,635.2	−0.047%	$21.6M	$235.5M	50x	as long as short
Hyperliquid BTC	+0.0100%	1h	86,733	+0.066%	$3.82B	$5.12B	40x	as long as short
Pacifica BTC	+0.0100%	1h	86,678.3	+0.003%	$41.3M	$490.3M	50x	as long as short
Ondo Perps BTC-USD.Plong	+0.0100%	1h	86,676	long leg	$3.9M	$18.6M	25x
Arcus BTC-USD	+0.0100%	1h	86,737.8	+0.071%	$7.5M	$93.6M	40x	as long as short
Bulk BTC-USD	+0.0100%	1h	86,606.9	−0.080%	$571.9M	$22.8M	40x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	86,586.3	−0.103%	$38.1M	$148.3M	75x	as long as short
edgeX BTCUSDC	+0.0100%	4h	86,571.5	−0.121%	$279.6M	$949.6M	100x	as long as short
GRVT BTC_USDT_Perp	+0.0100%	8h	86,620.3	−0.064%	$217.5M	$188.3M	50x	as long as short
ApeX Omni BTCUSDT	+0.0100%	1h	86,631.1	−0.052%	$141.6M	$323.0M	100x	as long as short
StandX BTC-USD	+0.0100%	1h	86,531.1	−0.167%	$30.8M	$205.6M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	86,703.8	+0.032%	—	$11.6M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	86,669	−0.008%	$11.1M	$13.7M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	86,667.2	−0.010%	$194K	$3.4M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	86,681.6	+0.006%	$2.5M	$8.5M	100x	as long as short
Bluefin BTC-PERP	+0.0100%	1h	86,690.1	+0.016%	$141K	$619K	40x	as long as short
Derive BTC-PERP	+0.0100%	1h	86,668.3	−0.009%	$30.0M	$61.6M	15x	as long as short
SunX BTC-USDT	+0.0100%	8h	86,659.4	−0.019%	$3.4M	$5.5M	100x	as long as short
SoDEX BTC-USD	+0.0100%	1h	86,647	−0.033%	$60.5M	$336.5M	40x	as long as short
HTX BTC-USDT	+0.0100%	8h	86,654.6	−0.025%	$2.30B	$956.9M	200x	as long as short
Extended BTC-USD	+0.0104%	1h	86,647.8	−0.033%	$46.4M	$227.9M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0048%	1h	86,692.7	+0.019%	—	$98.3M	500x	as long as short
Kraken Futures PF_XBTUSD	+0.0116%	1h	86,682.4	+0.007%	$189.3M	$930.4M	100x	as long as short
Kalshi KXBTCPERP	+0.0120%	8h	86,571	−0.121%	$8.9M	$723.2M	6.4x	as long as short
Coinbase International BTC-PERP-INTX	+0.0120%	1h	86,694	+0.021%	$131.9M	$5.87B	50x	as long as short
BloFin BTC-USDT	+0.0171%	8h	86,555	−0.140%	$416.9M	$646.9M	150x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0178% / S −0.0185%	1h	86,677.4	+0.002%	$14.9M	—	200x	as long as short
Hibachi BTC/USDT-P	+0.0224%	1h	86,585.9	−0.104%	$614K	$7.1M	30x	as long as short