BTC

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0050%/8h= −5.5% APRnext payment −$0.50 per $10,000 · paid last 24h −0.017%

Price spread now: Bitget against Orderly−0.015%7-day average −0.004% · you buy dearer than you sell

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

Long on Orderly Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days−0.083%−$8 on $10k

Price spread, last 3 days (all we have)+0.024%+$2 · spread now −0.015%, 7d avg −0.004%

Together, before fees−0.059%−$6 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.004%, so right now this pair is about funding alone: −$2 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Orderly PERP_BTC_USDC	86,402.6	0.0100	pay 0.0100% / 8h	59m 20s	$2.4M	$8.7M	100x
Short	Bitget BTCUSDT	86,389.8	0.0050	get 0.0050% / 8h	59m 20s	$2.95B	$5.11B	150x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against Orderly. 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 OrderlybpFee BitgetbpOrdersPrice spread, now −0.015%Rate

Funding earned: −$10.5
Price spread: −0.015% → −0.004%: −$1.07
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$29.57
Costs to cover: 0.180%
Break-even: never at this rate

Slippage unknown: Orderly: no order-book sample; Bitget: live order book, 5 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 Orderly no order-book sample	—	—	—	—	—
Sell Bitget live order book, 5 min ago	0.01 bp	6.0 bp −$6	6.0 bp −$60	6.1 bp −$614	doesn't fit

Orderly: 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	−0.0159%	1h	86,352	−0.059%	$2.2M	$11.7M	40x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	86,405	+0.003%	$9K	$3K	50x	as long as short
RISEx BTC/USDC	−0.0024%	1h	86,402.2	0.000%	$8.4M	$42.8M	25x	as long as short
01 Exchange BTCUSD	−0.0008%	1h	86,408.7	+0.007%	$357K	$2.5M	50x	as long as short
Aster BTCUSDT	−0.0007%	8h	86,395.2	−0.009%	$503.0M	$1.15B	200x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0005% / S −0.0004%	1h	86,415.1	+0.014%	$36.8M	—	200x	as long as short
KuCoin XBTUSDTM	+0.0007%	8h	86,391.4	−0.013%	$849.4M	$713.5M	125x	as long as short
dYdX BTC-USD	+0.0012%	1h	86,400.8	−0.002%	$17.0M	$21.1M	50x	as long as short
Deribit BTC-PERPETUAL	+0.0020%	1h	86,448.2	+0.053%	$916.5M	$1.49B	50x	as long as short
Reya BTCRUSDPERP	+0.0024%	1h	86,382.2	−0.024%	$6.7M	$145.1M	40x	as long as short

Show all 56 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Injective BTC/USDC PERP	+0.0024%	1h	86,403	0.000%	$332K	$26.8M	52x	as long as short
BingX BTC-USDT	+0.0038%	8h	86,399.1	−0.004%	—	$1.59B	—	as long as short
Phemex BTCUSDT	+0.0042%	8h	86,413.4	+0.012%	$149.7M	$477.6M	150x	as long as short
Bitget BTCUSDTshort	+0.0050%	8h	86,389.8	−0.015%	$2.95B	$5.11B	150x
Aevo BTC-PERP	+0.0064%	1h	86,409.4	+0.008%	$2.4M	$1.3M	20x	as long as short
MEXC BTC_USDT	+0.0067%	8h	86,395.4	−0.008%	$5.12B	$5.61B	500x	as long as short
Binance BTCUSDT	+0.0068%	8h	86,400.3	−0.003%	$9.41B	$24.50B	150x	as long as short
Aftermath Perps BTCUSD	+0.0076%	1h	86,402.9	0.000%	$79K	$220K	20x	as long as short
Gate BTC_USDT	+0.0082%	8h	86,399.3	−0.004%	$5.84B	$10.68B	200x	as long as short
Lighter BTC	+0.0096%	1h	86,417.2	+0.017%	$170.3M	$1.01B	50x	as long as short
Lighter RH BTC	+0.0096%	1h	86,419.1	+0.019%	$24.0M	$151.1M	50x	as long as short
Popdex BTCUSDT	+0.0096%	1h	86,398	−0.005%	$8.4M	$52.4M	100x	as long as short
Bybit BTCUSDT	+0.0098%	8h	86,398.5	−0.005%	$5.26B	$9.80B	150x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	86,379	−0.027%	$203K	$7.0M	50x	as long as short
Paradex BTC-USD-PERP	+0.0100%	8h	86,425.1	+0.026%	$4.8M	$8.5M	50x	as long as short
Nado BTC-PERP	+0.0100%	1h	86,415.6	+0.015%	$21.8M	$234.5M	50x	as long as short
Hyperliquid BTC	+0.0100%	1h	86,466	+0.073%	$3.79B	$5.10B	40x	as long as short
Pacifica BTC	+0.0100%	1h	86,439.6	+0.043%	$41.1M	$521.5M	50x	as long as short
OKX BTC-USDT-SWAP	+0.0100%	8h	86,400	−0.003%	$2.54B	$12.70B	100x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	86,414	+0.013%	$3.9M	$18.6M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	86,438.2	+0.041%	$7.6M	$94.6M	40x	as long as short
Bulk BTC-USD	+0.0100%	1h	86,382.9	−0.023%	$571.1M	$18.1M	40x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	86,410.4	+0.009%	$37.8M	$154.7M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	86,337.9	−0.075%	$155.6M	$568.2M	—	as long as short
edgeX BTCUSDC	+0.0100%	4h	86,361.4	−0.048%	$279.1M	$946.0M	100x	as long as short
GRVT BTC_USDT_Perp	+0.0100%	8h	86,348.3	−0.063%	$216.7M	$173.5M	50x	as long as short
ApeX Omni BTCUSDT	+0.0100%	1h	86,372.8	−0.034%	$141.2M	$323.4M	100x	as long as short
StandX BTC-USD	+0.0100%	1h	86,396.8	−0.007%	$30.7M	$204.3M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	86,439.8	+0.043%	—	$11.7M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	86,398	−0.005%	$11.1M	$13.8M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	86,400.2	−0.003%	$190K	$3.3M	20x	as long as short
Orderly PERP_BTC_USDClong	+0.0100%	8h	86,402.6	long leg	$2.4M	$8.7M	100x
Bluefin BTC-PERP	+0.0100%	1h	86,433.8	+0.036%	$140K	$663K	40x	as long as short
Derive BTC-PERP	+0.0100%	1h	86,450.5	+0.055%	$30.6M	$62.2M	15x	as long as short
SunX BTC-USDT	+0.0100%	8h	86,409.5	+0.008%	$3.4M	$5.4M	100x	as long as short
SoDEX BTC-USD	+0.0100%	1h	86,417	+0.017%	$60.4M	$337.5M	40x	as long as short
HTX BTC-USDT	+0.0100%	8h	86,403.6	+0.001%	$2.29B	$969.1M	200x	as long as short
Extended BTC-USD	+0.0104%	1h	86,375.2	−0.032%	$45.5M	$226.5M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0048%	1h	86,407	+0.005%	—	$99.0M	500x	as long as short
Perpl BTC	+0.0112%	43m	86,422.7	+0.023%	$418K	$23.4M	6.7x	as long as short
Coinbase International BTC-PERP-INTX	+0.0112%	1h	86,454.9	+0.061%	$132.2M	$5.68B	50x	as long as short
Kraken Futures PF_XBTUSD	+0.0121%	1h	86,441.9	+0.046%	$192.1M	$947.6M	100x	as long as short
Hibachi BTC/USDT-P	+0.0152%	1h	86,381.8	−0.024%	$718K	$8.1M	30x	as long as short
BloFin BTC-USDT	+0.0187%	8h	86,375	−0.032%	$414.5M	$654.2M	150x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0189% / S −0.0212%	1h	86,411.8	+0.011%	$15.1M	—	200x	as long as short
Kalshi KXBTCPERP	+0.0200%	8h	86,421	+0.021%	$9.6M	$737.1M	6.4x	as long as short