BTC

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0016%/8h= −1.7% APRnext payment −$0.16 per $10,000 · paid last 24h 0.000%

Price spread now: SunX against Orderly+0.020%7-day average −0.009% · you sell dearer than you buy

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

Long on Orderly Short on SunX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.047%−$5 on $10k

Price spread, last 4 days (all we have)−0.060%−$6 · spread now +0.020%, 7d avg −0.009%

Together, before fees−0.107%−$11 on $10k · with fees, hour by hour

The price spread pays, funding is against you. SunX is 0.029% dearer against Orderly than usual: you sell high and buy low (spread +0.020% now, against its 7-day average of −0.009%): +$3 on $10k if it goes back. Holding the pair costs $0 a day in funding at the current rate, which eats that in about 6.1 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Orderly PERP_BTC_USDC	85,500.4	0.0100	pay 0.0100% / 8h	5h 40m	$2.4M	$8.8M	100x
Short	SunX BTC-USDT	85,517.4	0.0084	get 0.0084% / 8h	5h 40m	$2.9M	$6.1M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now +0.020%Rate

Funding earned: −$3.31
Price spread: +0.020% → −0.009%: $2.88
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee SunX: 4 bp × 2 orders: −$8
Net: −$14.43
Costs to cover: 0.140%
Break-even: never at this rate

Slippage unknown: Orderly: no order-book sample; SunX: live order book, 8 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 SunX live order book, 8 min ago	0.44 bp	4.4 bp −$4	5.0 bp −$50	6.8 bp −$684	10.0 bp −$5,024

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	−0.0160%	1h	85,485	−0.018%	$2.2M	$10.3M	40x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	85,569	+0.080%	$8K	$3K	50x	as long as short
01 Exchange BTCUSD	−0.0048%	1h	85,540.4	+0.047%	$369K	$2.3M	50x	as long as short
BloFin BTC-USDT	−0.0033%	8h	85,512.5	+0.014%	$414.8M	$661.8M	150x	as long as short
dYdX BTC-USD	0.0000%	1h	85,549.1	+0.057%	$16.7M	$20.9M	50x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0004% / S −0.0004%	1h	85,527.1	+0.031%	$36.6M	—	200x	as long as short
Nado BTC-PERP	+0.0010%	1h	85,533.6	+0.039%	$22.7M	$221.7M	50x	as long as short
KuCoin XBTUSDTM	+0.0013%	8h	85,557.3	+0.066%	$918.6M	$749.6M	125x	as long as short
Aster BTCUSDT	+0.0019%	8h	85,577.4	+0.090%	$515.7M	$1.11B	200x	as long as short
BingX BTC-USDT	+0.0054%	8h	85,584	+0.098%	—	$1.54B	—	as long as short

Show all 56 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Deribit BTC-PERPETUAL	+0.0055%	1h	85,539.9	+0.046%	$893.3M	$1.52B	50x	as long as short
Reya BTCRUSDPERP	+0.0066%	1h	85,516.5	+0.019%	$6.7M	$146.4M	40x	as long as short
Bitget BTCUSDT	+0.0067%	8h	85,575.1	+0.087%	$2.95B	$5.02B	150x	as long as short
HTX BTC-USDT	+0.0071%	8h	85,501.8	+0.002%	$2.26B	$933.1M	200x	as long as short
Injective BTC/USDC PERP	+0.0079%	1h	85,617	+0.136%	$340K	$26.9M	52x	as long as short
Aevo BTC-PERP	+0.0080%	1h	85,494.2	−0.007%	$2.4M	$1.7M	20x	as long as short
SunX BTC-USDTshort	+0.0084%	8h	85,517.4	+0.020%	$2.9M	$6.1M	100x
MEXC BTC_USDT	+0.0087%	8h	85,583.4	+0.097%	$5.04B	$5.61B	500x	as long as short
Binance BTCUSDT	+0.0087%	8h	85,574.7	+0.087%	$9.33B	$23.91B	150x	as long as short
Phemex BTCUSDT	+0.0091%	8h	85,511.7	+0.013%	$148.2M	$478.5M	150x	as long as short
Lighter BTC	+0.0096%	1h	85,578.7	+0.092%	$169.8M	$987.5M	50x	as long as short
Lighter RH BTC	+0.0096%	1h	85,580.1	+0.093%	$23.9M	$147.9M	50x	as long as short
Popdex BTCUSDT	+0.0096%	1h	85,541	+0.047%	$8.4M	$52.0M	100x	as long as short
Paradex BTC-USD-PERP	+0.0099%	8h	85,620.2	+0.140%	$3.8M	$8.3M	50x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	85,546	+0.053%	$203K	$7.7M	50x	as long as short
Hyperliquid BTC	+0.0100%	1h	85,637	+0.160%	$3.77B	$4.94B	40x	as long as short
Pacifica BTC	+0.0100%	1h	85,608.8	+0.127%	$40.1M	$571.1M	50x	as long as short
Bybit BTCUSDT	+0.0100%	8h	85,582.3	+0.096%	$5.33B	$9.59B	150x	as long as short
OKX BTC-USDT-SWAP	+0.0100%	8h	85,586.1	+0.100%	$2.56B	$12.11B	100x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	85,562	+0.072%	$3.9M	$17.9M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	85,542.6	+0.049%	$7.2M	$97.1M	40x	as long as short
Bulk BTC-USD	+0.0100%	1h	85,562.7	+0.073%	$616.1M	$358.9M	40x	as long as short
Gate BTC_USDT	+0.0100%	8h	85,584.3	+0.098%	$5.55B	$10.46B	200x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	85,518.2	+0.021%	$35.0M	$171.7M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	85,503.7	+0.004%	$154.4M	$549.8M	—	as long as short
edgeX BTCUSDC	+0.0100%	4h	85,579.7	+0.093%	$278.9M	$926.5M	100x	as long as short
GRVT BTC_USDT_Perp	+0.0100%	8h	85,591.1	+0.106%	$214.8M	$164.1M	50x	as long as short
ApeX Omni BTCUSDT	+0.0100%	1h	85,603.5	+0.121%	$140.0M	$316.2M	100x	as long as short
StandX BTC-USD	+0.0100%	1h	85,631	+0.153%	$30.3M	$211.0M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	85,610	+0.128%	—	$11.8M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	85,528	+0.032%	$11.0M	$14.1M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	85,525	+0.029%	$188K	$3.3M	20x	as long as short
Orderly PERP_BTC_USDClong	+0.0100%	8h	85,500.4	long leg	$2.4M	$8.8M	100x
Bluefin BTC-PERP	+0.0100%	1h	85,540.9	+0.047%	$196K	$721K	40x	as long as short
Derive BTC-PERP	+0.0100%	1h	85,497.1	−0.004%	$29.9M	$52.5M	15x	as long as short
SoDEX BTC-USD	+0.0100%	1h	85,500	0.000%	$59.9M	$336.2M	40x	as long as short
Extended BTC-USD	+0.0104%	1h	85,558.6	+0.068%	$44.1M	$227.3M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0056%	1h	85,664.8	+0.192%	—	$106.0M	500x	as long as short
Coinbase International BTC-PERP-INTX	+0.0112%	1h	85,548.4	+0.056%	$130.8M	$5.08B	50x	as long as short
RISEx BTC/USDC	+0.0120%	1h	85,607.3	+0.125%	$8.3M	$42.3M	25x	as long as short
Kraken Futures PF_XBTUSD	+0.0139%	1h	85,531.3	+0.036%	$187.6M	$948.0M	100x	as long as short
Aftermath Perps BTCUSD	+0.0195%	1h	85,571.8	+0.084%	$78K	$219K	20x	as long as short
Hibachi BTC/USDT-P	+0.0200%	1h	85,675.7	+0.205%	$704K	$7.9M	30x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0203% / S −0.0180%	1h	85,525.7	+0.030%	$13.6M	—	200x	as long as short
Kalshi KXBTCPERP	+0.0212%	8h	85,576	+0.088%	$10.6M	$760.4M	6.4x	as long as short
Perpl BTC	+0.0447%	43m	85,587	+0.101%	$522K	$19.5M	6.7x	as long as short