Funding you earn now, next payment 22:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.007%
Price spread now: Derive against Polymarket Perps−0.030%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−0.093%−$9 on $10k
+Price spread, last 3 days (all we have)−0.106%−$11 · spread now −0.030%, 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 0.026% cheaper against Polymarket Perps 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 | Polymarket Perps BTC-USD | 86,731 | 0.0100 | pay 0.0013% / 1h | 52m 44s | $11.1M | $13.7M | 50x |
| Short | Derive BTC-PERP | 86,704.9 | 0.0100 | get 0.0013% / 1h | 52m 44s | $30.0M | $61.5M | 15x |
Polymarket Perps BTC-USD
Derive BTC-PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Derive against Polymarket Perps. 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
- Price spread: −0.030% → −0.004%
- −$2.65
- Slippage, 4 orders
- no order book: not counted
- Fee Polymarket Perps: 4 bp × 2 orders
- −$8
- Fee Derive: 3 bp × 2 orders
- −$6
- Net
- −$16.65
- Costs to cover
- 0.140%
- Break-even
- never at this rate
Slippage unknown: Polymarket Perps: 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 Polymarket Perps live order book, 1 min ago | 0.06 bp | 4.3 bp −$4 | 4.9 bp −$49 | 7.5 bp −$747 | 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 | |
|---|---|---|---|---|---|---|---|---|
| Perpl BTC | −0.0335% | 43m | 86,698.3 | −0.038% | $425K | $25.4M | 6.7x | as long as short |
| Aftermath Perps BTCUSD | −0.0190% | 1h | 86,813.6 | +0.095% | $85K | $188K | 20x | as long as short |
| Phoenix BTC | −0.0103% | 1h | 86,701 | −0.035% | $2.2M | $12.4M | 40x | as long as short |
| Hotstuff BTC-PERP | −0.0080% | 1h | 86,676 | −0.063% | $9K | $3K | 50x | as long as short |
| dYdX BTC-USD | −0.0073% | 1h | 86,696.3 | −0.040% | $18.1M | $19.9M | 50x | as long as short |
| KuCoin XBTUSDTM | −0.0002% | 8h | 86,685.1 | −0.053% | $845.8M | $708.4M | 125x | as long as short |
| Bluefin BTC-PERP | −0.0001% | 1h | 86,682.8 | −0.056% | $160K | $575K | 40x | as long as short |
| 01 Exchange BTCUSD | 0.0000% | 1h | 86,735 | +0.005% | $361K | $2.5M | 50x | as long as short |
| Kalshi KXBTCPERP | 0.0000% | 8h | 86,746 | +0.017% | $8.8M | $725.0M | 6.4x | as long as short |
| gTrade (Gains Network) BTC/USD | L +0.0005% / S −0.0005% | 1h | 86,743.2 | +0.014% | $36.7M | — | 200x | as long as short |
Perpl BTC
Aftermath Perps BTCUSD
Phoenix BTC
Hotstuff BTC-PERP
dYdX BTC-USD
KuCoin XBTUSDTM
Bluefin BTC-PERP
01 Exchange BTCUSD
Kalshi KXBTCPERP
gTrade (Gains Network) BTC/USDShow all 56 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Aster BTCUSDT | +0.0015% | 8h | 86,654.2 | −0.089% | $505.9M | $1.16B | 200x | as long as short |
| BingX BTC-USDT | +0.0019% | 8h | 86,658.2 | −0.084% | — | $1.59B | — | as long as short |
| Phemex BTCUSDT | +0.0021% | 8h | 86,698.8 | −0.037% | $149.6M | $469.3M | 150x | as long as short |
| Reya BTCRUSDPERP | +0.0021% | 1h | 86,718.9 | −0.014% | $6.8M | $143.9M | 40x | as long as short |
| Bitget BTCUSDT | +0.0026% | 8h | 86,673 | −0.067% | $2.95B | $5.08B | 150x | as long as short |
| MEXC BTC_USDT | +0.0046% | 8h | 86,650.9 | −0.092% | $5.21B | $5.63B | 500x | as long as short |
| Binance BTCUSDT | +0.0047% | 8h | 86,672.4 | −0.068% | $9.45B | $24.34B | 150x | as long as short |
| Aevo BTC-PERP | +0.0048% | 1h | 86,709.2 | −0.025% | $2.4M | $1.3M | 20x | as long as short |
| Injective BTC/USDC PERP | +0.0049% | 1h | 86,732 | +0.001% | $315K | $26.8M | 52x | as long as short |
| OKX BTC-USDT-SWAP | +0.0058% | 8h | 86,675.2 | −0.064% | $2.58B | $12.72B | 100x | as long as short |
| Gate BTC_USDT | +0.0061% | 8h | 86,658.4 | −0.084% | $5.86B | $10.55B | 200x | as long as short |
| RISEx BTC/USDC | +0.0063% | 1h | 86,740.7 | +0.011% | $9.0M | $42.1M | 25x | as long as short |
| Deribit BTC-PERPETUAL | +0.0069% | 1h | 86,747 | +0.018% | $922.1M | $1.38B | 50x | as long as short |
| Bybit BTCUSDT | +0.0077% | 8h | 86,667.9 | −0.073% | $5.28B | $9.69B | 150x | as long as short |
| Variational Omni BTC | +0.0088% | 8h | 86,792.9 | +0.071% | $161.2M | $563.4M | — | as long as short |
| GRVT BTC_USDT_Perp | +0.0095% | 8h | 86,798 | +0.077% | $217.8M | $191.2M | 50x | as long as short |
| Lighter BTC | +0.0096% | 1h | 86,683 | −0.055% | $172.3M | $1.00B | 50x | as long as short |
| Lighter RH BTC | +0.0096% | 1h | 86,694.6 | −0.042% | $24.1M | $152.7M | 50x | as long as short |
| Popdex BTCUSDT | +0.0096% | 1h | 86,705 | −0.030% | $8.5M | $52.1M | 100x | as long as short |
| Orderly PERP_BTC_USDC | +0.0098% | 8h | 86,715.4 | −0.018% | $2.5M | $8.4M | 100x | as long as short |
| Paradex BTC-USD-PERP | +0.0100% | 8h | 86,738.5 | +0.009% | $4.8M | $8.2M | 50x | as long as short |
| Katana Perps BTC-USD | +0.0100% | 8h | 86,705 | −0.030% | $202K | $6.8M | 50x | as long as short |
| Nado BTC-PERP | +0.0100% | 1h | 86,711 | −0.023% | $21.9M | $237.9M | 50x | as long as short |
| Hyperliquid BTC | +0.0100% | 1h | 86,755 | +0.028% | $3.85B | $5.09B | 40x | as long as short |
| Pacifica BTC | +0.0100% | 1h | 86,719.5 | −0.013% | $41.6M | $484.5M | 50x | as long as short |
| Ondo Perps BTC-USD.P | +0.0100% | 1h | 86,701 | −0.035% | $3.9M | $18.8M | 25x | as long as short |
| Arcus BTC-USD | +0.0100% | 1h | 86,800.8 | +0.080% | $7.6M | $95.4M | 40x | as long as short |
| Bulk BTC-USD | +0.0100% | 1h | 86,919.5 | +0.217% | $573.8M | $23.8M | 40x | as long as short |
| Backpack BTC_USDC_PERP | +0.0100% | 1h | 86,700.6 | −0.035% | $38.2M | $148.1M | 75x | as long as short |
| edgeX BTCUSDC | +0.0100% | 4h | 86,752.1 | +0.024% | $280.2M | $945.8M | 100x | as long as short |
| ApeX Omni BTCUSDT | +0.0100% | 1h | 86,805.9 | +0.086% | $142.0M | $322.7M | 100x | as long as short |
| StandX BTC-USD | +0.0100% | 1h | 86,699 | −0.037% | $30.8M | $205.7M | 40x | as long as short |
| Vest BTC-PERP | +0.0100% | 1h | 86,780.3 | +0.057% | — | $11.6M | 50x | as long as short |
| Polymarket Perps BTC-USDlong | +0.0100% | 1h | 86,731 | long leg | $11.1M | $13.7M | 50x | |
| Bullet BTC-USD | +0.0100% | 1h | 86,722.6 | −0.010% | $201K | $3.4M | 20x | as long as short |
| Derive BTC-PERPshort | +0.0100% | 1h | 86,704.9 | −0.030% | $30.0M | $61.5M | 15x | |
| SunX BTC-USDT | +0.0100% | 8h | 86,705.2 | −0.030% | $3.4M | $5.6M | 100x | as long as short |
| SoDEX BTC-USD | +0.0100% | 1h | 86,696 | −0.040% | $60.5M | $336.5M | 40x | as long as short |
| HTX BTC-USDT | +0.0100% | 8h | 86,704.3 | −0.031% | $2.30B | $954.3M | 200x | as long as short |
| Extended BTC-USD | +0.0104% | 1h | 86,678.4 | −0.061% | $46.2M | $228.4M | 50x | as long as short |
| Jupiter Perps WBTC-PERP | L +0.0104% / S +0.0048% | 1h | 86,739.7 | +0.010% | — | $98.1M | 500x | as long as short |
| Kraken Futures PF_XBTUSD | +0.0116% | 1h | 86,738.2 | +0.008% | $192.7M | $927.3M | 100x | as long as short |
| Coinbase International BTC-PERP-INTX | +0.0120% | 1h | 86,750.2 | +0.022% | $132.2M | $5.93B | 50x | as long as short |
| BloFin BTC-USDT | +0.0167% | 8h | 86,696.6 | −0.040% | $419.6M | $641.9M | 150x | as long as short |
| GMX BTC/USD [WBTC.b-USDC] | L +0.0181% / S −0.0200% | 1h | 86,733.9 | +0.003% | $15.4M | — | 200x | as long as short |
| Hibachi BTC/USDT-P | +0.0200% | 1h | 86,708.9 | −0.025% | $748K | $7.0M | 30x | as long as short |
Aster BTCUSDT
BingX BTC-USDT
Phemex BTCUSDT
Reya BTCRUSDPERP
Bitget BTCUSDT
MEXC BTC_USDT
Binance BTCUSDT
Aevo BTC-PERP
Injective BTC/USDC PERP
OKX BTC-USDT-SWAP
Gate BTC_USDT
RISEx BTC/USDC
Deribit BTC-PERPETUAL
Bybit BTCUSDT
Variational Omni BTC
GRVT BTC_USDT_Perp
Lighter BTC
Lighter RH BTC
Popdex BTCUSDT
Orderly PERP_BTC_USDC
Paradex BTC-USD-PERP
Katana Perps BTC-USD
Nado BTC-PERP
Hyperliquid BTC
Pacifica BTC
Ondo Perps BTC-USD.P
Arcus BTC-USD
Bulk BTC-USD
Backpack BTC_USDC_PERP
edgeX BTCUSDC
ApeX Omni BTCUSDT
StandX BTC-USD
Vest BTC-PERP
Bullet BTC-USD
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
BloFin BTC-USDT
GMX BTC/USD [WBTC.b-USDC]
Hibachi BTC/USDT-P