BTC

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0051%/8h= +5.6% APRnext payment +$0.06 per $10,000 · paid last 24h +0.020%

Price spread now: GMX against Polymarket Perps−0.010%7-day average +0.037% · you buy dearer than you sell

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

Long on Polymarket Perps Short on GMX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.063%+$6 on $10k

Price spread, last 4 days (all we have)+0.034%+$3 · spread now −0.010%, 7d avg +0.037%

Together, before fees+0.097%+$10 on $10k · with fees, hour by hour

Funding pays, the price is against you. GMX is 0.046% cheaper against Polymarket Perps than usual: you would sell low and buy high (spread −0.010% now, against its 7-day average of +0.037%). If the spread goes back, that is −$5 on $10k: about 3.0 days of funding at the current rate (+$2 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Polymarket Perps BTC-USD	85,250	0.0100	pay 0.0013% / 1h	37m 49s	$11.0M	$14.4M	50x
Short	GMX BTC/USD [WBTC.b-USDC]	85,241.7	L +0.0176% / S −0.0151%	get 0.0019% / 1h	37m 49s	$13.0M	—	200x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX 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 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 Polymarket PerpsbpFee GMXbpOrdersPrice spread, now −0.010%Rate

Funding earned: $10.68
Price spread: −0.010% → +0.037%: −$4.63
Slippage, 4 orders: no order book: not counted
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee GMX: 6 bp × 2 orders: −$12
Net: −$13.95
Costs to cover: 0.200%
Break-even: 16.1 days

Slippage unknown: Polymarket Perps: live order book, 1 min ago; GMX: 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	4.1 bp −$4	5.6 bp −$56	7.6 bp −$762	doesn't fit
Sell GMX no order-book sample	—	—	—	—	—

GMX: 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	−0.0112%	43m	85,242.9	−0.008%	$527K	$18.7M	6.7x	as long as short
Phoenix BTC	−0.0111%	1h	85,200	−0.059%	$2.1M	$10.4M	40x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	85,203	−0.055%	$8K	$3K	50x	as long as short
KuCoin XBTUSDTM	−0.0053%	8h	85,262.8	+0.015%	$922.4M	$763.1M	125x	as long as short
BloFin BTC-USDT	−0.0036%	8h	85,202.1	−0.056%	$420.1M	$679.3M	150x	as long as short
01 Exchange BTCUSD	−0.0032%	1h	85,242.7	−0.009%	$383K	$2.3M	50x	as long as short
Aster BTCUSDT	−0.0015%	8h	85,256.8	+0.008%	$512.6M	$1.10B	200x	as long as short
dYdX BTC-USD	+0.0001%	1h	85,238.9	−0.013%	$16.7M	$21.7M	50x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0004% / S −0.0004%	1h	85,244.4	−0.007%	$36.4M	—	200x	as long as short
Nado BTC-PERP	+0.0014%	1h	85,223.6	−0.031%	$24.5M	$222.8M	50x	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	+0.0023%	1h	85,225	−0.029%	$338K	$26.8M	52x	as long as short
SoDEX BTC-USD	+0.0051%	1h	85,240	−0.012%	$59.7M	$335.9M	40x	as long as short
Kraken Futures PF_XBTUSD	+0.0056%	1h	85,264.5	+0.017%	$187.1M	$957.0M	100x	as long as short
Bullet BTC-USD	+0.0060%	1h	85,226	−0.028%	$204K	$3.3M	20x	as long as short
BingX BTC-USDT	+0.0066%	8h	85,252.2	+0.003%	—	$1.56B	—	as long as short
Phemex BTCUSDT	+0.0073%	8h	85,238.9	−0.013%	$149.1M	$503.2M	150x	as long as short
Aevo BTC-PERP	+0.0080%	1h	85,233	−0.020%	$2.4M	$6.7M	20x	as long as short
Bitget BTCUSDT	+0.0083%	8h	85,256.8	+0.008%	$2.95B	$5.17B	150x	as long as short
MEXC BTC_USDT	+0.0084%	8h	85,270.1	+0.024%	$5.06B	$5.69B	500x	as long as short
Binance BTCUSDT	+0.0084%	8h	85,266.2	+0.019%	$9.42B	$24.82B	150x	as long as short
Lighter BTC	+0.0096%	1h	85,274.5	+0.029%	$171.3M	$1.02B	50x	as long as short
Lighter RH BTC	+0.0096%	1h	85,273	+0.027%	$23.7M	$147.8M	50x	as long as short
Popdex BTCUSDT	+0.0096%	1h	85,237	−0.015%	$8.3M	$55.6M	100x	as long as short
Coinbase International BTC-PERP-INTX	+0.0096%	1h	85,283.6	+0.039%	$117.4M	$5.33B	50x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	85,212	−0.045%	$237K	$8.5M	50x	as long as short
Paradex BTC-USD-PERP	+0.0100%	8h	85,324.4	+0.087%	$5.6M	$9.5M	50x	as long as short
Hyperliquid BTC	+0.0100%	1h	85,331	+0.095%	$3.75B	$5.06B	40x	as long as short
Pacifica BTC	+0.0100%	1h	85,290.8	+0.048%	$40.1M	$595.5M	50x	as long as short
Bybit BTCUSDT	+0.0100%	8h	85,264.8	+0.017%	$5.16B	$9.93B	150x	as long as short
OKX BTC-USDT-SWAP	+0.0100%	8h	85,276.4	+0.031%	$2.57B	$12.18B	100x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	85,228	−0.026%	$3.8M	$17.6M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	85,241.1	−0.010%	$4.6M	$99.1M	40x	as long as short
Bulk BTC-USD	+0.0100%	1h	85,324.1	+0.087%	$679.5M	$626.7M	40x	as long as short
Gate BTC_USDT	+0.0100%	8h	85,243.8	−0.007%	$5.52B	$10.87B	200x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	85,229.2	−0.024%	$36.0M	$174.6M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	85,226.6	−0.027%	$154.6M	$565.9M	—	as long as short
edgeX BTCUSDC	+0.0100%	4h	85,305.9	+0.066%	$279.2M	$939.3M	100x	as long as short
GRVT BTC_USDT_Perp	+0.0100%	8h	85,273.7	+0.028%	$214.3M	$168.8M	50x	as long as short
ApeX Omni BTCUSDT	+0.0100%	1h	85,282.7	+0.038%	$139.4M	$315.4M	100x	as long as short
StandX BTC-USD	+0.0100%	1h	85,190	−0.070%	$30.1M	$206.2M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	85,306.4	+0.066%	—	$10.9M	50x	as long as short
Polymarket Perps BTC-USDlong	+0.0100%	1h	85,250	long leg	$11.0M	$14.4M	50x
Orderly PERP_BTC_USDC	+0.0100%	8h	85,230.3	−0.023%	$2.4M	$9.1M	100x	as long as short
Bluefin BTC-PERP	+0.0100%	1h	85,275.6	+0.030%	$217K	$750K	40x	as long as short
Derive BTC-PERP	+0.0100%	1h	85,219.2	−0.036%	$30.0M	$50.4M	15x	as long as short
SunX BTC-USDT	+0.0100%	8h	85,231.4	−0.022%	$2.9M	$6.1M	100x	as long as short
HTX BTC-USDT	+0.0100%	8h	85,222.9	−0.032%	$2.26B	$954.0M	200x	as long as short
Extended BTC-USD	+0.0104%	1h	85,211.9	−0.045%	$45.5M	$237.9M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0048%	1h	85,254.4	+0.005%	—	$107.0M	500x	as long as short
Reya BTCRUSDPERP	+0.0112%	1h	85,249.2	−0.001%	$6.6M	$147.4M	40x	as long as short
Deribit BTC-PERPETUAL	+0.0145%	1h	85,286.9	+0.043%	$872.4M	$1.61B	50x	as long as short
Kalshi KXBTCPERP	+0.0174%	8h	85,273	+0.027%	$11.3M	$748.9M	6.4x	as long as short
GMX BTC/USD [WBTC.b-USDC]short	L +0.0176% / S −0.0151%	1h	85,241.7	−0.010%	$13.0M	—	200x
Hibachi BTC/USDT-P	+0.0224%	1h	85,238.2	−0.014%	$716K	$8.0M	30x	as long as short
Aftermath Perps BTCUSD	+0.0226%	1h	85,305.4	+0.065%	$78K	$225K	20x	as long as short
RISEx BTC/USDC	+0.0257%	1h	85,267.6	+0.021%	$8.7M	$43.1M	25x	as long as short