BTC

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0055%/8h= +6.0% APRnext payment +$0.07 per $10,000 · paid last 24h +0.023%

Price spread now: GMX against Popdex+0.116%49s7-day average +0.035% · you sell dearer than you buy

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

Long on Popdex Short on GMX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.069%+$7 on $10k

Price spread, last 4 days (all we have)−0.107%−$11 · spread now +0.116%, 7d avg +0.035%

Together, before fees−0.039%−$4 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and GMX is 0.081% dearer against Popdex than usual: you sell high and buy low: +$8 more if the spread goes back to its 7-day average of +0.035%. The two prices were read 49 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Popdex BTCUSDT	85,373	0.0096	pay 0.0012% / 1h	56m 30s	$8.4M	$55.2M	100x
Short	GMX BTC/USD [WBTC.b-USDC]	85,472	L +0.0176% / S −0.0151%	get 0.0019% / 1h	56m 30s	$13.0M	—	200x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against Popdex. 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 PopdexbpFee GMXbpOrdersPrice spread, now +0.116%Rate

Funding earned: $11.54
Price spread: +0.116% → +0.035%: $8.06
Slippage, 4 orders: no order book: not counted
Fee Popdex: 3.2 bp × 2 orders: −$6.4
Fee GMX: 6 bp × 2 orders: −$12
Net: $1.21
Costs to cover: 0.184%
Break-even: 6.3 days

Slippage unknown: Popdex: live order book, 3 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 Popdex live order book, 3 min ago	0.06 bp	3.5 bp −$3	3.5 bp −$35	3.7 bp −$375	5.2 bp −$2,619
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
Phoenix BTC	−0.0140%	1h	85,413	+0.047%	$2.1M	$10.4M	40x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	85,374	+0.001%	$8K	$3K	50x	as long as short
KuCoin XBTUSDTM	−0.0052%	8h	85,375.7	+0.003%	$920.2M	$758.5M	125x	as long as short
BloFin BTC-USDT	−0.0031%	8h	85,453.7	+0.095%	$422.3M	$676.6M	150x	as long as short
01 Exchange BTCUSD	−0.0016%	1h	85,376	+0.004%	$381K	$2.3M	50x	as long as short
Aster BTCUSDT	−0.0011%	8h	85,370	−0.003%	$513.9M	$1.10B	200x	as long as short
dYdX BTC-USD	0.0000%	1h	85,409.1	+0.042%	$16.8M	$21.2M	50x	as long as short
Perpl BTC	0.0000%	43m	85,370.2	−0.003%	$539K	$18.8M	6.7x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0004% / S −0.0004%	1h	85,475.1	+0.120%	$36.5M	—	200x	as long as short
Injective BTC/USDC PERP	+0.0023%	1h	85,449	+0.089%	$339K	$26.8M	52x	as long as short

Show all 56 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado BTC-PERP	+0.0045%	1h	85,383.1	+0.012%	$24.3M	$223.2M	50x	as long as short
Kraken Futures PF_XBTUSD	+0.0056%	1h	85,476.4	+0.121%	$187.7M	$956.5M	100x	as long as short
BingX BTC-USDC	+0.0063%	8h	85,354.8	−0.021%	—	$17.3M	—	as long as short
Phemex BTCUSDT	+0.0067%	8h	85,453.6	+0.094%	$149.2M	$498.7M	150x	as long as short
Bitget BTCUSDT	+0.0080%	8h	85,373	0.000%	$2.95B	$5.14B	150x	as long as short
Aevo BTC-PERP	+0.0088%	1h	85,447.8	+0.088%	$2.9M	$5.9M	20x	as long as short
MEXC BTC_USDT	+0.0089%	8h	85,383.1	+0.012%	$5.07B	$5.66B	500x	as long as short
Binance BTCUSDT	+0.0090%	8h	85,372.7	0.000%	$9.44B	$24.66B	150x	as long as short
Lighter BTC	+0.0096%	1h	85,402.6	+0.035%	$171.8M	$1.01B	50x	as long as short
Lighter RH BTC	+0.0096%	1h	85,400.6	+0.032%	$23.9M	$147.2M	50x	as long as short
Popdex BTCUSDTlong	+0.0096%	1h	85,373	long leg	$8.4M	$55.2M	100x
Coinbase International BTC-PERP-INTX	+0.0096%	1h	85,488	+0.135%	$117.3M	$5.28B	50x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	85,349	−0.028%	$239K	$8.5M	50x	as long as short
Paradex BTC-USD-PERP	+0.0100%	8h	85,415	+0.049%	$5.6M	$9.4M	50x	as long as short
Hyperliquid BTC	+0.0100%	1h	85,450.5	+0.091%	$3.78B	$5.03B	40x	as long as short
Pacifica BTC	+0.0100%	1h	85,424.2	+0.060%	$40.1M	$593.1M	50x	as long as short
Bybit BTCUSDT	+0.0100%	8h	85,367.3	−0.007%	$5.17B	$9.88B	150x	as long as short
OKX BTC-USDT-SWAP	+0.0100%	8h	85,375.8	+0.003%	$2.59B	$12.12B	100x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	85,420	+0.055%	$3.8M	$17.6M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	85,379.4	+0.007%	$4.7M	$99.3M	40x	as long as short
Gate BTC_USDT	+0.0100%	8h	85,372	−0.001%	$5.54B	$10.75B	200x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	85,455	+0.096%	$36.6M	$175.9M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	85,397.6	+0.029%	$154.3M	$564.6M	—	as long as short
edgeX BTCUSDC	+0.0100%	4h	85,391.5	+0.022%	$279.0M	$933.7M	100x	as long as short
GRVT BTC_USDT_Perp	+0.0100%	8h	85,417.2	+0.052%	$214.5M	$169.0M	50x	as long as short
ApeX Omni BTCUSDT	+0.0100%	1h	85,428.6	+0.065%	$139.6M	$316.1M	100x	as long as short
StandX BTC-USD	+0.0100%	1h	85,439.9	+0.078%	$30.1M	$206.2M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	85,450.1	+0.090%	—	$10.9M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	85,373	0.000%	$11.1M	$14.4M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	85,462	+0.104%	$203K	$3.3M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	85,458	+0.100%	$2.5M	$8.8M	100x	as long as short
Bluefin BTC-PERP	+0.0100%	1h	85,498.2	+0.147%	$207K	$738K	40x	as long as short
Derive BTC-PERP	+0.0100%	1h	85,433.3	+0.071%	$30.0M	$50.2M	15x	as long as short
SunX BTC-USDT	+0.0100%	8h	85,441.5	+0.080%	$2.9M	$6.1M	100x	as long as short
SoDEX BTC-USD	+0.0100%	1h	85,454	+0.095%	$59.9M	$335.9M	40x	as long as short
HTX BTC-USDT	+0.0100%	8h	85,449.4	+0.089%	$2.26B	$950.5M	200x	as long as short
Bulk BTC-USD	+0.0100%	1h	85,404.3	+0.037%	$678.7M	$662.5M	40x	as long as short
Extended BTC-USD	+0.0104%	1h	85,338.3	−0.041%	$45.8M	$236.0M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0048%	1h	85,418.1	+0.053%	—	$106.8M	500x	as long as short
Reya BTCRUSDPERP	+0.0108%	1h	85,368.7	−0.005%	$6.6M	$147.3M	40x	as long as short
Deribit BTC-PERPETUAL	+0.0133%	1h	85,497.6	+0.146%	$872.3M	$1.60B	50x	as long as short
Kalshi KXBTCPERP	+0.0166%	8h	85,390	+0.020%	$11.4M	$751.0M	6.4x	as long as short
GMX BTC/USD [WBTC.b-USDC]short	L +0.0176% / S −0.0151%	1h	85,472	+0.116%	$13.0M	—	200x
Hibachi BTC/USDT-P	+0.0232%	1h	85,501.3	+0.150%	$695K	$7.9M	30x	as long as short
Aftermath Perps BTCUSD	+0.0244%	1h	85,451.1	+0.091%	$78K	$225K	20x	as long as short
RISEx BTC/USDC	+0.0257%	1h	85,409.3	+0.042%	$8.7M	$43.0M	25x	as long as short