BTC

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0096%/8h= −10.5% APRnext payment −$0.12 per $10,000 · paid last 24h −0.016%

Price spread now: gTrade (Gains Network) against SoDEX+0.019%66s7-day average +0.017% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$160.162% of the position

Long on SoDEX Short on gTrade (Gains Network)

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.071%−$7 on $10k

Price spread, last 4 days (all we have)+0.125%+$12 · spread now +0.019%, 7d avg +0.017%

Together, before fees+0.053%+$5 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.017%, so right now this pair is about funding alone: −$3 a day on $10k at the current rate. The two prices were read 66 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	SoDEX BTC-USD	86,167	0.0100	pay 0.0013% / 1h	1m 24s	$60.3M	$257.8M	40x
Short	gTrade (Gains Network) BTC/USD	86,183	L +0.0004% / S −0.0004%	get 0.0001% / 1h	1m 24s	$36.9M	—	200x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

gTrade (Gains Network) against SoDEX. 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 SoDEXbpFee gTrade (Gains Network)bpOrdersPrice spread, now +0.019%Rate

Funding earned: −$20.1
Price spread: +0.019% → +0.017%: $0.15
Slippage, 4 orders: −$1.15
Fee SoDEX: 4 bp × 2 orders: −$8
Fee gTrade (Gains Network): 3.5 bp × 2 orders: −$7
Net: −$36.1
Costs to cover: 0.162%
Break-even: never at this rate

Slippage from SoDEX: live order book, 3 min ago; gTrade (Gains Network): virtual book (oracle venue), 28 min ago.

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 SoDEX live order book, 3 min ago	0.06 bp	4.1 bp −$4	4.1 bp −$41	5.1 bp −$510	43.0 bp −$21.5K
Sell gTrade (Gains Network) virtual book (oracle venue), 28 min ago	0.51 bp	4.0 bp −$4	4.1 bp −$41	4.5 bp −$446	6.4 bp −$3,181

BTC on 55 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
Bluefin BTC-PERP	−0.0187%	1h	86,215.9	+0.057%	$196K	$660K	40x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	86,184	+0.020%	$8K	$2K	50x	as long as short
BloFin BTC-USDT	−0.0020%	8h	86,210.2	+0.050%	$423.4M	$623.5M	150x	as long as short
01 Exchange BTCUSD	−0.0016%	1h	86,204.7	+0.044%	$360K	$2.1M	50x	as long as short
Injective BTC/USDC PERP	−0.0006%	1h	86,086	−0.094%	$379K	$28.4M	52x	as long as short
gTrade (Gains Network) BTC/USDshort	L +0.0004% / S −0.0004%	1h	86,183	+0.019%	$36.9M	—	200x
dYdX BTC-USD	+0.0033%	1h	86,197.2	+0.035%	$16.9M	$17.6M	50x	as long as short
KuCoin XBTUSDTM	+0.0034%	8h	86,203.5	+0.042%	$938.2M	$667.1M	125x	as long as short
Bybit BTCUSDT	+0.0047%	8h	86,164	−0.004%	$5.11B	$9.02B	150x	as long as short
Aster BTCUSDT	+0.0049%	8h	86,178.6	+0.013%	$504.4M	$972.7M	200x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX BTC-USDC	+0.0058%	8h	86,164.3	−0.003%	—	$16.8M	—	as long as short
Phemex BTCUSDT	+0.0066%	8h	86,161.1	−0.007%	$167.9M	$498.0M	150x	as long as short
Kraken Futures PF_XBTUSD	+0.0068%	1h	86,180.1	+0.015%	$189.3M	$866.6M	100x	as long as short
Phoenix BTC	+0.0075%	1h	86,213	+0.053%	$2.3M	$10.4M	40x	as long as short
Lighter BTC	+0.0096%	1h	86,215.1	+0.056%	$173.7M	$969.8M	50x	as long as short
Lighter RH BTC	+0.0096%	1h	86,222.1	+0.064%	$23.4M	$137.9M	50x	as long as short
Popdex BTCUSDT	+0.0096%	1h	86,205	+0.044%	$8.8M	$52.4M	100x	as long as short
Aevo BTC-PERP	+0.0096%	1h	86,163.1	−0.005%	$2.4M	$6.7M	20x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	86,180	+0.015%	$224K	$8.2M	50x	as long as short
Paradex BTC-USD-PERP	+0.0100%	8h	86,242.7	+0.088%	$6.1M	$8.6M	50x	as long as short
Nado BTC-PERP	+0.0100%	1h	86,200	+0.038%	$21.9M	$210.3M	50x	as long as short
Pacifica BTC	+0.0100%	1h	86,241.2	+0.086%	$40.3M	$585.4M	50x	as long as short
Binance BTCUSDT	+0.0100%	8h	86,185.2	+0.021%	$9.47B	$23.03B	150x	as long as short
OKX BTC-USDT-SWAP	+0.0100%	8h	86,167.8	+0.001%	$2.62B	$10.76B	100x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	86,197	+0.035%	$4.0M	$16.4M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	86,241.7	+0.087%	$4.6M	$93.5M	40x	as long as short
Bulk BTC-USD	+0.0100%	1h	86,176.9	+0.011%	$711.8M	$175.1M	40x	as long as short
Gate BTC_USDT	+0.0100%	8h	86,184.9	+0.021%	$5.47B	$10.33B	200x	as long as short
MEXC BTC_USDT	+0.0100%	8h	86,183.8	+0.019%	$5.09B	$5.92B	500x	as long as short
Bitget BTCUSDT	+0.0100%	8h	86,163.6	−0.004%	$2.99B	$4.53B	150x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	86,160.6	−0.007%	$37.6M	$187.6M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	86,275.4	+0.126%	$158.2M	$510.0M	—	as long as short
edgeX BTCUSDC	+0.0100%	4h	86,267.1	+0.116%	$289.9M	$986.6M	100x	as long as short
GRVT BTC_USDT_Perp	+0.0100%	8h	86,243.6	+0.089%	$216.7M	$143.1M	50x	as long as short
ApeX Omni BTCUSDT	+0.0100%	1h	86,270.8	+0.120%	$137.3M	$302.2M	100x	as long as short
StandX BTC-USD	+0.0100%	1h	86,180.5	+0.016%	$30.3M	$212.6M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	86,265.3	+0.114%	—	$10.4M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	86,194	+0.031%	$11.0M	$13.5M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	86,183	+0.019%	$207K	$3.3M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	86,177.5	+0.012%	$2.6M	$9.5M	100x	as long as short
SunX BTC-USDT	+0.0100%	8h	86,169.2	+0.003%	$3.2M	$7.0M	100x	as long as short
SoDEX BTC-USDlong	+0.0100%	1h	86,167	long leg	$60.3M	$257.8M	40x
HTX BTC-USDT	+0.0100%	8h	86,170.7	+0.004%	$2.28B	$909.6M	200x	as long as short
Extended BTC-USD	+0.0104%	1h	86,136.5	−0.035%	$46.4M	$219.8M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0048%	1h	86,187.1	+0.023%	—	$93.4M	500x	as long as short
Coinbase International BTC-PERP-INTX	+0.0112%	1h	86,207.1	+0.047%	$112.7M	$5.27B	50x	as long as short
Hyperliquid BTC	+0.0136%	1h	86,267	+0.116%	$3.88B	$4.74B	40x	as long as short
Reya BTCRUSDPERP	+0.0154%	1h	86,150.8	−0.019%	$6.6M	$132.2M	40x	as long as short
Kalshi KXBTCPERP	+0.0186%	8h	86,211	+0.051%	$11.1M	$725.9M	6.4x	as long as short
RISEx BTC/USDC	+0.0194%	1h	86,253.2	+0.100%	$9.0M	$40.7M	25x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0200% / S −0.0185%	1h	86,193.4	+0.031%	$13.3M	—	200x	as long as short
Deribit BTC-PERPETUAL	+0.0206%	1h	86,222.3	+0.064%	$837.0M	$1.61B	50x	as long as short
Hibachi BTC/USDT-P	+0.0280%	1h	86,238.3	+0.083%	$697K	$7.4M	30x	as long as short
Aftermath Perps BTCUSD	+0.0407%	1h	86,245.2	+0.091%	$82K	$252K	20x	as long as short
Perpl BTC	+0.0447%	43m	86,220.3	+0.062%	$493K	$16.5M	6.7x	as long as short