Funding you earn now, next payment 23:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h +0.032%
Price spread now: Deribit against Variational Omni+0.023%7-day average +0.061% · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 3 days (all we have)+0.024%+$2 on $10k
+Price spread, last 3 days (all we have)+0.016%+$2 · spread now +0.023%, 7d avg +0.061%
=Together, before fees+0.040%+ Points / potential airdropVariational Omni: Active · farm board+$4 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and Deribit is 0.038% cheaper against Variational Omni than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of +0.061%). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Variational Omni BTC | 86,696.3 | 0.0100 | pay 0.0100% / 8h | 1h 39m | $156.8M | $565.9M | — |
| Short | Deribit BTC-PERPETUAL | 86,716 | 0 | get 0.0000% / 1h | 39m 42s | $925.8M | $1.47B | 50x |
Variational Omni BTC
Deribit BTC-PERPETUALFunding history
latest
Range statsloading…
Price spread between the two exchanges
Deribit against Variational Omni. 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
- −$21
- Price spread: +0.023% → +0.061%
- −$3.83
- Slippage, 4 orders
- no order book: not counted
- Fee Variational Omni: 0 bp × 2 orders
- $0
- Fee Deribit: 3.5 bp × 2 orders
- −$7
- Net
- −$31.83
- Costs to cover
- 0.070%
- Break-even
- never at this rate
Slippage unknown: Variational Omni: RFQ quote, 5 min ago; Deribit: live order book, 4 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 Variational Omni RFQ quote, 5 min ago | 0.55 bp | doesn't fit | 0.5 bp −$5 | 0.5 bp −$55 | doesn't fit |
| Sell Deribit live order book, 4 min ago | 0.03 bp | 3.5 bp −$4 | 3.6 bp −$36 | 6.1 bp −$606 | 12.0 bp −$6,011 |
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 | |
|---|---|---|---|---|---|---|---|---|
| Bluefin BTC-PERP | −0.0943% | 1h | 86,703.5 | +0.008% | $141K | $618K | 40x | as long as short |
| Aftermath Perps BTCUSD | −0.0167% | 1h | 86,646.7 | −0.057% | $83K | $206K | 20x | as long as short |
| Phoenix BTC | −0.0159% | 1h | 86,603 | −0.108% | $2.2M | $11.8M | 40x | as long as short |
| Hotstuff BTC-PERP | −0.0080% | 1h | 86,631 | −0.075% | $9K | $3K | 50x | as long as short |
| dYdX BTC-USD | −0.0011% | 1h | 86,679.3 | −0.020% | $17.5M | $20.3M | 50x | as long as short |
| 01 Exchange BTCUSD | −0.0008% | 1h | 86,651 | −0.052% | $359K | $2.4M | 50x | as long as short |
| Aster BTCUSDT | −0.0007% | 8h | 86,652.3 | −0.051% | $505.8M | $1.15B | 200x | as long as short |
| Perpl BTC | 0.0000% | 43m | 86,695.7 | −0.001% | $419K | $24.0M | 6.7x | as long as short |
| Deribit BTC-PERPETUALshort | 0.0000% | 1h | 86,716 | +0.023% | $925.8M | $1.47B | 50x | |
| KuCoin XBTUSDTM | +0.0001% | 8h | 86,619 | −0.089% | $852.0M | $707.6M | 125x | as long as short |
Bluefin BTC-PERP
Aftermath Perps BTCUSD
Phoenix BTC
Hotstuff BTC-PERP
dYdX BTC-USD
01 Exchange BTCUSD
Aster BTCUSDT
Perpl BTC
KuCoin XBTUSDTMShow all 56 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| gTrade (Gains Network) BTC/USD | L +0.0005% / S −0.0004% | 1h | 86,705.9 | +0.011% | $36.9M | — | 200x | as long as short |
| RISEx BTC/USDC | +0.0006% | 1h | 86,632.4 | −0.074% | $8.6M | $43.2M | 25x | as long as short |
| Phemex BTCUSDT | +0.0021% | 8h | 86,685.6 | −0.012% | $150.1M | $473.4M | 150x | as long as short |
| Reya BTCRUSDPERP | +0.0022% | 1h | 86,677.8 | −0.021% | $6.7M | $144.8M | 40x | as long as short |
| Injective BTC/USDC PERP | +0.0024% | 1h | 86,559 | −0.158% | $315K | $26.8M | 52x | as long as short |
| BingX BTC-USDT | +0.0032% | 8h | 86,630.7 | −0.076% | — | $1.59B | — | as long as short |
| Hibachi BTC/USDT-P | +0.0032% | 1h | 86,712.1 | +0.018% | $733K | $8.2M | 30x | as long as short |
| Bitget BTCUSDT | +0.0042% | 8h | 86,629.7 | −0.077% | $2.96B | $5.07B | 150x | as long as short |
| MEXC BTC_USDT | +0.0061% | 8h | 86,634 | −0.072% | $5.19B | $5.64B | 500x | as long as short |
| Binance BTCUSDT | +0.0061% | 8h | 86,634.7 | −0.071% | $9.43B | $24.30B | 150x | as long as short |
| Aevo BTC-PERP | +0.0064% | 1h | 86,673.2 | −0.027% | $2.4M | $1.3M | 20x | as long as short |
| Gate BTC_USDT | +0.0080% | 8h | 86,625.3 | −0.082% | $5.85B | $10.64B | 200x | as long as short |
| Bybit BTCUSDT | +0.0090% | 8h | 86,630.8 | −0.075% | $5.28B | $9.69B | 150x | as long as short |
| Lighter BTC | +0.0096% | 1h | 86,647.3 | −0.056% | $172.1M | $1.00B | 50x | as long as short |
| Lighter RH BTC | +0.0096% | 1h | 86,675.5 | −0.024% | $24.1M | $151.8M | 50x | as long as short |
| Popdex BTCUSDT | +0.0096% | 1h | 86,630 | −0.076% | $8.5M | $52.2M | 100x | as long as short |
| Katana Perps BTC-USD | +0.0100% | 8h | 86,616 | −0.093% | $206K | $6.9M | 50x | as long as short |
| Paradex BTC-USD-PERP | +0.0100% | 8h | 86,695.7 | −0.001% | $4.8M | $8.4M | 50x | as long as short |
| Nado BTC-PERP | +0.0100% | 1h | 86,679.3 | −0.020% | $21.9M | $233.3M | 50x | as long as short |
| Hyperliquid BTC | +0.0100% | 1h | 86,731 | +0.040% | $3.82B | $5.08B | 40x | as long as short |
| Pacifica BTC | +0.0100% | 1h | 86,680.1 | −0.019% | $41.1M | $505.2M | 50x | as long as short |
| OKX BTC-USDT-SWAP | +0.0100% | 8h | 86,633 | −0.073% | $2.55B | $12.70B | 100x | as long as short |
| Ondo Perps BTC-USD.P | +0.0100% | 1h | 86,632 | −0.074% | $3.9M | $18.6M | 25x | as long as short |
| Arcus BTC-USD | +0.0100% | 1h | 86,701.4 | +0.006% | $7.4M | $93.8M | 40x | as long as short |
| Bulk BTC-USD | +0.0100% | 1h | 86,703.1 | +0.008% | $573.0M | $18.8M | 40x | as long as short |
| Backpack BTC_USDC_PERP | +0.0100% | 1h | 86,678.9 | −0.020% | $38.4M | $153.1M | 75x | as long as short |
| Variational Omni BTClong | +0.0100% | 8h | 86,696.3 | long leg | $156.8M | $565.9M | — | |
| edgeX BTCUSDC | +0.0100% | 4h | 86,606.7 | −0.103% | $279.8M | $943.1M | 100x | as long as short |
| GRVT BTC_USDT_Perp | +0.0100% | 8h | 86,610.1 | −0.099% | $217.3M | $177.3M | 50x | as long as short |
| ApeX Omni BTCUSDT | +0.0100% | 1h | 86,623.7 | −0.084% | $141.6M | $323.1M | 100x | as long as short |
| StandX BTC-USD | +0.0100% | 1h | 86,664 | −0.037% | $30.7M | $203.2M | 40x | as long as short |
| Vest BTC-PERP | +0.0100% | 1h | 86,734.1 | +0.044% | — | $11.6M | 50x | as long as short |
| Polymarket Perps BTC-USD | +0.0100% | 1h | 86,687 | −0.011% | $11.1M | $13.6M | 50x | as long as short |
| Bullet BTC-USD | +0.0100% | 1h | 86,688.9 | −0.008% | $193K | $3.4M | 20x | as long as short |
| Orderly PERP_BTC_USDC | +0.0100% | 8h | 86,692.1 | −0.005% | $2.5M | $8.6M | 100x | as long as short |
| Derive BTC-PERP | +0.0100% | 1h | 86,681.8 | −0.017% | $30.1M | $61.6M | 15x | as long as short |
| SunX BTC-USDT | +0.0100% | 8h | 86,676.7 | −0.023% | $3.4M | $5.4M | 100x | as long as short |
| SoDEX BTC-USD | +0.0100% | 1h | 86,681 | −0.018% | $60.6M | $337.0M | 40x | as long as short |
| HTX BTC-USDT | +0.0100% | 8h | 86,679.7 | −0.019% | $2.30B | $963.9M | 200x | as long as short |
| Extended BTC-USD | +0.0104% | 1h | 86,611.5 | −0.098% | $46.3M | $225.1M | 50x | as long as short |
| Jupiter Perps WBTC-PERP | L +0.0104% / S +0.0048% | 1h | 86,694.6 | −0.002% | — | $98.3M | 500x | as long as short |
| Coinbase International BTC-PERP-INTX | +0.0112% | 1h | 86,722.5 | +0.030% | $131.7M | $5.73B | 50x | as long as short |
| Kraken Futures PF_XBTUSD | +0.0121% | 1h | 86,715.1 | +0.022% | $191.8M | $936.9M | 100x | as long as short |
| GMX BTC/USD [WBTC.b-USDC] | L +0.0180% / S −0.0208% | 1h | 86,701.6 | +0.006% | $15.1M | — | 200x | as long as short |
| BloFin BTC-USDT | +0.0181% | 8h | 86,665.7 | −0.035% | $415.5M | $652.4M | 150x | as long as short |
| Kalshi KXBTCPERP | +0.0193% | 8h | 86,710 | +0.016% | $9.6M | $727.2M | 6.4x | as long as short |
gTrade (Gains Network) BTC/USD
RISEx BTC/USDC
Phemex BTCUSDT
Reya BTCRUSDPERP
Injective BTC/USDC PERP
BingX BTC-USDT
Hibachi BTC/USDT-P
Bitget BTCUSDT
MEXC BTC_USDT
Binance BTCUSDT
Aevo BTC-PERP
Gate BTC_USDT
Bybit BTCUSDT
Lighter BTC
Lighter RH BTC
Popdex BTCUSDT
Katana Perps BTC-USD
Paradex BTC-USD-PERP
Nado BTC-PERP
Hyperliquid BTC
Pacifica BTC
OKX BTC-USDT-SWAP
Ondo Perps BTC-USD.P
Arcus BTC-USD
Bulk BTC-USD
Backpack BTC_USDC_PERP
edgeX BTCUSDC
GRVT BTC_USDT_Perp
ApeX Omni BTCUSDT
StandX BTC-USD
Vest BTC-PERP
Polymarket Perps BTC-USD
Bullet BTC-USD
Orderly PERP_BTC_USDC
Derive BTC-PERP
SunX BTC-USDT
SoDEX BTC-USD
HTX BTC-USDT
Extended BTC-USD
Jupiter Perps WBTC-PERP
Coinbase International BTC-PERP-INTX
Kraken Futures PF_XBTUSD
GMX BTC/USD [WBTC.b-USDC]
BloFin BTC-USDT
Kalshi KXBTCPERP