Funding you earn now, next payment 07:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.003%
Price spread now: Derive against Variational Omni−0.057%7-day average +0.011% · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 4 days (all we have)−0.022%−$2 on $10k
+Price spread, last 4 days (all we have)+0.046%+$5 · spread now −0.057%, 7d avg +0.011%
=Together, before fees+0.024%+ Points / potential airdropVariational Omni: Active · farm board+$2 on $10k · with fees, hour by hour
Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Derive is 0.068% cheaper against Variational Omni than usual: you would sell low and buy high, −$7 on $10k if it goes back to its 7-day average of +0.011%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Variational Omni BTC | 85,432.9 | 0.0100 | pay 0.0100% / 8h | 1h 04m | $156.6M | $557.5M | — |
| Short | Derive BTC-PERP | 85,383.8 | 0.0100 | get 0.0013% / 1h | 4m 07s | $30.0M | $46.1M | 15x |
Variational Omni BTC
Derive BTC-PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Derive 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
- $0
- Price spread: −0.057% → +0.011%
- −$6.84
- Slippage, 4 orders
- no order book: not counted
- Fee Variational Omni: 0 bp × 2 orders
- $0
- Fee Derive: 3 bp × 2 orders
- −$6
- Net
- −$12.84
- Costs to cover
- 0.060%
- Break-even
- never at this rate
Slippage unknown: Variational Omni: RFQ quote, 5 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 Variational Omni RFQ quote, 5 min ago | 0.52 bp | doesn't fit | 0.5 bp −$5 | 2.9 bp −$291 | 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 | |
|---|---|---|---|---|---|---|---|---|
| Phoenix BTC | −0.0082% | 1h | 85,520 | +0.102% | $2.3M | $10.4M | 40x | as long as short |
| Hotstuff BTC-PERP | −0.0080% | 1h | 85,456 | +0.027% | $8K | $3K | 50x | as long as short |
| KuCoin XBTUSDTM | −0.0033% | 8h | 85,405 | −0.033% | $928.7M | $772.9M | 125x | as long as short |
| BloFin BTC-USDT | −0.0022% | 8h | 85,455 | +0.026% | $421.8M | $681.5M | 150x | as long as short |
| Aster BTCUSDT | −0.0003% | 8h | 85,395.9 | −0.043% | $512.5M | $1.09B | 200x | as long as short |
| 01 Exchange BTCUSD | 0.0000% | 1h | 85,435.6 | +0.003% | $352K | $2.4M | 50x | as long as short |
| Perpl BTC | 0.0000% | 43m | 85,439.2 | +0.007% | $490K | $18.3M | 6.7x | as long as short |
| dYdX BTC-USD | +0.0001% | 1h | 85,430.1 | −0.003% | $16.7M | $21.0M | 50x | as long as short |
| gTrade (Gains Network) BTC/USD | L +0.0004% / S −0.0004% | 1h | 85,418.4 | −0.017% | $36.5M | — | 200x | as long as short |
| Deribit BTC-PERPETUAL | +0.0040% | 1h | 85,437.5 | +0.005% | $853.6M | $1.64B | 50x | as long as short |
Phoenix BTC
Hotstuff BTC-PERP
KuCoin XBTUSDTM
BloFin BTC-USDT
Aster BTCUSDT
01 Exchange BTCUSD
Perpl BTC
dYdX BTC-USD
gTrade (Gains Network) BTC/USD
Deribit BTC-PERPETUALShow all 56 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Nado BTC-PERP | +0.0046% | 1h | 85,416.9 | −0.019% | $24.1M | $219.7M | 50x | as long as short |
| Injective BTC/USDC PERP | +0.0057% | 1h | 85,486 | +0.062% | $339K | $26.8M | 52x | as long as short |
| BingX BTC-USDC | +0.0074% | 8h | 85,377.1 | −0.065% | — | $17.4M | — | as long as short |
| Kraken Futures PF_XBTUSD | +0.0089% | 1h | 85,409.2 | −0.028% | $185.9M | $951.0M | 100x | as long as short |
| Bitget BTCUSDT | +0.0091% | 8h | 85,400.1 | −0.038% | $2.97B | $5.15B | 150x | as long as short |
| Bybit BTCUSDT | +0.0092% | 8h | 85,388.1 | −0.052% | $5.14B | $9.97B | 150x | as long as short |
| SoDEX BTC-USD | +0.0092% | 1h | 85,396 | −0.043% | $59.8M | $336.6M | 40x | as long as short |
| Lighter BTC | +0.0096% | 1h | 85,413.4 | −0.023% | $169.6M | $1.03B | 50x | as long as short |
| Lighter RH BTC | +0.0096% | 1h | 85,410.4 | −0.026% | $23.6M | $149.0M | 50x | as long as short |
| Popdex BTCUSDT | +0.0096% | 1h | 85,414 | −0.022% | $8.4M | $57.2M | 100x | as long as short |
| Aevo BTC-PERP | +0.0096% | 1h | 85,414.8 | −0.021% | $2.4M | $6.7M | 20x | as long as short |
| MEXC BTC_USDT | +0.0097% | 8h | 85,399.9 | −0.039% | $5.04B | $5.78B | 500x | as long as short |
| Binance BTCUSDT | +0.0098% | 8h | 85,395 | −0.044% | $9.42B | $24.86B | 150x | as long as short |
| Katana Perps BTC-USD | +0.0100% | 8h | 85,393 | −0.047% | $245K | $8.6M | 50x | as long as short |
| Paradex BTC-USD-PERP | +0.0100% | 8h | 85,459.4 | +0.031% | $5.8M | $9.6M | 50x | as long as short |
| Hyperliquid BTC | +0.0100% | 1h | 85,480 | +0.055% | $3.75B | $5.06B | 40x | as long as short |
| Pacifica BTC | +0.0100% | 1h | 85,455 | +0.026% | $40.4M | $603.0M | 50x | as long as short |
| OKX BTC-USDT-SWAP | +0.0100% | 8h | 85,400 | −0.039% | $2.60B | $12.18B | 100x | as long as short |
| Ondo Perps BTC-USD.P | +0.0100% | 1h | 85,414 | −0.022% | $3.8M | $17.1M | 25x | as long as short |
| Arcus BTC-USD | +0.0100% | 1h | 85,406.7 | −0.031% | $5.1M | $96.0M | 40x | as long as short |
| Gate BTC_USDT | +0.0100% | 8h | 85,408.1 | −0.029% | $5.55B | $11.09B | 200x | as long as short |
| Backpack BTC_USDC_PERP | +0.0100% | 1h | 85,389.5 | −0.051% | $37.4M | $182.6M | 75x | as long as short |
| Variational Omni BTClong | +0.0100% | 8h | 85,432.9 | long leg | $156.6M | $557.5M | — | |
| edgeX BTCUSDC | +0.0100% | 4h | 85,406.3 | −0.031% | $279.8M | $952.9M | 100x | as long as short |
| GRVT BTC_USDT_Perp | +0.0100% | 8h | 85,439.5 | +0.008% | $214.5M | $163.3M | 50x | as long as short |
| ApeX Omni BTCUSDT | +0.0100% | 1h | 85,439.8 | +0.008% | $139.7M | $313.1M | 100x | as long as short |
| StandX BTC-USD | +0.0100% | 1h | 85,448 | +0.018% | $30.1M | $207.4M | 40x | as long as short |
| Vest BTC-PERP | +0.0100% | 1h | 85,466.1 | +0.039% | — | $10.2M | 50x | as long as short |
| Polymarket Perps BTC-USD | +0.0100% | 1h | 85,412 | −0.024% | $11.0M | $14.6M | 50x | as long as short |
| Bullet BTC-USD | +0.0100% | 1h | 85,408.9 | −0.028% | $199K | $3.3M | 20x | as long as short |
| Orderly PERP_BTC_USDC | +0.0100% | 8h | 85,401.3 | −0.037% | $2.6M | $9.8M | 100x | as long as short |
| Bluefin BTC-PERP | +0.0100% | 1h | 85,435.4 | +0.003% | $194K | $795K | 40x | as long as short |
| Derive BTC-PERPshort | +0.0100% | 1h | 85,383.8 | −0.057% | $30.0M | $46.1M | 15x | |
| SunX BTC-USDT | +0.0100% | 8h | 85,416.9 | −0.019% | $2.9M | $6.1M | 100x | as long as short |
| HTX BTC-USDT | +0.0100% | 8h | 85,400 | −0.039% | $2.26B | $962.7M | 200x | as long as short |
| Phemex BTCUSDT | +0.0100% | 8h | 85,413.5 | −0.023% | $157.3M | $512.2M | 150x | as long as short |
| Bulk BTC-USD | +0.0100% | 1h | 85,413.1 | −0.023% | $689.0M | $342.5M | 40x | as long as short |
| Extended BTC-USD | +0.0104% | 1h | 85,375.3 | −0.067% | $45.3M | $240.1M | 50x | as long as short |
| Jupiter Perps WBTC-PERP | L +0.0104% / S +0.0056% | 1h | 85,433 | 0.000% | — | $104.3M | 500x | as long as short |
| Coinbase International BTC-PERP-INTX | +0.0104% | 1h | 85,428.5 | −0.005% | $112.9M | $5.48B | 50x | as long as short |
| Reya BTCRUSDPERP | +0.0134% | 1h | 85,399.1 | −0.040% | $6.6M | $147.7M | 40x | as long as short |
| GMX BTC/USD [WBTC.b-USDC] | L +0.0175% / S −0.0148% | 1h | 85,420.1 | −0.015% | $13.0M | — | 200x | as long as short |
| Kalshi KXBTCPERP | +0.0177% | 8h | 85,440 | +0.008% | $12.0M | $738.7M | 6.4x | as long as short |
| RISEx BTC/USDC | +0.0193% | 1h | 85,439.1 | +0.007% | $8.8M | $42.7M | 25x | as long as short |
| Hibachi BTC/USDT-P | +0.0208% | 1h | 85,495.5 | +0.073% | $685K | $7.8M | 30x | as long as short |
| Aftermath Perps BTCUSD | +0.0271% | 1h | 85,452.6 | +0.023% | $77K | $244K | 20x | as long as short |
Nado BTC-PERP
Injective BTC/USDC PERP
BingX BTC-USDC
Kraken Futures PF_XBTUSD
Bitget BTCUSDT
Bybit BTCUSDT
SoDEX BTC-USD
Lighter BTC
Lighter RH BTC
Popdex BTCUSDT
Aevo BTC-PERP
MEXC BTC_USDT
Binance BTCUSDT
Katana Perps BTC-USD
Paradex BTC-USD-PERP
Hyperliquid BTC
Pacifica BTC
OKX BTC-USDT-SWAP
Ondo Perps BTC-USD.P
Arcus BTC-USD
Gate BTC_USDT
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
Bluefin BTC-PERP
SunX BTC-USDT
HTX BTC-USDT
Phemex BTCUSDT
Bulk BTC-USD
Extended BTC-USD
Jupiter Perps WBTC-PERP
Coinbase International BTC-PERP-INTX
Reya BTCRUSDPERP
GMX BTC/USD [WBTC.b-USDC]
Kalshi KXBTCPERP
RISEx BTC/USDC
Hibachi BTC/USDT-P
Aftermath Perps BTCUSD