BTC

Alert

Funding spread now, next payment 17:00 UTC+0.0281%/8h

next payment, per $10,000+$0.35paid, last 24h−0.010%paid, last 3 days−0.006%to open and close $10k−$13

The current rate is far above what this pair has been paying: over the last 3 days it paid -0.006% in total (about -0.7% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.35 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Arcus BTC-USD	85,820.9	−0.0377	get 0.0047% / 1h	22m 27s	$6.9M	$85.3M	40x
Short	Phoenix BTC	85,839	−0.0096	pay 0.0012% / 1h	22m 27s	$1.9M	$11.0M	40x

Funding history

latest

Range statsloading…

Funding on every exchange

click an exchange to add or hide it

latest

Profit calculator

Position, each leg$Hold fordaysFee ArcusbpFee PhoenixbpOrdersRate

Funding earned: $58.94
Slippage, 4 orders: −$1.07
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: $46.38
Break-even: 1.5 days

Slippage from Arcus: live order book, 3 min ago; Phoenix: live order book, 3 min ago.

Price risk

price view

Price gap now: +0.021%
Avg gap 7d: +0.025%

A gap far from its average can cost days of funding.

Backtest

opened in the past, held until now, after costs

Backtest 7 days Backtest 30 days Backtest 90 daysopens the backtester with this pair and $10,000 a leg

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 Arcus live order book, 3 min ago	0.01 bp	2.3 bp −$2	2.6 bp −$26	4.5 bp −$448	doesn't fit
Sell Phoenix live order book, 3 min ago	0.06 bp	3.7 bp −$4	5.8 bp −$58	10.7 bp −$1,069	doesn't fit

BTC on 55 venues

lowest funding first. Swap a leg.

Exchange	Funding /8h	Every	OI	Vol 24h	Max lev
Bluefin BTC-PERP	−0.1574%	1h	$143K	$410K	40x	as long as short
Arcus BTC-USDlong	−0.0377%	1h	$6.9M	$85.3M	40x
Perpl BTC	−0.0223%	43m	$393K	$26.6M	6.7x	as long as short
Phoenix BTCshort	−0.0096%	1h	$1.9M	$11.0M	40x
BloFin BTC-USDT	−0.0095%	8h	$423.8M	$567.2M	150x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	$9K	$4K	50x	as long as short
Kraken Futures PF_XBTUSD	−0.0073%	1h	$190.2M	$813.6M	100x	as long as short
ApeX Omni BTCUSDT	−0.0059%	1h	$139.1M	$319.3M	100x	as long as short
01 Exchange BTCUSD	−0.0056%	1h	$309K	$2.4M	50x	as long as short
dYdX BTC-USD	−0.0023%	1h	$17.1M	$18.1M	50x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	OI	Vol 24h	Max lev
Injective BTC/USDC PERP	−0.0019%	1h	$308K	$27.0M	52x	as long as short
Reya BTCRUSDPERP	−0.0018%	1h	$6.7M	$138.1M	40x	as long as short
Bulk BTC-USD	−0.0015%	1h	$560.8M	$139.1M	40x	as long as short
SoDEX BTC-USD	−0.0015%	1h	$60.8M	$284.3M	40x	as long as short
BingX BTC-USDT	−0.0005%	8h	—	$1.37B	—	as long as short
Bitget BTCUSDT	−0.0004%	8h	$2.96B	$4.68B	150x	as long as short
KuCoin XBTUSDTM	−0.0001%	8h	$796.8M	$615.1M	125x	as long as short
Phemex BTCUSDT	+0.0003%	8h	$148.1M	$417.0M	150x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0005% / S −0.0004%	1h	$36.8M	—	200x	as long as short
Aster BTCUSDT	+0.0013%	8h	$504.8M	$1.10B	200x	as long as short
OKX BTC-USDT-SWAP	+0.0015%	8h	$2.66B	$11.56B	100x	as long as short
Gate BTC_USDT	+0.0017%	8h	$6.08B	$9.57B	200x	as long as short
Bybit BTCUSDT	+0.0021%	8h	$5.25B	$8.59B	150x	as long as short
Extended BTC-USD	+0.0024%	1h	$48.7M	$199.7M	50x	as long as short
MEXC BTC_USDT	+0.0024%	8h	$5.16B	$5.15B	500x	as long as short
Aevo BTC-PERP	+0.0024%	1h	$2.4M	$1.3M	20x	as long as short
Binance BTCUSDT	+0.0025%	8h	$9.48B	$22.07B	150x	as long as short
RISEx BTC/USDC	+0.0040%	1h	$9.1M	$38.6M	25x	as long as short
Popdex BTCUSDT	+0.0048%	1h	$8.5M	$46.5M	100x	as long as short
Variational Omni BTC	+0.0064%	8h	$171.6M	$504.9M	—	as long as short
Aftermath Perps BTCUSD	+0.0066%	1h	$86K	$154K	20x	as long as short
StandX BTC-USD	+0.0070%	1h	$30.6M	$223.1M	40x	as long as short
Lighter BTC	+0.0096%	1h	$171.5M	$943.6M	50x	as long as short
Lighter RH BTC	+0.0096%	1h	$24.6M	$137.3M	50x	as long as short
Paradex BTC-USD-PERP	+0.0096%	8h	$4.4M	$6.8M	50x	as long as short
Bullet BTC-USD	+0.0099%	1h	$227K	$3.3M	20x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	$194K	$5.7M	50x	as long as short
Nado BTC-PERP	+0.0100%	1h	$23.5M	$227.2M	50x	as long as short
Pacifica BTC	+0.0100%	1h	$36.5M	$397.9M	50x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	$4.0M	$16.8M	25x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	$37.1M	$127.3M	75x	as long as short
edgeX BTCUSDC	+0.0100%	4h	$280.2M	$879.5M	100x	as long as short
Vest BTC-PERP	+0.0100%	1h	—	$11.5M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	$11.0M	$11.7M	50x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	$2.4M	$7.4M	100x	as long as short
Derive BTC-PERP	+0.0100%	1h	$30.4M	$59.4M	15x	as long as short
SunX BTC-USDT	+0.0100%	8h	$3.3M	$5.8M	100x	as long as short
HTX BTC-USDT	+0.0100%	8h	$2.28B	$835.1M	200x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0048%	1h	—	$85.0M	500x	as long as short
Kalshi KXBTCPERP	+0.0106%	8h	$13.2M	$636.8M	6.4x	as long as short
Hibachi BTC/USDT-P	+0.0120%	1h	$757K	$7.0M	30x	as long as short
Hyperliquid BTC	+0.0147%	1h	$3.92B	$4.40B	40x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0172% / S −0.0153%	1h	$12.7M	—	200x	as long as short
Coinbase International BTC-PERP-INTX	+0.0184%	1h	$129.0M	$5.89B	50x	as long as short
Deribit BTC-PERPETUAL	+0.0214%	1h	$915.1M	$1.10B	50x	as long as short