BTC

Alert

Funding spread now, next payment 18:00 UTC+0.1035%/8h

next payment, per $10,000+$1.29paid, last 24h+0.199%paid, last 7 days+0.259%to open and close $10k−$19

The current rate is far above what this pair has been paying: over the last 7 days it paid 0.259% in total (about 13.5% a year). A funding rate is set anew for every payment; at this rate the next one is about +$1.29 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	Bluefin BTC-PERP	85,730.6	−0.0892	get 0.0111% / 1h	3m 07s	$143K	$411K	40x
Short	Deribit BTC-PERPETUAL	85,780.5	0.0143	get 0.0018% / 1h	3m 07s	$916.2M	$1.10B	50x

Funding history

latest

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Funding on every exchange

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Profit calculator

Position, each leg$Hold fordaysFee BluefinbpFee DeribitbpOrdersRate

Funding earned: $217.27
Slippage, 4 orders: −$5.36
Fee Bluefin: 3.5 bp × 2 orders: −$7
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: $197.91
Break-even: 0.6 days

Slippage from Bluefin: live order book, 38 min ago; Deribit: live order book, 3 min ago.

Price risk

price view

Price gap now: +0.058%
Avg gap 7d: +0.073%

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 Bluefin live order book, 38 min ago	0.88 bp	6.0 bp −$6	10.7 bp −$107	doesn't fit	doesn't fit
Sell Deribit live order book, 3 min ago	0.03 bp	3.5 bp −$4	4.6 bp −$46	8.6 bp −$856	16.1 bp −$8,041

BTC on 55 venues

lowest funding first. Swap a leg.

Exchange	Funding /8h	Every	OI	Vol 24h	Max lev
Bluefin BTC-PERPlong	−0.0892%	1h	$143K	$411K	40x
Perpl BTC	−0.0447%	43m	$410K	$26.4M	6.7x	as long as short
Arcus BTC-USD	−0.0377%	1h	$6.7M	$85.2M	40x	as long as short
BloFin BTC-USDT	−0.0100%	8h	$423.2M	$566.2M	150x	as long as short
Phoenix BTC	−0.0096%	1h	$1.9M	$11.0M	40x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	$9K	$4K	50x	as long as short
Kraken Futures PF_XBTUSD	−0.0073%	1h	$188.9M	$816.0M	100x	as long as short
ApeX Omni BTCUSDT	−0.0058%	1h	$139.3M	$320.0M	100x	as long as short
01 Exchange BTCUSD	−0.0048%	1h	$309K	$2.4M	50x	as long as short
dYdX BTC-USD	−0.0019%	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	$307K	$27.0M	52x	as long as short
Reya BTCRUSDPERP	−0.0017%	1h	$6.7M	$138.2M	40x	as long as short
KuCoin XBTUSDTM	−0.0006%	8h	$803.0M	$618.9M	125x	as long as short
SoDEX BTC-USD	−0.0006%	1h	$60.7M	$284.4M	40x	as long as short
Bulk BTC-USD	−0.0005%	1h	$560.1M	$127.0M	40x	as long as short
BingX BTC-USDT	−0.0002%	8h	—	$1.37B	—	as long as short
Bitget BTCUSDT	−0.0002%	8h	$2.95B	$4.68B	150x	as long as short
Kalshi KXBTCPERP	0.0000%	8h	$13.0M	$644.8M	6.4x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0005% / S −0.0004%	1h	$36.7M	—	200x	as long as short
Aster BTCUSDT	+0.0006%	8h	$503.9M	$1.10B	200x	as long as short
Phemex BTCUSDT	+0.0011%	8h	$147.9M	$419.4M	150x	as long as short
Gate BTC_USDT	+0.0015%	8h	$6.06B	$9.64B	200x	as long as short
OKX BTC-USDT-SWAP	+0.0017%	8h	$2.65B	$11.54B	100x	as long as short
Bybit BTCUSDT	+0.0018%	8h	$5.25B	$8.62B	150x	as long as short
Binance BTCUSDT	+0.0020%	8h	$9.46B	$22.11B	150x	as long as short
MEXC BTC_USDT	+0.0021%	8h	$5.17B	$5.19B	500x	as long as short
Aevo BTC-PERP	+0.0024%	1h	$2.4M	$1.3M	20x	as long as short
RISEx BTC/USDC	+0.0040%	1h	$9.1M	$38.7M	25x	as long as short
Popdex BTCUSDT	+0.0048%	1h	$8.5M	$46.6M	100x	as long as short
Aftermath Perps BTCUSD	+0.0049%	1h	$86K	$153K	20x	as long as short
Variational Omni BTC	+0.0061%	8h	$170.6M	$506.7M	—	as long as short
Extended BTC-USD	+0.0072%	1h	$48.6M	$200.1M	50x	as long as short
HTX BTC-USDT	+0.0080%	8h	$2.28B	$834.5M	200x	as long as short
StandX BTC-USD	+0.0080%	1h	$30.6M	$218.7M	40x	as long as short
Lighter BTC	+0.0096%	1h	$171.5M	$951.8M	50x	as long as short
Lighter RH BTC	+0.0096%	1h	$24.4M	$138.4M	50x	as long as short
Paradex BTC-USD-PERP	+0.0097%	8h	$4.4M	$6.9M	50x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	$193K	$5.8M	50x	as long as short
Nado BTC-PERP	+0.0100%	1h	$23.2M	$227.2M	50x	as long as short
Pacifica BTC	+0.0100%	1h	$36.5M	$404.7M	50x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	$3.9M	$16.8M	25x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	$37.3M	$129.2M	75x	as long as short
edgeX BTCUSDC	+0.0100%	4h	$279.9M	$880.5M	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	$11.9M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	$235K	$3.3M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	$2.4M	$7.5M	100x	as long as short
Derive BTC-PERP	+0.0100%	1h	$30.4M	$58.9M	15x	as long as short
SunX BTC-USDT	+0.0100%	8h	$3.4M	$5.8M	100x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0048%	1h	—	$84.6M	500x	as long as short
Hibachi BTC/USDT-P	+0.0112%	1h	$754K	$6.8M	30x	as long as short
Deribit BTC-PERPETUALshort	+0.0143%	1h	$916.2M	$1.10B	50x
Hyperliquid BTC	+0.0152%	1h	$3.94B	$4.43B	40x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0172% / S −0.0153%	1h	$12.6M	—	200x	as long as short
Coinbase International BTC-PERP-INTX	+0.0184%	1h	$128.9M	$5.85B	50x	as long as short