BTC

Alert

Funding spread now, next payment 18:00 UTC+0.1935%/8h

next payment, per $10,000+$2.42paid, last 24h+0.220%paid, last 7 days+0.604%to open and close $10k−$22

The current rate is far above what this pair has been paying: over the last 7 days it paid 0.604% in total (about 31.5% a year). A funding rate is set anew for every payment; at this rate the next one is about +$2.42 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	85,909.7	−0.1815	get 0.0227% / 1h	25m 42s	$143K	$411K	40x
Short	Hibachi BTC/USDT-P	85,918.7	0.0120	get 0.0015% / 1h	25m 42s	$752K	$7.1M	30x

Funding history

latest

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Funding on every exchange

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Profit calculator

Position, each leg$Hold fordaysFee BluefinbpFee HibachibpOrdersRate

Funding earned: $406.31
Slippage, 4 orders: −$6.3
Fee Bluefin: 3.5 bp × 2 orders: −$7
Fee Hibachi: 4.5 bp × 2 orders: −$9
Net: $384.01
Break-even: 0.4 days

Slippage from Bluefin: live order book, 15 min ago; Hibachi: live order book, 5 min ago.

Price risk

price view

Price gap now: +0.011%
Avg gap 7d: +0.066%

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, 15 min ago	0.88 bp	6.0 bp −$6	10.7 bp −$107	doesn't fit	doesn't fit
Sell Hibachi live order book, 5 min ago	0.01 bp	4.6 bp −$5	4.9 bp −$49	45.3 bp −$4,535	doesn't fit

BTC on 55 venues

lowest funding first. Swap a leg.

Exchange	Funding /8h	Every	OI	Vol 24h	Max lev
Bluefin BTC-PERPlong	−0.1815%	1h	$143K	$411K	40x
Arcus BTC-USD	−0.0377%	1h	$6.9M	$85.3M	40x	as long as short
Perpl BTC	−0.0223%	43m	$393K	$26.7M	6.7x	as long as short
Phoenix BTC	−0.0096%	1h	$1.9M	$11.0M	40x	as long as short
BloFin BTC-USDT	−0.0094%	8h	$424.6M	$566.9M	150x	as long as short
ApeX Omni BTCUSDT	−0.0092%	1h	$139.1M	$319.2M	100x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	$9K	$4K	50x	as long as short
Kraken Futures PF_XBTUSD	−0.0073%	1h	$190.4M	$814.0M	100x	as long as short
01 Exchange BTCUSD	−0.0048%	1h	$307K	$2.4M	50x	as long as short
Phemex BTCUSDT	−0.0025%	8h	$148.1M	$416.4M	150x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	OI	Vol 24h	Max lev
dYdX BTC-USD	−0.0025%	1h	$17.1M	$18.1M	50x	as long as short
Bulk BTC-USD	−0.0019%	1h	$560.6M	$139.0M	40x	as long as short
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
SoDEX BTC-USD	−0.0016%	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	0.0000%	8h	$796.5M	$615.2M	125x	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	+0.0014%	8h	$504.6M	$1.10B	200x	as long as short
OKX BTC-USDT-SWAP	+0.0014%	8h	$2.66B	$11.55B	100x	as long as short
Gate BTC_USDT	+0.0017%	8h	$6.07B	$9.57B	200x	as long as short
Bybit BTCUSDT	+0.0020%	8h	$5.24B	$8.59B	150x	as long as short
Extended BTC-USD	+0.0024%	1h	$48.7M	$199.7M	50x	as long as short
Aevo BTC-PERP	+0.0024%	1h	$2.4M	$1.3M	20x	as long as short
MEXC BTC_USDT	+0.0025%	8h	$5.17B	$5.14B	500x	as long as short
Binance BTCUSDT	+0.0026%	8h	$9.47B	$22.09B	150x	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	$46.5M	100x	as long as short
Variational Omni BTC	+0.0065%	8h	$171.9M	$505.5M	—	as long as short
StandX BTC-USD	+0.0067%	1h	$30.7M	$224.9M	40x	as long as short
Aftermath Perps BTCUSD	+0.0077%	1h	$86K	$154K	20x	as long as short
Bullet BTC-USD	+0.0095%	1h	$229K	$3.3M	20x	as long as short
Paradex BTC-USD-PERP	+0.0096%	8h	$4.4M	$6.8M	50x	as long as short
Lighter BTC	+0.0096%	1h	$171.4M	$942.8M	50x	as long as short
Lighter RH BTC	+0.0096%	1h	$24.7M	$137.0M	50x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	$192K	$5.7M	50x	as long as short
Nado BTC-PERP	+0.0100%	1h	$23.5M	$227.3M	50x	as long as short
Pacifica BTC	+0.0100%	1h	$36.6M	$397.9M	50x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	$4.0M	$16.7M	25x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	$37.2M	$127.3M	75x	as long as short
edgeX BTCUSDC	+0.0100%	4h	$280.2M	$878.7M	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	$11.1M	$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	$2.29B	$835.7M	200x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0048%	1h	—	$84.7M	500x	as long as short
Kalshi KXBTCPERP	+0.0105%	8h	$13.2M	$635.4M	6.4x	as long as short
Hibachi BTC/USDT-Pshort	+0.0120%	1h	$752K	$7.1M	30x
Deribit BTC-PERPETUAL	+0.0123%	1h	$915.0M	$1.11B	50x	as long as short
Hyperliquid BTC	+0.0143%	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	$129.2M	$5.91B	50x	as long as short