BTC

Alert

Funding spread now, next payment 14:00 UTC−0.0100%/8h

paid, last 24h+0.078%paid, last 7 days+0.175%to open and close $10k−$139

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bluefin BTC-PERP	84,915.1	0.0100	pay 0.0013% / 1h	28m 28s	$142K	$356K	40x
Short	Kalshi KXBTCPERP	84,925	0	get 0.0000% / 8h	6h 28m	$8.6M	$451.9M	6.4x

Funding history

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Funding on every exchange

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Profit calculator

Position, each leg$Hold fordaysFee BluefinbpFee KalshibpOrdersRate

Funding earned: −$21
Slippage, 4 orders: −$121.96
Fee Bluefin: 3.5 bp × 2 orders: −$7
Fee Kalshi: 5 bp × 2 orders: −$10
Net: −$159.96
Break-even: never at this rate

Slippage from Bluefin: live order book, 32 min ago; Kalshi: live order book, 2 min ago.

Price risk

price view

Price gap now: +0.012%
Avg gap 7d: +0.019%

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, 32 min ago	60.46 bp	64.0 bp −$64	doesn't fit	doesn't fit	doesn't fit
Sell Kalshi live order book, 2 min ago	0.35 bp	5.6 bp −$6	7.1 bp −$71	8.4 bp −$844	13.8 bp −$6,876

BTC on 55 venues

lowest funding first. Swap a leg.

Exchange	Funding /8h	Every	OI	Vol 24h	Max lev
Perpl BTC	−0.0447%	43m	$424K	$31.8M	6.7x	as long as short
ApeX Omni BTCUSDT	−0.0174%	1h	$136.7M	$314.0M	100x	as long as short
edgeX BTCUSDC	−0.0113%	4h	$283.0M	$736.9M	100x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	$8K	$2K	50x	as long as short
Gate BTC_USDT	−0.0049%	8h	$6.01B	$7.87B	200x	as long as short
Reya BTCRUSDPERP	−0.0045%	1h	$6.8M	$130.1M	40x	as long as short
01 Exchange BTCUSD	−0.0040%	1h	$313K	$2.1M	50x	as long as short
Injective BTC/USDC PERP	−0.0036%	1h	$322K	$27.0M	52x	as long as short
Bitget BTCUSDT	−0.0016%	8h	$2.92B	$3.99B	150x	as long as short
BingX BTC-USDC	−0.0015%	8h	—	$14.3M	—	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	OI	Vol 24h	Max lev
HTX BTC-USDT	−0.0005%	8h	$2.28B	$733.8M	200x	as long as short
Aftermath Perps BTCUSD	−0.0002%	1h	$83K	$136K	20x	as long as short
SoDEX BTC-USD	0.0000%	1h	$60.8M	$233.4M	40x	as long as short
dYdX BTC-USD	0.0000%	1h	$16.1M	$13.5M	50x	as long as short
Kalshi KXBTCPERPshort	0.0000%	8h	$8.6M	$451.9M	6.4x
gTrade (Gains Network) BTC/USD	L +0.0004% / S −0.0004%	1h	$36.3M	—	200x	as long as short
Phemex BTCUSDT	+0.0036%	8h	$161.9M	$354.5M	150x	as long as short
Aster BTCUSDT	+0.0046%	8h	$489.9M	$874.2M	200x	as long as short
Backpack BTC_USDC_PERP	+0.0048%	1h	$39.7M	$102.9M	75x	as long as short
Popdex BTCUSDT	+0.0064%	1h	$8.4M	$36.6M	100x	as long as short
OKX BTC-USDT-SWAP	+0.0071%	8h	$2.55B	$9.93B	100x	as long as short
KuCoin XBTUSDTM	+0.0075%	8h	$801.8M	$549.7M	125x	as long as short
Nado BTC-PERP	+0.0076%	1h	$22.6M	$205.7M	50x	as long as short
Bullet BTC-USD	+0.0082%	1h	$226K	$3.3M	20x	as long as short
StandX BTC-USD	+0.0088%	1h	$30.3M	$249.1M	40x	as long as short
RISEx BTC/USDC	+0.0090%	1h	$8.6M	$35.8M	25x	as long as short
Lighter BTC	+0.0096%	1h	$188.0M	$778.8M	50x	as long as short
Lighter RH BTC	+0.0096%	1h	$24.9M	$122.9M	50x	as long as short
Aevo BTC-PERP	+0.0096%	1h	$2.4M	$1.7M	20x	as long as short
Paradex BTC-USD-PERP	+0.0097%	8h	$4.3M	$6.5M	50x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	$225K	$4.5M	50x	as long as short
Pacifica BTC	+0.0100%	1h	$36.7M	$293.1M	50x	as long as short
Binance BTCUSDT	+0.0100%	8h	$9.50B	$18.00B	150x	as long as short
Bybit BTCUSDT	+0.0100%	8h	$5.04B	$7.19B	150x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	$3.9M	$14.9M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	$6.8M	$73.0M	40x	as long as short
MEXC BTC_USDT	+0.0100%	8h	$5.05B	$4.34B	500x	as long as short
Variational Omni BTC	+0.0100%	8h	$170.7M	$448.6M	—	as long as short
Vest BTC-PERP	+0.0100%	1h	—	$12.5M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	$10.7M	$9.8M	50x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	$2.3M	$6.4M	100x	as long as short
Bluefin BTC-PERPlong	+0.0100%	1h	$142K	$356K	40x
Derive BTC-PERP	+0.0100%	1h	$26.0M	$49.7M	15x	as long as short
SunX BTC-USDT	+0.0100%	8h	$3.3M	$5.0M	100x	as long as short
Bulk BTC-USD	+0.0100%	1h	$531.7M	$81.4M	40x	as long as short
Extended BTC-USD	+0.0104%	1h	$46.9M	$174.1M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0048%	1h	—	$79.7M	500x	as long as short
Coinbase International BTC-PERP-INTX	+0.0120%	1h	$139.7M	$5.87B	50x	as long as short
Kraken Futures PF_XBTUSD	+0.0124%	1h	$185.6M	$701.2M	100x	as long as short
Phoenix BTC	+0.0126%	1h	$1.5M	$10.3M	40x	as long as short
Hyperliquid BTC	+0.0134%	1h	$3.81B	$3.81B	40x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0191% / S −0.0196%	1h	$12.8M	—	200x	as long as short
BloFin BTC-USDT	+0.0240%	8h	$418.9M	$404.6M	150x	as long as short
Hibachi BTC/USDT-P	+0.0240%	1h	$640K	$7.5M	30x	as long as short
Deribit BTC-PERPETUAL	+0.0360%	1h	$829.4M	$854.3M	50x	as long as short