BTC

Alert

Funding spread now, next payment 19:00 UTC−0.0004%/8h

next payment, per $10,000−$0.01paid, last 24h+0.187%paid, last 7 days+0.300%to open and close $10k−$13

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bluefin BTC-PERP	86,058.3	0.0100	pay 0.0013% / 1h	0m 58s	$143K	$454K	40x
Short	Lighter BTC	86,026.6	0.0096	get 0.0012% / 1h	0m 58s	$172.4M	$957.1M	50x

Funding history

latest

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Funding on every exchange

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Profit calculator

Position, each leg$Hold fordaysFee BluefinbpFee LighterbpOrdersRate

Funding earned: −$0.84
Slippage, 4 orders: −$6.11
Fee Bluefin: 3.5 bp × 2 orders: −$7
Fee Lighter: 0 bp × 2 orders: $0
Net: −$13.95
Break-even: never at this rate

Slippage from Bluefin: live order book, 30 min ago; Lighter: live order book, 5 min ago.

Price risk

price view

Price gap now: −0.037%
Avg gap 7d: +0.040%

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, 30 min ago	1.16 bp	5.8 bp −$6	10.3 bp −$103	doesn't fit	doesn't fit
Sell Lighter live order book, 5 min ago	0.42 bp	0.4 bp $0	0.7 bp −$7	1.4 bp −$144	4.0 bp −$2,019

BTC on 55 venues

lowest funding first. Swap a leg.

Exchange	Funding /8h	Every	OI	Vol 24h	Max lev
Perpl BTC	−0.0447%	43m	$408K	$25.9M	6.7x	as long as short
Arcus BTC-USD	−0.0299%	1h	$6.8M	$86.3M	40x	as long as short
BloFin BTC-USDT	−0.0090%	8h	$423.7M	$569.8M	150x	as long as short
Phoenix BTC	−0.0082%	1h	$2.0M	$11.0M	40x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	$9K	$4K	50x	as long as short
01 Exchange BTCUSD	−0.0048%	1h	$310K	$2.3M	50x	as long as short
Aftermath Perps BTCUSD	−0.0025%	1h	$87K	$157K	20x	as long as short
Kraken Futures PF_XBTUSD	−0.0019%	1h	$189.0M	$821.4M	100x	as long as short
Reya BTCRUSDPERP	−0.0013%	1h	$6.8M	$138.3M	40x	as long as short
dYdX BTC-USD	−0.0011%	1h	$17.2M	$17.7M	50x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	OI	Vol 24h	Max lev
KuCoin XBTUSDTM	−0.0010%	8h	$810.2M	$623.1M	125x	as long as short
Injective BTC/USDC PERP	−0.0006%	1h	$309K	$27.0M	52x	as long as short
Kalshi KXBTCPERP	0.0000%	8h	$11.3M	$664.5M	6.4x	as long as short
Bitget BTCUSDT	+0.0001%	8h	$2.97B	$4.69B	150x	as long as short
SoDEX BTC-USD	+0.0001%	1h	$61.0M	$285.9M	40x	as long as short
BingX BTC-USDC	+0.0002%	8h	—	$14.4M	—	as long as short
gTrade (Gains Network) BTC/USD	L +0.0005% / S −0.0004%	1h	$36.8M	—	200x	as long as short
Bulk BTC-USD	+0.0015%	1h	$565.1M	$114.8M	40x	as long as short
Aster BTCUSDT	+0.0017%	8h	$506.9M	$1.10B	200x	as long as short
Phemex BTCUSDT	+0.0026%	8h	$155.2M	$427.0M	150x	as long as short
MEXC BTC_USDT	+0.0030%	8h	$5.17B	$5.16B	500x	as long as short
Binance BTCUSDT	+0.0030%	8h	$9.52B	$22.24B	150x	as long as short
RISEx BTC/USDC	+0.0031%	1h	$9.3M	$38.6M	25x	as long as short
Aevo BTC-PERP	+0.0032%	1h	$2.4M	$1.3M	20x	as long as short
OKX BTC-USDT-SWAP	+0.0038%	8h	$2.68B	$11.63B	100x	as long as short
HTX BTC-USDT	+0.0040%	8h	$2.29B	$856.7M	200x	as long as short
ApeX Omni BTCUSDT	+0.0043%	1h	$140.1M	$321.1M	100x	as long as short
Gate BTC_USDT	+0.0052%	8h	$6.09B	$9.72B	200x	as long as short
Bybit BTCUSDT	+0.0058%	8h	$5.31B	$8.70B	150x	as long as short
Popdex BTCUSDT	+0.0064%	1h	$8.7M	$46.7M	100x	as long as short
Hibachi BTC/USDT-P	+0.0072%	1h	$746K	$6.5M	30x	as long as short
Variational Omni BTC	+0.0075%	8h	$167.1M	$507.5M	—	as long as short
Extended BTC-USD	+0.0080%	1h	$48.3M	$201.9M	50x	as long as short
Orderly PERP_BTC_USDC	+0.0089%	8h	$2.4M	$7.4M	100x	as long as short
Lighter BTCshort	+0.0096%	1h	$172.4M	$957.1M	50x
Lighter RH BTC	+0.0096%	1h	$24.6M	$139.8M	50x	as long as short
Paradex BTC-USD-PERP	+0.0099%	8h	$4.4M	$6.9M	50x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	$209K	$5.9M	50x	as long as short
Nado BTC-PERP	+0.0100%	1h	$23.0M	$227.0M	50x	as long as short
Pacifica BTC	+0.0100%	1h	$36.6M	$424.4M	50x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	$4.0M	$17.3M	25x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	$38.1M	$135.7M	75x	as long as short
edgeX BTCUSDC	+0.0100%	4h	$281.6M	$882.2M	100x	as long as short
StandX BTC-USD	+0.0100%	1h	$30.7M	$211.1M	40x	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	$12.4M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	$231K	$3.3M	20x	as long as short
Bluefin BTC-PERPlong	+0.0100%	1h	$143K	$454K	40x
Derive BTC-PERP	+0.0100%	1h	$30.4M	$59.0M	15x	as long as short
SunX BTC-USDT	+0.0100%	8h	$3.4M	$5.6M	100x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0048%	1h	—	$83.3M	500x	as long as short
Hyperliquid BTC	+0.0149%	1h	$3.98B	$4.51B	40x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0175% / S −0.0177%	1h	$13.7M	—	200x	as long as short
Coinbase International BTC-PERP-INTX	+0.0200%	1h	$129.6M	$5.83B	50x	as long as short
Deribit BTC-PERPETUAL	+0.0246%	1h	$917.6M	$1.12B	50x	as long as short