Funding you earn now, next payment 02:00 UTC+0.0094%/8h= +10.3% APRnext payment +$0.12 per $10,000 · paid last 24h +0.023%
Price spread now: GMX against Bulk−0.012%7-day average +0.036% · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 3 days (all we have)+0.063%+$6 on $10k
+Price spread, last 3 days (all we have)+0.111%+$11 · spread now −0.012%, 7d avg +0.036%
=Funding pays, the price is against you. GMX is 0.048% cheaper against Bulk than usual: you would sell low and buy high (spread −0.012% now, against its 7-day average of +0.036%). If the spread goes back, that is −$5 on $10k: about 41 hours of funding at the current rate (+$3 a day).
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Bulk BTC-USD | 85,804.9 | 0.0100 | pay 0.0013% / 1h | 43m 47s | $582.3M | $118.5M | 40x |
| Short | GMX BTC/USD [WBTC.b-USDC] | 85,794.6 | L +0.0204% / S −0.0194% | get 0.0024% / 1h | 43m 47s | $13.8M | — | 200x |
Bulk BTC-USD
GMX BTC/USD [WBTC.b-USDC]Funding history
latest
Range statsloading…
Price spread between the two exchanges
GMX against Bulk. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- $19.68
- Price spread: −0.012% → +0.036%
- −$4.76
- Slippage, 4 orders
- no order book: not counted
- Fee Bulk: 3.5 bp × 2 orders
- −$7
- Fee GMX: 6 bp × 2 orders
- −$12
- Net
- −$4.08
- Costs to cover
- 0.190%
- Break-even
- 8.4 days
Slippage unknown: Bulk: live order book, just now; GMX: no order-book sample. Net counts fees only.
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 Bulk live order book, just now | 0.03 bp | 3.5 bp −$4 | 3.5 bp −$35 | 3.5 bp −$353 | 3.7 bp −$1,841 |
| Sell GMX no order-book sample | — | — | — | — | — |
GMX: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.
BTC on 56 venues
lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Phoenix BTC | −0.0144% | 1h | 85,767 | −0.044% | $2.2M | $10.5M | 40x | as long as short |
| Hotstuff BTC-PERP | −0.0080% | 1h | 85,777 | −0.032% | $8K | $3K | 50x | as long as short |
| BloFin BTC-USDT | −0.0078% | 8h | 85,853 | +0.056% | $415.8M | $658.2M | 150x | as long as short |
| 01 Exchange BTCUSD | −0.0056% | 1h | 85,771.9 | −0.038% | $364K | $2.3M | 50x | as long as short |
| dYdX BTC-USD | 0.0000% | 1h | 85,774.5 | −0.035% | $16.8M | $20.6M | 50x | as long as short |
| Perpl BTC | 0.0000% | 43m | 85,776.8 | −0.033% | $512K | $21.2M | 6.7x | as long as short |
| gTrade (Gains Network) BTC/USD | L +0.0004% / S −0.0004% | 1h | 85,814.8 | +0.012% | $36.7M | — | 200x | as long as short |
| Injective BTC/USDC PERP | +0.0020% | 1h | 85,810 | +0.006% | $341K | $26.9M | 52x | as long as short |
| Aster BTCUSDT | +0.0037% | 8h | 85,822.9 | +0.021% | $497.7M | $1.13B | 200x | as long as short |
| KuCoin XBTUSDTM | +0.0040% | 8h | 85,815.9 | +0.013% | $894.9M | $757.3M | 125x | as long as short |
Phoenix BTC
Hotstuff BTC-PERP
BloFin BTC-USDT
01 Exchange BTCUSD
dYdX BTC-USD
Perpl BTC
gTrade (Gains Network) BTC/USD
Injective BTC/USDC PERP
Aster BTCUSDT
KuCoin XBTUSDTMShow all 56 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| RISEx BTC/USDC | +0.0044% | 1h | 85,770.5 | −0.040% | $8.1M | $42.6M | 25x | as long as short |
| BingX BTC-USDC | +0.0053% | 8h | 85,836.7 | +0.037% | — | $15.4M | — | as long as short |
| Reya BTCRUSDPERP | +0.0054% | 1h | 85,754.5 | −0.059% | $6.7M | $146.1M | 40x | as long as short |
| Bitget BTCUSDT | +0.0067% | 8h | 85,849.9 | +0.052% | $2.96B | $5.14B | 150x | as long as short |
| ApeX Omni BTCUSDT | +0.0076% | 1h | 85,808.2 | +0.004% | $140.3M | $320.9M | 100x | as long as short |
| HTX BTC-USDT | +0.0077% | 8h | 85,806.3 | +0.002% | $2.28B | $969.3M | 200x | as long as short |
| Nado BTC-PERP | +0.0079% | 1h | 85,769.9 | −0.041% | $22.8M | $229.3M | 50x | as long as short |
| Binance BTCUSDT | +0.0088% | 8h | 85,843.9 | +0.045% | $9.34B | $24.59B | 150x | as long as short |
| MEXC BTC_USDT | +0.0088% | 8h | 85,821.8 | +0.020% | $5.11B | $5.67B | 500x | as long as short |
| Aevo BTC-PERP | +0.0088% | 1h | 85,816 | +0.013% | $2.5M | $1.8M | 20x | as long as short |
| Gate BTC_USDT | +0.0094% | 8h | 85,839 | +0.040% | $5.66B | $10.39B | 200x | as long as short |
| Lighter BTC | +0.0096% | 1h | 85,834.9 | +0.035% | $169.6M | $979.7M | 50x | as long as short |
| Lighter RH BTC | +0.0096% | 1h | 85,836.9 | +0.037% | $23.3M | $145.3M | 50x | as long as short |
| Popdex BTCUSDT | +0.0096% | 1h | 85,778 | −0.031% | $8.4M | $52.5M | 100x | as long as short |
| Katana Perps BTC-USD | +0.0100% | 8h | 85,749 | −0.065% | $210K | $7.5M | 50x | as long as short |
| Paradex BTC-USD-PERP | +0.0100% | 8h | 85,766.6 | −0.045% | $3.8M | $8.7M | 50x | as long as short |
| Hyperliquid BTC | +0.0100% | 1h | 85,909 | +0.121% | $3.77B | $5.04B | 40x | as long as short |
| Pacifica BTC | +0.0100% | 1h | 85,775.8 | −0.034% | $40.9M | $569.6M | 50x | as long as short |
| Bybit BTCUSDT | +0.0100% | 8h | 85,859.8 | +0.064% | $5.28B | $9.81B | 150x | as long as short |
| OKX BTC-USDT-SWAP | +0.0100% | 8h | 85,859.9 | +0.064% | $2.55B | $12.54B | 100x | as long as short |
| Ondo Perps BTC-USD.P | +0.0100% | 1h | 85,758 | −0.055% | $3.9M | $17.8M | 25x | as long as short |
| Arcus BTC-USD | +0.0100% | 1h | 85,745.2 | −0.070% | $7.3M | $98.1M | 40x | as long as short |
| Backpack BTC_USDC_PERP | +0.0100% | 1h | 85,817.8 | +0.015% | $35.2M | $163.5M | 75x | as long as short |
| Variational Omni BTC | +0.0100% | 8h | 85,783.2 | −0.025% | $155.9M | $552.3M | — | as long as short |
| edgeX BTCUSDC | +0.0100% | 4h | 85,787.3 | −0.020% | $278.0M | $944.2M | 100x | as long as short |
| GRVT BTC_USDT_Perp | +0.0100% | 8h | 85,857.1 | +0.061% | $215.7M | $163.7M | 50x | as long as short |
| StandX BTC-USD | +0.0100% | 1h | 85,750 | −0.064% | $30.3M | $207.5M | 40x | as long as short |
| Vest BTC-PERP | +0.0100% | 1h | 85,816.9 | +0.014% | — | $11.8M | 50x | as long as short |
| Polymarket Perps BTC-USD | +0.0100% | 1h | 85,769 | −0.042% | $11.0M | $14.2M | 50x | as long as short |
| Bullet BTC-USD | +0.0100% | 1h | 85,791 | −0.016% | $191K | $3.3M | 20x | as long as short |
| Orderly PERP_BTC_USDC | +0.0100% | 8h | 85,820.3 | +0.018% | $2.4M | $9.1M | 100x | as long as short |
| Bluefin BTC-PERP | +0.0100% | 1h | 85,863.3 | +0.068% | $186K | $710K | 40x | as long as short |
| Derive BTC-PERP | +0.0100% | 1h | 85,833.1 | +0.033% | $30.0M | $57.4M | 15x | as long as short |
| SunX BTC-USDT | +0.0100% | 8h | 85,757 | −0.056% | $2.9M | $6.6M | 100x | as long as short |
| SoDEX BTC-USD | +0.0100% | 1h | 85,822 | +0.020% | $60.1M | $337.9M | 40x | as long as short |
| Phemex BTCUSDT | +0.0100% | 8h | 85,820.8 | +0.019% | $154.3M | $479.5M | 150x | as long as short |
| Bulk BTC-USDlong | +0.0100% | 1h | 85,804.9 | long leg | $582.3M | $118.5M | 40x | |
| Extended BTC-USD | +0.0104% | 1h | 85,800.3 | −0.005% | $44.9M | $227.5M | 50x | as long as short |
| Jupiter Perps WBTC-PERP | L +0.0104% / S +0.0056% | 1h | 85,754.4 | −0.059% | — | $101.4M | 500x | as long as short |
| Coinbase International BTC-PERP-INTX | +0.0112% | 1h | 85,858.2 | +0.062% | $131.8M | $5.26B | 50x | as long as short |
| Hibachi BTC/USDT-P | +0.0136% | 1h | 85,756.8 | −0.056% | $706K | $7.9M | 30x | as long as short |
| Kraken Futures PF_XBTUSD | +0.0146% | 1h | 85,848.5 | +0.051% | $189.1M | $970.5M | 100x | as long as short |
| Aftermath Perps BTCUSD | +0.0152% | 1h | 85,809.7 | +0.006% | $77K | $217K | 20x | as long as short |
| Deribit BTC-PERPETUAL | +0.0160% | 1h | 85,862.6 | +0.067% | $895.7M | $1.54B | 50x | as long as short |
| GMX BTC/USD [WBTC.b-USDC]short | L +0.0204% / S −0.0194% | 1h | 85,794.6 | −0.012% | $13.8M | — | 200x | |
| Kalshi KXBTCPERP | +0.0205% | 8h | 85,788 | −0.020% | $10.0M | $769.6M | 6.4x | as long as short |
RISEx BTC/USDC
BingX BTC-USDC
Reya BTCRUSDPERP
Bitget BTCUSDT
ApeX Omni BTCUSDT
HTX BTC-USDT
Nado BTC-PERP
Binance BTCUSDT
MEXC BTC_USDT
Aevo BTC-PERP
Gate BTC_USDT
Lighter BTC
Lighter RH BTC
Popdex BTCUSDT
Katana Perps BTC-USD
Paradex BTC-USD-PERP
Hyperliquid BTC
Pacifica BTC
Bybit BTCUSDT
OKX BTC-USDT-SWAP
Ondo Perps BTC-USD.P
Arcus BTC-USD
Backpack BTC_USDC_PERP
Variational Omni BTC
edgeX BTCUSDC
GRVT BTC_USDT_Perp
StandX BTC-USD
Vest BTC-PERP
Polymarket Perps BTC-USD
Bullet BTC-USD
Orderly PERP_BTC_USDC
Bluefin BTC-PERP
Derive BTC-PERP
SunX BTC-USDT
SoDEX BTC-USD
Phemex BTCUSDT
Extended BTC-USD
Jupiter Perps WBTC-PERP
Coinbase International BTC-PERP-INTX
Hibachi BTC/USDT-P
Kraken Futures PF_XBTUSD
Aftermath Perps BTCUSD
Deribit BTC-PERPETUAL
Kalshi KXBTCPERP