Funding you earn now, next payment 08:07 UTC+0.0347%/8h= +37.9% APRpaid last 24h −0.044%
Price spread now: Perpl against Bulk+0.037%7-day average +0.012% · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 4 days (all we have)+0.072%+$7 on $10k
+Price spread, last 7 days−0.008%−$1 · spread now +0.037%, 7d avg +0.012%
=Together, before fees+0.063%+ Points / potential airdropPerpl: Active · farm board+$6 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$10 a day on $10k at the current rate, and Perpl is 0.024% dearer against Bulk than usual: you sell high and buy low: +$2 more if the spread goes back to its 7-day average of +0.012%.
The current funding rate is far above what this pair has been paying: over the last 4 days it paid 0.072% in total (about 7.0% a year). A funding rate is set anew for every payment. 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 | Bulk BTC-USD | 85,453 | 0.0100 | pay 0.0013% / 1h | 47m 50s | $700.3M | $171.9M | 40x |
| Short | Perpl BTC | 85,484.2 | 0.0447 | get 0.0040% / 43m | 19m 50s | $468K | $18.4M | 6.7x |
Bulk BTC-USD
Perpl BTCFunding history
latest
Range statsloading…
Price spread between the two exchanges
Perpl 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
- $72.77
- Price spread: +0.037% → +0.012%
- $2.45
- Slippage, 4 orders
- no order book: not counted
- Fee Bulk: 3.5 bp × 2 orders
- −$7
- Fee Perpl: 6.9 bp × 2 orders
- −$13.8
- Net
- $54.42
- Costs to cover
- 0.208%
- Break-even
- 1.8 days
Slippage unknown: Bulk: live order book, 1 min ago; Perpl: 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, 1 min ago | 0.01 bp | 3.5 bp −$4 | 3.5 bp −$35 | 3.5 bp −$351 | 3.6 bp −$1,799 |
| Sell Perpl no order-book sample | — | — | — | — | — |
Perpl: 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 | |
|---|---|---|---|---|---|---|---|---|
| Hotstuff BTC-PERP | −0.0080% | 1h | 85,465 | +0.014% | $8K | $2K | 50x | as long as short |
| BloFin BTC-USDT | −0.0020% | 8h | 85,461.7 | +0.010% | $422.8M | $681.9M | 150x | as long as short |
| Injective BTC/USDC PERP | −0.0006% | 1h | 85,467 | +0.016% | $307K | $23.3M | 52x | as long as short |
| 01 Exchange BTCUSD | 0.0000% | 1h | 85,474 | +0.025% | $344K | $2.3M | 50x | as long as short |
| gTrade (Gains Network) BTC/USD | L +0.0004% / S −0.0004% | 1h | 85,497.1 | +0.052% | $36.6M | — | 200x | as long as short |
| KuCoin XBTUSDTM | +0.0008% | 8h | 85,483.8 | +0.036% | $932.6M | $776.6M | 125x | as long as short |
| Aster BTCUSDT | +0.0029% | 8h | 85,481.7 | +0.034% | $502.5M | $1.08B | 200x | as long as short |
| dYdX BTC-USD | +0.0033% | 1h | 85,475.8 | +0.027% | $16.7M | $21.0M | 50x | as long as short |
| Kraken Futures PF_XBTUSD | +0.0068% | 1h | 85,501.4 | +0.057% | $186.4M | $949.3M | 100x | as long as short |
| Phoenix BTC | +0.0075% | 1h | 85,516 | +0.074% | $2.3M | $10.4M | 40x | as long as short |
Hotstuff BTC-PERP
BloFin BTC-USDT
Injective BTC/USDC PERP
01 Exchange BTCUSD
gTrade (Gains Network) BTC/USD
KuCoin XBTUSDTM
Aster BTCUSDT
dYdX BTC-USD
Kraken Futures PF_XBTUSD
Phoenix BTCShow all 56 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| BingX BTC-USDT | +0.0080% | 8h | 85,484.3 | +0.037% | — | $1.58B | — | as long as short |
| Lighter BTC | +0.0096% | 1h | 85,502.3 | +0.058% | $170.4M | $941.4M | 50x | as long as short |
| Lighter RH BTC | +0.0096% | 1h | 85,501.8 | +0.057% | $23.6M | $133.7M | 50x | as long as short |
| Popdex BTCUSDT | +0.0096% | 1h | 85,468 | +0.018% | $8.7M | $58.4M | 100x | as long as short |
| Aevo BTC-PERP | +0.0096% | 1h | 85,477.2 | +0.028% | $2.4M | $6.7M | 20x | as long as short |
| Deribit BTC-PERPETUAL | +0.0096% | 1h | 85,524.3 | +0.083% | $831.2M | $1.66B | 50x | as long as short |
| Katana Perps BTC-USD | +0.0100% | 8h | 85,442 | −0.013% | $265K | $8.7M | 50x | as long as short |
| Paradex BTC-USD-PERP | +0.0100% | 8h | 85,491.8 | +0.045% | $5.7M | $9.6M | 50x | as long as short |
| Nado BTC-PERP | +0.0100% | 1h | 85,456.5 | +0.004% | $24.1M | $218.8M | 50x | as long as short |
| Pacifica BTC | +0.0100% | 1h | 85,481.4 | +0.033% | $40.1M | $605.5M | 50x | as long as short |
| Binance BTCUSDT | +0.0100% | 8h | 85,485.7 | +0.038% | $9.41B | $25.11B | 150x | as long as short |
| Bybit BTCUSDT | +0.0100% | 8h | 85,482.1 | +0.034% | $5.09B | $10.01B | 150x | as long as short |
| OKX BTC-USDT-SWAP | +0.0100% | 8h | 85,490.2 | +0.044% | $2.61B | $12.23B | 100x | as long as short |
| Ondo Perps BTC-USD.P | +0.0100% | 1h | 85,469 | +0.019% | $3.9M | $17.3M | 25x | as long as short |
| Arcus BTC-USD | +0.0100% | 1h | 85,470 | +0.020% | $4.6M | $97.5M | 40x | as long as short |
| Bulk BTC-USDlong | +0.0100% | 1h | 85,453 | long leg | $700.3M | $171.9M | 40x | |
| Gate BTC_USDT | +0.0100% | 8h | 85,486.1 | +0.039% | $5.50B | $9.86B | 200x | as long as short |
| MEXC BTC_USDT | +0.0100% | 8h | 85,487.9 | +0.041% | $5.06B | $5.72B | 500x | as long as short |
| Bitget BTCUSDT | +0.0100% | 8h | 85,483.4 | +0.036% | $2.98B | $5.17B | 150x | as long as short |
| Backpack BTC_USDC_PERP | +0.0100% | 1h | 85,480.4 | +0.032% | $37.8M | $193.8M | 75x | as long as short |
| Variational Omni BTC | +0.0100% | 8h | 85,465.8 | +0.015% | $155.8M | $547.5M | — | as long as short |
| edgeX BTCUSDC | +0.0100% | 4h | 85,416.6 | −0.043% | $283.2M | $960.3M | 100x | as long as short |
| GRVT BTC_USDT_Perp | +0.0100% | 8h | 85,448.6 | −0.005% | $214.4M | $157.3M | 50x | as long as short |
| ApeX Omni BTCUSDT | +0.0100% | 1h | 85,449.8 | −0.004% | $136.7M | $313.1M | 100x | as long as short |
| StandX BTC-USD | +0.0100% | 1h | 85,472.1 | +0.022% | $30.1M | $217.7M | 40x | as long as short |
| Vest BTC-PERP | +0.0100% | 1h | 85,548.9 | +0.112% | — | $9.7M | 50x | as long as short |
| Polymarket Perps BTC-USD | +0.0100% | 1h | 85,259 | −0.227% | $10.9M | $14.9M | 50x | as long as short |
| Bullet BTC-USD | +0.0100% | 1h | 85,490.7 | +0.044% | $200K | $3.3M | 20x | as long as short |
| Orderly PERP_BTC_USDC | +0.0100% | 8h | 85,490.3 | +0.044% | $2.7M | $9.9M | 100x | as long as short |
| Bluefin BTC-PERP | +0.0100% | 1h | 85,531.1 | +0.091% | $194K | $796K | 40x | as long as short |
| SunX BTC-USDT | +0.0100% | 8h | 85,503 | +0.059% | $2.9M | $6.5M | 100x | as long as short |
| SoDEX BTC-USD | +0.0100% | 1h | 85,483 | +0.035% | $59.8M | $336.7M | 40x | as long as short |
| HTX BTC-USDT | +0.0100% | 8h | 85,483.9 | +0.036% | $2.26B | $974.9M | 200x | as long as short |
| Phemex BTCUSDT | +0.0100% | 8h | 85,490.3 | +0.044% | $160.6M | $517.3M | 150x | as long as short |
| Extended BTC-USD | +0.0104% | 1h | 85,466.5 | +0.016% | $45.7M | $241.7M | 50x | as long as short |
| Jupiter Perps WBTC-PERP | L +0.0104% / S +0.0056% | 1h | 85,474.3 | +0.025% | — | $107.4M | 500x | as long as short |
| Coinbase International BTC-PERP-INTX | +0.0112% | 1h | 85,532.4 | +0.093% | $111.6M | $5.46B | 50x | as long as short |
| Reya BTCRUSDPERP | +0.0147% | 1h | 85,479.1 | +0.031% | $6.6M | $139.4M | 40x | as long as short |
| GMX BTC/USD [WBTC.b-USDC] | L +0.0174% / S −0.0148% | 1h | 85,493.4 | +0.047% | $13.0M | — | 200x | as long as short |
| Kalshi KXBTCPERP | +0.0187% | 8h | 85,499 | +0.054% | $10.6M | $739.2M | 6.4x | as long as short |
| RISEx BTC/USDC | +0.0194% | 1h | 85,488.6 | +0.042% | $8.9M | $42.8M | 25x | as long as short |
| Hyperliquid BTC | +0.0227% | 1h | 85,561 | +0.126% | $3.81B | $5.14B | 40x | as long as short |
| Derive BTC-PERP | +0.0240% | 1h | 85,554.9 | +0.119% | $28.9M | $49.3M | 15x | as long as short |
| Aftermath Perps BTCUSD | +0.0290% | 1h | 85,452.5 | −0.001% | $81K | $246K | 20x | as long as short |
| Hibachi BTC/USDT-P | +0.0344% | 1h | 85,508.2 | +0.065% | $688K | $7.7M | 30x | as long as short |
| Perpl BTCshort | +0.0447% | 43m | 85,484.2 | +0.037% | $468K | $18.4M | 6.7x |
BingX BTC-USDT
Lighter BTC
Lighter RH BTC
Popdex BTCUSDT
Aevo BTC-PERP
Deribit BTC-PERPETUAL
Katana Perps BTC-USD
Paradex BTC-USD-PERP
Nado BTC-PERP
Pacifica BTC
Binance BTCUSDT
Bybit BTCUSDT
OKX BTC-USDT-SWAP
Ondo Perps BTC-USD.P
Arcus BTC-USD
Gate BTC_USDT
MEXC BTC_USDT
Bitget BTCUSDT
Backpack BTC_USDC_PERP
Variational Omni BTC
edgeX BTCUSDC
GRVT BTC_USDT_Perp
ApeX Omni BTCUSDT
StandX BTC-USD
Vest BTC-PERP
Polymarket Perps BTC-USD
Bullet BTC-USD
Orderly PERP_BTC_USDC
Bluefin BTC-PERP
SunX BTC-USDT
SoDEX BTC-USD
HTX BTC-USDT
Phemex BTCUSDT
Extended BTC-USD
Jupiter Perps WBTC-PERP
Coinbase International BTC-PERP-INTX
Reya BTCRUSDPERP
GMX BTC/USD [WBTC.b-USDC]
Kalshi KXBTCPERP
RISEx BTC/USDC
Hyperliquid BTC
Derive BTC-PERP
Aftermath Perps BTCUSD
Hibachi BTC/USDT-P