BTC

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0012%/8h= −1.3% APRpaid last 24h −0.012%

Price spread now: Variational Omni against Coinbase International−0.007%7-day average −0.054% · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Coinbase International Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.022%−$2 on $10k

Price spread, last 3 days (all we have)−0.034%−$3 · spread now −0.007%, 7d avg −0.054%

Together, before fees−0.056%+ Points / potential airdropVariational Omni: Active · farm board−$6 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Variational Omni is 0.047% dearer against Coinbase International than usual: you sell high and buy low (spread −0.007% now, against its 7-day average of −0.054%): +$5 on $10k if it goes back. Holding the pair costs $0 a day in funding at the current rate, which eats that in about 13 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International BTC-PERP-INTX	86,505	0.0112	pay 0.0014% / 1h	18m 53s	$131.8M	$5.70B	50x
Short	Variational Omni BTC	86,498.8	0.0100	get 0.0100% / 8h	1h 18m	$156.2M	$568.5M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against Coinbase International. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee Coinbase InternationalbpFee Variational OmnibpOrdersPrice spread, now −0.007%Rate

Funding earned: −$2.52
Price spread: −0.007% → −0.054%: $4.71
Slippage, 4 orders: no order book: not counted
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$7.81
Costs to cover: 0.100%
Break-even: never at this rate

Slippage unknown: Coinbase International: live order book, 5 min ago; Variational Omni: RFQ quote, 5 min ago. 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 Coinbase International live order book, 5 min ago	0.01 bp	5.0 bp −$5	5.0 bp −$50	5.1 bp −$515	11.6 bp −$5,798
Sell Variational Omni RFQ quote, 5 min ago	0.51 bp	doesn't fit	0.5 bp −$5	2.8 bp −$280	doesn't fit

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
Bluefin BTC-PERP	−0.0860%	1h	86,490.3	−0.017%	$140K	$620K	40x	as long as short
Phoenix BTC	−0.0159%	1h	86,503	−0.002%	$2.2M	$11.8M	40x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	86,472	−0.038%	$9K	$3K	50x	as long as short
Aster BTCUSDT	−0.0009%	8h	86,459.2	−0.053%	$504.2M	$1.15B	200x	as long as short
01 Exchange BTCUSD	−0.0008%	1h	86,467	−0.044%	$358K	$2.4M	50x	as long as short
Perpl BTC	0.0000%	43m	86,482	−0.027%	$424K	$23.7M	6.7x	as long as short
Aftermath Perps BTCUSD	0.0000%	1h	86,527.9	+0.026%	$82K	$217K	20x	as long as short
KuCoin XBTUSDTM	+0.0002%	8h	86,463.3	−0.048%	$851.0M	$711.6M	125x	as long as short
dYdX BTC-USD	+0.0004%	1h	86,497.2	−0.009%	$17.0M	$21.1M	50x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0005% / S −0.0004%	1h	86,498.3	−0.008%	$36.8M	—	200x	as long as short

Show all 56 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
RISEx BTC/USDC	+0.0006%	1h	86,471.6	−0.039%	$8.5M	$43.0M	25x	as long as short
Deribit BTC-PERPETUAL	+0.0014%	1h	86,501.4	−0.004%	$920.9M	$1.48B	50x	as long as short
Reya BTCRUSDPERP	+0.0023%	1h	86,474.2	−0.036%	$6.7M	$145.0M	40x	as long as short
Injective BTC/USDC PERP	+0.0024%	1h	86,559	+0.062%	$315K	$26.8M	52x	as long as short
Phemex BTCUSDT	+0.0034%	8h	86,466	−0.045%	$149.8M	$476.9M	150x	as long as short
BingX BTC-USDC	+0.0035%	8h	86,445.9	−0.068%	—	$15.3M	—	as long as short
Bitget BTCUSDT	+0.0045%	8h	86,456.9	−0.056%	$2.95B	$5.10B	150x	as long as short
MEXC BTC_USDT	+0.0064%	8h	86,464.9	−0.046%	$5.14B	$5.69B	500x	as long as short
Aevo BTC-PERP	+0.0064%	1h	86,468	−0.043%	$2.4M	$1.3M	20x	as long as short
Binance BTCUSDT	+0.0064%	8h	86,460.6	−0.051%	$9.43B	$24.42B	150x	as long as short
Gate BTC_USDT	+0.0079%	8h	86,460.7	−0.051%	$5.84B	$10.73B	200x	as long as short
Hibachi BTC/USDT-P	+0.0088%	1h	86,561.8	+0.066%	$717K	$8.2M	30x	as long as short
Bybit BTCUSDT	+0.0092%	8h	86,460.2	−0.052%	$5.25B	$9.77B	150x	as long as short
Lighter BTC	+0.0096%	1h	86,481.5	−0.027%	$170.5M	$1.01B	50x	as long as short
Lighter RH BTC	+0.0096%	1h	86,492	−0.015%	$24.1M	$152.4M	50x	as long as short
Popdex BTCUSDT	+0.0096%	1h	86,468	−0.043%	$8.5M	$52.4M	100x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	86,443	−0.072%	$205K	$6.9M	50x	as long as short
Paradex BTC-USD-PERP	+0.0100%	8h	86,509.8	+0.006%	$4.8M	$8.5M	50x	as long as short
Nado BTC-PERP	+0.0100%	1h	86,470.9	−0.039%	$22.0M	$234.4M	50x	as long as short
Hyperliquid BTC	+0.0100%	1h	86,534	+0.034%	$3.80B	$5.09B	40x	as long as short
Pacifica BTC	+0.0100%	1h	86,500.1	−0.006%	$40.8M	$513.8M	50x	as long as short
OKX BTC-USDT-SWAP	+0.0100%	8h	86,458	−0.054%	$2.54B	$12.73B	100x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	86,471	−0.039%	$3.9M	$18.6M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	86,530.2	+0.029%	$7.4M	$94.3M	40x	as long as short
Bulk BTC-USD	+0.0100%	1h	86,498.7	−0.007%	$571.7M	$18.6M	40x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	86,463.1	−0.048%	$37.8M	$155.1M	75x	as long as short
Variational Omni BTCshort	+0.0100%	8h	86,498.8	−0.007%	$156.2M	$568.5M	—
edgeX BTCUSDC	+0.0100%	4h	86,531.2	+0.030%	$279.7M	$948.9M	100x	as long as short
GRVT BTC_USDT_Perp	+0.0100%	8h	86,518.2	+0.015%	$217.2M	$175.8M	50x	as long as short
ApeX Omni BTCUSDT	+0.0100%	1h	86,540.1	+0.041%	$141.5M	$323.4M	100x	as long as short
StandX BTC-USD	+0.0100%	1h	86,483	−0.025%	$30.7M	$203.6M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	86,526	+0.024%	—	$11.6M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	86,480	−0.029%	$11.1M	$13.7M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	86,482	−0.027%	$190K	$3.3M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	86,473.6	−0.036%	$2.4M	$8.7M	100x	as long as short
Derive BTC-PERP	+0.0100%	1h	86,466.1	−0.045%	$30.3M	$61.6M	15x	as long as short
SunX BTC-USDT	+0.0100%	8h	86,463.2	−0.048%	$3.4M	$5.4M	100x	as long as short
SoDEX BTC-USD	+0.0100%	1h	86,467	−0.044%	$60.4M	$337.2M	40x	as long as short
HTX BTC-USDT	+0.0100%	8h	86,466.8	−0.044%	$2.30B	$968.6M	200x	as long as short
Extended BTC-USD	+0.0104%	1h	86,442.2	−0.073%	$45.5M	$226.1M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0048%	1h	86,478.7	−0.030%	—	$98.7M	500x	as long as short
Coinbase International BTC-PERP-INTXlong	+0.0112%	1h	86,505	long leg	$131.8M	$5.70B	50x
Kraken Futures PF_XBTUSD	+0.0121%	1h	86,489.3	−0.018%	$191.3M	$943.7M	100x	as long as short
BloFin BTC-USDT	+0.0184%	8h	86,473.9	−0.036%	$414.0M	$654.4M	150x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0185% / S −0.0211%	1h	86,490.7	−0.017%	$15.2M	—	200x	as long as short
Kalshi KXBTCPERP	+0.0198%	8h	86,500	−0.006%	$9.7M	$733.9M	6.4x	as long as short