BTC

Alert

Funding spread now, next payment 14:00 UTC−0.0247%/8h

paid, last 24h−0.021%paid, last 7 days−0.029%to open and close $10k−$20

The current rate is far above what this pair has been paying: over the last 7 days it paid -0.029% in total (about -1.5% 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	Deribit BTC-PERPETUAL	85,015.4	0.0284	pay 0.0035% / 1h	30m 59s	$829.4M	$852.1M	50x
Short	Phemex BTCUSDT	84,932.4	0.0037	get 0.0037% / 8h	2h 30m	$162.4M	$353.8M	150x

Funding history

latest

Range statsloading…

Funding on every exchange

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latest

Profit calculator

Position, each leg$Hold fordaysFee DeribitbpFee PhemexbpOrdersRate

Funding earned: −$51.92
Slippage, 4 orders: −$0.54
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$71.46
Break-even: never at this rate

Slippage from Deribit: live order book, 5 min ago; Phemex: live order book, 5 min ago.

Price risk

price view

Price gap now: −0.098%
Avg gap 7d: −0.046%

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 Deribit live order book, 5 min ago	0.03 bp	3.5 bp −$4	4.2 bp −$42	6.3 bp −$634	10.0 bp −$4,993
Sell Phemex live order book, 5 min ago	0.01 bp	6.0 bp −$6	6.8 bp −$68	7.8 bp −$777	doesn't fit

BTC on 55 venues

lowest funding first. Swap a leg.

Exchange	Funding /8h	Every	OI	Vol 24h	Max lev
Perpl BTC	−0.0447%	43m	$429K	$31.9M	6.7x	as long as short
ApeX Omni BTCUSDT	−0.0187%	1h	$136.8M	$314.2M	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	$9K	$2K	50x	as long as short
Gate BTC_USDT	−0.0053%	8h	$6.01B	$7.83B	200x	as long as short
Reya BTCRUSDPERP	−0.0047%	1h	$6.7M	$129.2M	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	−0.0015%	8h	$2.92B	$3.97B	150x	as long as short
BingX BTC-USDT	−0.0015%	8h	—	$1.17B	—	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	OI	Vol 24h	Max lev
Aftermath Perps BTCUSD	−0.0004%	1h	$83K	$136K	20x	as long as short
HTX BTC-USDT	−0.0004%	8h	$2.28B	$730.8M	200x	as long as short
SoDEX BTC-USD	−0.0002%	1h	$60.9M	$233.4M	40x	as long as short
dYdX BTC-USD	0.0000%	1h	$16.1M	$13.4M	50x	as long as short
Kalshi KXBTCPERP	0.0000%	8h	$8.6M	$449.7M	6.4x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0004% / S −0.0004%	1h	$36.4M	—	200x	as long as short
Phemex BTCUSDTshort	+0.0037%	8h	$162.4M	$353.8M	150x
Backpack BTC_USDC_PERP	+0.0047%	1h	$39.8M	$102.5M	75x	as long as short
Aster BTCUSDT	+0.0049%	8h	$489.0M	$869.4M	200x	as long as short
Popdex BTCUSDT	+0.0056%	1h	$8.4M	$36.5M	100x	as long as short
OKX BTC-USDT-SWAP	+0.0071%	8h	$2.54B	$9.89B	100x	as long as short
Nado BTC-PERP	+0.0074%	1h	$22.6M	$204.6M	50x	as long as short
KuCoin XBTUSDTM	+0.0077%	8h	$802.2M	$546.3M	125x	as long as short
Bullet BTC-USD	+0.0083%	1h	$227K	$3.3M	20x	as long as short
RISEx BTC/USDC	+0.0090%	1h	$8.4M	$35.6M	25x	as long as short
Lighter BTC	+0.0096%	1h	$188.4M	$775.0M	50x	as long as short
Lighter RH BTC	+0.0096%	1h	$24.9M	$122.2M	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
StandX BTC-USD	+0.0099%	1h	$30.3M	$249.1M	40x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	$224K	$4.5M	50x	as long as short
Pacifica BTC	+0.0100%	1h	$36.4M	$289.3M	50x	as long as short
Binance BTCUSDT	+0.0100%	8h	$9.48B	$17.88B	150x	as long as short
Bybit BTCUSDT	+0.0100%	8h	$5.04B	$7.16B	150x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	$3.9M	$14.8M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	$6.8M	$72.9M	40x	as long as short
MEXC BTC_USDT	+0.0100%	8h	$5.06B	$4.32B	500x	as long as short
Variational Omni BTC	+0.0100%	8h	$171.5M	$441.5M	—	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-PERP	+0.0100%	1h	$141K	$355K	40x	as long as short
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	$47.0M	$173.1M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0048%	1h	—	$79.3M	500x	as long as short
Coinbase International BTC-PERP-INTX	+0.0120%	1h	$139.5M	$5.86B	50x	as long as short
Kraken Futures PF_XBTUSD	+0.0124%	1h	$185.8M	$699.1M	100x	as long as short
Phoenix BTC	+0.0126%	1h	$1.5M	$10.3M	40x	as long as short
Hyperliquid BTC	+0.0148%	1h	$3.82B	$3.80B	40x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0190% / S −0.0196%	1h	$12.8M	—	200x	as long as short
BloFin BTC-USDT	+0.0220%	8h	$418.6M	$404.2M	150x	as long as short
Hibachi BTC/USDT-P	+0.0240%	1h	$652K	$7.5M	30x	as long as short
Deribit BTC-PERPETUALlong	+0.0284%	1h	$829.4M	$852.1M	50x