BTC

Alert

Funding spread now, next payment 18:00 UTC−0.0085%/8h

next payment, per $10,000−$0.11paid, last 24h−0.023%paid, last 7 days+0.054%to open and close $10k−$15

Long on Deribit Short on Polymarket Perps

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit BTC-PERPETUAL	85,967.7	0.0185	pay 0.0023% / 1h	16m 40s	$915.4M	$1.10B	50x
Short	Polymarket Perps BTC-USD	85,916	0.0100	get 0.0013% / 1h	16m 40s	$11.0M	$11.7M	50x

Funding history

latest

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Funding on every exchange

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Profit calculator

Position, each leg$Hold fordaysFee DeribitbpFee Polymarket PerpsbpOrdersRate

Funding earned: −$17.9
Slippage, 4 orders: −$0.36
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: −$33.26
Break-even: never at this rate

Slippage from Deribit: live order book, 4 min ago; Polymarket Perps: live order book, 4 min ago.

Price risk

price view

Price gap now: −0.060%
Avg gap 7d: −0.047%

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, 4 min ago	0.03 bp	3.5 bp −$4	3.6 bp −$36	7.1 bp −$713	11.0 bp −$5,512
Sell Polymarket Perps live order book, 4 min ago	0.06 bp	4.2 bp −$4	5.6 bp −$56	7.7 bp −$769	doesn't fit

BTC on 55 venues

lowest funding first. Swap a leg.

Exchange	Funding /8h	Every	OI	Vol 24h	Max lev
Bluefin BTC-PERP	−0.1335%	1h	$143K	$410K	40x	as long as short
Arcus BTC-USD	−0.0377%	1h	$6.9M	$85.3M	40x	as long as short
Perpl BTC	−0.0223%	43m	$390K	$26.6M	6.7x	as long as short
Phoenix BTC	−0.0096%	1h	$1.9M	$11.0M	40x	as long as short
BloFin BTC-USDT	−0.0096%	8h	$423.6M	$567.2M	150x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	$9K	$4K	50x	as long as short
ApeX Omni BTCUSDT	−0.0076%	1h	$139.2M	$319.3M	100x	as long as short
Kraken Futures PF_XBTUSD	−0.0073%	1h	$190.5M	$811.9M	100x	as long as short
01 Exchange BTCUSD	−0.0056%	1h	$309K	$2.4M	50x	as long as short
dYdX BTC-USD	−0.0021%	1h	$17.1M	$18.1M	50x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	OI	Vol 24h	Max lev
Injective BTC/USDC PERP	−0.0019%	1h	$308K	$27.0M	52x	as long as short
Reya BTCRUSDPERP	−0.0017%	1h	$6.7M	$138.2M	40x	as long as short
Bulk BTC-USD	−0.0015%	1h	$560.8M	$139.1M	40x	as long as short
SoDEX BTC-USD	−0.0005%	1h	$60.9M	$284.3M	40x	as long as short
Bitget BTCUSDT	−0.0004%	8h	$2.96B	$4.68B	150x	as long as short
BingX BTC-USDC	−0.0004%	8h	—	$14.7M	—	as long as short
KuCoin XBTUSDTM	−0.0003%	8h	$796.5M	$615.1M	125x	as long as short
Gate BTC_USDT	+0.0004%	8h	$6.07B	$9.59B	200x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0005% / S −0.0004%	1h	$36.8M	—	200x	as long as short
Aster BTCUSDT	+0.0013%	8h	$504.8M	$1.10B	200x	as long as short
Phemex BTCUSDT	+0.0015%	8h	$147.9M	$417.2M	150x	as long as short
Bybit BTCUSDT	+0.0015%	8h	$5.25B	$8.59B	150x	as long as short
OKX BTC-USDT-SWAP	+0.0016%	8h	$2.66B	$11.54B	100x	as long as short
MEXC BTC_USDT	+0.0024%	8h	$5.17B	$5.16B	500x	as long as short
Aevo BTC-PERP	+0.0024%	1h	$2.4M	$1.3M	20x	as long as short
Binance BTCUSDT	+0.0024%	8h	$9.47B	$22.07B	150x	as long as short
Extended BTC-USD	+0.0032%	1h	$48.7M	$199.8M	50x	as long as short
RISEx BTC/USDC	+0.0040%	1h	$9.1M	$38.6M	25x	as long as short
Popdex BTCUSDT	+0.0048%	1h	$8.5M	$46.5M	100x	as long as short
Aftermath Perps BTCUSD	+0.0061%	1h	$86K	$154K	20x	as long as short
Variational Omni BTC	+0.0065%	8h	$171.9M	$505.5M	—	as long as short
StandX BTC-USD	+0.0072%	1h	$30.7M	$221.1M	40x	as long as short
Lighter BTC	+0.0096%	1h	$171.6M	$944.9M	50x	as long as short
Lighter RH BTC	+0.0096%	1h	$24.5M	$137.7M	50x	as long as short
Paradex BTC-USD-PERP	+0.0097%	8h	$4.4M	$6.8M	50x	as long as short
HTX BTC-USDT	+0.0097%	8h	$2.29B	$835.4M	200x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	$187K	$5.8M	50x	as long as short
Nado BTC-PERP	+0.0100%	1h	$23.4M	$227.4M	50x	as long as short
Pacifica BTC	+0.0100%	1h	$36.9M	$400.4M	50x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	$3.9M	$16.8M	25x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	$37.2M	$127.3M	75x	as long as short
edgeX BTCUSDC	+0.0100%	4h	$280.4M	$880.5M	100x	as long as short
Vest BTC-PERP	+0.0100%	1h	—	$11.5M	50x	as long as short
Polymarket Perps BTC-USDshort	+0.0100%	1h	$11.0M	$11.7M	50x
Bullet BTC-USD	+0.0100%	1h	$238K	$3.3M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	$2.4M	$7.4M	100x	as long as short
Derive BTC-PERP	+0.0100%	1h	$30.4M	$59.0M	15x	as long as short
SunX BTC-USDT	+0.0100%	8h	$3.4M	$5.8M	100x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0048%	1h	—	$84.8M	500x	as long as short
Kalshi KXBTCPERP	+0.0106%	8h	$13.1M	$639.3M	6.4x	as long as short
Hibachi BTC/USDT-P	+0.0120%	1h	$759K	$7.0M	30x	as long as short
Hyperliquid BTC	+0.0154%	1h	$3.92B	$4.40B	40x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0172% / S −0.0153%	1h	$12.7M	—	200x	as long as short
Coinbase International BTC-PERP-INTX	+0.0184%	1h	$129.0M	$5.89B	50x	as long as short
Deribit BTC-PERPETUALlong	+0.0185%	1h	$915.4M	$1.10B	50x