BTC

Alert

Funding spread now, next payment 17:00 UTC−0.0081%/8h

next payment, per $10,000−$0.10paid, last 24h−0.007%paid, last 3 days−0.019%to open and closeno order book

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Derive BTC-PERP	85,780.5	0.0100	pay 0.0013% / 1h	24m 16s	$30.3M	$60.7M	15x
Short	Bulk BTC-USD	85,754.9	0.0019	get 0.0002% / 1h	24m 16s	$558.8M	$146.4M	40x

Funding history

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Funding on every exchange

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Profit calculator

Position, each leg$Hold fordaysFee DerivebpFee BulkbpOrdersRate

Funding earned: −$16.99
Slippage, 4 orders: no order book: not counted
Fee Derive: 3 bp × 2 orders: −$6
Fee Bulk: 3.5 bp × 2 orders: −$7
Net: −$29.99
Break-even: never at this rate

Slippage unknown: Derive: no order-book sample; Bulk: live order book, 1 min ago. Net counts fees only.

Price risk

price view

Price gap now: −0.030%
Avg gap 7d: +0.014%

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 Derive no order-book sample	—	—	—	—	—
Sell Bulk live order book, 1 min ago	0.03 bp	3.5 bp −$4	3.5 bp −$35	3.9 bp −$394	5.4 bp −$2,725

Derive: 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 55 venues

lowest funding first. Swap a leg.

Exchange	Funding /8h	Every	OI	Vol 24h	Max lev
Bluefin BTC-PERP	−0.8000%	1h	$142K	$408K	40x	as long as short
Perpl BTC	−0.0335%	43m	$399K	$28.0M	6.7x	as long as short
Injective BTC/USDC PERP	−0.0137%	1h	$308K	$27.0M	52x	as long as short
Phoenix BTC	−0.0116%	1h	$1.9M	$11.4M	40x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	$9K	$4K	50x	as long as short
BloFin BTC-USDT	−0.0077%	8h	$421.3M	$565.6M	150x	as long as short
01 Exchange BTCUSD	−0.0056%	1h	$290K	$2.4M	50x	as long as short
ApeX Omni BTCUSDT	−0.0055%	1h	$138.6M	$317.8M	100x	as long as short
Kraken Futures PF_XBTUSD	−0.0040%	1h	$187.7M	$814.0M	100x	as long as short
SoDEX BTC-USD	−0.0038%	1h	$60.8M	$283.9M	40x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	OI	Vol 24h	Max lev
Reya BTCRUSDPERP	−0.0019%	1h	$6.7M	$138.0M	40x	as long as short
Bitget BTCUSDT	−0.0004%	8h	$2.97B	$4.68B	150x	as long as short
BingX BTC-USDC	−0.0004%	8h	—	$14.9M	—	as long as short
dYdX BTC-USD	0.0000%	1h	$17.2M	$17.6M	50x	as long as short
Bybit BTCUSDT	0.0000%	8h	$5.22B	$8.58B	150x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0005% / S −0.0004%	1h	$36.7M	—	200x	as long as short
KuCoin XBTUSDTM	+0.0009%	8h	$790.8M	$615.3M	125x	as long as short
OKX BTC-USDT-SWAP	+0.0015%	8h	$2.65B	$11.61B	100x	as long as short
Bulk BTC-USDshort	+0.0019%	1h	$558.8M	$146.4M	40x
Phemex BTCUSDT	+0.0021%	8h	$148.7M	$413.6M	150x	as long as short
Aster BTCUSDT	+0.0026%	8h	$497.1M	$1.12B	200x	as long as short
Aevo BTC-PERP	+0.0040%	1h	$2.4M	$1.4M	20x	as long as short
Binance BTCUSDT	+0.0041%	8h	$9.47B	$21.93B	150x	as long as short
Gate BTC_USDT	+0.0042%	8h	$6.07B	$9.45B	200x	as long as short
MEXC BTC_USDT	+0.0042%	8h	$5.12B	$5.23B	500x	as long as short
Extended BTC-USD	+0.0048%	1h	$48.7M	$206.2M	50x	as long as short
Aftermath Perps BTCUSD	+0.0056%	1h	$87K	$149K	20x	as long as short
Bullet BTC-USD	+0.0080%	1h	$233K	$3.3M	20x	as long as short
StandX BTC-USD	+0.0084%	1h	$30.6M	$230.7M	40x	as long as short
Variational Omni BTC	+0.0088%	8h	$172.3M	$505.0M	—	as long as short
Paradex BTC-USD-PERP	+0.0093%	8h	$4.4M	$6.8M	50x	as long as short
Lighter BTC	+0.0096%	1h	$172.1M	$929.2M	50x	as long as short
Lighter RH BTC	+0.0096%	1h	$24.7M	$135.1M	50x	as long as short
Popdex BTCUSDT	+0.0096%	1h	$8.5M	$46.8M	100x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	$196K	$5.7M	50x	as long as short
Nado BTC-PERP	+0.0100%	1h	$23.5M	$226.1M	50x	as long as short
Pacifica BTC	+0.0100%	1h	$36.6M	$374.9M	50x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	$3.9M	$16.2M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	$6.5M	$84.4M	40x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	$37.3M	$117.7M	75x	as long as short
edgeX BTCUSDC	+0.0100%	4h	$278.4M	$889.4M	100x	as long as short
Vest BTC-PERP	+0.0100%	1h	—	$11.9M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	$11.0M	$11.6M	50x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	$2.4M	$7.3M	100x	as long as short
Derive BTC-PERPlong	+0.0100%	1h	$30.3M	$60.7M	15x
SunX BTC-USDT	+0.0100%	8h	$3.3M	$6.0M	100x	as long as short
HTX BTC-USDT	+0.0100%	8h	$2.28B	$841.3M	200x	as long as short
Kalshi KXBTCPERP	+0.0104%	8h	$14.4M	$605.9M	6.4x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0048%	1h	—	$87.4M	500x	as long as short
Coinbase International BTC-PERP-INTX	+0.0112%	1h	$128.8M	$6.12B	50x	as long as short
Hyperliquid BTC	+0.0122%	1h	$3.90B	$4.36B	40x	as long as short
Hibachi BTC/USDT-P	+0.0128%	1h	$732K	$7.4M	30x	as long as short
RISEx BTC/USDC	+0.0132%	1h	$9.0M	$38.4M	25x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0171% / S −0.0147%	1h	$12.4M	—	200x	as long as short
Deribit BTC-PERPETUAL	+0.0192%	1h	$911.4M	$1.12B	50x	as long as short