BTC

Alert

Funding spread now, next payment 17:00 UTC−0.0057%/8h

next payment, per $10,000−$0.07paid, last 24h−0.036%paid, last 3 days−0.108%to open and closeno order book

Long on Derive Short on gTrade (Gains Network)

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Derive BTC-PERP	85,669	0.0061	pay 0.0008% / 1h	50m 16s	$30.2M	$59.5M	15x
Short	gTrade (Gains Network) BTC/USD	85,715.1	L +0.0005% / S −0.0004%	get 0.0001% / 1h	50m 16s	$36.7M	—	200x

Funding history

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Funding on every exchange

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Profit calculator

Position, each leg$Hold fordaysFee DerivebpFee gTrade (Gains Network)bpOrdersRate

Funding earned: −$11.91
Slippage, 4 orders: no order book: not counted
Fee Derive: 3 bp × 2 orders: −$6
Fee gTrade (Gains Network): 3.5 bp × 2 orders: −$7
Net: −$24.91
Break-even: never at this rate

Slippage unknown: Derive: no order-book sample; gTrade (Gains Network): virtual book (oracle venue), just now. Net counts fees only.

Price risk

price view

Price gap now: +0.054%
Avg gap 7d: +0.013%

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 gTrade (Gains Network) virtual book (oracle venue), just now	0.51 bp	4.0 bp −$4	4.1 bp −$41	4.5 bp −$446	6.4 bp −$3,181

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
ApeX Omni BTCUSDT	−0.0212%	1h	$139.2M	$318.0M	100x	as long as short
Injective BTC/USDC PERP	−0.0137%	1h	$308K	$27.0M	52x	as long as short
Phoenix BTC	−0.0116%	1h	$1.8M	$11.4M	40x	as long as short
Gate BTC_USDT	−0.0112%	8h	$6.08B	$9.33B	200x	as long as short
Perpl BTC	−0.0112%	43m	$412K	$29.2M	6.7x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	$9K	$4K	50x	as long as short
BloFin BTC-USDT	−0.0071%	8h	$423.2M	$567.7M	150x	as long as short
01 Exchange BTCUSD	−0.0064%	1h	$289K	$2.4M	50x	as long as short
SoDEX BTC-USD	−0.0056%	1h	$60.8M	$283.7M	40x	as long as short
Bybit BTCUSDT	−0.0041%	8h	$5.21B	$8.62B	150x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	OI	Vol 24h	Max lev
Kraken Futures PF_XBTUSD	−0.0040%	1h	$188.0M	$826.4M	100x	as long as short
Reya BTCRUSDPERP	−0.0020%	1h	$6.7M	$138.0M	40x	as long as short
Bitget BTCUSDT	−0.0005%	8h	$2.97B	$4.71B	150x	as long as short
BingX BTC-USDC	−0.0004%	8h	—	$15.0M	—	as long as short
dYdX BTC-USD	0.0000%	1h	$17.2M	$17.6M	50x	as long as short
Kalshi KXBTCPERP	0.0000%	8h	$14.5M	$591.7M	6.4x	as long as short
gTrade (Gains Network) BTC/USDshort	L +0.0005% / S −0.0004%	1h	$36.7M	—	200x
KuCoin XBTUSDTM	+0.0016%	8h	$790.4M	$619.7M	125x	as long as short
OKX BTC-USDT-SWAP	+0.0020%	8h	$2.65B	$11.66B	100x	as long as short
Aftermath Perps BTCUSD	+0.0024%	1h	$87K	$156K	20x	as long as short
HTX BTC-USDT	+0.0029%	8h	$2.28B	$855.0M	200x	as long as short
Aster BTCUSDT	+0.0031%	8h	$486.4M	$1.13B	200x	as long as short
MEXC BTC_USDT	+0.0048%	8h	$5.07B	$5.16B	500x	as long as short
Aevo BTC-PERP	+0.0048%	1h	$2.4M	$1.5M	20x	as long as short
Binance BTCUSDT	+0.0049%	8h	$9.47B	$22.14B	150x	as long as short
Derive BTC-PERPlong	+0.0061%	1h	$30.2M	$59.5M	15x
Extended BTC-USD	+0.0072%	1h	$49.0M	$207.8M	50x	as long as short
Bulk BTC-USD	+0.0079%	1h	$557.9M	$149.5M	40x	as long as short
StandX BTC-USD	+0.0081%	1h	$30.6M	$229.6M	40x	as long as short
Popdex BTCUSDT	+0.0088%	1h	$8.7M	$46.1M	100x	as long as short
Variational Omni BTC	+0.0091%	8h	$171.0M	$511.0M	—	as long as short
Paradex BTC-USD-PERP	+0.0091%	8h	$4.4M	$6.8M	50x	as long as short
Lighter BTC	+0.0096%	1h	$172.9M	$906.0M	50x	as long as short
Lighter RH BTC	+0.0096%	1h	$24.7M	$133.1M	50x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	$192K	$5.6M	50x	as long as short
Nado BTC-PERP	+0.0100%	1h	$23.7M	$229.9M	50x	as long as short
Pacifica BTC	+0.0100%	1h	$36.9M	$362.8M	50x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	$3.9M	$16.4M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	$6.5M	$84.9M	40x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	$37.6M	$113.0M	75x	as long as short
edgeX BTCUSDC	+0.0100%	4h	$277.7M	$886.5M	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	$11.7M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	$238K	$3.3M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	$2.4M	$7.3M	100x	as long as short
Bluefin BTC-PERP	+0.0100%	1h	$142K	$408K	40x	as long as short
SunX BTC-USDT	+0.0100%	8h	$3.3M	$6.2M	100x	as long as short
Phemex BTCUSDT	+0.0100%	8h	$151.1M	$411.5M	150x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0048%	1h	—	$89.5M	500x	as long as short
Coinbase International BTC-PERP-INTX	+0.0112%	1h	$129.3M	$6.23B	50x	as long as short
Hyperliquid BTC	+0.0124%	1h	$3.89B	$4.45B	40x	as long as short
RISEx BTC/USDC	+0.0132%	1h	$8.7M	$38.7M	25x	as long as short
Deribit BTC-PERPETUAL	+0.0161%	1h	$911.0M	$1.12B	50x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0174% / S −0.0152%	1h	$12.5M	—	200x	as long as short
Hibachi BTC/USDT-P	+0.0184%	1h	$717K	$7.4M	30x	as long as short