BTC

Alert

Funding spread now, next payment 16:00 UTC−0.0180%/8h

next payment, per $10,000−$0.23paid, last 24h−0.061%paid, last 3 days−0.184%to open and closeno order book

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Derive BTC-PERP	86,053.1	0.0100	pay 0.0013% / 1h	9m 40s	$30.3M	$59.2M	15x
Short	Hotstuff BTC-PERP	86,052	−0.0080	pay 0.0010% / 1h	9m 40s	$9K	$4K	50x

Funding history

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Funding on every exchange

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Profit calculator

Position, each leg$Hold fordaysFee DerivebpFee HotstuffbpOrdersRate

Funding earned: −$37.8
Slippage, 4 orders: no order book: not counted
Fee Derive: 3 bp × 2 orders: −$6
Fee Hotstuff: 2.5 bp × 2 orders: −$5
Net: −$48.8
Break-even: never at this rate

Slippage unknown: Derive: no order-book sample; Hotstuff: no order-book sample. Net counts fees only.

Price risk

price view

Price gap now: −0.001%
Avg gap 7d: —

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 Hotstuff no order-book sample	—	—	—	—	—

Derive and Hotstuff: 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	−0.0168%	1h	$143K	$407K	40x	as long as short
ApeX Omni BTCUSDT	−0.0124%	1h	$139.2M	$318.5M	100x	as long as short
Perpl BTC	−0.0112%	43m	$415K	$29.6M	6.7x	as long as short
Phoenix BTC	−0.0086%	1h	$1.8M	$10.8M	40x	as long as short
Hotstuff BTC-PERPshort	−0.0080%	1h	$9K	$4K	50x
01 Exchange BTCUSD	−0.0064%	1h	$291K	$2.4M	50x	as long as short
BloFin BTC-USDT	−0.0057%	8h	$431.2M	$566.0M	150x	as long as short
Phemex BTCUSDT	−0.0022%	8h	$153.5M	$407.7M	150x	as long as short
Reya BTCRUSDPERP	−0.0021%	1h	$6.7M	$137.8M	40x	as long as short
Gate BTC_USDT	−0.0019%	8h	$6.12B	$9.56B	200x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	OI	Vol 24h	Max lev
SoDEX BTC-USD	−0.0012%	1h	$61.0M	$283.6M	40x	as long as short
BingX BTC-USDC	−0.0004%	8h	—	$14.9M	—	as long as short
Aftermath Perps BTCUSD	−0.0003%	1h	$86K	$154K	20x	as long as short
Bitget BTCUSDT	−0.0003%	8h	$2.98B	$4.71B	150x	as long as short
dYdX BTC-USD	0.0000%	1h	$17.3M	$17.5M	50x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0005% / S −0.0004%	1h	$36.8M	—	200x	as long as short
OKX BTC-USDT-SWAP	+0.0024%	8h	$2.66B	$11.70B	100x	as long as short
KuCoin XBTUSDTM	+0.0029%	8h	$791.0M	$617.6M	125x	as long as short
Aster BTCUSDT	+0.0044%	8h	$485.9M	$1.12B	200x	as long as short
Binance BTCUSDT	+0.0061%	8h	$9.53B	$21.92B	150x	as long as short
MEXC BTC_USDT	+0.0062%	8h	$5.09B	$5.20B	500x	as long as short
Aevo BTC-PERP	+0.0064%	1h	$2.4M	$1.5M	20x	as long as short
HTX BTC-USDT	+0.0069%	8h	$2.29B	$850.2M	200x	as long as short
Kraken Futures PF_XBTUSD	+0.0071%	1h	$186.4M	$820.8M	100x	as long as short
Popdex BTCUSDT	+0.0080%	1h	$8.5M	$45.7M	100x	as long as short
Bybit BTCUSDT	+0.0090%	8h	$5.20B	$8.56B	150x	as long as short
Paradex BTC-USD-PERP	+0.0091%	8h	$4.4M	$6.7M	50x	as long as short
Lighter BTC	+0.0096%	1h	$172.1M	$941.9M	50x	as long as short
Lighter RH BTC	+0.0096%	1h	$24.7M	$140.9M	50x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	$191K	$5.5M	50x	as long as short
Nado BTC-PERP	+0.0100%	1h	$23.8M	$230.3M	50x	as long as short
Pacifica BTC	+0.0100%	1h	$36.9M	$357.1M	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	$5.7M	$85.1M	40x	as long as short
Bulk BTC-USD	+0.0100%	1h	$553.6M	$134.9M	40x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	$38.9M	$108.6M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	$171.4M	$511.1M	—	as long as short
edgeX BTCUSDC	+0.0100%	4h	$278.7M	$876.4M	100x	as long as short
StandX BTC-USD	+0.0100%	1h	$30.7M	$230.6M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	—	$12.2M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	$11.0M	$11.8M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	$244K	$3.3M	20x	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	$59.2M	15x
SunX BTC-USDT	+0.0100%	8h	$3.3M	$6.1M	100x	as long as short
Kalshi KXBTCPERP	+0.0101%	8h	$12.1M	$579.6M	6.4x	as long as short
Extended BTC-USD	+0.0104%	1h	$48.8M	$209.4M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0048%	1h	—	$89.4M	500x	as long as short
Coinbase International BTC-PERP-INTX	+0.0104%	1h	$151.1M	$6.24B	50x	as long as short
Injective BTC/USDC PERP	+0.0108%	1h	$308K	$27.0M	52x	as long as short
RISEx BTC/USDC	+0.0128%	1h	$8.8M	$38.8M	25x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0198% / S −0.0175%	1h	$12.6M	—	200x	as long as short
Hyperliquid BTC	+0.0245%	1h	$3.92B	$4.50B	40x	as long as short
Hibachi BTC/USDT-P	+0.0248%	1h	$698K	$7.4M	30x	as long as short
Deribit BTC-PERPETUAL	+0.0255%	1h	$910.7M	$1.11B	50x	as long as short