BTC

Alert

Funding spread now, next payment 16:00 UTC+0.0008%/8h

next payment, per $10,000+$0.01paid, last 24h−0.033%paid, last 7 days+0.034%to open and closeno order book

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Derive BTC-PERP	85,954.6	0.0100	pay 0.0013% / 1h	55m 35s	$30.2M	$58.4M	15x
Short	Injective BTC/USDC PERP	85,839	0.0108	get 0.0013% / 1h	55m 35s	$304K	$27.0M	52x

Funding history

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Funding on every exchange

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Profit calculator

Position, each leg$Hold fordaysFee DerivebpFee InjectivebpOrdersRate

Funding earned: $1.61
Slippage, 4 orders: no order book: not counted
Fee Derive: 3 bp × 2 orders: −$6
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$4.41
Break-even: 26.2 days

Slippage unknown: Derive: no order-book sample; Injective: live order book, 5 min ago. Net counts fees only.

Price risk

price view

Price gap now: −0.134%
Avg gap 7d: +0.023%

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 Injective live order book, 5 min ago	7.17 bp	7.2 bp −$7	16.7 bp −$167	625.7 bp −$62.6K	doesn't fit

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	−0.0408%	1h	$139.6M	$317.6M	100x	as long as short
Perpl BTC	−0.0223%	43m	$464K	$30.4M	6.7x	as long as short
01 Exchange BTCUSD	−0.0120%	1h	$283K	$2.4M	50x	as long as short
edgeX BTCUSDC	−0.0106%	4h	$278.0M	$848.6M	100x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	$9K	$3K	50x	as long as short
Aftermath Perps BTCUSD	−0.0080%	1h	$87K	$149K	20x	as long as short
Reya BTCRUSDPERP	−0.0025%	1h	$6.7M	$137.5M	40x	as long as short
Phemex BTCUSDT	−0.0024%	8h	$157.7M	$390.1M	150x	as long as short
Gate BTC_USDT	−0.0008%	8h	$6.13B	$9.03B	200x	as long as short
BingX BTC-USDT	−0.0008%	8h	—	$1.36B	—	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	OI	Vol 24h	Max lev
Bitget BTCUSDT	−0.0007%	8h	$2.94B	$4.54B	150x	as long as short
dYdX BTC-USD	0.0000%	1h	$16.7M	$16.3M	50x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0005% / S −0.0004%	1h	$36.8M	—	200x	as long as short
Phoenix BTC	+0.0015%	1h	$1.6M	$10.8M	40x	as long as short
OKX BTC-USDT-SWAP	+0.0035%	8h	$2.61B	$11.26B	100x	as long as short
Aster BTCUSDT	+0.0045%	8h	$488.8M	$1.10B	200x	as long as short
KuCoin XBTUSDTM	+0.0051%	8h	$792.6M	$608.4M	125x	as long as short
HTX BTC-USDT	+0.0052%	8h	$2.30B	$812.3M	200x	as long as short
SoDEX BTC-USD	+0.0055%	1h	$61.2M	$259.1M	40x	as long as short
Kraken Futures PF_XBTUSD	+0.0071%	1h	$184.2M	$797.3M	100x	as long as short
MEXC BTC_USDT	+0.0079%	8h	$5.02B	$4.89B	500x	as long as short
Binance BTCUSDT	+0.0079%	8h	$9.57B	$20.95B	150x	as long as short
Paradex BTC-USD-PERP	+0.0080%	8h	$4.4M	$6.5M	50x	as long as short
Aevo BTC-PERP	+0.0080%	1h	$2.4M	$1.6M	20x	as long as short
Lighter BTC	+0.0096%	1h	$179.3M	$885.8M	50x	as long as short
Lighter RH BTC	+0.0096%	1h	$25.3M	$134.6M	50x	as long as short
Popdex BTCUSDT	+0.0096%	1h	$8.5M	$43.6M	100x	as long as short
Hibachi BTC/USDT-P	+0.0096%	1h	$626K	$7.3M	30x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	$190K	$5.3M	50x	as long as short
Nado BTC-PERP	+0.0100%	1h	$23.6M	$229.4M	50x	as long as short
Pacifica BTC	+0.0100%	1h	$36.5M	$337.2M	50x	as long as short
Bybit BTCUSDT	+0.0100%	8h	$5.14B	$8.31B	150x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	$3.9M	$16.1M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	$5.4M	$81.2M	40x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	$39.2M	$102.9M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	$171.7M	$501.4M	—	as long as short
StandX BTC-USD	+0.0100%	1h	$30.7M	$240.5M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	—	$13.0M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	$10.9M	$11.4M	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	$7.0M	100x	as long as short
Bluefin BTC-PERP	+0.0100%	1h	$143K	$404K	40x	as long as short
Derive BTC-PERPlong	+0.0100%	1h	$30.2M	$58.4M	15x
SunX BTC-USDT	+0.0100%	8h	$3.3M	$5.6M	100x	as long as short
Bulk BTC-USD	+0.0100%	1h	$541.8M	$78.7M	40x	as long as short
Kalshi KXBTCPERP	+0.0100%	8h	$10.5M	$547.4M	6.4x	as long as short
Extended BTC-USD	+0.0104%	1h	$48.2M	$206.5M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0048%	1h	—	$86.9M	500x	as long as short
Coinbase International BTC-PERP-INTX	+0.0104%	1h	$150.1M	$6.25B	50x	as long as short
Injective BTC/USDC PERPshort	+0.0108%	1h	$304K	$27.0M	52x
RISEx BTC/USDC	+0.0128%	1h	$8.7M	$38.2M	25x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0198% / S −0.0178%	1h	$12.6M	—	200x	as long as short
BloFin BTC-USDT	+0.0261%	8h	$425.6M	$517.5M	150x	as long as short
Hyperliquid BTC	+0.0349%	1h	$3.91B	$4.29B	40x	as long as short
Deribit BTC-PERPETUAL	+0.0437%	1h	$876.5M	$1.01B	50x	as long as short