BTC

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0056%/8h= −6.1% APRnext payment −$0.07 per $10,000 · paid last 24h −0.011%

Price spread now: RISEx against Derive+0.014%7-day average +0.019% · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Derive Short on RISEx

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.030%+$3 on $10k

Price spread, last 3 days (all we have)+0.032%+$3 · spread now +0.014%, 7d avg +0.019%

Together, before fees+0.062%+$6 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.019%, so right now this pair is about funding alone: −$2 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Derive BTC-PERP	85,650	0.0100	pay 0.0013% / 1h	15m 05s	$30.0M	$56.0M	15x
Short	RISEx BTC/USDC	85,662.3	0.0044	get 0.0006% / 1h	15m 05s	$8.1M	$42.1M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

RISEx against Derive. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee DerivebpFee RISExbpOrdersPrice spread, now +0.014%Rate

Funding earned: −$11.74
Price spread: +0.014% → +0.019%: −$0.49
Slippage, 4 orders: no order book: not counted
Fee Derive: 3 bp × 2 orders: −$6
Fee RISEx: 3 bp × 2 orders: −$6
Net: −$24.23
Costs to cover: 0.120%
Break-even: never at this rate

Slippage unknown: Derive: no order-book sample; RISEx: live order book, 4 min ago. Net counts fees only.

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 RISEx live order book, 4 min ago	0.01 bp	3.9 bp −$4	3.9 bp −$39	11.3 bp −$1,127	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: a good short leg pays more funding and is priced higher.

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phoenix BTC	−0.0144%	1h	85,649	−0.001%	$2.2M	$10.5M	40x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	85,657	+0.008%	$8K	$3K	50x	as long as short
01 Exchange BTCUSD	−0.0064%	1h	85,632.6	−0.020%	$361K	$2.3M	50x	as long as short
dYdX BTC-USD	+0.0002%	1h	85,649.4	−0.001%	$16.8M	$21.0M	50x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0004% / S −0.0004%	1h	85,665.3	+0.018%	$36.7M	—	200x	as long as short
Injective BTC/USDC PERP	+0.0020%	1h	85,691	+0.048%	$340K	$26.9M	52x	as long as short
KuCoin XBTUSDTM	+0.0030%	8h	85,641.3	−0.010%	$900.5M	$753.8M	125x	as long as short
Aster BTCUSDT	+0.0031%	8h	85,640.8	−0.011%	$515.8M	$1.14B	200x	as long as short
Nado BTC-PERP	+0.0042%	1h	85,640.7	−0.011%	$22.6M	$227.5M	50x	as long as short
RISEx BTC/USDCshort	+0.0044%	1h	85,662.3	+0.014%	$8.1M	$42.1M	25x

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX BTC-USDT	+0.0055%	8h	85,641.1	−0.010%	$2.27B	$947.7M	200x	as long as short
BingX BTC-USDT	+0.0055%	8h	85,652.3	+0.003%	—	$1.56B	—	as long as short
Reya BTCRUSDPERP	+0.0059%	1h	85,644.3	−0.007%	$6.7M	$146.3M	40x	as long as short
Bitget BTCUSDT	+0.0070%	8h	85,640.1	−0.012%	$2.94B	$5.08B	150x	as long as short
Aevo BTC-PERP	+0.0088%	1h	85,642.1	−0.009%	$2.5M	$1.8M	20x	as long as short
MEXC BTC_USDT	+0.0089%	8h	85,648.3	−0.002%	$5.09B	$5.75B	500x	as long as short
Binance BTCUSDT	+0.0090%	8h	85,643.9	−0.007%	$9.33B	$24.28B	150x	as long as short
ApeX Omni BTCUSDT	+0.0091%	1h	85,637.3	−0.015%	$140.0M	$318.1M	100x	as long as short
Lighter BTC	+0.0096%	1h	85,655.2	+0.006%	$170.5M	$993.1M	50x	as long as short
Lighter RH BTC	+0.0096%	1h	85,661.1	+0.013%	$23.5M	$147.8M	50x	as long as short
Popdex BTCUSDT	+0.0096%	1h	85,636	−0.016%	$8.4M	$51.9M	100x	as long as short
SunX BTC-USDT	+0.0098%	8h	85,593.8	−0.066%	$2.9M	$6.6M	100x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	85,610	−0.047%	$203K	$7.6M	50x	as long as short
Paradex BTC-USD-PERP	+0.0100%	8h	85,653.8	+0.004%	$3.8M	$8.4M	50x	as long as short
Hyperliquid BTC	+0.0100%	1h	85,715	+0.076%	$3.76B	$4.99B	40x	as long as short
Pacifica BTC	+0.0100%	1h	85,674.4	+0.029%	$40.8M	$571.9M	50x	as long as short
Bybit BTCUSDT	+0.0100%	8h	85,655.9	+0.007%	$5.31B	$9.74B	150x	as long as short
OKX BTC-USDT-SWAP	+0.0100%	8h	85,653.3	+0.004%	$2.54B	$12.34B	100x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	85,638	−0.014%	$3.9M	$18.3M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	85,609.1	−0.048%	$7.2M	$97.5M	40x	as long as short
Gate BTC_USDT	+0.0100%	8h	85,649.3	−0.001%	$5.59B	$10.57B	200x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	85,636.8	−0.015%	$35.3M	$166.3M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	85,650.8	+0.001%	$156.5M	$556.1M	—	as long as short
edgeX BTCUSDC	+0.0100%	4h	85,614.3	−0.042%	$278.4M	$941.4M	100x	as long as short
GRVT BTC_USDT_Perp	+0.0100%	8h	85,656.6	+0.008%	$214.9M	$164.7M	50x	as long as short
StandX BTC-USD	+0.0100%	1h	85,666.1	+0.019%	$30.3M	$208.7M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	85,704.2	+0.063%	—	$11.8M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	85,646	−0.005%	$11.0M	$14.2M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	85,653	+0.004%	$188K	$3.3M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	85,644.2	−0.007%	$2.4M	$9.1M	100x	as long as short
Bluefin BTC-PERP	+0.0100%	1h	85,674.9	+0.029%	$186K	$709K	40x	as long as short
Derive BTC-PERPlong	+0.0100%	1h	85,650	long leg	$30.0M	$56.0M	15x
SoDEX BTC-USD	+0.0100%	1h	85,649	−0.001%	$60.0M	$336.9M	40x	as long as short
Phemex BTCUSDT	+0.0100%	8h	85,647.1	−0.003%	$153.1M	$481.2M	150x	as long as short
Bulk BTC-USD	+0.0100%	1h	85,673.6	+0.028%	$597.8M	$234.3M	40x	as long as short
Extended BTC-USD	+0.0104%	1h	85,627.4	−0.026%	$44.0M	$227.9M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0056%	1h	85,648.2	−0.002%	—	$101.8M	500x	as long as short
Coinbase International BTC-PERP-INTX	+0.0112%	1h	85,682.9	+0.038%	$131.3M	$5.15B	50x	as long as short
Hibachi BTC/USDT-P	+0.0144%	1h	85,681.7	+0.037%	$694K	$7.8M	30x	as long as short
Kraken Futures PF_XBTUSD	+0.0146%	1h	85,666.8	+0.020%	$187.7M	$963.9M	100x	as long as short
Aftermath Perps BTCUSD	+0.0171%	1h	85,691.3	+0.048%	$78K	$219K	20x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0203% / S −0.0186%	1h	85,662.7	+0.015%	$13.6M	—	200x	as long as short
Kalshi KXBTCPERP	+0.0212%	8h	85,670	+0.023%	$10.2M	$770.4M	6.4x	as long as short
Deribit BTC-PERPETUAL	+0.0237%	1h	85,695.3	+0.053%	$894.7M	$1.54B	50x	as long as short
Perpl BTC	+0.0447%	43m	85,659.2	+0.011%	$513K	$20.5M	6.7x	as long as short