BTC

Alert

Funding spread now, next payment 19:00 UTC−0.0025%/8h

paid, last 24h−0.010%paid, last 3 days−0.026%to open and closeno order book

Long on Derive Short on Variational Omni

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Derive BTC-PERP	86,009.3	0.0100	pay 0.0013% / 1h	41m 44s	$30.4M	$58.8M	15x
Short	Variational Omni BTC	85,952.4	0.0075	get 0.0075% / 8h	5h 41m	$170.5M	$505.3M	—

Funding history

latest

Range statsloading…

Funding on every exchange

click an exchange to add or hide it

latest

Profit calculator

Position, each leg$Hold fordaysFee DerivebpFee Variational OmnibpOrdersRate

Funding earned: −$5.25
Slippage, 4 orders: no order book: not counted
Fee Derive: 3 bp × 2 orders: −$6
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$11.25
Break-even: never at this rate

Slippage unknown: Derive: no order-book sample; Variational Omni: RFQ quote, 4 min ago. Net counts fees only.

Price risk

price view

Price gap now: −0.066%
Avg gap 7d: −0.012%

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 Variational Omni RFQ quote, 4 min ago	0.61 bp	doesn't fit	0.6 bp −$6	3.7 bp −$368	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
Perpl BTC	−0.0447%	43m	$405K	$26.2M	6.7x	as long as short
Arcus BTC-USD	−0.0299%	1h	$6.7M	$85.9M	40x	as long as short
BloFin BTC-USDT	−0.0088%	8h	$422.0M	$568.6M	150x	as long as short
Phoenix BTC	−0.0082%	1h	$1.9M	$11.0M	40x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	$9K	$4K	50x	as long as short
01 Exchange BTCUSD	−0.0048%	1h	$311K	$2.4M	50x	as long as short
Kraken Futures PF_XBTUSD	−0.0019%	1h	$188.4M	$817.0M	100x	as long as short
Reya BTCRUSDPERP	−0.0017%	1h	$6.8M	$138.3M	40x	as long as short
Injective BTC/USDC PERP	−0.0006%	1h	$307K	$27.0M	52x	as long as short
KuCoin XBTUSDTM	−0.0006%	8h	$806.0M	$619.4M	125x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	OI	Vol 24h	Max lev
Phemex BTCUSDT	−0.0005%	8h	$150.1M	$423.1M	150x	as long as short
dYdX BTC-USD	−0.0001%	1h	$17.2M	$18.1M	50x	as long as short
Kalshi KXBTCPERP	0.0000%	8h	$12.0M	$651.7M	6.4x	as long as short
Bitget BTCUSDT	+0.0001%	8h	$2.96B	$4.68B	150x	as long as short
BingX BTC-USDT	+0.0001%	8h	—	$1.37B	—	as long as short
gTrade (Gains Network) BTC/USD	L +0.0005% / S −0.0004%	1h	$36.8M	—	200x	as long as short
Bulk BTC-USD	+0.0008%	1h	$563.6M	$127.9M	40x	as long as short
SoDEX BTC-USD	+0.0013%	1h	$60.9M	$284.8M	40x	as long as short
Aster BTCUSDT	+0.0020%	8h	$505.5M	$1.09B	200x	as long as short
OKX BTC-USDT-SWAP	+0.0025%	8h	$2.67B	$11.60B	100x	as long as short
RISEx BTC/USDC	+0.0031%	1h	$9.1M	$38.7M	25x	as long as short
Aftermath Perps BTCUSD	+0.0031%	1h	$87K	$155K	20x	as long as short
Bybit BTCUSDT	+0.0032%	8h	$5.28B	$8.66B	150x	as long as short
MEXC BTC_USDT	+0.0032%	8h	$5.16B	$5.10B	500x	as long as short
Aevo BTC-PERP	+0.0032%	1h	$2.4M	$1.3M	20x	as long as short
Binance BTCUSDT	+0.0033%	8h	$9.49B	$22.06B	150x	as long as short
Gate BTC_USDT	+0.0035%	8h	$6.06B	$9.60B	200x	as long as short
Popdex BTCUSDT	+0.0064%	1h	$8.5M	$46.2M	100x	as long as short
Variational Omni BTCshort	+0.0075%	8h	$170.5M	$505.3M	—
Extended BTC-USD	+0.0080%	1h	$48.6M	$199.4M	50x	as long as short
HTX BTC-USDT	+0.0087%	8h	$2.29B	$846.7M	200x	as long as short
ApeX Omni BTCUSDT	+0.0094%	1h	$140.0M	$319.9M	100x	as long as short
Lighter BTC	+0.0096%	1h	$172.2M	$947.0M	50x	as long as short
Lighter RH BTC	+0.0096%	1h	$24.4M	$137.7M	50x	as long as short
Paradex BTC-USD-PERP	+0.0098%	8h	$4.4M	$6.9M	50x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	$200K	$5.9M	50x	as long as short
Nado BTC-PERP	+0.0100%	1h	$23.1M	$227.1M	50x	as long as short
Pacifica BTC	+0.0100%	1h	$36.8M	$411.8M	50x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	$4.1M	$17.3M	25x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	$37.7M	$133.9M	75x	as long as short
edgeX BTCUSDC	+0.0100%	4h	$280.7M	$885.3M	100x	as long as short
StandX BTC-USD	+0.0100%	1h	$30.7M	$215.1M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	—	$11.5M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	$11.0M	$12.0M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	$234K	$3.3M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	$2.4M	$7.4M	100x	as long as short
Bluefin BTC-PERP	+0.0100%	1h	$144K	$411K	40x	as long as short
Derive BTC-PERPlong	+0.0100%	1h	$30.4M	$58.8M	15x
SunX BTC-USDT	+0.0100%	8h	$3.4M	$5.8M	100x	as long as short
Hibachi BTC/USDT-P	+0.0104%	1h	$753K	$6.6M	30x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0048%	1h	—	$84.0M	500x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0172% / S −0.0153%	1h	$12.7M	—	200x	as long as short
Deribit BTC-PERPETUAL	+0.0199%	1h	$915.5M	$1.11B	50x	as long as short
Coinbase International BTC-PERP-INTX	+0.0200%	1h	$129.6M	$5.85B	50x	as long as short
Hyperliquid BTC	+0.0200%	1h	$3.98B	$4.48B	40x	as long as short