BTC

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0140%/8h= −15.3% APRnext payment −$0.18 per $10,000 · paid last 24h −0.047%

Price spread now: 01 Exchange against Derive−0.003%7-day average +0.017% · you buy dearer than you sell

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

Long on Derive Short on 01 Exchange

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.064%−$6 on $10k

Price spread, last 4 days (all we have)+0.180%+$18 · spread now −0.003%, 7d avg +0.017%

Together, before fees+0.116%+$12 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$4 a day on $10k at the current rate, and 01 Exchange is 0.020% cheaper against Derive than usual: you would sell low and buy high (−$2 if the spread goes back to its 7-day average of +0.017%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Derive BTC-PERP	85,654.6	0.0100	pay 0.0013% / 1h	6m 14s	$30.0M	$51.0M	15x
Short	01 Exchange BTCUSD	85,652.3	−0.0040	pay 0.0005% / 1h	6m 14s	$368K	$2.3M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

01 Exchange 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 01 ExchangebpOrdersPrice spread, now −0.003%Rate

Funding earned: −$29.4
Price spread: −0.003% → +0.017%: −$2
Slippage, 4 orders: no order book: not counted
Fee Derive: 3 bp × 2 orders: −$6
Fee 01 Exchange: 3.5 bp × 2 orders: −$7
Net: −$44.4
Costs to cover: 0.130%
Break-even: never at this rate

Slippage unknown: Derive: no order-book sample; 01 Exchange: live order book, 3 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 01 Exchange live order book, 3 min ago	0.01 bp	4.4 bp −$4	7.5 bp −$75	doesn't fit	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 56 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
Bluefin BTC-PERP	−0.0486%	1h	85,693.8	+0.046%	$195K	$724K	40x	as long as short
Phoenix BTC	−0.0160%	1h	85,805	+0.176%	$2.2M	$10.3M	40x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	85,673	+0.021%	$8K	$3K	50x	as long as short
01 Exchange BTCUSDshort	−0.0040%	1h	85,652.3	−0.003%	$368K	$2.3M	50x
BloFin BTC-USDT	−0.0032%	8h	85,679.8	+0.029%	$415.5M	$665.4M	150x	as long as short
dYdX BTC-USD	0.0000%	1h	85,713.3	+0.068%	$16.7M	$21.2M	50x	as long as short
KuCoin XBTUSDTM	+0.0003%	8h	85,639	−0.018%	$919.2M	$751.7M	125x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0004% / S −0.0004%	1h	85,669.6	+0.018%	$36.6M	—	200x	as long as short
Nado BTC-PERP	+0.0017%	1h	85,647.8	−0.008%	$22.6M	$219.5M	50x	as long as short
Aster BTCUSDT	+0.0018%	8h	85,661.3	+0.008%	$516.2M	$1.10B	200x	as long as short

Show all 56 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX BTC-USDT	+0.0058%	8h	85,658.4	+0.004%	—	$1.53B	—	as long as short
Bitget BTCUSDT	+0.0072%	8h	85,658.4	+0.004%	$2.96B	$5.01B	150x	as long as short
Reya BTCRUSDPERP	+0.0074%	1h	85,637.3	−0.020%	$6.7M	$146.5M	40x	as long as short
Injective BTC/USDC PERP	+0.0079%	1h	85,807	+0.178%	$341K	$26.9M	52x	as long as short
Aevo BTC-PERP	+0.0080%	1h	85,651.1	−0.004%	$2.5M	$1.7M	20x	as long as short
MEXC BTC_USDT	+0.0087%	8h	85,651	−0.004%	$5.06B	$5.65B	500x	as long as short
Binance BTCUSDT	+0.0088%	8h	85,660.9	+0.007%	$9.34B	$23.93B	150x	as long as short
SoDEX BTC-USD	+0.0091%	1h	85,660	+0.006%	$60.0M	$336.1M	40x	as long as short
HTX BTC-USDT	+0.0091%	8h	85,640.7	−0.016%	$2.27B	$936.8M	200x	as long as short
Lighter BTC	+0.0096%	1h	85,671.4	+0.020%	$174.2M	$1.01B	50x	as long as short
Lighter RH BTC	+0.0096%	1h	85,682.6	+0.033%	$23.9M	$149.7M	50x	as long as short
Popdex BTCUSDT	+0.0096%	1h	85,648	−0.008%	$8.4M	$52.3M	100x	as long as short
Phemex BTCUSDT	+0.0099%	8h	85,676.5	+0.026%	$149.4M	$480.6M	150x	as long as short
Paradex BTC-USD-PERP	+0.0100%	8h	85,702.2	+0.056%	$3.8M	$8.3M	50x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	85,624	−0.036%	$199K	$7.8M	50x	as long as short
Hyperliquid BTC	+0.0100%	1h	85,729.3	+0.087%	$3.74B	$4.96B	40x	as long as short
Pacifica BTC	+0.0100%	1h	85,696.1	+0.048%	$40.1M	$576.5M	50x	as long as short
Bybit BTCUSDT	+0.0100%	8h	85,668.1	+0.016%	$5.33B	$9.57B	150x	as long as short
OKX BTC-USDT-SWAP	+0.0100%	8h	85,670.1	+0.018%	$2.58B	$12.11B	100x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	85,666	+0.013%	$4.0M	$18.0M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	85,638.2	−0.019%	$6.8M	$97.6M	40x	as long as short
Bulk BTC-USD	+0.0100%	1h	85,800.8	+0.171%	$635.6M	$478.1M	40x	as long as short
Gate BTC_USDT	+0.0100%	8h	85,658.7	+0.005%	$5.55B	$10.57B	200x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	85,676.9	+0.026%	$35.8M	$174.2M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	85,777.2	+0.143%	$157.4M	$555.4M	—	as long as short
edgeX BTCUSDC	+0.0100%	4h	85,776.1	+0.142%	$280.2M	$917.0M	100x	as long as short
GRVT BTC_USDT_Perp	+0.0100%	8h	85,772.7	+0.138%	$215.4M	$165.7M	50x	as long as short
ApeX Omni BTCUSDT	+0.0100%	1h	85,779.4	+0.146%	$140.2M	$314.8M	100x	as long as short
StandX BTC-USD	+0.0100%	1h	85,688.2	+0.039%	$30.3M	$208.5M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	85,708.3	+0.063%	—	$11.8M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	85,646	−0.010%	$11.0M	$14.2M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	85,658.3	+0.004%	$191K	$3.3M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	85,658.7	+0.005%	$2.4M	$8.8M	100x	as long as short
Derive BTC-PERPlong	+0.0100%	1h	85,654.6	long leg	$30.0M	$51.0M	15x
SunX BTC-USDT	+0.0100%	8h	85,641.9	−0.015%	$2.9M	$6.1M	100x	as long as short
Extended BTC-USD	+0.0104%	1h	85,637.4	−0.020%	$44.3M	$226.7M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0056%	1h	85,671.7	+0.020%	—	$106.1M	500x	as long as short
Coinbase International BTC-PERP-INTX	+0.0112%	1h	85,697	+0.050%	$123.3M	$5.11B	50x	as long as short
RISEx BTC/USDC	+0.0120%	1h	85,683.8	+0.034%	$8.4M	$42.3M	25x	as long as short
Deribit BTC-PERPETUAL	+0.0132%	1h	85,710.9	+0.066%	$891.5M	$1.53B	50x	as long as short
Kraken Futures PF_XBTUSD	+0.0138%	1h	85,702	+0.055%	$189.2M	$953.1M	100x	as long as short
Hibachi BTC/USDT-P	+0.0192%	1h	85,719.5	+0.076%	$702K	$7.8M	30x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0202% / S −0.0177%	1h	85,666.4	+0.014%	$13.5M	—	200x	as long as short
Aftermath Perps BTCUSD	+0.0207%	1h	85,754.8	+0.117%	$78K	$219K	20x	as long as short
Kalshi KXBTCPERP	+0.0220%	8h	85,690	+0.041%	$10.7M	$758.7M	6.4x	as long as short
Perpl BTC	+0.0447%	43m	85,700.9	+0.054%	$500K	$19.2M	6.7x	as long as short