BTC

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0210%/8h= +23.0% APRnext payment +$0.26 per $10,000 · paid last 24h +0.046%

Price spread now: GMX against gTrade (Gains Network)−0.004%7-day average +0.028% · you buy dearer than you sell

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

Long on gTrade (Gains Network)Short on GMX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.145%+$15 on $10k

Price spread, last 3 days (all we have)+0.001%$0 · spread now −0.004%, 7d avg +0.028%

Together, before fees+0.146%+$15 on $10k · with fees, hour by hour

Funding pays, the price is against you. GMX is 0.032% cheaper against gTrade (Gains Network) than usual: you would sell low and buy high (spread −0.004% now, against its 7-day average of +0.028%). If the spread goes back, that is −$3 on $10k: about 12 hours of funding at the current rate (+$6 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	gTrade (Gains Network) BTC/USD	86,619.5	L +0.0005% / S −0.0004%	pay 0.0001% / 1h	41m 18s	$36.9M	—	200x
Short	GMX BTC/USD [WBTC.b-USDC]	86,616.4	L +0.0193% / S −0.0214%	get 0.0027% / 1h	41m 18s	$15.0M	—	200x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against gTrade (Gains Network). 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 gTrade (Gains Network)bpFee GMXbpOrdersPrice spread, now −0.004%Rate

Funding earned: $44.03
Price spread: −0.004% → +0.028%: −$3.18
Slippage, 4 orders: no order book: not counted
Fee gTrade (Gains Network): 3.5 bp × 2 orders: −$7
Fee GMX: 6 bp × 2 orders: −$12
Net: $21.85
Costs to cover: 0.190%
Break-even: 3.5 days

Slippage unknown: gTrade (Gains Network): virtual book (oracle venue), 3 min ago; GMX: no order-book sample. 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 gTrade (Gains Network) virtual book (oracle venue), 3 min ago	0.51 bp	4.0 bp −$4	4.1 bp −$41	4.5 bp −$446	6.4 bp −$3,183
Sell GMX no order-book sample	—	—	—	—	—

GMX: 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
Phoenix BTC	−0.0118%	1h	86,598	−0.025%	$2.2M	$11.8M	40x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	86,586	−0.039%	$9K	$3K	50x	as long as short
Injective BTC/USDC PERP	−0.0035%	1h	86,568	−0.059%	$333K	$26.8M	52x	as long as short
RISEx BTC/USDC	−0.0024%	1h	86,610.4	−0.011%	$8.3M	$42.9M	25x	as long as short
01 Exchange BTCUSD	−0.0024%	1h	86,610.1	−0.011%	$361K	$2.5M	50x	as long as short
Aster BTCUSDT	0.0000%	8h	86,592.8	−0.031%	$502.3M	$1.15B	200x	as long as short
Deribit BTC-PERPETUAL	0.0000%	1h	86,619.7	0.000%	$916.6M	$1.49B	50x	as long as short
gTrade (Gains Network) BTC/USDlong	L +0.0005% / S −0.0004%	1h	86,619.5	long leg	$36.9M	—	200x
KuCoin XBTUSDTM	+0.0013%	8h	86,583.3	−0.042%	$851.0M	$715.1M	125x	as long as short
dYdX BTC-USD	+0.0025%	1h	86,584.4	−0.041%	$17.0M	$21.1M	50x	as long as short

Show all 56 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Reya BTCRUSDPERP	+0.0027%	1h	86,597.7	−0.025%	$6.7M	$145.4M	40x	as long as short
BingX BTC-USDT	+0.0042%	8h	86,601.4	−0.021%	—	$1.59B	—	as long as short
Phemex BTCUSDT	+0.0043%	8h	86,597.1	−0.026%	$150.5M	$479.2M	150x	as long as short
Bitget BTCUSDT	+0.0052%	8h	86,591.7	−0.032%	$2.96B	$5.12B	150x	as long as short
MEXC BTC_USDT	+0.0072%	8h	86,589.4	−0.035%	$5.15B	$5.64B	500x	as long as short
Aevo BTC-PERP	+0.0072%	1h	86,582.5	−0.043%	$2.4M	$1.3M	20x	as long as short
Binance BTCUSDT	+0.0073%	8h	86,593.6	−0.030%	$9.44B	$24.57B	150x	as long as short
Gate BTC_USDT	+0.0082%	8h	86,597	−0.026%	$5.88B	$10.74B	200x	as long as short
Lighter BTC	+0.0096%	1h	86,596.2	−0.027%	$170.5M	$1.01B	50x	as long as short
Lighter RH BTC	+0.0096%	1h	86,607.7	−0.014%	$24.1M	$151.8M	50x	as long as short
Popdex BTCUSDT	+0.0096%	1h	86,600	−0.023%	$8.5M	$52.6M	100x	as long as short
SoDEX BTC-USD	+0.0099%	1h	86,586	−0.039%	$60.5M	$337.7M	40x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	86,577	−0.049%	$200K	$7.0M	50x	as long as short
Paradex BTC-USD-PERP	+0.0100%	8h	86,600.3	−0.022%	$4.8M	$8.5M	50x	as long as short
Nado BTC-PERP	+0.0100%	1h	86,564.4	−0.064%	$21.8M	$234.8M	50x	as long as short
Hyperliquid BTC	+0.0100%	1h	86,675	+0.064%	$3.80B	$5.11B	40x	as long as short
Pacifica BTC	+0.0100%	1h	86,605.2	−0.017%	$40.8M	$524.0M	50x	as long as short
Bybit BTCUSDT	+0.0100%	8h	86,589.1	−0.035%	$5.27B	$9.82B	150x	as long as short
OKX BTC-USDT-SWAP	+0.0100%	8h	86,592.8	−0.031%	$2.55B	$12.77B	100x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	86,582	−0.043%	$3.9M	$18.6M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	86,631.4	+0.014%	$7.6M	$95.1M	40x	as long as short
Bulk BTC-USD	+0.0100%	1h	86,560.7	−0.068%	$572.5M	$17.8M	40x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	86,561.4	−0.067%	$38.4M	$156.0M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	86,628.8	+0.011%	$157.3M	$569.4M	—	as long as short
edgeX BTCUSDC	+0.0100%	4h	86,643	+0.027%	$279.9M	$948.2M	100x	as long as short
GRVT BTC_USDT_Perp	+0.0100%	8h	86,607.5	−0.014%	$217.5M	$171.6M	50x	as long as short
ApeX Omni BTCUSDT	+0.0100%	1h	86,662	+0.049%	$141.6M	$323.3M	100x	as long as short
StandX BTC-USD	+0.0100%	1h	86,596.7	−0.026%	$30.7M	$204.7M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	86,639.1	+0.023%	—	$11.9M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	86,600	−0.023%	$11.1M	$13.8M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	86,602.8	−0.019%	$191K	$3.3M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	86,600.9	−0.021%	$2.4M	$9.0M	100x	as long as short
Bluefin BTC-PERP	+0.0100%	1h	86,627.3	+0.009%	$141K	$663K	40x	as long as short
Derive BTC-PERP	+0.0100%	1h	86,621.8	+0.003%	$30.6M	$62.6M	15x	as long as short
SunX BTC-USDT	+0.0100%	8h	86,556.7	−0.073%	$3.4M	$5.4M	100x	as long as short
HTX BTC-USDT	+0.0100%	8h	86,580	−0.046%	$2.30B	$970.8M	200x	as long as short
Extended BTC-USD	+0.0104%	1h	86,567.7	−0.060%	$45.5M	$227.2M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0048%	1h	86,617.3	−0.002%	—	$98.9M	500x	as long as short
Kraken Futures PF_XBTUSD	+0.0110%	1h	86,614.5	−0.006%	$193.6M	$951.6M	100x	as long as short
Perpl BTC	+0.0112%	43m	86,605.9	−0.016%	$417K	$23.2M	6.7x	as long as short
Coinbase International BTC-PERP-INTX	+0.0112%	1h	86,628.9	+0.011%	$132.6M	$5.68B	50x	as long as short
Aftermath Perps BTCUSD	+0.0121%	1h	86,622.9	+0.004%	$79K	$219K	20x	as long as short
Hibachi BTC/USDT-P	+0.0184%	1h	86,608.6	−0.013%	$728K	$8.1M	30x	as long as short
GMX BTC/USD [WBTC.b-USDC]short	L +0.0193% / S −0.0214%	1h	86,616.4	−0.004%	$15.0M	—	200x
BloFin BTC-USDT	+0.0193%	8h	86,593.5	−0.030%	$413.9M	$658.9M	150x	as long as short
Kalshi KXBTCPERP	+0.0209%	8h	86,617	−0.003%	$9.7M	$743.7M	6.4x	as long as short