BTC

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0092%/8h= +10.0% APRnext payment +$0.11 per $10,000 · paid last 24h +0.025%

Price spread now: Popdex against gTrade (Gains Network)−0.044%7-day average −0.009% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$18as in the Price arb table

costs, in and out, $10k−$150.149% of the position

Long on gTrade (Gains Network)Short on Popdex

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.085%+$9 on $10k

Price spread, last 3 days (all we have)+0.028%+$3 · spread now −0.044%, 7d avg −0.009%

Together, before fees+0.114%+$11 on $10k · with fees, hour by hour

Funding pays, the price is against you. Popdex is 0.035% cheaper against gTrade (Gains Network) than usual: you would sell low and buy high (spread −0.044% now, against its 7-day average of −0.009%). If the spread goes back, that is −$3 on $10k: about 31 hours of funding at the current rate (+$3 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	gTrade (Gains Network) BTC/USD	85,673.6	L +0.0004% / S −0.0004%	pay 0.0001% / 1h	17m 13s	$36.7M	—	200x
Short	Popdex BTCUSDT	85,636	0.0096	get 0.0012% / 1h	17m 13s	$8.4M	$51.9M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Popdex 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 PopdexbpOrdersPrice spread, now −0.044%Rate

Funding earned: $19.22
Price spread: −0.044% → −0.009%: −$3.49
Slippage, 4 orders: −$1.55
Fee gTrade (Gains Network): 3.5 bp × 2 orders: −$7
Fee Popdex: 3.2 bp × 2 orders: −$6.4
Net: $0.78
Costs to cover: 0.149%
Break-even: 6.7 days

Slippage from gTrade (Gains Network): virtual book (oracle venue), 2 min ago; Popdex: live order book, 2 min ago.

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), 2 min ago	0.51 bp	4.0 bp −$4	4.1 bp −$41	4.5 bp −$446	6.4 bp −$3,182
Sell Popdex live order book, 2 min ago	0.06 bp	3.3 bp −$3	3.4 bp −$34	3.6 bp −$356	4.8 bp −$2,402

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	85,785	+0.130%	$2.2M	$10.5M	40x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	85,660	−0.016%	$8K	$3K	50x	as long as short
01 Exchange BTCUSD	−0.0064%	1h	85,632.6	−0.048%	$362K	$2.3M	50x	as long as short
dYdX BTC-USD	+0.0002%	1h	85,692.4	+0.022%	$16.8M	$21.0M	50x	as long as short
gTrade (Gains Network) BTC/USDlong	L +0.0004% / S −0.0004%	1h	85,673.6	long leg	$36.7M	—	200x
Injective BTC/USDC PERP	+0.0020%	1h	85,691	+0.020%	$340K	$26.9M	52x	as long as short
KuCoin XBTUSDTM	+0.0031%	8h	85,649.9	−0.028%	$900.5M	$753.5M	125x	as long as short
Aster BTCUSDT	+0.0033%	8h	85,630.4	−0.050%	$515.8M	$1.14B	200x	as long as short
RISEx BTC/USDC	+0.0044%	1h	85,667.3	−0.007%	$8.2M	$42.1M	25x	as long as short
Nado BTC-PERP	+0.0044%	1h	85,663.2	−0.012%	$22.6M	$227.4M	50x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX BTC-USDC	+0.0056%	8h	85,648.2	−0.030%	—	$17.1M	—	as long as short
Reya BTCRUSDPERP	+0.0059%	1h	85,635.1	−0.045%	$6.7M	$146.3M	40x	as long as short
HTX BTC-USDT	+0.0061%	8h	85,652.2	−0.025%	$2.27B	$947.6M	200x	as long as short
Bitget BTCUSDT	+0.0070%	8h	85,659.5	−0.016%	$2.95B	$5.08B	150x	as long as short
Binance BTCUSDT	+0.0091%	8h	85,660.3	−0.016%	$9.33B	$24.29B	150x	as long as short
ApeX Omni BTCUSDT	+0.0091%	1h	85,637.3	−0.042%	$140.0M	$318.1M	100x	as long as short
MEXC BTC_USDT	+0.0092%	8h	85,660	−0.016%	$5.08B	$5.74B	500x	as long as short
Lighter BTC	+0.0096%	1h	85,671.9	−0.002%	$170.5M	$992.8M	50x	as long as short
Lighter RH BTC	+0.0096%	1h	85,681.4	+0.009%	$23.5M	$147.7M	50x	as long as short
Popdex BTCUSDTshort	+0.0096%	1h	85,636	−0.044%	$8.4M	$51.9M	100x
Aevo BTC-PERP	+0.0096%	1h	85,655.3	−0.021%	$2.5M	$1.8M	20x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	85,616	−0.067%	$202K	$7.5M	50x	as long as short
Paradex BTC-USD-PERP	+0.0100%	8h	85,637.8	−0.042%	$3.8M	$8.4M	50x	as long as short
Hyperliquid BTC	+0.0100%	1h	85,707	+0.039%	$3.76B	$4.98B	40x	as long as short
Pacifica BTC	+0.0100%	1h	85,692	+0.021%	$40.8M	$571.9M	50x	as long as short
Bybit BTCUSDT	+0.0100%	8h	85,673.6	0.000%	$5.31B	$9.74B	150x	as long as short
OKX BTC-USDT-SWAP	+0.0100%	8h	85,672.8	−0.001%	$2.54B	$12.34B	100x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	85,652	−0.025%	$3.9M	$18.3M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	85,616	−0.067%	$7.2M	$97.6M	40x	as long as short
Bulk BTC-USD	+0.0100%	1h	85,744.8	+0.083%	$590.5M	$195.3M	40x	as long as short
Gate BTC_USDT	+0.0100%	8h	85,666.7	−0.008%	$5.59B	$10.57B	200x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	85,649.4	−0.028%	$35.2M	$165.3M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	85,688	+0.017%	$156.6M	$555.8M	—	as long as short
edgeX BTCUSDC	+0.0100%	4h	85,614.3	−0.069%	$278.4M	$941.4M	100x	as long as short
GRVT BTC_USDT_Perp	+0.0100%	8h	85,656.6	−0.020%	$214.9M	$164.7M	50x	as long as short
StandX BTC-USD	+0.0100%	1h	85,624.3	−0.058%	$30.3M	$208.8M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	85,702.1	+0.033%	—	$11.8M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	85,655	−0.022%	$11.0M	$14.2M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	85,663	−0.012%	$187K	$3.3M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	85,656.2	−0.020%	$2.4M	$9.1M	100x	as long as short
Bluefin BTC-PERP	+0.0100%	1h	85,701.5	+0.033%	$186K	$708K	40x	as long as short
Derive BTC-PERP	+0.0100%	1h	85,661.5	−0.014%	$30.0M	$56.0M	15x	as long as short
SunX BTC-USDT	+0.0100%	8h	85,628.8	−0.052%	$2.9M	$6.6M	100x	as long as short
SoDEX BTC-USD	+0.0100%	1h	85,660	−0.016%	$60.0M	$337.0M	40x	as long as short
Phemex BTCUSDT	+0.0100%	8h	85,668	−0.007%	$153.3M	$480.8M	150x	as long as short
Extended BTC-USD	+0.0104%	1h	85,643.1	−0.036%	$44.0M	$227.9M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0056%	1h	85,652.6	−0.024%	—	$101.9M	500x	as long as short
Coinbase International BTC-PERP-INTX	+0.0112%	1h	85,704	+0.035%	$131.2M	$5.15B	50x	as long as short
Hibachi BTC/USDT-P	+0.0144%	1h	85,671.4	−0.003%	$694K	$7.8M	30x	as long as short
Kraken Futures PF_XBTUSD	+0.0146%	1h	85,692.5	+0.022%	$187.9M	$963.6M	100x	as long as short
Aftermath Perps BTCUSD	+0.0171%	1h	85,703	+0.034%	$78K	$219K	20x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0203% / S −0.0189%	1h	85,670.8	−0.003%	$13.5M	—	200x	as long as short
Kalshi KXBTCPERP	+0.0212%	8h	85,676	+0.003%	$10.3M	$770.1M	6.4x	as long as short
Deribit BTC-PERPETUAL	+0.0219%	1h	85,710.9	+0.043%	$894.7M	$1.54B	50x	as long as short
Perpl BTC	+0.0447%	43m	85,666.2	−0.009%	$513K	$20.5M	6.7x	as long as short