BTC

Alert

Funding spread now, next payment 15:00 UTC−0.0662%/8h

next payment, per $10,000−$0.83paid, last 24h−0.107%paid, last 3 days−0.169%to open and closeno order book

The current rate is far above what this pair has been paying: over the last 3 days it paid -0.169% in total (about -22.2% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.83 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX BTC/USD [WBTC.b-USDC]	85,621.7	L +0.0199% / S −0.0202%	pay 0.0025% / 1h	28m 10s	$13.3M	—	200x
Short	Bluefin BTC-PERP	85,624.7	−0.0462	pay 0.0058% / 1h	28m 10s	$143K	$401K	40x

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 GMXbpFee BluefinbpOrdersRate

Funding earned: −$138.95
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee Bluefin: 3.5 bp × 2 orders: −$7
Net: −$157.95
Break-even: never at this rate

Slippage unknown: GMX: no order-book sample; Bluefin: live order book, 27 min ago. Net counts fees only.

Price risk

price view

Price gap now: +0.003%
Avg gap 7d: −0.070%

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 GMX no order-book sample	—	—	—	—	—
Sell Bluefin live order book, 27 min ago	2.50 bp	7.4 bp −$7	12.7 bp −$127	doesn't fit	doesn't fit

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 55 venues

lowest funding first. Swap a leg.

Exchange	Funding /8h	Every	OI	Vol 24h	Max lev
Bluefin BTC-PERPshort	−0.0462%	1h	$143K	$401K	40x
Perpl BTC	−0.0447%	43m	$389K	$30.9M	6.7x	as long as short
01 Exchange BTCUSD	−0.0104%	1h	$283K	$2.3M	50x	as long as short
edgeX BTCUSDC	−0.0094%	4h	$285.1M	$809.0M	100x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	$8K	$3K	50x	as long as short
Aftermath Perps BTCUSD	−0.0078%	1h	$86K	$143K	20x	as long as short
ApeX Omni BTCUSDT	−0.0036%	1h	$138.4M	$317.0M	100x	as long as short
Reya BTCRUSDPERP	−0.0031%	1h	$6.7M	$137.2M	40x	as long as short
Gate BTC_USDT	−0.0012%	8h	$6.09B	$8.70B	200x	as long as short
Bitget BTCUSDT	−0.0009%	8h	$2.97B	$4.33B	150x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	OI	Vol 24h	Max lev
BingX BTC-USDT	−0.0009%	8h	—	$1.31B	—	as long as short
Phemex BTCUSDT	−0.0007%	8h	$157.9M	$378.8M	150x	as long as short
dYdX BTC-USD	0.0000%	1h	$16.7M	$14.7M	50x	as long as short
Kalshi KXBTCPERP	0.0000%	8h	$9.1M	$515.0M	6.4x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0005% / S −0.0004%	1h	$36.7M	—	200x	as long as short
Phoenix BTC	+0.0015%	1h	$1.6M	$10.8M	40x	as long as short
SoDEX BTC-USD	+0.0019%	1h	$60.9M	$258.6M	40x	as long as short
HTX BTC-USDT	+0.0039%	8h	$2.29B	$787.1M	200x	as long as short
Aster BTCUSDT	+0.0040%	8h	$487.8M	$1.03B	200x	as long as short
Kraken Futures PF_XBTUSD	+0.0042%	1h	$187.2M	$762.1M	100x	as long as short
OKX BTC-USDT-SWAP	+0.0049%	8h	$2.58B	$10.84B	100x	as long as short
KuCoin XBTUSDTM	+0.0063%	8h	$790.5M	$587.0M	125x	as long as short
Bullet BTC-USD	+0.0067%	1h	$247K	$3.3M	20x	as long as short
Hibachi BTC/USDT-P	+0.0072%	1h	$615K	$7.2M	30x	as long as short
Nado BTC-PERP	+0.0075%	1h	$23.5M	$224.2M	50x	as long as short
Paradex BTC-USD-PERP	+0.0082%	8h	$4.3M	$6.5M	50x	as long as short
Popdex BTCUSDT	+0.0088%	1h	$8.4M	$41.4M	100x	as long as short
MEXC BTC_USDT	+0.0088%	8h	$4.96B	$4.75B	500x	as long as short
Aevo BTC-PERP	+0.0088%	1h	$2.4M	$1.6M	20x	as long as short
Binance BTCUSDT	+0.0088%	8h	$9.60B	$19.95B	150x	as long as short
Lighter BTC	+0.0096%	1h	$179.4M	$871.4M	50x	as long as short
Lighter RH BTC	+0.0096%	1h	$25.3M	$133.7M	50x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	$197K	$5.0M	50x	as long as short
Pacifica BTC	+0.0100%	1h	$36.8M	$323.4M	50x	as long as short
Bybit BTCUSDT	+0.0100%	8h	$5.10B	$7.95B	150x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	$3.9M	$15.6M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	$6.1M	$77.9M	40x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	$39.3M	$100.7M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	$174.8M	$467.7M	—	as long as short
StandX BTC-USD	+0.0100%	1h	$30.6M	$244.8M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	—	$13.1M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	$10.8M	$10.8M	50x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	$2.4M	$6.8M	100x	as long as short
Derive BTC-PERP	+0.0100%	1h	$28.8M	$55.7M	15x	as long as short
SunX BTC-USDT	+0.0100%	8h	$3.3M	$5.4M	100x	as long as short
Bulk BTC-USD	+0.0100%	1h	$535.4M	$59.7M	40x	as long as short
Extended BTC-USD	+0.0104%	1h	$47.5M	$201.9M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0048%	1h	—	$86.9M	500x	as long as short
Coinbase International BTC-PERP-INTX	+0.0112%	1h	$144.5M	$6.17B	50x	as long as short
Hyperliquid BTC	+0.0134%	1h	$3.85B	$4.13B	40x	as long as short
RISEx BTC/USDC	+0.0178%	1h	$8.5M	$37.1M	25x	as long as short
Injective BTC/USDC PERP	+0.0180%	1h	$308K	$27.0M	52x	as long as short
GMX BTC/USD [WBTC.b-USDC]long	L +0.0199% / S −0.0202%	1h	$13.3M	—	200x
BloFin BTC-USDT	+0.0209%	8h	$421.1M	$488.8M	150x	as long as short
Deribit BTC-PERPETUAL	+0.0443%	1h	$858.1M	$958.1M	50x	as long as short