BTC

Alert

Funding spread now, next payment 15:00 UTC+0.0028%/8h

next payment, per $10,000+$0.03paid, last 24h−0.048%paid, last 7 days−0.305%to open and closeno order book

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hibachi BTC/USDT-P	85,654.6	0.0072	pay 0.0009% / 1h	24m 48s	$615K	$7.2M	30x
Short	Ondo Perps BTC-USD.P	85,862	0.0100	get 0.0013% / 1h	24m 48s	$3.9M	$15.7M	25x

Funding history

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Funding on every exchange

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Profit calculator

Position, each leg$Hold fordaysFee HibachibpFee Ondo PerpsbpOrdersRate

Funding earned: $5.88
Slippage, 4 orders: no order book: not counted
Fee Hibachi: 4.5 bp × 2 orders: −$9
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Net: −$8.12
Break-even: 16.7 days

Slippage unknown: Hibachi: live order book, 1 min ago; Ondo Perps: no order-book sample. Net counts fees only.

Price risk

price view

Price gap now: +0.242%
Avg gap 7d: −0.040%

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 Hibachi live order book, 1 min ago	0.01 bp	5.9 bp −$6	7.4 bp −$74	67.9 bp −$6,790	doesn't fit
Sell Ondo Perps no order-book sample	—	—	—	—	—

Ondo Perps: 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	$390K	$30.9M	6.7x	as long as short
Bluefin BTC-PERP	−0.0371%	1h	$143K	$402K	40x	as long as short
edgeX BTCUSDC	−0.0112%	4h	$285.2M	$811.1M	100x	as long as short
01 Exchange BTCUSD	−0.0104%	1h	$282K	$2.3M	50x	as long as short
Aftermath Perps BTCUSD	−0.0085%	1h	$86K	$144K	20x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	$8K	$3K	50x	as long as short
ApeX Omni BTCUSDT	−0.0052%	1h	$138.6M	$317.3M	100x	as long as short
Reya BTCRUSDPERP	−0.0030%	1h	$6.8M	$137.2M	40x	as long as short
Phemex BTCUSDT	−0.0018%	8h	$159.1M	$380.6M	150x	as long as short
Gate BTC_USDT	−0.0010%	8h	$6.10B	$8.76B	200x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	OI	Vol 24h	Max lev
Bitget BTCUSDT	−0.0009%	8h	$2.98B	$4.36B	150x	as long as short
BingX BTC-USDC	−0.0009%	8h	—	$14.5M	—	as long as short
dYdX BTC-USD	0.0000%	1h	$17.3M	$15.2M	50x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0005% / S −0.0004%	1h	$36.8M	—	200x	as long as short
Phoenix BTC	+0.0015%	1h	$1.6M	$10.8M	40x	as long as short
SoDEX BTC-USD	+0.0025%	1h	$61.2M	$258.7M	40x	as long as short
HTX BTC-USDT	+0.0040%	8h	$2.30B	$793.6M	200x	as long as short
Aster BTCUSDT	+0.0041%	8h	$489.7M	$1.04B	200x	as long as short
Kraken Futures PF_XBTUSD	+0.0042%	1h	$186.4M	$769.4M	100x	as long as short
OKX BTC-USDT-SWAP	+0.0048%	8h	$2.59B	$10.95B	100x	as long as short
KuCoin XBTUSDTM	+0.0062%	8h	$790.3M	$587.4M	125x	as long as short
Bullet BTC-USD	+0.0067%	1h	$248K	$3.3M	20x	as long as short
Hibachi BTC/USDT-Plong	+0.0072%	1h	$615K	$7.2M	30x
Nado BTC-PERP	+0.0073%	1h	$23.8M	$225.1M	50x	as long as short
Aevo BTC-PERP	+0.0080%	1h	$2.4M	$1.6M	20x	as long as short
Paradex BTC-USD-PERP	+0.0083%	8h	$4.3M	$6.5M	50x	as long as short
MEXC BTC_USDT	+0.0087%	8h	$4.97B	$4.79B	500x	as long as short
Binance BTCUSDT	+0.0087%	8h	$9.62B	$20.13B	150x	as long as short
Popdex BTCUSDT	+0.0088%	1h	$8.5M	$41.4M	100x	as long as short
Lighter BTC	+0.0096%	1h	$178.2M	$878.2M	50x	as long as short
Lighter RH BTC	+0.0096%	1h	$25.3M	$134.7M	50x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	$199K	$5.1M	50x	as long as short
Pacifica BTC	+0.0100%	1h	$36.9M	$323.4M	50x	as long as short
Bybit BTCUSDT	+0.0100%	8h	$5.11B	$8.04B	150x	as long as short
Ondo Perps BTC-USD.Pshort	+0.0100%	1h	$3.9M	$15.7M	25x
Arcus BTC-USD	+0.0100%	1h	$5.9M	$78.3M	40x	as long as short
Bulk BTC-USD	+0.0100%	1h	$537.2M	$59.9M	40x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	$39.6M	$99.7M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	$174.3M	$469.7M	—	as long as short
StandX BTC-USD	+0.0100%	1h	$30.6M	$244.3M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	—	$13.2M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	$10.9M	$10.9M	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	$29.0M	$56.7M	15x	as long as short
SunX BTC-USDT	+0.0100%	8h	$3.3M	$5.5M	100x	as long as short
Kalshi KXBTCPERP	+0.0101%	8h	$8.9M	$518.0M	6.4x	as long as short
Extended BTC-USD	+0.0104%	1h	$47.4M	$202.5M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0048%	1h	—	$87.2M	500x	as long as short
Coinbase International BTC-PERP-INTX	+0.0112%	1h	$145.5M	$6.20B	50x	as long as short
Hyperliquid BTC	+0.0146%	1h	$3.87B	$4.15B	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]	L +0.0200% / S −0.0203%	1h	$13.3M	—	200x	as long as short
BloFin BTC-USDT	+0.0207%	8h	$426.1M	$495.0M	150x	as long as short
Deribit BTC-PERPETUAL	+0.0374%	1h	$859.9M	$966.0M	50x	as long as short