BTC

Alert

Funding spread now, next payment 16:00 UTC+0.0450%/8h

next payment, per $10,000+$0.56paid, last 24h+0.074%paid, last 3 days+0.222%to open and closeno order book

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hotstuff BTC-PERP	85,940	−0.0080	get 0.0010% / 1h	53m 23s	$9K	$3K	50x
Short	Deribit BTC-PERPETUAL	86,038.4	0.0370	get 0.0046% / 1h	53m 23s	$880.6M	$1.02B	50x

Funding history

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Funding on every exchange

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Profit calculator

Position, each leg$Hold fordaysFee HotstuffbpFee DeribitbpOrdersRate

Funding earned: $94.42
Slippage, 4 orders: no order book: not counted
Fee Hotstuff: 2.5 bp × 2 orders: −$5
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: $82.42
Break-even: 0.9 days

Slippage unknown: Hotstuff: no order-book sample; Deribit: live order book, 2 min ago. Net counts fees only.

Price risk

price view

Price gap now: +0.114%
Avg gap 7d: —

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 Hotstuff no order-book sample	—	—	—	—	—
Sell Deribit live order book, 2 min ago	0.03 bp	3.5 bp −$4	3.5 bp −$35	7.6 bp −$757	16.5 bp −$8,233

Hotstuff: 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	−0.0223%	43m	$458K	$30.1M	6.7x	as long as short
ApeX Omni BTCUSDT	−0.0165%	1h	$139.6M	$317.7M	100x	as long as short
01 Exchange BTCUSD	−0.0120%	1h	$281K	$2.4M	50x	as long as short
edgeX BTCUSDC	−0.0106%	4h	$278.3M	$851.2M	100x	as long as short
Phoenix BTC	−0.0086%	1h	$1.6M	$10.8M	40x	as long as short
Hotstuff BTC-PERPlong	−0.0080%	1h	$9K	$3K	50x
Aftermath Perps BTCUSD	−0.0078%	1h	$87K	$150K	20x	as long as short
Phemex BTCUSDT	−0.0027%	8h	$157.8M	$390.4M	150x	as long as short
Reya BTCRUSDPERP	−0.0025%	1h	$6.7M	$137.5M	40x	as long as short
Gate BTC_USDT	−0.0008%	8h	$6.13B	$9.04B	200x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	OI	Vol 24h	Max lev
BingX BTC-USDT	−0.0008%	8h	—	$1.35B	—	as long as short
Bitget BTCUSDT	−0.0007%	8h	$2.95B	$4.54B	150x	as long as short
dYdX BTC-USD	0.0000%	1h	$16.7M	$16.3M	50x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0005% / S −0.0004%	1h	$36.8M	—	200x	as long as short
OKX BTC-USDT-SWAP	+0.0035%	8h	$2.61B	$11.28B	100x	as long as short
Aster BTCUSDT	+0.0046%	8h	$490.0M	$1.10B	200x	as long as short
KuCoin XBTUSDTM	+0.0051%	8h	$793.8M	$609.2M	125x	as long as short
HTX BTC-USDT	+0.0053%	8h	$2.30B	$812.5M	200x	as long as short
SoDEX BTC-USD	+0.0058%	1h	$61.3M	$259.1M	40x	as long as short
Kraken Futures PF_XBTUSD	+0.0071%	1h	$183.8M	$796.6M	100x	as long as short
MEXC BTC_USDT	+0.0079%	8h	$5.03B	$4.90B	500x	as long as short
Binance BTCUSDT	+0.0079%	8h	$9.58B	$20.99B	150x	as long as short
Aevo BTC-PERP	+0.0080%	1h	$2.4M	$1.6M	20x	as long as short
Paradex BTC-USD-PERP	+0.0080%	8h	$4.4M	$6.6M	50x	as long as short
Lighter BTC	+0.0096%	1h	$179.0M	$886.9M	50x	as long as short
Lighter RH BTC	+0.0096%	1h	$25.3M	$134.7M	50x	as long as short
Popdex BTCUSDT	+0.0096%	1h	$8.5M	$43.7M	100x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	$190K	$5.3M	50x	as long as short
Nado BTC-PERP	+0.0100%	1h	$23.5M	$229.4M	50x	as long as short
Pacifica BTC	+0.0100%	1h	$36.5M	$337.2M	50x	as long as short
Bybit BTCUSDT	+0.0100%	8h	$5.15B	$8.32B	150x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	$3.9M	$16.1M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	$5.4M	$81.2M	40x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	$39.2M	$102.9M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	$171.7M	$501.4M	—	as long as short
StandX BTC-USD	+0.0100%	1h	$30.7M	$240.4M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	—	$12.8M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	$10.9M	$11.5M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	$244K	$3.3M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	$2.4M	$7.0M	100x	as long as short
Bluefin BTC-PERP	+0.0100%	1h	$144K	$404K	40x	as long as short
Derive BTC-PERP	+0.0100%	1h	$30.2M	$58.4M	15x	as long as short
SunX BTC-USDT	+0.0100%	8h	$3.3M	$5.6M	100x	as long as short
Bulk BTC-USD	+0.0100%	1h	$541.8M	$78.7M	40x	as long as short
Kalshi KXBTCPERP	+0.0103%	8h	$10.3M	$548.1M	6.4x	as long as short
Extended BTC-USD	+0.0104%	1h	$48.2M	$206.5M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0048%	1h	—	$87.0M	500x	as long as short
Coinbase International BTC-PERP-INTX	+0.0104%	1h	$150.5M	$6.24B	50x	as long as short
Injective BTC/USDC PERP	+0.0108%	1h	$304K	$27.0M	52x	as long as short
Hibachi BTC/USDT-P	+0.0120%	1h	$626K	$7.3M	30x	as long as short
RISEx BTC/USDC	+0.0128%	1h	$8.7M	$38.2M	25x	as long as short
BloFin BTC-USDT	+0.0183%	8h	$425.5M	$526.5M	150x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0198% / S −0.0177%	1h	$12.6M	—	200x	as long as short
Hyperliquid BTC	+0.0319%	1h	$3.90B	$4.27B	40x	as long as short
Deribit BTC-PERPETUALshort	+0.0370%	1h	$880.6M	$1.02B	50x