BTC

Alert

Funding spread now, next payment 14:00 UTC+0.0180%/8h

next payment, per $10,000+$0.23paid, last 24h+0.054%paid, last 3 days+0.256%to open and closeno order book

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hotstuff BTC-PERP	85,139	−0.0080	get 0.0010% / 1h	39m 01s	$9K	$2K	50x
Short	Pacifica BTC	85,149.6	0.0100	get 0.0013% / 1h	39m 01s	$36.4M	$289.3M	50x

Funding history

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Funding on every exchange

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Profit calculator

Position, each leg$Hold fordaysFee HotstuffbpFee PacificabpOrdersRate

Funding earned: $37.8
Slippage, 4 orders: no order book: not counted
Fee Hotstuff: 2.5 bp × 2 orders: −$5
Fee Pacifica: 4 bp × 2 orders: −$8
Net: $24.8
Break-even: 2.4 days

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

Price risk

price view

Price gap now: +0.012%
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 Pacifica live order book, 2 min ago	0.06 bp	4.1 bp −$4	doesn't fit	doesn't fit	doesn't fit

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	$417K	$31.9M	6.7x	as long as short
ApeX Omni BTCUSDT	−0.0205%	1h	$137.1M	$314.0M	100x	as long as short
edgeX BTCUSDC	−0.0100%	4h	$283.3M	$731.2M	100x	as long as short
Hotstuff BTC-PERPlong	−0.0080%	1h	$9K	$2K	50x
Gate BTC_USDT	−0.0060%	8h	$6.03B	$7.77B	200x	as long as short
Reya BTCRUSDPERP	−0.0050%	1h	$6.7M	$127.7M	40x	as long as short
Injective BTC/USDC PERP	−0.0036%	1h	$322K	$27.0M	52x	as long as short
01 Exchange BTCUSD	−0.0024%	1h	$314K	$2.1M	50x	as long as short
Bitget BTCUSDT	−0.0014%	8h	$2.93B	$3.95B	150x	as long as short
BingX BTC-USDC	−0.0013%	8h	—	$15.0M	—	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	OI	Vol 24h	Max lev
HTX BTC-USDT	−0.0010%	8h	$2.28B	$720.8M	200x	as long as short
SoDEX BTC-USD	−0.0005%	1h	$61.0M	$233.2M	40x	as long as short
dYdX BTC-USD	0.0000%	1h	$16.4M	$13.0M	50x	as long as short
Kalshi KXBTCPERP	0.0000%	8h	$8.9M	$445.0M	6.4x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0004% / S −0.0004%	1h	$36.4M	—	200x	as long as short
Aftermath Perps BTCUSD	+0.0009%	1h	$83K	$137K	20x	as long as short
Backpack BTC_USDC_PERP	+0.0028%	1h	$39.8M	$103.0M	75x	as long as short
Phemex BTCUSDT	+0.0039%	8h	$164.3M	$351.7M	150x	as long as short
Popdex BTCUSDT	+0.0048%	1h	$8.4M	$36.4M	100x	as long as short
Aster BTCUSDT	+0.0055%	8h	$489.8M	$865.7M	200x	as long as short
Nado BTC-PERP	+0.0072%	1h	$22.9M	$203.7M	50x	as long as short
OKX BTC-USDT-SWAP	+0.0075%	8h	$2.54B	$9.84B	100x	as long as short
Bullet BTC-USD	+0.0080%	1h	$229K	$3.3M	20x	as long as short
KuCoin XBTUSDTM	+0.0080%	8h	$802.5M	$544.1M	125x	as long as short
RISEx BTC/USDC	+0.0090%	1h	$8.3M	$34.7M	25x	as long as short
Lighter BTC	+0.0096%	1h	$187.9M	$768.6M	50x	as long as short
Lighter RH BTC	+0.0096%	1h	$25.0M	$121.2M	50x	as long as short
Aevo BTC-PERP	+0.0096%	1h	$2.4M	$1.7M	20x	as long as short
Paradex BTC-USD-PERP	+0.0098%	8h	$4.3M	$6.5M	50x	as long as short
SunX BTC-USDT	+0.0098%	8h	$3.3M	$5.0M	100x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	$233K	$4.5M	50x	as long as short
Pacifica BTCshort	+0.0100%	1h	$36.4M	$289.3M	50x
Binance BTCUSDT	+0.0100%	8h	$9.51B	$17.75B	150x	as long as short
Bybit BTCUSDT	+0.0100%	8h	$5.03B	$7.10B	150x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	$3.9M	$14.8M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	$6.4M	$72.1M	40x	as long as short
Bulk BTC-USD	+0.0100%	1h	$532.2M	$82.1M	40x	as long as short
MEXC BTC_USDT	+0.0100%	8h	$5.05B	$4.29B	500x	as long as short
Variational Omni BTC	+0.0100%	8h	$170.9M	$439.0M	—	as long as short
StandX BTC-USD	+0.0100%	1h	$30.4M	$248.7M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	—	$12.3M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	$10.7M	$9.7M	50x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	$2.2M	$6.3M	100x	as long as short
Bluefin BTC-PERP	+0.0100%	1h	$142K	$354K	40x	as long as short
Derive BTC-PERP	+0.0100%	1h	$26.1M	$49.8M	15x	as long as short
Extended BTC-USD	+0.0104%	1h	$47.0M	$172.5M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0048%	1h	—	$77.5M	500x	as long as short
Coinbase International BTC-PERP-INTX	+0.0120%	1h	$140.0M	$5.85B	50x	as long as short
Kraken Futures PF_XBTUSD	+0.0124%	1h	$185.2M	$689.1M	100x	as long as short
Phoenix BTC	+0.0126%	1h	$1.5M	$10.3M	40x	as long as short
Hyperliquid BTC	+0.0182%	1h	$3.86B	$3.76B	40x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0189% / S −0.0194%	1h	$12.9M	—	200x	as long as short
BloFin BTC-USDT	+0.0220%	8h	$419.2M	$400.5M	150x	as long as short
Hibachi BTC/USDT-P	+0.0224%	1h	$610K	$7.5M	30x	as long as short
Deribit BTC-PERPETUAL	+0.0365%	1h	$828.6M	$848.0M	50x	as long as short