BTC

Alert

Funding spread now, next payment 16:00 UTC−0.0154%/8h

next payment, per $10,000−$0.19paid, last 24h−0.008%paid, last 7 days−0.102%to open and closeno order book

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid BTC	85,956	0.0254	pay 0.0032% / 1h	18m 38s	$3.89B	$4.45B	40x
Short	Derive BTC-PERP	85,946.3	0.0100	get 0.0013% / 1h	18m 38s	$30.1M	$59.2M	15x

Funding history

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Funding on every exchange

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Profit calculator

Position, each leg$Hold fordaysFee HyperliquidbpFee DerivebpOrdersRate

Funding earned: −$32.42
Slippage, 4 orders: no order book: not counted
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Derive: 3 bp × 2 orders: −$6
Net: −$47.42
Break-even: never at this rate

Slippage unknown: Hyperliquid: live order book, 7 min ago; Derive: no order-book sample. Net counts fees only.

Price risk

price view

Price gap now: −0.011%
Avg gap 7d: −0.077%

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 Hyperliquid live order book, 7 min ago	0.06 bp	4.6 bp −$5	4.6 bp −$46	4.7 bp −$469	doesn't fit
Sell Derive no order-book sample	—	—	—	—	—

Derive: 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-PERP	−0.0328%	1h	$143K	$406K	40x	as long as short
ApeX Omni BTCUSDT	−0.0129%	1h	$139.1M	$318.7M	100x	as long as short
Perpl BTC	−0.0112%	43m	$428K	$29.6M	6.7x	as long as short
Phoenix BTC	−0.0086%	1h	$1.8M	$10.8M	40x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	$9K	$4K	50x	as long as short
01 Exchange BTCUSD	−0.0056%	1h	$288K	$2.4M	50x	as long as short
BloFin BTC-USDT	−0.0056%	8h	$431.2M	$560.5M	150x	as long as short
Reya BTCRUSDPERP	−0.0022%	1h	$6.7M	$137.8M	40x	as long as short
Aftermath Perps BTCUSD	−0.0020%	1h	$86K	$154K	20x	as long as short
Phemex BTCUSDT	−0.0018%	8h	$153.7M	$405.4M	150x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	OI	Vol 24h	Max lev
Gate BTC_USDT	−0.0018%	8h	$6.12B	$9.49B	200x	as long as short
BingX BTC-USDC	−0.0005%	8h	—	$14.9M	—	as long as short
Bitget BTCUSDT	−0.0004%	8h	$2.97B	$4.69B	150x	as long as short
SoDEX BTC-USD	−0.0003%	1h	$61.0M	$283.5M	40x	as long as short
dYdX BTC-USD	0.0000%	1h	$17.2M	$17.4M	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	+0.0026%	8h	$2.65B	$11.64B	100x	as long as short
KuCoin XBTUSDTM	+0.0034%	8h	$789.9M	$617.9M	125x	as long as short
Aster BTCUSDT	+0.0042%	8h	$486.9M	$1.12B	200x	as long as short
MEXC BTC_USDT	+0.0064%	8h	$5.08B	$5.15B	500x	as long as short
Aevo BTC-PERP	+0.0064%	1h	$2.4M	$1.6M	20x	as long as short
Binance BTCUSDT	+0.0065%	8h	$9.53B	$21.73B	150x	as long as short
HTX BTC-USDT	+0.0067%	8h	$2.29B	$847.8M	200x	as long as short
Kraken Futures PF_XBTUSD	+0.0071%	1h	$186.1M	$817.8M	100x	as long as short
Popdex BTCUSDT	+0.0088%	1h	$8.5M	$45.6M	100x	as long as short
Paradex BTC-USD-PERP	+0.0090%	8h	$4.4M	$6.7M	50x	as long as short
Bybit BTCUSDT	+0.0095%	8h	$5.20B	$8.54B	150x	as long as short
Lighter BTC	+0.0096%	1h	$172.0M	$932.2M	50x	as long as short
Lighter RH BTC	+0.0096%	1h	$24.7M	$139.4M	50x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	$190K	$5.5M	50x	as long as short
Nado BTC-PERP	+0.0100%	1h	$23.8M	$229.8M	50x	as long as short
Pacifica BTC	+0.0100%	1h	$36.9M	$351.8M	50x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	$3.9M	$16.3M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	$5.7M	$84.5M	40x	as long as short
Bulk BTC-USD	+0.0100%	1h	$548.9M	$117.2M	40x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	$39.0M	$107.4M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	$170.4M	$509.5M	—	as long as short
edgeX BTCUSDC	+0.0100%	4h	$278.0M	$878.0M	100x	as long as short
StandX BTC-USD	+0.0100%	1h	$30.6M	$231.5M	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	$11.0M	$11.7M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	$243K	$3.3M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	$2.4M	$7.2M	100x	as long as short
Derive BTC-PERPshort	+0.0100%	1h	$30.1M	$59.2M	15x
SunX BTC-USDT	+0.0100%	8h	$3.3M	$6.1M	100x	as long as short
Kalshi KXBTCPERP	+0.0100%	8h	$11.9M	$575.9M	6.4x	as long as short
Extended BTC-USD	+0.0104%	1h	$48.7M	$209.8M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0048%	1h	—	$89.6M	500x	as long as short
Coinbase International BTC-PERP-INTX	+0.0104%	1h	$150.9M	$6.23B	50x	as long as short
Injective BTC/USDC PERP	+0.0108%	1h	$307K	$27.0M	52x	as long as short
RISEx BTC/USDC	+0.0128%	1h	$8.7M	$38.7M	25x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0198% / S −0.0175%	1h	$12.5M	—	200x	as long as short
Hyperliquid BTClong	+0.0254%	1h	$3.89B	$4.45B	40x
Hibachi BTC/USDT-P	+0.0256%	1h	$697K	$7.4M	30x	as long as short
Deribit BTC-PERPETUAL	+0.0334%	1h	$904.0M	$1.10B	50x	as long as short