BTC

Alert

Funding spread now, next payment 16:00 UTC−0.0004%/8h

paid, last 24h+0.019%paid, last 7 days+0.056%to open and closeno order book

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kalshi KXBTCPERP	85,833	0.0104	pay 0.0104% / 8h	4h 29m	$11.9M	$570.2M	6.4x
Short	Ondo Perps BTC-USD.P	85,861	0.0100	get 0.0013% / 1h	29m 29s	$3.9M	$16.3M	25x

Funding history

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Funding on every exchange

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Profit calculator

Position, each leg$Hold fordaysFee KalshibpFee Ondo PerpsbpOrdersRate

Funding earned: −$0.87
Slippage, 4 orders: no order book: not counted
Fee Kalshi: 5 bp × 2 orders: −$10
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Net: −$15.87
Break-even: never at this rate

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

Price risk

price view

Price gap now: +0.033%
Avg gap 7d: +0.003%

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 Kalshi live order book, 1 min ago	0.12 bp	5.3 bp −$5	6.9 bp −$69	7.6 bp −$755	12.3 bp −$6,174
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	−0.0223%	43m	$453K	$29.9M	6.7x	as long as short
ApeX Omni BTCUSDT	−0.0104%	1h	$139.2M	$318.7M	100x	as long as short
Phoenix BTC	−0.0086%	1h	$1.8M	$10.8M	40x	as long as short
BloFin BTC-USDT	−0.0082%	8h	$430.6M	$550.9M	150x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	$9K	$4K	50x	as long as short
01 Exchange BTCUSD	−0.0064%	1h	$288K	$2.4M	50x	as long as short
Aftermath Perps BTCUSD	−0.0040%	1h	$86K	$154K	20x	as long as short
Reya BTCRUSDPERP	−0.0022%	1h	$6.7M	$137.7M	40x	as long as short
Gate BTC_USDT	−0.0017%	8h	$6.14B	$9.41B	200x	as long as short
SoDEX BTC-USD	−0.0016%	1h	$60.8M	$283.5M	40x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	OI	Vol 24h	Max lev
Phemex BTCUSDT	−0.0014%	8h	$156.2M	$402.6M	150x	as long as short
Bitget BTCUSDT	−0.0005%	8h	$2.96B	$4.67B	150x	as long as short
BingX BTC-USDC	−0.0005%	8h	—	$14.9M	—	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	$36.7M	—	200x	as long as short
OKX BTC-USDT-SWAP	+0.0030%	8h	$2.63B	$11.59B	100x	as long as short
Aster BTCUSDT	+0.0038%	8h	$486.6M	$1.12B	200x	as long as short
KuCoin XBTUSDTM	+0.0039%	8h	$789.4M	$616.0M	125x	as long as short
HTX BTC-USDT	+0.0063%	8h	$2.29B	$845.5M	200x	as long as short
Aevo BTC-PERP	+0.0064%	1h	$2.4M	$1.6M	20x	as long as short
Binance BTCUSDT	+0.0066%	8h	$9.53B	$21.65B	150x	as long as short
MEXC BTC_USDT	+0.0067%	8h	$5.04B	$5.10B	500x	as long as short
Kraken Futures PF_XBTUSD	+0.0071%	1h	$185.3M	$816.7M	100x	as long as short
Paradex BTC-USD-PERP	+0.0087%	8h	$4.4M	$6.6M	50x	as long as short
Lighter BTC	+0.0096%	1h	$172.1M	$925.6M	50x	as long as short
Lighter RH BTC	+0.0096%	1h	$24.7M	$138.3M	50x	as long as short
Popdex BTCUSDT	+0.0096%	1h	$8.5M	$45.4M	100x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	$194K	$5.4M	50x	as long as short
Nado BTC-PERP	+0.0100%	1h	$23.9M	$229.6M	50x	as long as short
Pacifica BTC	+0.0100%	1h	$36.5M	$350.6M	50x	as long as short
Bybit BTCUSDT	+0.0100%	8h	$5.16B	$8.48B	150x	as long as short
Ondo Perps BTC-USD.Pshort	+0.0100%	1h	$3.9M	$16.3M	25x
Arcus BTC-USD	+0.0100%	1h	$5.8M	$83.4M	40x	as long as short
Bulk BTC-USD	+0.0100%	1h	$548.9M	$98.1M	40x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	$38.9M	$106.3M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	$169.3M	$508.3M	—	as long as short
edgeX BTCUSDC	+0.0100%	4h	$277.9M	$874.8M	100x	as long as short
StandX BTC-USD	+0.0100%	1h	$30.6M	$232.3M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	—	$12.4M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	$10.9M	$11.6M	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
Bluefin BTC-PERP	+0.0100%	1h	$144K	$406K	40x	as long as short
Derive BTC-PERP	+0.0100%	1h	$30.1M	$59.1M	15x	as long as short
SunX BTC-USDT	+0.0100%	8h	$3.3M	$6.0M	100x	as long as short
Extended BTC-USD	+0.0104%	1h	$48.8M	$209.5M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0048%	1h	—	$89.3M	500x	as long as short
Coinbase International BTC-PERP-INTX	+0.0104%	1h	$150.7M	$6.23B	50x	as long as short
Kalshi KXBTCPERPlong	+0.0104%	8h	$11.9M	$570.2M	6.4x
Injective BTC/USDC PERP	+0.0108%	1h	$305K	$27.0M	52x	as long as short
RISEx BTC/USDC	+0.0128%	1h	$8.4M	$38.8M	25x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0198% / S −0.0176%	1h	$12.5M	—	200x	as long as short
Hibachi BTC/USDT-P	+0.0224%	1h	$633K	$7.3M	30x	as long as short
Hyperliquid BTC	+0.0230%	1h	$3.89B	$4.40B	40x	as long as short
Deribit BTC-PERPETUAL	+0.0330%	1h	$894.4M	$1.08B	50x	as long as short