BTC

Alert

Funding spread now, next payment 16:00 UTC+0.0025%/8h

next payment, per $10,000+$0.03paid, last 24h+0.004%paid, last 7 days+0.022%to open and close $10k−$12

Long on Kraken Futures Short on Lighter RH

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_XBTUSD	85,853.1	0.0071	pay 0.0009% / 1h	32m 00s	$185.4M	$816.0M	100x
Short	Lighter RH BTC	85,835.2	0.0096	get 0.0012% / 1h	32m 00s	$24.8M	$137.9M	50x

Funding history

latest

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Funding on every exchange

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Profit calculator

Position, each leg$Hold fordaysFee Kraken FuturesbpFee Lighter RHbpOrdersRate

Funding earned: $5.27
Slippage, 4 orders: −$2.12
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Lighter RH: 0 bp × 2 orders: $0
Net: −$6.85
Break-even: 16.1 days

Slippage from Kraken Futures: live order book, 4 min ago; Lighter RH: live order book, 4 min ago.

Price risk

price view

Price gap now: −0.021%
Avg gap 7d: +0.008%

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 Kraken Futures live order book, 4 min ago	0.06 bp	5.1 bp −$5	5.1 bp −$51	5.6 bp −$560	7.3 bp −$3,651
Sell Lighter RH live order book, 4 min ago	0.59 bp	0.6 bp −$1	0.8 bp −$8	3.1 bp −$312	24.7 bp −$12.3K

BTC on 55 venues

lowest funding first. Swap a leg.

Exchange	Funding /8h	Every	OI	Vol 24h	Max lev
Perpl BTC	−0.0223%	43m	$447K	$30.1M	6.7x	as long as short
BloFin BTC-USDT	−0.0121%	8h	$429.0M	$542.2M	150x	as long as short
edgeX BTCUSDC	−0.0112%	4h	$278.1M	$871.2M	100x	as long as short
ApeX Omni BTCUSDT	−0.0106%	1h	$139.1M	$318.6M	100x	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	$3K	50x	as long as short
01 Exchange BTCUSD	−0.0072%	1h	$287K	$2.4M	50x	as long as short
Aftermath Perps BTCUSD	−0.0045%	1h	$86K	$155K	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	$6.13B	$9.39B	200x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	OI	Vol 24h	Max lev
Phemex BTCUSDT	−0.0013%	8h	$156.8M	$401.9M	150x	as long as short
SoDEX BTC-USD	−0.0012%	1h	$60.9M	$283.5M	40x	as long as short
Bitget BTCUSDT	−0.0005%	8h	$2.95B	$4.67B	150x	as long as short
BingX BTC-USDC	−0.0005%	8h	—	$14.8M	—	as long as short
dYdX BTC-USD	0.0000%	1h	$17.3M	$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	+0.0031%	8h	$2.63B	$11.57B	100x	as long as short
Aster BTCUSDT	+0.0040%	8h	$486.4M	$1.12B	200x	as long as short
KuCoin XBTUSDTM	+0.0041%	8h	$788.0M	$616.2M	125x	as long as short
HTX BTC-USDT	+0.0062%	8h	$2.29B	$845.1M	200x	as long as short
Aevo BTC-PERP	+0.0064%	1h	$2.4M	$1.6M	20x	as long as short
Binance BTCUSDT	+0.0068%	8h	$9.52B	$21.64B	150x	as long as short
MEXC BTC_USDT	+0.0068%	8h	$5.08B	$5.08B	500x	as long as short
Kraken Futures PF_XBTUSDlong	+0.0071%	1h	$185.4M	$816.0M	100x
Paradex BTC-USD-PERP	+0.0086%	8h	$4.4M	$6.6M	50x	as long as short
Lighter BTC	+0.0096%	1h	$172.1M	$924.7M	50x	as long as short
Lighter RH BTCshort	+0.0096%	1h	$24.8M	$137.9M	50x
Popdex BTCUSDT	+0.0096%	1h	$8.4M	$45.3M	100x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	$192K	$5.4M	50x	as long as short
Nado BTC-PERP	+0.0100%	1h	$24.0M	$230.0M	50x	as long as short
Pacifica BTC	+0.0100%	1h	$36.5M	$344.9M	50x	as long as short
Bybit BTCUSDT	+0.0100%	8h	$5.16B	$8.47B	150x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	$4.0M	$16.3M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	$5.8M	$83.0M	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	$39.0M	$106.3M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	$170.5M	$507.8M	—	as long as short
StandX BTC-USD	+0.0100%	1h	$30.6M	$233.5M	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	$11.7M	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	$7.2M	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	—	$89.2M	500x	as long as short
Coinbase International BTC-PERP-INTX	+0.0104%	1h	$150.9M	$6.24B	50x	as long as short
Kalshi KXBTCPERP	+0.0106%	8h	$11.8M	$568.1M	6.4x	as long as short
Injective BTC/USDC PERP	+0.0108%	1h	$305K	$27.0M	52x	as long as short
RISEx BTC/USDC	+0.0128%	1h	$8.3M	$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	$631K	$7.3M	30x	as long as short
Hyperliquid BTC	+0.0227%	1h	$3.91B	$4.37B	40x	as long as short
Deribit BTC-PERPETUAL	+0.0294%	1h	$891.1M	$1.07B	50x	as long as short