BTC

Alert

Funding spread now, next payment 15:00 UTC−0.0593%/8h

next payment, per $10,000−$0.74paid, last 24h−0.096%paid, last 7 days−0.212%to open and close $10k−$16

The current rate is far above what this pair has been paying: over the last 7 days it paid -0.212% in total (about -11.1% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.74 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter BTC	85,606.4	0.0096	pay 0.0012% / 1h	28m 32s	$179.4M	$871.1M	50x
Short	Bluefin BTC-PERP	85,638	−0.0497	pay 0.0062% / 1h	28m 32s	$143K	$401K	40x

Funding history

latest

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Funding on every exchange

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Profit calculator

Position, each leg$Hold fordaysFee LighterbpFee BluefinbpOrdersRate

Funding earned: −$124.62
Slippage, 4 orders: −$8.79
Fee Lighter: 0 bp × 2 orders: $0
Fee Bluefin: 3.5 bp × 2 orders: −$7
Net: −$140.41
Break-even: never at this rate

Slippage from Lighter: live order book, 7 min ago; Bluefin: live order book, 27 min ago.

Price risk

price view

Price gap now: +0.037%
Avg gap 7d: −0.045%

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 Lighter live order book, 7 min ago	0.01 bp	0.1 bp $0	0.1 bp −$1	0.7 bp −$71	3.4 bp −$1,676
Sell Bluefin live order book, 27 min ago	2.50 bp	7.4 bp −$7	12.7 bp −$127	doesn't fit	doesn't fit

BTC on 55 venues

lowest funding first. Swap a leg.

Exchange	Funding /8h	Every	OI	Vol 24h	Max lev
Bluefin BTC-PERPshort	−0.0497%	1h	$143K	$401K	40x
Perpl BTC	−0.0447%	43m	$394K	$30.9M	6.7x	as long as short
01 Exchange BTCUSD	−0.0104%	1h	$283K	$2.3M	50x	as long as short
edgeX BTCUSDC	−0.0094%	4h	$285.1M	$809.0M	100x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	$8K	$3K	50x	as long as short
Aftermath Perps BTCUSD	−0.0076%	1h	$86K	$142K	20x	as long as short
ApeX Omni BTCUSDT	−0.0036%	1h	$138.4M	$317.0M	100x	as long as short
Reya BTCRUSDPERP	−0.0031%	1h	$6.8M	$137.2M	40x	as long as short
Gate BTC_USDT	−0.0012%	8h	$6.09B	$8.69B	200x	as long as short
Bitget BTCUSDT	−0.0009%	8h	$2.97B	$4.33B	150x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	OI	Vol 24h	Max lev
BingX BTC-USDT	−0.0009%	8h	—	$1.31B	—	as long as short
Phemex BTCUSDT	−0.0009%	8h	$157.9M	$378.5M	150x	as long as short
dYdX BTC-USD	0.0000%	1h	$16.7M	$14.7M	50x	as long as short
Kalshi KXBTCPERP	0.0000%	8h	$9.1M	$514.1M	6.4x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0005% / S −0.0004%	1h	$36.7M	—	200x	as long as short
Phoenix BTC	+0.0015%	1h	$1.6M	$10.8M	40x	as long as short
SoDEX BTC-USD	+0.0021%	1h	$61.0M	$258.6M	40x	as long as short
HTX BTC-USDT	+0.0039%	8h	$2.29B	$786.6M	200x	as long as short
Aster BTCUSDT	+0.0040%	8h	$487.6M	$1.03B	200x	as long as short
Kraken Futures PF_XBTUSD	+0.0042%	1h	$186.8M	$761.2M	100x	as long as short
OKX BTC-USDT-SWAP	+0.0049%	8h	$2.58B	$10.84B	100x	as long as short
KuCoin XBTUSDTM	+0.0064%	8h	$790.1M	$587.0M	125x	as long as short
Bullet BTC-USD	+0.0068%	1h	$248K	$3.3M	20x	as long as short
Nado BTC-PERP	+0.0072%	1h	$23.8M	$223.9M	50x	as long as short
Hibachi BTC/USDT-P	+0.0080%	1h	$592K	$7.2M	30x	as long as short
Paradex BTC-USD-PERP	+0.0082%	8h	$4.3M	$6.5M	50x	as long as short
Popdex BTCUSDT	+0.0088%	1h	$8.4M	$41.4M	100x	as long as short
MEXC BTC_USDT	+0.0088%	8h	$4.95B	$4.75B	500x	as long as short
Aevo BTC-PERP	+0.0088%	1h	$2.4M	$1.6M	20x	as long as short
Binance BTCUSDT	+0.0088%	8h	$9.59B	$19.94B	150x	as long as short
Lighter BTClong	+0.0096%	1h	$179.4M	$871.1M	50x
Lighter RH BTC	+0.0096%	1h	$25.3M	$133.5M	50x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	$197K	$5.0M	50x	as long as short
Pacifica BTC	+0.0100%	1h	$36.8M	$323.4M	50x	as long as short
Bybit BTCUSDT	+0.0100%	8h	$5.10B	$7.95B	150x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	$3.9M	$15.6M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	$6.1M	$77.9M	40x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	$39.6M	$100.4M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	$174.8M	$467.7M	—	as long as short
StandX BTC-USD	+0.0100%	1h	$30.6M	$244.8M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	—	$13.1M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	$10.8M	$10.8M	50x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	$2.4M	$6.8M	100x	as long as short
Derive BTC-PERP	+0.0100%	1h	$28.7M	$55.7M	15x	as long as short
SunX BTC-USDT	+0.0100%	8h	$3.3M	$5.4M	100x	as long as short
Bulk BTC-USD	+0.0100%	1h	$535.4M	$59.7M	40x	as long as short
Extended BTC-USD	+0.0104%	1h	$47.5M	$201.9M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0048%	1h	—	$86.9M	500x	as long as short
Coinbase International BTC-PERP-INTX	+0.0112%	1h	$144.4M	$6.17B	50x	as long as short
Hyperliquid BTC	+0.0133%	1h	$3.85B	$4.13B	40x	as long as short
RISEx BTC/USDC	+0.0178%	1h	$8.5M	$37.1M	25x	as long as short
Injective BTC/USDC PERP	+0.0180%	1h	$308K	$27.0M	52x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0199% / S −0.0202%	1h	$13.3M	—	200x	as long as short
BloFin BTC-USDT	+0.0209%	8h	$421.1M	$488.8M	150x	as long as short
Deribit BTC-PERPETUAL	+0.0453%	1h	$857.2M	$956.6M	50x	as long as short