Funding you earn now, next payment 04:00 UTC−0.0096%/8h= −10.5% APRpaid last 24h −0.021%
Price spread now: gTrade (Gains Network) against OKX−0.056%7-day average −0.007% · you buy dearer than you sell
Net, funding: paid 7d − costs—under 7 days of funding history
Net, price: spread back to 7d avg − costs−$23as in the Price arb table
costs, in and out, $10k−$180.180% of the position
Funding, last 3 days (all we have)−0.085%−$8 on $10k
+Price spread, last 7 days+0.073%+$7 · spread now −0.056%, 7d avg −0.007%
=Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and gTrade (Gains Network) is 0.050% cheaper against OKX than usual: you would sell low and buy high (−$5 if the spread goes back to its 7-day average of −0.007%). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | OKX BTC-USDT-SWAP | 85,495.3 | 0.0100 | pay 0.0100% / 8h | 4h 13m | $2.58B | $12.14B | 100x |
| Short | gTrade (Gains Network) BTC/USD | 85,447.1 | L +0.0005% / S −0.0004% | get 0.0001% / 1h | 13m 39s | $36.5M | — | 200x |
OKX BTC-USDT-SWAP
gTrade (Gains Network) BTC/USDFunding history
latest
Range statsloading…
Price spread between the two exchanges
gTrade (Gains Network) against OKX. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$20.06
- Price spread: −0.056% → −0.007%
- −$4.96
- Slippage, 4 orders
- −$1.05
- Fee OKX: 5 bp × 2 orders
- −$10
- Fee gTrade (Gains Network): 3.5 bp × 2 orders
- −$7
- Net
- −$43.07
- Costs to cover
- 0.180%
- Break-even
- never at this rate
Slippage from OKX: live order book, 6 min ago; gTrade (Gains Network): virtual book (oracle venue), 1 min ago.
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 OKX live order book, 6 min ago | 0.01 bp | 5.0 bp −$5 | 5.0 bp −$50 | 5.5 bp −$545 | 7.2 bp −$3,584 |
| Sell gTrade (Gains Network) virtual book (oracle venue), 1 min ago | 0.51 bp | 4.0 bp −$4 | 4.1 bp −$41 | 4.5 bp −$447 | 6.4 bp −$3,185 |
BTC on 56 venues
lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Phoenix BTC | −0.0179% | 1h | 85,466 | −0.034% | $2.1M | $10.3M | 40x | as long as short |
| Hotstuff BTC-PERP | −0.0080% | 1h | 85,465 | −0.035% | $8K | $3K | 50x | as long as short |
| 01 Exchange BTCUSD | −0.0056% | 1h | 85,486.8 | −0.010% | $365K | $2.3M | 50x | as long as short |
| KuCoin XBTUSDTM | −0.0027% | 8h | 85,454.4 | −0.048% | $919.2M | $752.1M | 125x | as long as short |
| BloFin BTC-USDT | −0.0021% | 8h | 85,452.4 | −0.050% | $417.8M | $668.4M | 150x | as long as short |
| gTrade (Gains Network) BTC/USDshort | L +0.0005% / S −0.0004% | 1h | 85,447.1 | −0.056% | $36.5M | — | 200x | |
| Aster BTCUSDT | +0.0011% | 8h | 85,469.2 | −0.031% | $515.2M | $1.10B | 200x | as long as short |
| dYdX BTC-USD | +0.0011% | 1h | 85,459.5 | −0.042% | $16.7M | $21.2M | 50x | as long as short |
| Nado BTC-PERP | +0.0018% | 1h | 85,450.1 | −0.053% | $25.3M | $221.8M | 50x | as long as short |
| Arcus BTC-USD | +0.0021% | 1h | 85,466.3 | −0.034% | $4.6M | $97.8M | 40x | as long as short |
Phoenix BTC
Hotstuff BTC-PERP
01 Exchange BTCUSD
KuCoin XBTUSDTM
BloFin BTC-USDT
Aster BTCUSDT
dYdX BTC-USD
Nado BTC-PERP
Arcus BTC-USDShow all 56 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| BingX BTC-USDT | +0.0062% | 8h | 85,488.5 | −0.008% | — | $1.54B | — | as long as short |
| Phemex BTCUSDT | +0.0077% | 8h | 85,451.6 | −0.051% | $147.7M | $488.2M | 150x | as long as short |
| Bitget BTCUSDT | +0.0078% | 8h | 85,486.8 | −0.010% | $2.95B | $5.08B | 150x | as long as short |
| Reya BTCRUSDPERP | +0.0084% | 1h | 85,429.5 | −0.077% | $6.7M | $146.8M | 40x | as long as short |
| Lighter BTC | +0.0096% | 1h | 85,495 | 0.000% | $172.4M | $1.02B | 50x | as long as short |
| Lighter RH BTC | +0.0096% | 1h | 85,494.8 | −0.001% | $23.9M | $149.3M | 50x | as long as short |
| Popdex BTCUSDT | +0.0096% | 1h | 85,487 | −0.010% | $8.6M | $53.2M | 100x | as long as short |
| Aevo BTC-PERP | +0.0096% | 1h | 85,445.6 | −0.058% | $2.4M | $1.7M | 20x | as long as short |
| MEXC BTC_USDT | +0.0099% | 8h | 85,483.9 | −0.013% | $5.07B | $5.65B | 500x | as long as short |
| Binance BTCUSDT | +0.0099% | 8h | 85,483.9 | −0.013% | $9.36B | $24.16B | 150x | as long as short |
| Katana Perps BTC-USD | +0.0100% | 8h | 85,457 | −0.045% | $210K | $8.1M | 50x | as long as short |
| Paradex BTC-USD-PERP | +0.0100% | 8h | 85,532 | +0.043% | $5.1M | $9.1M | 50x | as long as short |
| Hyperliquid BTC | +0.0100% | 1h | 85,557 | +0.072% | $3.75B | $4.99B | 40x | as long as short |
| Pacifica BTC | +0.0100% | 1h | 85,511.5 | +0.019% | $40.1M | $579.3M | 50x | as long as short |
| Bybit BTCUSDT | +0.0100% | 8h | 85,485.6 | −0.011% | $5.20B | $9.80B | 150x | as long as short |
| OKX BTC-USDT-SWAPlong | +0.0100% | 8h | 85,495.3 | long leg | $2.58B | $12.14B | 100x | |
| Ondo Perps BTC-USD.P | +0.0100% | 1h | 85,477 | −0.021% | $3.9M | $18.3M | 25x | as long as short |
| Bulk BTC-USD | +0.0100% | 1h | 85,445.9 | −0.058% | $666.8M | $675.6M | 40x | as long as short |
| Gate BTC_USDT | +0.0100% | 8h | 85,489.2 | −0.007% | $5.51B | $10.75B | 200x | as long as short |
| Backpack BTC_USDC_PERP | +0.0100% | 1h | 85,438.9 | −0.066% | $35.6M | $176.7M | 75x | as long as short |
| Variational Omni BTC | +0.0100% | 8h | 85,420.9 | −0.087% | $153.3M | $564.9M | — | as long as short |
| edgeX BTCUSDC | +0.0100% | 4h | 85,431 | −0.075% | $279.1M | $923.0M | 100x | as long as short |
| GRVT BTC_USDT_Perp | +0.0100% | 8h | 85,459.5 | −0.042% | $214.5M | $168.8M | 50x | as long as short |
| ApeX Omni BTCUSDT | +0.0100% | 1h | 85,462.5 | −0.038% | $139.7M | $314.7M | 100x | as long as short |
| StandX BTC-USD | +0.0100% | 1h | 85,439 | −0.066% | $30.2M | $208.3M | 40x | as long as short |
| Vest BTC-PERP | +0.0100% | 1h | 85,500.4 | +0.006% | — | $11.8M | 50x | as long as short |
| Polymarket Perps BTC-USD | +0.0100% | 1h | 85,439 | −0.066% | $11.1M | $14.3M | 50x | as long as short |
| Bullet BTC-USD | +0.0100% | 1h | 85,436.6 | −0.069% | $189K | $3.3M | 20x | as long as short |
| Orderly PERP_BTC_USDC | +0.0100% | 8h | 85,443.4 | −0.061% | $2.4M | $8.9M | 100x | as long as short |
| Bluefin BTC-PERP | +0.0100% | 1h | 85,485.7 | −0.011% | $207K | $738K | 40x | as long as short |
| Derive BTC-PERP | +0.0100% | 1h | 85,436.2 | −0.069% | $29.9M | $50.2M | 15x | as long as short |
| SunX BTC-USDT | +0.0100% | 8h | 85,427.7 | −0.079% | $2.9M | $6.1M | 100x | as long as short |
| SoDEX BTC-USD | +0.0100% | 1h | 85,455 | −0.047% | $59.9M | $336.1M | 40x | as long as short |
| HTX BTC-USDT | +0.0100% | 8h | 85,439.4 | −0.065% | $2.26B | $942.8M | 200x | as long as short |
| Extended BTC-USD | +0.0104% | 1h | 85,462 | −0.039% | $44.6M | $231.0M | 50x | as long as short |
| Jupiter Perps WBTC-PERP | L +0.0104% / S +0.0048% | 1h | 85,449.2 | −0.054% | — | $107.5M | 500x | as long as short |
| Coinbase International BTC-PERP-INTX | +0.0104% | 1h | 85,490 | −0.006% | $117.1M | $5.19B | 50x | as long as short |
| Deribit BTC-PERPETUAL | +0.0129% | 1h | 85,495.3 | 0.000% | $891.4M | $1.58B | 50x | as long as short |
| Injective BTC/USDC PERP | +0.0150% | 1h | 85,444 | −0.060% | $339K | $26.9M | 52x | as long as short |
| Kraken Futures PF_XBTUSD | +0.0170% | 1h | 85,475.4 | −0.023% | $187.3M | $955.1M | 100x | as long as short |
| GMX BTC/USD [WBTC.b-USDC] | L +0.0176% / S −0.0152% | 1h | 85,444 | −0.060% | $13.3M | — | 200x | as long as short |
| RISEx BTC/USDC | +0.0194% | 1h | 85,509.9 | +0.017% | $8.2M | $42.5M | 25x | as long as short |
| Kalshi KXBTCPERP | +0.0219% | 8h | 85,472 | −0.027% | $10.3M | $756.2M | 6.4x | as long as short |
| Aftermath Perps BTCUSD | +0.0222% | 1h | 85,470.7 | −0.029% | $78K | $219K | 20x | as long as short |
| Hibachi BTC/USDT-P | +0.0232% | 1h | 85,501.7 | +0.007% | $703K | $7.9M | 30x | as long as short |
| Perpl BTC | +0.0447% | 43m | 85,466.4 | −0.034% | $495K | $18.8M | 6.7x | as long as short |
BingX BTC-USDT
Phemex BTCUSDT
Bitget BTCUSDT
Reya BTCRUSDPERP
Lighter BTC
Lighter RH BTC
Popdex BTCUSDT
Aevo BTC-PERP
MEXC BTC_USDT
Binance BTCUSDT
Katana Perps BTC-USD
Paradex BTC-USD-PERP
Hyperliquid BTC
Pacifica BTC
Bybit BTCUSDT
Ondo Perps BTC-USD.P
Bulk BTC-USD
Gate BTC_USDT
Backpack BTC_USDC_PERP
Variational Omni BTC
edgeX BTCUSDC
GRVT BTC_USDT_Perp
ApeX Omni BTCUSDT
StandX BTC-USD
Vest BTC-PERP
Polymarket Perps BTC-USD
Bullet BTC-USD
Orderly PERP_BTC_USDC
Bluefin BTC-PERP
Derive BTC-PERP
SunX BTC-USDT
SoDEX BTC-USD
HTX BTC-USDT
Extended BTC-USD
Jupiter Perps WBTC-PERP
Coinbase International BTC-PERP-INTX
Deribit BTC-PERPETUAL
Injective BTC/USDC PERP
Kraken Futures PF_XBTUSD
GMX BTC/USD [WBTC.b-USDC]
RISEx BTC/USDC
Kalshi KXBTCPERP
Aftermath Perps BTCUSD
Hibachi BTC/USDT-P
Perpl BTC