Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.003%
Price spread now: Backpack against Ondo Perps−0.049%7-day average +0.012% · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 7 days−0.178%−$18 on $10k
+Price spread, last 7 days−0.151%−$15 · spread now −0.049%, 7d avg +0.012%
=Together, before fees−0.329%+ Points / potential airdropOndo Perps: Active · farm board−$33 on $10k · with fees, hour by hour
Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Backpack is 0.061% cheaper against Ondo Perps than usual: you would sell low and buy high, −$6 on $10k if it goes back to its 7-day average of +0.012%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Ondo Perps BTC-USD.P | 85,513 | 0.0100 | pay 0.0013% / 1h | 40m 41s | $3.9M | $18.0M | 25x |
| Short | Backpack BTC_USDC_PERP | 85,471.2 | 0.0100 | get 0.0013% / 1h | 40m 41s | $35.7M | $176.2M | 75x |
Ondo Perps BTC-USD.P
Backpack BTC_USDC_PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Backpack against Ondo Perps. 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
- $0
- Price spread: −0.049% → +0.012%
- −$6.11
- Slippage, 4 orders
- no order book: not counted
- Fee Ondo Perps: 2.5 bp × 2 orders
- −$5
- Fee Backpack: 5 bp × 2 orders
- −$10
- Net
- −$21.11
- Costs to cover
- 0.150%
- Break-even
- never at this rate
Slippage unknown: Ondo Perps: no order-book sample; Backpack: live order book, 3 min ago. Net counts fees only.
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 Ondo Perps no order-book sample | — | — | — | — | — |
| Sell Backpack live order book, 3 min ago | 0.01 bp | 5.0 bp −$5 | 5.0 bp −$50 | 5.7 bp −$574 | 30.2 bp −$15.1K |
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 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 | |
|---|---|---|---|---|---|---|---|---|
| Bluefin BTC-PERP | −0.0434% | 1h | 85,519.1 | +0.007% | $207K | $738K | 40x | as long as short |
| Phoenix BTC | −0.0179% | 1h | 85,385 | −0.150% | $2.2M | $10.3M | 40x | as long as short |
| Hotstuff BTC-PERP | −0.0080% | 1h | 85,511 | −0.002% | $8K | $3K | 50x | as long as short |
| 01 Exchange BTCUSD | −0.0048% | 1h | 85,501.5 | −0.013% | $366K | $2.3M | 50x | as long as short |
| BloFin BTC-USDT | −0.0031% | 8h | 85,454.3 | −0.069% | $416.4M | $665.7M | 150x | as long as short |
| KuCoin XBTUSDTM | −0.0008% | 8h | 85,487.5 | −0.030% | $919.5M | $750.3M | 125x | as long as short |
| gTrade (Gains Network) BTC/USD | L +0.0005% / S −0.0004% | 1h | 85,481.7 | −0.037% | $36.5M | — | 200x | as long as short |
| Aster BTCUSDT | +0.0011% | 8h | 85,490 | −0.027% | $515.2M | $1.10B | 200x | as long as short |
| dYdX BTC-USD | +0.0020% | 1h | 85,483.8 | −0.034% | $16.7M | $21.2M | 50x | as long as short |
| Arcus BTC-USD | +0.0021% | 1h | 85,490.8 | −0.026% | $6.9M | $97.2M | 40x | as long as short |
Bluefin BTC-PERP
Phoenix BTC
Hotstuff BTC-PERP
01 Exchange BTCUSD
BloFin BTC-USDT
KuCoin XBTUSDTM
gTrade (Gains Network) BTC/USD
Aster BTCUSDT
dYdX BTC-USD
Arcus BTC-USDShow all 56 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Nado BTC-PERP | +0.0060% | 1h | 85,453.5 | −0.070% | $22.7M | $219.1M | 50x | as long as short |
| BingX BTC-USDC | +0.0060% | 8h | 85,482.8 | −0.035% | — | $17.1M | — | as long as short |
| Bitget BTCUSDT | +0.0076% | 8h | 85,503.3 | −0.011% | $2.96B | $5.03B | 150x | as long as short |
| Reya BTCRUSDPERP | +0.0079% | 1h | 85,447.8 | −0.076% | $6.7M | $146.7M | 40x | as long as short |
| Aevo BTC-PERP | +0.0088% | 1h | 85,463.1 | −0.058% | $2.4M | $1.7M | 20x | as long as short |
| MEXC BTC_USDT | +0.0089% | 8h | 85,511.5 | −0.002% | $5.05B | $5.59B | 500x | as long as short |
| Binance BTCUSDT | +0.0089% | 8h | 85,511.7 | −0.002% | $9.35B | $24.04B | 150x | as long as short |
| Lighter BTC | +0.0096% | 1h | 85,518.4 | +0.006% | $173.2M | $1.00B | 50x | as long as short |
| Lighter RH BTC | +0.0096% | 1h | 85,511.7 | −0.002% | $23.8M | $148.5M | 50x | as long as short |
| Popdex BTCUSDT | +0.0096% | 1h | 85,448 | −0.076% | $8.4M | $52.7M | 100x | as long as short |
| Katana Perps BTC-USD | +0.0100% | 8h | 85,482 | −0.036% | $226K | $8.0M | 50x | as long as short |
| Paradex BTC-USD-PERP | +0.0100% | 8h | 85,547.1 | +0.040% | $4.2M | $8.5M | 50x | as long as short |
| Hyperliquid BTC | +0.0100% | 1h | 85,573 | +0.070% | $3.75B | $4.98B | 40x | as long as short |
| Pacifica BTC | +0.0100% | 1h | 85,532.6 | +0.023% | $40.0M | $575.8M | 50x | as long as short |
| Bybit BTCUSDT | +0.0100% | 8h | 85,511.4 | −0.002% | $5.24B | $9.69B | 150x | as long as short |
| OKX BTC-USDT-SWAP | +0.0100% | 8h | 85,519.5 | +0.008% | $2.58B | $12.10B | 100x | as long as short |
| Ondo Perps BTC-USD.Plong | +0.0100% | 1h | 85,513 | long leg | $3.9M | $18.0M | 25x | |
| Gate BTC_USDT | +0.0100% | 8h | 85,512.3 | −0.001% | $5.54B | $10.62B | 200x | as long as short |
| Backpack BTC_USDC_PERPshort | +0.0100% | 1h | 85,471.2 | −0.049% | $35.7M | $176.2M | 75x | |
| Variational Omni BTC | +0.0100% | 8h | 85,453.7 | −0.069% | $153.6M | $563.4M | — | as long as short |
| edgeX BTCUSDC | +0.0100% | 4h | 85,527.2 | +0.017% | $279.4M | $916.4M | 100x | as long as short |
| GRVT BTC_USDT_Perp | +0.0100% | 8h | 85,511.2 | −0.002% | $214.7M | $168.5M | 50x | as long as short |
| ApeX Omni BTCUSDT | +0.0100% | 1h | 85,522.5 | +0.011% | $139.9M | $314.9M | 100x | as long as short |
| StandX BTC-USD | +0.0100% | 1h | 85,531 | +0.021% | $30.2M | $207.6M | 40x | as long as short |
| Vest BTC-PERP | +0.0100% | 1h | 85,499 | −0.016% | — | $11.8M | 50x | as long as short |
| Polymarket Perps BTC-USD | +0.0100% | 1h | 85,443 | −0.082% | $11.0M | $14.2M | 50x | as long as short |
| Bullet BTC-USD | +0.0100% | 1h | 85,471.9 | −0.048% | $193K | $3.3M | 20x | as long as short |
| Orderly PERP_BTC_USDC | +0.0100% | 8h | 85,471.8 | −0.048% | $2.3M | $8.8M | 100x | as long as short |
| Derive BTC-PERP | +0.0100% | 1h | 85,470.1 | −0.050% | $29.9M | $50.9M | 15x | as long as short |
| SunX BTC-USDT | +0.0100% | 8h | 85,450 | −0.074% | $2.9M | $6.1M | 100x | as long as short |
| SoDEX BTC-USD | +0.0100% | 1h | 85,474 | −0.046% | $59.9M | $336.1M | 40x | as long as short |
| HTX BTC-USDT | +0.0100% | 8h | 85,454.3 | −0.069% | $2.26B | $940.1M | 200x | as long as short |
| Phemex BTCUSDT | +0.0100% | 8h | 85,475.9 | −0.043% | $149.9M | $484.1M | 150x | as long as short |
| Bulk BTC-USD | +0.0100% | 1h | 85,513.6 | +0.001% | $649.6M | $594.9M | 40x | as long as short |
| Extended BTC-USD | +0.0104% | 1h | 85,477.8 | −0.041% | $44.5M | $226.5M | 50x | as long as short |
| Jupiter Perps WBTC-PERP | L +0.0104% / S +0.0056% | 1h | 85,449.9 | −0.074% | — | $106.9M | 500x | as long as short |
| Coinbase International BTC-PERP-INTX | +0.0104% | 1h | 85,513.8 | +0.001% | $117.0M | $5.16B | 50x | as long as short |
| Injective BTC/USDC PERP | +0.0150% | 1h | 85,539 | +0.030% | $340K | $26.9M | 52x | as long as short |
| Kraken Futures PF_XBTUSD | +0.0170% | 1h | 85,499.8 | −0.015% | $188.4M | $954.2M | 100x | as long as short |
| GMX BTC/USD [WBTC.b-USDC] | L +0.0176% / S −0.0150% | 1h | 85,475.2 | −0.044% | $13.4M | — | 200x | as long as short |
| RISEx BTC/USDC | +0.0194% | 1h | 85,530.2 | +0.020% | $8.3M | $42.4M | 25x | as long as short |
| Hibachi BTC/USDT-P | +0.0200% | 1h | 85,502.4 | −0.012% | $693K | $7.9M | 30x | as long as short |
| Aftermath Perps BTCUSD | +0.0203% | 1h | 85,521.2 | +0.010% | $78K | $219K | 20x | as long as short |
| Deribit BTC-PERPETUAL | +0.0210% | 1h | 85,525.4 | +0.015% | $893.9M | $1.53B | 50x | as long as short |
| Kalshi KXBTCPERP | +0.0217% | 8h | 85,474 | −0.046% | $10.4M | $758.6M | 6.4x | as long as short |
| Perpl BTC | +0.0447% | 43m | 85,452.5 | −0.071% | $497K | $18.9M | 6.7x | as long as short |
Nado BTC-PERP
BingX BTC-USDC
Bitget BTCUSDT
Reya BTCRUSDPERP
Aevo BTC-PERP
MEXC BTC_USDT
Binance BTCUSDT
Lighter BTC
Lighter RH BTC
Popdex BTCUSDT
Katana Perps BTC-USD
Paradex BTC-USD-PERP
Hyperliquid BTC
Pacifica BTC
Bybit BTCUSDT
OKX BTC-USDT-SWAP
Gate BTC_USDT
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
Derive BTC-PERP
SunX BTC-USDT
SoDEX BTC-USD
HTX BTC-USDT
Phemex BTCUSDT
Bulk BTC-USD
Extended BTC-USD
Jupiter Perps WBTC-PERP
Coinbase International BTC-PERP-INTX
Injective BTC/USDC PERP
Kraken Futures PF_XBTUSD
GMX BTC/USD [WBTC.b-USDC]
RISEx BTC/USDC
Hibachi BTC/USDT-P
Aftermath Perps BTCUSD
Deribit BTC-PERPETUAL
Kalshi KXBTCPERP
Perpl BTC