BTC

Alert

Funding spread now, next payment 13:00 UTC+0.0020%/8h

next payment, per $10,000+$0.03paid, last 24h0.000%paid, last 7 days−0.059%to open and closeno order book

Long on Ondo Perps Short on Coinbase International

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Ondo Perps BTC-USD.P	84,998	0.0100	pay 0.0013% / 1h	34m 34s	$3.9M	$14.8M	25x
Short	Coinbase International BTC-PERP-INTX	85,090	0.0120	get 0.0015% / 1h	34m 34s	$139.7M	$5.85B	50x

Funding history

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Funding on every exchange

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Profit calculator

Position, each leg$Hold fordaysFee Ondo PerpsbpFee Coinbase InternationalbpOrdersRate

Funding earned: $4.2
Slippage, 4 orders: no order book: not counted
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$10.8
Break-even: 25.0 days

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

Price risk

price view

Price gap now: +0.108%
Avg gap 7d: +0.034%

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 Ondo Perps no order-book sample	—	—	—	—	—
Sell Coinbase International live order book, 1 min ago	0.01 bp	5.0 bp −$5	5.0 bp −$50	5.4 bp −$544	11.9 bp −$5,938

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	−0.0447%	43m	$413K	$31.9M	6.7x	as long as short
ApeX Omni BTCUSDT	−0.0191%	1h	$137.2M	$313.8M	100x	as long as short
edgeX BTCUSDC	−0.0103%	4h	$283.3M	$734.1M	100x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	$9K	$2K	50x	as long as short
Gate BTC_USDT	−0.0058%	8h	$6.01B	$7.79B	200x	as long as short
Reya BTCRUSDPERP	−0.0048%	1h	$6.7M	$128.6M	40x	as long as short
Injective BTC/USDC PERP	−0.0036%	1h	$322K	$27.0M	52x	as long as short
01 Exchange BTCUSD	−0.0032%	1h	$314K	$2.1M	50x	as long as short
Bitget BTCUSDT	−0.0015%	8h	$2.92B	$3.96B	150x	as long as short
BingX BTC-USDT	−0.0014%	8h	—	$1.17B	—	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	OI	Vol 24h	Max lev
HTX BTC-USDT	−0.0005%	8h	$2.28B	$725.3M	200x	as long as short
SoDEX BTC-USD	−0.0002%	1h	$61.0M	$233.3M	40x	as long as short
dYdX BTC-USD	0.0000%	1h	$16.4M	$13.0M	50x	as long as short
Kalshi KXBTCPERP	0.0000%	8h	$8.8M	$447.3M	6.4x	as long as short
Aftermath Perps BTCUSD	+0.0003%	1h	$83K	$137K	20x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0004% / S −0.0004%	1h	$36.4M	—	200x	as long as short
Backpack BTC_USDC_PERP	+0.0034%	1h	$39.8M	$102.4M	75x	as long as short
Phemex BTCUSDT	+0.0043%	8h	$163.6M	$352.5M	150x	as long as short
Popdex BTCUSDT	+0.0048%	1h	$8.4M	$36.5M	100x	as long as short
Aster BTCUSDT	+0.0052%	8h	$489.3M	$866.8M	200x	as long as short
OKX BTC-USDT-SWAP	+0.0072%	8h	$2.55B	$9.86B	100x	as long as short
Nado BTC-PERP	+0.0074%	1h	$23.0M	$203.7M	50x	as long as short
Bullet BTC-USD	+0.0078%	1h	$228K	$3.3M	20x	as long as short
KuCoin XBTUSDTM	+0.0079%	8h	$802.2M	$544.4M	125x	as long as short
RISEx BTC/USDC	+0.0090%	1h	$8.0M	$35.0M	25x	as long as short
Lighter BTC	+0.0096%	1h	$188.1M	$771.7M	50x	as long as short
Lighter RH BTC	+0.0096%	1h	$25.0M	$121.4M	50x	as long as short
Aevo BTC-PERP	+0.0096%	1h	$2.4M	$1.7M	20x	as long as short
Paradex BTC-USD-PERP	+0.0097%	8h	$4.3M	$6.5M	50x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	$232K	$4.5M	50x	as long as short
Pacifica BTC	+0.0100%	1h	$36.4M	$289.3M	50x	as long as short
Binance BTCUSDT	+0.0100%	8h	$9.49B	$17.79B	150x	as long as short
Bybit BTCUSDT	+0.0100%	8h	$5.04B	$7.13B	150x	as long as short
Ondo Perps BTC-USD.Plong	+0.0100%	1h	$3.9M	$14.8M	25x
Arcus BTC-USD	+0.0100%	1h	$6.4M	$72.2M	40x	as long as short
MEXC BTC_USDT	+0.0100%	8h	$5.05B	$4.30B	500x	as long as short
Variational Omni BTC	+0.0100%	8h	$171.5M	$441.5M	—	as long as short
StandX BTC-USD	+0.0100%	1h	$30.4M	$249.1M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	—	$12.3M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	$10.7M	$9.7M	50x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	$2.2M	$6.3M	100x	as long as short
Bluefin BTC-PERP	+0.0100%	1h	$142K	$355K	40x	as long as short
Derive BTC-PERP	+0.0100%	1h	$26.1M	$49.8M	15x	as long as short
SunX BTC-USDT	+0.0100%	8h	$3.3M	$5.0M	100x	as long as short
Bulk BTC-USD	+0.0100%	1h	$531.7M	$81.4M	40x	as long as short
Extended BTC-USD	+0.0104%	1h	$47.0M	$172.6M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0048%	1h	—	$78.9M	500x	as long as short
Coinbase International BTC-PERP-INTXshort	+0.0120%	1h	$139.7M	$5.85B	50x
Kraken Futures PF_XBTUSD	+0.0124%	1h	$185.6M	$690.8M	100x	as long as short
Phoenix BTC	+0.0126%	1h	$1.5M	$10.3M	40x	as long as short
Hyperliquid BTC	+0.0164%	1h	$3.84B	$3.77B	40x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0190% / S −0.0195%	1h	$12.9M	—	200x	as long as short
BloFin BTC-USDT	+0.0220%	8h	$418.6M	$401.7M	150x	as long as short
Hibachi BTC/USDT-P	+0.0232%	1h	$604K	$7.5M	30x	as long as short
Deribit BTC-PERPETUAL	+0.0398%	1h	$829.6M	$850.0M	50x	as long as short