BTC

Alert

Funding spread now, next payment 16:00 UTC+0.0012%/8h

paid, last 24h+0.002%paid, last 7 days−0.063%to open and closeno order book

Long on Orderly Short on Coinbase International

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Orderly PERP_BTC_USDC	86,044.8	0.0100	pay 0.0100% / 8h	7h 03m	$2.3M	$7.3M	100x
Short	Coinbase International BTC-PERP-INTX	86,126.1	0.0112	get 0.0014% / 1h	3m 07s	$128.6M	$6.03B	50x

Funding history

latest

Range statsloading…

Funding on every exchange

click an exchange to add or hide it

latest

Profit calculator

Position, each leg$Hold fordaysFee OrderlybpFee Coinbase InternationalbpOrdersRate

Funding earned: $2.52
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$13.48
Break-even: 44.4 days

Slippage unknown: Orderly: no order-book sample; Coinbase International: live order book, 3 min ago. Net counts fees only.

Price risk

price view

Price gap now: +0.094%
Avg gap 7d: +0.042%

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 Orderly no order-book sample	—	—	—	—	—
Sell Coinbase International live order book, 3 min ago	0.01 bp	5.0 bp −$5	5.0 bp −$50	5.8 bp −$580	10.8 bp −$5,407

Orderly: 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
Bluefin BTC-PERP	−0.6807%	1h	$143K	$367K	40x	as long as short
Perpl BTC	−0.0335%	43m	$406K	$27.4M	6.7x	as long as short
Injective BTC/USDC PERP	−0.0137%	1h	$309K	$27.0M	52x	as long as short
Phoenix BTC	−0.0116%	1h	$1.9M	$11.4M	40x	as long as short
Phemex BTCUSDT	−0.0103%	8h	$148.6M	$413.2M	150x	as long as short
BloFin BTC-USDT	−0.0082%	8h	$421.8M	$563.8M	150x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	$9K	$4K	50x	as long as short
01 Exchange BTCUSD	−0.0056%	1h	$294K	$2.4M	50x	as long as short
Kraken Futures PF_XBTUSD	−0.0040%	1h	$188.7M	$810.6M	100x	as long as short
SoDEX BTC-USD	−0.0024%	1h	$60.9M	$284.0M	40x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	OI	Vol 24h	Max lev
Extended BTC-USD	−0.0024%	1h	$48.8M	$202.3M	50x	as long as short
Reya BTCRUSDPERP	−0.0019%	1h	$6.8M	$138.1M	40x	as long as short
ApeX Omni BTCUSDT	−0.0016%	1h	$138.9M	$318.3M	100x	as long as short
Bulk BTC-USD	−0.0010%	1h	$560.4M	$140.4M	40x	as long as short
dYdX BTC-USD	−0.0010%	1h	$17.4M	$17.7M	50x	as long as short
Bitget BTCUSDT	−0.0003%	8h	$2.97B	$4.66B	150x	as long as short
BingX BTC-USDT	−0.0003%	8h	—	$1.37B	—	as long as short
gTrade (Gains Network) BTC/USD	L +0.0005% / S −0.0004%	1h	$36.9M	—	200x	as long as short
KuCoin XBTUSDTM	+0.0006%	8h	$795.0M	$609.5M	125x	as long as short
OKX BTC-USDT-SWAP	+0.0012%	8h	$2.66B	$11.54B	100x	as long as short
Aster BTCUSDT	+0.0027%	8h	$506.2M	$1.11B	200x	as long as short
Bybit BTCUSDT	+0.0027%	8h	$5.26B	$8.56B	150x	as long as short
MEXC BTC_USDT	+0.0037%	8h	$5.16B	$5.30B	500x	as long as short
Binance BTCUSDT	+0.0038%	8h	$9.50B	$21.89B	150x	as long as short
Aevo BTC-PERP	+0.0040%	1h	$2.4M	$1.3M	20x	as long as short
Gate BTC_USDT	+0.0060%	8h	$6.07B	$9.56B	200x	as long as short
Derive BTC-PERP	+0.0078%	1h	$30.5M	$59.8M	15x	as long as short
Variational Omni BTC	+0.0083%	8h	$172.4M	$507.5M	—	as long as short
Deribit BTC-PERPETUAL	+0.0086%	1h	$911.9M	$1.11B	50x	as long as short
Aftermath Perps BTCUSD	+0.0090%	1h	$87K	$150K	20x	as long as short
StandX BTC-USD	+0.0094%	1h	$30.6M	$228.5M	40x	as long as short
Paradex BTC-USD-PERP	+0.0094%	8h	$4.4M	$6.8M	50x	as long as short
Lighter BTC	+0.0096%	1h	$171.5M	$942.8M	50x	as long as short
Lighter RH BTC	+0.0096%	1h	$24.7M	$136.9M	50x	as long as short
Popdex BTCUSDT	+0.0096%	1h	$8.5M	$46.3M	100x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	$202K	$5.6M	50x	as long as short
Nado BTC-PERP	+0.0100%	1h	$23.4M	$227.1M	50x	as long as short
Pacifica BTC	+0.0100%	1h	$36.7M	$384.2M	50x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	$4.0M	$16.4M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	$6.6M	$84.6M	40x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	$37.4M	$122.5M	75x	as long as short
edgeX BTCUSDC	+0.0100%	4h	$278.8M	$888.8M	100x	as long as short
Vest BTC-PERP	+0.0100%	1h	—	$11.9M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	$11.0M	$11.5M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	$231K	$3.3M	20x	as long as short
Orderly PERP_BTC_USDClong	+0.0100%	8h	$2.3M	$7.3M	100x
SunX BTC-USDT	+0.0100%	8h	$3.3M	$5.9M	100x	as long as short
HTX BTC-USDT	+0.0100%	8h	$2.29B	$840.2M	200x	as long as short
Hibachi BTC/USDT-P	+0.0104%	1h	$751K	$7.4M	30x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0048%	1h	—	$85.5M	500x	as long as short
Kalshi KXBTCPERP	+0.0105%	8h	$14.4M	$614.6M	6.4x	as long as short
Coinbase International BTC-PERP-INTXshort	+0.0112%	1h	$128.6M	$6.03B	50x
RISEx BTC/USDC	+0.0132%	1h	$9.2M	$38.8M	25x	as long as short
Hyperliquid BTC	+0.0138%	1h	$3.90B	$4.37B	40x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0171% / S −0.0149%	1h	$12.5M	—	200x	as long as short