BTC

Alert

Funding spread now, next payment 18:00 UTC0.0000%/8h

paid, last 24h+0.007%paid, last 7 days−0.096%to open and closeno order book

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Orderly PERP_BTC_USDC	85,853.9	0.0100	pay 0.0100% / 8h	6h 22m	$2.4M	$7.4M	100x
Short	Derive BTC-PERP	85,847.5	0.0100	get 0.0013% / 1h	22m 59s	$30.4M	$59.4M	15x

Funding history

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Funding on every exchange

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Profit calculator

Position, each leg$Hold fordaysFee OrderlybpFee DerivebpOrdersRate

Funding earned: $0
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee Derive: 3 bp × 2 orders: −$6
Net: −$12
Break-even: never at this rate

Slippage unknown: Orderly: no order-book sample; Derive: no order-book sample. Net counts fees only.

Price risk

price view

Price gap now: −0.008%
Avg gap 7d: 0.000%

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 Derive no order-book sample	—	—	—	—	—

Orderly and Derive: 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	−0.1630%	1h	$143K	$411K	40x	as long as short
Arcus BTC-USD	−0.0377%	1h	$6.9M	$85.3M	40x	as long as short
Perpl BTC	−0.0223%	43m	$392K	$26.6M	6.7x	as long as short
Phoenix BTC	−0.0096%	1h	$1.9M	$11.0M	40x	as long as short
BloFin BTC-USDT	−0.0095%	8h	$423.8M	$567.2M	150x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	$9K	$4K	50x	as long as short
Kraken Futures PF_XBTUSD	−0.0073%	1h	$190.2M	$813.6M	100x	as long as short
ApeX Omni BTCUSDT	−0.0059%	1h	$139.1M	$319.3M	100x	as long as short
01 Exchange BTCUSD	−0.0056%	1h	$309K	$2.4M	50x	as long as short
dYdX BTC-USD	−0.0024%	1h	$17.1M	$18.1M	50x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	OI	Vol 24h	Max lev
Injective BTC/USDC PERP	−0.0019%	1h	$308K	$27.0M	52x	as long as short
Reya BTCRUSDPERP	−0.0018%	1h	$6.7M	$138.1M	40x	as long as short
Bulk BTC-USD	−0.0015%	1h	$560.8M	$139.1M	40x	as long as short
SoDEX BTC-USD	−0.0015%	1h	$60.8M	$284.3M	40x	as long as short
BingX BTC-USDC	−0.0005%	8h	—	$14.7M	—	as long as short
Bitget BTCUSDT	−0.0004%	8h	$2.96B	$4.68B	150x	as long as short
KuCoin XBTUSDTM	0.0000%	8h	$796.3M	$615.1M	125x	as long as short
Phemex BTCUSDT	+0.0003%	8h	$148.1M	$417.0M	150x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0005% / S −0.0004%	1h	$36.7M	—	200x	as long as short
Aster BTCUSDT	+0.0013%	8h	$504.4M	$1.10B	200x	as long as short
OKX BTC-USDT-SWAP	+0.0015%	8h	$2.66B	$11.54B	100x	as long as short
Gate BTC_USDT	+0.0017%	8h	$6.07B	$9.57B	200x	as long as short
Bybit BTCUSDT	+0.0022%	8h	$5.25B	$8.59B	150x	as long as short
Extended BTC-USD	+0.0024%	1h	$48.7M	$199.7M	50x	as long as short
Aevo BTC-PERP	+0.0024%	1h	$2.4M	$1.3M	20x	as long as short
Binance BTCUSDT	+0.0025%	8h	$9.47B	$22.08B	150x	as long as short
MEXC BTC_USDT	+0.0025%	8h	$5.17B	$5.14B	500x	as long as short
RISEx BTC/USDC	+0.0040%	1h	$9.1M	$38.6M	25x	as long as short
Popdex BTCUSDT	+0.0048%	1h	$8.5M	$46.5M	100x	as long as short
Variational Omni BTC	+0.0064%	8h	$171.6M	$504.9M	—	as long as short
Aftermath Perps BTCUSD	+0.0068%	1h	$86K	$154K	20x	as long as short
StandX BTC-USD	+0.0072%	1h	$30.7M	$223.4M	40x	as long as short
Lighter BTC	+0.0096%	1h	$171.5M	$943.5M	50x	as long as short
Lighter RH BTC	+0.0096%	1h	$24.6M	$137.3M	50x	as long as short
Paradex BTC-USD-PERP	+0.0096%	8h	$4.4M	$6.8M	50x	as long as short
Bullet BTC-USD	+0.0097%	1h	$229K	$3.3M	20x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	$194K	$5.7M	50x	as long as short
Nado BTC-PERP	+0.0100%	1h	$23.5M	$227.2M	50x	as long as short
Pacifica BTC	+0.0100%	1h	$36.5M	$397.9M	50x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	$4.0M	$16.8M	25x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	$37.1M	$127.3M	75x	as long as short
edgeX BTCUSDC	+0.0100%	4h	$280.2M	$879.5M	100x	as long as short
Vest BTC-PERP	+0.0100%	1h	—	$11.5M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	$11.0M	$11.7M	50x	as long as short
Orderly PERP_BTC_USDClong	+0.0100%	8h	$2.4M	$7.4M	100x
Derive BTC-PERPshort	+0.0100%	1h	$30.4M	$59.4M	15x
SunX BTC-USDT	+0.0100%	8h	$3.3M	$5.8M	100x	as long as short
HTX BTC-USDT	+0.0100%	8h	$2.28B	$835.1M	200x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0048%	1h	—	$84.9M	500x	as long as short
Kalshi KXBTCPERP	+0.0106%	8h	$13.2M	$636.8M	6.4x	as long as short
Hibachi BTC/USDT-P	+0.0120%	1h	$758K	$7.1M	30x	as long as short
Hyperliquid BTC	+0.0146%	1h	$3.92B	$4.40B	40x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0172% / S −0.0153%	1h	$12.7M	—	200x	as long as short
Coinbase International BTC-PERP-INTX	+0.0184%	1h	$129.0M	$5.89B	50x	as long as short
Deribit BTC-PERPETUAL	+0.0214%	1h	$915.1M	$1.10B	50x	as long as short