Funding you earn now, next payment 03:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%
Price spread now: Polymarket Perps against Orderly−0.012%7-day average +0.003% · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 7 days0.000%$0 on $10k
+Price spread, last 4 days (all we have)+0.106%+$11 · spread now −0.012%, 7d avg +0.003%
=| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Orderly PERP_BTC_USDC | 85,733.9 | 0.0100 | pay 0.0100% / 8h | 5h 07m | $2.4M | $8.8M | 100x |
| Short | Polymarket Perps BTC-USD | 85,724 | 0.0100 | get 0.0013% / 1h | 7m 47s | $11.1M | $14.2M | 50x |
Orderly PERP_BTC_USDC
Polymarket Perps BTC-USDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Polymarket Perps against Orderly. 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: −0.012% → +0.003%
- −$1.42
- Slippage, 4 orders
- no order book: not counted
- Fee Orderly: 3 bp × 2 orders
- −$6
- Fee Polymarket Perps: 4 bp × 2 orders
- −$8
- Net
- −$15.42
- Costs to cover
- 0.140%
- Break-even
- never at this rate
Slippage unknown: Orderly: no order-book sample; Polymarket Perps: live order book, 1 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 Orderly no order-book sample | — | — | — | — | — |
| Sell Polymarket Perps live order book, 1 min ago | 0.06 bp | 4.1 bp −$4 | 4.5 bp −$45 | 6.6 bp −$660 | doesn't fit |
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 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 | −0.0535% | 1h | 85,773.6 | +0.046% | $197K | $722K | 40x | as long as short |
| Phoenix BTC | −0.0160% | 1h | 85,805 | +0.083% | $2.2M | $10.3M | 40x | as long as short |
| Hotstuff BTC-PERP | −0.0080% | 1h | 85,730 | −0.005% | $8K | $3K | 50x | as long as short |
| 01 Exchange BTCUSD | −0.0040% | 1h | 85,731.1 | −0.003% | $369K | $2.3M | 50x | as long as short |
| BloFin BTC-USDT | −0.0032% | 8h | 85,764.5 | +0.036% | $415.9M | $666.1M | 150x | as long as short |
| dYdX BTC-USD | 0.0000% | 1h | 85,713.3 | −0.024% | $16.7M | $21.2M | 50x | as long as short |
| KuCoin XBTUSDTM | +0.0004% | 8h | 85,660.9 | −0.085% | $919.2M | $751.5M | 125x | as long as short |
| gTrade (Gains Network) BTC/USD | L +0.0004% / S −0.0004% | 1h | 85,755.1 | +0.025% | $36.6M | — | 200x | as long as short |
| Nado BTC-PERP | +0.0015% | 1h | 85,728.9 | −0.006% | $22.6M | $219.5M | 50x | as long as short |
| Aster BTCUSDT | +0.0018% | 8h | 85,684.7 | −0.057% | $516.3M | $1.10B | 200x | as long as short |
Bluefin BTC-PERP
Phoenix BTC
Hotstuff BTC-PERP
01 Exchange BTCUSD
BloFin BTC-USDT
dYdX BTC-USD
KuCoin XBTUSDTM
gTrade (Gains Network) BTC/USD
Nado BTC-PERP
Aster BTCUSDTShow all 56 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| BingX BTC-USDC | +0.0057% | 8h | 85,669.6 | −0.075% | — | $17.0M | — | as long as short |
| Bitget BTCUSDT | +0.0072% | 8h | 85,680.7 | −0.062% | $2.96B | $5.01B | 150x | as long as short |
| Reya BTCRUSDPERP | +0.0073% | 1h | 85,716.3 | −0.021% | $6.7M | $146.5M | 40x | as long as short |
| Injective BTC/USDC PERP | +0.0079% | 1h | 85,807 | +0.085% | $341K | $26.9M | 52x | as long as short |
| Aevo BTC-PERP | +0.0080% | 1h | 85,727.3 | −0.008% | $2.5M | $1.7M | 20x | as long as short |
| MEXC BTC_USDT | +0.0087% | 8h | 85,679.7 | −0.063% | $5.07B | $5.65B | 500x | as long as short |
| Binance BTCUSDT | +0.0088% | 8h | 85,684.6 | −0.057% | $9.35B | $23.92B | 150x | as long as short |
| Phemex BTCUSDT | +0.0090% | 8h | 85,729.2 | −0.005% | $149.2M | $480.4M | 150x | as long as short |
| HTX BTC-USDT | +0.0092% | 8h | 85,730.4 | −0.004% | $2.27B | $936.9M | 200x | as long as short |
| SoDEX BTC-USD | +0.0094% | 1h | 85,727 | −0.008% | $60.0M | $336.2M | 40x | as long as short |
| Lighter BTC | +0.0096% | 1h | 85,699.8 | −0.040% | $174.6M | $1.01B | 50x | as long as short |
| Lighter RH BTC | +0.0096% | 1h | 85,694.5 | −0.046% | $23.9M | $149.6M | 50x | as long as short |
| Popdex BTCUSDT | +0.0096% | 1h | 85,729 | −0.006% | $8.4M | $52.3M | 100x | as long as short |
| Paradex BTC-USD-PERP | +0.0100% | 8h | 85,736.6 | +0.003% | $3.8M | $8.3M | 50x | as long as short |
| Katana Perps BTC-USD | +0.0100% | 8h | 85,699 | −0.041% | $197K | $7.8M | 50x | as long as short |
| Hyperliquid BTC | +0.0100% | 1h | 85,757 | +0.027% | $3.75B | $4.96B | 40x | as long as short |
| Pacifica BTC | +0.0100% | 1h | 85,716.1 | −0.021% | $40.1M | $576.5M | 50x | as long as short |
| Bybit BTCUSDT | +0.0100% | 8h | 85,685.5 | −0.056% | $5.33B | $9.57B | 150x | as long as short |
| OKX BTC-USDT-SWAP | +0.0100% | 8h | 85,689.7 | −0.052% | $2.58B | $12.11B | 100x | as long as short |
| Ondo Perps BTC-USD.P | +0.0100% | 1h | 85,671 | −0.073% | $3.9M | $18.0M | 25x | as long as short |
| Arcus BTC-USD | +0.0100% | 1h | 85,671.3 | −0.073% | $6.8M | $97.6M | 40x | as long as short |
| Bulk BTC-USD | +0.0100% | 1h | 85,800.8 | +0.078% | $635.6M | $478.1M | 40x | as long as short |
| Gate BTC_USDT | +0.0100% | 8h | 85,701.3 | −0.038% | $5.55B | $10.57B | 200x | as long as short |
| Backpack BTC_USDC_PERP | +0.0100% | 1h | 85,706.4 | −0.032% | $35.2M | $173.5M | 75x | as long as short |
| Variational Omni BTC | +0.0100% | 8h | 85,777.2 | +0.051% | $157.4M | $555.4M | — | as long as short |
| edgeX BTCUSDC | +0.0100% | 4h | 85,754.5 | +0.024% | $280.1M | $916.5M | 100x | as long as short |
| GRVT BTC_USDT_Perp | +0.0100% | 8h | 85,809.7 | +0.088% | $215.5M | $165.9M | 50x | as long as short |
| ApeX Omni BTCUSDT | +0.0100% | 1h | 85,774.1 | +0.047% | $140.3M | $314.6M | 100x | as long as short |
| StandX BTC-USD | +0.0100% | 1h | 85,831.8 | +0.114% | $30.3M | $208.9M | 40x | as long as short |
| Vest BTC-PERP | +0.0100% | 1h | 85,781.6 | +0.056% | — | $11.8M | 50x | as long as short |
| Polymarket Perps BTC-USDshort | +0.0100% | 1h | 85,724 | −0.012% | $11.1M | $14.2M | 50x | |
| Bullet BTC-USD | +0.0100% | 1h | 85,730.5 | −0.004% | $192K | $3.3M | 20x | as long as short |
| Orderly PERP_BTC_USDClong | +0.0100% | 8h | 85,733.9 | long leg | $2.4M | $8.8M | 100x | |
| Derive BTC-PERP | +0.0100% | 1h | 85,729.6 | −0.005% | $30.0M | $51.0M | 15x | as long as short |
| SunX BTC-USDT | +0.0100% | 8h | 85,702.6 | −0.037% | $2.9M | $6.1M | 100x | as long as short |
| Extended BTC-USD | +0.0104% | 1h | 85,681.2 | −0.061% | $44.3M | $226.8M | 50x | as long as short |
| Jupiter Perps WBTC-PERP | L +0.0104% / S +0.0056% | 1h | 85,732.7 | −0.001% | — | $106.0M | 500x | as long as short |
| Coinbase International BTC-PERP-INTX | +0.0112% | 1h | 85,768 | +0.040% | $123.8M | $5.11B | 50x | as long as short |
| RISEx BTC/USDC | +0.0120% | 1h | 85,725 | −0.010% | $8.4M | $42.3M | 25x | as long as short |
| Deribit BTC-PERPETUAL | +0.0135% | 1h | 85,777.2 | +0.051% | $891.5M | $1.53B | 50x | as long as short |
| Kraken Futures PF_XBTUSD | +0.0138% | 1h | 85,760 | +0.030% | $189.3M | $953.0M | 100x | as long as short |
| Hibachi BTC/USDT-P | +0.0192% | 1h | 85,853.1 | +0.139% | $704K | $7.8M | 30x | as long as short |
| GMX BTC/USD [WBTC.b-USDC] | L +0.0202% / S −0.0178% | 1h | 85,739.6 | +0.007% | $13.6M | — | 200x | as long as short |
| Aftermath Perps BTCUSD | +0.0205% | 1h | 85,785.6 | +0.060% | $78K | $219K | 20x | as long as short |
| Kalshi KXBTCPERP | +0.0220% | 8h | 85,764 | +0.035% | $10.6M | $758.6M | 6.4x | as long as short |
| Perpl BTC | +0.0447% | 43m | 85,722.4 | −0.013% | $501K | $19.2M | 6.7x | as long as short |
BingX BTC-USDC
Bitget BTCUSDT
Reya BTCRUSDPERP
Injective BTC/USDC PERP
Aevo BTC-PERP
MEXC BTC_USDT
Binance BTCUSDT
Phemex BTCUSDT
HTX BTC-USDT
SoDEX BTC-USD
Lighter BTC
Lighter RH BTC
Popdex BTCUSDT
Paradex BTC-USD-PERP
Katana Perps BTC-USD
Hyperliquid BTC
Pacifica BTC
Bybit BTCUSDT
OKX BTC-USDT-SWAP
Ondo Perps BTC-USD.P
Arcus BTC-USD
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
Bullet BTC-USD
Derive BTC-PERP
SunX BTC-USDT
Extended BTC-USD
Jupiter Perps WBTC-PERP
Coinbase International BTC-PERP-INTX
RISEx BTC/USDC
Deribit BTC-PERPETUAL
Kraken Futures PF_XBTUSD
Hibachi BTC/USDT-P
GMX BTC/USD [WBTC.b-USDC]
Aftermath Perps BTCUSD
Kalshi KXBTCPERP
Perpl BTC