BTC

Alert

Funding spread now, next payment 15:00 UTC0.0000%/8h

next payment, per $10,000+$0.00paid, last 24h+0.007%paid, last 7 days−0.076%to open and closeno order book

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Pacifica BTC	86,054	0.0100	pay 0.0013% / 1h	4m 02s	$36.5M	$331.3M	50x
Short	Derive BTC-PERP	85,989.3	0.0100	get 0.0013% / 1h	4m 02s	$29.8M	$57.4M	15x

Funding history

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Funding on every exchange

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Profit calculator

Position, each leg$Hold fordaysFee PacificabpFee DerivebpOrdersRate

Funding earned: $0
Slippage, 4 orders: no order book: not counted
Fee Pacifica: 4 bp × 2 orders: −$8
Fee Derive: 3 bp × 2 orders: −$6
Net: −$14
Break-even: never at this rate

Slippage unknown: Pacifica: live order book, 2 min ago; Derive: no order-book sample. Net counts fees only.

Price risk

price view

Price gap now: −0.075%
Avg gap 7d: −0.037%

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 Pacifica live order book, 2 min ago	0.06 bp	4.1 bp −$4	4.3 bp −$43	doesn't fit	doesn't fit
Sell Derive no order-book sample	—	—	—	—	—

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
Perpl BTC	−0.0223%	43m	$434K	$30.5M	6.7x	as long as short
edgeX BTCUSDC	−0.0117%	4h	$282.4M	$832.6M	100x	as long as short
01 Exchange BTCUSD	−0.0112%	1h	$280K	$2.3M	50x	as long as short
Aftermath Perps BTCUSD	−0.0084%	1h	$87K	$148K	20x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	$9K	$3K	50x	as long as short
Reya BTCRUSDPERP	−0.0027%	1h	$6.7M	$137.4M	40x	as long as short
Phemex BTCUSDT	−0.0023%	8h	$157.6M	$388.2M	150x	as long as short
BingX BTC-USDT	−0.0010%	8h	—	$1.36B	—	as long as short
Gate BTC_USDT	−0.0009%	8h	$6.12B	$9.10B	200x	as long as short
Bitget BTCUSDT	−0.0009%	8h	$2.96B	$4.52B	150x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	OI	Vol 24h	Max lev
dYdX BTC-USD	−0.0008%	1h	$16.8M	$16.3M	50x	as long as short
Bluefin BTC-PERP	−0.0008%	1h	$144K	$403K	40x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0005% / S −0.0004%	1h	$36.8M	—	200x	as long as short
SoDEX BTC-USD	+0.0008%	1h	$61.3M	$259.1M	40x	as long as short
ApeX Omni BTCUSDT	+0.0012%	1h	$139.0M	$317.5M	100x	as long as short
Phoenix BTC	+0.0015%	1h	$1.6M	$10.8M	40x	as long as short
OKX BTC-USDT-SWAP	+0.0037%	8h	$2.61B	$11.25B	100x	as long as short
Kraken Futures PF_XBTUSD	+0.0042%	1h	$185.0M	$791.7M	100x	as long as short
Aster BTCUSDT	+0.0045%	8h	$489.2M	$1.09B	200x	as long as short
HTX BTC-USDT	+0.0049%	8h	$2.30B	$809.0M	200x	as long as short
KuCoin XBTUSDTM	+0.0053%	8h	$789.7M	$605.6M	125x	as long as short
Hibachi BTC/USDT-P	+0.0064%	1h	$626K	$7.2M	30x	as long as short
Bullet BTC-USD	+0.0077%	1h	$245K	$3.3M	20x	as long as short
Paradex BTC-USD-PERP	+0.0079%	8h	$4.4M	$6.5M	50x	as long as short
Popdex BTCUSDT	+0.0080%	1h	$8.6M	$43.3M	100x	as long as short
Aevo BTC-PERP	+0.0080%	1h	$2.4M	$1.6M	20x	as long as short
MEXC BTC_USDT	+0.0082%	8h	$5.02B	$4.95B	500x	as long as short
Binance BTCUSDT	+0.0082%	8h	$9.58B	$20.77B	150x	as long as short
Nado BTC-PERP	+0.0091%	1h	$23.6M	$229.9M	50x	as long as short
Lighter BTC	+0.0096%	1h	$180.0M	$903.2M	50x	as long as short
Lighter RH BTC	+0.0096%	1h	$25.2M	$138.4M	50x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	$183K	$5.2M	50x	as long as short
Pacifica BTClong	+0.0100%	1h	$36.5M	$331.3M	50x
Bybit BTCUSDT	+0.0100%	8h	$5.15B	$8.24B	150x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	$3.9M	$15.9M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	$5.3M	$81.3M	40x	as long as short
Bulk BTC-USD	+0.0100%	1h	$540.9M	$69.9M	40x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	$40.5M	$101.9M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	$172.9M	$488.6M	—	as long as short
StandX BTC-USD	+0.0100%	1h	$30.8M	$241.3M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	—	$13.3M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	$10.9M	$11.2M	50x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	$2.4M	$7.1M	100x	as long as short
Derive BTC-PERPshort	+0.0100%	1h	$29.8M	$57.4M	15x
SunX BTC-USDT	+0.0100%	8h	$3.3M	$5.6M	100x	as long as short
Kalshi KXBTCPERP	+0.0101%	8h	$9.5M	$539.1M	6.4x	as long as short
Extended BTC-USD	+0.0104%	1h	$48.3M	$206.4M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0048%	1h	—	$89.0M	500x	as long as short
Coinbase International BTC-PERP-INTX	+0.0112%	1h	$149.1M	$6.27B	50x	as long as short
Hyperliquid BTC	+0.0159%	1h	$3.89B	$4.24B	40x	as long as short
RISEx BTC/USDC	+0.0178%	1h	$8.8M	$38.3M	25x	as long as short
Injective BTC/USDC PERP	+0.0180%	1h	$304K	$27.0M	52x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0198% / S −0.0177%	1h	$12.5M	—	200x	as long as short
BloFin BTC-USDT	+0.0203%	8h	$426.3M	$508.5M	150x	as long as short
Deribit BTC-PERPETUAL	+0.0351%	1h	$870.4M	$1.00B	50x	as long as short