BTC

Alert

Funding spread now, next payment 17:00 UTC−0.0004%/8h

next payment, per $10,000−$0.01paid, last 24h−0.001%paid, last 7 days−0.008%to open and close $10k−$9

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Pacifica BTC	85,666	0.0100	pay 0.0013% / 1h	18m 27s	$36.6M	$378.6M	50x
Short	Lighter BTC	85,653	0.0096	get 0.0012% / 1h	18m 27s	$172.0M	$932.7M	50x

Funding history

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Funding on every exchange

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Profit calculator

Position, each leg$Hold fordaysFee PacificabpFee LighterbpOrdersRate

Funding earned: −$0.84
Slippage, 4 orders: −$0.63
Fee Pacifica: 4 bp × 2 orders: −$8
Fee Lighter: 0 bp × 2 orders: $0
Net: −$9.47
Break-even: never at this rate

Slippage from Pacifica: live order book, 2 min ago; Lighter: live order book, 7 min ago.

Price risk

price view

Price gap now: −0.015%
Avg gap 7d: −0.012%

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	4.6 bp −$46	doesn't fit	doesn't fit
Sell Lighter live order book, 7 min ago	0.01 bp	0.1 bp $0	0.1 bp −$1	1.1 bp −$109	4.1 bp −$2,068

BTC on 55 venues

lowest funding first. Swap a leg.

Exchange	Funding /8h	Every	OI	Vol 24h	Max lev
Bluefin BTC-PERP	−0.8000%	1h	$142K	$367K	40x	as long as short
Perpl BTC	−0.0335%	43m	$392K	$27.8M	6.7x	as long as short
Injective BTC/USDC PERP	−0.0137%	1h	$308K	$27.0M	52x	as long as short
Phoenix BTC	−0.0116%	1h	$1.9M	$11.4M	40x	as long as short
BloFin BTC-USDT	−0.0081%	8h	$422.0M	$561.1M	150x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	$9K	$4K	50x	as long as short
01 Exchange BTCUSD	−0.0056%	1h	$291K	$2.4M	50x	as long as short
SoDEX BTC-USD	−0.0043%	1h	$60.6M	$284.0M	40x	as long as short
ApeX Omni BTCUSDT	−0.0043%	1h	$138.3M	$317.7M	100x	as long as short
Kraken Futures PF_XBTUSD	−0.0040%	1h	$187.6M	$811.5M	100x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	OI	Vol 24h	Max lev
Reya BTCRUSDPERP	−0.0019%	1h	$6.7M	$138.0M	40x	as long as short
Bitget BTCUSDT	−0.0004%	8h	$2.97B	$4.65B	150x	as long as short
BingX BTC-USDT	−0.0004%	8h	—	$1.37B	—	as long as short
dYdX BTC-USD	0.0000%	1h	$17.1M	$17.6M	50x	as long as short
Bybit BTCUSDT	+0.0004%	8h	$5.21B	$8.54B	150x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0005% / S −0.0004%	1h	$36.7M	—	200x	as long as short
KuCoin XBTUSDTM	+0.0008%	8h	$791.4M	$610.9M	125x	as long as short
OKX BTC-USDT-SWAP	+0.0014%	8h	$2.64B	$11.50B	100x	as long as short
Bulk BTC-USD	+0.0019%	1h	$558.8M	$146.4M	40x	as long as short
Aster BTCUSDT	+0.0021%	8h	$498.3M	$1.12B	200x	as long as short
Binance BTCUSDT	+0.0037%	8h	$9.46B	$21.86B	150x	as long as short
MEXC BTC_USDT	+0.0038%	8h	$5.10B	$5.25B	500x	as long as short
Aevo BTC-PERP	+0.0040%	1h	$2.4M	$1.4M	20x	as long as short
Extended BTC-USD	+0.0048%	1h	$48.6M	$203.1M	50x	as long as short
Gate BTC_USDT	+0.0048%	8h	$6.05B	$9.48B	200x	as long as short
Phemex BTCUSDT	+0.0059%	8h	$147.9M	$413.3M	150x	as long as short
Aftermath Perps BTCUSD	+0.0065%	1h	$87K	$149K	20x	as long as short
StandX BTC-USD	+0.0073%	1h	$30.5M	$229.9M	40x	as long as short
Bullet BTC-USD	+0.0082%	1h	$231K	$3.3M	20x	as long as short
Variational Omni BTC	+0.0084%	8h	$172.3M	$505.1M	—	as long as short
Paradex BTC-USD-PERP	+0.0093%	8h	$4.4M	$6.8M	50x	as long as short
Derive BTC-PERP	+0.0094%	1h	$30.2M	$60.4M	15x	as long as short
Lighter BTCshort	+0.0096%	1h	$172.0M	$932.7M	50x
Lighter RH BTC	+0.0096%	1h	$24.7M	$135.7M	50x	as long as short
Popdex BTCUSDT	+0.0096%	1h	$8.5M	$46.2M	100x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	$197K	$5.6M	50x	as long as short
Nado BTC-PERP	+0.0100%	1h	$23.9M	$225.4M	50x	as long as short
Pacifica BTClong	+0.0100%	1h	$36.6M	$378.6M	50x
Ondo Perps BTC-USD.P	+0.0100%	1h	$3.9M	$16.2M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	$6.5M	$84.3M	40x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	$37.4M	$118.8M	75x	as long as short
edgeX BTCUSDC	+0.0100%	4h	$278.0M	$890.7M	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	$11.6M	50x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	$2.4M	$7.3M	100x	as long as short
SunX BTC-USDT	+0.0100%	8h	$3.3M	$6.0M	100x	as long as short
HTX BTC-USDT	+0.0100%	8h	$2.28B	$839.1M	200x	as long as short
Kalshi KXBTCPERP	+0.0104%	8h	$14.5M	$607.3M	6.4x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0048%	1h	—	$86.5M	500x	as long as short
Hibachi BTC/USDT-P	+0.0112%	1h	$731K	$7.4M	30x	as long as short
Coinbase International BTC-PERP-INTX	+0.0112%	1h	$127.5M	$6.08B	50x	as long as short
Hyperliquid BTC	+0.0118%	1h	$3.88B	$4.37B	40x	as long as short
RISEx BTC/USDC	+0.0132%	1h	$8.9M	$38.5M	25x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0171% / S −0.0148%	1h	$12.4M	—	200x	as long as short
Deribit BTC-PERPETUAL	+0.0184%	1h	$911.5M	$1.12B	50x	as long as short