BTC

Alert

Funding spread now, next payment 18:27 UTC+0.0547%/8h

paid, last 24h−0.176%paid, last 7 days−0.621%to open and closeno order book

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Perpl BTC	85,896	−0.0447	get 0.0040% / 43m	7m 11s	$411K	$26.0M	6.7x
Short	Bluefin BTC-PERP	85,954.9	0.0100	get 0.0013% / 1h	12m 11s	$144K	$411K	40x

Funding history

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Funding on every exchange

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Profit calculator

Position, each leg$Hold fordaysFee PerplbpFee BluefinbpOrdersRate

Funding earned: $114.77
Slippage, 4 orders: no order book: not counted
Fee Perpl: 6.9 bp × 2 orders: −$13.8
Fee Bluefin: 3.5 bp × 2 orders: −$7
Net: $93.97
Break-even: 1.3 days

Slippage unknown: Perpl: no order-book sample; Bluefin: live order book, 18 min ago. Net counts fees only.

Price risk

price view

Price gap now: +0.069%
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 Perpl no order-book sample	—	—	—	—	—
Sell Bluefin live order book, 18 min ago	1.16 bp	6.2 bp −$6	10.9 bp −$109	doesn't fit	doesn't fit

Perpl: 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 BTClong	−0.0447%	43m	$411K	$26.0M	6.7x
Arcus BTC-USD	−0.0299%	1h	$6.7M	$86.4M	40x	as long as short
BloFin BTC-USDT	−0.0092%	8h	$424.2M	$568.8M	150x	as long as short
Phoenix BTC	−0.0082%	1h	$2.0M	$11.0M	40x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	$9K	$4K	50x	as long as short
01 Exchange BTCUSD	−0.0048%	1h	$311K	$2.3M	50x	as long as short
Kraken Futures PF_XBTUSD	−0.0019%	1h	$189.0M	$819.8M	100x	as long as short
Reya BTCRUSDPERP	−0.0015%	1h	$6.8M	$138.4M	40x	as long as short
SoDEX BTC-USD	−0.0013%	1h	$60.9M	$285.8M	40x	as long as short
Aftermath Perps BTCUSD	−0.0011%	1h	$87K	$157K	20x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	OI	Vol 24h	Max lev
KuCoin XBTUSDTM	−0.0011%	8h	$808.7M	$623.3M	125x	as long as short
dYdX BTC-USD	−0.0007%	1h	$17.1M	$17.7M	50x	as long as short
Injective BTC/USDC PERP	−0.0006%	1h	$308K	$27.0M	52x	as long as short
Kalshi KXBTCPERP	0.0000%	8h	$12.0M	$661.3M	6.4x	as long as short
Bitget BTCUSDT	+0.0002%	8h	$2.97B	$4.69B	150x	as long as short
BingX BTC-USDT	+0.0002%	8h	—	$1.37B	—	as long as short
gTrade (Gains Network) BTC/USD	L +0.0005% / S −0.0004%	1h	$36.7M	—	200x	as long as short
Bulk BTC-USD	+0.0007%	1h	$563.6M	$124.3M	40x	as long as short
Aster BTCUSDT	+0.0016%	8h	$506.5M	$1.10B	200x	as long as short
Phemex BTCUSDT	+0.0025%	8h	$154.0M	$427.2M	150x	as long as short
MEXC BTC_USDT	+0.0028%	8h	$5.14B	$5.14B	500x	as long as short
Binance BTCUSDT	+0.0029%	8h	$9.51B	$22.23B	150x	as long as short
RISEx BTC/USDC	+0.0031%	1h	$9.3M	$38.7M	25x	as long as short
Aevo BTC-PERP	+0.0032%	1h	$2.4M	$1.3M	20x	as long as short
OKX BTC-USDT-SWAP	+0.0035%	8h	$2.67B	$11.61B	100x	as long as short
HTX BTC-USDT	+0.0043%	8h	$2.29B	$858.7M	200x	as long as short
Popdex BTCUSDT	+0.0048%	1h	$8.5M	$46.4M	100x	as long as short
Gate BTC_USDT	+0.0048%	8h	$6.08B	$9.69B	200x	as long as short
Bybit BTCUSDT	+0.0050%	8h	$5.28B	$8.69B	150x	as long as short
Hibachi BTC/USDT-P	+0.0072%	1h	$748K	$6.5M	30x	as long as short
ApeX Omni BTCUSDT	+0.0074%	1h	$139.9M	$320.3M	100x	as long as short
Variational Omni BTC	+0.0074%	8h	$169.4M	$507.6M	—	as long as short
Extended BTC-USD	+0.0088%	1h	$48.4M	$201.5M	50x	as long as short
Orderly PERP_BTC_USDC	+0.0090%	8h	$2.4M	$7.4M	100x	as long as short
Lighter BTC	+0.0096%	1h	$172.2M	$955.1M	50x	as long as short
Lighter RH BTC	+0.0096%	1h	$24.5M	$139.2M	50x	as long as short
Paradex BTC-USD-PERP	+0.0099%	8h	$4.4M	$6.9M	50x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	$207K	$5.9M	50x	as long as short
Nado BTC-PERP	+0.0100%	1h	$23.0M	$227.5M	50x	as long as short
Pacifica BTC	+0.0100%	1h	$36.5M	$424.4M	50x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	$4.0M	$17.4M	25x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	$37.5M	$135.0M	75x	as long as short
edgeX BTCUSDC	+0.0100%	4h	$280.8M	$884.1M	100x	as long as short
StandX BTC-USD	+0.0100%	1h	$30.7M	$210.1M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	—	$11.5M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	$10.9M	$12.4M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	$232K	$3.3M	20x	as long as short
Bluefin BTC-PERPshort	+0.0100%	1h	$144K	$411K	40x
Derive BTC-PERP	+0.0100%	1h	$30.4M	$59.0M	15x	as long as short
SunX BTC-USDT	+0.0100%	8h	$3.4M	$5.7M	100x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0048%	1h	—	$83.3M	500x	as long as short
Hyperliquid BTC	+0.0141%	1h	$3.96B	$4.51B	40x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0175% / S −0.0177%	1h	$13.7M	—	200x	as long as short
Coinbase International BTC-PERP-INTX	+0.0200%	1h	$129.4M	$5.84B	50x	as long as short
Deribit BTC-PERPETUAL	+0.0239%	1h	$917.5M	$1.12B	50x	as long as short