BTC

Alert

Funding spread now, next payment 14:08 UTC+0.0451%/8h

paid, last 24h−0.041%paid, last 3 days−0.531%to open and closeno order book

Long on Perpl Short on gTrade (Gains Network)

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Perpl BTC	85,246	−0.0447	get 0.0040% / 43m	20m 58s	$430K	$31.1M	6.7x
Short	gTrade (Gains Network) BTC/USD	85,205	L +0.0004% / S −0.0004%	get 0.0001% / 1h	43m 58s	$36.4M	—	200x

Funding history

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Funding on every exchange

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Profit calculator

Position, each leg$Hold fordaysFee PerplbpFee gTrade (Gains Network)bpOrdersRate

Funding earned: $94.65
Slippage, 4 orders: no order book: not counted
Fee Perpl: 6.9 bp × 2 orders: −$13.8
Fee gTrade (Gains Network): 3.5 bp × 2 orders: −$7
Net: $73.85
Break-even: 1.5 days

Slippage unknown: Perpl: no order-book sample; gTrade (Gains Network): virtual book (oracle venue), 2 min ago. Net counts fees only.

Price risk

price view

Price gap now: −0.048%
Avg gap 7d: −0.003%

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 gTrade (Gains Network) virtual book (oracle venue), 2 min ago	0.51 bp	4.0 bp −$4	4.1 bp −$41	4.5 bp −$446	6.4 bp −$3,182

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
Bluefin BTC-PERP	−0.1569%	1h	$142K	$400K	40x	as long as short
Perpl BTClong	−0.0447%	43m	$430K	$31.1M	6.7x
edgeX BTCUSDC	−0.0109%	4h	$282.7M	$795.0M	100x	as long as short
ApeX Omni BTCUSDT	−0.0092%	1h	$137.6M	$316.2M	100x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	$8K	$3K	50x	as long as short
Aftermath Perps BTCUSD	−0.0057%	1h	$83K	$140K	20x	as long as short
01 Exchange BTCUSD	−0.0056%	1h	$279K	$2.3M	50x	as long as short
Reya BTCRUSDPERP	−0.0034%	1h	$6.8M	$137.3M	40x	as long as short
Gate BTC_USDT	−0.0019%	8h	$6.02B	$8.50B	200x	as long as short
BingX BTC-USDC	−0.0011%	8h	—	$14.5M	—	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	OI	Vol 24h	Max lev
Bitget BTCUSDT	−0.0010%	8h	$2.96B	$4.28B	150x	as long as short
Phemex BTCUSDT	−0.0008%	8h	$157.5M	$374.0M	150x	as long as short
dYdX BTC-USD	0.0000%	1h	$16.1M	$13.8M	50x	as long as short
Kalshi KXBTCPERP	0.0000%	8h	$8.7M	$499.5M	6.4x	as long as short
gTrade (Gains Network) BTC/USDshort	L +0.0004% / S −0.0004%	1h	$36.4M	—	200x
Derive BTC-PERP	+0.0007%	1h	$28.0M	$54.4M	15x	as long as short
Phoenix BTC	+0.0015%	1h	$1.6M	$10.8M	40x	as long as short
HTX BTC-USDT	+0.0030%	8h	$2.28B	$782.1M	200x	as long as short
Aster BTCUSDT	+0.0038%	8h	$491.3M	$1.00B	200x	as long as short
SoDEX BTC-USD	+0.0041%	1h	$61.1M	$234.5M	40x	as long as short
Kraken Futures PF_XBTUSD	+0.0042%	1h	$187.7M	$750.0M	100x	as long as short
OKX BTC-USDT-SWAP	+0.0055%	8h	$2.56B	$10.67B	100x	as long as short
KuCoin XBTUSDTM	+0.0065%	8h	$801.7M	$576.3M	125x	as long as short
Paradex BTC-USD-PERP	+0.0082%	8h	$4.3M	$6.5M	50x	as long as short
Binance BTCUSDT	+0.0093%	8h	$9.51B	$19.56B	150x	as long as short
MEXC BTC_USDT	+0.0094%	8h	$4.90B	$4.65B	500x	as long as short
Lighter BTC	+0.0096%	1h	$182.3M	$850.6M	50x	as long as short
Lighter RH BTC	+0.0096%	1h	$25.5M	$131.8M	50x	as long as short
Popdex BTCUSDT	+0.0096%	1h	$8.4M	$40.6M	100x	as long as short
Aevo BTC-PERP	+0.0096%	1h	$2.4M	$1.7M	20x	as long as short
Nado BTC-PERP	+0.0098%	1h	$23.8M	$221.6M	50x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	$205K	$4.9M	50x	as long as short
Pacifica BTC	+0.0100%	1h	$36.7M	$312.3M	50x	as long as short
Bybit BTCUSDT	+0.0100%	8h	$5.04B	$7.81B	150x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	$3.9M	$15.6M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	$6.1M	$77.4M	40x	as long as short
Bulk BTC-USD	+0.0100%	1h	$533.0M	$59.2M	40x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	$39.3M	$101.1M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	$172.0M	$467.0M	—	as long as short
StandX BTC-USD	+0.0100%	1h	$30.5M	$246.7M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	—	$13.1M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	$10.8M	$10.5M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	$248K	$3.3M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	$2.4M	$6.7M	100x	as long as short
SunX BTC-USDT	+0.0100%	8h	$3.3M	$5.3M	100x	as long as short
Extended BTC-USD	+0.0104%	1h	$47.5M	$200.3M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0048%	1h	—	$85.5M	500x	as long as short
Coinbase International BTC-PERP-INTX	+0.0112%	1h	$142.7M	$6.12B	50x	as long as short
Hyperliquid BTC	+0.0120%	1h	$3.84B	$4.09B	40x	as long as short
Hibachi BTC/USDT-P	+0.0168%	1h	$592K	$7.4M	30x	as long as short
RISEx BTC/USDC	+0.0178%	1h	$8.7M	$36.7M	25x	as long as short
Injective BTC/USDC PERP	+0.0180%	1h	$306K	$27.0M	52x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0197% / S −0.0209%	1h	$13.1M	—	200x	as long as short
BloFin BTC-USDT	+0.0214%	8h	$420.8M	$480.1M	150x	as long as short
Deribit BTC-PERPETUAL	+0.0315%	1h	$849.3M	$923.8M	50x	as long as short