BTC

Alert

Funding spread now, next payment 13:25 UTC+0.0543%/8h

paid, last 24h−0.017%paid, last 7 days−0.362%to open and closeno order book

The current rate is far above what this pair has been paying: over the last 7 days it paid -0.362% in total (about -18.9% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Perpl BTC	85,068.8	−0.0447	get 0.0040% / 43m	27m 05s	$409K	$31.8M	6.7x
Short	Lighter BTC	85,010.2	0.0096	get 0.0012% / 1h	33m 05s	$188.5M	$773.5M	50x

Funding history

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Funding on every exchange

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Profit calculator

Position, each leg$Hold fordaysFee PerplbpFee LighterbpOrdersRate

Funding earned: $113.93
Slippage, 4 orders: no order book: not counted
Fee Perpl: 6.9 bp × 2 orders: −$13.8
Fee Lighter: 0 bp × 2 orders: $0
Net: $100.13
Break-even: 0.8 days

Slippage unknown: Perpl: no order-book sample; Lighter: live order book, 8 min ago. Net counts fees only.

Price risk

price view

Price gap now: −0.069%
Avg gap 7d: −0.010%

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 Lighter live order book, 8 min ago	0.02 bp	0.4 bp $0	0.6 bp −$6	1.8 bp −$177	4.4 bp −$2,205

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	$409K	$31.8M	6.7x
ApeX Omni BTCUSDT	−0.0209%	1h	$137.1M	$313.9M	100x	as long as short
edgeX BTCUSDC	−0.0111%	4h	$283.1M	$734.9M	100x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	$9K	$2K	50x	as long as short
Gate BTC_USDT	−0.0055%	8h	$6.02B	$7.80B	200x	as long as short
Reya BTCRUSDPERP	−0.0047%	1h	$6.8M	$128.8M	40x	as long as short
Injective BTC/USDC PERP	−0.0036%	1h	$322K	$27.0M	52x	as long as short
01 Exchange BTCUSD	−0.0032%	1h	$314K	$2.1M	50x	as long as short
Bitget BTCUSDT	−0.0015%	8h	$2.92B	$3.96B	150x	as long as short
BingX BTC-USDC	−0.0014%	8h	—	$15.1M	—	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	OI	Vol 24h	Max lev
HTX BTC-USDT	−0.0004%	8h	$2.28B	$726.6M	200x	as long as short
Aftermath Perps BTCUSD	−0.0003%	1h	$83K	$136K	20x	as long as short
dYdX BTC-USD	0.0000%	1h	$16.1M	$13.4M	50x	as long as short
Kalshi KXBTCPERP	0.0000%	8h	$8.7M	$448.4M	6.4x	as long as short
SoDEX BTC-USD	+0.0001%	1h	$60.9M	$233.3M	40x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0004% / S −0.0004%	1h	$36.4M	—	200x	as long as short
Backpack BTC_USDC_PERP	+0.0039%	1h	$39.8M	$102.4M	75x	as long as short
Phemex BTCUSDT	+0.0040%	8h	$163.0M	$353.4M	150x	as long as short
Aster BTCUSDT	+0.0052%	8h	$489.3M	$867.6M	200x	as long as short
Popdex BTCUSDT	+0.0056%	1h	$8.4M	$36.5M	100x	as long as short
OKX BTC-USDT-SWAP	+0.0072%	8h	$2.54B	$9.88B	100x	as long as short
Nado BTC-PERP	+0.0074%	1h	$22.8M	$204.3M	50x	as long as short
KuCoin XBTUSDTM	+0.0078%	8h	$803.8M	$544.6M	125x	as long as short
Bullet BTC-USD	+0.0082%	1h	$227K	$3.3M	20x	as long as short
RISEx BTC/USDC	+0.0090%	1h	$7.8M	$35.1M	25x	as long as short
Lighter BTCshort	+0.0096%	1h	$188.5M	$773.5M	50x
Lighter RH BTC	+0.0096%	1h	$24.9M	$122.0M	50x	as long as short
Aevo BTC-PERP	+0.0096%	1h	$2.4M	$1.7M	20x	as long as short
Paradex BTC-USD-PERP	+0.0097%	8h	$4.3M	$6.5M	50x	as long as short
StandX BTC-USD	+0.0098%	1h	$30.3M	$249.1M	40x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	$225K	$4.5M	50x	as long as short
Pacifica BTC	+0.0100%	1h	$36.4M	$289.3M	50x	as long as short
Binance BTCUSDT	+0.0100%	8h	$9.49B	$17.83B	150x	as long as short
Bybit BTCUSDT	+0.0100%	8h	$5.04B	$7.14B	150x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	$3.9M	$14.8M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	$6.4M	$72.2M	40x	as long as short
MEXC BTC_USDT	+0.0100%	8h	$5.07B	$4.31B	500x	as long as short
Variational Omni BTC	+0.0100%	8h	$171.5M	$441.5M	—	as long as short
Vest BTC-PERP	+0.0100%	1h	—	$12.4M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	$10.7M	$9.7M	50x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	$2.3M	$6.3M	100x	as long as short
Bluefin BTC-PERP	+0.0100%	1h	$142K	$355K	40x	as long as short
Derive BTC-PERP	+0.0100%	1h	$26.1M	$49.8M	15x	as long as short
SunX BTC-USDT	+0.0100%	8h	$3.3M	$5.0M	100x	as long as short
Bulk BTC-USD	+0.0100%	1h	$531.7M	$81.4M	40x	as long as short
Extended BTC-USD	+0.0104%	1h	$46.9M	$173.0M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0048%	1h	—	$79.3M	500x	as long as short
Coinbase International BTC-PERP-INTX	+0.0120%	1h	$139.6M	$5.86B	50x	as long as short
Kraken Futures PF_XBTUSD	+0.0124%	1h	$185.0M	$696.0M	100x	as long as short
Phoenix BTC	+0.0126%	1h	$1.5M	$10.3M	40x	as long as short
Hyperliquid BTC	+0.0156%	1h	$3.83B	$3.78B	40x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0190% / S −0.0195%	1h	$12.9M	—	200x	as long as short
BloFin BTC-USDT	+0.0225%	8h	$419.2M	$403.1M	150x	as long as short
Hibachi BTC/USDT-P	+0.0232%	1h	$604K	$7.5M	30x	as long as short
Deribit BTC-PERPETUAL	+0.0325%	1h	$829.4M	$850.9M	50x	as long as short