BTC

Alert

Funding spread now, next payment 18:27 UTC+0.0543%/8h

paid, last 24h+0.011%paid, last 7 days−0.314%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 -0.314% in total (about -16.4% 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	85,930.7	−0.0447	get 0.0040% / 43m	8m 28s	$402K	$26.0M	6.7x
Short	Lighter RH BTC	85,931.6	0.0096	get 0.0012% / 1h	13m 28s	$24.5M	$139.1M	50x

Funding history

latest

Range statsloading…

Funding on every exchange

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latest

Profit calculator

Position, each leg$Hold fordaysFee PerplbpFee Lighter RHbpOrdersRate

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

Slippage unknown: Perpl: no order-book sample; Lighter RH: live order book, 2 min ago. Net counts fees only.

Price risk

price view

Price gap now: +0.001%
Avg gap 7d: −0.009%

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 RH live order book, 2 min ago	0.12 bp	1.2 bp −$1	1.7 bp −$17	3.0 bp −$305	24.9 bp −$12.4K

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	$402K	$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	$568.9M	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	$310K	$2.3M	50x	as long as short
Kraken Futures PF_XBTUSD	−0.0019%	1h	$189.1M	$819.6M	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	$285.7M	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	−0.0010%	8h	$807.8M	$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	$11.9M	$660.1M	6.4x	as long as short
Bitget BTCUSDT	+0.0002%	8h	$2.96B	$4.68B	150x	as long as short
BingX BTC-USDC	+0.0002%	8h	—	$14.4M	—	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	+0.0015%	8h	$506.5M	$1.10B	200x	as long as short
Phemex BTCUSDT	+0.0017%	8h	$153.7M	$426.9M	150x	as long as short
Aevo BTC-PERP	+0.0024%	1h	$2.4M	$1.3M	20x	as long as short
MEXC BTC_USDT	+0.0028%	8h	$5.14B	$5.14B	500x	as long as short
Binance BTCUSDT	+0.0028%	8h	$9.51B	$22.21B	150x	as long as short
RISEx BTC/USDC	+0.0031%	1h	$9.3M	$38.7M	25x	as long as short
OKX BTC-USDT-SWAP	+0.0035%	8h	$2.67B	$11.61B	100x	as long as short
Popdex BTCUSDT	+0.0040%	1h	$8.5M	$46.4M	100x	as long as short
HTX BTC-USDT	+0.0043%	8h	$2.29B	$858.2M	200x	as long as short
Gate BTC_USDT	+0.0050%	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
Orderly PERP_BTC_USDC	+0.0091%	8h	$2.4M	$7.4M	100x	as long as short
Lighter BTC	+0.0096%	1h	$172.3M	$954.7M	50x	as long as short
Lighter RH BTCshort	+0.0096%	1h	$24.5M	$139.1M	50x
Extended BTC-USD	+0.0096%	1h	$48.4M	$201.3M	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	$209K	$5.9M	50x	as long as short
Nado BTC-PERP	+0.0100%	1h	$23.0M	$227.4M	50x	as long as short
Pacifica BTC	+0.0100%	1h	$36.6M	$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	$231K	$3.3M	20x	as long as short
Bluefin BTC-PERP	+0.0100%	1h	$144K	$411K	40x	as long as short
Derive BTC-PERP	+0.0100%	1h	$30.4M	$58.9M	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	—	$83.4M	500x	as long as short
Hyperliquid BTC	+0.0142%	1h	$3.96B	$4.50B	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	$129.5M	$5.84B	50x	as long as short
Deribit BTC-PERPETUAL	+0.0231%	1h	$917.4M	$1.12B	50x	as long as short