BTC

Alert

Funding spread now, next payment 16:18 UTC+0.0435%/8h

paid, last 24h+0.005%paid, last 7 days−0.330%to open and closeno order book

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Perpl BTC	85,806.5	−0.0335	get 0.0030% / 43m	10m 49s	$400K	$28.2M	6.7x
Short	Pacifica BTC	85,810.1	0.0100	get 0.0013% / 1h	24m 49s	$36.6M	$374.9M	50x

Funding history

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Funding on every exchange

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Profit calculator

Position, each leg$Hold fordaysFee PerplbpFee PacificabpOrdersRate

Funding earned: $91.33
Slippage, 4 orders: no order book: not counted
Fee Perpl: 6.9 bp × 2 orders: −$13.8
Fee Pacifica: 4 bp × 2 orders: −$8
Net: $69.53
Break-even: 1.7 days

Slippage unknown: Perpl: no order-book sample; Pacifica: live order book, 1 min ago. Net counts fees only.

Price risk

price view

Price gap now: +0.004%
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 Pacifica live order book, 1 min ago	0.06 bp	4.1 bp −$4	doesn't fit	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
Bluefin BTC-PERP	−0.8000%	1h	$142K	$408K	40x	as long as short
Perpl BTClong	−0.0335%	43m	$400K	$28.2M	6.7x
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
Hotstuff BTC-PERP	−0.0080%	1h	$9K	$4K	50x	as long as short
BloFin BTC-USDT	−0.0077%	8h	$421.3M	$565.6M	150x	as long as short
01 Exchange BTCUSD	−0.0056%	1h	$291K	$2.4M	50x	as long as short
ApeX Omni BTCUSDT	−0.0055%	1h	$138.6M	$317.8M	100x	as long as short
Kraken Futures PF_XBTUSD	−0.0040%	1h	$187.6M	$815.1M	100x	as long as short
SoDEX BTC-USD	−0.0039%	1h	$60.7M	$283.9M	40x	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
Phemex BTCUSDT	−0.0005%	8h	$148.6M	$413.6M	150x	as long as short
Bitget BTCUSDT	−0.0004%	8h	$2.97B	$4.68B	150x	as long as short
BingX BTC-USDT	−0.0004%	8h	—	$1.39B	—	as long as short
dYdX BTC-USD	0.0000%	1h	$17.2M	$17.6M	50x	as long as short
Bybit BTCUSDT	+0.0001%	8h	$5.22B	$8.59B	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	+0.0009%	8h	$790.1M	$615.3M	125x	as long as short
OKX BTC-USDT-SWAP	+0.0015%	8h	$2.64B	$11.60B	100x	as long as short
Bulk BTC-USD	+0.0019%	1h	$558.8M	$146.4M	40x	as long as short
Aster BTCUSDT	+0.0029%	8h	$496.8M	$1.13B	200x	as long as short
Aevo BTC-PERP	+0.0040%	1h	$2.4M	$1.4M	20x	as long as short
MEXC BTC_USDT	+0.0042%	8h	$5.12B	$5.23B	500x	as long as short
Binance BTCUSDT	+0.0043%	8h	$9.46B	$21.96B	150x	as long as short
Gate BTC_USDT	+0.0046%	8h	$6.07B	$9.44B	200x	as long as short
Extended BTC-USD	+0.0048%	1h	$48.7M	$206.2M	50x	as long as short
Aftermath Perps BTCUSD	+0.0055%	1h	$87K	$149K	20x	as long as short
Bullet BTC-USD	+0.0080%	1h	$231K	$3.3M	20x	as long as short
Variational Omni BTC	+0.0088%	8h	$172.3M	$505.0M	—	as long as short
StandX BTC-USD	+0.0092%	1h	$30.6M	$230.9M	40x	as long as short
Paradex BTC-USD-PERP	+0.0093%	8h	$4.4M	$6.8M	50x	as long as short
Lighter BTC	+0.0096%	1h	$171.6M	$928.3M	50x	as long as short
Lighter RH BTC	+0.0096%	1h	$24.6M	$135.0M	50x	as long as short
Popdex BTCUSDT	+0.0096%	1h	$8.5M	$46.8M	100x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	$197K	$5.7M	50x	as long as short
Nado BTC-PERP	+0.0100%	1h	$23.3M	$226.2M	50x	as long as short
Pacifica BTCshort	+0.0100%	1h	$36.6M	$374.9M	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	$84.4M	40x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	$37.3M	$117.7M	75x	as long as short
edgeX BTCUSDC	+0.0100%	4h	$278.4M	$889.4M	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
Derive BTC-PERP	+0.0100%	1h	$30.3M	$60.7M	15x	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	$841.7M	200x	as long as short
Kalshi KXBTCPERP	+0.0104%	8h	$14.4M	$606.2M	6.4x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0048%	1h	—	$87.4M	500x	as long as short
Deribit BTC-PERPETUAL	+0.0110%	1h	$911.3M	$1.12B	50x	as long as short
Coinbase International BTC-PERP-INTX	+0.0112%	1h	$128.5M	$6.12B	50x	as long as short
Hyperliquid BTC	+0.0122%	1h	$3.89B	$4.36B	40x	as long as short
Hibachi BTC/USDT-P	+0.0128%	1h	$732K	$7.4M	30x	as long as short
RISEx BTC/USDC	+0.0132%	1h	$8.9M	$38.3M	25x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0171% / S −0.0147%	1h	$12.4M	—	200x	as long as short