BTC

Alert

Funding spread now, next payment 19:00 UTC+0.0118%/8h

paid, last 24h+0.019%paid, last 7 days+0.095%to open and closeno order book

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex BTCUSDT	85,935.1	−0.0018	get 0.0018% / 8h	5h 53m	$147.9M	$420.8M	150x
Short	Ondo Perps BTC-USD.P	85,940	0.0100	get 0.0013% / 1h	53m 25s	$3.9M	$17.1M	25x

Funding history

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Funding on every exchange

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Profit calculator

Position, each leg$Hold fordaysFee PhemexbpFee Ondo PerpsbpOrdersRate

Funding earned: $24.69
Slippage, 4 orders: no order book: not counted
Fee Phemex: 6 bp × 2 orders: −$12
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Net: $7.69
Break-even: 4.8 days

Slippage unknown: Phemex: live order book, 2 min ago; Ondo Perps: no order-book sample. Net counts fees only.

Price risk

price view

Price gap now: +0.006%
Avg gap 7d: +0.005%

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 Phemex live order book, 2 min ago	0.01 bp	6.0 bp −$6	6.0 bp −$60	6.8 bp −$675	doesn't fit
Sell Ondo Perps no order-book sample	—	—	—	—	—

Ondo Perps: 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 BTC	−0.0447%	43m	$406K	$26.3M	6.7x	as long as short
Arcus BTC-USD	−0.0299%	1h	$6.7M	$85.2M	40x	as long as short
BloFin BTC-USDT	−0.0093%	8h	$422.5M	$567.9M	150x	as long as short
Phoenix BTC	−0.0082%	1h	$1.9M	$11.0M	40x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	$9K	$4K	50x	as long as short
01 Exchange BTCUSD	−0.0032%	1h	$310K	$2.4M	50x	as long as short
Kraken Futures PF_XBTUSD	−0.0019%	1h	$188.3M	$816.0M	100x	as long as short
Phemex BTCUSDTlong	−0.0018%	8h	$147.9M	$420.8M	150x
Reya BTCRUSDPERP	−0.0017%	1h	$6.7M	$138.3M	40x	as long as short
KuCoin XBTUSDTM	−0.0007%	8h	$804.6M	$619.1M	125x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	OI	Vol 24h	Max lev
Injective BTC/USDC PERP	−0.0006%	1h	$307K	$27.0M	52x	as long as short
dYdX BTC-USD	−0.0003%	1h	$17.2M	$18.1M	50x	as long as short
Bitget BTCUSDT	−0.0001%	8h	$2.96B	$4.68B	150x	as long as short
BingX BTC-USDT	−0.0001%	8h	—	$1.37B	—	as long as short
Kalshi KXBTCPERP	0.0000%	8h	$12.3M	$647.8M	6.4x	as long as short
Bulk BTC-USD	+0.0002%	1h	$562.2M	$127.9M	40x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0005% / S −0.0004%	1h	$36.8M	—	200x	as long as short
Aster BTCUSDT	+0.0015%	8h	$505.1M	$1.09B	200x	as long as short
OKX BTC-USDT-SWAP	+0.0020%	8h	$2.66B	$11.57B	100x	as long as short
Bybit BTCUSDT	+0.0023%	8h	$5.27B	$8.63B	150x	as long as short
MEXC BTC_USDT	+0.0026%	8h	$5.17B	$5.06B	500x	as long as short
Binance BTCUSDT	+0.0028%	8h	$9.47B	$22.06B	150x	as long as short
Gate BTC_USDT	+0.0031%	8h	$6.06B	$9.57B	200x	as long as short
RISEx BTC/USDC	+0.0031%	1h	$9.1M	$38.6M	25x	as long as short
Aevo BTC-PERP	+0.0032%	1h	$2.4M	$1.3M	20x	as long as short
ApeX Omni BTCUSDT	+0.0033%	1h	$139.7M	$319.7M	100x	as long as short
Aftermath Perps BTCUSD	+0.0036%	1h	$86K	$152K	20x	as long as short
SoDEX BTC-USD	+0.0043%	1h	$60.9M	$284.7M	40x	as long as short
Variational Omni BTC	+0.0068%	8h	$170.5M	$505.8M	—	as long as short
Extended BTC-USD	+0.0080%	1h	$48.5M	$200.2M	50x	as long as short
Popdex BTCUSDT	+0.0080%	1h	$8.5M	$46.4M	100x	as long as short
Lighter BTC	+0.0096%	1h	$172.1M	$941.3M	50x	as long as short
Lighter RH BTC	+0.0096%	1h	$24.5M	$137.1M	50x	as long as short
Paradex BTC-USD-PERP	+0.0098%	8h	$4.4M	$6.8M	50x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	$190K	$5.8M	50x	as long as short
Nado BTC-PERP	+0.0100%	1h	$23.1M	$227.0M	50x	as long as short
Pacifica BTC	+0.0100%	1h	$36.6M	$407.0M	50x	as long as short
Ondo Perps BTC-USD.Pshort	+0.0100%	1h	$3.9M	$17.1M	25x
Backpack BTC_USDC_PERP	+0.0100%	1h	$37.6M	$131.6M	75x	as long as short
edgeX BTCUSDC	+0.0100%	4h	$280.4M	$881.9M	100x	as long as short
StandX BTC-USD	+0.0100%	1h	$30.7M	$216.9M	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	$11.0M	$12.0M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	$236K	$3.3M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	$2.4M	$7.4M	100x	as long as short
Bluefin BTC-PERP	+0.0100%	1h	$143K	$411K	40x	as long as short
Derive BTC-PERP	+0.0100%	1h	$30.5M	$58.9M	15x	as long as short
SunX BTC-USDT	+0.0100%	8h	$3.4M	$5.8M	100x	as long as short
HTX BTC-USDT	+0.0100%	8h	$2.29B	$840.4M	200x	as long as short
Hibachi BTC/USDT-P	+0.0104%	1h	$752K	$6.6M	30x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0048%	1h	—	$83.8M	500x	as long as short
Deribit BTC-PERPETUAL	+0.0125%	1h	$916.2M	$1.10B	50x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0172% / S −0.0153%	1h	$12.7M	—	200x	as long as short
Hyperliquid BTC	+0.0179%	1h	$3.96B	$4.44B	40x	as long as short
Coinbase International BTC-PERP-INTX	+0.0200%	1h	$129.1M	$5.86B	50x	as long as short