BTC

Alert

Funding spread now, next payment 16:00 UTC+0.0216%/8h

next payment, per $10,000+$0.27paid, last 24h+0.009%paid, last 7 days+0.111%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 0.111% in total (about 5.8% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.27 per $10,000. 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	Phoenix BTC	85,955	−0.0116	get 0.0015% / 1h	58m 36s	$1.9M	$10.8M	40x
Short	Ondo Perps BTC-USD.P	85,965	0.0100	get 0.0013% / 1h	58m 36s	$4.0M	$16.4M	25x

Funding history

latest

Range statsloading…

Funding on every exchange

click an exchange to add or hide it

latest

Profit calculator

Position, each leg$Hold fordaysFee PhoenixbpFee Ondo PerpsbpOrdersRate

Funding earned: $45.45
Slippage, 4 orders: no order book: not counted
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Net: $33.45
Break-even: 1.8 days

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

Price risk

price view

Price gap now: +0.012%
Avg gap 7d: −0.058%

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 Phoenix live order book, 2 min ago	0.06 bp	3.7 bp −$4	5.3 bp −$53	10.7 bp −$1,073	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
Arcus BTC-USD	−0.0377%	1h	$6.6M	$84.6M	40x	as long as short
Perpl BTC	−0.0223%	43m	$405K	$27.3M	6.7x	as long as short
Phoenix BTClong	−0.0116%	1h	$1.9M	$10.8M	40x
BloFin BTC-USDT	−0.0084%	8h	$421.0M	$563.9M	150x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	$9K	$4K	50x	as long as short
Kraken Futures PF_XBTUSD	−0.0073%	1h	$189.2M	$812.7M	100x	as long as short
Phemex BTCUSDT	−0.0070%	8h	$148.7M	$413.6M	150x	as long as short
Extended BTC-USD	−0.0024%	1h	$48.7M	$201.9M	50x	as long as short
Injective BTC/USDC PERP	−0.0019%	1h	$308K	$27.0M	52x	as long as short
Reya BTCRUSDPERP	−0.0018%	1h	$6.7M	$138.1M	40x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	OI	Vol 24h	Max lev
Bulk BTC-USD	−0.0010%	1h	$560.4M	$140.4M	40x	as long as short
01 Exchange BTCUSD	−0.0008%	1h	$293K	$2.4M	50x	as long as short
Bitget BTCUSDT	−0.0003%	8h	$2.96B	$4.68B	150x	as long as short
BingX BTC-USDC	−0.0003%	8h	—	$14.7M	—	as long as short
SoDEX BTC-USD	−0.0002%	1h	$60.9M	$284.0M	40x	as long as short
ApeX Omni BTCUSDT	−0.0001%	1h	$138.9M	$318.3M	100x	as long as short
dYdX BTC-USD	0.0000%	1h	$17.3M	$17.7M	50x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0005% / S −0.0004%	1h	$36.8M	—	200x	as long as short
KuCoin XBTUSDTM	+0.0005%	8h	$793.9M	$610.6M	125x	as long as short
OKX BTC-USDT-SWAP	+0.0012%	8h	$2.66B	$11.54B	100x	as long as short
Bybit BTCUSDT	+0.0019%	8h	$5.24B	$8.57B	150x	as long as short
Aster BTCUSDT	+0.0024%	8h	$505.2M	$1.12B	200x	as long as short
Aevo BTC-PERP	+0.0032%	1h	$2.4M	$1.3M	20x	as long as short
Binance BTCUSDT	+0.0035%	8h	$9.50B	$21.93B	150x	as long as short
MEXC BTC_USDT	+0.0035%	8h	$5.17B	$5.06B	500x	as long as short
Gate BTC_USDT	+0.0040%	8h	$6.06B	$9.42B	200x	as long as short
RISEx BTC/USDC	+0.0040%	1h	$9.2M	$38.9M	25x	as long as short
Lighter BTC	+0.0064%	1h	$172.2M	$927.8M	50x	as long as short
Popdex BTCUSDT	+0.0064%	1h	$8.5M	$46.3M	100x	as long as short
Derive BTC-PERP	+0.0073%	1h	$30.4M	$59.8M	15x	as long as short
Variational Omni BTC	+0.0085%	8h	$172.6M	$507.8M	—	as long as short
Bullet BTC-USD	+0.0091%	1h	$231K	$3.3M	20x	as long as short
StandX BTC-USD	+0.0091%	1h	$30.6M	$227.9M	40x	as long as short
Paradex BTC-USD-PERP	+0.0093%	8h	$4.4M	$6.8M	50x	as long as short
Lighter RH BTC	+0.0096%	1h	$24.6M	$134.4M	50x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	$216K	$5.6M	50x	as long as short
Nado BTC-PERP	+0.0100%	1h	$23.5M	$227.2M	50x	as long as short
Pacifica BTC	+0.0100%	1h	$37.0M	$385.2M	50x	as long as short
Ondo Perps BTC-USD.Pshort	+0.0100%	1h	$4.0M	$16.4M	25x
Backpack BTC_USDC_PERP	+0.0100%	1h	$37.5M	$123.5M	75x	as long as short
edgeX BTCUSDC	+0.0100%	4h	$279.1M	$891.5M	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	$11.5M	50x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	$2.3M	$7.3M	100x	as long as short
Bluefin BTC-PERP	+0.0100%	1h	$142K	$367K	40x	as long as short
SunX BTC-USDT	+0.0100%	8h	$3.3M	$5.9M	100x	as long as short
HTX BTC-USDT	+0.0100%	8h	$2.29B	$839.6M	200x	as long as short
Aftermath Perps BTCUSD	+0.0100%	1h	$87K	$150K	20x	as long as short
Hyperliquid BTC	+0.0101%	1h	$3.89B	$4.38B	40x	as long as short
Kalshi KXBTCPERP	+0.0104%	8h	$14.5M	$617.0M	6.4x	as long as short
Hibachi BTC/USDT-P	+0.0104%	1h	$756K	$7.4M	30x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0048%	1h	—	$85.7M	500x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0171% / S −0.0149%	1h	$12.5M	—	200x	as long as short
Coinbase International BTC-PERP-INTX	+0.0184%	1h	$128.5M	$6.01B	50x	as long as short
Deribit BTC-PERPETUAL	+0.0203%	1h	$913.2M	$1.11B	50x	as long as short