BTC

Alert

Funding spread now, next payment 18:00 UTC+0.0093%/8h

next payment, per $10,000+$0.12paid, last 24h−0.004%paid, last 3 days−0.025%to open and close $10k−$15

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phoenix BTC	85,844	−0.0082	get 0.0010% / 1h	56m 02s	$1.9M	$11.0M	40x
Short	SoDEX BTC-USD	85,830	0.0011	get 0.0001% / 1h	56m 02s	$60.8M	$284.6M	40x

Funding history

latest

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Funding on every exchange

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Profit calculator

Position, each leg$Hold fordaysFee PhoenixbpFee SoDEXbpOrdersRate

Funding earned: $19.44
Slippage, 4 orders: −$0.47
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee SoDEX: 4 bp × 2 orders: −$8
Net: $3.97
Break-even: 5.6 days

Slippage from Phoenix: live order book, 4 min ago; SoDEX: live order book, 5 min ago.

Price risk

price view

Price gap now: −0.016%
Avg gap 7d: −0.039%

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, 4 min ago	0.06 bp	3.7 bp −$4	6.2 bp −$62	11.8 bp −$1,181	doesn't fit
Sell SoDEX live order book, 5 min ago	0.06 bp	4.1 bp −$4	4.1 bp −$41	4.9 bp −$491	42.1 bp −$21.1K

BTC on 55 venues

lowest funding first. Swap a leg.

Exchange	Funding /8h	Every	OI	Vol 24h	Max lev
Perpl BTC	−0.0447%	43m	$407K	$26.3M	6.7x	as long as short
Arcus BTC-USD	−0.0299%	1h	$6.7M	$85.4M	40x	as long as short
BloFin BTC-USDT	−0.0094%	8h	$423.0M	$567.4M	150x	as long as short
Phoenix BTClong	−0.0082%	1h	$1.9M	$11.0M	40x
Hotstuff BTC-PERP	−0.0080%	1h	$9K	$4K	50x	as long as short
ApeX Omni BTCUSDT	−0.0042%	1h	$139.6M	$319.6M	100x	as long as short
01 Exchange BTCUSD	−0.0032%	1h	$309K	$2.4M	50x	as long as short
Kraken Futures PF_XBTUSD	−0.0019%	1h	$188.0M	$816.2M	100x	as long as short
Reya BTCRUSDPERP	−0.0017%	1h	$6.7M	$138.3M	40x	as long as short
KuCoin XBTUSDTM	−0.0007%	8h	$802.6M	$618.9M	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	−0.0006%	1h	$17.1M	$18.1M	50x	as long as short
Phemex BTCUSDT	−0.0006%	8h	$148.0M	$420.2M	150x	as long as short
Bulk BTC-USD	−0.0005%	1h	$560.1M	$127.0M	40x	as long as short
BingX BTC-USDC	−0.0002%	8h	—	$14.7M	—	as long as short
Bitget BTCUSDT	−0.0001%	8h	$2.96B	$4.67B	150x	as long as short
Kalshi KXBTCPERP	0.0000%	8h	$12.4M	$647.0M	6.4x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0005% / S −0.0004%	1h	$36.7M	—	200x	as long as short
SoDEX BTC-USDshort	+0.0011%	1h	$60.8M	$284.6M	40x
Aster BTCUSDT	+0.0013%	8h	$504.5M	$1.09B	200x	as long as short
Gate BTC_USDT	+0.0018%	8h	$6.06B	$9.55B	200x	as long as short
OKX BTC-USDT-SWAP	+0.0019%	8h	$2.65B	$11.56B	100x	as long as short
Bybit BTCUSDT	+0.0021%	8h	$5.25B	$8.62B	150x	as long as short
Aevo BTC-PERP	+0.0024%	1h	$2.4M	$1.3M	20x	as long as short
MEXC BTC_USDT	+0.0025%	8h	$5.18B	$5.05B	500x	as long as short
Binance BTCUSDT	+0.0026%	8h	$9.46B	$22.07B	150x	as long as short
RISEx BTC/USDC	+0.0031%	1h	$9.1M	$38.5M	25x	as long as short
Aftermath Perps BTCUSD	+0.0039%	1h	$86K	$152K	20x	as long as short
Popdex BTCUSDT	+0.0056%	1h	$8.5M	$46.7M	100x	as long as short
Variational Omni BTC	+0.0062%	8h	$170.3M	$505.9M	—	as long as short
Extended BTC-USD	+0.0080%	1h	$48.6M	$200.1M	50x	as long as short
Lighter BTC	+0.0096%	1h	$171.4M	$939.5M	50x	as long as short
Lighter RH BTC	+0.0096%	1h	$24.5M	$136.9M	50x	as long as short
Paradex BTC-USD-PERP	+0.0098%	8h	$4.4M	$6.9M	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	$23.2M	$227.1M	50x	as long as short
Pacifica BTC	+0.0100%	1h	$36.5M	$407.0M	50x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	$3.9M	$16.8M	25x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	$37.5M	$131.1M	75x	as long as short
edgeX BTCUSDC	+0.0100%	4h	$280.3M	$880.7M	100x	as long as short
StandX BTC-USD	+0.0100%	1h	$30.6M	$217.7M	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	$11.9M	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	$30.4M	$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	$2.28B	$838.5M	200x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0048%	1h	—	$84.5M	500x	as long as short
Hibachi BTC/USDT-P	+0.0112%	1h	$751K	$6.6M	30x	as long as short
Deribit BTC-PERPETUAL	+0.0113%	1h	$916.2M	$1.10B	50x	as long as short
Hyperliquid BTC	+0.0155%	1h	$3.96B	$4.45B	40x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0172% / S −0.0153%	1h	$12.7M	—	200x	as long as short
Coinbase International BTC-PERP-INTX	+0.0200%	1h	$128.9M	$5.85B	50x	as long as short