BTC

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0120%/8h= +13.2% APRnext payment +$0.15 per $10,000 · paid last 24h +0.017%

Price spread now: GMX against Polymarket Perps+0.019%7-day average +0.039% · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Polymarket Perps Short on GMX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.056%+$6 on $10k

Price spread, last 3 days (all we have)+0.005%+$1 · spread now +0.019%, 7d avg +0.039%

Together, before fees+0.062%+$6 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.039%, so right now this pair is about funding alone: +$4 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Polymarket Perps BTC-USD	86,460	0.0100	pay 0.0013% / 1h	18m 52s	$11.1M	$13.9M	50x
Short	GMX BTC/USD [WBTC.b-USDC]	86,476.3	L +0.0197% / S −0.0220%	get 0.0028% / 1h	18m 52s	$15.0M	—	200x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against Polymarket Perps. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee Polymarket PerpsbpFee GMXbpOrdersPrice spread, now +0.019%Rate

Funding earned: $25.3
Price spread: +0.019% → +0.039%: −$1.98
Slippage, 4 orders: no order book: not counted
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee GMX: 6 bp × 2 orders: −$12
Net: $3.33
Costs to cover: 0.200%
Break-even: 6.1 days

Slippage unknown: Polymarket Perps: live order book, 5 min ago; GMX: no order-book sample. Net counts fees only.

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 Polymarket Perps live order book, 5 min ago	0.06 bp	5.1 bp −$5	5.9 bp −$59	8.4 bp −$841	doesn't fit
Sell GMX no order-book sample	—	—	—	—	—

GMX: 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 56 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phoenix BTC	−0.0118%	1h	86,367	−0.108%	$2.2M	$11.8M	40x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	86,405	−0.064%	$9K	$3K	50x	as long as short
Injective BTC/USDC PERP	−0.0035%	1h	86,345	−0.133%	$332K	$26.9M	52x	as long as short
RISEx BTC/USDC	−0.0024%	1h	86,463	+0.004%	$8.3M	$42.7M	25x	as long as short
01 Exchange BTCUSD	−0.0016%	1h	86,456.8	−0.004%	$359K	$2.5M	50x	as long as short
Perpl BTC	0.0000%	43m	86,446.2	−0.016%	$411K	$22.7M	6.7x	as long as short
Aster BTCUSDT	+0.0003%	8h	86,471.1	+0.013%	$501.7M	$1.15B	200x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0005% / S −0.0004%	1h	86,481.2	+0.025%	$36.8M	—	200x	as long as short
KuCoin XBTUSDTM	+0.0017%	8h	86,457.4	−0.003%	$853.4M	$716.2M	125x	as long as short
Reya BTCRUSDPERP	+0.0033%	1h	86,460.3	0.000%	$6.7M	$145.5M	40x	as long as short

Show all 56 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX BTC-USDC	+0.0042%	8h	86,462.1	+0.002%	—	$15.4M	—	as long as short
Bitget BTCUSDT	+0.0052%	8h	86,462	+0.002%	$2.96B	$5.13B	150x	as long as short
Phemex BTCUSDT	+0.0052%	8h	86,461.8	+0.002%	$150.3M	$478.6M	150x	as long as short
dYdX BTC-USD	+0.0060%	1h	86,411.1	−0.057%	$16.9M	$21.2M	50x	as long as short
MEXC BTC_USDT	+0.0069%	8h	86,473.4	+0.015%	$5.16B	$5.68B	500x	as long as short
Binance BTCUSDT	+0.0071%	8h	86,470.5	+0.012%	$9.43B	$24.56B	150x	as long as short
Aevo BTC-PERP	+0.0072%	1h	86,457.3	−0.003%	$2.4M	$1.3M	20x	as long as short
Gate BTC_USDT	+0.0081%	8h	86,476.5	+0.019%	$5.86B	$10.79B	200x	as long as short
Lighter BTC	+0.0096%	1h	86,466.1	+0.007%	$170.2M	$1.02B	50x	as long as short
Lighter RH BTC	+0.0096%	1h	86,487.3	+0.032%	$23.9M	$152.6M	50x	as long as short
Popdex BTCUSDT	+0.0096%	1h	86,455	−0.006%	$8.5M	$52.4M	100x	as long as short
Bybit BTCUSDT	+0.0097%	8h	86,473.7	+0.016%	$5.26B	$9.80B	150x	as long as short
SoDEX BTC-USD	+0.0099%	1h	86,465	+0.006%	$60.5M	$338.2M	40x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	86,430	−0.035%	$199K	$7.1M	50x	as long as short
Paradex BTC-USD-PERP	+0.0100%	8h	86,457.6	−0.003%	$4.8M	$8.5M	50x	as long as short
Nado BTC-PERP	+0.0100%	1h	86,410.7	−0.057%	$21.8M	$234.4M	50x	as long as short
Hyperliquid BTC	+0.0100%	1h	86,534	+0.086%	$3.79B	$5.11B	40x	as long as short
Pacifica BTC	+0.0100%	1h	86,451.6	−0.010%	$41.1M	$535.5M	50x	as long as short
OKX BTC-USDT-SWAP	+0.0100%	8h	86,477	+0.020%	$2.55B	$12.74B	100x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	86,436	−0.028%	$3.9M	$18.6M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	86,483.2	+0.027%	$7.4M	$95.5M	40x	as long as short
Bulk BTC-USD	+0.0100%	1h	86,449	−0.013%	$572.1M	$12.5M	40x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	86,463.3	+0.004%	$38.0M	$157.4M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	86,376.4	−0.097%	$157.0M	$568.3M	—	as long as short
edgeX BTCUSDC	+0.0100%	4h	86,328.2	−0.152%	$278.8M	$946.3M	100x	as long as short
GRVT BTC_USDT_Perp	+0.0100%	8h	86,354.3	−0.122%	$216.8M	$171.7M	50x	as long as short
ApeX Omni BTCUSDT	+0.0100%	1h	86,355.9	−0.120%	$141.2M	$323.0M	100x	as long as short
StandX BTC-USD	+0.0100%	1h	86,411	−0.057%	$30.7M	$205.4M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	86,490.4	+0.035%	—	$11.9M	50x	as long as short
Polymarket Perps BTC-USDlong	+0.0100%	1h	86,460	long leg	$11.1M	$13.9M	50x
Bullet BTC-USD	+0.0100%	1h	86,462	+0.002%	$189K	$3.3M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	86,459	−0.001%	$2.4M	$9.4M	100x	as long as short
Bluefin BTC-PERP	+0.0100%	1h	86,498.6	+0.045%	$140K	$663K	40x	as long as short
Derive BTC-PERP	+0.0100%	1h	86,493.7	+0.039%	$30.5M	$62.6M	15x	as long as short
SunX BTC-USDT	+0.0100%	8h	86,402.3	−0.067%	$3.4M	$5.3M	100x	as long as short
HTX BTC-USDT	+0.0100%	8h	86,436.5	−0.027%	$2.29B	$968.3M	200x	as long as short
Extended BTC-USD	+0.0104%	1h	86,459.4	−0.001%	$45.5M	$227.5M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0048%	1h	86,418.6	−0.048%	—	$99.1M	500x	as long as short
Deribit BTC-PERPETUAL	+0.0106%	1h	86,506.1	+0.053%	$913.7M	$1.48B	50x	as long as short
Kraken Futures PF_XBTUSD	+0.0110%	1h	86,497.9	+0.044%	$191.9M	$953.4M	100x	as long as short
Coinbase International BTC-PERP-INTX	+0.0112%	1h	86,509.5	+0.057%	$132.3M	$5.65B	50x	as long as short
Aftermath Perps BTCUSD	+0.0154%	1h	86,441.8	−0.021%	$78K	$219K	20x	as long as short
Hibachi BTC/USDT-P	+0.0176%	1h	86,433.7	−0.030%	$728K	$8.0M	30x	as long as short
BloFin BTC-USDT	+0.0190%	8h	86,444.8	−0.018%	$416.1M	$658.6M	150x	as long as short
GMX BTC/USD [WBTC.b-USDC]short	L +0.0197% / S −0.0220%	1h	86,476.3	+0.019%	$15.0M	—	200x
Kalshi KXBTCPERP	+0.0206%	8h	86,457	−0.003%	$9.9M	$749.0M	6.4x	as long as short