BTC

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0119%/8h= +13.0% APRnext payment +$0.15 per $10,000 · paid last 24h +0.020%

Price spread now: GMX against Popdex+0.045%7-day average +0.037% · you sell dearer than you buy

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

Long on Popdex Short on GMX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.063%+$6 on $10k

Price spread, last 3 days (all we have)−0.031%−$3 · spread now +0.045%, 7d avg +0.037%

Together, before fees+0.032%+$3 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.037%, 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	Popdex BTCUSDT	86,637	0.0096	pay 0.0012% / 1h	45m 40s	$8.5M	$52.5M	100x
Short	GMX BTC/USD [WBTC.b-USDC]	86,676.2	L +0.0192% / S −0.0215%	get 0.0027% / 1h	45m 40s	$15.1M	—	200x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

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

latest

Price spreadloading…

Funding on every exchange

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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 PopdexbpFee GMXbpOrdersPrice spread, now +0.045%Rate

Funding earned: $24.99
Price spread: +0.045% → +0.037%: $0.86
Slippage, 4 orders: no order book: not counted
Fee Popdex: 3.2 bp × 2 orders: −$6.4
Fee GMX: 6 bp × 2 orders: −$12
Net: $7.45
Costs to cover: 0.184%
Break-even: 4.9 days

Slippage unknown: Popdex: live order book, 4 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 Popdex live order book, 4 min ago	0.06 bp	3.5 bp −$3	3.6 bp −$36	3.8 bp −$381	5.1 bp −$2,528
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	86,505	−0.152%	$2.2M	$11.8M	40x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	86,636	−0.001%	$9K	$3K	50x	as long as short
Injective BTC/USDC PERP	−0.0035%	1h	86,568	−0.080%	$333K	$26.8M	52x	as long as short
RISEx BTC/USDC	−0.0024%	1h	86,668.6	+0.037%	$8.3M	$42.9M	25x	as long as short
01 Exchange BTCUSD	−0.0024%	1h	86,648.9	+0.014%	$359K	$2.5M	50x	as long as short
Aster BTCUSDT	0.0000%	8h	86,655.4	+0.021%	$502.8M	$1.15B	200x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0005% / S −0.0004%	1h	86,680.7	+0.050%	$36.9M	—	200x	as long as short
KuCoin XBTUSDTM	+0.0011%	8h	86,655.5	+0.021%	$852.1M	$714.8M	125x	as long as short
Deribit BTC-PERPETUAL	+0.0013%	1h	86,700.1	+0.073%	$916.4M	$1.49B	50x	as long as short
Reya BTCRUSDPERP	+0.0026%	1h	86,646.5	+0.011%	$6.7M	$145.4M	40x	as long as short

Show all 56 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
dYdX BTC-USD	+0.0030%	1h	86,677.5	+0.047%	$17.0M	$21.1M	50x	as long as short
Phemex BTCUSDT	+0.0038%	8h	86,663.4	+0.030%	$150.4M	$480.0M	150x	as long as short
BingX BTC-USDC	+0.0042%	8h	86,645.9	+0.010%	—	$15.4M	—	as long as short
Bitget BTCUSDT	+0.0052%	8h	86,660.2	+0.027%	$2.96B	$5.12B	150x	as long as short
MEXC BTC_USDT	+0.0071%	8h	86,659.1	+0.026%	$5.15B	$5.64B	500x	as long as short
Aevo BTC-PERP	+0.0072%	1h	86,685.6	+0.056%	$2.4M	$1.3M	20x	as long as short
Binance BTCUSDT	+0.0073%	8h	86,661.6	+0.028%	$9.44B	$24.56B	150x	as long as short
Gate BTC_USDT	+0.0084%	8h	86,662.3	+0.029%	$5.88B	$10.73B	200x	as long as short
Lighter BTC	+0.0096%	1h	86,673.1	+0.042%	$170.6M	$1.01B	50x	as long as short
Lighter RH BTC	+0.0096%	1h	86,680.4	+0.050%	$24.1M	$151.7M	50x	as long as short
Popdex BTCUSDTlong	+0.0096%	1h	86,637	long leg	$8.5M	$52.5M	100x
Katana Perps BTC-USD	+0.0100%	8h	86,642	+0.006%	$199K	$7.0M	50x	as long as short
Nado BTC-PERP	+0.0100%	1h	86,631.6	−0.006%	$21.8M	$234.7M	50x	as long as short
Paradex BTC-USD-PERP	+0.0100%	8h	86,700.1	+0.073%	$4.8M	$8.5M	50x	as long as short
Hyperliquid BTC	+0.0100%	1h	86,736	+0.114%	$3.80B	$5.11B	40x	as long as short
Pacifica BTC	+0.0100%	1h	86,692	+0.063%	$40.9M	$524.0M	50x	as long as short
Bybit BTCUSDT	+0.0100%	8h	86,665.6	+0.033%	$5.27B	$9.82B	150x	as long as short
OKX BTC-USDT-SWAP	+0.0100%	8h	86,671.2	+0.039%	$2.55B	$12.77B	100x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	86,663	+0.030%	$3.9M	$18.7M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	86,691.9	+0.063%	$7.6M	$95.0M	40x	as long as short
Bulk BTC-USD	+0.0100%	1h	86,560.7	−0.088%	$572.5M	$17.8M	40x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	86,665.2	+0.033%	$38.3M	$155.7M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	86,524.8	−0.129%	$155.3M	$568.2M	—	as long as short
edgeX BTCUSDC	+0.0100%	4h	86,501.6	−0.156%	$279.5M	$946.4M	100x	as long as short
GRVT BTC_USDT_Perp	+0.0100%	8h	86,516.2	−0.139%	$217.3M	$172.2M	50x	as long as short
ApeX Omni BTCUSDT	+0.0100%	1h	86,541.7	−0.110%	$141.4M	$323.6M	100x	as long as short
StandX BTC-USD	+0.0100%	1h	86,574.7	−0.072%	$30.7M	$204.6M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	86,675.9	+0.045%	—	$11.9M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	86,642	+0.006%	$11.1M	$13.8M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	86,660	+0.027%	$190K	$3.3M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	86,663.7	+0.031%	$2.4M	$8.9M	100x	as long as short
Bluefin BTC-PERP	+0.0100%	1h	86,700.6	+0.073%	$141K	$663K	40x	as long as short
Derive BTC-PERP	+0.0100%	1h	86,695.9	+0.068%	$30.6M	$62.5M	15x	as long as short
SunX BTC-USDT	+0.0100%	8h	86,570.9	−0.076%	$3.4M	$5.4M	100x	as long as short
SoDEX BTC-USD	+0.0100%	1h	86,663	+0.030%	$60.6M	$337.6M	40x	as long as short
HTX BTC-USDT	+0.0100%	8h	86,646.8	+0.011%	$2.30B	$969.7M	200x	as long as short
Extended BTC-USD	+0.0104%	1h	86,644.4	+0.009%	$45.4M	$226.9M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0048%	1h	86,680.2	+0.050%	—	$99.4M	500x	as long as short
Kraken Futures PF_XBTUSD	+0.0110%	1h	86,697.5	+0.070%	$193.9M	$951.5M	100x	as long as short
Aftermath Perps BTCUSD	+0.0111%	1h	86,585.2	−0.060%	$79K	$220K	20x	as long as short
Perpl BTC	+0.0112%	43m	86,616.2	−0.024%	$419K	$23.4M	6.7x	as long as short
Coinbase International BTC-PERP-INTX	+0.0112%	1h	86,710.8	+0.085%	$132.9M	$5.69B	50x	as long as short
Hibachi BTC/USDT-P	+0.0184%	1h	86,598.3	−0.045%	$729K	$8.1M	30x	as long as short
BloFin BTC-USDT	+0.0192%	8h	86,589.3	−0.055%	$414.8M	$658.8M	150x	as long as short
GMX BTC/USD [WBTC.b-USDC]short	L +0.0192% / S −0.0215%	1h	86,676.2	+0.045%	$15.1M	—	200x
Kalshi KXBTCPERP	+0.0206%	8h	86,674	+0.043%	$9.8M	$742.3M	6.4x	as long as short