BTC

Alert

Funding spread now, next payment 18:00 UTC−0.2095%/8h

next payment, per $10,000−$2.62paid, last 24h−0.162%paid, last 3 days−0.170%to open and close $10k−$20

The current rate is far above what this pair has been paying: over the last 3 days it paid -0.170% in total (about -21.4% a year). A funding rate is set anew for every payment; at this rate the next one is about −$2.62 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	SoDEX BTC-USD	85,871	−0.0022	get 0.0003% / 1h	29m 33s	$60.9M	$284.2M	40x
Short	Bluefin BTC-PERP	85,924	−0.2117	pay 0.0265% / 1h	29m 33s	$143K	$411K	40x

Funding history

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Funding on every exchange

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Profit calculator

Position, each leg$Hold fordaysFee SoDEXbpFee BluefinbpOrdersRate

Funding earned: −$439.87
Slippage, 4 orders: −$5.42
Fee SoDEX: 4 bp × 2 orders: −$8
Fee Bluefin: 3.5 bp × 2 orders: −$7
Net: −$460.29
Break-even: never at this rate

Slippage from SoDEX: live order book, 1 min ago; Bluefin: live order book, 11 min ago.

Price risk

price view

Price gap now: +0.062%
Avg gap 7d: −0.020%

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 SoDEX live order book, 1 min ago	0.06 bp	4.1 bp −$4	4.1 bp −$41	4.8 bp −$475	36.9 bp −$18.4K
Sell Bluefin live order book, 11 min ago	0.88 bp	6.3 bp −$6	11.2 bp −$112	doesn't fit	doesn't fit

BTC on 55 venues

lowest funding first. Swap a leg.

Exchange	Funding /8h	Every	OI	Vol 24h	Max lev
Bluefin BTC-PERPshort	−0.2117%	1h	$143K	$411K	40x
Arcus BTC-USD	−0.0377%	1h	$6.8M	$85.1M	40x	as long as short
Perpl BTC	−0.0223%	43m	$406K	$26.8M	6.7x	as long as short
Phoenix BTC	−0.0096%	1h	$1.9M	$11.0M	40x	as long as short
BloFin BTC-USDT	−0.0094%	8h	$424.7M	$566.7M	150x	as long as short
ApeX Omni BTCUSDT	−0.0094%	1h	$139.2M	$319.1M	100x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	$9K	$4K	50x	as long as short
Kraken Futures PF_XBTUSD	−0.0073%	1h	$190.5M	$813.8M	100x	as long as short
01 Exchange BTCUSD	−0.0048%	1h	$302K	$2.4M	50x	as long as short
dYdX BTC-USD	−0.0028%	1h	$17.1M	$18.1M	50x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	OI	Vol 24h	Max lev
SoDEX BTC-USDlong	−0.0022%	1h	$60.9M	$284.2M	40x
Phemex BTCUSDT	−0.0020%	8h	$148.4M	$415.7M	150x	as long as short
Bulk BTC-USD	−0.0019%	1h	$560.6M	$139.0M	40x	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
Bitget BTCUSDT	−0.0005%	8h	$2.96B	$4.68B	150x	as long as short
BingX BTC-USDC	−0.0005%	8h	—	$14.7M	—	as long as short
Gate BTC_USDT	−0.0001%	8h	$6.07B	$9.56B	200x	as long as short
KuCoin XBTUSDTM	0.0000%	8h	$797.5M	$614.9M	125x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0005% / S −0.0004%	1h	$36.7M	—	200x	as long as short
OKX BTC-USDT-SWAP	+0.0013%	8h	$2.66B	$11.55B	100x	as long as short
Aster BTCUSDT	+0.0014%	8h	$504.6M	$1.10B	200x	as long as short
Bybit BTCUSDT	+0.0015%	8h	$5.24B	$8.58B	150x	as long as short
Extended BTC-USD	+0.0016%	1h	$48.7M	$199.6M	50x	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	$5.17B	$5.13B	500x	as long as short
Binance BTCUSDT	+0.0026%	8h	$9.47B	$22.08B	150x	as long as short
Popdex BTCUSDT	+0.0040%	1h	$8.5M	$46.5M	100x	as long as short
RISEx BTC/USDC	+0.0040%	1h	$9.2M	$38.6M	25x	as long as short
StandX BTC-USD	+0.0064%	1h	$30.7M	$225.5M	40x	as long as short
Variational Omni BTC	+0.0065%	8h	$171.9M	$505.5M	—	as long as short
Aftermath Perps BTCUSD	+0.0079%	1h	$86K	$154K	20x	as long as short
Bullet BTC-USD	+0.0092%	1h	$229K	$3.3M	20x	as long as short
Paradex BTC-USD-PERP	+0.0096%	8h	$4.4M	$6.8M	50x	as long as short
Lighter BTC	+0.0096%	1h	$171.5M	$941.7M	50x	as long as short
Lighter RH BTC	+0.0096%	1h	$24.7M	$136.5M	50x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	$189K	$5.7M	50x	as long as short
Nado BTC-PERP	+0.0100%	1h	$23.2M	$227.2M	50x	as long as short
Pacifica BTC	+0.0100%	1h	$36.6M	$397.9M	50x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	$4.0M	$16.7M	25x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	$37.2M	$125.8M	75x	as long as short
edgeX BTCUSDC	+0.0100%	4h	$280.2M	$882.2M	100x	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	$11.7M	50x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	$2.4M	$7.4M	100x	as long as short
Derive BTC-PERP	+0.0100%	1h	$30.4M	$59.6M	15x	as long as short
SunX BTC-USDT	+0.0100%	8h	$3.3M	$5.8M	100x	as long as short
HTX BTC-USDT	+0.0100%	8h	$2.29B	$833.2M	200x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0048%	1h	—	$84.7M	500x	as long as short
Kalshi KXBTCPERP	+0.0105%	8h	$13.3M	$632.5M	6.4x	as long as short
Deribit BTC-PERPETUAL	+0.0107%	1h	$915.1M	$1.11B	50x	as long as short
Hibachi BTC/USDT-P	+0.0112%	1h	$752K	$7.2M	30x	as long as short
Hyperliquid BTC	+0.0139%	1h	$3.92B	$4.40B	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	+0.0184%	1h	$128.5M	$5.92B	50x	as long as short