Funding you earn now, next payment 03:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.023%
Price spread now: Derive against SoDEX+0.004%7-day average +0.004% · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 3 days (all we have)+0.001%$0 on $10k
+Price spread, last 4 days (all we have)−0.037%−$4 · spread now +0.004%, 7d avg +0.004%
=| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | SoDEX BTC-USD | 85,717 | 0.0100 | pay 0.0013% / 1h | 29m 32s | $60.0M | $336.2M | 40x |
| Short | Derive BTC-PERP | 85,720.4 | 0.0100 | get 0.0013% / 1h | 29m 32s | $30.0M | $50.9M | 15x |
SoDEX BTC-USD
Derive BTC-PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Derive against SoDEX. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- $0
- Price spread: +0.004% → +0.004%
- $0.01
- Slippage, 4 orders
- no order book: not counted
- Fee SoDEX: 4 bp × 2 orders
- −$8
- Fee Derive: 3 bp × 2 orders
- −$6
- Net
- −$13.99
- Costs to cover
- 0.140%
- Break-even
- never at this rate
Slippage unknown: SoDEX: live order book, 5 min ago; Derive: 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 SoDEX live order book, 5 min ago | 0.06 bp | 4.1 bp −$4 | 4.1 bp −$41 | 5.3 bp −$529 | 43.0 bp −$21.5K |
| Sell Derive no order-book sample | — | — | — | — | — |
Derive: 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 | −0.0160% | 1h | 85,662 | −0.064% | $2.2M | $10.3M | 40x | as long as short |
| Hotstuff BTC-PERP | −0.0080% | 1h | 85,741 | +0.028% | $8K | $3K | 50x | as long as short |
| 01 Exchange BTCUSD | −0.0048% | 1h | 85,725.2 | +0.010% | $369K | $2.3M | 50x | as long as short |
| BloFin BTC-USDT | −0.0033% | 8h | 85,805.1 | +0.103% | $417.4M | $665.5M | 150x | as long as short |
| dYdX BTC-USD | 0.0000% | 1h | 85,739.4 | +0.026% | $16.8M | $21.0M | 50x | as long as short |
| gTrade (Gains Network) BTC/USD | L +0.0004% / S −0.0004% | 1h | 85,744.1 | +0.032% | $36.7M | — | 200x | as long as short |
| Nado BTC-PERP | +0.0009% | 1h | 85,750.2 | +0.039% | $22.9M | $220.8M | 50x | as long as short |
| KuCoin XBTUSDTM | +0.0010% | 8h | 85,708.8 | −0.010% | $919.0M | $753.5M | 125x | as long as short |
| Aster BTCUSDT | +0.0021% | 8h | 85,725.3 | +0.010% | $516.5M | $1.11B | 200x | as long as short |
| BingX BTC-USDT | +0.0054% | 8h | 85,730.3 | +0.016% | — | $1.54B | — | as long as short |
Phoenix BTC
Hotstuff BTC-PERP
01 Exchange BTCUSD
BloFin BTC-USDT
dYdX BTC-USD
gTrade (Gains Network) BTC/USD
Nado BTC-PERP
KuCoin XBTUSDTM
Aster BTCUSDT
BingX BTC-USDTShow all 56 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Deribit BTC-PERPETUAL | +0.0059% | 1h | 85,752.4 | +0.041% | $892.4M | $1.53B | 50x | as long as short |
| Bitget BTCUSDT | +0.0068% | 8h | 85,723.7 | +0.008% | $2.95B | $5.03B | 150x | as long as short |
| Reya BTCRUSDPERP | +0.0069% | 1h | 85,728.7 | +0.014% | $6.7M | $146.4M | 40x | as long as short |
| Phemex BTCUSDT | +0.0075% | 8h | 85,707.6 | −0.011% | $148.1M | $479.4M | 150x | as long as short |
| HTX BTC-USDT | +0.0077% | 8h | 85,717.4 | 0.000% | $2.27B | $936.7M | 200x | as long as short |
| Injective BTC/USDC PERP | +0.0079% | 1h | 85,578 | −0.162% | $340K | $26.9M | 52x | as long as short |
| Aevo BTC-PERP | +0.0080% | 1h | 85,712.2 | −0.006% | $2.5M | $1.7M | 20x | as long as short |
| MEXC BTC_USDT | +0.0088% | 8h | 85,719.3 | +0.003% | $5.05B | $5.62B | 500x | as long as short |
| Binance BTCUSDT | +0.0088% | 8h | 85,724 | +0.008% | $9.35B | $23.94B | 150x | as long as short |
| SunX BTC-USDT | +0.0088% | 8h | 85,743 | +0.030% | $2.9M | $6.1M | 100x | as long as short |
| Bluefin BTC-PERP | +0.0096% | 1h | 85,758.1 | +0.048% | $196K | $722K | 40x | as long as short |
| Lighter BTC | +0.0096% | 1h | 85,724.9 | +0.009% | $170.3M | $991.6M | 50x | as long as short |
| Lighter RH BTC | +0.0096% | 1h | 85,731.1 | +0.016% | $23.9M | $148.4M | 50x | as long as short |
| Popdex BTCUSDT | +0.0096% | 1h | 85,725 | +0.009% | $8.4M | $52.0M | 100x | as long as short |
| Paradex BTC-USD-PERP | +0.0100% | 8h | 85,769.2 | +0.061% | $3.8M | $8.2M | 50x | as long as short |
| Katana Perps BTC-USD | +0.0100% | 8h | 85,697 | −0.023% | $198K | $7.8M | 50x | as long as short |
| Hyperliquid BTC | +0.0100% | 1h | 85,789 | +0.084% | $3.74B | $5.00B | 40x | as long as short |
| Pacifica BTC | +0.0100% | 1h | 85,756.7 | +0.046% | $40.2M | $574.8M | 50x | as long as short |
| Bybit BTCUSDT | +0.0100% | 8h | 85,735.4 | +0.021% | $5.34B | $9.60B | 150x | as long as short |
| OKX BTC-USDT-SWAP | +0.0100% | 8h | 85,743.1 | +0.030% | $2.57B | $12.14B | 100x | as long as short |
| Ondo Perps BTC-USD.P | +0.0100% | 1h | 85,729 | +0.014% | $3.9M | $18.0M | 25x | as long as short |
| Arcus BTC-USD | +0.0100% | 1h | 85,690.6 | −0.031% | $7.1M | $97.2M | 40x | as long as short |
| Gate BTC_USDT | +0.0100% | 8h | 85,734.1 | +0.020% | $5.55B | $10.52B | 200x | as long as short |
| Backpack BTC_USDC_PERP | +0.0100% | 1h | 85,701.4 | −0.018% | $35.3M | $172.3M | 75x | as long as short |
| Variational Omni BTC | +0.0100% | 8h | 85,767.3 | +0.059% | $156.3M | $548.9M | — | as long as short |
| edgeX BTCUSDC | +0.0100% | 4h | 85,658.9 | −0.068% | $279.6M | $930.8M | 100x | as long as short |
| GRVT BTC_USDT_Perp | +0.0100% | 8h | 85,774.1 | +0.067% | $215.4M | $166.6M | 50x | as long as short |
| ApeX Omni BTCUSDT | +0.0100% | 1h | 85,800 | +0.097% | $140.4M | $316.0M | 100x | as long as short |
| StandX BTC-USD | +0.0100% | 1h | 85,774.2 | +0.067% | $30.3M | $210.2M | 40x | as long as short |
| Vest BTC-PERP | +0.0100% | 1h | 85,803.5 | +0.101% | — | $11.8M | 50x | as long as short |
| Polymarket Perps BTC-USD | +0.0100% | 1h | 85,741 | +0.028% | $11.0M | $14.1M | 50x | as long as short |
| Bullet BTC-USD | +0.0100% | 1h | 85,743.3 | +0.031% | $189K | $3.3M | 20x | as long as short |
| Orderly PERP_BTC_USDC | +0.0100% | 8h | 85,726.1 | +0.011% | $2.3M | $8.8M | 100x | as long as short |
| Derive BTC-PERPshort | +0.0100% | 1h | 85,720.4 | +0.004% | $30.0M | $50.9M | 15x | |
| SoDEX BTC-USDlong | +0.0100% | 1h | 85,717 | long leg | $60.0M | $336.2M | 40x | |
| Bulk BTC-USD | +0.0100% | 1h | 85,614.4 | −0.120% | $621.3M | $398.6M | 40x | as long as short |
| Extended BTC-USD | +0.0104% | 1h | 85,699.5 | −0.020% | $44.1M | $227.7M | 50x | as long as short |
| Jupiter Perps WBTC-PERP | L +0.0104% / S +0.0056% | 1h | 85,814.3 | +0.114% | — | $106.1M | 500x | as long as short |
| Coinbase International BTC-PERP-INTX | +0.0112% | 1h | 85,751.6 | +0.040% | $130.6M | $5.12B | 50x | as long as short |
| RISEx BTC/USDC | +0.0120% | 1h | 85,749.4 | +0.038% | $8.4M | $42.3M | 25x | as long as short |
| Kraken Futures PF_XBTUSD | +0.0138% | 1h | 85,728.8 | +0.014% | $189.1M | $952.3M | 100x | as long as short |
| Aftermath Perps BTCUSD | +0.0195% | 1h | 85,692.2 | −0.029% | $78K | $219K | 20x | as long as short |
| GMX BTC/USD [WBTC.b-USDC] | L +0.0203% / S −0.0179% | 1h | 85,742 | +0.029% | $13.6M | — | 200x | as long as short |
| Hibachi BTC/USDT-P | +0.0208% | 1h | 85,809.1 | +0.107% | $702K | $7.8M | 30x | as long as short |
| Kalshi KXBTCPERP | +0.0216% | 8h | 85,796 | +0.092% | $10.4M | $760.7M | 6.4x | as long as short |
| Perpl BTC | +0.0447% | 43m | 85,783.6 | +0.078% | $517K | $19.4M | 6.7x | as long as short |
Deribit BTC-PERPETUAL
Bitget BTCUSDT
Reya BTCRUSDPERP
Phemex BTCUSDT
HTX BTC-USDT
Injective BTC/USDC PERP
Aevo BTC-PERP
MEXC BTC_USDT
Binance BTCUSDT
SunX BTC-USDT
Bluefin BTC-PERP
Lighter BTC
Lighter RH BTC
Popdex BTCUSDT
Paradex BTC-USD-PERP
Katana Perps BTC-USD
Hyperliquid BTC
Pacifica BTC
Bybit BTCUSDT
OKX BTC-USDT-SWAP
Ondo Perps BTC-USD.P
Arcus BTC-USD
Gate BTC_USDT
Backpack BTC_USDC_PERP
Variational Omni BTC
edgeX BTCUSDC
GRVT BTC_USDT_Perp
ApeX Omni BTCUSDT
StandX BTC-USD
Vest BTC-PERP
Polymarket Perps BTC-USD
Bullet BTC-USD
Orderly PERP_BTC_USDC
Bulk BTC-USD
Extended BTC-USD
Jupiter Perps WBTC-PERP
Coinbase International BTC-PERP-INTX
RISEx BTC/USDC
Kraken Futures PF_XBTUSD
Aftermath Perps BTCUSD
GMX BTC/USD [WBTC.b-USDC]
Hibachi BTC/USDT-P
Kalshi KXBTCPERP
Perpl BTC