BTC

Alert

Funding spread now, next payment 19:00 UTC+0.0060%/8h

next payment, per $10,000+$0.08paid, last 24h+0.013%paid, last 3 days+0.119%to open and close $10k−$9

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SoDEX BTC-USD	85,883	0.0036	pay 0.0004% / 1h	50m 45s	$60.9M	$284.7M	40x
Short	Lighter BTC	85,889.5	0.0096	get 0.0012% / 1h	50m 45s	$172.0M	$942.9M	50x

Funding history

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Funding on every exchange

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Profit calculator

Position, each leg$Hold fordaysFee SoDEXbpFee LighterbpOrdersRate

Funding earned: $12.68
Slippage, 4 orders: −$0.77
Fee SoDEX: 4 bp × 2 orders: −$8
Fee Lighter: 0 bp × 2 orders: $0
Net: $3.91
Break-even: 4.8 days

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

Price risk

price view

Price gap now: +0.008%
Avg gap 7d: +0.021%

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, 5 min ago	0.06 bp	4.1 bp −$4	4.1 bp −$41	5.7 bp −$569	42.7 bp −$21.3K
Sell Lighter live order book, 5 min ago	0.02 bp	0.6 bp −$1	0.8 bp −$8	1.6 bp −$159	3.9 bp −$1,951

BTC on 55 venues

lowest funding first. Swap a leg.

Exchange	Funding /8h	Every	OI	Vol 24h	Max lev
Perpl BTC	−0.0447%	43m	$404K	$26.3M	6.7x	as long as short
Arcus BTC-USD	−0.0299%	1h	$6.7M	$85.1M	40x	as long as short
BloFin BTC-USDT	−0.0090%	8h	$422.0M	$566.9M	150x	as long as short
Phoenix BTC	−0.0082%	1h	$1.9M	$11.0M	40x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	$9K	$4K	50x	as long as short
01 Exchange BTCUSD	−0.0040%	1h	$310K	$2.4M	50x	as long as short
Kraken Futures PF_XBTUSD	−0.0019%	1h	$188.0M	$815.8M	100x	as long as short
Reya BTCRUSDPERP	−0.0017%	1h	$6.7M	$138.3M	40x	as long as short
Phemex BTCUSDT	−0.0016%	8h	$148.0M	$421.8M	150x	as long as short
KuCoin XBTUSDTM	−0.0007%	8h	$804.3M	$618.8M	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	−0.0002%	1h	$17.2M	$18.1M	50x	as long as short
Bitget BTCUSDT	−0.0001%	8h	$2.96B	$4.67B	150x	as long as short
BingX BTC-USDT	−0.0001%	8h	—	$1.37B	—	as long as short
Kalshi KXBTCPERP	0.0000%	8h	$12.0M	$648.9M	6.4x	as long as short
Bulk BTC-USD	+0.0002%	1h	$562.2M	$127.9M	40x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0005% / S −0.0004%	1h	$36.8M	—	200x	as long as short
Aster BTCUSDT	+0.0018%	8h	$504.9M	$1.09B	200x	as long as short
OKX BTC-USDT-SWAP	+0.0021%	8h	$2.66B	$11.56B	100x	as long as short
Bybit BTCUSDT	+0.0026%	8h	$5.27B	$8.63B	150x	as long as short
MEXC BTC_USDT	+0.0029%	8h	$5.16B	$5.07B	500x	as long as short
Binance BTCUSDT	+0.0030%	8h	$9.47B	$22.02B	150x	as long as short
RISEx BTC/USDC	+0.0031%	1h	$9.0M	$38.5M	25x	as long as short
Aevo BTC-PERP	+0.0032%	1h	$2.4M	$1.3M	20x	as long as short
ApeX Omni BTCUSDT	+0.0033%	1h	$139.7M	$319.7M	100x	as long as short
Gate BTC_USDT	+0.0035%	8h	$6.05B	$9.57B	200x	as long as short
Aftermath Perps BTCUSD	+0.0035%	1h	$86K	$152K	20x	as long as short
SoDEX BTC-USDlong	+0.0036%	1h	$60.9M	$284.7M	40x
Variational Omni BTC	+0.0068%	8h	$170.5M	$505.8M	—	as long as short
Popdex BTCUSDT	+0.0072%	1h	$8.5M	$46.4M	100x	as long as short
Extended BTC-USD	+0.0080%	1h	$48.5M	$199.4M	50x	as long as short
Lighter BTCshort	+0.0096%	1h	$172.0M	$942.9M	50x
Lighter RH BTC	+0.0096%	1h	$24.5M	$137.2M	50x	as long as short
Paradex BTC-USD-PERP	+0.0098%	8h	$4.4M	$6.8M	50x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	$188K	$5.8M	50x	as long as short
Nado BTC-PERP	+0.0100%	1h	$23.0M	$226.8M	50x	as long as short
Pacifica BTC	+0.0100%	1h	$36.6M	$407.0M	50x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	$4.1M	$17.2M	25x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	$37.6M	$132.0M	75x	as long as short
edgeX BTCUSDC	+0.0100%	4h	$280.6M	$882.7M	100x	as long as short
StandX BTC-USD	+0.0100%	1h	$30.7M	$216.3M	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	$12.0M	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	$144K	$411K	40x	as long as short
Derive BTC-PERP	+0.0100%	1h	$30.4M	$58.8M	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	$2.29B	$843.9M	200x	as long as short
Hibachi BTC/USDT-P	+0.0104%	1h	$754K	$6.6M	30x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0048%	1h	—	$83.8M	500x	as long as short
Deribit BTC-PERPETUAL	+0.0152%	1h	$916.1M	$1.10B	50x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0172% / S −0.0153%	1h	$12.7M	—	200x	as long as short
Hyperliquid BTC	+0.0183%	1h	$3.96B	$4.45B	40x	as long as short
Coinbase International BTC-PERP-INTX	+0.0200%	1h	$129.0M	$5.85B	50x	as long as short