BTC

Alert

Funding spread now, next payment 15:00 UTC0.0000%/8h

paid, last 24h−0.021%paid, last 3 days−0.051%to open and closeno order book

Long on Variational Omni Short on Backpack

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni BTC	85,434.7	0.0100	pay 0.0100% / 8h	1h 53m	$172.6M	$465.7M	—
Short	Backpack BTC_USDC_PERP	85,129	0.0100	get 0.0013% / 1h	53m 05s	$38.8M	$101.8M	75x

Funding history

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Funding on every exchange

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Profit calculator

Position, each leg$Hold fordaysFee Variational OmnibpFee BackpackbpOrdersRate

Funding earned: $0
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Backpack: 5 bp × 2 orders: −$10
Net: −$10
Break-even: never at this rate

Slippage unknown: Variational Omni: RFQ quote, 3 min ago; Backpack: live order book, 3 min ago. Net counts fees only.

Price risk

price view

Price gap now: −0.358%
Avg gap 7d: −0.018%

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 Variational Omni RFQ quote, 3 min ago	0.56 bp	doesn't fit	0.9 bp −$9	3.9 bp −$387	doesn't fit
Sell Backpack live order book, 3 min ago	0.01 bp	5.0 bp −$5	5.0 bp −$50	6.5 bp −$655	16.5 bp −$8,249

BTC on 55 venues

lowest funding first. Swap a leg.

Exchange	Funding /8h	Every	OI	Vol 24h	Max lev
Perpl BTC	−0.0447%	43m	$422K	$31.5M	6.7x	as long as short
edgeX BTCUSDC	−0.0113%	4h	$282.5M	$785.1M	100x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	$8K	$3K	50x	as long as short
Reya BTCRUSDPERP	−0.0036%	1h	$6.8M	$135.6M	40x	as long as short
Aftermath Perps BTCUSD	−0.0035%	1h	$83K	$139K	20x	as long as short
01 Exchange BTCUSD	−0.0032%	1h	$278K	$2.3M	50x	as long as short
Gate BTC_USDT	−0.0021%	8h	$5.99B	$8.38B	200x	as long as short
Phemex BTCUSDT	−0.0016%	8h	$158.6M	$370.1M	150x	as long as short
BingX BTC-USDC	−0.0012%	8h	—	$14.4M	—	as long as short
Bitget BTCUSDT	−0.0011%	8h	$2.94B	$4.25B	150x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	OI	Vol 24h	Max lev
dYdX BTC-USD	0.0000%	1h	$16.0M	$13.7M	50x	as long as short
Kalshi KXBTCPERP	0.0000%	8h	$8.1M	$490.8M	6.4x	as long as short
ApeX Omni BTCUSDT	+0.0004%	1h	$137.5M	$315.5M	100x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0004% / S −0.0004%	1h	$36.4M	—	200x	as long as short
Derive BTC-PERP	+0.0009%	1h	$27.7M	$55.0M	15x	as long as short
Phoenix BTC	+0.0015%	1h	$1.6M	$10.8M	40x	as long as short
SoDEX BTC-USD	+0.0018%	1h	$61.0M	$234.4M	40x	as long as short
HTX BTC-USDT	+0.0021%	8h	$2.28B	$775.1M	200x	as long as short
Lighter BTC	+0.0024%	1h	$182.0M	$841.8M	50x	as long as short
Aster BTCUSDT	+0.0038%	8h	$485.2M	$976.3M	200x	as long as short
Kraken Futures PF_XBTUSD	+0.0043%	1h	$185.1M	$743.9M	100x	as long as short
OKX BTC-USDT-SWAP	+0.0058%	8h	$2.55B	$10.58B	100x	as long as short
KuCoin XBTUSDTM	+0.0067%	8h	$798.4M	$574.6M	125x	as long as short
Paradex BTC-USD-PERP	+0.0084%	8h	$4.3M	$6.6M	50x	as long as short
Popdex BTCUSDT	+0.0088%	1h	$8.3M	$39.9M	100x	as long as short
Binance BTCUSDT	+0.0096%	8h	$9.48B	$19.31B	150x	as long as short
Lighter RH BTC	+0.0096%	1h	$25.2M	$129.9M	50x	as long as short
MEXC BTC_USDT	+0.0096%	8h	$4.91B	$4.60B	500x	as long as short
Aevo BTC-PERP	+0.0096%	1h	$2.4M	$1.7M	20x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	$202K	$4.9M	50x	as long as short
Nado BTC-PERP	+0.0100%	1h	$23.7M	$220.0M	50x	as long as short
Pacifica BTC	+0.0100%	1h	$36.2M	$310.2M	50x	as long as short
Bybit BTCUSDT	+0.0100%	8h	$5.02B	$7.77B	150x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	$3.9M	$15.5M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	$6.1M	$76.9M	40x	as long as short
Bulk BTC-USD	+0.0100%	1h	$534.4M	$59.0M	40x	as long as short
Backpack BTC_USDC_PERPshort	+0.0100%	1h	$38.8M	$101.8M	75x
Variational Omni BTClong	+0.0100%	8h	$172.6M	$465.7M	—
StandX BTC-USD	+0.0100%	1h	$30.4M	$247.0M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	—	$13.1M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	$10.7M	$10.4M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	$248K	$3.3M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	$2.3M	$6.6M	100x	as long as short
Bluefin BTC-PERP	+0.0100%	1h	$142K	$399K	40x	as long as short
SunX BTC-USDT	+0.0100%	8h	$3.3M	$5.3M	100x	as long as short
Extended BTC-USD	+0.0104%	1h	$47.0M	$199.0M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0048%	1h	—	$85.0M	500x	as long as short
Coinbase International BTC-PERP-INTX	+0.0112%	1h	$141.6M	$6.06B	50x	as long as short
Hyperliquid BTC	+0.0131%	1h	$3.80B	$4.04B	40x	as long as short
RISEx BTC/USDC	+0.0178%	1h	$8.5M	$36.5M	25x	as long as short
Injective BTC/USDC PERP	+0.0180%	1h	$306K	$27.0M	52x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0195% / S −0.0202%	1h	$12.8M	—	200x	as long as short
BloFin BTC-USDT	+0.0215%	8h	$419.7M	$476.3M	150x	as long as short
Hibachi BTC/USDT-P	+0.0216%	1h	$634K	$7.6M	30x	as long as short
Deribit BTC-PERPETUAL	+0.0455%	1h	$847.0M	$913.8M	50x	as long as short