BTC

Alert

Funding spread now, next payment 15:00 UTC−0.1990%/8h

paid, last 24h−0.094%paid, last 3 days−0.108%to open and closeno order book

Long on Variational Omni Short on Bluefin

The current rate is far above what this pair has been paying: over the last 3 days it paid -0.108% in total (about -13.5% a year). A funding rate is set anew for every payment. 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	Variational Omni BTC	85,162.2	0.0100	pay 0.0100% / 8h	1h 46m	$171.1M	$466.0M	—
Short	Bluefin BTC-PERP	85,264.6	−0.1890	pay 0.0236% / 1h	46m 25s	$142K	$400K	40x

Funding history

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Funding on every exchange

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Profit calculator

Position, each leg$Hold fordaysFee Variational OmnibpFee BluefinbpOrdersRate

Funding earned: −$417.97
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Bluefin: 3.5 bp × 2 orders: −$7
Net: −$424.97
Break-even: never at this rate

Slippage unknown: Variational Omni: RFQ quote, 4 min ago; Bluefin: live order book, 9 min ago. Net counts fees only.

Price risk

price view

Price gap now: +0.120%
Avg gap 7d: −0.010%

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, 4 min ago	0.50 bp	doesn't fit	0.5 bp −$5	2.1 bp −$213	doesn't fit
Sell Bluefin live order book, 9 min ago	2.50 bp	7.4 bp −$7	12.7 bp −$127	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	−0.1890%	1h	$142K	$400K	40x
Perpl BTC	−0.0447%	43m	$430K	$31.4M	6.7x	as long as short
ApeX Omni BTCUSDT	−0.0168%	1h	$137.2M	$315.7M	100x	as long as short
edgeX BTCUSDC	−0.0106%	4h	$281.8M	$791.6M	100x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	$8K	$3K	50x	as long as short
Aftermath Perps BTCUSD	−0.0054%	1h	$83K	$140K	20x	as long as short
01 Exchange BTCUSD	−0.0048%	1h	$279K	$2.3M	50x	as long as short
Reya BTCRUSDPERP	−0.0034%	1h	$6.8M	$136.8M	40x	as long as short
Derive BTC-PERP	−0.0031%	1h	$27.9M	$54.7M	15x	as long as short
Gate BTC_USDT	−0.0018%	8h	$6.01B	$8.47B	200x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	OI	Vol 24h	Max lev
Phemex BTCUSDT	−0.0015%	8h	$157.7M	$372.1M	150x	as long as short
BingX BTC-USDC	−0.0011%	8h	—	$14.4M	—	as long as short
Bitget BTCUSDT	−0.0010%	8h	$2.95B	$4.27B	150x	as long as short
dYdX BTC-USD	0.0000%	1h	$16.1M	$13.8M	50x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0004% / S −0.0004%	1h	$36.4M	—	200x	as long as short
Phoenix BTC	+0.0015%	1h	$1.6M	$10.8M	40x	as long as short
HTX BTC-USDT	+0.0028%	8h	$2.28B	$778.7M	200x	as long as short
Aster BTCUSDT	+0.0041%	8h	$490.6M	$997.1M	200x	as long as short
Kraken Futures PF_XBTUSD	+0.0042%	1h	$186.6M	$747.9M	100x	as long as short
OKX BTC-USDT-SWAP	+0.0057%	8h	$2.55B	$10.64B	100x	as long as short
SoDEX BTC-USD	+0.0060%	1h	$61.1M	$234.5M	40x	as long as short
KuCoin XBTUSDTM	+0.0067%	8h	$800.7M	$575.8M	125x	as long as short
Paradex BTC-USD-PERP	+0.0084%	8h	$4.3M	$6.5M	50x	as long as short
Binance BTCUSDT	+0.0094%	8h	$9.50B	$19.49B	150x	as long as short
MEXC BTC_USDT	+0.0095%	8h	$4.90B	$4.64B	500x	as long as short
Lighter BTC	+0.0096%	1h	$181.2M	$848.6M	50x	as long as short
Lighter RH BTC	+0.0096%	1h	$25.3M	$131.5M	50x	as long as short
Popdex BTCUSDT	+0.0096%	1h	$8.4M	$40.4M	100x	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	$205K	$4.9M	50x	as long as short
Nado BTC-PERP	+0.0100%	1h	$23.7M	$221.4M	50x	as long as short
Pacifica BTC	+0.0100%	1h	$36.7M	$312.3M	50x	as long as short
Bybit BTCUSDT	+0.0100%	8h	$5.03B	$7.79B	150x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	$3.9M	$15.6M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	$6.1M	$77.3M	40x	as long as short
Bulk BTC-USD	+0.0100%	1h	$533.0M	$59.2M	40x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	$39.1M	$101.0M	75x	as long as short
Variational Omni BTClong	+0.0100%	8h	$171.1M	$466.0M	—
StandX BTC-USD	+0.0100%	1h	$30.5M	$246.8M	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	$10.8M	$10.5M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	$249K	$3.3M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	$2.4M	$6.7M	100x	as long as short
SunX BTC-USDT	+0.0100%	8h	$3.3M	$5.3M	100x	as long as short
Kalshi KXBTCPERP	+0.0101%	8h	$8.5M	$496.8M	6.4x	as long as short
Extended BTC-USD	+0.0104%	1h	$47.1M	$199.9M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0048%	1h	—	$85.5M	500x	as long as short
Coinbase International BTC-PERP-INTX	+0.0112%	1h	$143.4M	$6.11B	50x	as long as short
Hyperliquid BTC	+0.0113%	1h	$3.84B	$4.09B	40x	as long as short
RISEx BTC/USDC	+0.0178%	1h	$8.7M	$36.7M	25x	as long as short
Injective BTC/USDC PERP	+0.0180%	1h	$306K	$27.0M	52x	as long as short
Hibachi BTC/USDT-P	+0.0184%	1h	$595K	$7.5M	30x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0197% / S −0.0209%	1h	$13.0M	—	200x	as long as short
BloFin BTC-USDT	+0.0215%	8h	$422.6M	$479.1M	150x	as long as short
Deribit BTC-PERPETUAL	+0.0314%	1h	$849.4M	$921.6M	50x	as long as short