BTC

Alert

Funding spread now, next payment 16:00 UTC+0.0097%/8h

paid, last 24h+0.023%paid, last 3 days+0.071%to open and closeno order book

Long on Variational Omni Short on Deribit

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni BTC	86,057	0.0100	pay 0.0100% / 8h	5m 32s	$171.9M	$512.6M	—
Short	Deribit BTC-PERPETUAL	86,104	0.0197	get 0.0025% / 1h	5m 32s	$910.7M	$1.11B	50x

Funding history

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Funding on every exchange

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Profit calculator

Position, each leg$Hold fordaysFee Variational OmnibpFee DeribitbpOrdersRate

Funding earned: $20.35
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: $13.35
Break-even: 2.4 days

Slippage unknown: Variational Omni: RFQ quote, 5 min ago; Deribit: live order book, 5 min ago. Net counts fees only.

Price risk

price view

Price gap now: +0.055%
Avg gap 7d: +0.064%

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, 5 min ago	0.50 bp	doesn't fit	0.5 bp −$5	1.1 bp −$109	doesn't fit
Sell Deribit live order book, 5 min ago	0.03 bp	3.5 bp −$4	3.5 bp −$35	5.8 bp −$585	13.7 bp −$6,857

BTC on 55 venues

lowest funding first. Swap a leg.

Exchange	Funding /8h	Every	OI	Vol 24h	Max lev
ApeX Omni BTCUSDT	−0.0125%	1h	$139.1M	$318.3M	100x	as long as short
Bluefin BTC-PERP	−0.0114%	1h	$143K	$407K	40x	as long as short
Perpl BTC	−0.0112%	43m	$411K	$29.6M	6.7x	as long as short
Phoenix BTC	−0.0086%	1h	$1.8M	$10.8M	40x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	$9K	$4K	50x	as long as short
01 Exchange BTCUSD	−0.0064%	1h	$287K	$2.4M	50x	as long as short
BloFin BTC-USDT	−0.0060%	8h	$430.2M	$569.0M	150x	as long as short
Phemex BTCUSDT	−0.0025%	8h	$153.6M	$409.0M	150x	as long as short
Gate BTC_USDT	−0.0021%	8h	$6.11B	$9.60B	200x	as long as short
Reya BTCRUSDPERP	−0.0021%	1h	$6.8M	$137.9M	40x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	OI	Vol 24h	Max lev
SoDEX BTC-USD	−0.0020%	1h	$61.0M	$283.6M	40x	as long as short
Bitget BTCUSDT	−0.0004%	8h	$2.97B	$4.72B	150x	as long as short
BingX BTC-USDT	−0.0003%	8h	—	$1.40B	—	as long as short
dYdX BTC-USD	0.0000%	1h	$17.3M	$17.5M	50x	as long as short
Kalshi KXBTCPERP	0.0000%	8h	$12.5M	$582.6M	6.4x	as long as short
Aftermath Perps BTCUSD	+0.0002%	1h	$87K	$154K	20x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0005% / S −0.0004%	1h	$36.9M	—	200x	as long as short
OKX BTC-USDT-SWAP	+0.0021%	8h	$2.66B	$11.70B	100x	as long as short
KuCoin XBTUSDTM	+0.0026%	8h	$790.7M	$618.1M	125x	as long as short
Aster BTCUSDT	+0.0041%	8h	$487.9M	$1.13B	200x	as long as short
Aevo BTC-PERP	+0.0056%	1h	$2.4M	$1.5M	20x	as long as short
MEXC BTC_USDT	+0.0059%	8h	$5.10B	$5.22B	500x	as long as short
Binance BTCUSDT	+0.0059%	8h	$9.51B	$21.99B	150x	as long as short
HTX BTC-USDT	+0.0069%	8h	$2.29B	$851.8M	200x	as long as short
Kraken Futures PF_XBTUSD	+0.0071%	1h	$186.7M	$822.7M	100x	as long as short
Popdex BTCUSDT	+0.0072%	1h	$8.5M	$45.8M	100x	as long as short
Bybit BTCUSDT	+0.0086%	8h	$5.19B	$8.58B	150x	as long as short
Paradex BTC-USD-PERP	+0.0091%	8h	$4.4M	$6.7M	50x	as long as short
Lighter BTC	+0.0096%	1h	$172.5M	$944.8M	50x	as long as short
Lighter RH BTC	+0.0096%	1h	$24.8M	$141.2M	50x	as long as short
Variational Omni BTClong	+0.0100%	8h	$171.9M	$512.6M	—
Katana Perps BTC-USD	+0.0100%	8h	$191K	$5.5M	50x	as long as short
Nado BTC-PERP	+0.0100%	1h	$23.7M	$230.5M	50x	as long as short
Pacifica BTC	+0.0100%	1h	$36.9M	$357.1M	50x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	$3.9M	$16.4M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	$6.1M	$85.8M	40x	as long as short
Bulk BTC-USD	+0.0100%	1h	$558.9M	$144.9M	40x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	$38.9M	$108.5M	75x	as long as short
edgeX BTCUSDC	+0.0100%	4h	$278.7M	$881.3M	100x	as long as short
StandX BTC-USD	+0.0100%	1h	$30.7M	$230.6M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	—	$12.2M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	$11.0M	$11.7M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	$244K	$3.3M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	$2.4M	$7.3M	100x	as long as short
Derive BTC-PERP	+0.0100%	1h	$30.3M	$59.2M	15x	as long as short
SunX BTC-USDT	+0.0100%	8h	$3.3M	$6.1M	100x	as long as short
Extended BTC-USD	+0.0104%	1h	$48.9M	$209.7M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0048%	1h	—	$89.5M	500x	as long as short
Coinbase International BTC-PERP-INTX	+0.0104%	1h	$151.5M	$6.25B	50x	as long as short
Injective BTC/USDC PERP	+0.0108%	1h	$308K	$27.0M	52x	as long as short
RISEx BTC/USDC	+0.0128%	1h	$8.8M	$38.8M	25x	as long as short
Deribit BTC-PERPETUALshort	+0.0197%	1h	$910.7M	$1.11B	50x
GMX BTC/USD [WBTC.b-USDC]	L +0.0198% / S −0.0175%	1h	$12.6M	—	200x	as long as short
Hibachi BTC/USDT-P	+0.0240%	1h	$695K	$7.4M	30x	as long as short
Hyperliquid BTC	+0.0240%	1h	$3.92B	$4.50B	40x	as long as short