Funding you earn now, next payment 19:00 UTC−0.0221%/8hpaid last 24h −0.011%
Price spread now: Phoenix against Variational Omni+0.062%84s7-day average +0.063% · 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)−0.094%−$9 on $10k
+Price spread, last 7 days+0.005%$0 · spread now +0.062%, 7d avg +0.063%
=Together, before fees−0.090%+ Points / potential airdropVariational Omni: Active · farm board−$9 on $10k · with fees, hour by hour
The price spread sits at its 7-day average of +0.063%, so right now this pair is about funding alone: −$7 a day on $10k at the current rate. The two prices were read 84 seconds apart, so part of this spread may be the market moving, not a spread.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Variational Omni BTC | 86,459 | 0.0089 | pay 0.0089% / 8h | 4h 06m | $163.4M | $537.2M | — |
| Short | Phoenix BTC | 86,513 | −0.0132 | pay 0.0017% / 1h | 6m 02s | $2.1M | $11.1M | 40x |
Variational Omni BTC
Phoenix BTCFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phoenix against Variational Omni. 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
- −$46.45
- Price spread: +0.062% → +0.063%
- −$0.09
- Slippage, 4 orders
- no order book: not counted
- Fee Variational Omni: 0 bp × 2 orders
- $0
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- −$53.54
- Costs to cover
- 0.070%
- Break-even
- never at this rate
Slippage unknown: Variational Omni: RFQ quote, 3 min ago; Phoenix: live order book, 2 min ago. 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 Variational Omni RFQ quote, 3 min ago | 0.50 bp | doesn't fit | 0.5 bp −$5 | 1.3 bp −$128 | doesn't fit |
| Sell Phoenix live order book, 2 min ago | 0.06 bp | 3.7 bp −$4 | 6.0 bp −$60 | 11.8 bp −$1,181 | doesn't fit |
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 BTCshort | −0.0132% | 1h | 86,513 | +0.062% | $2.1M | $11.1M | 40x | |
| Perpl BTC | −0.0112% | 43m | 86,474.6 | +0.018% | $410K | $25.9M | 6.7x | as long as short |
| BloFin BTC-USDT | −0.0082% | 8h | 86,503.8 | +0.052% | $422.7M | $595.4M | 150x | as long as short |
| Hotstuff BTC-PERP | −0.0080% | 1h | 86,489 | +0.035% | $9K | $4K | 50x | as long as short |
| Aftermath Perps BTCUSD | −0.0046% | 1h | 86,527.5 | +0.079% | $85K | $166K | 20x | as long as short |
| Kraken Futures PF_XBTUSD | −0.0030% | 1h | 86,496.3 | +0.043% | $184.5M | $860.3M | 100x | as long as short |
| 01 Exchange BTCUSD | −0.0024% | 1h | 86,510.6 | +0.060% | $303K | $2.4M | 50x | as long as short |
| dYdX BTC-USD | −0.0014% | 1h | 86,517 | +0.067% | $17.3M | $18.2M | 50x | as long as short |
| KuCoin XBTUSDTM | −0.0010% | 8h | 86,462 | +0.003% | $823.0M | $665.8M | 125x | as long as short |
| Kalshi KXBTCPERP | 0.0000% | 8h | 86,518 | +0.068% | $8.8M | $694.5M | 6.4x | as long as short |
Perpl BTC
BloFin BTC-USDT
Hotstuff BTC-PERP
Aftermath Perps BTCUSD
Kraken Futures PF_XBTUSD
01 Exchange BTCUSD
dYdX BTC-USD
KuCoin XBTUSDTM
Kalshi KXBTCPERPShow all 56 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Injective BTC/USDC PERP | 0.0000% | 1h | 86,572 | +0.131% | $327K | $27.0M | 52x | as long as short |
| Reya BTCRUSDPERP | +0.0004% | 1h | 86,488.6 | +0.034% | $6.7M | $139.9M | 40x | as long as short |
| gTrade (Gains Network) BTC/USD | L +0.0004% / S −0.0004% | 1h | 86,509.2 | +0.058% | $37.1M | — | 200x | as long as short |
| BingX BTC-USDT | +0.0006% | 8h | 86,456.8 | −0.003% | — | $1.46B | — | as long as short |
| SoDEX BTC-USD | +0.0008% | 1h | 86,449 | −0.012% | $61.0M | $311.5M | 40x | as long as short |
| Bitget BTCUSDT | +0.0008% | 8h | 86,465.8 | +0.008% | $2.97B | $4.90B | 150x | as long as short |
| Aster BTCUSDT | +0.0021% | 8h | 86,470.1 | +0.013% | $506.3M | $1.12B | 200x | as long as short |
| RISEx BTC/USDC | +0.0027% | 1h | 86,496.6 | +0.043% | $8.9M | $39.7M | 25x | as long as short |
| Phemex BTCUSDT | +0.0035% | 8h | 86,464.6 | +0.006% | $153.4M | $444.3M | 150x | as long as short |
| MEXC BTC_USDT | +0.0037% | 8h | 86,466.8 | +0.009% | $5.13B | $5.35B | 500x | as long as short |
| Binance BTCUSDT | +0.0038% | 8h | 86,459.1 | 0.000% | $9.53B | $23.28B | 150x | as long as short |
| OKX BTC-USDT-SWAP | +0.0039% | 8h | 86,463 | +0.005% | $2.63B | $12.17B | 100x | as long as short |
| Aevo BTC-PERP | +0.0040% | 1h | 86,477.6 | +0.021% | $2.4M | $1.3M | 20x | as long as short |
| ApeX Omni BTCUSDT | +0.0043% | 1h | 86,479.2 | +0.023% | $140.5M | $320.6M | 100x | as long as short |
| Bulk BTC-USD | +0.0062% | 1h | 86,467 | +0.009% | $570.2M | $47.0M | 40x | as long as short |
| HTX BTC-USDT | +0.0066% | 8h | 86,456.3 | −0.003% | $2.30B | $896.2M | 200x | as long as short |
| Bluefin BTC-PERP | +0.0068% | 1h | 86,497.4 | +0.044% | $141K | $505K | 40x | as long as short |
| Gate BTC_USDT | +0.0069% | 8h | 86,462.5 | +0.004% | $5.98B | $10.20B | 200x | as long as short |
| Bybit BTCUSDT | +0.0076% | 8h | 86,467.3 | +0.010% | $5.29B | $9.20B | 150x | as long as short |
| Popdex BTCUSDT | +0.0080% | 1h | 86,487 | +0.032% | $8.5M | $49.9M | 100x | as long as short |
| Orderly PERP_BTC_USDC | +0.0088% | 8h | 86,483.3 | +0.028% | $2.3M | $7.7M | 100x | as long as short |
| Variational Omni BTClong | +0.0089% | 8h | 86,459 | long leg | $163.4M | $537.2M | — | |
| Lighter BTC | +0.0096% | 1h | 86,470.5 | +0.013% | $172.9M | $980.9M | 50x | as long as short |
| Lighter RH BTC | +0.0096% | 1h | 86,469.4 | +0.012% | $24.2M | $146.9M | 50x | as long as short |
| Hibachi BTC/USDT-P | +0.0096% | 1h | 86,542.8 | +0.097% | $615K | $6.8M | 30x | as long as short |
| GRVT BTC_USDT_Perp | +0.0097% | 8h | 86,471.7 | +0.015% | $217.2M | $181.9M | 50x | as long as short |
| Paradex BTC-USD-PERP | +0.0099% | 8h | 86,484.5 | +0.029% | $4.5M | $7.2M | 50x | as long as short |
| Katana Perps BTC-USD | +0.0100% | 8h | 86,498 | +0.045% | $212K | $6.1M | 50x | as long as short |
| Nado BTC-PERP | +0.0100% | 1h | 86,456 | −0.004% | $23.4M | $229.8M | 50x | as long as short |
| Pacifica BTC | +0.0100% | 1h | 86,477.1 | +0.021% | $37.3M | $446.3M | 50x | as long as short |
| Ondo Perps BTC-USD.P | +0.0100% | 1h | 86,503 | +0.051% | $3.9M | $18.4M | 25x | as long as short |
| Arcus BTC-USD | +0.0100% | 1h | 86,518.4 | +0.069% | $6.9M | $92.5M | 40x | as long as short |
| Backpack BTC_USDC_PERP | +0.0100% | 1h | 86,468.8 | +0.011% | $37.6M | $140.1M | 75x | as long as short |
| edgeX BTCUSDC | +0.0100% | 4h | 86,473 | +0.016% | $284.3M | $906.7M | 100x | as long as short |
| StandX BTC-USD | +0.0100% | 1h | 86,505.7 | +0.054% | $30.8M | $208.9M | 40x | as long as short |
| Vest BTC-PERP | +0.0100% | 1h | 86,563 | +0.120% | — | $11.6M | 50x | as long as short |
| Polymarket Perps BTC-USD | +0.0100% | 1h | 86,499 | +0.046% | $11.0M | $13.3M | 50x | as long as short |
| Bullet BTC-USD | +0.0100% | 1h | 86,484 | +0.029% | $237K | $3.4M | 20x | as long as short |
| Derive BTC-PERP | +0.0100% | 1h | 86,479.5 | +0.024% | $30.2M | $60.5M | 15x | as long as short |
| SunX BTC-USDT | +0.0100% | 8h | 86,480.9 | +0.025% | $3.4M | $5.7M | 100x | as long as short |
| Extended BTC-USD | +0.0104% | 1h | 86,458.1 | −0.001% | $47.8M | $218.9M | 50x | as long as short |
| Jupiter Perps WBTC-PERP | L +0.0104% / S +0.0048% | 1h | 86,480.6 | +0.025% | — | $87.3M | 500x | as long as short |
| Hyperliquid BTC | +0.0154% | 1h | 86,571 | +0.130% | $3.99B | $4.76B | 40x | as long as short |
| Coinbase International BTC-PERP-INTX | +0.0168% | 1h | 86,514.2 | +0.064% | $131.6M | $5.89B | 50x | as long as short |
| GMX BTC/USD [WBTC.b-USDC] | L +0.0179% / S −0.0204% | 1h | 86,505.1 | +0.053% | $14.5M | — | 200x | as long as short |
| Deribit BTC-PERPETUAL | +0.0208% | 1h | 86,536.4 | +0.090% | $932.2M | $1.22B | 50x | as long as short |
Injective BTC/USDC PERP
Reya BTCRUSDPERP
gTrade (Gains Network) BTC/USD
BingX BTC-USDT
SoDEX BTC-USD
Bitget BTCUSDT
Aster BTCUSDT
RISEx BTC/USDC
Phemex BTCUSDT
MEXC BTC_USDT
Binance BTCUSDT
OKX BTC-USDT-SWAP
Aevo BTC-PERP
ApeX Omni BTCUSDT
Bulk BTC-USD
HTX BTC-USDT
Bluefin BTC-PERP
Gate BTC_USDT
Bybit BTCUSDT
Popdex BTCUSDT
Orderly PERP_BTC_USDC
Lighter BTC
Lighter RH BTC
Hibachi BTC/USDT-P
GRVT BTC_USDT_Perp
Paradex BTC-USD-PERP
Katana Perps BTC-USD
Nado BTC-PERP
Pacifica BTC
Ondo Perps BTC-USD.P
Arcus BTC-USD
Backpack BTC_USDC_PERP
edgeX BTCUSDC
StandX BTC-USD
Vest BTC-PERP
Polymarket Perps BTC-USD
Bullet BTC-USD
Derive BTC-PERP
SunX BTC-USDT
Extended BTC-USD
Jupiter Perps WBTC-PERP
Hyperliquid BTC
Coinbase International BTC-PERP-INTX
GMX BTC/USD [WBTC.b-USDC]
Deribit BTC-PERPETUAL