Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.011%
Price spread now: Derive against Vest−0.097%50s7-day average −0.014% · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 3 days (all we have)+0.009%+$1 on $10k
+Price spread, last 4 days (all we have)+0.036%+$4 · spread now −0.097%, 7d avg −0.014%
=Together, before fees+0.046%+ Points / potential airdropVest: Active · farm board+$5 on $10k · with fees, hour by hour
Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Derive is 0.082% cheaper against Vest than usual: you would sell low and buy high, −$8 on $10k if it goes back to its 7-day average of −0.014%. The two prices were read 50 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 | Vest BTC-PERP | 85,510.5 | 0.0100 | pay 0.0013% / 1h | 15m 28s | — | $11.8M | 50x |
| Short | Derive BTC-PERP | 85,427.9 | 0.0100 | get 0.0013% / 1h | 15m 28s | $29.9M | $50.3M | 15x |
Vest BTC-PERP
Derive BTC-PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Derive against Vest. 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
- $0
- Price spread: −0.097% → −0.014%
- −$8.24
- Slippage, 4 orders
- no order book: not counted
- Fee Vest: 1 bp × 2 orders
- −$2
- Fee Derive: 3 bp × 2 orders
- −$6
- Net
- −$16.24
- Costs to cover
- 0.080%
- Break-even
- never at this rate
Slippage unknown: Vest: no order-book sample; Derive: no order-book sample. 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 Vest no order-book sample | — | — | — | — | — |
| Sell Derive no order-book sample | — | — | — | — | — |
Vest and Derive: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.
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 BTC | −0.0179% | 1h | 85,466 | −0.052% | $2.1M | $10.3M | 40x | as long as short |
| Hotstuff BTC-PERP | −0.0080% | 1h | 85,438 | −0.085% | $8K | $3K | 50x | as long as short |
| 01 Exchange BTCUSD | −0.0056% | 1h | 85,466.7 | −0.051% | $364K | $2.3M | 50x | as long as short |
| KuCoin XBTUSDTM | −0.0026% | 8h | 85,443.2 | −0.079% | $919.3M | $752.1M | 125x | as long as short |
| BloFin BTC-USDT | −0.0022% | 8h | 85,457.9 | −0.061% | $417.9M | $668.5M | 150x | as long as short |
| gTrade (Gains Network) BTC/USD | L +0.0005% / S −0.0004% | 1h | 85,467.7 | −0.050% | $36.5M | — | 200x | as long as short |
| Aster BTCUSDT | +0.0011% | 8h | 85,439.8 | −0.083% | $515.0M | $1.10B | 200x | as long as short |
| dYdX BTC-USD | +0.0012% | 1h | 85,459.5 | −0.060% | $16.7M | $21.2M | 50x | as long as short |
| Nado BTC-PERP | +0.0019% | 1h | 85,446.8 | −0.074% | $25.3M | $221.8M | 50x | as long as short |
| Arcus BTC-USD | +0.0021% | 1h | 85,444.2 | −0.077% | $4.6M | $97.8M | 40x | as long as short |
Phoenix BTC
Hotstuff BTC-PERP
01 Exchange BTCUSD
KuCoin XBTUSDTM
BloFin BTC-USDT
gTrade (Gains Network) BTC/USD
Aster BTCUSDT
dYdX BTC-USD
Nado BTC-PERP
Arcus BTC-USDShow all 56 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| BingX BTC-USDC | +0.0062% | 8h | 85,439 | −0.084% | — | $17.1M | — | as long as short |
| Phemex BTCUSDT | +0.0077% | 8h | 85,439.4 | −0.083% | $147.6M | $488.0M | 150x | as long as short |
| Bitget BTCUSDT | +0.0078% | 8h | 85,455.4 | −0.064% | $2.94B | $5.08B | 150x | as long as short |
| Reya BTCRUSDPERP | +0.0084% | 1h | 85,445.8 | −0.076% | $6.7M | $146.8M | 40x | as long as short |
| Lighter BTC | +0.0096% | 1h | 85,461.9 | −0.057% | $172.4M | $1.02B | 50x | as long as short |
| Lighter RH BTC | +0.0096% | 1h | 85,461.5 | −0.057% | $23.9M | $149.3M | 50x | as long as short |
| Popdex BTCUSDT | +0.0096% | 1h | 85,468 | −0.050% | $8.6M | $53.2M | 100x | as long as short |
| Aevo BTC-PERP | +0.0096% | 1h | 85,458.3 | −0.061% | $2.4M | $1.7M | 20x | as long as short |
| MEXC BTC_USDT | +0.0097% | 8h | 85,463.1 | −0.055% | $5.07B | $5.65B | 500x | as long as short |
| Binance BTCUSDT | +0.0099% | 8h | 85,460.6 | −0.058% | $9.36B | $24.16B | 150x | as long as short |
| Katana Perps BTC-USD | +0.0100% | 8h | 85,432 | −0.092% | $210K | $8.1M | 50x | as long as short |
| Paradex BTC-USD-PERP | +0.0100% | 8h | 85,521.1 | +0.012% | $5.0M | $9.0M | 50x | as long as short |
| Hyperliquid BTC | +0.0100% | 1h | 85,544 | +0.039% | $3.75B | $4.99B | 40x | as long as short |
| Pacifica BTC | +0.0100% | 1h | 85,478 | −0.038% | $40.1M | $579.3M | 50x | as long as short |
| Bybit BTCUSDT | +0.0100% | 8h | 85,460.5 | −0.058% | $5.20B | $9.80B | 150x | as long as short |
| OKX BTC-USDT-SWAP | +0.0100% | 8h | 85,467.9 | −0.050% | $2.58B | $12.14B | 100x | as long as short |
| Ondo Perps BTC-USD.P | +0.0100% | 1h | 85,439 | −0.084% | $3.9M | $18.2M | 25x | as long as short |
| Bulk BTC-USD | +0.0100% | 1h | 85,516 | +0.006% | $659.1M | $647.8M | 40x | as long as short |
| Gate BTC_USDT | +0.0100% | 8h | 85,463 | −0.055% | $5.51B | $10.74B | 200x | as long as short |
| Backpack BTC_USDC_PERP | +0.0100% | 1h | 85,423.7 | −0.101% | $35.6M | $176.7M | 75x | as long as short |
| Variational Omni BTC | +0.0100% | 8h | 85,420.9 | −0.105% | $153.3M | $564.9M | — | as long as short |
| edgeX BTCUSDC | +0.0100% | 4h | 85,426.8 | −0.098% | $279.1M | $922.7M | 100x | as long as short |
| GRVT BTC_USDT_Perp | +0.0100% | 8h | 85,459.5 | −0.060% | $214.5M | $168.8M | 50x | as long as short |
| ApeX Omni BTCUSDT | +0.0100% | 1h | 85,462.5 | −0.056% | $139.7M | $314.7M | 100x | as long as short |
| StandX BTC-USD | +0.0100% | 1h | 85,439 | −0.084% | $30.2M | $208.3M | 40x | as long as short |
| Vest BTC-PERPlong | +0.0100% | 1h | 85,510.5 | long leg | — | $11.8M | 50x | |
| Polymarket Perps BTC-USD | +0.0100% | 1h | 85,459 | −0.060% | $11.1M | $14.3M | 50x | as long as short |
| Bullet BTC-USD | +0.0100% | 1h | 85,460.2 | −0.059% | $190K | $3.3M | 20x | as long as short |
| Orderly PERP_BTC_USDC | +0.0100% | 8h | 85,459.5 | −0.060% | $2.4M | $8.8M | 100x | as long as short |
| Bluefin BTC-PERP | +0.0100% | 1h | 85,504.2 | −0.007% | $207K | $738K | 40x | as long as short |
| Derive BTC-PERPshort | +0.0100% | 1h | 85,427.9 | −0.097% | $29.9M | $50.3M | 15x | |
| SunX BTC-USDT | +0.0100% | 8h | 85,422.5 | −0.103% | $2.9M | $6.1M | 100x | as long as short |
| SoDEX BTC-USD | +0.0100% | 1h | 85,441 | −0.081% | $59.9M | $336.2M | 40x | as long as short |
| HTX BTC-USDT | +0.0100% | 8h | 85,425.1 | −0.100% | $2.26B | $942.9M | 200x | as long as short |
| Extended BTC-USD | +0.0104% | 1h | 85,423.7 | −0.101% | $44.6M | $231.0M | 50x | as long as short |
| Jupiter Perps WBTC-PERP | L +0.0104% / S +0.0048% | 1h | 85,472.2 | −0.045% | — | $107.5M | 500x | as long as short |
| Coinbase International BTC-PERP-INTX | +0.0104% | 1h | 85,481.5 | −0.034% | $117.3M | $5.19B | 50x | as long as short |
| Deribit BTC-PERPETUAL | +0.0141% | 1h | 85,485.3 | −0.029% | $891.4M | $1.58B | 50x | as long as short |
| Injective BTC/USDC PERP | +0.0150% | 1h | 85,470 | −0.047% | $339K | $26.9M | 52x | as long as short |
| Kraken Futures PF_XBTUSD | +0.0170% | 1h | 85,458.7 | −0.061% | $187.3M | $955.3M | 100x | as long as short |
| GMX BTC/USD [WBTC.b-USDC] | L +0.0176% / S −0.0152% | 1h | 85,466.8 | −0.051% | $13.3M | — | 200x | as long as short |
| RISEx BTC/USDC | +0.0194% | 1h | 85,485.6 | −0.029% | $8.2M | $42.5M | 25x | as long as short |
| Kalshi KXBTCPERP | +0.0219% | 8h | 85,471 | −0.046% | $10.4M | $756.3M | 6.4x | as long as short |
| Aftermath Perps BTCUSD | +0.0222% | 1h | 85,485.4 | −0.029% | $78K | $219K | 20x | as long as short |
| Hibachi BTC/USDT-P | +0.0224% | 1h | 85,463.6 | −0.055% | $702K | $7.9M | 30x | as long as short |
| Perpl BTC | +0.0447% | 43m | 85,449.4 | −0.071% | $495K | $18.8M | 6.7x | as long as short |
BingX BTC-USDC
Phemex BTCUSDT
Bitget BTCUSDT
Reya BTCRUSDPERP
Lighter BTC
Lighter RH BTC
Popdex BTCUSDT
Aevo BTC-PERP
MEXC BTC_USDT
Binance BTCUSDT
Katana Perps BTC-USD
Paradex BTC-USD-PERP
Hyperliquid BTC
Pacifica BTC
Bybit BTCUSDT
OKX BTC-USDT-SWAP
Ondo Perps BTC-USD.P
Bulk BTC-USD
Gate BTC_USDT
Backpack BTC_USDC_PERP
Variational Omni BTC
edgeX BTCUSDC
GRVT BTC_USDT_Perp
ApeX Omni BTCUSDT
StandX BTC-USD
Polymarket Perps BTC-USD
Bullet BTC-USD
Orderly PERP_BTC_USDC
Bluefin BTC-PERP
SunX BTC-USDT
SoDEX BTC-USD
HTX BTC-USDT
Extended BTC-USD
Jupiter Perps WBTC-PERP
Coinbase International BTC-PERP-INTX
Deribit BTC-PERPETUAL
Injective BTC/USDC PERP
Kraken Futures PF_XBTUSD
GMX BTC/USD [WBTC.b-USDC]
RISEx BTC/USDC
Kalshi KXBTCPERP
Aftermath Perps BTCUSD
Hibachi BTC/USDT-P
Perpl BTC