Funding you earn now, next payment 23:00 UTC−0.0096%/8h= −10.5% APRpaid last 24h −0.021%
Price spread now: KuCoin against Derive−0.043%7-day average −0.001% · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 7 days−0.012%−$1 on $10k
+Price spread, last 3 days (all we have)+0.092%+$9 · spread now −0.043%, 7d avg −0.001%
=Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and KuCoin is 0.042% cheaper against Derive than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of −0.001%). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Derive BTC-PERP | 86,374.8 | 0.0100 | pay 0.0013% / 1h | 4m 53s | $30.5M | $62.2M | 15x |
| Short | KuCoin XBTUSDTM | 86,337.7 | 0.0004 | get 0.0004% / 8h | 1h 04m | $849.1M | $713.4M | 125x |
Derive BTC-PERP
KuCoin XBTUSDTMFunding history
latest
Range statsloading…
Price spread between the two exchanges
KuCoin against Derive. 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
- −$20.16
- Price spread: −0.043% → −0.001%
- −$4.16
- Slippage, 4 orders
- no order book: not counted
- Fee Derive: 3 bp × 2 orders
- −$6
- Fee KuCoin: 6 bp × 2 orders
- −$12
- Net
- −$42.32
- Costs to cover
- 0.180%
- Break-even
- never at this rate
Slippage unknown: Derive: no order-book sample; KuCoin: live order book, 4 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 Derive no order-book sample | — | — | — | — | — |
| Sell KuCoin live order book, 4 min ago | 0.01 bp | 6.0 bp −$6 | 6.0 bp −$60 | 7.2 bp −$717 | doesn't fit |
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 | |
|---|---|---|---|---|---|---|---|---|
| Bluefin BTC-PERP | −0.0498% | 1h | 86,374.5 | 0.000% | $140K | $663K | 40x | as long as short |
| Phoenix BTC | −0.0159% | 1h | 86,349 | −0.030% | $2.2M | $11.8M | 40x | as long as short |
| Hotstuff BTC-PERP | −0.0080% | 1h | 86,323 | −0.060% | $9K | $3K | 50x | as long as short |
| 01 Exchange BTCUSD | −0.0016% | 1h | 86,341.1 | −0.039% | $357K | $2.5M | 50x | as long as short |
| Aster BTCUSDT | −0.0010% | 8h | 86,356.8 | −0.021% | $503.0M | $1.15B | 200x | as long as short |
| KuCoin XBTUSDTMshort | +0.0004% | 8h | 86,337.7 | −0.043% | $849.1M | $713.4M | 125x | |
| gTrade (Gains Network) BTC/USD | L +0.0005% / S −0.0004% | 1h | 86,360.5 | −0.017% | $36.8M | — | 200x | as long as short |
| RISEx BTC/USDC | +0.0006% | 1h | 86,337.9 | −0.043% | $8.4M | $42.8M | 25x | as long as short |
| dYdX BTC-USD | +0.0008% | 1h | 86,352 | −0.026% | $16.9M | $21.1M | 50x | as long as short |
| Deribit BTC-PERPETUAL | +0.0022% | 1h | 86,378 | +0.004% | $917.5M | $1.49B | 50x | as long as short |
Bluefin BTC-PERP
Phoenix BTC
Hotstuff BTC-PERP
01 Exchange BTCUSD
Aster BTCUSDT
gTrade (Gains Network) BTC/USD
RISEx BTC/USDC
dYdX BTC-USD
Deribit BTC-PERPETUALShow all 56 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Reya BTCRUSDPERP | +0.0023% | 1h | 86,342.9 | −0.037% | $6.7M | $145.1M | 40x | as long as short |
| Injective BTC/USDC PERP | +0.0024% | 1h | 86,360 | −0.017% | $332K | $26.8M | 52x | as long as short |
| BingX BTC-USDC | +0.0037% | 8h | 86,351.4 | −0.027% | — | $15.4M | — | as long as short |
| Phemex BTCUSDT | +0.0044% | 8h | 86,345.5 | −0.034% | $149.7M | $477.4M | 150x | as long as short |
| Bitget BTCUSDT | +0.0048% | 8h | 86,341 | −0.039% | $2.95B | $5.11B | 150x | as long as short |
| MEXC BTC_USDT | +0.0064% | 8h | 86,345.1 | −0.034% | $5.13B | $5.72B | 500x | as long as short |
| Aevo BTC-PERP | +0.0064% | 1h | 86,336.8 | −0.044% | $2.4M | $1.3M | 20x | as long as short |
| Aftermath Perps BTCUSD | +0.0064% | 1h | 86,382.9 | +0.009% | $80K | $219K | 20x | as long as short |
| Binance BTCUSDT | +0.0065% | 8h | 86,365.1 | −0.011% | $9.41B | $24.49B | 150x | as long as short |
| Gate BTC_USDT | +0.0080% | 8h | 86,362.9 | −0.014% | $5.84B | $10.78B | 200x | as long as short |
| Lighter BTC | +0.0096% | 1h | 86,349.2 | −0.030% | $169.9M | $1.02B | 50x | as long as short |
| Lighter RH BTC | +0.0096% | 1h | 86,359.7 | −0.018% | $24.0M | $153.0M | 50x | as long as short |
| Popdex BTCUSDT | +0.0096% | 1h | 86,341 | −0.039% | $8.4M | $52.4M | 100x | as long as short |
| Bybit BTCUSDT | +0.0096% | 8h | 86,360.9 | −0.016% | $5.26B | $9.80B | 150x | as long as short |
| Katana Perps BTC-USD | +0.0100% | 8h | 86,304 | −0.082% | $205K | $6.9M | 50x | as long as short |
| Paradex BTC-USD-PERP | +0.0100% | 8h | 86,365.2 | −0.011% | $4.8M | $8.5M | 50x | as long as short |
| Nado BTC-PERP | +0.0100% | 1h | 86,322.4 | −0.061% | $21.7M | $234.6M | 50x | as long as short |
| Hyperliquid BTC | +0.0100% | 1h | 86,412 | +0.043% | $3.79B | $5.10B | 40x | as long as short |
| Pacifica BTC | +0.0100% | 1h | 86,356.8 | −0.021% | $40.7M | $517.9M | 50x | as long as short |
| OKX BTC-USDT-SWAP | +0.0100% | 8h | 86,368.7 | −0.007% | $2.54B | $12.69B | 100x | as long as short |
| Ondo Perps BTC-USD.P | +0.0100% | 1h | 86,333 | −0.048% | $3.9M | $18.6M | 25x | as long as short |
| Arcus BTC-USD | +0.0100% | 1h | 86,379.7 | +0.006% | $7.8M | $94.5M | 40x | as long as short |
| Bulk BTC-USD | +0.0100% | 1h | 86,320.9 | −0.062% | $570.7M | $18.4M | 40x | as long as short |
| Backpack BTC_USDC_PERP | +0.0100% | 1h | 86,336.8 | −0.044% | $37.8M | $154.7M | 75x | as long as short |
| Variational Omni BTC | +0.0100% | 8h | 86,349.5 | −0.029% | $155.5M | $568.5M | — | as long as short |
| edgeX BTCUSDC | +0.0100% | 4h | 86,273.7 | −0.117% | $278.9M | $945.3M | 100x | as long as short |
| GRVT BTC_USDT_Perp | +0.0100% | 8h | 86,335.7 | −0.045% | $216.9M | $174.8M | 50x | as long as short |
| ApeX Omni BTCUSDT | +0.0100% | 1h | 86,285.8 | −0.103% | $141.1M | $323.8M | 100x | as long as short |
| StandX BTC-USD | +0.0100% | 1h | 86,324.9 | −0.058% | $30.6M | $204.1M | 40x | as long as short |
| Vest BTC-PERP | +0.0100% | 1h | 86,385.8 | +0.013% | — | $11.7M | 50x | as long as short |
| Polymarket Perps BTC-USD | +0.0100% | 1h | 86,345 | −0.035% | $11.1M | $13.8M | 50x | as long as short |
| Bullet BTC-USD | +0.0100% | 1h | 86,347.2 | −0.032% | $191K | $3.4M | 20x | as long as short |
| Orderly PERP_BTC_USDC | +0.0100% | 8h | 86,349 | −0.030% | $2.4M | $8.7M | 100x | as long as short |
| Derive BTC-PERPlong | +0.0100% | 1h | 86,374.8 | long leg | $30.5M | $62.2M | 15x | |
| SunX BTC-USDT | +0.0100% | 8h | 86,326.3 | −0.056% | $3.4M | $5.4M | 100x | as long as short |
| SoDEX BTC-USD | +0.0100% | 1h | 86,347 | −0.032% | $60.4M | $337.3M | 40x | as long as short |
| HTX BTC-USDT | +0.0100% | 8h | 86,335.7 | −0.045% | $2.29B | $968.7M | 200x | as long as short |
| Extended BTC-USD | +0.0104% | 1h | 86,324.3 | −0.058% | $45.6M | $226.4M | 50x | as long as short |
| Jupiter Perps WBTC-PERP | L +0.0104% / S +0.0048% | 1h | 86,353 | −0.025% | — | $98.9M | 500x | as long as short |
| Perpl BTC | +0.0112% | 43m | 86,343.1 | −0.037% | $418K | $23.5M | 6.7x | as long as short |
| Coinbase International BTC-PERP-INTX | +0.0112% | 1h | 86,384.9 | +0.012% | $131.9M | $5.68B | 50x | as long as short |
| Kraken Futures PF_XBTUSD | +0.0121% | 1h | 86,366 | −0.010% | $191.8M | $946.6M | 100x | as long as short |
| Hibachi BTC/USDT-P | +0.0136% | 1h | 86,334 | −0.047% | $719K | $8.1M | 30x | as long as short |
| BloFin BTC-USDT | +0.0185% | 8h | 86,347.3 | −0.032% | $414.6M | $653.8M | 150x | as long as short |
| GMX BTC/USD [WBTC.b-USDC] | L +0.0188% / S −0.0211% | 1h | 86,354.3 | −0.024% | $15.1M | — | 200x | as long as short |
| Kalshi KXBTCPERP | +0.0199% | 8h | 86,360 | −0.017% | $9.6M | $736.2M | 6.4x | as long as short |
Reya BTCRUSDPERP
Injective BTC/USDC PERP
BingX BTC-USDC
Phemex BTCUSDT
Bitget BTCUSDT
MEXC BTC_USDT
Aevo BTC-PERP
Aftermath Perps BTCUSD
Binance BTCUSDT
Gate BTC_USDT
Lighter BTC
Lighter RH BTC
Popdex BTCUSDT
Bybit BTCUSDT
Katana Perps BTC-USD
Paradex BTC-USD-PERP
Nado BTC-PERP
Hyperliquid BTC
Pacifica BTC
OKX BTC-USDT-SWAP
Ondo Perps BTC-USD.P
Arcus BTC-USD
Bulk BTC-USD
Backpack BTC_USDC_PERP
Variational Omni BTC
edgeX BTCUSDC
GRVT BTC_USDT_Perp
ApeX Omni BTCUSDT
StandX BTC-USD
Vest BTC-PERP
Polymarket Perps BTC-USD
Bullet BTC-USD
Orderly PERP_BTC_USDC
SunX BTC-USDT
SoDEX BTC-USD
HTX BTC-USDT
Extended BTC-USD
Jupiter Perps WBTC-PERP
Perpl BTC
Coinbase International BTC-PERP-INTX
Kraken Futures PF_XBTUSD
Hibachi BTC/USDT-P
BloFin BTC-USDT
GMX BTC/USD [WBTC.b-USDC]
Kalshi KXBTCPERP