Funding you earn now, next payment 00:12 UTC−0.0100%/8h= −10.9% APRpaid last 24h −0.054%
Price spread now: Perpl against Derive+0.031%7-day average +0.014% · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 7 days+0.362%+$36 on $10k
+Price spread, last 3 days (all we have)+0.026%+$3 · spread now +0.031%, 7d avg +0.014%
=Together, before fees+0.387%+ Points / potential airdropPerpl: Active · farm board+$39 on $10k · with fees, hour by hour
The price spread sits at its 7-day average of +0.014%, so right now this pair is about funding alone: −$3 a day on $10k at the current rate. Mind the row above: over the last 7 days funding on this pair paid +0.362%, so the current rate has only just turned against you.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Derive BTC-PERP | 86,137 | 0.0100 | pay 0.0013% / 1h | 7m 00s | $30.3M | $57.0M | 15x |
| Short | Perpl BTC | 86,163.4 | 0 | get 0.0000% / 43m | 29m 00s | $582K | $21.2M | 6.7x |
Derive BTC-PERP
Perpl BTCFunding history
latest
Range statsloading…
Price spread between the two exchanges
Perpl 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
- −$21
- Price spread: +0.031% → +0.014%
- $1.69
- Slippage, 4 orders
- no order book: not counted
- Fee Derive: 3 bp × 2 orders
- −$6
- Fee Perpl: 6.9 bp × 2 orders
- −$13.8
- Net
- −$39.11
- Costs to cover
- 0.198%
- Break-even
- never at this rate
Slippage unknown: Derive: no order-book sample; Perpl: 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 Derive no order-book sample | — | — | — | — | — |
| Sell Perpl no order-book sample | — | — | — | — | — |
Derive and Perpl: 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 | −0.0129% | 1h | 86,215 | +0.091% | $2.2M | $11.2M | 40x | as long as short |
| Hotstuff BTC-PERP | −0.0080% | 1h | 86,158 | +0.024% | $9K | $3K | 50x | as long as short |
| 01 Exchange BTCUSD | −0.0040% | 1h | 86,113.1 | −0.028% | $363K | $2.3M | 50x | as long as short |
| Perpl BTCshort | 0.0000% | 43m | 86,163.4 | +0.031% | $582K | $21.2M | 6.7x | |
| gTrade (Gains Network) BTC/USD | L +0.0004% / S −0.0004% | 1h | 86,142.7 | +0.007% | $36.8M | — | 200x | as long as short |
| Injective BTC/USDC PERP | +0.0023% | 1h | 86,365 | +0.265% | $343K | $26.9M | 52x | as long as short |
| dYdX BTC-USD | +0.0025% | 1h | 86,156.2 | +0.022% | $16.9M | $20.5M | 50x | as long as short |
| Aster BTCUSDT | +0.0031% | 8h | 86,110.7 | −0.031% | $499.3M | $1.13B | 200x | as long as short |
| KuCoin XBTUSDTM | +0.0043% | 8h | 86,092.8 | −0.051% | $828.0M | $715.4M | 125x | as long as short |
| Reya BTCRUSDPERP | +0.0049% | 1h | 86,110.4 | −0.031% | $6.7M | $145.8M | 40x | as long as short |
Phoenix BTC
Hotstuff BTC-PERP
01 Exchange BTCUSD
gTrade (Gains Network) BTC/USD
Injective BTC/USDC PERP
dYdX BTC-USD
Aster BTCUSDT
KuCoin XBTUSDTM
Reya BTCRUSDPERPShow all 56 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| RISEx BTC/USDC | +0.0052% | 1h | 86,121.5 | −0.018% | $8.2M | $42.4M | 25x | as long as short |
| BingX BTC-USDT | +0.0053% | 8h | 86,100.4 | −0.042% | — | $1.57B | — | as long as short |
| Bluefin BTC-PERP | +0.0054% | 1h | 86,148.6 | +0.013% | $144K | $666K | 40x | as long as short |
| Bitget BTCUSDT | +0.0066% | 8h | 86,092.2 | −0.052% | $2.96B | $5.05B | 150x | as long as short |
| HTX BTC-USDT | +0.0070% | 8h | 86,094.7 | −0.049% | $2.29B | $957.7M | 200x | as long as short |
| SoDEX BTC-USD | +0.0074% | 1h | 86,112 | −0.029% | $60.3M | $338.3M | 40x | as long as short |
| Phemex BTCUSDT | +0.0078% | 8h | 86,112.2 | −0.029% | $155.7M | $473.1M | 150x | as long as short |
| Aevo BTC-PERP | +0.0080% | 1h | 86,115.2 | −0.025% | $2.5M | $1.8M | 20x | as long as short |
| Binance BTCUSDT | +0.0083% | 8h | 86,089.3 | −0.055% | $9.37B | $24.22B | 150x | as long as short |
| MEXC BTC_USDT | +0.0084% | 8h | 86,091.5 | −0.053% | $5.10B | $5.76B | 500x | as long as short |
| Gate BTC_USDT | +0.0088% | 8h | 86,103 | −0.039% | $5.77B | $10.66B | 200x | as long as short |
| Lighter BTC | +0.0096% | 1h | 86,129.1 | −0.009% | $170.1M | $994.2M | 50x | as long as short |
| Lighter RH BTC | +0.0096% | 1h | 86,135.7 | −0.001% | $23.6M | $152.1M | 50x | as long as short |
| Popdex BTCUSDT | +0.0096% | 1h | 86,114 | −0.027% | $8.4M | $52.1M | 100x | as long as short |
| Katana Perps BTC-USD | +0.0100% | 8h | 86,088 | −0.057% | $199K | $7.3M | 50x | as long as short |
| Paradex BTC-USD-PERP | +0.0100% | 8h | 86,176.5 | +0.046% | $4.2M | $8.5M | 50x | as long as short |
| Nado BTC-PERP | +0.0100% | 1h | 86,148.9 | +0.014% | $22.2M | $224.9M | 50x | as long as short |
| Hyperliquid BTC | +0.0100% | 1h | 86,183 | +0.053% | $3.77B | $4.96B | 40x | as long as short |
| Pacifica BTC | +0.0100% | 1h | 86,170.6 | +0.039% | $40.8M | $560.8M | 50x | as long as short |
| Bybit BTCUSDT | +0.0100% | 8h | 86,110.4 | −0.031% | $5.25B | $9.63B | 150x | as long as short |
| OKX BTC-USDT-SWAP | +0.0100% | 8h | 86,112.9 | −0.028% | $2.56B | $12.40B | 100x | as long as short |
| Ondo Perps BTC-USD.P | +0.0100% | 1h | 86,148 | +0.013% | $3.9M | $17.9M | 25x | as long as short |
| Arcus BTC-USD | +0.0100% | 1h | 86,131.4 | −0.006% | $7.2M | $95.0M | 40x | as long as short |
| Backpack BTC_USDC_PERP | +0.0100% | 1h | 86,102 | −0.041% | $35.5M | $161.7M | 75x | as long as short |
| Variational Omni BTC | +0.0100% | 8h | 86,205.5 | +0.080% | $156.7M | $558.7M | — | as long as short |
| edgeX BTCUSDC | +0.0100% | 4h | 86,183.7 | +0.054% | $278.4M | $939.2M | 100x | as long as short |
| GRVT BTC_USDT_Perp | +0.0100% | 8h | 86,175.4 | +0.045% | $216.3M | $165.4M | 50x | as long as short |
| ApeX Omni BTCUSDT | +0.0100% | 1h | 86,194.2 | +0.066% | $141.1M | $320.0M | 100x | as long as short |
| StandX BTC-USD | +0.0100% | 1h | 86,132.5 | −0.005% | $30.6M | $207.3M | 40x | as long as short |
| Vest BTC-PERP | +0.0100% | 1h | 86,166 | +0.034% | — | $11.8M | 50x | as long as short |
| Polymarket Perps BTC-USD | +0.0100% | 1h | 86,115 | −0.026% | $11.1M | $14.1M | 50x | as long as short |
| Bullet BTC-USD | +0.0100% | 1h | 86,121.7 | −0.018% | $190K | $3.3M | 20x | as long as short |
| Orderly PERP_BTC_USDC | +0.0100% | 8h | 86,118.2 | −0.022% | $2.4M | $9.0M | 100x | as long as short |
| Derive BTC-PERPlong | +0.0100% | 1h | 86,137 | long leg | $30.3M | $57.0M | 15x | |
| SunX BTC-USDT | +0.0100% | 8h | 86,120.2 | −0.019% | $3.3M | $5.4M | 100x | as long as short |
| Bulk BTC-USD | +0.0100% | 1h | 86,141.5 | +0.005% | $581.0M | $76.4M | 40x | as long as short |
| Extended BTC-USD | +0.0104% | 1h | 86,064.7 | −0.084% | $46.0M | $222.3M | 50x | as long as short |
| Jupiter Perps WBTC-PERP | L +0.0104% / S +0.0048% | 1h | 86,142.8 | +0.007% | — | $99.2M | 500x | as long as short |
| Coinbase International BTC-PERP-INTX | +0.0120% | 1h | 86,152.3 | +0.018% | $132.3M | $5.27B | 50x | as long as short |
| Kraken Futures PF_XBTUSD | +0.0121% | 1h | 86,141.7 | +0.005% | $190.9M | $952.2M | 100x | as long as short |
| Hibachi BTC/USDT-P | +0.0136% | 1h | 86,193.1 | +0.065% | $731K | $7.9M | 30x | as long as short |
| Aftermath Perps BTCUSD | +0.0169% | 1h | 86,228.8 | +0.107% | $77K | $217K | 20x | as long as short |
| BloFin BTC-USDT | +0.0203% | 8h | 86,110 | −0.031% | $415.5M | $640.1M | 150x | as long as short |
| Kalshi KXBTCPERP | +0.0206% | 8h | 86,163 | +0.030% | $10.5M | $766.4M | 6.4x | as long as short |
| GMX BTC/USD [WBTC.b-USDC] | L +0.0207% / S −0.0222% | 1h | 86,139.2 | +0.003% | $14.5M | — | 200x | as long as short |
| Deribit BTC-PERPETUAL | +0.0210% | 1h | 86,165.7 | +0.033% | $902.7M | $1.51B | 50x | as long as short |
RISEx BTC/USDC
BingX BTC-USDT
Bluefin BTC-PERP
Bitget BTCUSDT
HTX BTC-USDT
SoDEX BTC-USD
Phemex BTCUSDT
Aevo BTC-PERP
Binance BTCUSDT
MEXC BTC_USDT
Gate BTC_USDT
Lighter BTC
Lighter RH BTC
Popdex BTCUSDT
Katana Perps BTC-USD
Paradex BTC-USD-PERP
Nado BTC-PERP
Hyperliquid BTC
Pacifica BTC
Bybit BTCUSDT
OKX BTC-USDT-SWAP
Ondo Perps BTC-USD.P
Arcus 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
Bulk BTC-USD
Extended BTC-USD
Jupiter Perps WBTC-PERP
Coinbase International BTC-PERP-INTX
Kraken Futures PF_XBTUSD
Hibachi BTC/USDT-P
Aftermath Perps BTCUSD
BloFin BTC-USDT
Kalshi KXBTCPERP
GMX BTC/USD [WBTC.b-USDC]
Deribit BTC-PERPETUAL