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: Polymarket Perps against Derive+0.006%50s7-day average +0.002% · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 7 days+0.083%+$8 on $10k
+Price spread, last 4 days (all we have)+0.071%+$7 · spread now +0.006%, 7d avg +0.002%
=| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Derive BTC-PERP | 85,417.1 | 0.0100 | pay 0.0013% / 1h | 42m 26s | $29.9M | $50.9M | 15x |
| Short | Polymarket Perps BTC-USD | 85,422 | 0.0100 | get 0.0013% / 1h | 42m 26s | $11.0M | $14.2M | 50x |
Derive BTC-PERP
Polymarket Perps BTC-USDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Polymarket Perps 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
- $0
- Price spread: +0.006% → +0.002%
- $0.36
- Slippage, 4 orders
- no order book: not counted
- Fee Derive: 3 bp × 2 orders
- −$6
- Fee Polymarket Perps: 4 bp × 2 orders
- −$8
- Net
- −$13.64
- Costs to cover
- 0.140%
- Break-even
- never at this rate
Slippage unknown: Derive: no order-book sample; Polymarket Perps: 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 Derive no order-book sample | — | — | — | — | — |
| Sell Polymarket Perps live order book, 2 min ago | 0.06 bp | 4.1 bp −$4 | 4.2 bp −$42 | 7.1 bp −$708 | 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 | −0.0509% | 1h | 85,445.9 | +0.034% | $206K | $738K | 40x | as long as short |
| Phoenix BTC | −0.0179% | 1h | 85,410 | −0.008% | $2.2M | $10.3M | 40x | as long as short |
| Hotstuff BTC-PERP | −0.0080% | 1h | 85,426 | +0.010% | $8K | $3K | 50x | as long as short |
| 01 Exchange BTCUSD | −0.0048% | 1h | 85,409.1 | −0.009% | $365K | $2.3M | 50x | as long as short |
| BloFin BTC-USDT | −0.0031% | 8h | 85,441.9 | +0.029% | $416.7M | $665.2M | 150x | as long as short |
| KuCoin XBTUSDTM | −0.0006% | 8h | 85,391 | −0.031% | $918.4M | $750.5M | 125x | as long as short |
| dYdX BTC-USD | 0.0000% | 1h | 85,433.8 | +0.020% | $16.7M | $21.2M | 50x | as long as short |
| gTrade (Gains Network) BTC/USD | L +0.0005% / S −0.0004% | 1h | 85,414.4 | −0.003% | $36.5M | — | 200x | as long as short |
| Aster BTCUSDT | +0.0013% | 8h | 85,396.2 | −0.024% | $514.6M | $1.10B | 200x | as long as short |
| Arcus BTC-USD | +0.0021% | 1h | 85,394.1 | −0.027% | $6.9M | $97.2M | 40x | as long as short |
Bluefin BTC-PERP
Phoenix BTC
Hotstuff BTC-PERP
01 Exchange BTCUSD
BloFin BTC-USDT
KuCoin XBTUSDTM
dYdX BTC-USD
gTrade (Gains Network) BTC/USD
Aster BTCUSDT
Arcus BTC-USDShow all 56 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Nado BTC-PERP | +0.0059% | 1h | 85,401.2 | −0.019% | $22.6M | $219.2M | 50x | as long as short |
| BingX BTC-USDT | +0.0060% | 8h | 85,405.6 | −0.013% | — | $1.54B | — | as long as short |
| Bitget BTCUSDT | +0.0075% | 8h | 85,412.8 | −0.005% | $2.96B | $5.03B | 150x | as long as short |
| Reya BTCRUSDPERP | +0.0079% | 1h | 85,413.2 | −0.005% | $6.7M | $146.6M | 40x | as long as short |
| MEXC BTC_USDT | +0.0088% | 8h | 85,416.2 | −0.001% | $5.04B | $5.59B | 500x | as long as short |
| Aevo BTC-PERP | +0.0088% | 1h | 85,411.7 | −0.006% | $2.4M | $1.7M | 20x | as long as short |
| Binance BTCUSDT | +0.0090% | 8h | 85,403.3 | −0.016% | $9.34B | $24.04B | 150x | as long as short |
| Lighter BTC | +0.0096% | 1h | 85,417.9 | +0.001% | $173.2M | $1.00B | 50x | as long as short |
| Lighter RH BTC | +0.0096% | 1h | 85,421.8 | +0.006% | $23.8M | $148.4M | 50x | as long as short |
| Popdex BTCUSDT | +0.0096% | 1h | 85,402 | −0.018% | $8.4M | $52.7M | 100x | as long as short |
| Katana Perps BTC-USD | +0.0100% | 8h | 85,385 | −0.038% | $230K | $8.0M | 50x | as long as short |
| Paradex BTC-USD-PERP | +0.0100% | 8h | 85,479.4 | +0.073% | $4.1M | $8.5M | 50x | as long as short |
| Hyperliquid BTC | +0.0100% | 1h | 85,482.3 | +0.076% | $3.74B | $4.98B | 40x | as long as short |
| Pacifica BTC | +0.0100% | 1h | 85,446.1 | +0.034% | $40.0M | $575.8M | 50x | as long as short |
| Bybit BTCUSDT | +0.0100% | 8h | 85,398.3 | −0.022% | $5.24B | $9.69B | 150x | as long as short |
| OKX BTC-USDT-SWAP | +0.0100% | 8h | 85,413.2 | −0.005% | $2.58B | $12.09B | 100x | as long as short |
| Ondo Perps BTC-USD.P | +0.0100% | 1h | 85,392 | −0.029% | $3.9M | $18.0M | 25x | as long as short |
| Gate BTC_USDT | +0.0100% | 8h | 85,407 | −0.012% | $5.53B | $10.60B | 200x | as long as short |
| Backpack BTC_USDC_PERP | +0.0100% | 1h | 85,389.3 | −0.033% | $35.7M | $176.0M | 75x | as long as short |
| Variational Omni BTC | +0.0100% | 8h | 85,466.8 | +0.058% | $153.8M | $563.2M | — | as long as short |
| edgeX BTCUSDC | +0.0100% | 4h | 85,507.5 | +0.106% | $279.3M | $919.2M | 100x | as long as short |
| GRVT BTC_USDT_Perp | +0.0100% | 8h | 85,511.2 | +0.110% | $214.7M | $168.5M | 50x | as long as short |
| ApeX Omni BTCUSDT | +0.0100% | 1h | 85,522.5 | +0.123% | $139.9M | $314.9M | 100x | as long as short |
| StandX BTC-USD | +0.0100% | 1h | 85,531 | +0.133% | $30.2M | $207.6M | 40x | as long as short |
| Vest BTC-PERP | +0.0100% | 1h | 85,474.1 | +0.067% | — | $11.8M | 50x | as long as short |
| Polymarket Perps BTC-USDshort | +0.0100% | 1h | 85,422 | +0.006% | $11.0M | $14.2M | 50x | |
| Bullet BTC-USD | +0.0100% | 1h | 85,411.1 | −0.007% | $194K | $3.3M | 20x | as long as short |
| Orderly PERP_BTC_USDC | +0.0100% | 8h | 85,408.8 | −0.010% | $2.3M | $8.8M | 100x | as long as short |
| Derive BTC-PERPlong | +0.0100% | 1h | 85,417.1 | long leg | $29.9M | $50.9M | 15x | |
| SunX BTC-USDT | +0.0100% | 8h | 85,537.2 | +0.141% | $2.9M | $6.1M | 100x | as long as short |
| SoDEX BTC-USD | +0.0100% | 1h | 85,414 | −0.004% | $59.9M | $336.1M | 40x | as long as short |
| HTX BTC-USDT | +0.0100% | 8h | 85,416.6 | −0.001% | $2.26B | $940.3M | 200x | as long as short |
| Phemex BTCUSDT | +0.0100% | 8h | 85,421.9 | +0.006% | $150.1M | $483.8M | 150x | as long as short |
| Bulk BTC-USD | +0.0100% | 1h | 85,513.6 | +0.113% | $649.6M | $594.9M | 40x | as long as short |
| Extended BTC-USD | +0.0104% | 1h | 85,382.3 | −0.041% | $44.5M | $226.5M | 50x | as long as short |
| Jupiter Perps WBTC-PERP | L +0.0104% / S +0.0056% | 1h | 85,435.1 | +0.021% | — | $107.0M | 500x | as long as short |
| Coinbase International BTC-PERP-INTX | +0.0104% | 1h | 85,453.9 | +0.043% | $117.0M | $5.15B | 50x | as long as short |
| Deribit BTC-PERPETUAL | +0.0113% | 1h | 85,458.6 | +0.049% | $893.7M | $1.53B | 50x | as long as short |
| Injective BTC/USDC PERP | +0.0150% | 1h | 85,539 | +0.143% | $340K | $26.9M | 52x | as long as short |
| Kraken Futures PF_XBTUSD | +0.0170% | 1h | 85,430.3 | +0.015% | $188.6M | $953.6M | 100x | as long as short |
| GMX BTC/USD [WBTC.b-USDC] | L +0.0176% / S −0.0150% | 1h | 85,471.3 | +0.063% | $13.4M | — | 200x | as long as short |
| RISEx BTC/USDC | +0.0194% | 1h | 85,436.5 | +0.023% | $8.3M | $42.4M | 25x | as long as short |
| Hibachi BTC/USDT-P | +0.0200% | 1h | 85,502.4 | +0.100% | $693K | $7.9M | 30x | as long as short |
| Aftermath Perps BTCUSD | +0.0203% | 1h | 85,539.4 | +0.143% | $78K | $219K | 20x | as long as short |
| Kalshi KXBTCPERP | +0.0217% | 8h | 85,505 | +0.103% | $10.5M | $758.8M | 6.4x | as long as short |
| Perpl BTC | +0.0447% | 43m | 85,426.7 | +0.011% | $498K | $18.9M | 6.7x | as long as short |
Nado BTC-PERP
BingX BTC-USDT
Bitget BTCUSDT
Reya BTCRUSDPERP
MEXC BTC_USDT
Aevo BTC-PERP
Binance BTCUSDT
Lighter BTC
Lighter RH BTC
Popdex BTCUSDT
Katana Perps BTC-USD
Paradex BTC-USD-PERP
Hyperliquid BTC
Pacifica BTC
Bybit BTCUSDT
OKX BTC-USDT-SWAP
Ondo Perps BTC-USD.P
Gate BTC_USDT
Backpack BTC_USDC_PERP
Variational Omni BTC
edgeX BTCUSDC
GRVT BTC_USDT_Perp
ApeX Omni BTCUSDT
StandX BTC-USD
Vest BTC-PERP
Bullet BTC-USD
Orderly PERP_BTC_USDC
SunX BTC-USDT
SoDEX BTC-USD
HTX BTC-USDT
Phemex BTCUSDT
Bulk BTC-USD
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
Hibachi BTC/USDT-P
Aftermath Perps BTCUSD
Kalshi KXBTCPERP
Perpl BTC