BTC

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC+0.0004%/8h= +0.5% APRnext payment +$0.01 per $10,000 · paid last 24h +0.002%

Price spread now: gTrade (Gains Network) against dYdX+0.055%7-day average −0.004% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$20as in the Price arb table

costs, in and out, $10k−$260.261% of the position

Long on dYdX Short on gTrade (Gains Network)

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.003%$0 on $10k

Price spread, last 7 days−0.063%−$6 · spread now +0.055%, 7d avg −0.004%

Together, before fees−0.060%−$6 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: gTrade (Gains Network) is 0.058% dearer against dYdX than usual: you sell high and buy low, +$6 on $10k if it goes back to its 7-day average of −0.004%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	dYdX BTC-USD	85,879.7	0	get 0.0000% / 1h	47m 03s	$16.8M	$13.6M	50x
Short	gTrade (Gains Network) BTC/USD	85,926.6	L +0.0004% / S −0.0004%	get 0.0001% / 1h	47m 03s	$36.9M	—	200x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

gTrade (Gains Network) against dYdX. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee dYdXbpFee gTrade (Gains Network)bpOrdersPrice spread, now +0.055%Rate

Funding earned: $0.89
Price spread: +0.055% → −0.004%: $5.83
Slippage, 4 orders: −$9.07
Fee dYdX: 5 bp × 2 orders: −$10
Fee gTrade (Gains Network): 3.5 bp × 2 orders: −$7
Net: −$19.35
Costs to cover: 0.261%
Break-even: 159.6 days

Slippage from dYdX: live order book, just now; gTrade (Gains Network): virtual book (oracle exchange), 5 min ago.

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 dYdX live order book, just now	3.84 bp	8.8 bp −$9	9.9 bp −$99	14.5 bp −$1,453	26.0 bp −$13.0K
Sell gTrade (Gains Network) virtual book (oracle exchange), 5 min ago	0.51 bp	4.0 bp −$4	4.1 bp −$41	4.5 bp −$446	6.4 bp −$3,181

BTC on 56 exchanges

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	−0.0150%	1h	85,939	+0.069%	$2.1M	$7.7M	40x	as long as short
Perpl BTC	−0.0112%	43m	85,936.6	+0.066%	$473K	$13.4M	6.7x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	85,930	+0.059%	$8K	$2K	50x	as long as short
BloFin BTC-USDT	−0.0045%	8h	85,912.5	+0.038%	$424.3M	$550.5M	150x	as long as short
01 Exchange BTCUSD	−0.0040%	1h	85,917.6	+0.044%	$369K	$1.8M	50x	as long as short
ApeX Omni BTCUSDT	−0.0004%	1h	85,852.8	−0.031%	$137.7M	$288.5M	100x	as long as short
dYdX BTC-USDlong	0.0000%	1h	85,879.7	long leg	$16.8M	$13.6M	50x
Injective BTC/USDC PERP	+0.0001%	1h	85,783	−0.113%	$321K	$28.3M	52x	as long as short
SoDEX BTC-USD	+0.0003%	1h	85,914	+0.040%	$65.9M	$186.9M	40x	as long as short
gTrade (Gains Network) BTC/USDshort	L +0.0004% / S −0.0004%	1h	85,926.6	+0.055%	$36.9M	—	200x

Show all 56 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster BTCUSDT	+0.0015%	8h	85,892	+0.014%	$511.3M	$830.4M	200x	as long as short
Kraken Futures PF_XBTUSD	+0.0019%	1h	85,923.7	+0.051%	$192.8M	$739.1M	100x	as long as short
BingX BTC-USDC	+0.0047%	8h	85,872	−0.009%	—	$16.1M	—	as long as short
Popdex BTCUSDT	+0.0048%	1h	85,933	+0.062%	$8.6M	$45.6M	100x	as long as short
KuCoin XBTUSDTM	+0.0053%	8h	85,916.2	+0.042%	$941.4M	$635.2M	125x	as long as short
Bybit BTCUSDT	+0.0061%	8h	85,897.3	+0.020%	$5.14B	$8.00B	150x	as long as short
Phemex BTCUSDT	+0.0061%	8h	85,926.4	+0.054%	$171.1M	$475.0M	150x	as long as short
Aevo BTC-PERP	+0.0072%	1h	85,908.4	+0.033%	$2.4M	$6.8M	20x	as long as short
MEXC BTC_USDT	+0.0074%	8h	85,905.6	+0.030%	$5.16B	$4.71B	500x	as long as short
Binance BTCUSDT	+0.0075%	8h	85,891.3	+0.013%	$9.41B	$20.02B	150x	as long as short
Gate BTC_USDT	+0.0077%	8h	85,899.9	+0.023%	$5.51B	$8.77B	200x	as long as short
HTX BTC-USDT	+0.0085%	8h	85,906.5	+0.031%	$2.27B	$760.9M	200x	as long as short
Bitget BTCUSDT	+0.0087%	8h	85,884.2	+0.005%	$3.00B	$3.84B	150x	as long as short
Lighter BTC	+0.0096%	1h	85,926.3	+0.054%	$173.5M	$835.1M	50x	as long as short
Lighter RH BTC	+0.0096%	1h	85,932.9	+0.062%	$23.8M	$117.1M	50x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	85,900	+0.024%	$231K	$8.1M	50x	as long as short
Paradex BTC-USD-PERP	+0.0100%	8h	85,934.7	+0.064%	$5.9M	$7.2M	50x	as long as short
Nado BTC-PERP	+0.0100%	1h	85,933.3	+0.062%	$23.6M	$189.5M	50x	as long as short
Pacifica BTC	+0.0100%	1h	85,921.6	+0.049%	$40.1M	$569.3M	50x	as long as short
OKX BTC-USDT-SWAP	+0.0100%	8h	85,897.7	+0.021%	$2.63B	$9.12B	100x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	85,894	+0.017%	$4.0M	$14.6M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	85,923.8	+0.051%	$4.8M	$91.1M	40x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	85,884.1	+0.005%	$38.2M	$196.1M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	85,863.5	−0.019%	$156.6M	$472.5M	—	as long as short
edgeX BTCUSDC	+0.0100%	4h	85,791.9	−0.102%	$289.4M	$734.8M	100x	as long as short
GRVT BTC_USDT_Perp	+0.0100%	8h	85,812	−0.079%	$215.5M	$132.8M	50x	as long as short
StandX BTC-USD	+0.0100%	1h	85,867	−0.015%	$30.2M	$227.3M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	85,995.1	+0.134%	—	$10.1M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	85,932	+0.061%	$11.0M	$12.1M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	85,950	+0.082%	$217K	$3.2M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	85,909.8	+0.035%	$2.6M	$8.7M	100x	as long as short
Bluefin BTC-PERP	+0.0100%	1h	85,946.1	+0.077%	$143K	$608K	40x	as long as short
Derive BTC-PERP	+0.0100%	1h	85,974	+0.110%	$29.1M	$44.3M	15x	as long as short
SunX BTC-USDT	+0.0100%	8h	85,881.1	+0.002%	$3.3M	$6.8M	100x	as long as short
Bulk BTC-USD	+0.0100%	1h	85,951.1	+0.083%	$715.0M	$86.6M	40x	as long as short
Extended BTC-USD	+0.0104%	1h	85,851.8	−0.033%	$47.3M	$191.4M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0056%	1h	85,948.8	+0.080%	—	$79.0M	500x	as long as short
Coinbase International BTC-PERP-INTX	+0.0128%	1h	85,942.8	+0.073%	$112.0M	$4.95B	50x	as long as short
Kalshi KXBTCPERP	+0.0157%	8h	85,940	+0.070%	$13.2M	$739.0M	6.4x	as long as short
RISEx BTC/USDC	+0.0165%	1h	85,955.8	+0.089%	$9.0M	$35.4M	25x	as long as short
Reya BTCRUSDPERP	+0.0173%	1h	85,917.7	+0.044%	$6.6M	$125.0M	40x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0212% / S −0.0259%	1h	85,929.5	+0.058%	$15.8M	—	200x	as long as short
Hyperliquid BTC	+0.0220%	1h	85,990	+0.128%	$3.95B	$4.17B	40x	as long as short
Deribit BTC-PERPETUAL	+0.0258%	1h	85,971.5	+0.107%	$819.4M	$1.49B	50x	as long as short
Hibachi BTC/USDT-P	+0.0296%	1h	85,960.7	+0.094%	$695K	$6.7M	30x	as long as short
Aftermath Perps BTCUSD	+0.0308%	1h	85,913.1	+0.039%	$79K	$228K	20x	as long as short