BTC

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0124%/8h= +13.6% APRnext payment +$0.15 per $10,000 · paid last 24h +0.054%

Price spread now: GMX against dYdX−0.023%7-day average +0.026% · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on dYdX Short on GMX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.168%+$17 on $10k

Price spread, last 4 days (all we have)−0.039%−$4 · spread now −0.023%, 7d avg +0.026%

Together, before fees+0.128%+$13 on $10k · with fees, hour by hour

Funding pays, the price is against you. GMX is 0.049% cheaper against dYdX than usual: you would sell low and buy high (spread −0.023% now, against its 7-day average of +0.026%). If the spread goes back, that is −$5 on $10k: about 31 hours of funding at the current rate (+$4 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	dYdX BTC-USD	85,738.3	0.0051	pay 0.0006% / 1h	22m 09s	$16.8M	$20.7M	50x
Short	GMX BTC/USD [WBTC.b-USDC]	85,718.7	L +0.0198% / S −0.0175%	get 0.0022% / 1h	22m 09s	$12.9M	—	200x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX 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 GMXbpOrdersPrice spread, now −0.023%Rate

Funding earned: $26.02
Price spread: −0.023% → +0.026%: −$4.86
Slippage, 4 orders: no order book: not counted
Fee dYdX: 5 bp × 2 orders: −$10
Fee GMX: 6 bp × 2 orders: −$12
Net: −$0.84
Costs to cover: 0.220%
Break-even: 7.2 days

Slippage unknown: dYdX: live order book, 2 min ago; GMX: 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 dYdX live order book, 2 min ago	0.06 bp	12.2 bp −$12	14.4 bp −$144	17.1 bp −$1,715	41.0 bp −$20.5K
Sell GMX no order-book sample	—	—	—	—	—

GMX: 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	−0.0784%	1h	85,854.9	+0.136%	$195K	$785K	40x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	85,694	−0.052%	$8K	$2K	50x	as long as short
BloFin BTC-USDT	−0.0020%	8h	85,706.9	−0.037%	$425.8M	$654.2M	150x	as long as short
Injective BTC/USDC PERP	−0.0006%	1h	85,652	−0.101%	$307K	$26.2M	52x	as long as short
01 Exchange BTCUSD	0.0000%	1h	85,741.1	+0.003%	$355K	$2.2M	50x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0004% / S −0.0004%	1h	85,818	+0.093%	$36.7M	—	200x	as long as short
KuCoin XBTUSDTM	+0.0022%	8h	85,772	+0.039%	$944.6M	$755.2M	125x	as long as short
Aster BTCUSDT	+0.0039%	8h	85,756	+0.021%	$504.5M	$1.05B	200x	as long as short
dYdX BTC-USDlong	+0.0051%	1h	85,738.3	long leg	$16.8M	$20.7M	50x
Kraken Futures PF_XBTUSD	+0.0068%	1h	85,805	+0.078%	$186.5M	$911.9M	100x	as long as short

Show all 56 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phoenix BTC	+0.0075%	1h	85,520	−0.255%	$2.3M	$10.4M	40x	as long as short
BingX BTC-USDC	+0.0080%	8h	85,792.6	+0.063%	—	$17.3M	—	as long as short
Nado BTC-PERP	+0.0083%	1h	85,738.8	+0.001%	$24.4M	$213.6M	50x	as long as short
Lighter BTC	+0.0096%	1h	85,787.9	+0.058%	$172.1M	$952.7M	50x	as long as short
Lighter RH BTC	+0.0096%	1h	85,792.1	+0.063%	$23.3M	$136.0M	50x	as long as short
Popdex BTCUSDT	+0.0096%	1h	85,742	+0.004%	$8.7M	$56.0M	100x	as long as short
Aevo BTC-PERP	+0.0096%	1h	85,785.2	+0.055%	$2.4M	$6.7M	20x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	85,726	−0.014%	$266K	$8.6M	50x	as long as short
Paradex BTC-USD-PERP	+0.0100%	8h	85,791.2	+0.062%	$5.8M	$9.3M	50x	as long as short
Pacifica BTC	+0.0100%	1h	85,783.5	+0.053%	$40.4M	$602.4M	50x	as long as short
Binance BTCUSDT	+0.0100%	8h	85,769.8	+0.037%	$9.42B	$24.39B	150x	as long as short
Bybit BTCUSDT	+0.0100%	8h	85,782	+0.051%	$5.10B	$9.68B	150x	as long as short
OKX BTC-USDT-SWAP	+0.0100%	8h	85,808.4	+0.082%	$2.62B	$11.65B	100x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	85,726	−0.014%	$3.9M	$17.1M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	85,755.2	+0.020%	$5.0M	$96.4M	40x	as long as short
Bulk BTC-USD	+0.0100%	1h	85,303.3	−0.507%	$702.0M	$164.8M	40x	as long as short
Gate BTC_USDT	+0.0100%	8h	85,817	+0.092%	$5.52B	$9.98B	200x	as long as short
MEXC BTC_USDT	+0.0100%	8h	85,785.2	+0.055%	$5.07B	$5.79B	500x	as long as short
Bitget BTCUSDT	+0.0100%	8h	85,813	+0.087%	$2.99B	$4.92B	150x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	85,801.4	+0.074%	$37.8M	$191.9M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	85,352.3	−0.450%	$155.8M	$535.0M	—	as long as short
edgeX BTCUSDC	+0.0100%	4h	85,427	−0.363%	$285.6M	$964.7M	100x	as long as short
GRVT BTC_USDT_Perp	+0.0100%	8h	85,464	−0.320%	$214.5M	$157.0M	50x	as long as short
ApeX Omni BTCUSDT	+0.0100%	1h	85,415	−0.377%	$136.6M	$312.0M	100x	as long as short
StandX BTC-USD	+0.0100%	1h	85,531.9	−0.241%	$30.2M	$217.2M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	85,818.3	+0.093%	—	$9.8M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	85,775	+0.043%	$10.9M	$14.2M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	85,808.4	+0.082%	$210K	$3.3M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	85,812.3	+0.086%	$2.6M	$9.8M	100x	as long as short
Derive BTC-PERP	+0.0100%	1h	85,444.6	−0.342%	$28.8M	$52.4M	15x	as long as short
SunX BTC-USDT	+0.0100%	8h	85,792.7	+0.063%	$3.1M	$7.0M	100x	as long as short
SoDEX BTC-USD	+0.0100%	1h	85,788	+0.058%	$60.0M	$311.8M	40x	as long as short
HTX BTC-USDT	+0.0100%	8h	85,777	+0.045%	$2.27B	$948.2M	200x	as long as short
Phemex BTCUSDT	+0.0100%	8h	85,787.8	+0.058%	$165.6M	$509.2M	150x	as long as short
Extended BTC-USD	+0.0104%	1h	85,769	+0.036%	$45.7M	$236.8M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0056%	1h	85,755.5	+0.020%	—	$103.9M	500x	as long as short
Coinbase International BTC-PERP-INTX	+0.0112%	1h	85,833	+0.110%	$112.1M	$5.40B	50x	as long as short
Reya BTCRUSDPERP	+0.0151%	1h	85,769.4	+0.036%	$6.6M	$135.8M	40x	as long as short
Hyperliquid BTC	+0.0156%	1h	85,888	+0.175%	$3.86B	$4.74B	40x	as long as short
Kalshi KXBTCPERP	+0.0190%	8h	85,767	+0.034%	$10.8M	$734.3M	6.4x	as long as short
RISEx BTC/USDC	+0.0194%	1h	85,776.3	+0.044%	$9.0M	$41.7M	25x	as long as short
GMX BTC/USD [WBTC.b-USDC]short	L +0.0198% / S −0.0175%	1h	85,718.7	−0.023%	$12.9M	—	200x
Deribit BTC-PERPETUAL	+0.0218%	1h	85,833.8	+0.111%	$833.2M	$1.64B	50x	as long as short
Hibachi BTC/USDT-P	+0.0344%	1h	85,721.6	−0.019%	$694K	$7.5M	30x	as long as short
Aftermath Perps BTCUSD	+0.0348%	1h	85,560.4	−0.207%	$81K	$259K	20x	as long as short
Perpl BTC	+0.0447%	43m	85,792.3	+0.063%	$459K	$17.3M	6.7x	as long as short