Funding you earn now, next payment 08:00 UTC+0.0093%/8h= +10.1% APRnext payment +$0.12 per $10,000 · paid last 24h +0.054%
Price spread now: Deribit against gTrade (Gains Network)+0.040%7-day average +0.037% · 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−$15as in the Price arb table
costs, in and out, $10k−$150.151% of the position
Funding, last 3 days (all we have)+0.118%+$12 on $10k
+Price spread, last 4 days (all we have)−0.034%−$3 · spread now +0.040%, 7d avg +0.037%
=The price spread sits at its 7-day average of +0.037%, so right now this pair is about funding alone: +$3 a day on $10k at the current rate.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | gTrade (Gains Network) BTC/USD | 85,273.2 | L +0.0004% / S −0.0004% | pay 0.0001% / 1h | 13m 51s | $36.5M | — | 200x |
| Short | Deribit BTC-PERPETUAL | 85,306.9 | 0.0097 | get 0.0012% / 1h | 13m 51s | $836.0M | $1.67B | 50x |
gTrade (Gains Network) BTC/USD
Deribit BTC-PERPETUALFunding history
latest
Range statsloading…
Price spread between the two exchanges
Deribit against gTrade (Gains Network). 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
- $19.45
- Price spread: +0.040% → +0.037%
- $0.26
- Slippage, 4 orders
- −$1.09
- Fee gTrade (Gains Network): 3.5 bp × 2 orders
- −$7
- Fee Deribit: 3.5 bp × 2 orders
- −$7
- Net
- $4.62
- Costs to cover
- 0.151%
- Break-even
- 5.3 days
Slippage from gTrade (Gains Network): virtual book (oracle venue), just now; Deribit: live order book, 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 gTrade (Gains Network) virtual book (oracle venue), just now | 0.51 bp | 4.0 bp −$4 | 4.1 bp −$41 | 4.5 bp −$446 | 6.4 bp −$3,182 |
| Sell Deribit live order book, 5 min ago | 0.03 bp | 3.5 bp −$4 | 3.5 bp −$35 | 6.7 bp −$671 | 12.8 bp −$6,424 |
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 | |
|---|---|---|---|---|---|---|---|---|
| Hotstuff BTC-PERP | −0.0080% | 1h | 85,215 | −0.068% | $8K | $3K | 50x | as long as short |
| Phoenix BTC | −0.0034% | 1h | 85,263 | −0.012% | $2.3M | $10.8M | 40x | as long as short |
| BloFin BTC-USDT | −0.0020% | 8h | 85,190.7 | −0.097% | $421.1M | $686.1M | 150x | as long as short |
| KuCoin XBTUSDTM | −0.0012% | 8h | 85,287 | +0.016% | $927.7M | $777.9M | 125x | as long as short |
| 01 Exchange BTCUSD | 0.0000% | 1h | 85,250 | −0.027% | $343K | $2.3M | 50x | as long as short |
| gTrade (Gains Network) BTC/USDlong | L +0.0004% / S −0.0004% | 1h | 85,273.2 | long leg | $36.5M | — | 200x | |
| Aster BTCUSDT | +0.0006% | 8h | 85,272 | −0.001% | $509.4M | $1.08B | 200x | as long as short |
| dYdX BTC-USD | +0.0017% | 1h | 85,277.8 | +0.005% | $16.7M | $21.0M | 50x | as long as short |
| Kraken Futures PF_XBTUSD | +0.0026% | 1h | 85,293.7 | +0.024% | $185.8M | $954.6M | 100x | as long as short |
| BingX BTC-USDT | +0.0064% | 8h | 85,286.5 | +0.016% | — | $1.58B | — | as long as short |
Hotstuff BTC-PERP
Phoenix BTC
BloFin BTC-USDT
KuCoin XBTUSDTM
01 Exchange BTCUSD
Aster BTCUSDT
dYdX BTC-USD
Kraken Futures PF_XBTUSD
BingX BTC-USDTShow all 56 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Injective BTC/USDC PERP | +0.0067% | 1h | 85,331 | +0.068% | $311K | $25.5M | 52x | as long as short |
| Bybit BTCUSDT | +0.0081% | 8h | 85,274.1 | +0.001% | $5.09B | $10.04B | 150x | as long as short |
| ApeX Omni BTCUSDT | +0.0084% | 1h | 85,241.3 | −0.037% | $139.6M | $312.5M | 100x | as long as short |
| Nado BTC-PERP | +0.0089% | 1h | 85,199.8 | −0.086% | $24.0M | $220.9M | 50x | as long as short |
| Lighter BTC | +0.0096% | 1h | 85,288.6 | +0.018% | $168.7M | $1.02B | 50x | as long as short |
| Lighter RH BTC | +0.0096% | 1h | 85,283.4 | +0.012% | $23.6M | $148.9M | 50x | as long as short |
| Popdex BTCUSDT | +0.0096% | 1h | 85,230 | −0.051% | $8.4M | $57.7M | 100x | as long as short |
| Aevo BTC-PERP | +0.0096% | 1h | 85,264.5 | −0.010% | $2.4M | $6.7M | 20x | as long as short |
| Deribit BTC-PERPETUALshort | +0.0097% | 1h | 85,306.9 | +0.040% | $836.0M | $1.67B | 50x | |
| Bitget BTCUSDT | +0.0098% | 8h | 85,270.9 | −0.003% | $2.97B | $5.21B | 150x | as long as short |
| Katana Perps BTC-USD | +0.0100% | 8h | 85,208 | −0.076% | $268K | $8.7M | 50x | as long as short |
| Paradex BTC-USD-PERP | +0.0100% | 8h | 85,289.8 | +0.019% | $5.8M | $9.6M | 50x | as long as short |
| Hyperliquid BTC | +0.0100% | 1h | 85,362 | +0.104% | $3.79B | $5.11B | 40x | as long as short |
| Pacifica BTC | +0.0100% | 1h | 85,260 | −0.015% | $40.3M | $604.7M | 50x | as long as short |
| Binance BTCUSDT | +0.0100% | 8h | 85,277.4 | +0.005% | $9.39B | $25.17B | 150x | as long as short |
| OKX BTC-USDT-SWAP | +0.0100% | 8h | 85,277.9 | +0.006% | $2.60B | $12.27B | 100x | as long as short |
| Ondo Perps BTC-USD.P | +0.0100% | 1h | 85,233 | −0.047% | $3.8M | $17.3M | 25x | as long as short |
| Arcus BTC-USD | +0.0100% | 1h | 85,247.2 | −0.030% | $4.7M | $97.5M | 40x | as long as short |
| Gate BTC_USDT | +0.0100% | 8h | 85,289.5 | +0.019% | $5.49B | $11.15B | 200x | as long as short |
| MEXC BTC_USDT | +0.0100% | 8h | 85,296.8 | +0.028% | $5.03B | $5.77B | 500x | as long as short |
| Backpack BTC_USDC_PERP | +0.0100% | 1h | 85,286.5 | +0.016% | $36.9M | $189.9M | 75x | as long as short |
| Variational Omni BTC | +0.0100% | 8h | 85,180.5 | −0.109% | $155.7M | $548.1M | — | as long as short |
| edgeX BTCUSDC | +0.0100% | 4h | 85,195.5 | −0.091% | $282.5M | $959.3M | 100x | as long as short |
| GRVT BTC_USDT_Perp | +0.0100% | 8h | 85,244.3 | −0.034% | $214.2M | $159.5M | 50x | as long as short |
| StandX BTC-USD | +0.0100% | 1h | 85,210.2 | −0.074% | $30.0M | $212.8M | 40x | as long as short |
| Vest BTC-PERP | +0.0100% | 1h | 85,311.6 | +0.045% | — | $10.6M | 50x | as long as short |
| Polymarket Perps BTC-USD | +0.0100% | 1h | 85,253 | −0.024% | $10.9M | $15.0M | 50x | as long as short |
| Bullet BTC-USD | +0.0100% | 1h | 85,258 | −0.018% | $195K | $3.3M | 20x | as long as short |
| Orderly PERP_BTC_USDC | +0.0100% | 8h | 85,278.8 | +0.007% | $2.6M | $9.8M | 100x | as long as short |
| Bluefin BTC-PERP | +0.0100% | 1h | 85,315.5 | +0.050% | $194K | $796K | 40x | as long as short |
| Derive BTC-PERP | +0.0100% | 1h | 85,286.9 | +0.016% | $29.0M | $45.1M | 15x | as long as short |
| SunX BTC-USDT | +0.0100% | 8h | 85,182.1 | −0.107% | $2.9M | $6.1M | 100x | as long as short |
| SoDEX BTC-USD | +0.0100% | 1h | 85,272 | −0.001% | $59.7M | $336.5M | 40x | as long as short |
| HTX BTC-USDT | +0.0100% | 8h | 85,258 | −0.018% | $2.25B | $973.8M | 200x | as long as short |
| Phemex BTCUSDT | +0.0100% | 8h | 85,276.7 | +0.004% | $159.0M | $516.0M | 150x | as long as short |
| Bulk BTC-USD | +0.0100% | 1h | 85,240 | −0.039% | $693.3M | $214.1M | 40x | as long as short |
| Extended BTC-USD | +0.0104% | 1h | 85,272.4 | −0.001% | $45.4M | $241.2M | 50x | as long as short |
| Jupiter Perps WBTC-PERP | L +0.0104% / S +0.0056% | 1h | 85,279 | +0.007% | — | $106.7M | 500x | as long as short |
| Coinbase International BTC-PERP-INTX | +0.0104% | 1h | 85,314.7 | +0.049% | $111.9M | $5.48B | 50x | as long as short |
| Reya BTCRUSDPERP | +0.0142% | 1h | 85,177.4 | −0.112% | $6.6M | $142.4M | 40x | as long as short |
| Kalshi KXBTCPERP | +0.0171% | 8h | 85,259 | −0.017% | $12.1M | $737.7M | 6.4x | as long as short |
| RISEx BTC/USDC | +0.0174% | 1h | 85,254.6 | −0.022% | $8.8M | $42.9M | 25x | as long as short |
| GMX BTC/USD [WBTC.b-USDC] | L +0.0174% / S −0.0146% | 1h | 85,196.3 | −0.090% | $13.0M | — | 200x | as long as short |
| Hibachi BTC/USDT-P | +0.0256% | 1h | 85,239.3 | −0.040% | $694K | $7.7M | 30x | as long as short |
| Aftermath Perps BTCUSD | +0.0297% | 1h | 85,250.5 | −0.027% | $81K | $245K | 20x | as long as short |
| Perpl BTC | +0.0447% | 43m | 85,247.2 | −0.030% | $465K | $18.3M | 6.7x | as long as short |
Injective BTC/USDC PERP
Bybit BTCUSDT
ApeX Omni BTCUSDT
Nado BTC-PERP
Lighter BTC
Lighter RH BTC
Popdex BTCUSDT
Aevo BTC-PERP
Bitget BTCUSDT
Katana Perps BTC-USD
Paradex BTC-USD-PERP
Hyperliquid BTC
Pacifica BTC
Binance BTCUSDT
OKX BTC-USDT-SWAP
Ondo Perps BTC-USD.P
Arcus BTC-USD
Gate BTC_USDT
MEXC BTC_USDT
Backpack BTC_USDC_PERP
Variational Omni BTC
edgeX BTCUSDC
GRVT BTC_USDT_Perp
StandX BTC-USD
Vest BTC-PERP
Polymarket Perps BTC-USD
Bullet BTC-USD
Orderly PERP_BTC_USDC
Bluefin BTC-PERP
Derive BTC-PERP
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
Reya BTCRUSDPERP
Kalshi KXBTCPERP
RISEx BTC/USDC
GMX BTC/USD [WBTC.b-USDC]
Hibachi BTC/USDT-P
Aftermath Perps BTCUSD
Perpl BTC