Funding you earn now, next payment 00:00 UTC−0.0085%/8h= −9.3% APRnext payment −$0.11 per $10,000 · paid last 24h −0.025%
Price spread now: Hotstuff against gTrade (Gains Network)−0.032%7-day average — · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 3 days (all we have)—no history yet
+Price spread, last 7 days—no price history on both exchanges yet
=Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and Hotstuff is 0.032% cheaper against gTrade (Gains Network) than usual: you would sell low and buy high (−$3 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | gTrade (Gains Network) BTC/USD | 86,387.9 | L +0.0005% / S −0.0004% | pay 0.0001% / 1h | 21m 22s | $36.8M | — | 200x |
| Short | Hotstuff BTC-PERP | 86,360 | −0.0080 | pay 0.0010% / 1h | 21m 22s | $9K | $3K | 50x |
gTrade (Gains Network) BTC/USD
Hotstuff BTC-PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Hotstuff 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
- −$17.78
- Price spread: −0.032% → 0.000%
- −$3.23
- Slippage, 4 orders
- no order book: not counted
- Fee gTrade (Gains Network): 3.5 bp × 2 orders
- −$7
- Fee Hotstuff: 2.5 bp × 2 orders
- −$5
- Net
- −$33.01
- Costs to cover
- 0.120%
- Break-even
- never at this rate
Slippage unknown: gTrade (Gains Network): virtual book (oracle venue), 3 min ago; Hotstuff: 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 gTrade (Gains Network) virtual book (oracle venue), 3 min ago | 0.51 bp | 4.0 bp −$4 | 4.1 bp −$41 | 4.5 bp −$446 | 6.4 bp −$3,183 |
| Sell Hotstuff no order-book sample | — | — | — | — | — |
Hotstuff: 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 | −0.0118% | 1h | 86,367 | −0.024% | $2.2M | $11.8M | 40x | as long as short |
| Hotstuff BTC-PERPshort | −0.0080% | 1h | 86,360 | −0.032% | $9K | $3K | 50x | |
| Injective BTC/USDC PERP | −0.0035% | 1h | 86,345 | −0.050% | $332K | $26.9M | 52x | as long as short |
| RISEx BTC/USDC | −0.0024% | 1h | 86,394 | +0.007% | $8.3M | $42.8M | 25x | as long as short |
| 01 Exchange BTCUSD | −0.0016% | 1h | 86,392.5 | +0.005% | $359K | $2.5M | 50x | as long as short |
| Aster BTCUSDT | −0.0001% | 8h | 86,380.7 | −0.008% | $501.2M | $1.15B | 200x | as long as short |
| Perpl BTC | 0.0000% | 43m | 86,418.6 | +0.036% | $412K | $22.9M | 6.7x | as long as short |
| gTrade (Gains Network) BTC/USDlong | L +0.0005% / S −0.0004% | 1h | 86,387.9 | long leg | $36.8M | — | 200x | |
| KuCoin XBTUSDTM | +0.0017% | 8h | 86,378.2 | −0.011% | $852.6M | $715.8M | 125x | as long as short |
| Reya BTCRUSDPERP | +0.0033% | 1h | 86,384 | −0.004% | $6.7M | $145.5M | 40x | as long as short |
Phoenix BTC
Injective BTC/USDC PERP
RISEx BTC/USDC
01 Exchange BTCUSD
Aster BTCUSDT
Perpl BTC
KuCoin XBTUSDTM
Reya BTCRUSDPERPShow all 56 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Deribit BTC-PERPETUAL | +0.0039% | 1h | 86,395.3 | +0.009% | $914.0M | $1.48B | 50x | as long as short |
| BingX BTC-USDT | +0.0042% | 8h | 86,376.5 | −0.013% | — | $1.59B | — | as long as short |
| Bitget BTCUSDT | +0.0052% | 8h | 86,350.3 | −0.044% | $2.96B | $5.13B | 150x | as long as short |
| Phemex BTCUSDT | +0.0054% | 8h | 86,361.3 | −0.031% | $150.1M | $478.8M | 150x | as long as short |
| dYdX BTC-USD | +0.0060% | 1h | 86,411.1 | +0.027% | $16.9M | $21.2M | 50x | as long as short |
| Aevo BTC-PERP | +0.0064% | 1h | 86,346.4 | −0.048% | $2.4M | $1.3M | 20x | as long as short |
| MEXC BTC_USDT | +0.0068% | 8h | 86,384.1 | −0.004% | $5.16B | $5.67B | 500x | as long as short |
| Binance BTCUSDT | +0.0069% | 8h | 86,377.2 | −0.012% | $9.42B | $24.59B | 150x | as long as short |
| Gate BTC_USDT | +0.0081% | 8h | 86,380.7 | −0.008% | $5.85B | $10.78B | 200x | as long as short |
| SoDEX BTC-USD | +0.0089% | 1h | 86,354 | −0.039% | $60.4M | $338.1M | 40x | as long as short |
| Lighter BTC | +0.0096% | 1h | 86,392.2 | +0.005% | $170.1M | $1.02B | 50x | as long as short |
| Lighter RH BTC | +0.0096% | 1h | 86,404 | +0.019% | $23.9M | $152.5M | 50x | as long as short |
| Popdex BTCUSDT | +0.0096% | 1h | 86,392 | +0.005% | $8.4M | $52.4M | 100x | as long as short |
| Bybit BTCUSDT | +0.0097% | 8h | 86,367.3 | −0.024% | $5.26B | $9.80B | 150x | as long as short |
| Katana Perps BTC-USD | +0.0100% | 8h | 86,363 | −0.029% | $202K | $7.1M | 50x | as long as short |
| Paradex BTC-USD-PERP | +0.0100% | 8h | 86,430.7 | +0.050% | $4.8M | $8.5M | 50x | as long as short |
| Nado BTC-PERP | +0.0100% | 1h | 86,396.5 | +0.010% | $21.9M | $234.5M | 50x | as long as short |
| Hyperliquid BTC | +0.0100% | 1h | 86,460 | +0.083% | $3.79B | $5.10B | 40x | as long as short |
| Pacifica BTC | +0.0100% | 1h | 86,417.2 | +0.034% | $41.0M | $529.8M | 50x | as long as short |
| OKX BTC-USDT-SWAP | +0.0100% | 8h | 86,365 | −0.027% | $2.55B | $12.72B | 100x | as long as short |
| Ondo Perps BTC-USD.P | +0.0100% | 1h | 86,397 | +0.011% | $3.9M | $18.7M | 25x | as long as short |
| Arcus BTC-USD | +0.0100% | 1h | 86,425.6 | +0.044% | $7.4M | $95.5M | 40x | as long as short |
| Backpack BTC_USDC_PERP | +0.0100% | 1h | 86,402.9 | +0.017% | $38.0M | $156.7M | 75x | as long as short |
| Variational Omni BTC | +0.0100% | 8h | 86,376.4 | −0.013% | $157.0M | $568.3M | — | as long as short |
| edgeX BTCUSDC | +0.0100% | 4h | 86,328.2 | −0.069% | $278.8M | $946.3M | 100x | as long as short |
| GRVT BTC_USDT_Perp | +0.0100% | 8h | 86,354.3 | −0.039% | $216.8M | $171.7M | 50x | as long as short |
| ApeX Omni BTCUSDT | +0.0100% | 1h | 86,355.9 | −0.037% | $141.2M | $323.0M | 100x | as long as short |
| StandX BTC-USD | +0.0100% | 1h | 86,377.3 | −0.012% | $30.6M | $205.3M | 40x | as long as short |
| Vest BTC-PERP | +0.0100% | 1h | 86,432.1 | +0.051% | — | $11.9M | 50x | as long as short |
| Polymarket Perps BTC-USD | +0.0100% | 1h | 86,391 | +0.004% | $11.1M | $13.9M | 50x | as long as short |
| Bullet BTC-USD | +0.0100% | 1h | 86,382.9 | −0.006% | $190K | $3.3M | 20x | as long as short |
| Orderly PERP_BTC_USDC | +0.0100% | 8h | 86,352.1 | −0.041% | $2.4M | $9.4M | 100x | as long as short |
| Bluefin BTC-PERP | +0.0100% | 1h | 86,379.4 | −0.010% | $140K | $664K | 40x | as long as short |
| Derive BTC-PERP | +0.0100% | 1h | 86,387.9 | 0.000% | $30.5M | $62.6M | 15x | as long as short |
| SunX BTC-USDT | +0.0100% | 8h | 86,402.6 | +0.017% | $3.4M | $5.3M | 100x | as long as short |
| HTX BTC-USDT | +0.0100% | 8h | 86,350.1 | −0.044% | $2.29B | $968.1M | 200x | as long as short |
| Bulk BTC-USD | +0.0100% | 1h | 86,464.9 | +0.089% | $572.1M | $16.9M | 40x | as long as short |
| Extended BTC-USD | +0.0104% | 1h | 86,336.4 | −0.060% | $45.6M | $227.5M | 50x | as long as short |
| Jupiter Perps WBTC-PERP | L +0.0104% / S +0.0048% | 1h | 86,421.4 | +0.039% | — | $99.0M | 500x | as long as short |
| Kraken Futures PF_XBTUSD | +0.0110% | 1h | 86,385.3 | −0.003% | $191.7M | $953.9M | 100x | as long as short |
| Coinbase International BTC-PERP-INTX | +0.0112% | 1h | 86,408.2 | +0.023% | $132.2M | $5.64B | 50x | as long as short |
| Aftermath Perps BTCUSD | +0.0154% | 1h | 86,432.6 | +0.052% | $78K | $219K | 20x | as long as short |
| Hibachi BTC/USDT-P | +0.0184% | 1h | 86,447.2 | +0.069% | $728K | $8.0M | 30x | as long as short |
| BloFin BTC-USDT | +0.0189% | 8h | 86,357.9 | −0.035% | $415.7M | $658.0M | 150x | as long as short |
| GMX BTC/USD [WBTC.b-USDC] | L +0.0197% / S −0.0220% | 1h | 86,390.8 | +0.003% | $15.0M | — | 200x | as long as short |
| Kalshi KXBTCPERP | +0.0206% | 8h | 86,419 | +0.036% | $9.8M | $749.8M | 6.4x | as long as short |
Deribit BTC-PERPETUAL
BingX BTC-USDT
Bitget BTCUSDT
Phemex BTCUSDT
dYdX BTC-USD
Aevo BTC-PERP
MEXC BTC_USDT
Binance BTCUSDT
Gate BTC_USDT
SoDEX BTC-USD
Lighter BTC
Lighter RH BTC
Popdex BTCUSDT
Bybit BTCUSDT
Katana Perps BTC-USD
Paradex BTC-USD-PERP
Nado BTC-PERP
Hyperliquid BTC
Pacifica BTC
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
Bluefin BTC-PERP
Derive BTC-PERP
SunX BTC-USDT
HTX BTC-USDT
Bulk BTC-USD
Extended BTC-USD
Jupiter Perps WBTC-PERP
Kraken Futures PF_XBTUSD
Coinbase International BTC-PERP-INTX
Aftermath Perps BTCUSD
Hibachi BTC/USDT-P
BloFin BTC-USDT
GMX BTC/USD [WBTC.b-USDC]
Kalshi KXBTCPERP