Funding you earn now, next payment 05:00 UTC+0.0096%/8h= +10.5% APRpaid last 24h +0.029%
Price spread now: Orderly against gTrade (Gains Network)−0.022%7-day average −0.013% · 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)+0.095%+$10 on $10k
+Price spread, last 4 days (all we have)−0.027%−$3 · spread now −0.022%, 7d avg −0.013%
=The price spread sits at its 7-day average of −0.013%, 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 | 85,576.6 | L +0.0004% / S −0.0004% | pay 0.0001% / 1h | 20m 09s | $36.6M | — | 200x |
| Short | Orderly PERP_BTC_USDC | 85,557.5 | 0.0100 | get 0.0100% / 8h | 3h 20m | $2.5M | $8.8M | 100x |
gTrade (Gains Network) BTC/USD
Orderly PERP_BTC_USDCFunding history
latest
Range statsloading…
Price spread between the two exchanges
Orderly 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
- $20.06
- Price spread: −0.022% → −0.013%
- −$0.9
- Slippage, 4 orders
- no order book: not counted
- Fee gTrade (Gains Network): 3.5 bp × 2 orders
- −$7
- Fee Orderly: 3 bp × 2 orders
- −$6
- Net
- $6.16
- Costs to cover
- 0.130%
- Break-even
- 4.8 days
Slippage unknown: gTrade (Gains Network): virtual book (oracle venue), 4 min ago; Orderly: 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), 4 min ago | 0.51 bp | 4.0 bp −$4 | 4.1 bp −$41 | 4.5 bp −$447 | 6.4 bp −$3,184 |
| Sell Orderly no order-book sample | — | — | — | — | — |
Orderly: 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 | −0.0140% | 1h | 85,468 | −0.127% | $2.1M | $10.4M | 40x | as long as short |
| Hotstuff BTC-PERP | −0.0080% | 1h | 85,553 | −0.028% | $8K | $3K | 50x | as long as short |
| KuCoin XBTUSDTM | −0.0043% | 8h | 85,552.5 | −0.028% | $919.8M | $757.5M | 125x | as long as short |
| BloFin BTC-USDT | −0.0026% | 8h | 85,543.9 | −0.038% | $420.0M | $676.3M | 150x | as long as short |
| 01 Exchange BTCUSD | −0.0008% | 1h | 85,581.2 | +0.005% | $365K | $2.3M | 50x | as long as short |
| Aster BTCUSDT | −0.0006% | 8h | 85,544.2 | −0.038% | $515.2M | $1.10B | 200x | as long as short |
| Perpl BTC | 0.0000% | 43m | 85,560.5 | −0.019% | $507K | $18.7M | 6.7x | as long as short |
| Nado BTC-PERP | +0.0001% | 1h | 85,530.1 | −0.054% | $24.5M | $222.9M | 50x | as long as short |
| gTrade (Gains Network) BTC/USDlong | L +0.0004% / S −0.0004% | 1h | 85,576.6 | long leg | $36.6M | — | 200x | |
| dYdX BTC-USD | +0.0033% | 1h | 85,583.7 | +0.008% | $16.8M | $21.2M | 50x | as long as short |
Phoenix BTC
Hotstuff BTC-PERP
KuCoin XBTUSDTM
BloFin BTC-USDT
01 Exchange BTCUSD
Aster BTCUSDT
Perpl BTC
Nado BTC-PERP
dYdX BTC-USDShow all 56 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Injective BTC/USDC PERP | +0.0044% | 1h | 85,552 | −0.029% | $340K | $26.9M | 52x | as long as short |
| SoDEX BTC-USD | +0.0053% | 1h | 85,545 | −0.037% | $59.9M | $336.0M | 40x | as long as short |
| Deribit BTC-PERPETUAL | +0.0063% | 1h | 85,592.8 | +0.019% | $872.0M | $1.60B | 50x | as long as short |
| BingX BTC-USDC | +0.0064% | 8h | 85,514.1 | −0.073% | — | $17.2M | — | as long as short |
| Phemex BTCUSDT | +0.0066% | 8h | 85,542.2 | −0.040% | $148.6M | $496.0M | 150x | as long as short |
| Bitget BTCUSDT | +0.0079% | 8h | 85,529 | −0.056% | $2.95B | $5.12B | 150x | as long as short |
| MEXC BTC_USDT | +0.0094% | 8h | 85,531.4 | −0.053% | $5.07B | $5.67B | 500x | as long as short |
| Binance BTCUSDT | +0.0094% | 8h | 85,549.8 | −0.031% | $9.45B | $24.44B | 150x | as long as short |
| Lighter BTC | +0.0096% | 1h | 85,545.8 | −0.036% | $172.1M | $1.02B | 50x | as long as short |
| Lighter RH BTC | +0.0096% | 1h | 85,553.5 | −0.027% | $23.9M | $148.8M | 50x | as long as short |
| Popdex BTCUSDT | +0.0096% | 1h | 85,565 | −0.014% | $8.4M | $55.0M | 100x | as long as short |
| Aevo BTC-PERP | +0.0096% | 1h | 85,546.2 | −0.036% | $2.8M | $2.2M | 20x | as long as short |
| Katana Perps BTC-USD | +0.0100% | 8h | 85,555 | −0.025% | $230K | $8.4M | 50x | as long as short |
| Paradex BTC-USD-PERP | +0.0100% | 8h | 85,620.8 | +0.052% | $5.7M | $9.4M | 50x | as long as short |
| Hyperliquid BTC | +0.0100% | 1h | 85,615 | +0.045% | $3.79B | $5.02B | 40x | as long as short |
| Pacifica BTC | +0.0100% | 1h | 85,591 | +0.017% | $40.2M | $588.0M | 50x | as long as short |
| Bybit BTCUSDT | +0.0100% | 8h | 85,550.3 | −0.031% | $5.18B | $9.87B | 150x | as long as short |
| OKX BTC-USDT-SWAP | +0.0100% | 8h | 85,557 | −0.023% | $2.59B | $12.14B | 100x | as long as short |
| Ondo Perps BTC-USD.P | +0.0100% | 1h | 85,545 | −0.037% | $3.8M | $17.8M | 25x | as long as short |
| Arcus BTC-USD | +0.0100% | 1h | 85,565.9 | −0.013% | $4.7M | $99.9M | 40x | as long as short |
| Gate BTC_USDT | +0.0100% | 8h | 85,540.4 | −0.042% | $5.54B | $10.83B | 200x | as long as short |
| Backpack BTC_USDC_PERP | +0.0100% | 1h | 85,531.6 | −0.053% | $36.1M | $178.8M | 75x | as long as short |
| Variational Omni BTC | +0.0100% | 8h | 85,535 | −0.049% | $154.3M | $565.4M | — | as long as short |
| edgeX BTCUSDC | +0.0100% | 4h | 85,431.3 | −0.170% | $279.0M | $929.7M | 100x | as long as short |
| GRVT BTC_USDT_Perp | +0.0100% | 8h | 85,439.6 | −0.160% | $214.7M | $168.8M | 50x | as long as short |
| ApeX Omni BTCUSDT | +0.0100% | 1h | 85,456.2 | −0.141% | $139.8M | $315.9M | 100x | as long as short |
| StandX BTC-USD | +0.0100% | 1h | 85,525.5 | −0.060% | $30.2M | $207.0M | 40x | as long as short |
| Vest BTC-PERP | +0.0100% | 1h | 85,611.7 | +0.041% | — | $11.0M | 50x | as long as short |
| Polymarket Perps BTC-USD | +0.0100% | 1h | 85,568 | −0.010% | $11.1M | $14.3M | 50x | as long as short |
| Bullet BTC-USD | +0.0100% | 1h | 85,561.6 | −0.018% | $202K | $3.3M | 20x | as long as short |
| Orderly PERP_BTC_USDCshort | +0.0100% | 8h | 85,557.5 | −0.022% | $2.5M | $8.8M | 100x | |
| Bluefin BTC-PERP | +0.0100% | 1h | 85,611 | +0.040% | $207K | $738K | 40x | as long as short |
| Derive BTC-PERP | +0.0100% | 1h | 85,548.1 | −0.033% | $30.0M | $50.1M | 15x | as long as short |
| SunX BTC-USDT | +0.0100% | 8h | 85,545.7 | −0.036% | $2.9M | $6.1M | 100x | as long as short |
| HTX BTC-USDT | +0.0100% | 8h | 85,543 | −0.039% | $2.26B | $949.7M | 200x | as long as short |
| Bulk BTC-USD | +0.0100% | 1h | 85,447 | −0.151% | $679.5M | $701.9M | 40x | as long as short |
| Reya BTCRUSDPERP | +0.0102% | 1h | 85,559.9 | −0.020% | $6.6M | $147.1M | 40x | as long as short |
| Extended BTC-USD | +0.0104% | 1h | 85,525.4 | −0.060% | $45.6M | $234.8M | 50x | as long as short |
| Jupiter Perps WBTC-PERP | L +0.0104% / S +0.0048% | 1h | 85,556.6 | −0.023% | — | $106.3M | 500x | as long as short |
| Coinbase International BTC-PERP-INTX | +0.0104% | 1h | 85,579.7 | +0.004% | $117.2M | $5.26B | 50x | as long as short |
| Kraken Futures PF_XBTUSD | +0.0135% | 1h | 85,565.4 | −0.013% | $188.0M | $957.0M | 100x | as long as short |
| Kalshi KXBTCPERP | +0.0169% | 8h | 85,601 | +0.029% | $11.5M | $754.0M | 6.4x | as long as short |
| RISEx BTC/USDC | +0.0174% | 1h | 85,600 | +0.027% | $8.7M | $42.9M | 25x | as long as short |
| GMX BTC/USD [WBTC.b-USDC] | L +0.0176% / S −0.0149% | 1h | 85,578.6 | +0.002% | $13.1M | — | 200x | as long as short |
| Hibachi BTC/USDT-P | +0.0240% | 1h | 85,593.2 | +0.019% | $701K | $7.9M | 30x | as long as short |
| Aftermath Perps BTCUSD | +0.0247% | 1h | 85,522.6 | −0.063% | $78K | $222K | 20x | as long as short |
Injective BTC/USDC PERP
SoDEX BTC-USD
Deribit BTC-PERPETUAL
BingX BTC-USDC
Phemex BTCUSDT
Bitget BTCUSDT
MEXC BTC_USDT
Binance BTCUSDT
Lighter BTC
Lighter RH BTC
Popdex BTCUSDT
Aevo BTC-PERP
Katana Perps BTC-USD
Paradex BTC-USD-PERP
Hyperliquid BTC
Pacifica BTC
Bybit BTCUSDT
OKX BTC-USDT-SWAP
Ondo Perps BTC-USD.P
Arcus BTC-USD
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
Polymarket Perps BTC-USD
Bullet BTC-USD
Bluefin BTC-PERP
Derive BTC-PERP
SunX BTC-USDT
HTX BTC-USDT
Bulk BTC-USD
Reya BTCRUSDPERP
Extended BTC-USD
Jupiter Perps WBTC-PERP
Coinbase International BTC-PERP-INTX
Kraken Futures PF_XBTUSD
Kalshi KXBTCPERP
RISEx BTC/USDC
GMX BTC/USD [WBTC.b-USDC]
Hibachi BTC/USDT-P
Aftermath Perps BTCUSD