BTC

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0012%/8h= +1.3% APRnext payment +$0.12 per $10,000 · paid last 24h +0.017%

Price spread now: Orderly against Gate−0.008%7-day average +0.003% · you buy dearer than you sell

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

Long on Gate Short on Orderly

What this pair did over the last

the charts below follow

Funding, last 7 days+0.101%+$10 on $10k

Price spread, last 3 days (all we have)0.000%$0 · spread now −0.008%, 7d avg +0.003%

Together, before fees+0.101%+$10 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.003%, so right now this pair is about funding alone: $0 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate BTC_USDT	86,149.9	0.0088	pay 0.0088% / 8h	7h 07m	$5.77B	$10.65B	200x
Short	Orderly PERP_BTC_USDC	86,143.3	0.0100	get 0.0100% / 8h	7h 07m	$2.4M	$9.1M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly against Gate. 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 GatebpFee OrderlybpOrdersPrice spread, now −0.008%Rate

Funding earned: $2.52
Price spread: −0.008% → +0.003%: −$1.08
Slippage, 4 orders: no order book: not counted
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Orderly: 3 bp × 2 orders: −$6
Net: −$19.56
Costs to cover: 0.210%
Break-even: 61.3 days

Slippage unknown: Gate: live order book, 1 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 Gate live order book, 1 min ago	0.01 bp	7.5 bp −$8	8.1 bp −$81	8.7 bp −$871	19.2 bp −$9,621
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	−0.0129%	1h	86,215	+0.076%	$2.2M	$11.2M	40x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	86,158	+0.009%	$9K	$3K	50x	as long as short
01 Exchange BTCUSD	−0.0040%	1h	86,113.1	−0.043%	$363K	$2.3M	50x	as long as short
Perpl BTC	0.0000%	43m	86,127.2	−0.026%	$582K	$21.2M	6.7x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0004% / S −0.0004%	1h	86,166.4	+0.019%	$36.8M	—	200x	as long as short
Injective BTC/USDC PERP	+0.0023%	1h	86,365	+0.250%	$343K	$26.9M	52x	as long as short
dYdX BTC-USD	+0.0025%	1h	86,156.2	+0.007%	$16.9M	$20.5M	50x	as long as short
Aster BTCUSDT	+0.0031%	8h	86,151.1	+0.001%	$499.5M	$1.13B	200x	as long as short
KuCoin XBTUSDTM	+0.0043%	8h	86,131	−0.022%	$828.3M	$715.4M	125x	as long as short
Bluefin BTC-PERP	+0.0043%	1h	86,176.2	+0.031%	$144K	$666K	40x	as long as short

Show all 56 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Reya BTCRUSDPERP	+0.0049%	1h	86,134.8	−0.018%	$6.7M	$145.8M	40x	as long as short
BingX BTC-USDC	+0.0052%	8h	86,129.3	−0.024%	—	$15.2M	—	as long as short
RISEx BTC/USDC	+0.0052%	1h	86,121.5	−0.033%	$8.2M	$42.4M	25x	as long as short
Bitget BTCUSDT	+0.0066%	8h	86,143	−0.008%	$2.97B	$5.04B	150x	as long as short
SoDEX BTC-USD	+0.0074%	1h	86,145	−0.006%	$60.4M	$338.3M	40x	as long as short
HTX BTC-USDT	+0.0077%	8h	86,124.9	−0.029%	$2.29B	$957.4M	200x	as long as short
Aevo BTC-PERP	+0.0080%	1h	86,141.2	−0.010%	$2.5M	$1.8M	20x	as long as short
Binance BTCUSDT	+0.0083%	8h	86,142.2	−0.009%	$9.37B	$24.23B	150x	as long as short
MEXC BTC_USDT	+0.0084%	8h	86,142.3	−0.009%	$5.10B	$5.76B	500x	as long as short
Phemex BTCUSDT	+0.0085%	8h	86,144.9	−0.006%	$155.9M	$473.3M	150x	as long as short
Gate BTC_USDTlong	+0.0088%	8h	86,149.9	long leg	$5.77B	$10.65B	200x
Lighter BTC	+0.0096%	1h	86,163.2	+0.015%	$170.2M	$994.1M	50x	as long as short
Lighter RH BTC	+0.0096%	1h	86,167.9	+0.021%	$23.6M	$152.1M	50x	as long as short
Popdex BTCUSDT	+0.0096%	1h	86,114	−0.042%	$8.4M	$52.1M	100x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	86,088	−0.072%	$199K	$7.3M	50x	as long as short
Paradex BTC-USD-PERP	+0.0100%	8h	86,176.5	+0.031%	$4.2M	$8.5M	50x	as long as short
Nado BTC-PERP	+0.0100%	1h	86,134.9	−0.017%	$22.1M	$225.1M	50x	as long as short
Hyperliquid BTC	+0.0100%	1h	86,211	+0.071%	$3.77B	$4.96B	40x	as long as short
Pacifica BTC	+0.0100%	1h	86,170.6	+0.024%	$40.8M	$560.8M	50x	as long as short
Bybit BTCUSDT	+0.0100%	8h	86,153.2	+0.004%	$5.25B	$9.63B	150x	as long as short
OKX BTC-USDT-SWAP	+0.0100%	8h	86,154.3	+0.005%	$2.56B	$12.40B	100x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	86,148	−0.002%	$3.9M	$17.9M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	86,131.4	−0.021%	$7.2M	$95.0M	40x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	86,116	−0.039%	$35.5M	$161.6M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	86,205.5	+0.065%	$156.7M	$558.7M	—	as long as short
edgeX BTCUSDC	+0.0100%	4h	86,200.1	+0.058%	$278.4M	$938.7M	100x	as long as short
GRVT BTC_USDT_Perp	+0.0100%	8h	86,266	+0.135%	$216.6M	$165.4M	50x	as long as short
ApeX Omni BTCUSDT	+0.0100%	1h	86,239.5	+0.104%	$141.2M	$320.0M	100x	as long as short
StandX BTC-USD	+0.0100%	1h	86,190	+0.047%	$30.6M	$207.5M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	86,189	+0.045%	—	$11.8M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	86,138	−0.014%	$11.1M	$14.1M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	86,143.1	−0.008%	$190K	$3.3M	20x	as long as short
Orderly PERP_BTC_USDCshort	+0.0100%	8h	86,143.3	−0.008%	$2.4M	$9.1M	100x
Derive BTC-PERP	+0.0100%	1h	86,164.6	+0.017%	$30.3M	$57.0M	15x	as long as short
SunX BTC-USDT	+0.0100%	8h	86,116.8	−0.038%	$3.3M	$5.4M	100x	as long as short
Bulk BTC-USD	+0.0100%	1h	86,141.5	−0.010%	$581.0M	$76.4M	40x	as long as short
Extended BTC-USD	+0.0104%	1h	86,123.2	−0.031%	$46.0M	$222.3M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0048%	1h	86,162.3	+0.014%	—	$98.9M	500x	as long as short
Coinbase International BTC-PERP-INTX	+0.0120%	1h	86,185.3	+0.041%	$132.0M	$5.28B	50x	as long as short
Kraken Futures PF_XBTUSD	+0.0121%	1h	86,177.9	+0.032%	$191.2M	$951.4M	100x	as long as short
Hibachi BTC/USDT-P	+0.0136%	1h	86,193.1	+0.050%	$731K	$7.9M	30x	as long as short
Aftermath Perps BTCUSD	+0.0169%	1h	86,246.9	+0.113%	$77K	$217K	20x	as long as short
BloFin BTC-USDT	+0.0204%	8h	86,134	−0.018%	$415.3M	$640.2M	150x	as long as short
Kalshi KXBTCPERP	+0.0206%	8h	86,156	+0.007%	$10.5M	$766.5M	6.4x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0207% / S −0.0222%	1h	86,164.9	+0.017%	$14.5M	—	200x	as long as short
Deribit BTC-PERPETUAL	+0.0219%	1h	86,202.4	+0.061%	$902.6M	$1.51B	50x	as long as short