Funding you earn now, next payment 07:00 UTC−0.0112%/8h= −12.3% APRnext payment −$0.14 per $10,000 · paid last 24h −0.026%
Price spread now: Kraken Futures against GMX+0.023%7-day average −0.020% · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 3 days (all we have)−0.108%−$11 on $10k
+Price spread, last 4 days (all we have)−0.033%−$3 · spread now +0.023%, 7d avg −0.020%
=The price spread pays, funding is against you. Kraken Futures is 0.043% dearer against GMX than usual: you sell high and buy low (spread +0.023% now, against its 7-day average of −0.020%): +$4 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 31 hours.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | GMX BTC/USD [WBTC.b-USDC] | 85,464.5 | L +0.0200% / S −0.0176% | pay 0.0025% / 1h | 23m 24s | $13.1M | — | 200x |
| Short | Kraken Futures PF_XBTUSD | 85,483.9 | 0.0089 | get 0.0011% / 1h | 23m 24s | $186.3M | $960.7M | 100x |
GMX BTC/USD [WBTC.b-USDC]
Kraken Futures PF_XBTUSDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Kraken Futures against GMX. 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
- −$23.5
- Price spread: +0.023% → −0.020%
- $4.27
- Slippage, 4 orders
- no order book: not counted
- Fee GMX: 6 bp × 2 orders
- −$12
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Net
- −$41.23
- Costs to cover
- 0.220%
- Break-even
- never at this rate
Slippage unknown: GMX: no order-book sample; Kraken Futures: live order book, 6 min ago. 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 GMX no order-book sample | — | — | — | — | — |
| Sell Kraken Futures live order book, 6 min ago | 0.06 bp | 5.1 bp −$5 | 5.5 bp −$55 | 6.5 bp −$647 | 8.7 bp −$4,347 |
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 | |
|---|---|---|---|---|---|---|---|---|
| Phoenix BTC | −0.0082% | 1h | 85,446 | −0.022% | $2.1M | $10.4M | 40x | as long as short |
| Hotstuff BTC-PERP | −0.0080% | 1h | 85,459 | −0.006% | $8K | $3K | 50x | as long as short |
| KuCoin XBTUSDTM | −0.0043% | 8h | 85,442 | −0.026% | $928.4M | $773.3M | 125x | as long as short |
| BloFin BTC-USDT | −0.0027% | 8h | 85,477 | +0.015% | $421.1M | $684.6M | 150x | as long as short |
| Aster BTCUSDT | −0.0009% | 8h | 85,447.2 | −0.020% | $513.3M | $1.09B | 200x | as long as short |
| 01 Exchange BTCUSD | 0.0000% | 1h | 85,452.1 | −0.015% | $353K | $2.4M | 50x | as long as short |
| Perpl BTC | 0.0000% | 43m | 85,463.8 | −0.001% | $491K | $18.5M | 6.7x | as long as short |
| dYdX BTC-USD | +0.0001% | 1h | 85,472.4 | +0.009% | $16.8M | $21.2M | 50x | as long as short |
| gTrade (Gains Network) BTC/USD | L +0.0004% / S −0.0004% | 1h | 85,477 | +0.015% | $36.6M | — | 200x | as long as short |
| Nado BTC-PERP | +0.0039% | 1h | 85,469.6 | +0.006% | $24.4M | $222.6M | 50x | as long as short |
Phoenix BTC
Hotstuff BTC-PERP
KuCoin XBTUSDTM
BloFin BTC-USDT
Aster BTCUSDT
01 Exchange BTCUSD
Perpl BTC
dYdX BTC-USD
gTrade (Gains Network) BTC/USD
Nado BTC-PERPShow all 56 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Injective BTC/USDC PERP | +0.0057% | 1h | 85,247 | −0.255% | $338K | $26.8M | 52x | as long as short |
| BingX BTC-USDT | +0.0071% | 8h | 85,463.7 | −0.001% | — | $1.57B | — | as long as short |
| Kraken Futures PF_XBTUSDshort | +0.0089% | 1h | 85,483.9 | +0.023% | $186.3M | $960.7M | 100x | |
| Bitget BTCUSDT | +0.0090% | 8h | 85,472.4 | +0.009% | $2.97B | $5.17B | 150x | as long as short |
| MEXC BTC_USDT | +0.0093% | 8h | 85,448.3 | −0.019% | $5.02B | $5.76B | 500x | as long as short |
| Binance BTCUSDT | +0.0093% | 8h | 85,458 | −0.008% | $9.43B | $25.00B | 150x | as long as short |
| Lighter BTC | +0.0096% | 1h | 85,468.4 | +0.005% | $170.2M | $1.03B | 50x | as long as short |
| Lighter RH BTC | +0.0096% | 1h | 85,471.4 | +0.008% | $23.5M | $148.3M | 50x | as long as short |
| Popdex BTCUSDT | +0.0096% | 1h | 85,439 | −0.030% | $8.4M | $56.5M | 100x | as long as short |
| Aevo BTC-PERP | +0.0096% | 1h | 85,463 | −0.002% | $2.4M | $6.7M | 20x | as long as short |
| Bybit BTCUSDT | +0.0099% | 8h | 85,461.5 | −0.004% | $5.15B | $9.99B | 150x | as long as short |
| Katana Perps BTC-USD | +0.0100% | 8h | 85,422 | −0.050% | $242K | $8.7M | 50x | as long as short |
| Paradex BTC-USD-PERP | +0.0100% | 8h | 85,504.2 | +0.046% | $5.8M | $9.6M | 50x | as long as short |
| Hyperliquid BTC | +0.0100% | 1h | 85,525 | +0.071% | $3.75B | $5.07B | 40x | as long as short |
| Pacifica BTC | +0.0100% | 1h | 85,483.7 | +0.022% | $40.0M | $602.6M | 50x | as long as short |
| OKX BTC-USDT-SWAP | +0.0100% | 8h | 85,474.3 | +0.011% | $2.60B | $12.27B | 100x | as long as short |
| Ondo Perps BTC-USD.P | +0.0100% | 1h | 85,444 | −0.024% | $3.8M | $17.1M | 25x | as long as short |
| Arcus BTC-USD | +0.0100% | 1h | 85,435.9 | −0.034% | $5.2M | $98.2M | 40x | as long as short |
| Gate BTC_USDT | +0.0100% | 8h | 85,468.7 | +0.005% | $5.55B | $11.04B | 200x | as long as short |
| Backpack BTC_USDC_PERP | +0.0100% | 1h | 85,465.2 | +0.001% | $37.1M | $178.2M | 75x | as long as short |
| Variational Omni BTC | +0.0100% | 8h | 85,436.8 | −0.032% | $154.6M | $558.5M | — | as long as short |
| edgeX BTCUSDC | +0.0100% | 4h | 85,386.4 | −0.091% | $279.8M | $950.4M | 100x | as long as short |
| GRVT BTC_USDT_Perp | +0.0100% | 8h | 85,423.4 | −0.048% | $214.5M | $163.9M | 50x | as long as short |
| ApeX Omni BTCUSDT | +0.0100% | 1h | 85,436.7 | −0.033% | $139.7M | $313.7M | 100x | as long as short |
| StandX BTC-USD | +0.0100% | 1h | 85,486.8 | +0.026% | $30.1M | $204.4M | 40x | as long as short |
| Vest BTC-PERP | +0.0100% | 1h | 85,513 | +0.057% | — | $10.9M | 50x | as long as short |
| Polymarket Perps BTC-USD | +0.0100% | 1h | 85,454 | −0.012% | $11.0M | $14.6M | 50x | as long as short |
| Bullet BTC-USD | +0.0100% | 1h | 85,461 | −0.004% | $201K | $3.3M | 20x | as long as short |
| Orderly PERP_BTC_USDC | +0.0100% | 8h | 85,462.2 | −0.003% | $2.6M | $9.8M | 100x | as long as short |
| Bluefin BTC-PERP | +0.0100% | 1h | 85,508.9 | +0.052% | $194K | $796K | 40x | as long as short |
| Derive BTC-PERP | +0.0100% | 1h | 85,214.5 | −0.293% | $29.9M | $47.0M | 15x | as long as short |
| SunX BTC-USDT | +0.0100% | 8h | 85,450.7 | −0.016% | $2.9M | $6.1M | 100x | as long as short |
| SoDEX BTC-USD | +0.0100% | 1h | 85,469 | +0.005% | $59.8M | $336.8M | 40x | as long as short |
| HTX BTC-USDT | +0.0100% | 8h | 85,449 | −0.018% | $2.26B | $968.6M | 200x | as long as short |
| Phemex BTCUSDT | +0.0100% | 8h | 85,473.4 | +0.010% | $153.0M | $510.7M | 150x | as long as short |
| Bulk BTC-USD | +0.0100% | 1h | 85,269.9 | −0.228% | $683.1M | $415.1M | 40x | as long as short |
| Extended BTC-USD | +0.0104% | 1h | 85,440.2 | −0.028% | $44.9M | $240.7M | 50x | as long as short |
| Jupiter Perps WBTC-PERP | L +0.0104% / S +0.0056% | 1h | 85,481.7 | +0.020% | — | $106.9M | 500x | as long as short |
| Coinbase International BTC-PERP-INTX | +0.0104% | 1h | 85,505.4 | +0.048% | $115.2M | $5.49B | 50x | as long as short |
| Reya BTCRUSDPERP | +0.0130% | 1h | 85,435.1 | −0.034% | $6.6M | $147.7M | 40x | as long as short |
| Deribit BTC-PERPETUAL | +0.0142% | 1h | 85,513.2 | +0.057% | $861.9M | $1.64B | 50x | as long as short |
| Kalshi KXBTCPERP | +0.0184% | 8h | 85,477 | +0.015% | $11.8M | $741.4M | 6.4x | as long as short |
| RISEx BTC/USDC | +0.0193% | 1h | 85,464.6 | 0.000% | $8.8M | $42.8M | 25x | as long as short |
| GMX BTC/USD [WBTC.b-USDC]long | L +0.0200% / S −0.0176% | 1h | 85,464.5 | long leg | $13.1M | — | 200x | |
| Hibachi BTC/USDT-P | +0.0224% | 1h | 85,481.8 | +0.020% | $685K | $7.9M | 30x | as long as short |
| Aftermath Perps BTCUSD | +0.0248% | 1h | 85,427.4 | −0.043% | $79K | $230K | 20x | as long as short |
Injective BTC/USDC PERP
BingX BTC-USDT
Bitget BTCUSDT
MEXC BTC_USDT
Binance BTCUSDT
Lighter BTC
Lighter RH BTC
Popdex BTCUSDT
Aevo BTC-PERP
Bybit BTCUSDT
Katana Perps BTC-USD
Paradex BTC-USD-PERP
Hyperliquid BTC
Pacifica BTC
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
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
Deribit BTC-PERPETUAL
Kalshi KXBTCPERP
RISEx BTC/USDC
Hibachi BTC/USDT-P
Aftermath Perps BTCUSD