BTC

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0104%/8h= −11.4% APRnext payment −$0.13 per $10,000 · paid last 24h −0.019%

Price spread now: Polymarket Perps against GMX−0.003%7-day average −0.038% · you buy dearer than you sell

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

Long on GMX Short on Polymarket Perps

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.066%−$7 on $10k

Price spread, last 3 days (all we have)−0.019%−$2 · spread now −0.003%, 7d avg −0.038%

Together, before fees−0.084%−$8 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Polymarket Perps is 0.035% dearer against GMX than usual: you sell high and buy low (spread −0.003% now, against its 7-day average of −0.038%): +$3 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 27 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX BTC/USD [WBTC.b-USDC]	86,402.7	L +0.0204% / S −0.0219%	pay 0.0026% / 1h	30m 42s	$14.5M	—	200x
Short	Polymarket Perps BTC-USD	86,400	0.0100	get 0.0013% / 1h	30m 42s	$11.1M	$14.1M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket Perps against GMX. 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 GMXbpFee Polymarket PerpsbpOrdersPrice spread, now −0.003%Rate

Funding earned: −$21.93
Price spread: −0.003% → −0.038%: $3.49
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: −$38.44
Costs to cover: 0.200%
Break-even: never at this rate

Slippage unknown: GMX: no order-book sample; Polymarket Perps: live order book, 3 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 Polymarket Perps live order book, 3 min ago	0.06 bp	4.1 bp −$4	4.6 bp −$46	7.2 bp −$716	doesn't fit

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
Bluefin BTC-PERP	−0.0458%	1h	86,410.7	+0.009%	$144K	$666K	40x	as long as short
Phoenix BTC	−0.0129%	1h	86,337	−0.076%	$2.2M	$11.2M	40x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	86,404	+0.001%	$9K	$3K	50x	as long as short
01 Exchange BTCUSD	−0.0032%	1h	86,398.8	−0.005%	$361K	$2.4M	50x	as long as short
Perpl BTC	0.0000%	43m	86,403.1	0.000%	$482K	$21.6M	6.7x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0005% / S −0.0004%	1h	86,407.2	+0.005%	$36.9M	—	200x	as long as short
Aster BTCUSDT	+0.0022%	8h	86,365.4	−0.043%	$500.9M	$1.14B	200x	as long as short
Injective BTC/USDC PERP	+0.0023%	1h	86,358	−0.052%	$343K	$26.9M	52x	as long as short
dYdX BTC-USD	+0.0026%	1h	86,374.9	−0.032%	$16.9M	$20.5M	50x	as long as short
KuCoin XBTUSDTM	+0.0040%	8h	86,404.2	+0.002%	$831.2M	$720.7M	125x	as long as short

Show all 56 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Reya BTCRUSDPERP	+0.0045%	1h	86,395.8	−0.008%	$6.7M	$145.7M	40x	as long as short
BingX BTC-USDT	+0.0050%	8h	86,370.3	−0.038%	—	$1.57B	—	as long as short
RISEx BTC/USDC	+0.0052%	1h	86,407	+0.005%	$8.3M	$42.5M	25x	as long as short
Bitget BTCUSDT	+0.0063%	8h	86,363.2	−0.046%	$2.97B	$5.04B	150x	as long as short
Phemex BTCUSDT	+0.0065%	8h	86,397.2	−0.006%	$154.4M	$473.9M	150x	as long as short
MEXC BTC_USDT	+0.0077%	8h	86,363.6	−0.045%	$5.13B	$5.70B	500x	as long as short
Binance BTCUSDT	+0.0077%	8h	86,364.9	−0.044%	$9.40B	$24.29B	150x	as long as short
HTX BTC-USDT	+0.0079%	8h	86,362.5	−0.047%	$2.29B	$965.0M	200x	as long as short
Aevo BTC-PERP	+0.0080%	1h	86,365.1	−0.044%	$2.5M	$1.7M	20x	as long as short
Deribit BTC-PERPETUAL	+0.0095%	1h	86,419.5	+0.019%	$902.7M	$1.51B	50x	as long as short
Lighter BTC	+0.0096%	1h	86,380.1	−0.026%	$170.5M	$985.7M	50x	as long as short
Lighter RH BTC	+0.0096%	1h	86,392.8	−0.011%	$23.7M	$149.2M	50x	as long as short
Popdex BTCUSDT	+0.0096%	1h	86,395	−0.009%	$8.4M	$52.0M	100x	as long as short
SoDEX BTC-USD	+0.0098%	1h	86,374	−0.033%	$60.4M	$338.2M	40x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	86,370	−0.038%	$203K	$7.2M	50x	as long as short
Paradex BTC-USD-PERP	+0.0100%	8h	86,385.4	−0.020%	$4.2M	$8.6M	50x	as long as short
Nado BTC-PERP	+0.0100%	1h	86,376.3	−0.031%	$22.0M	$228.1M	50x	as long as short
Hyperliquid BTC	+0.0100%	1h	86,442	+0.045%	$3.79B	$5.00B	40x	as long as short
Pacifica BTC	+0.0100%	1h	86,398.9	−0.004%	$40.7M	$551.7M	50x	as long as short
Bybit BTCUSDT	+0.0100%	8h	86,372.2	−0.035%	$5.26B	$9.66B	150x	as long as short
OKX BTC-USDT-SWAP	+0.0100%	8h	86,374.2	−0.033%	$2.56B	$12.48B	100x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	86,385	−0.021%	$3.9M	$17.9M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	86,390.8	−0.014%	$7.2M	$94.9M	40x	as long as short
Bulk BTC-USD	+0.0100%	1h	86,348	−0.063%	$573.1M	$19.8M	40x	as long as short
Gate BTC_USDT	+0.0100%	8h	86,378.6	−0.028%	$5.80B	$10.54B	200x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	86,374.6	−0.033%	$37.5M	$157.1M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	86,377.3	−0.029%	$158.2M	$561.5M	—	as long as short
edgeX BTCUSDC	+0.0100%	4h	86,352.6	−0.058%	$278.9M	$950.7M	100x	as long as short
GRVT BTC_USDT_Perp	+0.0100%	8h	86,334.3	−0.079%	$216.8M	$165.6M	50x	as long as short
ApeX Omni BTCUSDT	+0.0100%	1h	86,356.3	−0.054%	$141.6M	$321.1M	100x	as long as short
StandX BTC-USD	+0.0100%	1h	86,327	−0.088%	$30.6M	$209.6M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	86,426	+0.027%	—	$11.8M	50x	as long as short
Polymarket Perps BTC-USDshort	+0.0100%	1h	86,400	−0.003%	$11.1M	$14.1M	50x
Bullet BTC-USD	+0.0100%	1h	86,392.7	−0.012%	$193K	$3.3M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	86,378.5	−0.028%	$2.5M	$8.9M	100x	as long as short
Derive BTC-PERP	+0.0100%	1h	86,405.1	+0.003%	$30.5M	$58.1M	15x	as long as short
SunX BTC-USDT	+0.0100%	8h	86,378.1	−0.029%	$3.4M	$5.2M	100x	as long as short
Extended BTC-USD	+0.0104%	1h	86,356.9	−0.053%	$45.9M	$222.0M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0048%	1h	86,411.3	+0.010%	—	$98.6M	500x	as long as short
Coinbase International BTC-PERP-INTX	+0.0120%	1h	86,415	+0.014%	$132.2M	$5.41B	50x	as long as short
Kraken Futures PF_XBTUSD	+0.0121%	1h	86,400.3	−0.003%	$192.4M	$942.3M	100x	as long as short
Aftermath Perps BTCUSD	+0.0166%	1h	86,401.7	−0.001%	$77K	$217K	20x	as long as short
Hibachi BTC/USDT-P	+0.0168%	1h	86,353.9	−0.057%	$710K	$7.9M	30x	as long as short
BloFin BTC-USDT	+0.0197%	8h	86,370.5	−0.037%	$415.9M	$645.9M	150x	as long as short
GMX BTC/USD [WBTC.b-USDC]long	L +0.0204% / S −0.0219%	1h	86,402.7	long leg	$14.5M	—	200x
Kalshi KXBTCPERP	+0.0209%	8h	86,413	+0.012%	$10.2M	$763.6M	6.4x	as long as short