BTC

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0080%/8h= +8.8% APRnext payment +$0.10 per $10,000 · paid last 24h +0.022%

Price spread now: dYdX against Hotstuff−0.033%7-day average — · you buy dearer than you sell

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

Long on Hotstuff Short on dYdX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropHotstuff: Active · farm boardneeds both histories

Funding pays, the price is against you. dYdX is 0.033% cheaper against Hotstuff than usual: you would sell low and buy high (spread −0.033% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$3 on $10k: about 33 hours of funding at the current rate (+$2 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hotstuff BTC-PERP	85,608	−0.0080	get 0.0010% / 1h	56m 44s	$8K	$3K	50x
Short	dYdX BTC-USD	85,579.5	0	get 0.0000% / 1h	56m 44s	$16.7M	$20.9M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

dYdX against Hotstuff. 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 HotstuffbpFee dYdXbpOrdersPrice spread, now −0.033%Rate

Funding earned: $16.8
Price spread: −0.033% → 0.000%: −$3.33
Slippage, 4 orders: no order book: not counted
Fee Hotstuff: 2.5 bp × 2 orders: −$5
Fee dYdX: 5 bp × 2 orders: −$10
Net: −$1.53
Costs to cover: 0.150%
Break-even: 7.6 days

Slippage unknown: Hotstuff: no order-book sample; dYdX: live order book, 2 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 Hotstuff no order-book sample	—	—	—	—	—
Sell dYdX live order book, 2 min ago	1.81 bp	7.6 bp −$8	13.6 bp −$136	20.9 bp −$2,094	25.4 bp −$12.7K

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 55 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	−0.0144%	1h	85,498	−0.128%	$2.1M	$10.1M	40x	as long as short
Hotstuff BTC-PERPlong	−0.0080%	1h	85,608	long leg	$8K	$3K	50x
01 Exchange BTCUSD	−0.0056%	1h	85,598	−0.012%	$365K	$2.3M	50x	as long as short
dYdX BTC-USDshort	0.0000%	1h	85,579.5	−0.033%	$16.7M	$20.9M	50x
gTrade (Gains Network) BTC/USD	L +0.0004% / S −0.0004%	1h	85,488.5	−0.140%	$36.6M	—	200x	as long as short
Aster BTCUSDT	+0.0019%	8h	85,548.7	−0.069%	$515.7M	$1.11B	200x	as long as short
Nado BTC-PERP	+0.0019%	1h	85,477.1	−0.153%	$22.5M	$224.4M	50x	as long as short
KuCoin XBTUSDTM	+0.0021%	8h	85,539.7	−0.080%	$899.1M	$748.5M	125x	as long as short
SoDEX BTC-USD	+0.0030%	1h	85,464	−0.168%	$59.8M	$336.4M	40x	as long as short
BingX BTC-USDC	+0.0055%	8h	85,588	−0.023%	—	$17.0M	—	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX BTC-USDT	+0.0055%	8h	85,473.5	−0.157%	$2.27B	$930.9M	200x	as long as short
Reya BTCRUSDPERP	+0.0063%	1h	85,457.5	−0.176%	$6.7M	$146.4M	40x	as long as short
Bitget BTCUSDT	+0.0068%	8h	85,597	−0.013%	$2.95B	$5.01B	150x	as long as short
Popdex BTCUSDT	+0.0072%	1h	85,463	−0.169%	$8.3M	$51.5M	100x	as long as short
SunX BTC-USDT	+0.0073%	8h	85,453.9	−0.180%	$2.9M	$6.4M	100x	as long as short
Injective BTC/USDC PERP	+0.0079%	1h	85,617	+0.011%	$340K	$26.9M	52x	as long as short
Aevo BTC-PERP	+0.0080%	1h	85,469	−0.162%	$2.4M	$1.7M	20x	as long as short
Binance BTCUSDT	+0.0084%	8h	85,577.6	−0.036%	$9.34B	$23.91B	150x	as long as short
MEXC BTC_USDT	+0.0085%	8h	85,590.5	−0.020%	$5.08B	$5.57B	500x	as long as short
Lighter BTC	+0.0096%	1h	85,572.3	−0.042%	$169.5M	$981.8M	50x	as long as short
Lighter RH BTC	+0.0096%	1h	85,568.7	−0.046%	$23.9M	$146.8M	50x	as long as short
Paradex BTC-USD-PERP	+0.0099%	8h	85,641.4	+0.039%	$3.8M	$8.3M	50x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	85,572	−0.042%	$203K	$7.6M	50x	as long as short
Hyperliquid BTC	+0.0100%	1h	85,619	+0.013%	$3.76B	$4.92B	40x	as long as short
Pacifica BTC	+0.0100%	1h	85,603.4	−0.005%	$40.1M	$571.6M	50x	as long as short
Bybit BTCUSDT	+0.0100%	8h	85,600	−0.009%	$5.33B	$9.58B	150x	as long as short
OKX BTC-USDT-SWAP	+0.0100%	8h	85,598.2	−0.011%	$2.56B	$12.10B	100x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	85,579	−0.034%	$3.9M	$17.8M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	85,561.5	−0.054%	$7.1M	$96.4M	40x	as long as short
Gate BTC_USDT	+0.0100%	8h	85,599.4	−0.010%	$5.58B	$10.38B	200x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	85,474.6	−0.156%	$34.8M	$168.8M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	85,545	−0.074%	$154.0M	$554.0M	—	as long as short
edgeX BTCUSDC	+0.0100%	4h	85,553.1	−0.064%	$278.3M	$939.9M	100x	as long as short
GRVT BTC_USDT_Perp	+0.0100%	8h	85,581.5	−0.031%	$214.8M	$161.4M	50x	as long as short
ApeX Omni BTCUSDT	+0.0100%	1h	85,594.5	−0.016%	$139.9M	$316.3M	100x	as long as short
StandX BTC-USD	+0.0100%	1h	85,539.1	−0.080%	$30.2M	$211.1M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	85,538.5	−0.081%	—	$11.8M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	85,464	−0.168%	$11.0M	$14.1M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	85,474.3	−0.156%	$188K	$3.3M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	85,464.6	−0.168%	$2.4M	$8.9M	100x	as long as short
Bluefin BTC-PERP	+0.0100%	1h	85,506.1	−0.119%	$196K	$722K	40x	as long as short
Derive BTC-PERP	+0.0100%	1h	85,469.3	−0.162%	$30.0M	$52.7M	15x	as long as short
Phemex BTCUSDT	+0.0100%	8h	85,481.9	−0.147%	$149.6M	$478.8M	150x	as long as short
Bulk BTC-USD	+0.0100%	1h	85,593.2	−0.017%	$605.0M	$283.5M	40x	as long as short
Extended BTC-USD	+0.0104%	1h	85,581.4	−0.031%	$44.2M	$226.9M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0056%	1h	85,556.3	−0.060%	—	$101.8M	500x	as long as short
Coinbase International BTC-PERP-INTX	+0.0112%	1h	85,515	−0.109%	$130.4M	$5.06B	50x	as long as short
RISEx BTC/USDC	+0.0120%	1h	85,630.2	+0.026%	$8.4M	$42.1M	25x	as long as short
Kraken Futures PF_XBTUSD	+0.0139%	1h	85,492.3	−0.135%	$186.9M	$951.6M	100x	as long as short
Deribit BTC-PERPETUAL	+0.0166%	1h	85,517.1	−0.106%	$894.8M	$1.52B	50x	as long as short
Aftermath Perps BTCUSD	+0.0188%	1h	85,583.9	−0.028%	$78K	$219K	20x	as long as short
Hibachi BTC/USDT-P	+0.0192%	1h	85,577.9	−0.035%	$682K	$7.8M	30x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0203% / S −0.0184%	1h	85,485.2	−0.143%	$13.5M	—	200x	as long as short
Kalshi KXBTCPERP	+0.0212%	8h	85,509	−0.116%	$10.2M	$765.2M	6.4x	as long as short
Perpl BTC	+0.0447%	43m	85,512.5	−0.112%	$509K	$19.7M	6.7x	as long as short