BTC

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC−0.0100%/8h= −10.9% APRnext payment −$0.13 per $10,000 · paid last 24h −0.030%

Price spread now: dYdX against Ondo Perps+0.047%7-day average −0.021% · you sell dearer than you buy

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

Long on Ondo Perps Short on dYdX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.177%−$18 on $10k

Price spread, last 7 days−0.044%−$4 · spread now +0.047%, 7d avg −0.021%

Together, before fees−0.221%+ Points / potential airdropOndo Perps: Active · farm board−$22 on $10k · with fees, hour by hour

The price spread pays, funding is against you. dYdX is 0.068% dearer against Ondo Perps than usual: you sell high and buy low (spread +0.047% now, against its 7-day average of −0.021%): +$7 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 2.3 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Ondo Perps BTC-USD.P	86,067	0.0100	pay 0.0013% / 1h	48m 57s	$4.0M	$15.1M	25x
Short	dYdX BTC-USD	86,107.7	0	get 0.0000% / 1h	48m 57s	$16.9M	$14.5M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

dYdX against Ondo Perps. 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 Ondo PerpsbpFee dYdXbpOrdersPrice spread, now +0.047%Rate

Funding earned: −$21
Price spread: +0.047% → −0.021%: $6.79
Slippage, 4 orders: no order book: not counted
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Fee dYdX: 5 bp × 2 orders: −$10
Net: −$29.21
Costs to cover: 0.150%
Break-even: never at this rate

Slippage unknown: Ondo Perps: no order-book sample; dYdX: 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 Ondo Perps no order-book sample	—	—	—	—	—
Sell dYdX live order book, 3 min ago	3.25 bp	32.8 bp −$33	40.0 bp −$400	49.2 bp −$4,920	80.6 bp −$40.3K

Ondo Perps: 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 exchanges

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	−0.0133%	1h	86,126	+0.069%	$2.1M	$7.8M	40x	as long as short
ApeX Omni BTCUSDT	−0.0103%	1h	86,098.5	+0.037%	$137.8M	$295.3M	100x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	86,197	+0.151%	$8K	$2K	50x	as long as short
01 Exchange BTCUSD	−0.0032%	1h	86,061.4	−0.007%	$363K	$2.0M	50x	as long as short
BloFin BTC-USDT	−0.0021%	8h	86,047.9	−0.022%	$422.6M	$563.8M	150x	as long as short
SoDEX BTC-USD	−0.0009%	1h	86,048	−0.022%	$65.9M	$187.9M	40x	as long as short
dYdX BTC-USDshort	0.0000%	1h	86,107.7	+0.047%	$16.9M	$14.5M	50x
Perpl BTC	0.0000%	43m	86,079.4	+0.014%	$480K	$13.8M	6.7x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0004% / S −0.0004%	1h	86,111.6	+0.052%	$36.8M	—	200x	as long as short
Injective BTC/USDC PERP	+0.0009%	1h	86,114	+0.055%	$301K	$26.2M	52x	as long as short

Show all 55 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster BTCUSDT	+0.0028%	8h	86,027.5	−0.046%	$512.8M	$874.3M	200x	as long as short
BingX BTC-USDC	+0.0028%	8h	86,009.6	−0.067%	—	$16.3M	—	as long as short
Kraken Futures PF_XBTUSD	+0.0029%	1h	86,068	+0.001%	$191.6M	$768.2M	100x	as long as short
Bybit BTCUSDT	+0.0038%	8h	86,038.5	−0.033%	$5.15B	$8.13B	150x	as long as short
KuCoin XBTUSDTM	+0.0054%	8h	86,055.2	−0.014%	$943.3M	$633.8M	125x	as long as short
Gate BTC_USDT	+0.0063%	8h	86,042.9	−0.028%	$5.51B	$8.89B	200x	as long as short
Popdex BTCUSDT	+0.0080%	1h	86,058	−0.010%	$8.5M	$45.6M	100x	as long as short
Phemex BTCUSDT	+0.0091%	8h	86,056.5	−0.012%	$170.6M	$478.8M	150x	as long as short
Bitget BTCUSDT	+0.0094%	8h	86,034.2	−0.038%	$2.99B	$3.96B	150x	as long as short
HTX BTC-USDT	+0.0095%	8h	86,050.5	−0.019%	$2.27B	$803.9M	200x	as long as short
Lighter BTC	+0.0096%	1h	86,064.1	−0.003%	$173.8M	$853.9M	50x	as long as short
Lighter RH BTC	+0.0096%	1h	86,066.9	0.000%	$23.4M	$119.1M	50x	as long as short
Aevo BTC-PERP	+0.0096%	1h	86,028.9	−0.044%	$2.4M	$6.7M	20x	as long as short
MEXC BTC_USDT	+0.0098%	8h	86,028.9	−0.044%	$5.16B	$4.82B	500x	as long as short
Binance BTCUSDT	+0.0099%	8h	86,029.1	−0.044%	$9.45B	$20.52B	150x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	86,043	−0.028%	$218K	$8.1M	50x	as long as short
Paradex BTC-USD-PERP	+0.0100%	8h	86,100.2	+0.039%	$6.0M	$7.6M	50x	as long as short
Nado BTC-PERP	+0.0100%	1h	86,060.3	−0.008%	$23.5M	$195.5M	50x	as long as short
Pacifica BTC	+0.0100%	1h	86,101.6	+0.040%	$40.1M	$571.2M	50x	as long as short
OKX BTC-USDT-SWAP	+0.0100%	8h	86,044.9	−0.026%	$2.62B	$9.49B	100x	as long as short
Ondo Perps BTC-USD.Plong	+0.0100%	1h	86,067	long leg	$4.0M	$15.1M	25x
Arcus BTC-USD	+0.0100%	1h	86,097.7	+0.036%	$4.2M	$90.6M	40x	as long as short
Bulk BTC-USD	+0.0100%	1h	86,169.3	+0.119%	$716.4M	$134.3M	40x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	86,040.3	−0.031%	$38.2M	$195.5M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	86,070.8	+0.004%	$156.6M	$475.5M	—	as long as short
edgeX BTCUSDC	+0.0100%	4h	86,058.2	−0.010%	$289.8M	$814.4M	100x	as long as short
GRVT BTC_USDT_Perp	+0.0100%	8h	86,097	+0.035%	$216.3M	$133.7M	50x	as long as short
StandX BTC-USD	+0.0100%	1h	86,080.1	+0.015%	$30.3M	$223.3M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	86,125.5	+0.068%	—	$9.1M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	86,065	−0.002%	$11.1M	$12.0M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	86,048.1	−0.022%	$205K	$3.2M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	86,038.7	−0.033%	$2.6M	$8.9M	100x	as long as short
Bluefin BTC-PERP	+0.0100%	1h	86,087.2	+0.023%	$195K	$563K	40x	as long as short
SunX BTC-USDT	+0.0100%	8h	86,065.6	−0.002%	$3.3M	$6.7M	100x	as long as short
Extended BTC-USD	+0.0104%	1h	86,011.7	−0.064%	$46.9M	$203.1M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0056%	1h	86,103.9	+0.043%	—	$81.6M	500x	as long as short
Coinbase International BTC-PERP-INTX	+0.0120%	1h	86,104	+0.043%	$112.1M	$4.97B	50x	as long as short
Kalshi KXBTCPERP	+0.0160%	8h	86,087	+0.023%	$12.0M	$733.5M	6.4x	as long as short
Hyperliquid BTC	+0.0160%	1h	86,145	+0.091%	$3.97B	$4.36B	40x	as long as short
Reya BTCRUSDPERP	+0.0163%	1h	86,077.4	+0.012%	$6.6M	$131.1M	40x	as long as short
RISEx BTC/USDC	+0.0187%	1h	86,082.4	+0.018%	$8.9M	$37.0M	25x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0211% / S −0.0251%	1h	86,101.2	+0.040%	$15.6M	—	200x	as long as short
Deribit BTC-PERPETUAL	+0.0229%	1h	86,106.1	+0.045%	$822.7M	$1.50B	50x	as long as short
Hibachi BTC/USDT-P	+0.0352%	1h	86,123	+0.065%	$726K	$7.0M	30x	as long as short
Aftermath Perps BTCUSD	+0.0443%	1h	86,126.9	+0.070%	$79K	$245K	20x	as long as short