Funding you earn now, next payment 01:00 UTC−0.0096%/8h= −10.5% APRpaid last 24h −0.029%
Price spread now: gTrade (Gains Network) against Orderly+0.006%7-day average +0.013% · 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)−0.096%−$10 on $10k
+Price spread, last 3 days (all we have)+0.029%+$3 · spread now +0.006%, 7d avg +0.013%
=The price spread sits at its 7-day average of +0.013%, so right now this pair is about funding alone: −$3 a day on $10k at the current rate.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Orderly PERP_BTC_USDC | 86,476.1 | 0.0100 | pay 0.0100% / 8h | 7h 25m | $2.4M | $8.9M | 100x |
| Short | gTrade (Gains Network) BTC/USD | 86,481.3 | L +0.0005% / S −0.0004% | get 0.0001% / 1h | 25m 33s | $37.0M | — | 200x |
Orderly PERP_BTC_USDC
gTrade (Gains Network) BTC/USDFunding history
latest
Range statsloading…
Price spread between the two exchanges
gTrade (Gains Network) against Orderly. 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
- −$20.06
- Price spread: +0.006% → +0.013%
- −$0.72
- Slippage, 4 orders
- no order book: not counted
- Fee Orderly: 3 bp × 2 orders
- −$6
- Fee gTrade (Gains Network): 3.5 bp × 2 orders
- −$7
- Net
- −$33.78
- Costs to cover
- 0.130%
- Break-even
- never at this rate
Slippage unknown: Orderly: no order-book sample; gTrade (Gains Network): virtual book (oracle venue), 4 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 Orderly no order-book sample | — | — | — | — | — |
| Sell gTrade (Gains Network) virtual book (oracle venue), 4 min ago | 0.51 bp | 4.0 bp −$4 | 4.1 bp −$41 | 4.5 bp −$446 | 6.4 bp −$3,181 |
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 | |
|---|---|---|---|---|---|---|---|---|
| Bluefin BTC-PERP | −0.0285% | 1h | 86,515 | +0.045% | $144K | $666K | 40x | as long as short |
| Phoenix BTC | −0.0129% | 1h | 86,403 | −0.085% | $2.2M | $11.2M | 40x | as long as short |
| Hotstuff BTC-PERP | −0.0080% | 1h | 86,454 | −0.026% | $9K | $3K | 50x | as long as short |
| 01 Exchange BTCUSD | −0.0032% | 1h | 86,433.6 | −0.049% | $361K | $2.4M | 50x | as long as short |
| Perpl BTC | 0.0000% | 43m | 86,449.9 | −0.030% | $481K | $21.5M | 6.7x | as long as short |
| gTrade (Gains Network) BTC/USDshort | L +0.0005% / S −0.0004% | 1h | 86,481.3 | +0.006% | $37.0M | — | 200x | |
| Injective BTC/USDC PERP | +0.0023% | 1h | 86,358 | −0.137% | $343K | $26.9M | 52x | as long as short |
| dYdX BTC-USD | +0.0026% | 1h | 86,482.9 | +0.008% | $16.9M | $20.5M | 50x | as long as short |
| Aster BTCUSDT | +0.0027% | 8h | 86,449.4 | −0.031% | $501.3M | $1.13B | 200x | as long as short |
| Phemex BTCUSDT | +0.0030% | 8h | 86,475.4 | −0.001% | $154.8M | $473.6M | 150x | as long as short |
Bluefin BTC-PERP
Phoenix BTC
Hotstuff BTC-PERP
01 Exchange BTCUSD
Perpl BTC
Injective BTC/USDC PERP
dYdX BTC-USD
Aster BTCUSDT
Phemex BTCUSDTShow all 56 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| KuCoin XBTUSDTM | +0.0042% | 8h | 86,449.1 | −0.031% | $832.6M | $719.1M | 125x | as long as short |
| Reya BTCRUSDPERP | +0.0046% | 1h | 86,427.7 | −0.056% | $6.7M | $145.8M | 40x | as long as short |
| BingX BTC-USDC | +0.0050% | 8h | 86,424.3 | −0.060% | — | $15.3M | — | as long as short |
| RISEx BTC/USDC | +0.0052% | 1h | 86,436.8 | −0.045% | $8.3M | $42.4M | 25x | as long as short |
| Bitget BTCUSDT | +0.0063% | 8h | 86,431.6 | −0.051% | $2.97B | $5.02B | 150x | as long as short |
| Deribit BTC-PERPETUAL | +0.0067% | 1h | 86,522.8 | +0.054% | $902.3M | $1.51B | 50x | as long as short |
| MEXC BTC_USDT | +0.0080% | 8h | 86,429.6 | −0.054% | $5.13B | $5.70B | 500x | as long as short |
| Aevo BTC-PERP | +0.0080% | 1h | 86,471.4 | −0.005% | $2.5M | $1.8M | 20x | as long as short |
| Binance BTCUSDT | +0.0082% | 8h | 86,428 | −0.056% | $9.42B | $24.25B | 150x | as long as short |
| Lighter BTC | +0.0096% | 1h | 86,465.2 | −0.013% | $170.8M | $986.9M | 50x | as long as short |
| Lighter RH BTC | +0.0096% | 1h | 86,471.1 | −0.006% | $23.7M | $150.1M | 50x | as long as short |
| Popdex BTCUSDT | +0.0096% | 1h | 86,425 | −0.059% | $8.4M | $52.0M | 100x | as long as short |
| SoDEX BTC-USD | +0.0098% | 1h | 86,483 | +0.008% | $60.5M | $338.2M | 40x | as long as short |
| Katana Perps BTC-USD | +0.0100% | 8h | 86,400 | −0.088% | $202K | $7.2M | 50x | as long as short |
| Paradex BTC-USD-PERP | +0.0100% | 8h | 86,464.9 | −0.013% | $4.2M | $8.6M | 50x | as long as short |
| Nado BTC-PERP | +0.0100% | 1h | 86,468.1 | −0.009% | $22.0M | $227.3M | 50x | as long as short |
| Hyperliquid BTC | +0.0100% | 1h | 86,502 | +0.030% | $3.80B | $5.00B | 40x | as long as short |
| Pacifica BTC | +0.0100% | 1h | 86,472.9 | −0.004% | $41.1M | $552.2M | 50x | as long as short |
| Bybit BTCUSDT | +0.0100% | 8h | 86,438.4 | −0.044% | $5.26B | $9.66B | 150x | as long as short |
| OKX BTC-USDT-SWAP | +0.0100% | 8h | 86,448 | −0.032% | $2.56B | $12.47B | 100x | as long as short |
| Ondo Perps BTC-USD.P | +0.0100% | 1h | 86,456 | −0.023% | $3.9M | $17.8M | 25x | as long as short |
| Arcus BTC-USD | +0.0100% | 1h | 86,456.1 | −0.023% | $7.2M | $94.8M | 40x | as long as short |
| Gate BTC_USDT | +0.0100% | 8h | 86,436.9 | −0.045% | $5.80B | $10.55B | 200x | as long as short |
| Backpack BTC_USDC_PERP | +0.0100% | 1h | 86,462.5 | −0.016% | $37.4M | $158.7M | 75x | as long as short |
| Variational Omni BTC | +0.0100% | 8h | 86,462.4 | −0.016% | $158.2M | $558.6M | — | as long as short |
| edgeX BTCUSDC | +0.0100% | 4h | 86,404.7 | −0.083% | $279.1M | $949.3M | 100x | as long as short |
| GRVT BTC_USDT_Perp | +0.0100% | 8h | 86,448.9 | −0.031% | $217.1M | $165.5M | 50x | as long as short |
| ApeX Omni BTCUSDT | +0.0100% | 1h | 86,442.1 | −0.039% | $141.6M | $320.7M | 100x | as long as short |
| StandX BTC-USD | +0.0100% | 1h | 86,430 | −0.053% | $30.7M | $209.5M | 40x | as long as short |
| Vest BTC-PERP | +0.0100% | 1h | 86,479.4 | +0.004% | — | $11.8M | 50x | as long as short |
| Polymarket Perps BTC-USD | +0.0100% | 1h | 86,432 | −0.051% | $11.1M | $14.0M | 50x | as long as short |
| Bullet BTC-USD | +0.0100% | 1h | 86,452.2 | −0.028% | $193K | $3.3M | 20x | as long as short |
| Orderly PERP_BTC_USDClong | +0.0100% | 8h | 86,476.1 | long leg | $2.4M | $8.9M | 100x | |
| Derive BTC-PERP | +0.0100% | 1h | 86,505.3 | +0.034% | $30.5M | $57.5M | 15x | as long as short |
| SunX BTC-USDT | +0.0100% | 8h | 86,395.1 | −0.094% | $3.4M | $5.2M | 100x | as long as short |
| HTX BTC-USDT | +0.0100% | 8h | 86,448 | −0.032% | $2.29B | $961.8M | 200x | as long as short |
| Bulk BTC-USD | +0.0100% | 1h | 86,411.1 | −0.075% | $576.0M | $32.8M | 40x | as long as short |
| Extended BTC-USD | +0.0104% | 1h | 86,406.2 | −0.081% | $45.9M | $221.9M | 50x | as long as short |
| Jupiter Perps WBTC-PERP | L +0.0104% / S +0.0048% | 1h | 86,481.7 | +0.007% | — | $98.5M | 500x | as long as short |
| Coinbase International BTC-PERP-INTX | +0.0120% | 1h | 86,521 | +0.052% | $132.4M | $5.38B | 50x | as long as short |
| Kraken Futures PF_XBTUSD | +0.0121% | 1h | 86,516.3 | +0.046% | $192.5M | $941.8M | 100x | as long as short |
| Hibachi BTC/USDT-P | +0.0168% | 1h | 86,502.2 | +0.030% | $711K | $7.9M | 30x | as long as short |
| Aftermath Perps BTCUSD | +0.0169% | 1h | 86,438.6 | −0.043% | $78K | $217K | 20x | as long as short |
| BloFin BTC-USDT | +0.0200% | 8h | 86,423.1 | −0.061% | $416.2M | $645.5M | 150x | as long as short |
| GMX BTC/USD [WBTC.b-USDC] | L +0.0205% / S −0.0220% | 1h | 86,476.3 | 0.000% | $14.5M | — | 200x | as long as short |
| Kalshi KXBTCPERP | +0.0208% | 8h | 86,483 | +0.008% | $10.4M | $763.7M | 6.4x | as long as short |
KuCoin XBTUSDTM
Reya BTCRUSDPERP
BingX BTC-USDC
RISEx BTC/USDC
Bitget BTCUSDT
Deribit BTC-PERPETUAL
MEXC BTC_USDT
Aevo BTC-PERP
Binance BTCUSDT
Lighter BTC
Lighter RH BTC
Popdex BTCUSDT
SoDEX BTC-USD
Katana Perps BTC-USD
Paradex BTC-USD-PERP
Nado BTC-PERP
Hyperliquid BTC
Pacifica BTC
Bybit BTCUSDT
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
Derive BTC-PERP
SunX BTC-USDT
HTX BTC-USDT
Bulk BTC-USD
Extended BTC-USD
Jupiter Perps WBTC-PERP
Coinbase International BTC-PERP-INTX
Kraken Futures PF_XBTUSD
Hibachi BTC/USDT-P
Aftermath Perps BTCUSD
BloFin BTC-USDT
GMX BTC/USD [WBTC.b-USDC]
Kalshi KXBTCPERP