BTC

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0108%/8h= −11.8% APRnext payment −$1.08 per $10,000 · paid last 24h −0.017%

Price spread now: KuCoin against Orderly+0.022%7-day average −0.003% · you sell dearer than you buy

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

Long on Orderly Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.103%−$10 on $10k

Price spread, last 4 days (all we have)+0.004%$0 · spread now +0.022%, 7d avg −0.003%

Together, before fees−0.099%−$10 on $10k · with fees, hour by hour

The price spread pays, funding is against you. KuCoin is 0.025% dearer against Orderly than usual: you sell high and buy low (spread +0.022% now, against its 7-day average of −0.003%): +$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 19 hours. At the pace of the last 7 days (−0.103% in total) that is about 41 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Orderly PERP_BTC_USDC	85,380	0.0100	pay 0.0100% / 8h	4h 39m	$2.4M	$8.8M	100x
Short	KuCoin XBTUSDTM	85,398.5	−0.0008	pay 0.0008% / 8h	4h 39m	$918.6M	$750.4M	125x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin against Orderly. 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 OrderlybpFee KuCoinbpOrdersPrice spread, now +0.022%Rate

Funding earned: −$22.68
Price spread: +0.022% → −0.003%: $2.52
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$38.16
Costs to cover: 0.180%
Break-even: never at this rate

Slippage unknown: Orderly: no order-book sample; KuCoin: live order book, 5 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 KuCoin live order book, 5 min ago	0.01 bp	6.2 bp −$6	8.0 bp −$80	10.1 bp −$1,008	doesn't fit

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	−0.0311%	1h	85,405.2	+0.030%	$206K	$739K	40x	as long as short
Phoenix BTC	−0.0179%	1h	85,385	+0.006%	$2.2M	$10.3M	40x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	85,449	+0.081%	$8K	$3K	50x	as long as short
01 Exchange BTCUSD	−0.0048%	1h	85,416.2	+0.042%	$366K	$2.3M	50x	as long as short
BloFin BTC-USDT	−0.0031%	8h	85,454.3	+0.087%	$416.4M	$665.7M	150x	as long as short
KuCoin XBTUSDTMshort	−0.0008%	8h	85,398.5	+0.022%	$918.6M	$750.4M	125x
gTrade (Gains Network) BTC/USD	L +0.0005% / S −0.0004%	1h	85,435.4	+0.065%	$36.5M	—	200x	as long as short
Aster BTCUSDT	+0.0012%	8h	85,404.1	+0.028%	$514.7M	$1.10B	200x	as long as short
dYdX BTC-USD	+0.0019%	1h	85,483.8	+0.122%	$16.7M	$21.2M	50x	as long as short
Arcus BTC-USD	+0.0021%	1h	85,398.2	+0.021%	$6.9M	$97.2M	40x	as long as short

Show all 56 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX BTC-USDC	+0.0060%	8h	85,419.6	+0.046%	—	$17.1M	—	as long as short
Nado BTC-PERP	+0.0061%	1h	85,422.1	+0.049%	$22.9M	$219.1M	50x	as long as short
Bitget BTCUSDT	+0.0076%	8h	85,424.8	+0.052%	$2.96B	$5.03B	150x	as long as short
Reya BTCRUSDPERP	+0.0079%	1h	85,418.9	+0.046%	$6.7M	$146.7M	40x	as long as short
Aevo BTC-PERP	+0.0088%	1h	85,474.4	+0.111%	$2.4M	$1.7M	20x	as long as short
MEXC BTC_USDT	+0.0089%	8h	85,428.9	+0.057%	$5.04B	$5.59B	500x	as long as short
Binance BTCUSDT	+0.0090%	8h	85,423.4	+0.051%	$9.35B	$24.05B	150x	as long as short
Lighter BTC	+0.0096%	1h	85,479.1	+0.116%	$173.1M	$1.00B	50x	as long as short
Lighter RH BTC	+0.0096%	1h	85,484.7	+0.123%	$23.8M	$148.6M	50x	as long as short
Popdex BTCUSDT	+0.0096%	1h	85,434	+0.063%	$8.4M	$52.7M	100x	as long as short
Phemex BTCUSDT	+0.0098%	8h	85,453.8	+0.086%	$149.6M	$484.3M	150x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	85,393	+0.015%	$225K	$8.0M	50x	as long as short
Paradex BTC-USD-PERP	+0.0100%	8h	85,487	+0.125%	$4.2M	$8.6M	50x	as long as short
Hyperliquid BTC	+0.0100%	1h	85,500	+0.141%	$3.74B	$4.97B	40x	as long as short
Pacifica BTC	+0.0100%	1h	85,489	+0.128%	$40.1M	$578.1M	50x	as long as short
Bybit BTCUSDT	+0.0100%	8h	85,398.3	+0.021%	$5.24B	$9.71B	150x	as long as short
OKX BTC-USDT-SWAP	+0.0100%	8h	85,361.1	−0.022%	$2.58B	$12.09B	100x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	85,421	+0.048%	$3.9M	$18.0M	25x	as long as short
Gate BTC_USDT	+0.0100%	8h	85,425.3	+0.053%	$5.53B	$10.62B	200x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	85,438.4	+0.068%	$35.7M	$176.2M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	85,453.7	+0.086%	$153.6M	$563.4M	—	as long as short
edgeX BTCUSDC	+0.0100%	4h	85,527.2	+0.172%	$279.4M	$916.4M	100x	as long as short
GRVT BTC_USDT_Perp	+0.0100%	8h	85,454	+0.087%	$214.5M	$169.8M	50x	as long as short
ApeX Omni BTCUSDT	+0.0100%	1h	85,439.1	+0.069%	$139.7M	$314.2M	100x	as long as short
StandX BTC-USD	+0.0100%	1h	85,450	+0.082%	$30.2M	$207.6M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	85,487.6	+0.126%	—	$11.8M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	85,429	+0.057%	$11.0M	$14.2M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	85,429	+0.057%	$193K	$3.3M	20x	as long as short
Orderly PERP_BTC_USDClong	+0.0100%	8h	85,380	long leg	$2.4M	$8.8M	100x
Derive BTC-PERP	+0.0100%	1h	85,475.7	+0.112%	$29.9M	$50.9M	15x	as long as short
SunX BTC-USDT	+0.0100%	8h	85,474.2	+0.110%	$2.9M	$6.1M	100x	as long as short
SoDEX BTC-USD	+0.0100%	1h	85,465	+0.100%	$59.9M	$336.1M	40x	as long as short
HTX BTC-USDT	+0.0100%	8h	85,450	+0.082%	$2.26B	$940.4M	200x	as long as short
Bulk BTC-USD	+0.0100%	1h	85,513.6	+0.156%	$649.6M	$594.9M	40x	as long as short
Extended BTC-USD	+0.0104%	1h	85,387.7	+0.009%	$44.5M	$226.5M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0056%	1h	85,434.4	+0.064%	—	$106.9M	500x	as long as short
Coinbase International BTC-PERP-INTX	+0.0104%	1h	85,504.6	+0.146%	$117.0M	$5.16B	50x	as long as short
Injective BTC/USDC PERP	+0.0150%	1h	85,539	+0.186%	$340K	$26.9M	52x	as long as short
Deribit BTC-PERPETUAL	+0.0163%	1h	85,511.2	+0.154%	$894.0M	$1.53B	50x	as long as short
Kraken Futures PF_XBTUSD	+0.0170%	1h	85,470.5	+0.106%	$188.3M	$954.2M	100x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0176% / S −0.0153%	1h	85,436.8	+0.066%	$13.4M	—	200x	as long as short
RISEx BTC/USDC	+0.0194%	1h	85,443.8	+0.075%	$8.3M	$42.4M	25x	as long as short
Hibachi BTC/USDT-P	+0.0200%	1h	85,536.6	+0.183%	$692K	$7.9M	30x	as long as short
Aftermath Perps BTCUSD	+0.0200%	1h	85,508	+0.150%	$78K	$219K	20x	as long as short
Kalshi KXBTCPERP	+0.0217%	8h	85,517	+0.160%	$10.3M	$758.8M	6.4x	as long as short
Perpl BTC	+0.0447%	43m	85,467.1	+0.102%	$497K	$18.9M	6.7x	as long as short