Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.017%
Price spread now: Phemex against Orderly−0.002%7-day average −0.001% · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 7 days−0.100%−$10 on $10k
+Price spread, last 3 days (all we have)−0.021%−$2 · spread now −0.002%, 7d avg −0.001%
=| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Orderly PERP_BTC_USDC | 85,671.7 | 0.0100 | pay 0.0100% / 8h | 6h 41m | $2.4M | $9.1M | 100x |
| Short | Phemex BTCUSDT | 85,670.4 | 0.0100 | get 0.0100% / 8h | 6h 41m | $154.0M | $480.3M | 150x |
Orderly PERP_BTC_USDC
Phemex BTCUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phemex 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
- $0
- Price spread: −0.002% → −0.001%
- −$0.1
- Slippage, 4 orders
- no order book: not counted
- Fee Orderly: 3 bp × 2 orders
- −$6
- Fee Phemex: 6 bp × 2 orders
- −$12
- Net
- −$18.1
- Costs to cover
- 0.180%
- Break-even
- never at this rate
Slippage unknown: Orderly: no order-book sample; Phemex: 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 Orderly no order-book sample | — | — | — | — | — |
| Sell Phemex live order book, 3 min ago | 0.01 bp | 6.0 bp −$6 | 6.9 bp −$69 | 8.1 bp −$809 | 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 | |
|---|---|---|---|---|---|---|---|---|
| Phoenix BTC | −0.0144% | 1h | 85,678 | +0.007% | $2.2M | $10.5M | 40x | as long as short |
| Hotstuff BTC-PERP | −0.0080% | 1h | 85,691 | +0.023% | $8K | $3K | 50x | as long as short |
| BloFin BTC-USDT | −0.0078% | 8h | 85,853 | +0.212% | $415.8M | $658.2M | 150x | as long as short |
| 01 Exchange BTCUSD | −0.0056% | 1h | 85,643.7 | −0.033% | $364K | $2.3M | 50x | as long as short |
| dYdX BTC-USD | 0.0000% | 1h | 85,687.3 | +0.018% | $16.8M | $20.6M | 50x | as long as short |
| Perpl BTC | 0.0000% | 43m | 85,669.3 | −0.003% | $508K | $21.2M | 6.7x | as long as short |
| gTrade (Gains Network) BTC/USD | L +0.0004% / S −0.0004% | 1h | 85,684.9 | +0.015% | $36.6M | — | 200x | as long as short |
| Injective BTC/USDC PERP | +0.0020% | 1h | 85,810 | +0.161% | $341K | $26.9M | 52x | as long as short |
| Aster BTCUSDT | +0.0037% | 8h | 85,668.1 | −0.004% | $496.9M | $1.13B | 200x | as long as short |
| KuCoin XBTUSDTM | +0.0040% | 8h | 85,655.2 | −0.019% | $893.6M | $757.3M | 125x | as long as short |
Phoenix BTC
Hotstuff BTC-PERP
BloFin BTC-USDT
01 Exchange BTCUSD
dYdX BTC-USD
Perpl BTC
gTrade (Gains Network) BTC/USD
Injective BTC/USDC PERP
Aster BTCUSDT
KuCoin XBTUSDTMShow all 56 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| RISEx BTC/USDC | +0.0044% | 1h | 85,667 | −0.006% | $8.1M | $42.5M | 25x | as long as short |
| BingX BTC-USDT | +0.0054% | 8h | 85,661.3 | −0.012% | — | $1.59B | — | as long as short |
| Reya BTCRUSDPERP | +0.0054% | 1h | 85,641.8 | −0.035% | $6.7M | $146.1M | 40x | as long as short |
| Bitget BTCUSDT | +0.0068% | 8h | 85,647.1 | −0.029% | $2.95B | $5.14B | 150x | as long as short |
| HTX BTC-USDT | +0.0072% | 8h | 85,655.3 | −0.019% | $2.27B | $969.7M | 200x | as long as short |
| Nado BTC-PERP | +0.0077% | 1h | 85,655.2 | −0.019% | $22.7M | $229.7M | 50x | as long as short |
| Binance BTCUSDT | +0.0088% | 8h | 85,646.3 | −0.030% | $9.32B | $24.59B | 150x | as long as short |
| MEXC BTC_USDT | +0.0088% | 8h | 85,645 | −0.031% | $5.11B | $5.68B | 500x | as long as short |
| Aevo BTC-PERP | +0.0088% | 1h | 85,665.2 | −0.008% | $2.5M | $1.8M | 20x | as long as short |
| Lighter BTC | +0.0096% | 1h | 85,652.4 | −0.023% | $169.2M | $980.5M | 50x | as long as short |
| Lighter RH BTC | +0.0096% | 1h | 85,656.1 | −0.018% | $23.3M | $145.3M | 50x | as long as short |
| Popdex BTCUSDT | +0.0096% | 1h | 85,646 | −0.030% | $8.4M | $52.6M | 100x | as long as short |
| Gate BTC_USDT | +0.0099% | 8h | 85,659.9 | −0.014% | $5.65B | $10.40B | 200x | as long as short |
| Katana Perps BTC-USD | +0.0100% | 8h | 85,632 | −0.046% | $209K | $7.5M | 50x | as long as short |
| Paradex BTC-USD-PERP | +0.0100% | 8h | 85,710 | +0.045% | $3.8M | $8.7M | 50x | as long as short |
| Hyperliquid BTC | +0.0100% | 1h | 85,715 | +0.051% | $3.76B | $5.04B | 40x | as long as short |
| Pacifica BTC | +0.0100% | 1h | 85,680.6 | +0.010% | $40.8M | $569.6M | 50x | as long as short |
| Bybit BTCUSDT | +0.0100% | 8h | 85,656 | −0.018% | $5.27B | $9.82B | 150x | as long as short |
| OKX BTC-USDT-SWAP | +0.0100% | 8h | 85,650.1 | −0.025% | $2.55B | $12.52B | 100x | as long as short |
| Ondo Perps BTC-USD.P | +0.0100% | 1h | 85,644 | −0.032% | $3.9M | $17.9M | 25x | as long as short |
| Arcus BTC-USD | +0.0100% | 1h | 85,641.8 | −0.035% | $7.3M | $98.3M | 40x | as long as short |
| Backpack BTC_USDC_PERP | +0.0100% | 1h | 85,676.9 | +0.006% | $35.1M | $163.5M | 75x | as long as short |
| Variational Omni BTC | +0.0100% | 8h | 85,783.2 | +0.130% | $155.9M | $552.3M | — | as long as short |
| edgeX BTCUSDC | +0.0100% | 4h | 85,806 | +0.157% | $278.1M | $938.4M | 100x | as long as short |
| GRVT BTC_USDT_Perp | +0.0100% | 8h | 85,740.2 | +0.080% | $215.2M | $164.7M | 50x | as long as short |
| ApeX Omni BTCUSDT | +0.0100% | 1h | 85,842.7 | +0.200% | $140.4M | $321.1M | 100x | as long as short |
| StandX BTC-USD | +0.0100% | 1h | 85,805.4 | +0.156% | $30.4M | $207.4M | 40x | as long as short |
| Vest BTC-PERP | +0.0100% | 1h | 85,714 | +0.049% | — | $11.8M | 50x | as long as short |
| Polymarket Perps BTC-USD | +0.0100% | 1h | 85,648 | −0.028% | $11.0M | $14.3M | 50x | as long as short |
| Bullet BTC-USD | +0.0100% | 1h | 85,645.8 | −0.030% | $192K | $3.3M | 20x | as long as short |
| Orderly PERP_BTC_USDClong | +0.0100% | 8h | 85,671.7 | long leg | $2.4M | $9.1M | 100x | |
| Bluefin BTC-PERP | +0.0100% | 1h | 85,709.9 | +0.045% | $186K | $709K | 40x | as long as short |
| Derive BTC-PERP | +0.0100% | 1h | 85,682.5 | +0.013% | $29.9M | $57.4M | 15x | as long as short |
| SunX BTC-USDT | +0.0100% | 8h | 85,638.1 | −0.039% | $2.9M | $6.6M | 100x | as long as short |
| SoDEX BTC-USD | +0.0100% | 1h | 85,672 | 0.000% | $60.0M | $337.8M | 40x | as long as short |
| Phemex BTCUSDTshort | +0.0100% | 8h | 85,670.4 | −0.002% | $154.0M | $480.3M | 150x | |
| Bulk BTC-USD | +0.0100% | 1h | 85,804.9 | +0.155% | $582.3M | $118.5M | 40x | as long as short |
| Extended BTC-USD | +0.0104% | 1h | 85,634.2 | −0.044% | $44.9M | $227.6M | 50x | as long as short |
| Jupiter Perps WBTC-PERP | L +0.0104% / S +0.0056% | 1h | 85,716.7 | +0.053% | — | $101.7M | 500x | as long as short |
| Coinbase International BTC-PERP-INTX | +0.0112% | 1h | 85,706 | +0.040% | $131.3M | $5.26B | 50x | as long as short |
| Deribit BTC-PERPETUAL | +0.0130% | 1h | 85,710.8 | +0.046% | $892.9M | $1.54B | 50x | as long as short |
| Hibachi BTC/USDT-P | +0.0136% | 1h | 85,704.9 | +0.039% | $708K | $7.9M | 30x | as long as short |
| Kraken Futures PF_XBTUSD | +0.0146% | 1h | 85,691.7 | +0.023% | $188.7M | $970.8M | 100x | as long as short |
| Aftermath Perps BTCUSD | +0.0150% | 1h | 85,794.3 | +0.143% | $77K | $217K | 20x | as long as short |
| GMX BTC/USD [WBTC.b-USDC] | L +0.0204% / S −0.0194% | 1h | 85,678.9 | +0.008% | $13.8M | — | 200x | as long as short |
| Kalshi KXBTCPERP | +0.0206% | 8h | 85,728 | +0.066% | $10.0M | $770.4M | 6.4x | as long as short |
RISEx BTC/USDC
BingX BTC-USDT
Reya BTCRUSDPERP
Bitget BTCUSDT
HTX BTC-USDT
Nado BTC-PERP
Binance BTCUSDT
MEXC BTC_USDT
Aevo BTC-PERP
Lighter BTC
Lighter RH BTC
Popdex BTCUSDT
Gate BTC_USDT
Katana Perps BTC-USD
Paradex BTC-USD-PERP
Hyperliquid BTC
Pacifica BTC
Bybit BTCUSDT
OKX BTC-USDT-SWAP
Ondo Perps BTC-USD.P
Arcus BTC-USD
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
Bluefin BTC-PERP
Derive BTC-PERP
SunX BTC-USDT
SoDEX BTC-USD
Bulk BTC-USD
Extended BTC-USD
Jupiter Perps WBTC-PERP
Coinbase International BTC-PERP-INTX
Deribit BTC-PERPETUAL
Hibachi BTC/USDT-P
Kraken Futures PF_XBTUSD
Aftermath Perps BTCUSD
GMX BTC/USD [WBTC.b-USDC]
Kalshi KXBTCPERP