Funding you earn now, next payment 23:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.008%
Price spread now: Derive against Paradex−0.039%7-day average −0.030% · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 4 days (all we have)−0.039%−$4 on $10k
+Price spread, last 3 days (all we have)−0.052%−$5 · spread now −0.039%, 7d avg −0.030%
=Together, before fees−0.091%+ Points / potential airdropParadex: Active · farm board−$9 on $10k · with fees, hour by hour
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Paradex BTC-USD-PERP | 86,422.7 | 0.0100 | pay 0.0100% / 8h | 1h 14m | $4.8M | $8.5M | 50x |
| Short | Derive BTC-PERP | 86,389.1 | 0.0100 | get 0.0013% / 1h | 14m 45s | $30.6M | $61.6M | 15x |
Paradex BTC-USD-PERP
Derive BTC-PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Derive against Paradex. 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
- $0.04
- Price spread: −0.039% → −0.030%
- −$0.89
- Slippage, 4 orders
- no order book: not counted
- Fee Paradex: 2 bp × 2 orders
- −$4
- Fee Derive: 3 bp × 2 orders
- −$6
- Net
- −$10.85
- Costs to cover
- 0.100%
- Break-even
- 2039.7 days
Slippage unknown: Paradex: live order book, 4 min ago; Derive: no order-book sample. 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 Paradex live order book, 4 min ago | 1.04 bp | 3.0 bp −$3 | 3.0 bp −$30 | doesn't fit | doesn't fit |
| Sell Derive no order-book sample | — | — | — | — | — |
Derive: 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 | −0.0737% | 1h | 86,405.4 | −0.020% | $140K | $620K | 40x | as long as short |
| Phoenix BTC | −0.0159% | 1h | 86,402 | −0.024% | $2.2M | $11.8M | 40x | as long as short |
| Hotstuff BTC-PERP | −0.0080% | 1h | 86,386 | −0.042% | $9K | $3K | 50x | as long as short |
| 01 Exchange BTCUSD | −0.0016% | 1h | 86,392.3 | −0.035% | $360K | $2.4M | 50x | as long as short |
| Aster BTCUSDT | −0.0011% | 8h | 86,387.3 | −0.041% | $503.5M | $1.15B | 200x | as long as short |
| Perpl BTC | 0.0000% | 43m | 86,407.4 | −0.018% | $421K | $23.7M | 6.7x | as long as short |
| Deribit BTC-PERPETUAL | 0.0000% | 1h | 86,428.1 | +0.006% | $918.2M | $1.49B | 50x | as long as short |
| KuCoin XBTUSDTM | +0.0003% | 8h | 86,388.7 | −0.039% | $851.9M | $712.3M | 125x | as long as short |
| dYdX BTC-USD | +0.0005% | 1h | 86,406.9 | −0.018% | $17.0M | $21.1M | 50x | as long as short |
| gTrade (Gains Network) BTC/USD | L +0.0005% / S −0.0004% | 1h | 86,406.7 | −0.018% | $36.8M | — | 200x | as long as short |
Bluefin BTC-PERP
Phoenix BTC
Hotstuff BTC-PERP
01 Exchange BTCUSD
Aster BTCUSDT
Perpl BTC
Deribit BTC-PERPETUAL
KuCoin XBTUSDTM
dYdX BTC-USD
gTrade (Gains Network) BTC/USDShow all 56 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| RISEx BTC/USDC | +0.0006% | 1h | 86,390.8 | −0.037% | $8.4M | $42.8M | 25x | as long as short |
| Aftermath Perps BTCUSD | +0.0022% | 1h | 86,465.2 | +0.049% | $81K | $218K | 20x | as long as short |
| Reya BTCRUSDPERP | +0.0023% | 1h | 86,374.9 | −0.055% | $6.7M | $145.0M | 40x | as long as short |
| Injective BTC/USDC PERP | +0.0024% | 1h | 86,559 | +0.158% | $315K | $26.8M | 52x | as long as short |
| BingX BTC-USDT | +0.0036% | 8h | 86,397.2 | −0.029% | — | $1.59B | — | as long as short |
| Phemex BTCUSDT | +0.0040% | 8h | 86,396.9 | −0.030% | $150.0M | $477.0M | 150x | as long as short |
| Bitget BTCUSDT | +0.0046% | 8h | 86,392.6 | −0.035% | $2.95B | $5.10B | 150x | as long as short |
| MEXC BTC_USDT | +0.0063% | 8h | 86,394.9 | −0.032% | $5.14B | $5.70B | 500x | as long as short |
| Aevo BTC-PERP | +0.0064% | 1h | 86,383.8 | −0.045% | $2.4M | $1.3M | 20x | as long as short |
| Binance BTCUSDT | +0.0064% | 8h | 86,394 | −0.033% | $9.42B | $24.44B | 150x | as long as short |
| Gate BTC_USDT | +0.0079% | 8h | 86,397.8 | −0.029% | $5.84B | $10.74B | 200x | as long as short |
| Bybit BTCUSDT | +0.0093% | 8h | 86,384.9 | −0.044% | $5.25B | $9.78B | 150x | as long as short |
| Lighter BTC | +0.0096% | 1h | 86,400.6 | −0.026% | $170.6M | $1.01B | 50x | as long as short |
| Lighter RH BTC | +0.0096% | 1h | 86,415.6 | −0.008% | $24.1M | $152.5M | 50x | as long as short |
| Popdex BTCUSDT | +0.0096% | 1h | 86,385 | −0.044% | $8.4M | $52.4M | 100x | as long as short |
| Katana Perps BTC-USD | +0.0100% | 8h | 86,372 | −0.059% | $201K | $6.9M | 50x | as long as short |
| Paradex BTC-USD-PERPlong | +0.0100% | 8h | 86,422.7 | long leg | $4.8M | $8.5M | 50x | |
| Nado BTC-PERP | +0.0100% | 1h | 86,387.6 | −0.041% | $21.8M | $234.5M | 50x | as long as short |
| Hyperliquid BTC | +0.0100% | 1h | 86,460 | +0.043% | $3.80B | $5.10B | 40x | as long as short |
| Pacifica BTC | +0.0100% | 1h | 86,423 | 0.000% | $40.7M | $513.8M | 50x | as long as short |
| OKX BTC-USDT-SWAP | +0.0100% | 8h | 86,376.4 | −0.054% | $2.54B | $12.72B | 100x | as long as short |
| Ondo Perps BTC-USD.P | +0.0100% | 1h | 86,394 | −0.033% | $3.9M | $18.6M | 25x | as long as short |
| Arcus BTC-USD | +0.0100% | 1h | 86,454.4 | +0.037% | $7.8M | $94.8M | 40x | as long as short |
| Bulk BTC-USD | +0.0100% | 1h | 86,498.7 | +0.088% | $571.7M | $18.6M | 40x | as long as short |
| Backpack BTC_USDC_PERP | +0.0100% | 1h | 86,391.9 | −0.036% | $37.8M | $155.0M | 75x | as long as short |
| Variational Omni BTC | +0.0100% | 8h | 86,394.8 | −0.032% | $155.5M | $568.5M | — | as long as short |
| edgeX BTCUSDC | +0.0100% | 4h | 86,426.9 | +0.005% | $279.3M | $949.8M | 100x | as long as short |
| GRVT BTC_USDT_Perp | +0.0100% | 8h | 86,418.2 | −0.005% | $217.1M | $176.0M | 50x | as long as short |
| ApeX Omni BTCUSDT | +0.0100% | 1h | 86,418.4 | −0.005% | $141.3M | $323.7M | 100x | as long as short |
| StandX BTC-USD | +0.0100% | 1h | 86,402.9 | −0.023% | $30.7M | $203.7M | 40x | as long as short |
| Vest BTC-PERP | +0.0100% | 1h | 86,441.2 | +0.021% | — | $11.6M | 50x | as long as short |
| Polymarket Perps BTC-USD | +0.0100% | 1h | 86,385 | −0.044% | $11.1M | $13.8M | 50x | as long as short |
| Bullet BTC-USD | +0.0100% | 1h | 86,385.1 | −0.044% | $189K | $3.3M | 20x | as long as short |
| Orderly PERP_BTC_USDC | +0.0100% | 8h | 86,390.5 | −0.037% | $2.4M | $8.7M | 100x | as long as short |
| Derive BTC-PERPshort | +0.0100% | 1h | 86,389.1 | −0.039% | $30.6M | $61.6M | 15x | |
| SunX BTC-USDT | +0.0100% | 8h | 86,382.8 | −0.046% | $3.4M | $5.4M | 100x | as long as short |
| SoDEX BTC-USD | +0.0100% | 1h | 86,397 | −0.030% | $60.4M | $337.3M | 40x | as long as short |
| HTX BTC-USDT | +0.0100% | 8h | 86,382.6 | −0.046% | $2.29B | $968.6M | 200x | as long as short |
| Extended BTC-USD | +0.0104% | 1h | 86,366.9 | −0.064% | $45.5M | $226.2M | 50x | as long as short |
| Hibachi BTC/USDT-P | +0.0104% | 1h | 86,454.5 | +0.037% | $719K | $8.1M | 30x | as long as short |
| Jupiter Perps WBTC-PERP | L +0.0104% / S +0.0048% | 1h | 86,407.2 | −0.018% | — | $98.8M | 500x | as long as short |
| Coinbase International BTC-PERP-INTX | +0.0112% | 1h | 86,438 | +0.018% | $131.4M | $5.69B | 50x | as long as short |
| Kraken Futures PF_XBTUSD | +0.0121% | 1h | 86,422.3 | 0.000% | $191.2M | $943.8M | 100x | as long as short |
| BloFin BTC-USDT | +0.0184% | 8h | 86,397 | −0.030% | $414.4M | $653.6M | 150x | as long as short |
| GMX BTC/USD [WBTC.b-USDC] | L +0.0186% / S −0.0212% | 1h | 86,397.1 | −0.030% | $15.2M | — | 200x | as long as short |
| Kalshi KXBTCPERP | +0.0199% | 8h | 86,420 | −0.003% | $9.7M | $734.3M | 6.4x | as long as short |
RISEx BTC/USDC
Aftermath Perps BTCUSD
Reya BTCRUSDPERP
Injective BTC/USDC PERP
BingX BTC-USDT
Phemex BTCUSDT
Bitget BTCUSDT
MEXC BTC_USDT
Aevo BTC-PERP
Binance BTCUSDT
Gate BTC_USDT
Bybit BTCUSDT
Lighter BTC
Lighter RH BTC
Popdex BTCUSDT
Katana Perps BTC-USD
Nado BTC-PERP
Hyperliquid BTC
Pacifica BTC
OKX BTC-USDT-SWAP
Ondo Perps BTC-USD.P
Arcus BTC-USD
Bulk 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
Orderly PERP_BTC_USDC
SunX BTC-USDT
SoDEX BTC-USD
HTX BTC-USDT
Extended BTC-USD
Hibachi BTC/USDT-P
Jupiter Perps WBTC-PERP
Coinbase International BTC-PERP-INTX
Kraken Futures PF_XBTUSD
BloFin BTC-USDT
GMX BTC/USD [WBTC.b-USDC]
Kalshi KXBTCPERP