BTC

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0170%/8h= −18.6% APRnext payment −$0.21 per $10,000 · paid last 24h −0.029%

Price spread now: gTrade (Gains Network) against RISEx−0.070%47s7-day average −0.014% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$150.150% of the position

Long on RISEx Short on gTrade (Gains Network)

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.104%−$10 on $10k

Price spread, last 7 days+0.045%+$4 · spread now −0.070%, 7d avg −0.014%

Together, before fees−0.059%−$6 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$5 a day on $10k at the current rate, and gTrade (Gains Network) is 0.055% cheaper against RISEx than usual: you would sell low and buy high (−$6 if the spread goes back to its 7-day average of −0.014%). Swap the legs. The two prices were read 47 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	RISEx BTC/USDC	85,406.8	0.0174	pay 0.0022% / 1h	51m 37s	$8.7M	$42.7M	25x
Short	gTrade (Gains Network) BTC/USD	85,347.4	L +0.0004% / S −0.0004%	get 0.0001% / 1h	51m 37s	$36.5M	—	200x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

gTrade (Gains Network) against RISEx. 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 RISExbpFee gTrade (Gains Network)bpOrdersPrice spread, now −0.070%Rate

Funding earned: −$35.68
Price spread: −0.070% → −0.014%: −$5.54
Slippage, 4 orders: −$1.96
Fee RISEx: 3 bp × 2 orders: −$6
Fee gTrade (Gains Network): 3.5 bp × 2 orders: −$7
Net: −$56.18
Costs to cover: 0.150%
Break-even: never at this rate

Slippage from RISEx: live order book, 3 min ago; gTrade (Gains Network): virtual book (oracle venue), 3 min ago.

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 RISEx live order book, 3 min ago	0.01 bp	3.9 bp −$4	4.0 bp −$40	11.4 bp −$1,140	doesn't fit
Sell gTrade (Gains Network) virtual book (oracle venue), 3 min ago	0.51 bp	4.0 bp −$4	4.1 bp −$41	4.5 bp −$446	6.4 bp −$3,182

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
Hotstuff BTC-PERP	−0.0080%	1h	85,325	−0.096%	$8K	$3K	50x	as long as short
Phoenix BTC	−0.0034%	1h	85,409	+0.003%	$2.3M	$10.8M	40x	as long as short
KuCoin XBTUSDTM	−0.0030%	8h	85,386.9	−0.023%	$928.6M	$773.3M	125x	as long as short
BloFin BTC-USDT	−0.0023%	8h	85,310.6	−0.113%	$421.6M	$681.2M	150x	as long as short
ApeX Omni BTCUSDT	−0.0021%	1h	85,310.3	−0.113%	$139.5M	$313.0M	100x	as long as short
Aster BTCUSDT	−0.0005%	8h	85,382	−0.029%	$512.2M	$1.08B	200x	as long as short
01 Exchange BTCUSD	0.0000%	1h	85,390.2	−0.019%	$351K	$2.3M	50x	as long as short
Perpl BTC	0.0000%	43m	85,333.8	−0.085%	$490K	$18.3M	6.7x	as long as short
dYdX BTC-USD	+0.0001%	1h	85,388.7	−0.021%	$16.7M	$21.0M	50x	as long as short
gTrade (Gains Network) BTC/USDshort	L +0.0004% / S −0.0004%	1h	85,347.4	−0.070%	$36.5M	—	200x

Show all 56 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Kraken Futures PF_XBTUSD	+0.0026%	1h	85,362.2	−0.052%	$185.7M	$951.6M	100x	as long as short
Injective BTC/USDC PERP	+0.0067%	1h	85,367	−0.047%	$338K	$24.6M	52x	as long as short
BingX BTC-USDC	+0.0071%	8h	85,358.7	−0.056%	—	$17.3M	—	as long as short
Nado BTC-PERP	+0.0084%	1h	85,392.4	−0.017%	$24.1M	$219.7M	50x	as long as short
Bybit BTCUSDT	+0.0085%	8h	85,382.3	−0.029%	$5.14B	$9.98B	150x	as long as short
Bitget BTCUSDT	+0.0091%	8h	85,377.4	−0.034%	$2.97B	$5.17B	150x	as long as short
Lighter BTC	+0.0096%	1h	85,402.8	−0.005%	$169.5M	$1.01B	50x	as long as short
Lighter RH BTC	+0.0096%	1h	85,393	−0.016%	$23.6M	$147.6M	50x	as long as short
Popdex BTCUSDT	+0.0096%	1h	85,384	−0.027%	$8.4M	$57.3M	100x	as long as short
MEXC BTC_USDT	+0.0096%	8h	85,380.6	−0.031%	$5.04B	$5.71B	500x	as long as short
Aevo BTC-PERP	+0.0096%	1h	85,329.7	−0.090%	$2.4M	$6.7M	20x	as long as short
Binance BTCUSDT	+0.0097%	8h	85,384.3	−0.026%	$9.40B	$24.97B	150x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	85,358	−0.057%	$267K	$8.6M	50x	as long as short
Paradex BTC-USD-PERP	+0.0100%	8h	85,426.5	+0.023%	$5.8M	$9.5M	50x	as long as short
Hyperliquid BTC	+0.0100%	1h	85,473	+0.077%	$3.75B	$5.06B	40x	as long as short
Pacifica BTC	+0.0100%	1h	85,413.7	+0.008%	$40.0M	$605.4M	50x	as long as short
OKX BTC-USDT-SWAP	+0.0100%	8h	85,392	−0.017%	$2.60B	$12.20B	100x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	85,388	−0.022%	$3.8M	$17.2M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	85,383.4	−0.027%	$5.1M	$96.0M	40x	as long as short
Bulk BTC-USD	+0.0100%	1h	85,324.1	−0.097%	$690.8M	$302.3M	40x	as long as short
Gate BTC_USDT	+0.0100%	8h	85,383.8	−0.027%	$5.54B	$11.00B	200x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	85,338.2	−0.080%	$37.1M	$184.7M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	85,296	−0.130%	$156.1M	$556.1M	—	as long as short
edgeX BTCUSDC	+0.0100%	4h	85,296.6	−0.129%	$279.4M	$954.4M	100x	as long as short
GRVT BTC_USDT_Perp	+0.0100%	8h	85,315.9	−0.106%	$214.1M	$158.8M	50x	as long as short
StandX BTC-USD	+0.0100%	1h	85,323.1	−0.098%	$30.1M	$208.5M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	85,388.5	−0.021%	—	$9.9M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	85,337	−0.082%	$11.0M	$14.6M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	85,339	−0.079%	$197K	$3.3M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	85,331.2	−0.089%	$2.6M	$9.8M	100x	as long as short
Bluefin BTC-PERP	+0.0100%	1h	85,369	−0.044%	$194K	$795K	40x	as long as short
Derive BTC-PERP	+0.0100%	1h	85,312.8	−0.110%	$30.0M	$45.9M	15x	as long as short
SunX BTC-USDT	+0.0100%	8h	85,307	−0.117%	$2.9M	$6.1M	100x	as long as short
SoDEX BTC-USD	+0.0100%	1h	85,336	−0.083%	$59.7M	$336.6M	40x	as long as short
HTX BTC-USDT	+0.0100%	8h	85,326	−0.095%	$2.26B	$964.3M	200x	as long as short
Phemex BTCUSDT	+0.0100%	8h	85,357.1	−0.058%	$157.4M	$512.9M	150x	as long as short
Extended BTC-USD	+0.0104%	1h	85,353.5	−0.062%	$45.6M	$241.0M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0056%	1h	85,327.5	−0.093%	—	$104.3M	500x	as long as short
Coinbase International BTC-PERP-INTX	+0.0104%	1h	85,369.9	−0.043%	$112.7M	$5.47B	50x	as long as short
Reya BTCRUSDPERP	+0.0136%	1h	85,322.2	−0.099%	$6.6M	$146.9M	40x	as long as short
Deribit BTC-PERPETUAL	+0.0154%	1h	85,381.4	−0.030%	$841.9M	$1.65B	50x	as long as short
Kalshi KXBTCPERP	+0.0169%	8h	85,361	−0.054%	$11.9M	$738.0M	6.4x	as long as short
RISEx BTC/USDClong	+0.0174%	1h	85,406.8	long leg	$8.7M	$42.7M	25x
GMX BTC/USD [WBTC.b-USDC]	L +0.0175% / S −0.0147%	1h	85,344.7	−0.073%	$13.0M	—	200x	as long as short
Hibachi BTC/USDT-P	+0.0200%	1h	85,382.5	−0.028%	$684K	$7.8M	30x	as long as short
Aftermath Perps BTCUSD	+0.0285%	1h	85,356	−0.060%	$79K	$247K	20x	as long as short