BTC

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0096%/8h= −10.5% APRnext payment −$0.12 per $10,000 · paid last 24h −0.016%

Price spread now: gTrade (Gains Network) against SoDEX+0.004%7-day average +0.017% · you sell dearer than you buy

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

Net, price: spread back to 7d avg − costs−$18as in the Price arb table

costs, in and out, $10k−$160.161% of the position

Long on SoDEX Short on gTrade (Gains Network)

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.070%−$7 on $10k

Price spread, last 4 days (all we have)+0.039%+$4 · spread now +0.004%, 7d avg +0.017%

Together, before fees−0.031%−$3 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.017%, 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	SoDEX BTC-USD	85,247	0.0100	pay 0.0013% / 1h	10m 52s	$59.7M	$336.5M	40x
Short	gTrade (Gains Network) BTC/USD	85,250.1	L +0.0004% / S −0.0004%	get 0.0001% / 1h	10m 52s	$36.5M	—	200x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

gTrade (Gains Network) against SoDEX. 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 SoDEXbpFee gTrade (Gains Network)bpOrdersPrice spread, now +0.004%Rate

Funding earned: −$20.1
Price spread: +0.004% → +0.017%: −$1.35
Slippage, 4 orders: −$1.15
Fee SoDEX: 4 bp × 2 orders: −$8
Fee gTrade (Gains Network): 3.5 bp × 2 orders: −$7
Net: −$37.6
Costs to cover: 0.161%
Break-even: never at this rate

Slippage from SoDEX: 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 SoDEX live order book, 3 min ago	0.06 bp	4.1 bp −$4	4.1 bp −$41	4.8 bp −$476	38.4 bp −$19.2K
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 −$3,183

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	85,253	+0.007%	$8K	$3K	50x	as long as short
Phoenix BTC	−0.0034%	1h	85,304	+0.067%	$2.3M	$10.8M	40x	as long as short
BloFin BTC-USDT	−0.0020%	8h	85,240.2	−0.008%	$421.3M	$686.0M	150x	as long as short
KuCoin XBTUSDTM	−0.0011%	8h	85,245.7	−0.002%	$927.1M	$777.1M	125x	as long as short
01 Exchange BTCUSD	0.0000%	1h	85,264.3	+0.020%	$343K	$2.3M	50x	as long as short
gTrade (Gains Network) BTC/USDshort	L +0.0004% / S −0.0004%	1h	85,250.1	+0.004%	$36.5M	—	200x
Aster BTCUSDT	+0.0008%	8h	85,250	+0.004%	$509.2M	$1.09B	200x	as long as short
dYdX BTC-USD	+0.0018%	1h	85,277.8	+0.036%	$16.7M	$21.0M	50x	as long as short
Kraken Futures PF_XBTUSD	+0.0026%	1h	85,279	+0.038%	$185.8M	$953.5M	100x	as long as short
BingX BTC-USDC	+0.0064%	8h	85,225	−0.026%	—	$17.4M	—	as long as short

Show all 56 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Injective BTC/USDC PERP	+0.0067%	1h	85,200	−0.055%	$310K	$25.7M	52x	as long as short
Bybit BTCUSDT	+0.0082%	8h	85,242.1	−0.006%	$5.09B	$10.03B	150x	as long as short
Nado BTC-PERP	+0.0090%	1h	85,229	−0.021%	$24.1M	$221.2M	50x	as long as short
ApeX Omni BTCUSDT	+0.0096%	1h	85,281.8	+0.041%	$139.7M	$312.0M	100x	as long as short
Lighter BTC	+0.0096%	1h	85,268	+0.025%	$168.8M	$1.02B	50x	as long as short
Lighter RH BTC	+0.0096%	1h	85,267.4	+0.024%	$23.6M	$149.0M	50x	as long as short
Popdex BTCUSDT	+0.0096%	1h	85,253	+0.007%	$8.4M	$57.7M	100x	as long as short
Aevo BTC-PERP	+0.0096%	1h	85,239.1	−0.009%	$2.4M	$6.7M	20x	as long as short
Bitget BTCUSDT	+0.0098%	8h	85,245.9	−0.001%	$2.97B	$5.21B	150x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	85,232	−0.018%	$269K	$8.7M	50x	as long as short
Paradex BTC-USD-PERP	+0.0100%	8h	85,277.6	+0.036%	$5.8M	$9.6M	50x	as long as short
Pacifica BTC	+0.0100%	1h	85,249.6	+0.003%	$40.3M	$604.7M	50x	as long as short
Binance BTCUSDT	+0.0100%	8h	85,245.9	−0.001%	$9.39B	$25.17B	150x	as long as short
OKX BTC-USDT-SWAP	+0.0100%	8h	85,240	−0.008%	$2.60B	$12.26B	100x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	85,228	−0.022%	$3.8M	$17.3M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	85,265.5	+0.022%	$4.7M	$97.6M	40x	as long as short
Gate BTC_USDT	+0.0100%	8h	85,245.6	−0.002%	$5.49B	$11.16B	200x	as long as short
MEXC BTC_USDT	+0.0100%	8h	85,244.4	−0.003%	$5.02B	$5.77B	500x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	85,254.9	+0.009%	$36.9M	$190.4M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	85,228.2	−0.022%	$155.9M	$548.6M	—	as long as short
edgeX BTCUSDC	+0.0100%	4h	85,184.8	−0.073%	$282.5M	$959.6M	100x	as long as short
GRVT BTC_USDT_Perp	+0.0100%	8h	85,282.2	+0.041%	$214.0M	$159.8M	50x	as long as short
StandX BTC-USD	+0.0100%	1h	85,244.9	−0.002%	$30.1M	$213.7M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	85,327.5	+0.094%	—	$10.6M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	85,256	+0.011%	$10.9M	$15.0M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	85,247	0.000%	$197K	$3.3M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	85,250.2	+0.004%	$2.6M	$9.8M	100x	as long as short
Bluefin BTC-PERP	+0.0100%	1h	85,286.8	+0.047%	$194K	$795K	40x	as long as short
Derive BTC-PERP	+0.0100%	1h	85,275.3	+0.033%	$28.8M	$45.1M	15x	as long as short
SunX BTC-USDT	+0.0100%	8h	85,212.7	−0.040%	$2.9M	$6.1M	100x	as long as short
SoDEX BTC-USDlong	+0.0100%	1h	85,247	long leg	$59.7M	$336.5M	40x
HTX BTC-USDT	+0.0100%	8h	85,240.6	−0.008%	$2.25B	$974.0M	200x	as long as short
Phemex BTCUSDT	+0.0100%	8h	85,256	+0.011%	$158.9M	$516.0M	150x	as long as short
Bulk BTC-USD	+0.0100%	1h	85,240	−0.008%	$693.3M	$214.1M	40x	as long as short
Hyperliquid BTC	+0.0103%	1h	85,346	+0.116%	$3.78B	$5.11B	40x	as long as short
Extended BTC-USD	+0.0104%	1h	85,226.1	−0.025%	$45.4M	$241.0M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0056%	1h	85,260.3	+0.016%	—	$106.7M	500x	as long as short
Coinbase International BTC-PERP-INTX	+0.0104%	1h	85,304	+0.067%	$111.8M	$5.47B	50x	as long as short
Deribit BTC-PERPETUAL	+0.0107%	1h	85,284.2	+0.044%	$836.1M	$1.66B	50x	as long as short
Reya BTCRUSDPERP	+0.0143%	1h	85,247.6	+0.001%	$6.6M	$142.2M	40x	as long as short
Kalshi KXBTCPERP	+0.0172%	8h	85,269	+0.026%	$12.0M	$737.8M	6.4x	as long as short
RISEx BTC/USDC	+0.0174%	1h	85,276.5	+0.035%	$8.8M	$43.0M	25x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0174% / S −0.0146%	1h	85,261.1	+0.017%	$13.0M	—	200x	as long as short
Hibachi BTC/USDT-P	+0.0264%	1h	85,301.7	+0.064%	$696K	$7.7M	30x	as long as short
Aftermath Perps BTCUSD	+0.0299%	1h	85,265.3	+0.021%	$80K	$247K	20x	as long as short
Perpl BTC	+0.0447%	43m	85,245.8	−0.001%	$464K	$18.3M	6.7x	as long as short