All BTC pairs

BTC funding carry: Binance vs dYdX

Entering and exiting this pair costs 2E+1 bps of notional at taker fees (6 bps at maker). Funding has to pay that back before the trade is worth anything — here is how long that takes.

Right now

Gross funding APR
12.65%
Net APY on $10k
0.95%
Break-even
155.34h
Net positive for
0m
  • Net positive for only 0 min — needs ~155.34h to break even on entry/exit costs.
  • Thin net (below threshold at the reference profile)
Short
binance perp
BTC/USDT
Trade on binance
Long
dydx perp
BTC/USD
Trade on dydx

Last 30 days

Above its costs
15.1% of the time
Net APY when above costs
13.87%
Net APY when below costs
-5.71%
Best single hour
65.08%

Measured on 420 hours of ranking we recorded ourselves.

Round-trip cost

Venue Taker Maker Perp instrument
Binance 5 2 BTCUSDT
dYdX 5 1 BTC-USD

Other BTC pairs

How long funding takes to repay the entry

At a given gross funding APR, this is how many hours you must hold before the position has paid back entry and exit. Below that, a positive APR is still a loss.

Gross funding APR Taker in / out Maker in / out
5% 350h (14d) 105h (4d)
10% 175h (7d) 53h (2d)
20% 88h (3d) 26h
50% 35h 11h