Bitcoin (BTC) perpetual futures
BTC perpetual contracts on 29 reviewed venues.
PerpFinder may earn a commission from this link. You can lose all your money on perp trades. Details
Funding rates
Annualized rates across exchanges
HyperliquidDEX
ParadexDEX
OrderlyDEX
BitgetCEX
Open interest
Per-exchange open interest
Binance
BybitHyperliquidBitget
OKX
Gate.io
KuCoin
Crypto.comLong/short ratio
Account-level positioning
BinanceBybitOKXBitgetGate.io
HTXCost comparison
Fee plus slippage for a $100K trade
The live order-book read loads in your browser. Stored values are on the cost comparison tool.
What the BTC data shows
In the stored cost sweep of October 3, 2026, Lighter had the lowest measured cost for a $10,000 BTC market buy: 0.31 bps, among 39 ranked venues. At $1,000,000, Lighter kept rank 1 at 1.10 bps. The books of 5 venues could not fill that order.
Funding direction differs by venue: longs pay on Hibachi, GRVT, and 13 more; longs receive on OKX, Apex Omni, and 5 more; the rate is zero on Deribit and dYdX. The rates run from +20.15% a year on Hibachi to -12.61% on Crypto.com.
No venue holds half of the $26.32b in reported BTC open interest. Binance has the largest share, 31.4%, and Bybit is next with 18.0%.
The BTC settlement periods differ: 13 venues settle every 8 hours; 5 venues settle every hour.
CoinGecko ranked BTC number 1 by market value on October 3, 2026, at $1.70t. Its price rose 0.8% in the 7 days before that date. The open interest in this read equals 1.5% of that value.
Bluefin quoted BTC at $84 712 and Bybit at $84 642, a gap of 8.3 bps.
Measured BTC cost by venue and order size
- Source: public APIs of 24 venues for BTC, read at October 3, 2026, 12:07 UTC.
- Cost: stored sweep measured at October 3, 2026, 06:55 UTC, cost methodology version 9.
- Market value: CoinGecko snapshot of October 3, 2026.
Where to Trade Bitcoin (BTC) Perpetual Futures
Fees and leverage limits apply venue-wide; confirm BTC limits with the venue.
| Venue | Maker | Taker | Max leverage | Rating | Trade |
|---|---|---|---|---|---|
| 0.015% | 0.045% | 40x | 9.2 | BTC | |
| 0.010% | 0.050% | 50x | 9.0 | BTC | |
| 0.04% or 0.06% position fee | 100x | 8.5 | BTC | ||
| 0.06% position fee | 250x | 8.3 | BTC | ||
| 0.035% position fee | 1000x | 8.0 | BTC | ||
| 0.010% | 0.035% | 50x | 8.0 | BTC | |
| 0.020% | 0.050% | 100x | 8.0 | BTC | |
| 0.010% | 0.020% | 100x | 7.8 | BTC | |
| Free | 0.030% | 50x | 7.8 | BTC | |
| -0.010% | 0.017% | 1000x | 7.8 | BTC | |
| 0.050% | 0.080% | 20x | 7.5 | BTC | |
| Free | 0.040% | 200x | 7.5 | BTC | |
| 0.040% | 0.045% | 100x | 7.5 | BTC | |
| Free | 0.000% | 50x | 7.5 | BTC | |
| 0.01%, 0.02%, 0.03%, 0.05%, or 0.06% position fee | 200x | 7.5 | BTC | ||
| Free | 0.000% | 50x | 7.5 | BTC | |
| 0.03% position fee | 100x | 7.5 | BTC | ||
| 0.01% or 0.045% position fee | 100x | 7.0 | BTC | ||
| 0.045% or 0.055% position fee | 100x | 7.0 | BTC | ||
| Free | 0.025% | 100x | 7.0 | BTC | |
| -0.000% | 0.045% | 50x | 7.0 | BTC | |
| 0.04% or 0.06% position fee | 100x | 6.5 | BTC | ||
| 0.020% | 0.050% | 100x | 6.5 | BTC | |
| 0.020% | 0.050% | 50x | 6.5 | BTC | |
| 0.015% | 0.040% | 50x | 6.5 | BTC | |
| 0.010% | 0.040% | 40x | 6.5 | BTC | |
| Free | 0.045% | 30x | 6.5 | BTC | |
| 0.010% | 0.035% | 100x | 6.0 | BTC | |
| 0.020% | 0.050% | 100x | 6.0 | BTC | |
Bitcoin (BTC) market overview
A BTC perpetual futures contract tracks Bitcoin prices without a fixed expiry date. A position gives price exposure; it does not transfer spendable bitcoin to your crypto wallet. The venue sets the collateral, payment currency, and rules for closing the position.
Bitcoin ownership and contract value
The Bitcoin FAQ explains how private keys authorize bitcoin transfers. Holding a BTC contract does not give you keys to an equivalent amount of bitcoin. A contract balance and a Bitcoin network balance serve different purposes.
The BTC symbol alone does not describe how a contract calculates profit. For example, Hyperliquid documents contracts with USDC collateral and USDC payments in its contract specifications. The same documentation distinguishes the currency of the price reference from the currency of the payment. Check both currencies before you compare BTC positions across venues.
Read the BTC data by measurement
Open interest measures the value of open contracts. A large BTC open interest figure does not show how much an order can trade near the quoted price. Order-book depth answers that execution question for a stated order size and time.
The funding comparison measures payments between long and short positions under each venue's rules. A difference between two BTC rates does not include the cost of opening and closing both positions. A missing venue or rate also limits the comparison.
Compare entry costs separately
The BTC cost comparison supports measured entry estimates for the selected size and side. Its scope covers one-way entry; funding and closing costs remain separate. BTC held as collateral can also change in dollar value while the contract remains open. A stablecoin used as collateral carries its own price and issuer risks.
Frequently Asked Questions — Bitcoin (BTC)
What funding data is available for BTC?
24 venues report a BTC funding rate in this read.
An annualized BTC rate extrapolates one reading and does not predict a return.
What open interest data is available for BTC?
19 venues report positive BTC open interest in this read.
The BTC total leaves out venues outside the read.
Does PerpFinder show a BTC long/short ratio?
This read has BTC account ratios from 6 venues.
A ratio counts accounts, not position value.
Can I compare measured BTC trading costs?
Yes.
The cost comparison measures one-way BTC entry cost by order size and side. Funding and closing costs are separate.
Which mapped venue has the lowest recorded BTC taker fee?
Paradex lists 0.000% and Lighter lists 0.000%, the two lowest of 21 mapped BTC maker/taker schedules.
8 BTC venues charge a position fee and are not compared.
Category: Layer 1
Explore measured BTC spread and order-book depth in our September CEX liquidity report. The report states its observation period, venue sample, and measurement limits.