BTC · USDT & USDC perpetuals

	Venue	Bid	Ask	Mid	Tick / Step	Fees (M / T)	Funding	Next funding	3h vol	24h vol	Contract risk
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Perpetual price

Best bid/ask midpoint · venue-coloured dotted lines show next funding times

Bid/ask midpoint A − B · venue-coloured dotted lines show next funding times

Solid: official premium-index formula · dots: actual settlements · venue-coloured dotted vertical lines: next funding times

Calculation verification

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Paper

AssetIntentSet / update target

Venue ASettlement

Venue BSettlement

Buy A−B ≤bpsExit A−Bbps

Portfolio target per legUSDMaximum slice per legUSD

Strategy modeSignal source

Automation rules

Trigger lookbacksecMean lookbacksec

Impulse movebpsEntry distancebps

Exit distancebpsMin weak volumeUSD / 10m

Max inventoryUSD / legVolume lookbacksec

Direction follows the signal Exit when next funding is adverse

Pair leverage 1×max 1×

Cross marginNot configured

Basis after fees—Next funding—Estimated net—

Enter thresholds to calculate convergence minus fees.

Funding impact will state whether this position pays or receives.