Funding you earn now, next payment 08:00 UTC−0.0004%/8h= −0.4% APRnext payment −$0.00 per $10,000 · paid last 24h +0.009%
Price spread now: Popdex against Arcus+0.008%7-day average −0.028% · 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−$8as in the Price arb table
costs, in and out, $10k−$120.120% of the position
Funding, last 4 days (all we have)+0.005%$0 on $10k
+Price spread, last 7 days−0.070%−$7 · spread now +0.008%, 7d avg −0.028%
=Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Popdex is 0.036% dearer against Arcus than usual: you sell high and buy low, +$4 on $10k if it goes back to its 7-day average of −0.028%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Arcus BTC-USD | 85,276.5 | 0.0100 | pay 0.0013% / 1h | 0m 41s | $4.6M | $97.7M | 40x |
| Short | Popdex BTCUSDT | 85,283 | 0.0096 | get 0.0012% / 1h | 0m 41s | $8.4M | $57.9M | 100x |
Arcus BTC-USD
Popdex BTCUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Popdex against Arcus. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$0.84
- Price spread: +0.008% → −0.028%
- $3.56
- Slippage, 4 orders
- −$1.07
- Fee Arcus: 2.25 bp × 2 orders
- −$4.5
- Fee Popdex: 3.2 bp × 2 orders
- −$6.4
- Net
- −$9.25
- Costs to cover
- 0.120%
- Break-even
- never at this rate
Slippage from Arcus: live order book, 4 min ago; Popdex: live order book, 4 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 Arcus live order book, 4 min ago | 0.01 bp | 2.3 bp −$2 | 2.5 bp −$25 | 3.1 bp −$310 | doesn't fit |
| Sell Popdex live order book, 4 min ago | 0.12 bp | 3.4 bp −$3 | 3.4 bp −$34 | 3.6 bp −$362 | 5.0 bp −$2,492 |
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 | 85,266 | −0.012% | $8K | $3K | 50x | as long as short |
| Phoenix BTC | −0.0034% | 1h | 85,306 | +0.035% | $2.3M | $10.8M | 40x | as long as short |
| BloFin BTC-USDT | −0.0020% | 8h | 85,279.8 | +0.004% | $421.4M | $684.9M | 150x | as long as short |
| KuCoin XBTUSDTM | −0.0003% | 8h | 85,282 | +0.006% | $928.8M | $776.6M | 125x | as long as short |
| 01 Exchange BTCUSD | 0.0000% | 1h | 85,290.2 | +0.016% | $345K | $2.3M | 50x | as long as short |
| gTrade (Gains Network) BTC/USD | L +0.0004% / S −0.0004% | 1h | 85,294.1 | +0.021% | $36.5M | — | 200x | as long as short |
| Aster BTCUSDT | +0.0018% | 8h | 85,291.6 | +0.018% | $502.3M | $1.09B | 200x | as long as short |
| dYdX BTC-USD | +0.0021% | 1h | 85,277.8 | +0.001% | $16.7M | $21.0M | 50x | as long as short |
| Kraken Futures PF_XBTUSD | +0.0026% | 1h | 85,290.7 | +0.017% | $186.3M | $953.9M | 100x | as long as short |
| Injective BTC/USDC PERP | +0.0067% | 1h | 85,267 | −0.011% | $311K | $26.1M | 52x | as long as short |
Hotstuff BTC-PERP
Phoenix BTC
BloFin BTC-USDT
KuCoin XBTUSDTM
01 Exchange BTCUSD
gTrade (Gains Network) BTC/USD
Aster BTCUSDT
dYdX BTC-USD
Kraken Futures PF_XBTUSD
Injective BTC/USDC PERPShow all 56 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| BingX BTC-USDC | +0.0067% | 8h | 85,263.8 | −0.015% | — | $17.5M | — | as long as short |
| Bybit BTCUSDT | +0.0090% | 8h | 85,294.6 | +0.021% | $5.09B | $10.03B | 150x | as long as short |
| Deribit BTC-PERPETUAL | +0.0091% | 1h | 85,313.9 | +0.044% | $829.7M | $1.67B | 50x | as long as short |
| Nado BTC-PERP | +0.0096% | 1h | 85,250.1 | −0.031% | $24.0M | $219.8M | 50x | as long as short |
| Lighter BTC | +0.0096% | 1h | 85,307.7 | +0.037% | $169.5M | $1.03B | 50x | as long as short |
| Lighter RH BTC | +0.0096% | 1h | 85,305.5 | +0.034% | $23.6M | $149.3M | 50x | as long as short |
| Popdex BTCUSDTshort | +0.0096% | 1h | 85,283 | +0.008% | $8.4M | $57.9M | 100x | |
| Aevo BTC-PERP | +0.0096% | 1h | 85,278 | +0.002% | $2.4M | $6.7M | 20x | as long as short |
| ApeX Omni BTCUSDT | +0.0097% | 1h | 85,273.7 | −0.003% | $138.0M | $312.8M | 100x | as long as short |
| Katana Perps BTC-USD | +0.0100% | 8h | 85,241 | −0.042% | $264K | $8.7M | 50x | as long as short |
| Paradex BTC-USD-PERP | +0.0100% | 8h | 85,335 | +0.069% | $5.7M | $9.5M | 50x | as long as short |
| Pacifica BTC | +0.0100% | 1h | 85,311.9 | +0.042% | $40.0M | $605.4M | 50x | as long as short |
| Binance BTCUSDT | +0.0100% | 8h | 85,289.6 | +0.015% | $9.40B | $25.18B | 150x | as long as short |
| OKX BTC-USDT-SWAP | +0.0100% | 8h | 85,299.1 | +0.027% | $2.61B | $12.26B | 100x | as long as short |
| Ondo Perps BTC-USD.P | +0.0100% | 1h | 85,251 | −0.030% | $3.8M | $17.3M | 25x | as long as short |
| Arcus BTC-USDlong | +0.0100% | 1h | 85,276.5 | long leg | $4.6M | $97.7M | 40x | |
| Bulk BTC-USD | +0.0100% | 1h | 85,256 | −0.024% | $695.2M | $190.7M | 40x | as long as short |
| Gate BTC_USDT | +0.0100% | 8h | 85,274.3 | −0.003% | $5.46B | $11.19B | 200x | as long as short |
| MEXC BTC_USDT | +0.0100% | 8h | 85,291.9 | +0.018% | $5.03B | $5.78B | 500x | as long as short |
| Bitget BTCUSDT | +0.0100% | 8h | 85,280 | +0.004% | $2.97B | $5.20B | 150x | as long as short |
| Backpack BTC_USDC_PERP | +0.0100% | 1h | 85,285.8 | +0.011% | $36.7M | $191.2M | 75x | as long as short |
| Variational Omni BTC | +0.0100% | 8h | 85,265.8 | −0.013% | $155.3M | $548.8M | — | as long as short |
| edgeX BTCUSDC | +0.0100% | 4h | 85,267.5 | −0.010% | $282.8M | $959.2M | 100x | as long as short |
| GRVT BTC_USDT_Perp | +0.0100% | 8h | 85,278.8 | +0.003% | $214.0M | $159.3M | 50x | as long as short |
| StandX BTC-USD | +0.0100% | 1h | 85,287 | +0.012% | $30.1M | $215.9M | 40x | as long as short |
| Vest BTC-PERP | +0.0100% | 1h | 85,352.9 | +0.090% | — | $9.9M | 50x | as long as short |
| Polymarket Perps BTC-USD | +0.0100% | 1h | 85,282 | +0.006% | $10.9M | $15.0M | 50x | as long as short |
| Bullet BTC-USD | +0.0100% | 1h | 85,285.5 | +0.011% | $199K | $3.3M | 20x | as long as short |
| Orderly PERP_BTC_USDC | +0.0100% | 8h | 85,279.8 | +0.004% | $2.6M | $9.8M | 100x | as long as short |
| Bluefin BTC-PERP | +0.0100% | 1h | 85,334.1 | +0.068% | $193K | $796K | 40x | as long as short |
| Derive BTC-PERP | +0.0100% | 1h | 85,317.2 | +0.048% | $28.8M | $46.9M | 15x | as long as short |
| SunX BTC-USDT | +0.0100% | 8h | 85,249 | −0.032% | $2.9M | $6.1M | 100x | as long as short |
| SoDEX BTC-USD | +0.0100% | 1h | 85,276 | −0.001% | $59.7M | $336.6M | 40x | as long as short |
| HTX BTC-USDT | +0.0100% | 8h | 85,267.5 | −0.011% | $2.25B | $974.1M | 200x | as long as short |
| Phemex BTCUSDT | +0.0100% | 8h | 85,293 | +0.019% | $158.8M | $516.3M | 150x | as long as short |
| Extended BTC-USD | +0.0104% | 1h | 85,257.3 | −0.023% | $45.7M | $241.3M | 50x | as long as short |
| Jupiter Perps WBTC-PERP | L +0.0104% / S +0.0056% | 1h | 85,266.9 | −0.011% | — | $106.7M | 500x | as long as short |
| Coinbase International BTC-PERP-INTX | +0.0104% | 1h | 85,334.7 | +0.068% | $111.6M | $5.47B | 50x | as long as short |
| Hyperliquid BTC | +0.0131% | 1h | 85,367 | +0.106% | $3.79B | $5.11B | 40x | as long as short |
| Reya BTCRUSDPERP | +0.0145% | 1h | 85,278.1 | +0.002% | $6.6M | $141.1M | 40x | as long as short |
| Kalshi KXBTCPERP | +0.0173% | 8h | 85,290 | +0.016% | $11.9M | $737.5M | 6.4x | as long as short |
| GMX BTC/USD [WBTC.b-USDC] | L +0.0174% / S −0.0149% | 1h | 85,281.5 | +0.006% | $13.0M | — | 200x | as long as short |
| RISEx BTC/USDC | +0.0174% | 1h | 85,285.7 | +0.011% | $8.9M | $42.9M | 25x | as long as short |
| Aftermath Perps BTCUSD | +0.0287% | 1h | 85,296.9 | +0.024% | $81K | $249K | 20x | as long as short |
| Hibachi BTC/USDT-P | +0.0304% | 1h | 85,308.7 | +0.038% | $682K | $7.8M | 30x | as long as short |
| Perpl BTC | +0.0447% | 43m | 85,291.7 | +0.018% | $465K | $18.4M | 6.7x | as long as short |
BingX BTC-USDC
Bybit BTCUSDT
Deribit BTC-PERPETUAL
Nado BTC-PERP
Lighter BTC
Lighter RH BTC
Aevo BTC-PERP
ApeX Omni BTCUSDT
Katana Perps BTC-USD
Paradex BTC-USD-PERP
Pacifica BTC
Binance BTCUSDT
OKX BTC-USDT-SWAP
Ondo Perps BTC-USD.P
Bulk BTC-USD
Gate BTC_USDT
MEXC BTC_USDT
Bitget BTCUSDT
Backpack BTC_USDC_PERP
Variational Omni BTC
edgeX BTCUSDC
GRVT BTC_USDT_Perp
StandX BTC-USD
Vest BTC-PERP
Polymarket Perps BTC-USD
Bullet BTC-USD
Orderly PERP_BTC_USDC
Bluefin BTC-PERP
Derive BTC-PERP
SunX BTC-USDT
SoDEX BTC-USD
HTX BTC-USDT
Phemex BTCUSDT
Extended BTC-USD
Jupiter Perps WBTC-PERP
Coinbase International BTC-PERP-INTX
Hyperliquid BTC
Reya BTCRUSDPERP
Kalshi KXBTCPERP
GMX BTC/USD [WBTC.b-USDC]
RISEx BTC/USDC
Aftermath Perps BTCUSD
Hibachi BTC/USDT-P
Perpl BTC