BTC

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0069%/8h= +7.5% APRnext payment +$0.69 per $10,000 · paid last 24h +0.021%

Price spread now: Katana Perps against BingX−0.039%7-day average +0.007% · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on BingX Short on Katana Perps

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.061%+$6 on $10k

Price spread, last 7 days+0.061%+$6 · spread now −0.039%, 7d avg +0.007%

Together, before fees+0.122%+$12 on $10k · with fees, hour by hour

Funding pays, the price is against you. Katana Perps is 0.046% cheaper against BingX than usual: you would sell low and buy high (spread −0.039% now, against its 7-day average of +0.007%). If the spread goes back, that is −$5 on $10k: about 2.2 days of funding at the current rate (+$2 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX BTC-USDC	86,685.4	0.0031	pay 0.0031% / 8h	1h 42m	—	$15.3M	—
Short	Katana Perps BTC-USD	86,652	0.0100	get 0.0100% / 8h	1h 42m	$207K	$6.9M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Katana Perps against BingX. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 BingXbpFee Katana PerpsbpOrdersPrice spread, now −0.039%Rate

Funding earned: $14.45
Price spread: −0.039% → +0.007%: −$4.57
Slippage, 4 orders: no order book: not counted
Fee BingX: 5 bp × 2 orders: −$10
Fee Katana Perps: 1.9 bp × 2 orders: −$3.8
Net: −$3.93
Costs to cover: 0.138%
Break-even: 8.9 days

Slippage unknown: BingX: live order book, 11 min ago; Katana Perps: no order-book sample. Net counts fees only.

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 BingX live order book, 11 min ago	0.02 bp	5.0 bp −$5	5.1 bp −$51	6.5 bp −$654	8.4 bp −$4,192
Sell Katana Perps no order-book sample	—	—	—	—	—

Katana Perps: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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
Bluefin BTC-PERP	−0.1111%	1h	86,712.3	+0.031%	$141K	$618K	40x	as long as short
Aftermath Perps BTCUSD	−0.0172%	1h	86,612.5	−0.084%	$79K	$199K	20x	as long as short
Phoenix BTC	−0.0159%	1h	86,603	−0.095%	$2.2M	$11.8M	40x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	86,620	−0.075%	$9K	$3K	50x	as long as short
dYdX BTC-USD	−0.0013%	1h	86,682.4	−0.004%	$17.5M	$20.3M	50x	as long as short
01 Exchange BTCUSD	−0.0008%	1h	86,682.4	−0.003%	$359K	$2.4M	50x	as long as short
Aster BTCUSDT	−0.0007%	8h	86,679.7	−0.007%	$506.0M	$1.15B	200x	as long as short
Perpl BTC	0.0000%	43m	86,647.7	−0.043%	$418K	$24.0M	6.7x	as long as short
Deribit BTC-PERPETUAL	0.0000%	1h	86,721.9	+0.042%	$926.0M	$1.47B	50x	as long as short
KuCoin XBTUSDTM	+0.0002%	8h	86,679.4	−0.007%	$853.1M	$707.7M	125x	as long as short

Show all 56 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
gTrade (Gains Network) BTC/USD	L +0.0005% / S −0.0004%	1h	86,717.5	+0.037%	$36.9M	—	200x	as long as short
RISEx BTC/USDC	+0.0006%	1h	86,677.2	−0.009%	$8.6M	$43.2M	25x	as long as short
Phemex BTCUSDT	+0.0022%	8h	86,697.8	+0.014%	$150.0M	$473.4M	150x	as long as short
Reya BTCRUSDPERP	+0.0022%	1h	86,670.5	−0.017%	$6.7M	$144.8M	40x	as long as short
Injective BTC/USDC PERP	+0.0024%	1h	86,559	−0.146%	$315K	$26.8M	52x	as long as short
Hibachi BTC/USDT-P	+0.0024%	1h	86,651.1	−0.040%	$732K	$8.1M	30x	as long as short
BingX BTC-USDClong	+0.0031%	8h	86,685.4	long leg	—	$15.3M	—
Bitget BTCUSDT	+0.0041%	8h	86,697.5	+0.014%	$2.96B	$5.07B	150x	as long as short
Aevo BTC-PERP	+0.0056%	1h	86,683.4	−0.002%	$2.4M	$1.3M	20x	as long as short
MEXC BTC_USDT	+0.0060%	8h	86,697.2	+0.014%	$5.19B	$5.63B	500x	as long as short
Binance BTCUSDT	+0.0060%	8h	86,696.9	+0.013%	$9.44B	$24.31B	150x	as long as short
Gate BTC_USDT	+0.0082%	8h	86,691.8	+0.007%	$5.86B	$10.64B	200x	as long as short
Bybit BTCUSDT	+0.0090%	8h	86,698.3	+0.015%	$5.28B	$9.70B	150x	as long as short
Lighter BTC	+0.0096%	1h	86,708	+0.026%	$172.5M	$1.00B	50x	as long as short
Lighter RH BTC	+0.0096%	1h	86,719.2	+0.039%	$24.1M	$151.8M	50x	as long as short
Popdex BTCUSDT	+0.0096%	1h	86,679	−0.007%	$8.5M	$52.1M	100x	as long as short
Katana Perps BTC-USDshort	+0.0100%	8h	86,652	−0.039%	$207K	$6.9M	50x
Paradex BTC-USD-PERP	+0.0100%	8h	86,708.7	+0.027%	$4.8M	$8.3M	50x	as long as short
Nado BTC-PERP	+0.0100%	1h	86,666.6	−0.022%	$21.9M	$233.5M	50x	as long as short
Hyperliquid BTC	+0.0100%	1h	86,770	+0.098%	$3.82B	$5.10B	40x	as long as short
Pacifica BTC	+0.0100%	1h	86,691.7	+0.007%	$40.9M	$504.7M	50x	as long as short
OKX BTC-USDT-SWAP	+0.0100%	8h	86,700.1	+0.017%	$2.55B	$12.71B	100x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	86,690	+0.005%	$3.9M	$18.6M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	86,737.2	+0.060%	$7.4M	$93.8M	40x	as long as short
Bulk BTC-USD	+0.0100%	1h	86,527.4	−0.182%	$571.7M	$19.3M	40x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	86,693.6	+0.009%	$38.4M	$153.1M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	86,560.2	−0.144%	$156.7M	$569.2M	—	as long as short
edgeX BTCUSDC	+0.0100%	4h	86,583.1	−0.118%	$279.6M	$943.8M	100x	as long as short
GRVT BTC_USDT_Perp	+0.0100%	8h	86,610.1	−0.087%	$217.3M	$177.3M	50x	as long as short
ApeX Omni BTCUSDT	+0.0100%	1h	86,623.7	−0.071%	$141.6M	$323.1M	100x	as long as short
StandX BTC-USD	+0.0100%	1h	86,593.7	−0.106%	$30.7M	$203.0M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	86,713.3	+0.032%	—	$11.6M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	86,678	−0.009%	$11.1M	$13.6M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	86,682	−0.004%	$195K	$3.4M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	86,696.3	+0.013%	$2.5M	$8.6M	100x	as long as short
Derive BTC-PERP	+0.0100%	1h	86,688.8	+0.004%	$30.1M	$61.6M	15x	as long as short
SunX BTC-USDT	+0.0100%	8h	86,689	+0.004%	$3.4M	$5.4M	100x	as long as short
SoDEX BTC-USD	+0.0100%	1h	86,688	+0.003%	$60.6M	$336.9M	40x	as long as short
HTX BTC-USDT	+0.0100%	8h	86,690	+0.005%	$2.30B	$958.5M	200x	as long as short
Extended BTC-USD	+0.0104%	1h	86,672.4	−0.015%	$46.3M	$225.0M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0048%	1h	86,683.1	−0.003%	—	$98.5M	500x	as long as short
Coinbase International BTC-PERP-INTX	+0.0112%	1h	86,730.1	+0.052%	$131.9M	$5.73B	50x	as long as short
Kraken Futures PF_XBTUSD	+0.0121%	1h	86,725.8	+0.047%	$191.9M	$936.9M	100x	as long as short
BloFin BTC-USDT	+0.0180%	8h	86,618.8	−0.077%	$415.5M	$653.0M	150x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0180% / S −0.0208%	1h	86,709.6	+0.028%	$15.1M	—	200x	as long as short
Kalshi KXBTCPERP	+0.0191%	8h	86,699	+0.016%	$9.6M	$726.7M	6.4x	as long as short