BTC

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0074%/8h= +8.1% APRnext payment +$0.74 per $10,000 · paid last 24h +0.017%

Price spread now: Katana Perps against Bitget−0.003%7-day average −0.032% · you buy dearer than you sell

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

Long on Bitget Short on Katana Perps

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.038%+$4 on $10k

Price spread, last 7 days+0.006%+$1 · spread now −0.003%, 7d avg −0.032%

Together, before fees+0.044%+$4 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and Katana Perps is 0.029% dearer against Bitget than usual: you sell high and buy low: +$3 more if the spread goes back to its 7-day average of −0.032%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget BTCUSDT	86,581.7	0.0026	pay 0.0026% / 8h	2h 49m	$2.94B	$5.08B	150x
Short	Katana Perps BTC-USD	86,579	0.0100	get 0.0100% / 8h	2h 49m	$200K	$6.8M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

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

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

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 BitgetbpFee Katana PerpsbpOrdersPrice spread, now −0.003%Rate

Funding earned: $15.5
Price spread: −0.003% → −0.032%: $2.86
Slippage, 4 orders: no order book: not counted
Fee Bitget: 6 bp × 2 orders: −$12
Fee Katana Perps: 1.9 bp × 2 orders: −$3.8
Net: $2.56
Costs to cover: 0.158%
Break-even: 5.8 days

Slippage unknown: Bitget: live order book, 4 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 Bitget live order book, 4 min ago	0.01 bp	6.0 bp −$6	6.0 bp −$60	6.0 bp −$601	doesn't fit
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
Perpl BTC	−0.0335%	43m	86,641.3	+0.069%	$428K	$25.4M	6.7x	as long as short
Aftermath Perps BTCUSD	−0.0197%	1h	86,736	+0.178%	$85K	$188K	20x	as long as short
Phoenix BTC	−0.0103%	1h	86,701	+0.138%	$2.2M	$12.4M	40x	as long as short
dYdX BTC-USD	−0.0090%	1h	86,651.2	+0.080%	$18.0M	$20.0M	50x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	86,622	+0.047%	$9K	$3K	50x	as long as short
KuCoin XBTUSDTM	−0.0002%	8h	86,572.7	−0.010%	$844.5M	$709.2M	125x	as long as short
01 Exchange BTCUSD	0.0000%	1h	86,662.3	+0.093%	$361K	$2.5M	50x	as long as short
Deribit BTC-PERPETUAL	0.0000%	1h	86,636.2	+0.063%	$921.5M	$1.39B	50x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0005% / S −0.0005%	1h	86,638.2	+0.065%	$36.6M	—	200x	as long as short
Aster BTCUSDT	+0.0013%	8h	86,579.3	−0.003%	$505.5M	$1.16B	200x	as long as short

Show all 56 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX BTC-USDT	+0.0020%	8h	86,581.4	0.000%	—	$1.60B	—	as long as short
Reya BTCRUSDPERP	+0.0021%	1h	86,624.2	+0.049%	$6.7M	$143.9M	40x	as long as short
Phemex BTCUSDT	+0.0025%	8h	86,596.8	+0.017%	$149.5M	$469.7M	150x	as long as short
Bitget BTCUSDTlong	+0.0026%	8h	86,581.7	long leg	$2.94B	$5.08B	150x
MEXC BTC_USDT	+0.0047%	8h	86,585.1	+0.004%	$5.19B	$5.63B	500x	as long as short
Binance BTCUSDT	+0.0048%	8h	86,588.7	+0.008%	$9.44B	$24.35B	150x	as long as short
Aevo BTC-PERP	+0.0048%	1h	86,613.8	+0.037%	$2.4M	$1.3M	20x	as long as short
Injective BTC/USDC PERP	+0.0049%	1h	86,732	+0.174%	$315K	$26.8M	52x	as long as short
OKX BTC-USDT-SWAP	+0.0060%	8h	86,585.8	+0.005%	$2.57B	$12.72B	100x	as long as short
RISEx BTC/USDC	+0.0063%	1h	86,600.2	+0.021%	$9.2M	$42.2M	25x	as long as short
Gate BTC_USDT	+0.0064%	8h	86,583.8	+0.002%	$5.85B	$10.57B	200x	as long as short
Bybit BTCUSDT	+0.0077%	8h	86,582.7	+0.001%	$5.27B	$9.70B	150x	as long as short
Variational Omni BTC	+0.0088%	8h	86,626.8	+0.052%	$159.8M	$564.2M	—	as long as short
GRVT BTC_USDT_Perp	+0.0095%	8h	86,798	+0.250%	$217.8M	$191.2M	50x	as long as short
Lighter BTC	+0.0096%	1h	86,597.1	+0.018%	$171.9M	$1.01B	50x	as long as short
Lighter RH BTC	+0.0096%	1h	86,623.2	+0.048%	$24.0M	$152.7M	50x	as long as short
Popdex BTCUSDT	+0.0096%	1h	86,641	+0.068%	$8.5M	$52.1M	100x	as long as short
Orderly PERP_BTC_USDC	+0.0098%	8h	86,620.2	+0.044%	$2.5M	$8.4M	100x	as long as short
Paradex BTC-USD-PERP	+0.0100%	8h	86,628	+0.054%	$4.8M	$8.2M	50x	as long as short
Katana Perps BTC-USDshort	+0.0100%	8h	86,579	−0.003%	$200K	$6.8M	50x
Nado BTC-PERP	+0.0100%	1h	86,641	+0.068%	$21.8M	$237.7M	50x	as long as short
Hyperliquid BTC	+0.0100%	1h	86,674	+0.107%	$3.83B	$5.10B	40x	as long as short
Pacifica BTC	+0.0100%	1h	86,620.7	+0.045%	$40.9M	$485.8M	50x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	86,630	+0.056%	$3.9M	$18.8M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	86,667.5	+0.099%	$7.4M	$95.6M	40x	as long as short
Bulk BTC-USD	+0.0100%	1h	86,665	+0.096%	$572.2M	$23.5M	40x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	86,599.1	+0.020%	$38.2M	$148.1M	75x	as long as short
edgeX BTCUSDC	+0.0100%	4h	86,704.2	+0.142%	$280.1M	$946.6M	100x	as long as short
ApeX Omni BTCUSDT	+0.0100%	1h	86,714.1	+0.153%	$141.9M	$322.6M	100x	as long as short
StandX BTC-USD	+0.0100%	1h	86,664	+0.095%	$30.8M	$205.9M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	86,695.3	+0.131%	—	$11.6M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	86,649	+0.078%	$11.0M	$13.7M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	86,613.5	+0.037%	$198K	$3.4M	20x	as long as short
Bluefin BTC-PERP	+0.0100%	1h	86,633	+0.059%	$141K	$619K	40x	as long as short
Derive BTC-PERP	+0.0100%	1h	86,612.1	+0.035%	$30.0M	$61.5M	15x	as long as short
SunX BTC-USDT	+0.0100%	8h	86,641.8	+0.069%	$3.4M	$5.6M	100x	as long as short
SoDEX BTC-USD	+0.0100%	1h	86,600	+0.021%	$60.4M	$336.5M	40x	as long as short
HTX BTC-USDT	+0.0100%	8h	86,606.8	+0.029%	$2.30B	$957.0M	200x	as long as short
Kalshi KXBTCPERP	+0.0101%	8h	86,666	+0.097%	$8.9M	$724.7M	6.4x	as long as short
Extended BTC-USD	+0.0104%	1h	86,569	−0.015%	$46.6M	$229.3M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0048%	1h	86,663.1	+0.094%	—	$97.9M	500x	as long as short
Kraken Futures PF_XBTUSD	+0.0117%	1h	86,643.7	+0.072%	$192.0M	$926.4M	100x	as long as short
Coinbase International BTC-PERP-INTX	+0.0120%	1h	86,652.9	+0.082%	$132.0M	$5.92B	50x	as long as short
BloFin BTC-USDT	+0.0168%	8h	86,613.6	+0.037%	$418.1M	$642.2M	150x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0181% / S −0.0199%	1h	86,631.1	+0.057%	$15.4M	—	200x	as long as short
Hibachi BTC/USDT-P	+0.0208%	1h	86,672.4	+0.105%	$598K	$7.2M	30x	as long as short