BTC

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0004%/8h= −0.4% APRnext payment −$0.00 per $10,000 · paid last 24h +0.185%

Price spread now: Popdex against Bluefin−0.032%46s7-day average +0.026% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$190.185% of the position

Long on Bluefin Short on Popdex

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.424%+$42 on $10k

Price spread, last 3 days (all we have)+0.107%+$11 · spread now −0.032%, 7d avg +0.026%

Together, before fees+0.531%+$53 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Popdex is 0.058% cheaper against Bluefin than usual: you would sell low and buy high, −$6 on $10k if it goes back to its 7-day average of +0.026%. The two prices were read 46 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bluefin BTC-PERP	86,787.6	0.0100	pay 0.0013% / 1h	20m 38s	$141K	$619K	40x
Short	Popdex BTCUSDT	86,760	0.0096	get 0.0012% / 1h	20m 38s	$8.5M	$52.3M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Popdex against Bluefin. 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 BluefinbpFee PopdexbpOrdersPrice spread, now −0.032%Rate

Funding earned: −$0.84
Price spread: −0.032% → +0.026%: −$5.82
Slippage, 4 orders: −$5.1
Fee Bluefin: 3.5 bp × 2 orders: −$7
Fee Popdex: 3.2 bp × 2 orders: −$6.4
Net: −$25.16
Costs to cover: 0.185%
Break-even: never at this rate

Slippage from Bluefin: 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 Bluefin live order book, 4 min ago	1.09 bp	6.3 bp −$6	10.4 bp −$104	doesn't fit	doesn't fit
Sell Popdex live order book, 4 min ago	0.06 bp	3.4 bp −$3	3.5 bp −$35	3.8 bp −$382	5.2 bp −$2,575

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
Aftermath Perps BTCUSD	−0.0236%	1h	86,738.4	−0.057%	$85K	$188K	20x	as long as short
Perpl BTC	−0.0223%	43m	86,786.1	−0.002%	$429K	$24.8M	6.7x	as long as short
Phoenix BTC	−0.0103%	1h	86,781	−0.008%	$2.2M	$12.4M	40x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	86,764	−0.027%	$9K	$3K	50x	as long as short
dYdX BTC-USD	−0.0065%	1h	86,773.8	−0.016%	$17.6M	$20.6M	50x	as long as short
01 Exchange BTCUSD	0.0000%	1h	86,786.4	−0.001%	$364K	$2.4M	50x	as long as short
Deribit BTC-PERPETUAL	0.0000%	1h	86,795.5	+0.009%	$933.1M	$1.45B	50x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0005% / S −0.0004%	1h	86,784	−0.004%	$36.9M	—	200x	as long as short
KuCoin XBTUSDTM	+0.0005%	8h	86,758.1	−0.034%	$849.6M	$707.3M	125x	as long as short
Aster BTCUSDT	+0.0009%	8h	86,756.2	−0.036%	$506.6M	$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
Reya BTCRUSDPERP	+0.0021%	1h	86,737.6	−0.058%	$6.7M	$144.4M	40x	as long as short
Phemex BTCUSDT	+0.0023%	8h	86,768.9	−0.022%	$150.2M	$471.8M	150x	as long as short
BingX BTC-USDC	+0.0025%	8h	86,751.2	−0.042%	—	$15.2M	—	as long as short
Bitget BTCUSDT	+0.0035%	8h	86,756.1	−0.036%	$2.96B	$5.08B	150x	as long as short
Injective BTC/USDC PERP	+0.0049%	1h	86,639	−0.171%	$315K	$26.8M	52x	as long as short
Aevo BTC-PERP	+0.0056%	1h	86,762.1	−0.029%	$2.4M	$1.3M	20x	as long as short
MEXC BTC_USDT	+0.0059%	8h	86,759.5	−0.032%	$5.20B	$5.70B	500x	as long as short
Binance BTCUSDT	+0.0059%	8h	86,760	−0.032%	$9.44B	$24.35B	150x	as long as short
RISEx BTC/USDC	+0.0063%	1h	86,772.1	−0.018%	$9.2M	$41.8M	25x	as long as short
Gate BTC_USDT	+0.0081%	8h	86,766	−0.025%	$5.86B	$10.67B	200x	as long as short
OKX BTC-USDT-SWAP	+0.0083%	8h	86,771.6	−0.018%	$2.56B	$12.75B	100x	as long as short
Bybit BTCUSDT	+0.0085%	8h	86,759.6	−0.032%	$5.29B	$9.71B	150x	as long as short
Lighter BTC	+0.0096%	1h	86,776	−0.013%	$171.9M	$1.02B	50x	as long as short
Lighter RH BTC	+0.0096%	1h	86,781.2	−0.007%	$24.2M	$154.0M	50x	as long as short
Popdex BTCUSDTshort	+0.0096%	1h	86,760	−0.032%	$8.5M	$52.3M	100x
Variational Omni BTC	+0.0097%	8h	86,726.9	−0.070%	$159.3M	$566.6M	—	as long as short
Katana Perps BTC-USD	+0.0100%	8h	86,751	−0.042%	$201K	$6.8M	50x	as long as short
Paradex BTC-USD-PERP	+0.0100%	8h	86,809.6	+0.025%	$4.8M	$8.2M	50x	as long as short
Nado BTC-PERP	+0.0100%	1h	86,773.4	−0.016%	$21.8M	$235.6M	50x	as long as short
Hyperliquid BTC	+0.0100%	1h	86,842	+0.063%	$3.82B	$5.11B	40x	as long as short
Pacifica BTC	+0.0100%	1h	86,795.5	+0.009%	$41.0M	$492.6M	50x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	86,762	−0.029%	$3.9M	$18.6M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	86,828.5	+0.047%	$7.5M	$94.7M	40x	as long as short
Bulk BTC-USD	+0.0100%	1h	86,792.1	+0.005%	$573.3M	$22.0M	40x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	86,768.7	−0.022%	$38.1M	$148.5M	75x	as long as short
edgeX BTCUSDC	+0.0100%	4h	86,783.9	−0.004%	$280.3M	$951.8M	100x	as long as short
GRVT BTC_USDT_Perp	+0.0100%	8h	86,756.8	−0.036%	$217.9M	$187.3M	50x	as long as short
ApeX Omni BTCUSDT	+0.0100%	1h	86,768.2	−0.022%	$141.6M	$322.5M	100x	as long as short
StandX BTC-USD	+0.0100%	1h	86,768	−0.023%	$30.8M	$204.7M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	86,823.3	+0.041%	—	$11.6M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	86,766	−0.025%	$11.1M	$13.8M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	86,760.1	−0.032%	$197K	$3.4M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	86,774.5	−0.015%	$2.5M	$8.5M	100x	as long as short
Bluefin BTC-PERPlong	+0.0100%	1h	86,787.6	long leg	$141K	$619K	40x
Derive BTC-PERP	+0.0100%	1h	86,769.3	−0.021%	$30.0M	$61.8M	15x	as long as short
SunX BTC-USDT	+0.0100%	8h	86,762.2	−0.029%	$3.4M	$5.5M	100x	as long as short
SoDEX BTC-USD	+0.0100%	1h	86,760	−0.032%	$60.6M	$336.5M	40x	as long as short
HTX BTC-USDT	+0.0100%	8h	86,748.6	−0.045%	$2.30B	$959.1M	200x	as long as short
Extended BTC-USD	+0.0104%	1h	86,743.3	−0.051%	$46.3M	$227.3M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0048%	1h	86,779.6	−0.009%	—	$98.9M	500x	as long as short
Kraken Futures PF_XBTUSD	+0.0116%	1h	86,797	+0.011%	$188.0M	$933.8M	100x	as long as short
Coinbase International BTC-PERP-INTX	+0.0120%	1h	86,812.2	+0.028%	$132.2M	$5.86B	50x	as long as short
Kalshi KXBTCPERP	+0.0144%	8h	86,806	+0.021%	$9.6M	$726.9M	6.4x	as long as short
BloFin BTC-USDT	+0.0179%	8h	86,760.2	−0.032%	$415.6M	$655.3M	150x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0180% / S −0.0209%	1h	86,777.1	−0.012%	$15.0M	—	200x	as long as short
Hibachi BTC/USDT-P	+0.0216%	1h	86,784	−0.004%	$698K	$7.1M	30x	as long as short