BTC

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0036%/8h= −3.9% APRnext payment −$0.04 per $10,000 · paid last 24h −0.006%

Price spread now: Kraken Futures against Jupiter Perps+0.044%7-day average +0.008% · you sell dearer than you buy

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

Long on Jupiter Perps Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.040%−$4 on $10k

Price spread, last 4 days (all we have)−0.040%−$4 · spread now +0.044%, 7d avg +0.008%

Together, before fees−0.080%−$8 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Kraken Futures is 0.036% dearer against Jupiter Perps than usual: you sell high and buy low (spread +0.044% now, against its 7-day average of +0.008%): +$4 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 3.4 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Jupiter Perps WBTC-PERP	85,371.7	L +0.0104% / S +0.0056%	pay 0.0013% / 1h	57m 40s	—	$106.7M	500x
Short	Kraken Futures PF_XBTUSD	85,409.3	0.0068	get 0.0009% / 1h	57m 40s	$186.4M	$953.8M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against Jupiter Perps. 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 Jupiter PerpsbpFee Kraken FuturesbpOrdersPrice spread, now +0.044%Rate

Funding earned: −$7.51
Price spread: +0.044% → +0.008%: $3.62
Slippage, 4 orders: no order book: not counted
Fee Jupiter Perps: 6 bp × 2 orders: −$12
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$25.89
Costs to cover: 0.220%
Break-even: never at this rate

Slippage unknown: Jupiter Perps: no order-book sample; Kraken Futures: live order book, 2 min ago. 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 Jupiter Perps no order-book sample	—	—	—	—	—
Sell Kraken Futures live order book, 2 min ago	0.06 bp	5.1 bp −$5	6.2 bp −$62	7.4 bp −$737	9.0 bp −$4,501

Jupiter 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
Phemex BTCUSDT	−0.0437%	8h	85,395.9	+0.028%	$159.4M	$516.9M	150x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	85,396	+0.029%	$8K	$2K	50x	as long as short
Phoenix BTC	−0.0034%	1h	85,341	−0.036%	$2.3M	$10.4M	40x	as long as short
Gate BTC_USDT	−0.0025%	8h	85,429.8	+0.068%	$5.46B	$9.80B	200x	as long as short
BloFin BTC-USDT	−0.0020%	8h	85,343.9	−0.033%	$421.7M	$685.6M	150x	as long as short
Injective BTC/USDC PERP	−0.0006%	1h	85,364	−0.009%	$311K	$22.9M	52x	as long as short
01 Exchange BTCUSD	0.0000%	1h	85,433.1	+0.072%	$344K	$2.3M	50x	as long as short
KuCoin XBTUSDTM	+0.0001%	8h	85,418.7	+0.055%	$929.8M	$776.8M	125x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0004% / S −0.0004%	1h	85,416.1	+0.052%	$36.5M	—	200x	as long as short
Deribit BTC-PERPETUAL	+0.0022%	1h	85,427.9	+0.066%	$829.3M	$1.67B	50x	as long as short

Show all 56 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster BTCUSDT	+0.0022%	8h	85,417.1	+0.053%	$503.0M	$1.09B	200x	as long as short
dYdX BTC-USD	+0.0027%	1h	85,413.1	+0.048%	$16.7M	$21.0M	50x	as long as short
Kraken Futures PF_XBTUSDshort	+0.0068%	1h	85,409.3	+0.044%	$186.4M	$953.8M	100x
BingX BTC-USDC	+0.0069%	8h	85,408.4	+0.043%	—	$17.5M	—	as long as short
Nado BTC-PERP	+0.0089%	1h	85,379.9	+0.010%	$24.1M	$220.1M	50x	as long as short
Lighter BTC	+0.0096%	1h	85,440.8	+0.081%	$169.7M	$935.8M	50x	as long as short
Lighter RH BTC	+0.0096%	1h	85,440	+0.080%	$23.6M	$133.3M	50x	as long as short
Popdex BTCUSDT	+0.0096%	1h	85,411	+0.046%	$8.7M	$57.8M	100x	as long as short
Aevo BTC-PERP	+0.0096%	1h	85,408.1	+0.043%	$2.4M	$6.7M	20x	as long as short
ApeX Omni BTCUSDT	+0.0097%	1h	85,273.7	−0.115%	$138.0M	$312.8M	100x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	85,400	+0.033%	$264K	$8.7M	50x	as long as short
Paradex BTC-USD-PERP	+0.0100%	8h	85,466.7	+0.111%	$5.7M	$9.6M	50x	as long as short
Pacifica BTC	+0.0100%	1h	85,441	+0.081%	$40.2M	$604.6M	50x	as long as short
Binance BTCUSDT	+0.0100%	8h	85,424.9	+0.062%	$9.41B	$25.20B	150x	as long as short
Bybit BTCUSDT	+0.0100%	8h	85,430	+0.068%	$5.09B	$10.04B	150x	as long as short
OKX BTC-USDT-SWAP	+0.0100%	8h	85,433	+0.072%	$2.61B	$12.25B	100x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	85,403	+0.037%	$3.8M	$17.4M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	85,443.3	+0.084%	$4.6M	$97.7M	40x	as long as short
Bulk BTC-USD	+0.0100%	1h	85,382	+0.012%	$697.9M	$180.4M	40x	as long as short
MEXC BTC_USDT	+0.0100%	8h	85,421.2	+0.058%	$5.03B	$5.71B	500x	as long as short
Bitget BTCUSDT	+0.0100%	8h	85,425.8	+0.063%	$2.98B	$5.18B	150x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	85,388.2	+0.019%	$37.5M	$192.4M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	85,265.8	−0.124%	$155.3M	$548.8M	—	as long as short
edgeX BTCUSDC	+0.0100%	4h	85,267.5	−0.122%	$282.8M	$959.2M	100x	as long as short
GRVT BTC_USDT_Perp	+0.0100%	8h	85,283.5	−0.103%	$214.0M	$159.0M	50x	as long as short
StandX BTC-USD	+0.0100%	1h	85,270.7	−0.118%	$30.1M	$216.2M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	85,465.9	+0.110%	—	$9.6M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	85,343	−0.034%	$10.9M	$15.0M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	85,401.6	+0.035%	$200K	$3.3M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	85,418.4	+0.055%	$2.6M	$9.8M	100x	as long as short
Bluefin BTC-PERP	+0.0100%	1h	85,458.4	+0.102%	$194K	$796K	40x	as long as short
SunX BTC-USDT	+0.0100%	8h	85,381.9	+0.012%	$2.9M	$6.1M	100x	as long as short
SoDEX BTC-USD	+0.0100%	1h	85,402	+0.036%	$59.8M	$336.6M	40x	as long as short
HTX BTC-USDT	+0.0100%	8h	85,398.3	+0.031%	$2.26B	$976.3M	200x	as long as short
Extended BTC-USD	+0.0104%	1h	85,403.1	+0.037%	$45.7M	$241.9M	50x	as long as short
Jupiter Perps WBTC-PERPlong	L +0.0104% / S +0.0056%	1h	85,371.7	long leg	—	$106.7M	500x
Coinbase International BTC-PERP-INTX	+0.0112%	1h	85,446	+0.087%	$111.9M	$5.47B	50x	as long as short
Derive BTC-PERP	+0.0133%	1h	85,433.6	+0.073%	$28.8M	$46.9M	15x	as long as short
Reya BTCRUSDPERP	+0.0145%	1h	85,392.9	+0.025%	$6.6M	$140.9M	40x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0174% / S −0.0149%	1h	85,408.1	+0.043%	$13.0M	—	200x	as long as short
Kalshi KXBTCPERP	+0.0175%	8h	85,430	+0.068%	$12.1M	$739.9M	6.4x	as long as short
RISEx BTC/USDC	+0.0194%	1h	85,414	+0.050%	$8.9M	$42.9M	25x	as long as short
Hyperliquid BTC	+0.0264%	1h	85,487	+0.135%	$3.79B	$5.11B	40x	as long as short
Aftermath Perps BTCUSD	+0.0285%	1h	85,319.7	−0.061%	$81K	$249K	20x	as long as short
Hibachi BTC/USDT-P	+0.0320%	1h	85,377.1	+0.006%	$683K	$7.8M	30x	as long as short
Perpl BTC	+0.0447%	43m	85,412.6	+0.048%	$472K	$18.4M	6.7x	as long as short