BTC

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0105%/8h= +11.5% APRnext payment +$1.05 per $10,000 · paid last 24h −0.033%

Price spread now: BloFin against Katana Perps+0.034%7-day average +0.013% · you sell dearer than you buy

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

Long on Katana Perps Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.095%−$10 on $10k

Price spread, last 3 days (all we have)−0.050%−$5 · spread now +0.034%, 7d avg +0.013%

Together, before fees−0.146%−$15 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and BloFin is 0.021% dearer against Katana Perps than usual: you sell high and buy low: +$2 more if the spread goes back to its 7-day average of +0.013%. Mind the row above: over the last 4 days funding on this pair cost −0.095%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Katana Perps BTC-USD	86,105	0.0100	pay 0.0100% / 8h	7h 07m	$201K	$7.3M	50x
Short	BloFin BTC-USDT	86,134	0.0204	get 0.0204% / 8h	7h 07m	$415.3M	$640.2M	150x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin against Katana Perps. 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 Katana PerpsbpFee BloFinbpOrdersPrice spread, now +0.034%Rate

Funding earned: $21.97
Price spread: +0.034% → +0.013%: $2.1
Slippage, 4 orders: no order book: not counted
Fee Katana Perps: 1.9 bp × 2 orders: −$3.8
Fee BloFin: 6 bp × 2 orders: −$12
Net: $8.28
Costs to cover: 0.158%
Break-even: 4.4 days

Slippage unknown: Katana Perps: no order-book sample; BloFin: live order book, 6 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 Katana Perps no order-book sample	—	—	—	—	—
Sell BloFin live order book, 6 min ago	0.12 bp	6.2 bp −$6	6.2 bp −$62	6.4 bp −$643	7.8 bp −$3,903

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
Phoenix BTC	−0.0129%	1h	86,215	+0.128%	$2.2M	$11.2M	40x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	86,144	+0.045%	$9K	$3K	50x	as long as short
01 Exchange BTCUSD	−0.0040%	1h	86,126.7	+0.025%	$363K	$2.3M	50x	as long as short
Perpl BTC	0.0000%	43m	86,127.2	+0.026%	$582K	$21.2M	6.7x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0004% / S −0.0004%	1h	86,166.4	+0.071%	$36.8M	—	200x	as long as short
Injective BTC/USDC PERP	+0.0023%	1h	86,365	+0.302%	$343K	$26.9M	52x	as long as short
dYdX BTC-USD	+0.0025%	1h	86,156.2	+0.059%	$16.9M	$20.5M	50x	as long as short
Aster BTCUSDT	+0.0031%	8h	86,133.5	+0.033%	$499.4M	$1.13B	200x	as long as short
Bluefin BTC-PERP	+0.0043%	1h	86,176.2	+0.083%	$144K	$666K	40x	as long as short
KuCoin XBTUSDTM	+0.0044%	8h	86,147	+0.049%	$828.8M	$714.9M	125x	as long as short

Show all 56 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Reya BTCRUSDPERP	+0.0049%	1h	86,134.8	+0.035%	$6.7M	$145.8M	40x	as long as short
BingX BTC-USDC	+0.0052%	8h	86,109.6	+0.005%	—	$15.2M	—	as long as short
RISEx BTC/USDC	+0.0052%	1h	86,132.2	+0.032%	$8.3M	$42.4M	25x	as long as short
Bitget BTCUSDT	+0.0066%	8h	86,133.9	+0.034%	$2.97B	$5.04B	150x	as long as short
SoDEX BTC-USD	+0.0074%	1h	86,145	+0.046%	$60.4M	$338.3M	40x	as long as short
HTX BTC-USDT	+0.0077%	8h	86,124.9	+0.023%	$2.29B	$957.4M	200x	as long as short
Aevo BTC-PERP	+0.0080%	1h	86,141.2	+0.042%	$2.5M	$1.8M	20x	as long as short
Gate BTC_USDT	+0.0082%	8h	86,129.1	+0.028%	$5.77B	$10.65B	200x	as long as short
MEXC BTC_USDT	+0.0084%	8h	86,128.5	+0.027%	$5.10B	$5.76B	500x	as long as short
Binance BTCUSDT	+0.0084%	8h	86,122.1	+0.020%	$9.38B	$24.23B	150x	as long as short
Phemex BTCUSDT	+0.0085%	8h	86,144.9	+0.046%	$155.9M	$473.3M	150x	as long as short
Lighter BTC	+0.0096%	1h	86,159.3	+0.063%	$170.2M	$994.0M	50x	as long as short
Lighter RH BTC	+0.0096%	1h	86,165.5	+0.070%	$23.6M	$152.1M	50x	as long as short
Popdex BTCUSDT	+0.0096%	1h	86,131	+0.030%	$8.4M	$52.0M	100x	as long as short
Katana Perps BTC-USDlong	+0.0100%	8h	86,105	long leg	$201K	$7.3M	50x
Paradex BTC-USD-PERP	+0.0100%	8h	86,147.2	+0.049%	$4.2M	$8.5M	50x	as long as short
Nado BTC-PERP	+0.0100%	1h	86,134.9	+0.035%	$22.1M	$225.1M	50x	as long as short
Hyperliquid BTC	+0.0100%	1h	86,193	+0.102%	$3.77B	$4.96B	40x	as long as short
Pacifica BTC	+0.0100%	1h	86,155.5	+0.059%	$40.8M	$560.8M	50x	as long as short
Bybit BTCUSDT	+0.0100%	8h	86,130.6	+0.030%	$5.25B	$9.63B	150x	as long as short
OKX BTC-USDT-SWAP	+0.0100%	8h	86,136.5	+0.037%	$2.56B	$12.40B	100x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	86,115	+0.012%	$3.9M	$17.9M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	86,131.9	+0.031%	$7.2M	$95.0M	40x	as long as short
Bulk BTC-USD	+0.0100%	1h	86,145.7	+0.047%	$580.3M	$59.0M	40x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	86,116	+0.013%	$35.5M	$161.6M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	86,205.5	+0.117%	$156.7M	$558.7M	—	as long as short
edgeX BTCUSDC	+0.0100%	4h	86,200.1	+0.110%	$278.4M	$938.7M	100x	as long as short
GRVT BTC_USDT_Perp	+0.0100%	8h	86,266	+0.187%	$216.6M	$165.4M	50x	as long as short
ApeX Omni BTCUSDT	+0.0100%	1h	86,239.5	+0.156%	$141.2M	$320.0M	100x	as long as short
StandX BTC-USD	+0.0100%	1h	86,190	+0.099%	$30.6M	$207.5M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	86,189	+0.098%	—	$11.8M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	86,138	+0.038%	$11.1M	$14.1M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	86,143.1	+0.044%	$190K	$3.3M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	86,143.3	+0.044%	$2.4M	$9.1M	100x	as long as short
Derive BTC-PERP	+0.0100%	1h	86,164.6	+0.069%	$30.3M	$57.0M	15x	as long as short
SunX BTC-USDT	+0.0100%	8h	86,116.8	+0.014%	$3.3M	$5.4M	100x	as long as short
Extended BTC-USD	+0.0104%	1h	86,114.5	+0.011%	$46.0M	$222.4M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0048%	1h	86,162.3	+0.067%	—	$98.9M	500x	as long as short
Coinbase International BTC-PERP-INTX	+0.0120%	1h	86,185.3	+0.093%	$132.0M	$5.28B	50x	as long as short
Kraken Futures PF_XBTUSD	+0.0121%	1h	86,177.9	+0.085%	$191.2M	$951.4M	100x	as long as short
Hibachi BTC/USDT-P	+0.0136%	1h	86,193.1	+0.102%	$731K	$7.9M	30x	as long as short
Aftermath Perps BTCUSD	+0.0169%	1h	86,246.9	+0.165%	$77K	$217K	20x	as long as short
BloFin BTC-USDTshort	+0.0204%	8h	86,134	+0.034%	$415.3M	$640.2M	150x
Kalshi KXBTCPERP	+0.0206%	8h	86,156	+0.059%	$10.5M	$766.5M	6.4x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0207% / S −0.0222%	1h	86,164.9	+0.070%	$14.5M	—	200x	as long as short
Deribit BTC-PERPETUAL	+0.0219%	1h	86,202.4	+0.113%	$902.6M	$1.51B	50x	as long as short