Funding you earn now, next payment 12:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%
Price spread now: Bullet against Katana Perps+0.031%7-day average +0.040% · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 4 days (all we have)−0.011%−$1 on $10k
+Price spread, last 7 days+0.004%$0 · spread now +0.031%, 7d avg +0.040%
=| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Katana Perps BTC-USD | 85,873 | 0.0100 | pay 0.0100% / 8h | 4h 51m | $228K | $8.1M | 50x |
| Short | Bullet BTC-USD | 85,900 | 0.0100 | get 0.0013% / 1h | 51m 40s | $215K | $3.2M | 20x |
Katana Perps BTC-USD
Bullet BTC-USDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Bullet against Katana Perps. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- $0.04
- Price spread: +0.031% → +0.040%
- −$0.89
- Slippage, 4 orders
- no order book: not counted
- Fee Katana Perps: 1.9 bp × 2 orders
- −$3.8
- Fee Bullet: 4 bp × 2 orders
- −$8
- Net
- −$12.65
- Costs to cover
- 0.118%
- Break-even
- 2014.8 days
Slippage unknown: Katana Perps: no order-book sample; Bullet: live order book, 1 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 Bullet live order book, 1 min ago | 0.29 bp | 4.6 bp −$5 | 7.3 bp −$73 | doesn't fit | doesn't fit |
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 exchanges
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 | −0.0150% | 1h | 85,957 | +0.098% | $2.1M | $7.7M | 40x | as long as short |
| Perpl BTC | −0.0112% | 43m | 85,904.2 | +0.036% | $457K | $13.4M | 6.7x | as long as short |
| Hotstuff BTC-PERP | −0.0080% | 1h | 85,914 | +0.048% | $8K | $2K | 50x | as long as short |
| BloFin BTC-USDT | −0.0043% | 8h | 85,900 | +0.031% | $422.6M | $549.6M | 150x | as long as short |
| 01 Exchange BTCUSD | −0.0032% | 1h | 85,895.1 | +0.026% | $368K | $1.8M | 50x | as long as short |
| SoDEX BTC-USD | −0.0012% | 1h | 85,900 | +0.031% | $65.9M | $187.1M | 40x | as long as short |
| dYdX BTC-USD | 0.0000% | 1h | 85,905.2 | +0.037% | $16.8M | $13.6M | 50x | as long as short |
| Injective BTC/USDC PERP | +0.0001% | 1h | 85,924 | +0.059% | $321K | $27.6M | 52x | as long as short |
| gTrade (Gains Network) BTC/USD | L +0.0004% / S −0.0004% | 1h | 85,912.9 | +0.046% | $36.9M | — | 200x | as long as short |
| Aster BTCUSDT | +0.0016% | 8h | 85,881 | +0.009% | $511.3M | $833.3M | 200x | as long as short |
Phoenix BTC
Perpl BTC
Hotstuff BTC-PERP
BloFin BTC-USDT
01 Exchange BTCUSD
SoDEX BTC-USD
dYdX BTC-USD
Injective BTC/USDC PERP
gTrade (Gains Network) BTC/USD
Aster BTCUSDTShow all 56 exchanges
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Kraken Futures PF_XBTUSD | +0.0019% | 1h | 85,917 | +0.051% | $192.3M | $738.4M | 100x | as long as short |
| Popdex BTCUSDT | +0.0032% | 1h | 85,894 | +0.024% | $8.6M | $45.6M | 100x | as long as short |
| BingX BTC-USDC | +0.0047% | 8h | 85,877.1 | +0.005% | — | $16.1M | — | as long as short |
| KuCoin XBTUSDTM | +0.0054% | 8h | 85,900.8 | +0.032% | $943.2M | $633.9M | 125x | as long as short |
| Bybit BTCUSDT | +0.0060% | 8h | 85,881 | +0.009% | $5.14B | $7.98B | 150x | as long as short |
| Phemex BTCUSDT | +0.0071% | 8h | 85,911.1 | +0.044% | $170.9M | $474.0M | 150x | as long as short |
| MEXC BTC_USDT | +0.0076% | 8h | 85,902.2 | +0.034% | $5.16B | $4.69B | 500x | as long as short |
| Binance BTCUSDT | +0.0076% | 8h | 85,877.9 | +0.006% | $9.41B | $20.04B | 150x | as long as short |
| Gate BTC_USDT | +0.0080% | 8h | 85,907.9 | +0.041% | $5.51B | $8.74B | 200x | as long as short |
| Aevo BTC-PERP | +0.0080% | 1h | 85,881.8 | +0.010% | $2.4M | $6.8M | 20x | as long as short |
| HTX BTC-USDT | +0.0082% | 8h | 85,899.9 | +0.031% | $2.27B | $772.4M | 200x | as long as short |
| Bitget BTCUSDT | +0.0088% | 8h | 85,876.3 | +0.004% | $3.00B | $3.84B | 150x | as long as short |
| Lighter BTC | +0.0096% | 1h | 85,894.6 | +0.025% | $172.9M | $827.4M | 50x | as long as short |
| Lighter RH BTC | +0.0096% | 1h | 85,894.7 | +0.025% | $23.7M | $116.6M | 50x | as long as short |
| Katana Perps BTC-USDlong | +0.0100% | 8h | 85,873 | long leg | $228K | $8.1M | 50x | |
| Paradex BTC-USD-PERP | +0.0100% | 8h | 85,918 | +0.052% | $5.9M | $7.3M | 50x | as long as short |
| Nado BTC-PERP | +0.0100% | 1h | 85,891.9 | +0.022% | $23.3M | $189.4M | 50x | as long as short |
| Pacifica BTC | +0.0100% | 1h | 85,920.1 | +0.055% | $40.3M | $568.5M | 50x | as long as short |
| OKX BTC-USDT-SWAP | +0.0100% | 8h | 85,888.2 | +0.018% | $2.63B | $9.12B | 100x | as long as short |
| Ondo Perps BTC-USD.P | +0.0100% | 1h | 85,903 | +0.035% | $4.0M | $14.7M | 25x | as long as short |
| Arcus BTC-USD | +0.0100% | 1h | 85,888.9 | +0.019% | $4.8M | $91.3M | 40x | as long as short |
| Backpack BTC_USDC_PERP | +0.0100% | 1h | 85,892.5 | +0.023% | $38.2M | $195.7M | 75x | as long as short |
| Variational Omni BTC | +0.0100% | 8h | 85,938.4 | +0.076% | $156.6M | $472.5M | — | as long as short |
| edgeX BTCUSDC | +0.0100% | 4h | 85,924.3 | +0.060% | $289.7M | $732.3M | 100x | as long as short |
| GRVT BTC_USDT_Perp | +0.0100% | 8h | 85,957.8 | +0.099% | $216.0M | $132.5M | 50x | as long as short |
| ApeX Omni BTCUSDT | +0.0100% | 1h | 85,968.8 | +0.112% | $137.9M | $288.3M | 100x | as long as short |
| StandX BTC-USD | +0.0100% | 1h | 85,926.4 | +0.062% | $30.2M | $227.3M | 40x | as long as short |
| Vest BTC-PERP | +0.0100% | 1h | 85,954.2 | +0.095% | — | $10.1M | 50x | as long as short |
| Polymarket Perps BTC-USD | +0.0100% | 1h | 85,899 | +0.030% | $11.1M | $11.9M | 50x | as long as short |
| Bullet BTC-USDshort | +0.0100% | 1h | 85,900 | +0.031% | $215K | $3.2M | 20x | |
| Orderly PERP_BTC_USDC | +0.0100% | 8h | 85,894.5 | +0.025% | $2.6M | $8.7M | 100x | as long as short |
| Bluefin BTC-PERP | +0.0100% | 1h | 85,927.4 | +0.063% | $143K | $607K | 40x | as long as short |
| Derive BTC-PERP | +0.0100% | 1h | 85,953.3 | +0.094% | $29.1M | $44.6M | 15x | as long as short |
| SunX BTC-USDT | +0.0100% | 8h | 85,908.8 | +0.042% | $3.3M | $6.7M | 100x | as long as short |
| Bulk BTC-USD | +0.0100% | 1h | 85,951.1 | +0.091% | $715.0M | $86.6M | 40x | as long as short |
| Extended BTC-USD | +0.0104% | 1h | 85,873.4 | 0.000% | $47.2M | $192.2M | 50x | as long as short |
| Jupiter Perps WBTC-PERP | L +0.0104% / S +0.0056% | 1h | 85,908.4 | +0.041% | — | $79.3M | 500x | as long as short |
| Coinbase International BTC-PERP-INTX | +0.0128% | 1h | 85,939.6 | +0.078% | $112.2M | $4.93B | 50x | as long as short |
| Deribit BTC-PERPETUAL | +0.0154% | 1h | 85,949.1 | +0.089% | $820.0M | $1.49B | 50x | as long as short |
| Kalshi KXBTCPERP | +0.0158% | 8h | 85,923 | +0.058% | $13.0M | $738.1M | 6.4x | as long as short |
| RISEx BTC/USDC | +0.0165% | 1h | 85,937.5 | +0.075% | $9.1M | $35.5M | 25x | as long as short |
| Reya BTCRUSDPERP | +0.0172% | 1h | 85,878.1 | +0.006% | $6.6M | $125.8M | 40x | as long as short |
| GMX BTC/USD [WBTC.b-USDC] | L +0.0211% / S −0.0252% | 1h | 85,913.1 | +0.047% | $15.5M | — | 200x | as long as short |
| Hyperliquid BTC | +0.0236% | 1h | 86,007 | +0.156% | $3.95B | $4.16B | 40x | as long as short |
| Hibachi BTC/USDT-P | +0.0304% | 1h | 85,982.9 | +0.128% | $696K | $6.7M | 30x | as long as short |
| Aftermath Perps BTCUSD | +0.0329% | 1h | 85,929.8 | +0.066% | $79K | $228K | 20x | as long as short |
Kraken Futures PF_XBTUSD
Popdex BTCUSDT
BingX BTC-USDC
KuCoin XBTUSDTM
Bybit BTCUSDT
Phemex BTCUSDT
MEXC BTC_USDT
Binance BTCUSDT
Gate BTC_USDT
Aevo BTC-PERP
HTX BTC-USDT
Bitget BTCUSDT
Lighter BTC
Lighter RH BTC
Paradex BTC-USD-PERP
Nado BTC-PERP
Pacifica BTC
OKX BTC-USDT-SWAP
Ondo Perps BTC-USD.P
Arcus BTC-USD
Backpack BTC_USDC_PERP
Variational Omni BTC
edgeX BTCUSDC
GRVT BTC_USDT_Perp
ApeX Omni BTCUSDT
StandX BTC-USD
Vest BTC-PERP
Polymarket Perps BTC-USD
Orderly PERP_BTC_USDC
Bluefin BTC-PERP
Derive BTC-PERP
SunX BTC-USDT
Bulk BTC-USD
Extended BTC-USD
Jupiter Perps WBTC-PERP
Coinbase International BTC-PERP-INTX
Deribit BTC-PERPETUAL
Kalshi KXBTCPERP
RISEx BTC/USDC
Reya BTCRUSDPERP
GMX BTC/USD [WBTC.b-USDC]
Hyperliquid BTC
Hibachi BTC/USDT-P
Aftermath Perps BTCUSD