Settings8H · net · $10k
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Funding arb · Price arb /

BTC

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Alert: funding
Measured
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Checked every minute; it has to hold two checks in a row. Delivery to Telegram comes later, so for now alerts appear on the alerts page.

Alert: spread
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Checked every minute; it has to hold two checks in a row. Delivery to Telegram comes later, so for now alerts appear on the alerts page.

Funding you earn now, next payment 00:00 UTC−0.0010%/8h= −1.1% APRnext payment −$0.10 per $10,000 · paid last 24h −0.002%
Price spread now: Bybit against Katana Perps−0.006%7-day average +0.033% · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Long on Katana PerpsShort on Bybit
What this pair did over the last
the charts below follow
Funding, last 4 days (all we have)−0.016%−$2 on $10k
Price spread, last 7 days−0.002%$0 · spread now −0.006%, 7d avg +0.033%
Together, before fees−0.018%−$2 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs $0 a day on $10k at the current rate, and Bybit is 0.040% cheaper against Katana Perps than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of +0.033%). Swap the legs.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongKatana Perps BTC-USD86,6170.0100pay 0.0100% / 8h1h 38m$204K$6.9M50x
ShortBybit BTCUSDT86,611.50.0090get 0.0090% / 8h1h 38m$5.27B$9.69B150x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Bybit 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 it
latest
How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Funding earned
−$2.13
Price spread: −0.006% → +0.033%
−$3.96
Slippage, 4 orders
no order book: not counted
Fee Katana Perps: 1.9 bp × 2 orders
−$3.8
Fee Bybit: 5.5 bp × 2 orders
−$11
Net
−$20.89
Costs to cover
0.148%
Break-even
never at this rate
Slippage unknown: Katana Perps: no order-book sample; Bybit: 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
LegHalf-spread$10k$100k$1M$5M
Buy Katana Perps no order-book sample—————
Sell Bybit live order book, 1 min ago0.01 bp5.5 bp −$65.5 bp −$556.1 bp −$6087.5 bp −$3,757
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.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Bluefin BTC-PERP−0.0809%1h86,685.1+0.079%$141K$618K40xas long as short
Aftermath Perps BTCUSD−0.0161%1h86,650.9+0.039%$83K$206K20xas long as short
Phoenix BTC−0.0159%1h86,688+0.082%$2.2M$11.8M40xas long as short
Hotstuff BTC-PERP−0.0080%1h86,615−0.002%$9K$3K50xas long as short
dYdX BTC-USD−0.0011%1h86,628.7+0.014%$17.5M$20.3M50xas long as short
01 Exchange BTCUSD−0.0008%1h86,659.3+0.049%$359K$2.4M50xas long as short
Aster BTCUSDT−0.0007%8h86,625.6+0.010%$505.5M$1.15B200xas long as short
Perpl BTC0.0000%43m86,655+0.044%$419K$23.9M6.7xas long as short
KuCoin XBTUSDTM+0.0001%8h86,630.7+0.016%$852.0M$707.5M125xas long as short
gTrade (Gains Network) BTC/USDL +0.0005% / S −0.0004%1h86,682.4+0.076%$36.9M—200xas long as short
Show all 56 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
RISEx BTC/USDC+0.0006%1h86,639.3+0.026%$8.6M$43.2M25xas long as short
Reya BTCRUSDPERP+0.0022%1h86,651.6+0.040%$6.7M$144.8M40xas long as short
Injective BTC/USDC PERP+0.0024%1h86,559−0.067%$315K$26.8M52xas long as short
Phemex BTCUSDT+0.0026%8h86,646.7+0.034%$150.3M$473.6M150xas long as short
Deribit BTC-PERPETUAL+0.0030%1h86,675.4+0.067%$925.3M$1.47B50xas long as short
BingX BTC-USDC+0.0032%8h86,606−0.013%—$15.3M—as long as short
Hibachi BTC/USDT-P+0.0032%1h86,713.3+0.111%$733K$8.2M30xas long as short
Bitget BTCUSDT+0.0042%8h86,607−0.012%$2.96B$5.07B150xas long as short
MEXC BTC_USDT+0.0061%8h86,631.2+0.016%$5.19B$5.64B500xas long as short
Binance BTCUSDT+0.0061%8h86,617.8+0.001%$9.43B$24.31B150xas long as short
Aevo BTC-PERP+0.0064%1h86,631.1+0.016%$2.4M$1.3M20xas long as short
Gate BTC_USDT+0.0077%8h86,611.1−0.007%$5.86B$10.65B200xas long as short
Bybit BTCUSDTshort+0.0090%8h86,611.5−0.006%$5.27B$9.69B150x
Lighter BTC+0.0096%1h86,642+0.029%$172.3M$1.00B50xas long as short
Lighter RH BTC+0.0096%1h86,642+0.029%$24.1M$151.8M50xas long as short
Popdex BTCUSDT+0.0096%1h86,654+0.043%$8.5M$52.2M100xas long as short
Katana Perps BTC-USDlong+0.0100%8h86,617long leg$204K$6.9M50x
Paradex BTC-USD-PERP+0.0100%8h86,659.7+0.049%$4.8M$8.4M50xas long as short
Nado BTC-PERP+0.0100%1h86,637+0.023%$21.8M$233.4M50xas long as short
Hyperliquid BTC+0.0100%1h86,692+0.087%$3.82B$5.08B40xas long as short
Pacifica BTC+0.0100%1h86,650+0.038%$41.1M$505.2M50xas long as short
OKX BTC-USDT-SWAP+0.0100%8h86,607.5−0.011%$2.55B$12.69B100xas long as short
Ondo Perps BTC-USD.P+0.0100%1h86,623+0.007%$3.9M$18.6M25xas long as short
Arcus BTC-USD+0.0100%1h86,701.3+0.097%$7.4M$93.8M40xas long as short
Bulk BTC-USD+0.0100%1h86,703.1+0.099%$573.0M$18.8M40xas long as short
Backpack BTC_USDC_PERP+0.0100%1h86,626+0.010%$38.5M$153.2M75xas long as short
Variational Omni BTC+0.0100%8h86,696.3+0.092%$156.8M$565.9M—as long as short
edgeX BTCUSDC+0.0100%4h86,683.8+0.077%$280.1M$943.6M100xas long as short
GRVT BTC_USDT_Perp+0.0100%8h86,681.9+0.075%$217.5M$175.1M50xas long as short
ApeX Omni BTCUSDT+0.0100%1h86,693.4+0.088%$141.7M$323.1M100xas long as short
StandX BTC-USD+0.0100%1h86,679.7+0.072%$30.8M$203.3M40xas long as short
Vest BTC-PERP+0.0100%1h86,700.9+0.097%—$11.6M50xas long as short
Polymarket Perps BTC-USD+0.0100%1h86,661+0.051%$11.1M$13.6M50xas long as short
Bullet BTC-USD+0.0100%1h86,666.6+0.057%$193K$3.3M20xas long as short
Orderly PERP_BTC_USDC+0.0100%8h86,664.9+0.055%$2.4M$8.6M100xas long as short
Derive BTC-PERP+0.0100%1h86,636.5+0.022%$30.0M$61.6M15xas long as short
SunX BTC-USDT+0.0100%8h86,628.3+0.013%$3.4M$5.4M100xas long as short
SoDEX BTC-USD+0.0100%1h86,636+0.022%$60.5M$337.0M40xas long as short
HTX BTC-USDT+0.0100%8h86,654.4+0.043%$2.30B$964.1M200xas long as short
Extended BTC-USD+0.0104%1h86,618.7+0.002%$46.3M$225.2M50xas long as short
Jupiter Perps WBTC-PERPL +0.0104% / S +0.0048%1h86,662.4+0.052%—$98.2M500xas long as short
Coinbase International BTC-PERP-INTX+0.0112%1h86,680.7+0.074%$131.8M$5.72B50xas long as short
Kraken Futures PF_XBTUSD+0.0121%1h86,671.8+0.063%$191.8M$937.0M100xas long as short
GMX BTC/USD [WBTC.b-USDC]L +0.0180% / S −0.0208%1h86,678.6+0.071%$15.1M—200xas long as short
BloFin BTC-USDT+0.0181%8h86,634.4+0.020%$415.3M$652.1M150xas long as short
Kalshi KXBTCPERP+0.0194%8h86,663+0.053%$9.7M$727.7M6.4xas long as short