Funding you earn now, next payment 08:00 UTC+0.0012%/8h= +1.3% APRpaid last 24h +0.009%
Price spread now: Coinbase International against Katana Perps+0.063%7-day average +0.059% · 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)+0.007%+$1 on $10k
+Price spread, last 4 days (all we have)−0.160%−$16 · spread now +0.063%, 7d avg +0.059%
=The price spread sits at its 7-day average of +0.059%, so right now this pair is about funding alone: $0 a day on $10k at the current rate.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Katana Perps BTC-USD | 86,174 | 0.0100 | pay 0.0100% / 8h | 7h 10m | $219K | $8.2M | 50x |
| Short | Coinbase International BTC-PERP-INTX | 86,228.4 | 0.0112 | get 0.0014% / 1h | 10m 10s | $112.0M | $5.31B | 50x |
Katana Perps BTC-USD
Coinbase International BTC-PERP-INTXFunding history
latest
Range statsloading…
Price spread between the two exchanges
Coinbase International 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
- $2.56
- Price spread: +0.063% → +0.059%
- $0.44
- Slippage, 4 orders
- no order book: not counted
- Fee Katana Perps: 1.9 bp × 2 orders
- −$3.8
- Fee Coinbase International: 5 bp × 2 orders
- −$10
- Net
- −$10.8
- Costs to cover
- 0.138%
- Break-even
- 36.5 days
Slippage unknown: Katana Perps: no order-book sample; Coinbase International: live order book, 4 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 Coinbase International live order book, 4 min ago | 0.01 bp | 5.0 bp −$5 | 5.0 bp −$50 | 6.0 bp −$601 | 13.7 bp −$6,847 |
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 55 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 | |
|---|---|---|---|---|---|---|---|---|
| Bluefin BTC-PERP | −0.0374% | 1h | 86,214.7 | +0.047% | $196K | $673K | 40x | as long as short |
| Hotstuff BTC-PERP | −0.0080% | 1h | 86,242 | +0.079% | $8K | $2K | 50x | as long as short |
| BloFin BTC-USDT | −0.0020% | 8h | 86,222 | +0.056% | $421.8M | $624.2M | 150x | as long as short |
| 01 Exchange BTCUSD | −0.0008% | 1h | 86,202.3 | +0.033% | $356K | $2.1M | 50x | as long as short |
| Injective BTC/USDC PERP | −0.0006% | 1h | 86,180 | +0.007% | $298K | $27.5M | 52x | as long as short |
| gTrade (Gains Network) BTC/USD | L +0.0004% / S −0.0004% | 1h | 86,238 | +0.074% | $36.9M | — | 200x | as long as short |
| KuCoin XBTUSDTM | +0.0030% | 8h | 86,174.6 | +0.001% | $940.2M | $674.4M | 125x | as long as short |
| dYdX BTC-USD | +0.0039% | 1h | 86,186.1 | +0.014% | $16.9M | $18.6M | 50x | as long as short |
| Aster BTCUSDT | +0.0046% | 8h | 86,179 | +0.006% | $503.8M | $985.4M | 200x | as long as short |
| BingX BTC-USDC | +0.0066% | 8h | 86,142 | −0.037% | — | $16.6M | — | as long as short |
Bluefin BTC-PERP
Hotstuff BTC-PERP
BloFin BTC-USDT
01 Exchange BTCUSD
Injective BTC/USDC PERP
gTrade (Gains Network) BTC/USD
KuCoin XBTUSDTM
dYdX BTC-USD
Aster BTCUSDT
BingX BTC-USDCShow all 55 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Kraken Futures PF_XBTUSD | +0.0068% | 1h | 86,192.4 | +0.021% | $189.0M | $870.2M | 100x | as long as short |
| Deribit BTC-PERPETUAL | +0.0070% | 1h | 86,208.3 | +0.040% | $830.9M | $1.60B | 50x | as long as short |
| Bybit BTCUSDT | +0.0074% | 8h | 86,167.4 | −0.008% | $5.10B | $9.04B | 150x | as long as short |
| Phoenix BTC | +0.0075% | 1h | 86,095 | −0.092% | $2.3M | $10.4M | 40x | as long as short |
| Nado BTC-PERP | +0.0095% | 1h | 86,199.1 | +0.029% | $22.1M | $209.6M | 50x | as long as short |
| Lighter BTC | +0.0096% | 1h | 86,185.5 | +0.013% | $173.1M | $966.2M | 50x | as long as short |
| Lighter RH BTC | +0.0096% | 1h | 86,195.1 | +0.024% | $23.3M | $137.3M | 50x | as long as short |
| Popdex BTCUSDT | +0.0096% | 1h | 86,200 | +0.030% | $8.5M | $52.2M | 100x | as long as short |
| Aevo BTC-PERP | +0.0096% | 1h | 86,162.3 | −0.014% | $2.4M | $6.7M | 20x | as long as short |
| Katana Perps BTC-USDlong | +0.0100% | 8h | 86,174 | long leg | $219K | $8.2M | 50x | |
| Paradex BTC-USD-PERP | +0.0100% | 8h | 86,231.4 | +0.067% | $6.0M | $8.9M | 50x | as long as short |
| Pacifica BTC | +0.0100% | 1h | 86,203.7 | +0.034% | $40.5M | $591.1M | 50x | as long as short |
| Binance BTCUSDT | +0.0100% | 8h | 86,172.9 | −0.001% | $9.46B | $23.06B | 150x | as long as short |
| OKX BTC-USDT-SWAP | +0.0100% | 8h | 86,160 | −0.016% | $2.61B | $10.80B | 100x | as long as short |
| Ondo Perps BTC-USD.P | +0.0100% | 1h | 86,186 | +0.014% | $3.9M | $16.4M | 25x | as long as short |
| Arcus BTC-USD | +0.0100% | 1h | 86,208.9 | +0.040% | $4.7M | $93.5M | 40x | as long as short |
| Gate BTC_USDT | +0.0100% | 8h | 86,192 | +0.021% | $5.49B | $10.21B | 200x | as long as short |
| MEXC BTC_USDT | +0.0100% | 8h | 86,168 | −0.007% | $5.07B | $5.88B | 500x | as long as short |
| Bitget BTCUSDT | +0.0100% | 8h | 86,156.4 | −0.020% | $2.98B | $4.56B | 150x | as long as short |
| Backpack BTC_USDC_PERP | +0.0100% | 1h | 86,151.8 | −0.026% | $37.3M | $187.4M | 75x | as long as short |
| Variational Omni BTC | +0.0100% | 8h | 86,230.7 | +0.066% | $157.6M | $511.9M | — | as long as short |
| edgeX BTCUSDC | +0.0100% | 4h | 86,007 | −0.194% | $289.3M | $980.0M | 100x | as long as short |
| GRVT BTC_USDT_Perp | +0.0100% | 8h | 85,992.6 | −0.211% | $216.0M | $149.4M | 50x | as long as short |
| ApeX Omni BTCUSDT | +0.0100% | 1h | 86,007.8 | −0.193% | $137.0M | $302.1M | 100x | as long as short |
| StandX BTC-USD | +0.0100% | 1h | 86,190.2 | +0.019% | $30.4M | $213.4M | 40x | as long as short |
| Vest BTC-PERP | +0.0100% | 1h | 86,257.9 | +0.097% | — | $10.1M | 50x | as long as short |
| Polymarket Perps BTC-USD | +0.0100% | 1h | 86,206 | +0.037% | $11.0M | $13.6M | 50x | as long as short |
| Bullet BTC-USD | +0.0100% | 1h | 86,185 | +0.013% | $210K | $3.3M | 20x | as long as short |
| Orderly PERP_BTC_USDC | +0.0100% | 8h | 86,169.8 | −0.005% | $2.6M | $9.4M | 100x | as long as short |
| SunX BTC-USDT | +0.0100% | 8h | 86,185.5 | +0.013% | $3.2M | $7.0M | 100x | as long as short |
| SoDEX BTC-USD | +0.0100% | 1h | 86,174 | 0.000% | $60.3M | $257.7M | 40x | as long as short |
| HTX BTC-USDT | +0.0100% | 8h | 86,163 | −0.013% | $2.28B | $909.6M | 200x | as long as short |
| Phemex BTCUSDT | +0.0100% | 8h | 86,171.2 | −0.003% | $167.8M | $499.5M | 150x | as long as short |
| Bulk BTC-USD | +0.0100% | 1h | 85,869.6 | −0.353% | $707.4M | $169.5M | 40x | as long as short |
| Extended BTC-USD | +0.0104% | 1h | 86,140.4 | −0.039% | $46.3M | $220.4M | 50x | as long as short |
| Jupiter Perps WBTC-PERP | L +0.0104% / S +0.0048% | 1h | 86,196.8 | +0.026% | — | $94.3M | 500x | as long as short |
| Coinbase International BTC-PERP-INTXshort | +0.0112% | 1h | 86,228.4 | +0.063% | $112.0M | $5.31B | 50x | |
| Hyperliquid BTC | +0.0150% | 1h | 86,281 | +0.124% | $3.87B | $4.83B | 40x | as long as short |
| Reya BTCRUSDPERP | +0.0152% | 1h | 86,220.5 | +0.054% | $6.7M | $133.6M | 40x | as long as short |
| Kalshi KXBTCPERP | +0.0189% | 8h | 86,221 | +0.055% | $11.1M | $726.3M | 6.4x | as long as short |
| RISEx BTC/USDC | +0.0194% | 1h | 86,211.9 | +0.044% | $9.0M | $40.7M | 25x | as long as short |
| GMX BTC/USD [WBTC.b-USDC] | L +0.0200% / S −0.0183% | 1h | 86,196.6 | +0.026% | $13.3M | — | 200x | as long as short |
| Hibachi BTC/USDT-P | +0.0312% | 1h | 86,163.1 | −0.013% | $693K | $7.4M | 30x | as long as short |
| Aftermath Perps BTCUSD | +0.0374% | 1h | 86,089.5 | −0.098% | $82K | $253K | 20x | as long as short |
| Perpl BTC | +0.0447% | 43m | 86,194.6 | +0.024% | $490K | $16.8M | 6.7x | as long as short |
Kraken Futures PF_XBTUSD
Deribit BTC-PERPETUAL
Bybit BTCUSDT
Phoenix BTC
Nado BTC-PERP
Lighter BTC
Lighter RH BTC
Popdex BTCUSDT
Aevo BTC-PERP
Paradex BTC-USD-PERP
Pacifica BTC
Binance BTCUSDT
OKX BTC-USDT-SWAP
Ondo Perps BTC-USD.P
Arcus BTC-USD
Gate BTC_USDT
MEXC BTC_USDT
Bitget BTCUSDT
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
Bullet BTC-USD
Orderly PERP_BTC_USDC
SunX BTC-USDT
SoDEX BTC-USD
HTX BTC-USDT
Phemex BTCUSDT
Bulk BTC-USD
Extended BTC-USD
Jupiter Perps WBTC-PERP
Hyperliquid BTC
Reya BTCRUSDPERP
Kalshi KXBTCPERP
RISEx BTC/USDC
GMX BTC/USD [WBTC.b-USDC]
Hibachi BTC/USDT-P
Aftermath Perps BTCUSD
Perpl BTC