Funding you earn now, next payment 22:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.020%
Price spread now: Hyperliquid against Katana Perps+0.058%51s7-day average +0.072% · 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)+0.027%+$3 on $10k
+Price spread, last 7 days−0.054%−$5 · spread now +0.058%, 7d avg +0.072%
=Together, before fees−0.028%+ Points / potential airdropHyperliquid: Season 2 · farm board−$3 on $10k · with fees, hour by hour
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Katana Perps BTC-USD | 86,541 | 0.0100 | pay 0.0100% / 8h | 2h 38m | $197K | $6.8M | 50x |
| Short | Hyperliquid BTC | 86,591 | 0.0100 | get 0.0013% / 1h | 38m 41s | $3.82B | $5.10B | 40x |
Katana Perps BTC-USD
Hyperliquid BTCFunding history
latest
Range statsloading…
Price spread between the two exchanges
Hyperliquid 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: +0.058% → +0.072%
- −$1.41
- Slippage, 4 orders
- no order book: not counted
- Fee Katana Perps: 1.9 bp × 2 orders
- −$3.8
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Net
- −$14.16
- Costs to cover
- 0.128%
- Break-even
- 2255.4 days
Slippage unknown: Katana Perps: no order-book sample; Hyperliquid: 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 Hyperliquid live order book, 6 min ago | 0.06 bp | 4.6 bp −$5 | 4.6 bp −$46 | 4.6 bp −$462 | 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 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 | |
|---|---|---|---|---|---|---|---|---|
| Perpl BTC | −0.0223% | 43m | 86,583.4 | +0.049% | $429K | $24.9M | 6.7x | as long as short |
| Aftermath Perps BTCUSD | −0.0219% | 1h | 86,610.4 | +0.080% | $85K | $188K | 20x | as long as short |
| Phoenix BTC | −0.0103% | 1h | 86,607 | +0.076% | $2.2M | $12.4M | 40x | as long as short |
| dYdX BTC-USD | −0.0100% | 1h | 86,558 | +0.020% | $17.6M | $20.5M | 50x | as long as short |
| Hotstuff BTC-PERP | −0.0080% | 1h | 86,612 | +0.082% | $9K | $3K | 50x | as long as short |
| KuCoin XBTUSDTM | −0.0001% | 8h | 86,523.3 | −0.020% | $844.5M | $707.5M | 125x | as long as short |
| 01 Exchange BTCUSD | 0.0000% | 1h | 86,574.3 | +0.038% | $361K | $2.4M | 50x | as long as short |
| Deribit BTC-PERPETUAL | 0.0000% | 1h | 86,566.2 | +0.029% | $936.5M | $1.43B | 50x | as long as short |
| gTrade (Gains Network) BTC/USD | L +0.0005% / S −0.0005% | 1h | 86,571.8 | +0.036% | $36.6M | — | 200x | as long as short |
| Aster BTCUSDT | +0.0009% | 8h | 86,517.5 | −0.027% | $505.2M | $1.16B | 200x | as long as short |
Perpl BTC
Aftermath Perps BTCUSD
Phoenix BTC
dYdX BTC-USD
Hotstuff BTC-PERP
KuCoin XBTUSDTM
01 Exchange BTCUSD
Deribit BTC-PERPETUAL
gTrade (Gains Network) BTC/USD
Aster BTCUSDTShow all 56 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Reya BTCRUSDPERP | +0.0021% | 1h | 86,537.1 | −0.004% | $6.7M | $144.2M | 40x | as long as short |
| BingX BTC-USDC | +0.0022% | 8h | 86,507.7 | −0.038% | — | $15.3M | — | as long as short |
| Phemex BTCUSDT | +0.0026% | 8h | 86,530.7 | −0.012% | $149.6M | $470.7M | 150x | as long as short |
| Bitget BTCUSDT | +0.0027% | 8h | 86,515.9 | −0.029% | $2.94B | $5.07B | 150x | as long as short |
| Aevo BTC-PERP | +0.0048% | 1h | 86,539.9 | −0.001% | $2.4M | $1.3M | 20x | as long as short |
| Injective BTC/USDC PERP | +0.0049% | 1h | 86,732 | +0.221% | $315K | $26.8M | 52x | as long as short |
| MEXC BTC_USDT | +0.0050% | 8h | 86,535.1 | −0.007% | $5.19B | $5.66B | 500x | as long as short |
| Binance BTCUSDT | +0.0050% | 8h | 86,534.1 | −0.008% | $9.43B | $24.31B | 150x | as long as short |
| RISEx BTC/USDC | +0.0063% | 1h | 86,559.6 | +0.021% | $9.2M | $41.9M | 25x | as long as short |
| OKX BTC-USDT-SWAP | +0.0067% | 8h | 86,546.1 | +0.006% | $2.56B | $12.68B | 100x | as long as short |
| Gate BTC_USDT | +0.0067% | 8h | 86,520 | −0.024% | $5.84B | $10.61B | 200x | as long as short |
| Bybit BTCUSDT | +0.0079% | 8h | 86,532.6 | −0.010% | $5.27B | $9.65B | 150x | as long as short |
| Variational Omni BTC | +0.0091% | 8h | 86,619.6 | +0.091% | $160.0M | $567.4M | — | as long as short |
| Lighter BTC | +0.0096% | 1h | 86,530.6 | −0.012% | $171.9M | $1.01B | 50x | as long as short |
| Lighter RH BTC | +0.0096% | 1h | 86,538.2 | −0.003% | $24.0M | $153.3M | 50x | as long as short |
| Popdex BTCUSDT | +0.0096% | 1h | 86,548 | +0.008% | $8.5M | $52.1M | 100x | as long as short |
| Paradex BTC-USD-PERP | +0.0100% | 8h | 86,595.7 | +0.063% | $4.8M | $8.2M | 50x | as long as short |
| Katana Perps BTC-USDlong | +0.0100% | 8h | 86,541 | long leg | $197K | $6.8M | 50x | |
| Nado BTC-PERP | +0.0100% | 1h | 86,571.1 | +0.035% | $21.8M | $235.8M | 50x | as long as short |
| Hyperliquid BTCshort | +0.0100% | 1h | 86,591 | +0.058% | $3.82B | $5.10B | 40x | |
| Pacifica BTC | +0.0100% | 1h | 86,564.3 | +0.027% | $41.2M | $490.3M | 50x | as long as short |
| Ondo Perps BTC-USD.P | +0.0100% | 1h | 86,569 | +0.032% | $3.9M | $18.6M | 25x | as long as short |
| Arcus BTC-USD | +0.0100% | 1h | 86,614.3 | +0.085% | $7.4M | $93.7M | 40x | as long as short |
| Bulk BTC-USD | +0.0100% | 1h | 86,606.9 | +0.076% | $571.9M | $22.8M | 40x | as long as short |
| Backpack BTC_USDC_PERP | +0.0100% | 1h | 86,527.3 | −0.016% | $38.0M | $148.2M | 75x | as long as short |
| edgeX BTCUSDC | +0.0100% | 4h | 86,603.7 | +0.072% | $279.8M | $949.2M | 100x | as long as short |
| GRVT BTC_USDT_Perp | +0.0100% | 8h | 86,620.3 | +0.092% | $217.5M | $188.3M | 50x | as long as short |
| ApeX Omni BTCUSDT | +0.0100% | 1h | 86,631.1 | +0.104% | $141.6M | $323.0M | 100x | as long as short |
| StandX BTC-USD | +0.0100% | 1h | 86,602 | +0.070% | $30.8M | $205.7M | 40x | as long as short |
| Vest BTC-PERP | +0.0100% | 1h | 86,630.5 | +0.103% | — | $11.6M | 50x | as long as short |
| Polymarket Perps BTC-USD | +0.0100% | 1h | 86,552 | +0.013% | $11.1M | $13.7M | 50x | as long as short |
| Bullet BTC-USD | +0.0100% | 1h | 86,550 | +0.010% | $193K | $3.4M | 20x | as long as short |
| Orderly PERP_BTC_USDC | +0.0100% | 8h | 86,555.5 | +0.017% | $2.5M | $8.5M | 100x | as long as short |
| Bluefin BTC-PERP | +0.0100% | 1h | 86,561.7 | +0.024% | $140K | $619K | 40x | as long as short |
| Derive BTC-PERP | +0.0100% | 1h | 86,552.3 | +0.013% | $30.0M | $61.7M | 15x | as long as short |
| SunX BTC-USDT | +0.0100% | 8h | 86,572.6 | +0.037% | $3.4M | $5.5M | 100x | as long as short |
| SoDEX BTC-USD | +0.0100% | 1h | 86,535 | −0.007% | $60.4M | $336.4M | 40x | as long as short |
| HTX BTC-USDT | +0.0100% | 8h | 86,530.7 | −0.012% | $2.30B | $956.7M | 200x | as long as short |
| Extended BTC-USD | +0.0104% | 1h | 86,506.2 | −0.040% | $46.4M | $228.0M | 50x | as long as short |
| Jupiter Perps WBTC-PERP | L +0.0104% / S +0.0048% | 1h | 86,568.3 | +0.032% | — | $98.2M | 500x | as long as short |
| Kraken Futures PF_XBTUSD | +0.0117% | 1h | 86,567.1 | +0.030% | $190.4M | $930.3M | 100x | as long as short |
| Kalshi KXBTCPERP | +0.0120% | 8h | 86,578 | +0.043% | $8.8M | $723.8M | 6.4x | as long as short |
| Coinbase International BTC-PERP-INTX | +0.0120% | 1h | 86,578.9 | +0.044% | $131.9M | $5.86B | 50x | as long as short |
| BloFin BTC-USDT | +0.0171% | 8h | 86,555 | +0.016% | $416.9M | $646.9M | 150x | as long as short |
| GMX BTC/USD [WBTC.b-USDC] | L +0.0178% / S −0.0185% | 1h | 86,566.8 | +0.030% | $14.9M | — | 200x | as long as short |
| Hibachi BTC/USDT-P | +0.0224% | 1h | 86,648.2 | +0.124% | $602K | $7.2M | 30x | as long as short |
Reya BTCRUSDPERP
BingX BTC-USDC
Phemex BTCUSDT
Bitget BTCUSDT
Aevo BTC-PERP
Injective BTC/USDC PERP
MEXC BTC_USDT
Binance BTCUSDT
RISEx BTC/USDC
OKX BTC-USDT-SWAP
Gate BTC_USDT
Bybit BTCUSDT
Variational Omni BTC
Lighter BTC
Lighter RH BTC
Popdex BTCUSDT
Paradex BTC-USD-PERP
Nado BTC-PERP
Pacifica BTC
Ondo Perps BTC-USD.P
Arcus BTC-USD
Bulk BTC-USD
Backpack BTC_USDC_PERP
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
Bluefin BTC-PERP
Derive BTC-PERP
SunX BTC-USDT
SoDEX BTC-USD
HTX BTC-USDT
Extended BTC-USD
Jupiter Perps WBTC-PERP
Kraken Futures PF_XBTUSD
Kalshi KXBTCPERP
Coinbase International BTC-PERP-INTX
BloFin BTC-USDT
GMX BTC/USD [WBTC.b-USDC]
Hibachi BTC/USDT-P