Funding you earn now, next payment 10:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h −0.003%
Price spread now: Popdex against Katana Perps+0.024%7-day average +0.038% · 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)−0.013%−$1 on $10k
+Price spread, last 7 days+0.008%+$1 · spread now +0.024%, 7d avg +0.038%
=| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Katana Perps BTC-USD | 85,932 | 0.0100 | pay 0.0100% / 8h | 6h 19m | $209K | $8.0M | 50x |
| Short | Popdex BTCUSDT | 85,953 | 0.0096 | get 0.0012% / 1h | 19m 49s | $8.8M | $47.4M | 100x |
Katana Perps BTC-USD
Popdex BTCUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Popdex 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
- −$0.8
- Price spread: +0.024% → +0.038%
- −$1.36
- Slippage, 4 orders
- no order book: not counted
- Fee Katana Perps: 1.9 bp × 2 orders
- −$3.8
- Fee Popdex: 3.2 bp × 2 orders
- −$6.4
- Net
- −$12.35
- Costs to cover
- 0.102%
- Break-even
- never at this rate
Slippage unknown: Katana Perps: no order-book sample; Popdex: live order book, 2 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 Popdex live order book, 2 min ago | 0.06 bp | 3.4 bp −$3 | 3.4 bp −$34 | 3.8 bp −$377 | 5.2 bp −$2,586 |
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 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 | |
|---|---|---|---|---|---|---|---|---|
| ApeX Omni BTCUSDT | −0.0099% | 1h | 85,916 | −0.019% | $137.3M | $297.5M | 100x | as long as short |
| Hotstuff BTC-PERP | −0.0080% | 1h | 85,937 | +0.006% | $8K | $2K | 50x | as long as short |
| 01 Exchange BTCUSD | −0.0072% | 1h | 85,951 | +0.022% | $357K | $2.0M | 50x | as long as short |
| Injective BTC/USDC PERP | −0.0065% | 1h | 85,986 | +0.063% | $300K | $28.5M | 52x | as long as short |
| BloFin BTC-USDT | −0.0020% | 8h | 85,924.8 | −0.008% | $422.4M | $579.8M | 150x | as long as short |
| dYdX BTC-USD | 0.0000% | 1h | 85,949.1 | +0.020% | $16.8M | $15.0M | 50x | as long as short |
| Perpl BTC | 0.0000% | 43m | 85,934.7 | +0.003% | $481K | $14.5M | 6.7x | as long as short |
| gTrade (Gains Network) BTC/USD | L +0.0004% / S −0.0004% | 1h | 85,946.4 | +0.017% | $36.7M | — | 200x | as long as short |
| SoDEX BTC-USD | +0.0012% | 1h | 85,953 | +0.024% | $65.5M | $188.0M | 40x | as long as short |
| BingX BTC-USDT | +0.0019% | 8h | 85,945.5 | +0.016% | — | $1.40B | — | as long as short |
ApeX Omni BTCUSDT
Hotstuff BTC-PERP
01 Exchange BTCUSD
Injective BTC/USDC PERP
BloFin BTC-USDT
dYdX BTC-USD
Perpl BTC
gTrade (Gains Network) BTC/USD
SoDEX BTC-USD
BingX BTC-USDTShow all 55 exchanges
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Bybit BTCUSDT | +0.0025% | 8h | 85,946.3 | +0.017% | $5.09B | $8.44B | 150x | as long as short |
| Aster BTCUSDT | +0.0036% | 8h | 85,941.8 | +0.011% | $512.1M | $910.9M | 200x | as long as short |
| KuCoin XBTUSDTM | +0.0040% | 8h | 85,961.7 | +0.035% | $928.2M | $656.8M | 125x | as long as short |
| Phoenix BTC | +0.0053% | 1h | 85,868 | −0.074% | $2.0M | $8.5M | 40x | as long as short |
| Gate BTC_USDT | +0.0068% | 8h | 85,947.7 | +0.018% | $5.50B | $9.27B | 200x | as long as short |
| Nado BTC-PERP | +0.0074% | 1h | 85,942.6 | +0.012% | $22.1M | $202.2M | 50x | as long as short |
| Lighter BTC | +0.0096% | 1h | 85,962.8 | +0.036% | $172.8M | $887.4M | 50x | as long as short |
| Lighter RH BTC | +0.0096% | 1h | 85,964.2 | +0.037% | $23.1M | $124.7M | 50x | as long as short |
| Popdex BTCUSDTshort | +0.0096% | 1h | 85,953 | +0.024% | $8.8M | $47.4M | 100x | |
| Aevo BTC-PERP | +0.0096% | 1h | 85,948.6 | +0.019% | $2.4M | $6.7M | 20x | as long as short |
| Bitget BTCUSDT | +0.0099% | 8h | 85,943.7 | +0.014% | $2.97B | $4.13B | 150x | as long as short |
| Katana Perps BTC-USDlong | +0.0100% | 8h | 85,932 | long leg | $209K | $8.0M | 50x | |
| Paradex BTC-USD-PERP | +0.0100% | 8h | 85,958.1 | +0.030% | $5.9M | $8.0M | 50x | as long as short |
| Hyperliquid BTC | +0.0100% | 1h | 86,047 | +0.134% | $3.93B | $4.46B | 40x | as long as short |
| Pacifica BTC | +0.0100% | 1h | 85,963.6 | +0.037% | $40.3M | $581.9M | 50x | as long as short |
| Binance BTCUSDT | +0.0100% | 8h | 85,942.6 | +0.012% | $9.44B | $21.45B | 150x | as long as short |
| OKX BTC-USDT-SWAP | +0.0100% | 8h | 85,950 | +0.021% | $2.60B | $9.83B | 100x | as long as short |
| Ondo Perps BTC-USD.P | +0.0100% | 1h | 85,919 | −0.015% | $4.0M | $15.6M | 25x | as long as short |
| Arcus BTC-USD | +0.0100% | 1h | 85,977.5 | +0.053% | $4.2M | $91.7M | 40x | as long as short |
| MEXC BTC_USDT | +0.0100% | 8h | 85,941 | +0.010% | $5.14B | $5.38B | 500x | as long as short |
| Backpack BTC_USDC_PERP | +0.0100% | 1h | 85,943.6 | +0.013% | $37.4M | $192.9M | 75x | as long as short |
| Variational Omni BTC | +0.0100% | 8h | 85,913 | −0.022% | $156.0M | $495.1M | — | as long as short |
| edgeX BTCUSDC | +0.0100% | 4h | 85,857.1 | −0.087% | $289.1M | $848.9M | 100x | as long as short |
| GRVT BTC_USDT_Perp | +0.0100% | 8h | 85,890.1 | −0.049% | $215.7M | $139.9M | 50x | as long as short |
| StandX BTC-USD | +0.0100% | 1h | 85,991 | +0.069% | $30.2M | $220.9M | 40x | as long as short |
| Vest BTC-PERP | +0.0100% | 1h | 86,020.7 | +0.103% | — | $10.5M | 50x | as long as short |
| Polymarket Perps BTC-USD | +0.0100% | 1h | 85,956 | +0.028% | $11.0M | $12.5M | 50x | as long as short |
| Bullet BTC-USD | +0.0100% | 1h | 85,952 | +0.023% | $202K | $3.2M | 20x | as long as short |
| Orderly PERP_BTC_USDC | +0.0100% | 8h | 85,950.4 | +0.021% | $2.6M | $8.9M | 100x | as long as short |
| Bluefin BTC-PERP | +0.0100% | 1h | 85,997.2 | +0.076% | $195K | $565K | 40x | as long as short |
| SunX BTC-USDT | +0.0100% | 8h | 85,957.1 | +0.029% | $3.2M | $7.1M | 100x | as long as short |
| HTX BTC-USDT | +0.0100% | 8h | 85,940 | +0.009% | $2.27B | $841.0M | 200x | as long as short |
| Phemex BTCUSDT | +0.0100% | 8h | 85,949.7 | +0.021% | $169.3M | $484.3M | 150x | as long as short |
| Bulk BTC-USD | +0.0100% | 1h | 85,914.7 | −0.020% | $712.8M | $159.6M | 40x | as long as short |
| Kraken Futures PF_XBTUSD | +0.0102% | 1h | 85,971.5 | +0.046% | $189.8M | $801.5M | 100x | as long as short |
| Extended BTC-USD | +0.0104% | 1h | 85,912.8 | −0.022% | $46.9M | $207.0M | 50x | as long as short |
| Jupiter Perps WBTC-PERP | L +0.0104% / S +0.0056% | 1h | 85,934.1 | +0.002% | — | $82.7M | 500x | as long as short |
| Coinbase International BTC-PERP-INTX | +0.0120% | 1h | 86,003.4 | +0.083% | $112.1M | $5.04B | 50x | as long as short |
| Reya BTCRUSDPERP | +0.0160% | 1h | 85,936.2 | +0.005% | $6.6M | $131.5M | 40x | as long as short |
| Kalshi KXBTCPERP | +0.0165% | 8h | 85,960 | +0.033% | $11.2M | $731.9M | 6.4x | as long as short |
| GMX BTC/USD [WBTC.b-USDC] | L +0.0199% / S −0.0183% | 1h | 85,960.4 | +0.033% | $13.2M | — | 200x | as long as short |
| RISEx BTC/USDC | +0.0204% | 1h | 85,975.4 | +0.051% | $8.9M | $38.7M | 25x | as long as short |
| Hibachi BTC/USDT-P | +0.0304% | 1h | 85,994.2 | +0.072% | $708K | $7.0M | 30x | as long as short |
| Deribit BTC-PERPETUAL | +0.0331% | 1h | 86,021.7 | +0.104% | $827.8M | $1.54B | 50x | as long as short |
| Aftermath Perps BTCUSD | +0.0433% | 1h | 85,992.1 | +0.070% | $81K | $247K | 20x | as long as short |
Bybit BTCUSDT
Aster BTCUSDT
KuCoin XBTUSDTM
Phoenix BTC
Gate BTC_USDT
Nado BTC-PERP
Lighter BTC
Lighter RH BTC
Aevo BTC-PERP
Bitget BTCUSDT
Paradex BTC-USD-PERP
Hyperliquid BTC
Pacifica BTC
Binance BTCUSDT
OKX BTC-USDT-SWAP
Ondo Perps BTC-USD.P
Arcus BTC-USD
MEXC BTC_USDT
Backpack BTC_USDC_PERP
Variational Omni BTC
edgeX BTCUSDC
GRVT BTC_USDT_Perp
StandX BTC-USD
Vest BTC-PERP
Polymarket Perps BTC-USD
Bullet BTC-USD
Orderly PERP_BTC_USDC
Bluefin BTC-PERP
SunX BTC-USDT
HTX BTC-USDT
Phemex BTCUSDT
Bulk BTC-USD
Kraken Futures PF_XBTUSD
Extended BTC-USD
Jupiter Perps WBTC-PERP
Coinbase International BTC-PERP-INTX
Reya BTCRUSDPERP
Kalshi KXBTCPERP
GMX BTC/USD [WBTC.b-USDC]
RISEx BTC/USDC
Hibachi BTC/USDT-P
Deribit BTC-PERPETUAL
Aftermath Perps BTCUSD