BTC

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0124%/8h= −13.5% APRnext payment −$0.15 per $10,000 · paid last 24h −0.039%

Price spread now: Jupiter Perps against Kraken Futures−0.072%7-day average −0.008% · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Kraken Futures Short on Jupiter Perps

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.124%−$12 on $10k

Price spread, last 4 days (all we have)+0.198%+$20 · spread now −0.072%, 7d avg −0.008%

Together, before fees+0.074%+$7 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$4 a day on $10k at the current rate, and Jupiter Perps is 0.064% cheaper against Kraken Futures than usual: you would sell low and buy high (−$6 if the spread goes back to its 7-day average of −0.008%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_XBTUSD	86,070.1	0.0068	pay 0.0008% / 1h	14m 47s	$188.5M	$872.0M	100x
Short	Jupiter Perps WBTC-PERP	86,007.9	L +0.0104% / S +0.0056%	pay 0.0007% / 1h	14m 47s	—	$94.6M	500x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Jupiter Perps against Kraken Futures. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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latest

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

Profit calculator

Position, each leg$Hold fordaysFee Kraken FuturesbpFee Jupiter PerpsbpOrdersPrice spread, now −0.072%Rate

Funding earned: −$25.98
Price spread: −0.072% → −0.008%: −$6.39
Slippage, 4 orders: no order book: not counted
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Jupiter Perps: 6 bp × 2 orders: −$12
Net: −$54.37
Costs to cover: 0.220%
Break-even: never at this rate

Slippage unknown: Kraken Futures: live order book, 4 min ago; Jupiter Perps: no order-book sample. 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 Kraken Futures live order book, 4 min ago	0.06 bp	5.3 bp −$5	6.3 bp −$63	7.3 bp −$730	10.2 bp −$5,095
Sell Jupiter Perps no order-book sample	—	—	—	—	—

Jupiter 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	−0.0516%	1h	86,081.5	+0.013%	$195K	$684K	40x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	86,031	−0.045%	$8K	$2K	50x	as long as short
BloFin BTC-USDT	−0.0020%	8h	86,061.3	−0.010%	$424.5M	$626.5M	150x	as long as short
01 Exchange BTCUSD	−0.0008%	1h	86,006	−0.074%	$355K	$2.1M	50x	as long as short
Injective BTC/USDC PERP	−0.0006%	1h	86,071	+0.001%	$308K	$27.2M	52x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0004% / S −0.0004%	1h	86,040	−0.035%	$36.8M	—	200x	as long as short
KuCoin XBTUSDTM	+0.0026%	8h	86,100.1	+0.035%	$922.9M	$681.2M	125x	as long as short
dYdX BTC-USD	+0.0043%	1h	86,043.4	−0.031%	$16.8M	$19.5M	50x	as long as short
Aster BTCUSDT	+0.0043%	8h	86,109.1	+0.045%	$506.8M	$994.8M	200x	as long as short
Kraken Futures PF_XBTUSDlong	+0.0068%	1h	86,070.1	long leg	$188.5M	$872.0M	100x

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phoenix BTC	+0.0075%	1h	85,933	−0.159%	$2.3M	$10.4M	40x	as long as short
BingX BTC-USDC	+0.0080%	8h	86,092.6	+0.026%	—	$17.1M	—	as long as short
Bybit BTCUSDT	+0.0083%	8h	86,108.8	+0.045%	$5.11B	$9.19B	150x	as long as short
Nado BTC-PERP	+0.0087%	1h	85,987.5	−0.096%	$22.2M	$209.9M	50x	as long as short
Lighter BTC	+0.0096%	1h	86,054.5	−0.018%	$172.9M	$961.0M	50x	as long as short
Lighter RH BTC	+0.0096%	1h	86,065.4	−0.005%	$23.2M	$136.7M	50x	as long as short
Popdex BTCUSDT	+0.0096%	1h	86,003	−0.078%	$8.7M	$52.3M	100x	as long as short
Aevo BTC-PERP	+0.0096%	1h	86,047.8	−0.026%	$2.4M	$6.7M	20x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	85,988	−0.095%	$215K	$8.3M	50x	as long as short
Paradex BTC-USD-PERP	+0.0100%	8h	86,098.6	+0.033%	$5.9M	$9.0M	50x	as long as short
Pacifica BTC	+0.0100%	1h	86,066	−0.005%	$40.5M	$591.1M	50x	as long as short
Binance BTCUSDT	+0.0100%	8h	86,121.4	+0.060%	$9.44B	$23.22B	150x	as long as short
OKX BTC-USDT-SWAP	+0.0100%	8h	86,113.4	+0.050%	$2.61B	$10.88B	100x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	86,013	−0.066%	$3.9M	$16.4M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	86,024.1	−0.053%	$4.6M	$95.3M	40x	as long as short
Gate BTC_USDT	+0.0100%	8h	86,123	+0.061%	$5.50B	$10.12B	200x	as long as short
MEXC BTC_USDT	+0.0100%	8h	86,123	+0.061%	$5.10B	$5.84B	500x	as long as short
Bitget BTCUSDT	+0.0100%	8h	86,120.8	+0.059%	$2.99B	$4.61B	150x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	86,027.7	−0.049%	$37.9M	$187.4M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	86,046.3	−0.028%	$156.9M	$515.9M	—	as long as short
edgeX BTCUSDC	+0.0100%	4h	85,898.8	−0.199%	$287.3M	$974.3M	100x	as long as short
GRVT BTC_USDT_Perp	+0.0100%	8h	85,846.1	−0.260%	$215.6M	$155.7M	50x	as long as short
ApeX Omni BTCUSDT	+0.0100%	1h	85,913.6	−0.182%	$137.1M	$302.5M	100x	as long as short
StandX BTC-USD	+0.0100%	1h	85,905.6	−0.191%	$30.3M	$214.5M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	86,074.6	+0.005%	—	$9.8M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	85,984	−0.100%	$11.0M	$13.6M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	86,018	−0.061%	$211K	$3.3M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	86,036.9	−0.039%	$2.6M	$9.4M	100x	as long as short
SunX BTC-USDT	+0.0100%	8h	86,048.2	−0.025%	$3.1M	$7.0M	100x	as long as short
SoDEX BTC-USD	+0.0100%	1h	86,042	−0.033%	$60.2M	$258.0M	40x	as long as short
HTX BTC-USDT	+0.0100%	8h	86,042.6	−0.032%	$2.27B	$915.4M	200x	as long as short
Phemex BTCUSDT	+0.0100%	8h	86,048.9	−0.025%	$167.4M	$500.3M	150x	as long as short
Bulk BTC-USD	+0.0100%	1h	85,869.6	−0.233%	$707.4M	$169.5M	40x	as long as short
Extended BTC-USD	+0.0104%	1h	86,081.6	+0.013%	$46.4M	$223.6M	50x	as long as short
Jupiter Perps WBTC-PERPshort	L +0.0104% / S +0.0056%	1h	86,007.9	−0.072%	—	$94.6M	500x
Coinbase International BTC-PERP-INTX	+0.0112%	1h	86,094.4	+0.028%	$112.6M	$5.33B	50x	as long as short
Deribit BTC-PERPETUAL	+0.0148%	1h	86,087.8	+0.021%	$830.3M	$1.61B	50x	as long as short
Reya BTCRUSDPERP	+0.0152%	1h	85,986	−0.098%	$6.7M	$134.3M	40x	as long as short
Hyperliquid BTC	+0.0155%	1h	86,198	+0.149%	$3.88B	$4.78B	40x	as long as short
Kalshi KXBTCPERP	+0.0189%	8h	86,047	−0.027%	$11.0M	$726.8M	6.4x	as long as short
RISEx BTC/USDC	+0.0194%	1h	86,029.5	−0.047%	$9.0M	$40.9M	25x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0198% / S −0.0176%	1h	86,053.9	−0.019%	$12.9M	—	200x	as long as short
Hibachi BTC/USDT-P	+0.0328%	1h	85,948	−0.142%	$698K	$7.4M	30x	as long as short
Aftermath Perps BTCUSD	+0.0365%	1h	85,888	−0.212%	$84K	$258K	20x	as long as short
Perpl BTC	+0.0447%	43m	86,032.4	−0.044%	$480K	$17.0M	6.7x	as long as short