BTC

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0021%/8h= −2.3% APRnext payment −$0.03 per $10,000 · paid last 24h +0.008%

Price spread now: Ondo Perps against Kraken Futures−0.016%7-day average −0.013% · you buy dearer than you sell

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

Long on Kraken Futures Short on Ondo Perps

What this pair did over the last

the charts below follow

Funding, last 7 days+0.037%+$4 on $10k

Price spread, last 3 days (all we have)+0.010%+$1 · spread now −0.016%, 7d avg −0.013%

Together, before fees+0.047%+ Points / potential airdropOndo Perps: Active · farm board+$5 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.013%, so right now this pair is about funding alone: −$1 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_XBTUSD	86,465.1	0.0121	pay 0.0015% / 1h	56m 40s	$193.1M	$951.7M	100x
Short	Ondo Perps BTC-USD.P	86,451	0.0100	get 0.0013% / 1h	56m 40s	$3.9M	$18.1M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Ondo 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 Ondo PerpsbpOrdersPrice spread, now −0.016%Rate

Funding earned: −$4.4
Price spread: −0.016% → −0.013%: −$0.35
Slippage, 4 orders: no order book: not counted
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Net: −$19.75
Costs to cover: 0.150%
Break-even: never at this rate

Slippage unknown: Kraken Futures: live order book, 3 min ago; Ondo 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, 3 min ago	0.06 bp	6.0 bp −$6	7.0 bp −$70	8.7 bp −$866	10.7 bp −$5,366
Sell Ondo Perps no order-book sample	—	—	—	—	—

Ondo 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
Bluefin BTC-PERP	−0.1481%	1h	86,487.5	+0.026%	$140K	$664K	40x	as long as short
Phoenix BTC	−0.0118%	1h	86,544	+0.091%	$2.2M	$11.2M	40x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	86,443	−0.026%	$9K	$3K	50x	as long as short
01 Exchange BTCUSD	−0.0032%	1h	86,426.3	−0.045%	$360K	$2.4M	50x	as long as short
Perpl BTC	0.0000%	43m	86,492	+0.031%	$413K	$22.2M	6.7x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0005% / S −0.0004%	1h	86,494.6	+0.034%	$37.0M	—	200x	as long as short
dYdX BTC-USD	+0.0009%	1h	86,458.7	−0.007%	$16.9M	$21.2M	50x	as long as short
Aster BTCUSDT	+0.0015%	8h	86,441.6	−0.027%	$501.4M	$1.15B	200x	as long as short
Injective BTC/USDC PERP	+0.0023%	1h	86,616	+0.175%	$333K	$26.9M	52x	as long as short
KuCoin XBTUSDTM	+0.0029%	8h	86,446.3	−0.022%	$834.3M	$727.9M	125x	as long as short

Show all 56 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Reya BTCRUSDPERP	+0.0039%	1h	86,467.9	+0.003%	$6.7M	$145.7M	40x	as long as short
BingX BTC-USDT	+0.0046%	8h	86,436.6	−0.033%	—	$1.59B	—	as long as short
RISEx BTC/USDC	+0.0052%	1h	86,429.3	−0.041%	$8.4M	$42.8M	25x	as long as short
Bitget BTCUSDT	+0.0058%	8h	86,430.3	−0.040%	$2.96B	$5.11B	150x	as long as short
Deribit BTC-PERPETUAL	+0.0059%	1h	86,483.2	+0.021%	$908.5M	$1.50B	50x	as long as short
SoDEX BTC-USD	+0.0071%	1h	86,439	−0.030%	$60.4M	$338.1M	40x	as long as short
MEXC BTC_USDT	+0.0076%	8h	86,441.6	−0.027%	$5.14B	$5.64B	500x	as long as short
Binance BTCUSDT	+0.0076%	8h	86,440.4	−0.029%	$9.43B	$24.54B	150x	as long as short
Aevo BTC-PERP	+0.0080%	1h	86,468.9	+0.004%	$2.5M	$1.3M	20x	as long as short
Lighter BTC	+0.0096%	1h	86,460.2	−0.006%	$170.2M	$979.7M	50x	as long as short
Lighter RH BTC	+0.0096%	1h	86,461.4	−0.004%	$23.7M	$148.6M	50x	as long as short
Popdex BTCUSDT	+0.0096%	1h	86,418	−0.054%	$8.4M	$52.3M	100x	as long as short
Bybit BTCUSDT	+0.0099%	8h	86,433.5	−0.037%	$5.26B	$9.77B	150x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	86,405	−0.069%	$199K	$7.1M	50x	as long as short
Paradex BTC-USD-PERP	+0.0100%	8h	86,478	+0.015%	$4.8M	$8.5M	50x	as long as short
Nado BTC-PERP	+0.0100%	1h	86,504.4	+0.045%	$22.1M	$233.5M	50x	as long as short
Hyperliquid BTC	+0.0100%	1h	86,526	+0.070%	$3.80B	$5.11B	40x	as long as short
Pacifica BTC	+0.0100%	1h	86,477.5	+0.014%	$40.8M	$540.8M	50x	as long as short
OKX BTC-USDT-SWAP	+0.0100%	8h	86,442.5	−0.026%	$2.55B	$12.70B	100x	as long as short
Ondo Perps BTC-USD.Pshort	+0.0100%	1h	86,451	−0.016%	$3.9M	$18.1M	25x
Arcus BTC-USD	+0.0100%	1h	86,463.2	−0.002%	$7.3M	$96.7M	40x	as long as short
Bulk BTC-USD	+0.0100%	1h	86,523.6	+0.068%	$572.9M	$12.4M	40x	as long as short
Gate BTC_USDT	+0.0100%	8h	86,439.8	−0.029%	$5.86B	$10.42B	200x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	86,438.2	−0.031%	$37.7M	$156.1M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	86,554.4	+0.103%	$157.4M	$568.6M	—	as long as short
edgeX BTCUSDC	+0.0100%	4h	86,572.4	+0.124%	$279.6M	$946.5M	100x	as long as short
GRVT BTC_USDT_Perp	+0.0100%	8h	86,585.4	+0.139%	$217.4M	$171.3M	50x	as long as short
ApeX Omni BTCUSDT	+0.0100%	1h	86,575	+0.127%	$141.8M	$323.5M	100x	as long as short
StandX BTC-USD	+0.0100%	1h	86,558	+0.107%	$30.7M	$208.1M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	86,533.5	+0.079%	—	$11.9M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	86,467	+0.002%	$11.1M	$13.9M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	86,472.4	+0.008%	$193K	$3.3M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	86,442.9	−0.026%	$2.5M	$9.3M	100x	as long as short
Derive BTC-PERP	+0.0100%	1h	86,480.6	+0.018%	$30.5M	$62.6M	15x	as long as short
SunX BTC-USDT	+0.0100%	8h	86,486.5	+0.025%	$3.4M	$5.3M	100x	as long as short
HTX BTC-USDT	+0.0100%	8h	86,439.2	−0.030%	$2.29B	$969.3M	200x	as long as short
Phemex BTCUSDT	+0.0100%	8h	86,450.1	−0.017%	$152.9M	$479.4M	150x	as long as short
Extended BTC-USD	+0.0104%	1h	86,411.3	−0.062%	$45.8M	$224.9M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0048%	1h	86,533.3	+0.079%	—	$100.0M	500x	as long as short
Coinbase International BTC-PERP-INTX	+0.0120%	1h	86,481.8	+0.019%	$132.4M	$5.62B	50x	as long as short
Kraken Futures PF_XBTUSDlong	+0.0121%	1h	86,465.1	long leg	$193.1M	$951.7M	100x
Aftermath Perps BTCUSD	+0.0163%	1h	86,556.4	+0.106%	$78K	$219K	20x	as long as short
Hibachi BTC/USDT-P	+0.0176%	1h	86,563.5	+0.114%	$716K	$8.0M	30x	as long as short
BloFin BTC-USDT	+0.0197%	8h	86,444.4	−0.024%	$414.8M	$658.9M	150x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0201% / S −0.0224%	1h	86,488	+0.027%	$14.9M	—	200x	as long as short
Kalshi KXBTCPERP	+0.0210%	8h	86,533	+0.079%	$9.2M	$758.0M	6.4x	as long as short