Funding you earn now, next payment 22:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h −0.004%
Price spread now: Popdex against Orderly−0.014%7-day average +0.005% · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 3 days (all we have)−0.008%−$1 on $10k
+Price spread, last 3 days (all we have)+0.077%+$8 · spread now −0.014%, 7d avg +0.005%
=| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Orderly PERP_BTC_USDC | 86,632.5 | 0.0100 | pay 0.0100% / 8h | 2h 30m | $2.5M | $8.5M | 100x |
| Short | Popdex BTCUSDT | 86,620 | 0.0096 | get 0.0012% / 1h | 30m 51s | $8.5M | $52.2M | 100x |
Orderly PERP_BTC_USDC
Popdex BTCUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Popdex against Orderly. 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
- −$0.84
- Price spread: −0.014% → +0.005%
- −$1.93
- Slippage, 4 orders
- no order book: not counted
- Fee Orderly: 3 bp × 2 orders
- −$6
- Fee Popdex: 3.2 bp × 2 orders
- −$6.4
- Net
- −$15.17
- Costs to cover
- 0.124%
- Break-even
- never at this rate
Slippage unknown: Orderly: no order-book sample; Popdex: live order book, 3 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 Orderly no order-book sample | — | — | — | — | — |
| Sell Popdex live order book, 3 min ago | 0.06 bp | 3.5 bp −$4 | 3.7 bp −$37 | 4.0 bp −$395 | 5.6 bp −$2,779 |
Orderly: 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 | |
|---|---|---|---|---|---|---|---|---|
| Aftermath Perps BTCUSD | −0.0233% | 1h | 86,613.5 | −0.022% | $85K | $188K | 20x | as long as short |
| Perpl BTC | −0.0223% | 43m | 86,634.5 | +0.002% | $428K | $24.9M | 6.7x | as long as short |
| Phoenix BTC | −0.0103% | 1h | 86,590 | −0.049% | $2.2M | $12.4M | 40x | as long as short |
| dYdX BTC-USD | −0.0083% | 1h | 86,626.4 | −0.007% | $17.6M | $20.5M | 50x | as long as short |
| Hotstuff BTC-PERP | −0.0080% | 1h | 86,574 | −0.068% | $9K | $3K | 50x | as long as short |
| 01 Exchange BTCUSD | 0.0000% | 1h | 86,627.5 | −0.006% | $362K | $2.4M | 50x | as long as short |
| Deribit BTC-PERPETUAL | 0.0000% | 1h | 86,652.7 | +0.023% | $935.1M | $1.44B | 50x | as long as short |
| KuCoin XBTUSDTM | +0.0002% | 8h | 86,617.1 | −0.018% | $843.8M | $704.8M | 125x | as long as short |
| gTrade (Gains Network) BTC/USD | L +0.0004% / S −0.0004% | 1h | 86,641.2 | +0.010% | $37.0M | — | 200x | as long as short |
| Aster BTCUSDT | +0.0008% | 8h | 86,604.7 | −0.032% | $505.8M | $1.16B | 200x | as long as short |
Aftermath Perps BTCUSD
Perpl BTC
Phoenix BTC
dYdX BTC-USD
Hotstuff BTC-PERP
01 Exchange BTCUSD
Deribit BTC-PERPETUAL
KuCoin XBTUSDTM
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 | 86,618.6 | −0.016% | $6.7M | $144.3M | 40x | as long as short |
| BingX BTC-USDT | +0.0023% | 8h | 86,620.5 | −0.014% | — | $1.59B | — | as long as short |
| Phemex BTCUSDT | +0.0025% | 8h | 86,618 | −0.017% | $149.7M | $471.5M | 150x | as long as short |
| Bitget BTCUSDT | +0.0030% | 8h | 86,619.3 | −0.015% | $2.95B | $5.07B | 150x | as long as short |
| Injective BTC/USDC PERP | +0.0049% | 1h | 86,639 | +0.008% | $315K | $26.8M | 52x | as long as short |
| MEXC BTC_USDT | +0.0053% | 8h | 86,619.4 | −0.015% | $5.19B | $5.67B | 500x | as long as short |
| Binance BTCUSDT | +0.0053% | 8h | 86,617.9 | −0.017% | $9.44B | $24.31B | 150x | as long as short |
| Aevo BTC-PERP | +0.0056% | 1h | 86,621.3 | −0.013% | $2.4M | $1.3M | 20x | as long as short |
| RISEx BTC/USDC | +0.0063% | 1h | 86,589.8 | −0.049% | $9.2M | $42.0M | 25x | as long as short |
| OKX BTC-USDT-SWAP | +0.0073% | 8h | 86,630.2 | −0.003% | $2.56B | $12.70B | 100x | as long as short |
| Gate BTC_USDT | +0.0075% | 8h | 86,621.9 | −0.012% | $5.86B | $10.64B | 200x | as long as short |
| Bybit BTCUSDT | +0.0082% | 8h | 86,616 | −0.019% | $5.27B | $9.67B | 150x | as long as short |
| Variational Omni BTC | +0.0092% | 8h | 86,584.3 | −0.056% | $160.0M | $567.1M | — | as long as short |
| Lighter BTC | +0.0096% | 1h | 86,633.7 | +0.001% | $172.0M | $1.01B | 50x | as long as short |
| Lighter RH BTC | +0.0096% | 1h | 86,637.9 | +0.006% | $24.0M | $153.5M | 50x | as long as short |
| Popdex BTCUSDTshort | +0.0096% | 1h | 86,620 | −0.014% | $8.5M | $52.2M | 100x | |
| Katana Perps BTC-USD | +0.0100% | 8h | 86,607 | −0.029% | $194K | $6.8M | 50x | as long as short |
| Paradex BTC-USD-PERP | +0.0100% | 8h | 86,630.3 | −0.003% | $4.8M | $8.2M | 50x | as long as short |
| Nado BTC-PERP | +0.0100% | 1h | 86,577.1 | −0.064% | $21.7M | $235.4M | 50x | as long as short |
| Hyperliquid BTC | +0.0100% | 1h | 86,694 | +0.071% | $3.82B | $5.12B | 40x | as long as short |
| Pacifica BTC | +0.0100% | 1h | 86,612.1 | −0.024% | $41.3M | $490.3M | 50x | as long as short |
| Ondo Perps BTC-USD.P | +0.0100% | 1h | 86,594 | −0.044% | $3.9M | $18.6M | 25x | as long as short |
| Arcus BTC-USD | +0.0100% | 1h | 86,647.6 | +0.017% | $7.5M | $93.6M | 40x | as long as short |
| Bulk BTC-USD | +0.0100% | 1h | 86,577.9 | −0.063% | $571.8M | $22.4M | 40x | as long as short |
| Backpack BTC_USDC_PERP | +0.0100% | 1h | 86,624.7 | −0.009% | $38.1M | $148.4M | 75x | as long as short |
| edgeX BTCUSDC | +0.0100% | 4h | 86,620.6 | −0.014% | $279.9M | $950.7M | 100x | as long as short |
| GRVT BTC_USDT_Perp | +0.0100% | 8h | 86,619.4 | −0.015% | $217.4M | $187.8M | 50x | as long as short |
| ApeX Omni BTCUSDT | +0.0100% | 1h | 86,627.4 | −0.006% | $141.4M | $322.8M | 100x | as long as short |
| StandX BTC-USD | +0.0100% | 1h | 86,600 | −0.038% | $30.8M | $205.6M | 40x | as long as short |
| Vest BTC-PERP | +0.0100% | 1h | 86,668.9 | +0.042% | — | $11.6M | 50x | as long as short |
| Polymarket Perps BTC-USD | +0.0100% | 1h | 86,625 | −0.009% | $11.1M | $13.7M | 50x | as long as short |
| Bullet BTC-USD | +0.0100% | 1h | 86,621 | −0.013% | $194K | $3.4M | 20x | as long as short |
| Orderly PERP_BTC_USDClong | +0.0100% | 8h | 86,632.5 | long leg | $2.5M | $8.5M | 100x | |
| Bluefin BTC-PERP | +0.0100% | 1h | 86,644.6 | +0.014% | $141K | $619K | 40x | as long as short |
| Derive BTC-PERP | +0.0100% | 1h | 86,625.8 | −0.008% | $30.0M | $61.6M | 15x | as long as short |
| SunX BTC-USDT | +0.0100% | 8h | 86,612.9 | −0.023% | $3.4M | $5.5M | 100x | as long as short |
| SoDEX BTC-USD | +0.0100% | 1h | 86,618 | −0.017% | $60.5M | $336.4M | 40x | as long as short |
| HTX BTC-USDT | +0.0100% | 8h | 86,590.4 | −0.049% | $2.30B | $957.0M | 200x | as long as short |
| Extended BTC-USD | +0.0104% | 1h | 86,608 | −0.028% | $46.4M | $227.9M | 50x | as long as short |
| Jupiter Perps WBTC-PERP | L +0.0104% / S +0.0048% | 1h | 86,641.1 | +0.010% | — | $98.4M | 500x | as long as short |
| Kraken Futures PF_XBTUSD | +0.0116% | 1h | 86,657.4 | +0.029% | $189.0M | $930.4M | 100x | as long as short |
| Coinbase International BTC-PERP-INTX | +0.0120% | 1h | 86,668.1 | +0.041% | $132.0M | $5.86B | 50x | as long as short |
| Kalshi KXBTCPERP | +0.0124% | 8h | 86,624 | −0.010% | $8.9M | $723.7M | 6.4x | as long as short |
| BloFin BTC-USDT | +0.0173% | 8h | 86,599.6 | −0.038% | $416.9M | $652.8M | 150x | as long as short |
| GMX BTC/USD [WBTC.b-USDC] | L +0.0178% / S −0.0185% | 1h | 86,635.8 | +0.004% | $14.9M | — | 200x | as long as short |
| Hibachi BTC/USDT-P | +0.0224% | 1h | 86,646.1 | +0.016% | $614K | $7.1M | 30x | as long as short |
Reya BTCRUSDPERP
BingX BTC-USDT
Phemex BTCUSDT
Bitget BTCUSDT
Injective BTC/USDC PERP
MEXC BTC_USDT
Binance BTCUSDT
Aevo BTC-PERP
RISEx BTC/USDC
OKX BTC-USDT-SWAP
Gate BTC_USDT
Bybit BTCUSDT
Variational Omni BTC
Lighter BTC
Lighter RH BTC
Katana Perps BTC-USD
Paradex BTC-USD-PERP
Nado BTC-PERP
Hyperliquid BTC
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
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
Coinbase International BTC-PERP-INTX
Kalshi KXBTCPERP
BloFin BTC-USDT
GMX BTC/USD [WBTC.b-USDC]
Hibachi BTC/USDT-P