Funding you earn now, next payment 03:48 UTC−0.0235%/8h= −25.7% APRpaid last 24h +0.039%
Price spread now: Katana Perps against Perpl−0.037%7-day average −0.049% · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 4 days (all we have)−0.084%−$8 on $10k
+Price spread, last 7 days−0.086%−$9 · spread now −0.037%, 7d avg −0.049%
=Together, before fees−0.170%+ Points / potential airdropPerpl: Active · farm board−$17 on $10k · with fees, hour by hour
The price spread sits at its 7-day average of −0.049%, so right now this pair is about funding alone: −$7 a day on $10k at the current rate.
The current funding rate is far above what this pair has been paying: over the last 4 days it paid -0.084% in total (about -8.0% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Perpl BTC | 85,617.5 | 0.0335 | pay 0.0030% / 43m | 14m 24s | $496K | $18.8M | 6.7x |
| Short | Katana Perps BTC-USD | 85,586 | 0.0100 | get 0.0100% / 8h | 4h 00m | $204K | $8.1M | 50x |
Perpl BTC
Katana Perps BTC-USDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Katana Perps against Perpl. 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
- −$49.37
- Price spread: −0.037% → −0.049%
- $1.19
- Slippage, 4 orders
- no order book: not counted
- Fee Perpl: 6.9 bp × 2 orders
- −$13.8
- Fee Katana Perps: 1.9 bp × 2 orders
- −$3.8
- Net
- −$65.78
- Costs to cover
- 0.176%
- Break-even
- never at this rate
Slippage unknown: Perpl: no order-book sample; Katana 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 Perpl no order-book sample | — | — | — | — | — |
| Sell Katana Perps no order-book sample | — | — | — | — | — |
Perpl and 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 | |
|---|---|---|---|---|---|---|---|---|
| Phoenix BTC | −0.0179% | 1h | 85,565 | −0.061% | $2.1M | $10.3M | 40x | as long as short |
| Hotstuff BTC-PERP | −0.0080% | 1h | 85,581 | −0.043% | $8K | $3K | 50x | as long as short |
| 01 Exchange BTCUSD | −0.0048% | 1h | 85,603.9 | −0.016% | $367K | $2.3M | 50x | as long as short |
| KuCoin XBTUSDTM | −0.0035% | 8h | 85,597.1 | −0.024% | $922.0M | $752.1M | 125x | as long as short |
| BloFin BTC-USDT | −0.0020% | 8h | 85,600 | −0.020% | $417.7M | $670.1M | 150x | as long as short |
| gTrade (Gains Network) BTC/USD | L +0.0005% / S −0.0004% | 1h | 85,636.3 | +0.022% | $36.6M | — | 200x | as long as short |
| dYdX BTC-USD | +0.0010% | 1h | 85,629.7 | +0.014% | $16.8M | $21.3M | 50x | as long as short |
| Nado BTC-PERP | +0.0011% | 1h | 85,600.6 | −0.020% | $25.0M | $221.9M | 50x | as long as short |
| Aster BTCUSDT | +0.0014% | 8h | 85,615.2 | −0.003% | $516.1M | $1.10B | 200x | as long as short |
| Arcus BTC-USD | +0.0021% | 1h | 85,603.5 | −0.016% | $4.2M | $98.2M | 40x | as long as short |
Phoenix BTC
Hotstuff BTC-PERP
01 Exchange BTCUSD
KuCoin XBTUSDTM
BloFin BTC-USDT
gTrade (Gains Network) BTC/USD
dYdX BTC-USD
Nado BTC-PERP
Aster BTCUSDT
Arcus BTC-USDShow all 56 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| BingX BTC-USDT | +0.0063% | 8h | 85,633.6 | +0.019% | — | $1.54B | — | as long as short |
| Phemex BTCUSDT | +0.0069% | 8h | 85,606.1 | −0.013% | $148.5M | $489.1M | 150x | as long as short |
| Bitget BTCUSDT | +0.0079% | 8h | 85,630.7 | +0.015% | $2.96B | $5.08B | 150x | as long as short |
| Bluefin BTC-PERP | +0.0081% | 1h | 85,675.6 | +0.068% | $207K | $739K | 40x | as long as short |
| Deribit BTC-PERPETUAL | +0.0084% | 1h | 85,618.7 | +0.001% | $886.8M | $1.58B | 50x | as long as short |
| Reya BTCRUSDPERP | +0.0088% | 1h | 85,626.4 | +0.010% | $6.6M | $146.9M | 40x | as long as short |
| Lighter BTC | +0.0096% | 1h | 85,618.8 | +0.002% | $172.1M | $1.02B | 50x | as long as short |
| Lighter RH BTC | +0.0096% | 1h | 85,618.3 | +0.001% | $23.9M | $149.6M | 50x | as long as short |
| Popdex BTCUSDT | +0.0096% | 1h | 85,618 | +0.001% | $8.7M | $53.6M | 100x | as long as short |
| Aevo BTC-PERP | +0.0096% | 1h | 85,618.2 | +0.001% | $2.5M | $1.7M | 20x | as long as short |
| Katana Perps BTC-USDshort | +0.0100% | 8h | 85,586 | −0.037% | $204K | $8.1M | 50x | |
| Paradex BTC-USD-PERP | +0.0100% | 8h | 85,670.3 | +0.062% | $5.2M | $9.1M | 50x | as long as short |
| Hyperliquid BTC | +0.0100% | 1h | 85,709 | +0.107% | $3.79B | $5.01B | 40x | as long as short |
| Pacifica BTC | +0.0100% | 1h | 85,644.7 | +0.032% | $40.3M | $581.6M | 50x | as long as short |
| Binance BTCUSDT | +0.0100% | 8h | 85,633.7 | +0.019% | $9.38B | $24.18B | 150x | as long as short |
| Bybit BTCUSDT | +0.0100% | 8h | 85,629.9 | +0.014% | $5.20B | $9.80B | 150x | as long as short |
| OKX BTC-USDT-SWAP | +0.0100% | 8h | 85,639.9 | +0.026% | $2.59B | $12.16B | 100x | as long as short |
| Ondo Perps BTC-USD.P | +0.0100% | 1h | 85,624 | +0.008% | $3.8M | $17.8M | 25x | as long as short |
| Bulk BTC-USD | +0.0100% | 1h | 85,487.5 | −0.152% | $672.1M | $698.9M | 40x | as long as short |
| Gate BTC_USDT | +0.0100% | 8h | 85,626 | +0.010% | $5.52B | $10.78B | 200x | as long as short |
| MEXC BTC_USDT | +0.0100% | 8h | 85,624.3 | +0.008% | $5.07B | $5.66B | 500x | as long as short |
| Backpack BTC_USDC_PERP | +0.0100% | 1h | 85,593.4 | −0.028% | $35.2M | $177.2M | 75x | as long as short |
| Variational Omni BTC | +0.0100% | 8h | 85,565.9 | −0.060% | $153.8M | $564.4M | — | as long as short |
| edgeX BTCUSDC | +0.0100% | 4h | 85,523.8 | −0.109% | $279.4M | $922.5M | 100x | as long as short |
| GRVT BTC_USDT_Perp | +0.0100% | 8h | 85,554.3 | −0.074% | $214.7M | $167.9M | 50x | as long as short |
| ApeX Omni BTCUSDT | +0.0100% | 1h | 85,562.4 | −0.064% | $139.9M | $314.9M | 100x | as long as short |
| StandX BTC-USD | +0.0100% | 1h | 85,544.2 | −0.086% | $30.2M | $208.8M | 40x | as long as short |
| Vest BTC-PERP | +0.0100% | 1h | 85,662.5 | +0.053% | — | $11.8M | 50x | as long as short |
| Polymarket Perps BTC-USD | +0.0100% | 1h | 85,620 | +0.003% | $11.1M | $14.2M | 50x | as long as short |
| Bullet BTC-USD | +0.0100% | 1h | 85,633.7 | +0.019% | $194K | $3.3M | 20x | as long as short |
| Orderly PERP_BTC_USDC | +0.0100% | 8h | 85,626.8 | +0.011% | $2.4M | $8.8M | 100x | as long as short |
| Derive BTC-PERP | +0.0100% | 1h | 85,618.9 | +0.002% | $30.0M | $50.0M | 15x | as long as short |
| SunX BTC-USDT | +0.0100% | 8h | 85,563.9 | −0.063% | $2.9M | $6.1M | 100x | as long as short |
| SoDEX BTC-USD | +0.0100% | 1h | 85,578 | −0.046% | $60.0M | $336.1M | 40x | as long as short |
| HTX BTC-USDT | +0.0100% | 8h | 85,584.3 | −0.039% | $2.27B | $942.8M | 200x | as long as short |
| Extended BTC-USD | +0.0104% | 1h | 85,593 | −0.029% | $44.7M | $231.0M | 50x | as long as short |
| Jupiter Perps WBTC-PERP | L +0.0104% / S +0.0048% | 1h | 85,592.5 | −0.029% | — | $107.5M | 500x | as long as short |
| Coinbase International BTC-PERP-INTX | +0.0104% | 1h | 85,610.2 | −0.009% | $117.5M | $5.20B | 50x | as long as short |
| Injective BTC/USDC PERP | +0.0150% | 1h | 85,610 | −0.009% | $340K | $26.9M | 52x | as long as short |
| Kraken Futures PF_XBTUSD | +0.0170% | 1h | 85,598.1 | −0.023% | $187.6M | $953.6M | 100x | as long as short |
| RISEx BTC/USDC | +0.0194% | 1h | 85,638.9 | +0.025% | $8.4M | $42.6M | 25x | as long as short |
| GMX BTC/USD [WBTC.b-USDC] | L +0.0202% / S −0.0178% | 1h | 85,634.1 | +0.019% | $13.2M | — | 200x | as long as short |
| Aftermath Perps BTCUSD | +0.0211% | 1h | 85,558.2 | −0.069% | $78K | $220K | 20x | as long as short |
| Kalshi KXBTCPERP | +0.0220% | 8h | 85,623 | +0.006% | $10.3M | $754.9M | 6.4x | as long as short |
| Hibachi BTC/USDT-P | +0.0256% | 1h | 85,621.2 | +0.004% | $702K | $7.8M | 30x | as long as short |
| Perpl BTClong | +0.0335% | 43m | 85,617.5 | long leg | $496K | $18.8M | 6.7x |
BingX BTC-USDT
Phemex BTCUSDT
Bitget BTCUSDT
Bluefin BTC-PERP
Deribit BTC-PERPETUAL
Reya BTCRUSDPERP
Lighter BTC
Lighter RH BTC
Popdex BTCUSDT
Aevo BTC-PERP
Paradex BTC-USD-PERP
Hyperliquid BTC
Pacifica BTC
Binance BTCUSDT
Bybit BTCUSDT
OKX BTC-USDT-SWAP
Ondo Perps BTC-USD.P
Bulk BTC-USD
Gate BTC_USDT
MEXC BTC_USDT
Backpack BTC_USDC_PERP
Variational Omni BTC
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
Derive BTC-PERP
SunX BTC-USDT
SoDEX BTC-USD
HTX BTC-USDT
Extended BTC-USD
Jupiter Perps WBTC-PERP
Coinbase International BTC-PERP-INTX
Injective BTC/USDC PERP
Kraken Futures PF_XBTUSD
RISEx BTC/USDC
GMX BTC/USD [WBTC.b-USDC]
Aftermath Perps BTCUSD
Kalshi KXBTCPERP
Hibachi BTC/USDT-P