BTC

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0041%/8h= −4.5% APRnext payment −$0.05 per $10,000 · paid last 24h −0.009%

Price spread now: ApeX Omni against Popdex+0.037%57s7-day average +0.005% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$170.170% of the position

Long on Popdex Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.014%−$1 on $10k

Price spread, last 7 days−0.049%−$5 · spread now +0.037%, 7d avg +0.005%

Together, before fees−0.063%−$6 on $10k · with fees, hour by hour

The price spread pays, funding is against you. ApeX Omni is 0.032% dearer against Popdex than usual: you sell high and buy low (spread +0.037% now, against its 7-day average of +0.005%): +$3 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 2.6 days. At the pace of the last 4 days (−0.014% in total) that is about 8.6 days. The two prices were read 57 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Popdex BTCUSDT	85,232	0.0096	pay 0.0012% / 1h	34m 28s	$8.4M	$56.3M	100x
Short	ApeX Omni BTCUSDT	85,263.5	0.0055	get 0.0007% / 1h	34m 28s	$139.4M	$314.4M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against Popdex. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

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 PopdexbpFee ApeX OmnibpOrdersPrice spread, now +0.037%Rate

Funding earned: −$8.62
Price spread: +0.037% → +0.005%: $3.24
Slippage, 4 orders: −$0.55
Fee Popdex: 3.2 bp × 2 orders: −$6.4
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$22.34
Costs to cover: 0.170%
Break-even: never at this rate

Slippage from Popdex: live order book, 5 min ago; ApeX Omni: live order book, 5 min ago.

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 Popdex live order book, 5 min ago	0.06 bp	3.3 bp −$3	4.0 bp −$40	5.1 bp −$507	6.5 bp −$3,248
Sell ApeX Omni live order book, 5 min ago	0.22 bp	5.2 bp −$5	5.2 bp −$52	9.0 bp −$899	37.8 bp −$18.9K

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	−0.0082%	1h	85,242	+0.012%	$2.1M	$10.4M	40x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	85,248	+0.019%	$8K	$3K	50x	as long as short
KuCoin XBTUSDTM	−0.0045%	8h	85,228.7	−0.004%	$927.3M	$773.4M	125x	as long as short
BloFin BTC-USDT	−0.0028%	8h	85,224.2	−0.009%	$421.0M	$681.5M	150x	as long as short
Aster BTCUSDT	−0.0012%	8h	85,229.8	−0.003%	$512.1M	$1.09B	200x	as long as short
dYdX BTC-USD	0.0000%	1h	85,233.1	+0.001%	$16.7M	$21.4M	50x	as long as short
01 Exchange BTCUSD	0.0000%	1h	85,245.3	+0.016%	$352K	$2.4M	50x	as long as short
Perpl BTC	0.0000%	43m	85,254.6	+0.027%	$495K	$18.5M	6.7x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0004% / S −0.0004%	1h	85,241.3	+0.011%	$36.4M	—	200x	as long as short
Nado BTC-PERP	+0.0044%	1h	85,231.4	−0.001%	$24.4M	$222.4M	50x	as long as short

Show all 56 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
ApeX Omni BTCUSDTshort	+0.0055%	1h	85,263.5	+0.037%	$139.4M	$314.4M	100x
Injective BTC/USDC PERP	+0.0057%	1h	85,247	+0.018%	$338K	$26.8M	52x	as long as short
BingX BTC-USDT	+0.0070%	8h	85,233.1	+0.001%	—	$1.56B	—	as long as short
Bitget BTCUSDT	+0.0088%	8h	85,228.9	−0.004%	$2.96B	$5.18B	150x	as long as short
Aevo BTC-PERP	+0.0088%	1h	85,220.5	−0.013%	$2.4M	$6.7M	20x	as long as short
Kraken Futures PF_XBTUSD	+0.0089%	1h	85,242.7	+0.013%	$186.0M	$957.5M	100x	as long as short
Deribit BTC-PERPETUAL	+0.0089%	1h	85,269.5	+0.044%	$862.3M	$1.64B	50x	as long as short
MEXC BTC_USDT	+0.0091%	8h	85,232.2	0.000%	$5.01B	$5.75B	500x	as long as short
Binance BTCUSDT	+0.0091%	8h	85,232	0.000%	$9.42B	$24.95B	150x	as long as short
Lighter BTC	+0.0096%	1h	85,248.5	+0.019%	$169.9M	$1.02B	50x	as long as short
Lighter RH BTC	+0.0096%	1h	85,248.1	+0.019%	$23.5M	$148.0M	50x	as long as short
Popdex BTCUSDTlong	+0.0096%	1h	85,232	long leg	$8.4M	$56.3M	100x
SoDEX BTC-USD	+0.0099%	1h	85,225	−0.008%	$59.6M	$336.9M	40x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	85,210	−0.026%	$237K	$8.7M	50x	as long as short
Paradex BTC-USD-PERP	+0.0100%	8h	85,295.3	+0.074%	$5.8M	$9.6M	50x	as long as short
Hyperliquid BTC	+0.0100%	1h	85,307	+0.088%	$3.74B	$5.08B	40x	as long as short
Pacifica BTC	+0.0100%	1h	85,265	+0.039%	$40.2M	$604.4M	50x	as long as short
Bybit BTCUSDT	+0.0100%	8h	85,233.3	+0.002%	$5.14B	$9.98B	150x	as long as short
OKX BTC-USDT-SWAP	+0.0100%	8h	85,236	+0.005%	$2.59B	$12.24B	100x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	85,226	−0.007%	$3.8M	$17.1M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	85,235.2	+0.004%	$5.2M	$99.1M	40x	as long as short
Bulk BTC-USD	+0.0100%	1h	85,278.8	+0.055%	$682.9M	$449.0M	40x	as long as short
Gate BTC_USDT	+0.0100%	8h	85,236.9	+0.006%	$5.49B	$11.00B	200x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	85,225.9	−0.007%	$36.9M	$179.3M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	85,207.8	−0.028%	$154.6M	$557.8M	—	as long as short
edgeX BTCUSDC	+0.0100%	4h	85,237.8	+0.007%	$279.3M	$950.0M	100x	as long as short
GRVT BTC_USDT_Perp	+0.0100%	8h	85,263.3	+0.037%	$214.1M	$166.1M	50x	as long as short
StandX BTC-USD	+0.0100%	1h	85,220.6	−0.013%	$30.0M	$203.7M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	85,295.2	+0.074%	—	$10.9M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	85,234	+0.002%	$11.0M	$14.6M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	85,238	+0.007%	$202K	$3.3M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	85,236.2	+0.005%	$2.6M	$9.8M	100x	as long as short
Bluefin BTC-PERP	+0.0100%	1h	85,270.2	+0.045%	$193K	$795K	40x	as long as short
Derive BTC-PERP	+0.0100%	1h	85,214.5	−0.020%	$29.9M	$47.0M	15x	as long as short
SunX BTC-USDT	+0.0100%	8h	85,213.2	−0.022%	$2.9M	$6.1M	100x	as long as short
HTX BTC-USDT	+0.0100%	8h	85,230.2	−0.002%	$2.25B	$969.4M	200x	as long as short
Phemex BTCUSDT	+0.0100%	8h	85,244.3	+0.014%	$150.9M	$509.2M	150x	as long as short
Extended BTC-USD	+0.0104%	1h	85,211.3	−0.024%	$44.8M	$240.7M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0048%	1h	85,245.5	+0.016%	—	$107.0M	500x	as long as short
Coinbase International BTC-PERP-INTX	+0.0104%	1h	85,268.2	+0.042%	$117.0M	$5.46B	50x	as long as short
Reya BTCRUSDPERP	+0.0127%	1h	85,222.7	−0.011%	$6.6M	$147.6M	40x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0175% / S −0.0152%	1h	85,243.6	+0.014%	$13.0M	—	200x	as long as short
Kalshi KXBTCPERP	+0.0185%	8h	85,262	+0.035%	$11.7M	$741.8M	6.4x	as long as short
RISEx BTC/USDC	+0.0193%	1h	85,259.9	+0.033%	$8.7M	$42.9M	25x	as long as short
Hibachi BTC/USDT-P	+0.0248%	1h	85,268.6	+0.043%	$684K	$7.9M	30x	as long as short
Aftermath Perps BTCUSD	+0.0268%	1h	85,279.2	+0.055%	$79K	$229K	20x	as long as short