Funding you earn now, next payment 00:00 UTC+0.0003%/8h= +0.3% APRpaid last 24h +0.002%
Price spread now: Bybit against Popdex−0.023%7-day average −0.003% · you buy dearer than you sell
Net, funding: paid 7d − costs—under 7 days of funding history
Net, price: spread back to 7d avg − costs−$20as in the Price arb table
costs, in and out, $10k−$180.181% of the position
Funding, last 3 days (all we have)−0.009%−$1 on $10k
+Price spread, last 7 days+0.015%+$1 · spread now −0.023%, 7d avg −0.003%
=| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Popdex BTCUSDT | 86,450 | 0.0096 | pay 0.0012% / 1h | 57m 52s | $8.5M | $52.4M | 100x |
| Short | Bybit BTCUSDT | 86,429.8 | 0.0099 | get 0.0099% / 8h | 57m 52s | $5.26B | $9.81B | 150x |
Popdex BTCUSDT
Bybit BTCUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Bybit against Popdex. 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
- $0.65
- Price spread: −0.023% → −0.003%
- −$2
- Slippage, 4 orders
- −$0.67
- Fee Popdex: 3.2 bp × 2 orders
- −$6.4
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Net
- −$19.42
- Costs to cover
- 0.181%
- Break-even
- 217.1 days
Slippage from Popdex: live order book, 1 min ago; Bybit: live order book, 1 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, 1 min ago | 0.29 bp | 3.5 bp −$3 | 3.5 bp −$35 | 4.0 bp −$396 | 5.5 bp −$2,740 |
| Sell Bybit live order book, 1 min ago | 0.01 bp | 5.5 bp −$6 | 5.6 bp −$56 | 6.4 bp −$639 | 7.7 bp −$3,834 |
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 | −0.0159% | 1h | 86,352 | −0.113% | $2.2M | $11.7M | 40x | as long as short |
| Hotstuff BTC-PERP | −0.0080% | 1h | 86,416 | −0.039% | $9K | $3K | 50x | as long as short |
| Injective BTC/USDC PERP | −0.0035% | 1h | 86,424 | −0.030% | $332K | $26.8M | 52x | as long as short |
| RISEx BTC/USDC | −0.0024% | 1h | 86,447.7 | −0.003% | $8.4M | $42.8M | 25x | as long as short |
| Aster BTCUSDT | −0.0007% | 8h | 86,435.6 | −0.017% | $503.3M | $1.15B | 200x | as long as short |
| 01 Exchange BTCUSD | 0.0000% | 1h | 86,461.2 | +0.013% | $357K | $2.5M | 50x | as long as short |
| gTrade (Gains Network) BTC/USD | L +0.0005% / S −0.0004% | 1h | 86,444.8 | −0.006% | $36.8M | — | 200x | as long as short |
| KuCoin XBTUSDTM | +0.0008% | 8h | 86,442.1 | −0.009% | $849.6M | $713.6M | 125x | as long as short |
| Deribit BTC-PERPETUAL | +0.0022% | 1h | 86,450.9 | +0.001% | $916.9M | $1.49B | 50x | as long as short |
| Reya BTCRUSDPERP | +0.0024% | 1h | 86,439.8 | −0.012% | $6.7M | $145.1M | 40x | as long as short |
Phoenix BTC
Hotstuff BTC-PERP
Injective BTC/USDC PERP
RISEx BTC/USDC
Aster BTCUSDT
01 Exchange BTCUSD
gTrade (Gains Network) BTC/USD
KuCoin XBTUSDTM
Deribit BTC-PERPETUAL
Reya BTCRUSDPERPShow all 56 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| BingX BTC-USDT | +0.0040% | 8h | 86,432 | −0.021% | — | $1.59B | — | as long as short |
| Phemex BTCUSDT | +0.0042% | 8h | 86,423 | −0.031% | $149.7M | $477.6M | 150x | as long as short |
| Bitget BTCUSDT | +0.0050% | 8h | 86,426.7 | −0.027% | $2.95B | $5.12B | 150x | as long as short |
| Aevo BTC-PERP | +0.0064% | 1h | 86,409.7 | −0.047% | $2.4M | $1.3M | 20x | as long as short |
| MEXC BTC_USDT | +0.0067% | 8h | 86,437.7 | −0.014% | $5.12B | $5.61B | 500x | as long as short |
| Binance BTCUSDT | +0.0068% | 8h | 86,433 | −0.020% | $9.42B | $24.51B | 150x | as long as short |
| Aftermath Perps BTCUSD | +0.0079% | 1h | 86,412.1 | −0.044% | $79K | $220K | 20x | as long as short |
| Gate BTC_USDT | +0.0082% | 8h | 86,431.4 | −0.022% | $5.84B | $10.68B | 200x | as long as short |
| Lighter BTC | +0.0096% | 1h | 86,440.5 | −0.011% | $170.3M | $1.01B | 50x | as long as short |
| Lighter RH BTC | +0.0096% | 1h | 86,438.1 | −0.014% | $24.0M | $151.1M | 50x | as long as short |
| Popdex BTCUSDTlong | +0.0096% | 1h | 86,450 | long leg | $8.5M | $52.4M | 100x | |
| dYdX BTC-USD | +0.0098% | 1h | 86,400.8 | −0.057% | $17.0M | $21.1M | 50x | as long as short |
| Bybit BTCUSDTshort | +0.0099% | 8h | 86,429.8 | −0.023% | $5.26B | $9.81B | 150x | |
| Katana Perps BTC-USD | +0.0100% | 8h | 86,425 | −0.029% | $203K | $6.9M | 50x | as long as short |
| Paradex BTC-USD-PERP | +0.0100% | 8h | 86,483.4 | +0.039% | $4.8M | $8.5M | 50x | as long as short |
| Nado BTC-PERP | +0.0100% | 1h | 86,420 | −0.035% | $21.8M | $234.5M | 50x | as long as short |
| Hyperliquid BTC | +0.0100% | 1h | 86,499 | +0.057% | $3.79B | $5.10B | 40x | as long as short |
| Pacifica BTC | +0.0100% | 1h | 86,461.9 | +0.014% | $41.1M | $521.5M | 50x | as long as short |
| OKX BTC-USDT-SWAP | +0.0100% | 8h | 86,431.3 | −0.022% | $2.54B | $12.71B | 100x | as long as short |
| Ondo Perps BTC-USD.P | +0.0100% | 1h | 86,446 | −0.005% | $3.9M | $18.6M | 25x | as long as short |
| Arcus BTC-USD | +0.0100% | 1h | 86,476 | +0.030% | $7.6M | $94.7M | 40x | as long as short |
| Bulk BTC-USD | +0.0100% | 1h | 86,382.9 | −0.078% | $571.1M | $18.1M | 40x | as long as short |
| Backpack BTC_USDC_PERP | +0.0100% | 1h | 86,424.2 | −0.030% | $37.8M | $154.7M | 75x | as long as short |
| Variational Omni BTC | +0.0100% | 8h | 86,337.9 | −0.130% | $155.6M | $568.2M | — | as long as short |
| edgeX BTCUSDC | +0.0100% | 4h | 86,361.4 | −0.102% | $279.1M | $946.0M | 100x | as long as short |
| GRVT BTC_USDT_Perp | +0.0100% | 8h | 86,348.3 | −0.118% | $216.7M | $173.5M | 50x | as long as short |
| ApeX Omni BTCUSDT | +0.0100% | 1h | 86,372.8 | −0.089% | $141.2M | $323.4M | 100x | as long as short |
| StandX BTC-USD | +0.0100% | 1h | 86,396.8 | −0.062% | $30.7M | $204.3M | 40x | as long as short |
| Vest BTC-PERP | +0.0100% | 1h | 86,484.2 | +0.040% | — | $11.7M | 50x | as long as short |
| Polymarket Perps BTC-USD | +0.0100% | 1h | 86,448 | −0.002% | $11.1M | $13.8M | 50x | as long as short |
| Bullet BTC-USD | +0.0100% | 1h | 86,429 | −0.024% | $190K | $3.3M | 20x | as long as short |
| Orderly PERP_BTC_USDC | +0.0100% | 8h | 86,428.5 | −0.025% | $2.4M | $8.7M | 100x | as long as short |
| Bluefin BTC-PERP | +0.0100% | 1h | 86,453.1 | +0.004% | $140K | $663K | 40x | as long as short |
| Derive BTC-PERP | +0.0100% | 1h | 86,454 | +0.005% | $30.6M | $62.2M | 15x | as long as short |
| SunX BTC-USDT | +0.0100% | 8h | 86,419.1 | −0.036% | $3.4M | $5.4M | 100x | as long as short |
| SoDEX BTC-USD | +0.0100% | 1h | 86,414 | −0.042% | $60.4M | $337.5M | 40x | as long as short |
| HTX BTC-USDT | +0.0100% | 8h | 86,405.6 | −0.051% | $2.29B | $969.2M | 200x | as long as short |
| Extended BTC-USD | +0.0104% | 1h | 86,423.2 | −0.031% | $45.4M | $226.7M | 50x | as long as short |
| Jupiter Perps WBTC-PERP | L +0.0104% / S +0.0048% | 1h | 86,460.7 | +0.012% | — | $99.0M | 500x | as long as short |
| Kraken Futures PF_XBTUSD | +0.0110% | 1h | 86,438.8 | −0.013% | $192.1M | $947.6M | 100x | as long as short |
| Perpl BTC | +0.0112% | 43m | 86,453.9 | +0.005% | $418K | $23.4M | 6.7x | as long as short |
| Coinbase International BTC-PERP-INTX | +0.0112% | 1h | 86,452.9 | +0.003% | $132.1M | $5.68B | 50x | as long as short |
| Hibachi BTC/USDT-P | +0.0160% | 1h | 86,437.8 | −0.014% | $718K | $8.1M | 30x | as long as short |
| BloFin BTC-USDT | +0.0188% | 8h | 86,418.8 | −0.036% | $414.8M | $654.9M | 150x | as long as short |
| GMX BTC/USD [WBTC.b-USDC] | L +0.0189% / S −0.0213% | 1h | 86,438.9 | −0.013% | $15.1M | — | 200x | as long as short |
| Kalshi KXBTCPERP | +0.0201% | 8h | 86,457 | +0.008% | $9.7M | $737.7M | 6.4x | as long as short |
BingX BTC-USDT
Phemex BTCUSDT
Bitget BTCUSDT
Aevo BTC-PERP
MEXC BTC_USDT
Binance BTCUSDT
Aftermath Perps BTCUSD
Gate BTC_USDT
Lighter BTC
Lighter RH BTC
dYdX BTC-USD
Katana Perps BTC-USD
Paradex BTC-USD-PERP
Nado BTC-PERP
Hyperliquid BTC
Pacifica BTC
OKX BTC-USDT-SWAP
Ondo Perps BTC-USD.P
Arcus BTC-USD
Bulk BTC-USD
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
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
Perpl BTC
Coinbase International BTC-PERP-INTX
Hibachi BTC/USDT-P
BloFin BTC-USDT
GMX BTC/USD [WBTC.b-USDC]
Kalshi KXBTCPERP