BTC

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0052%/8h= −5.7% APRnext payment −$0.06 per $10,000 · paid last 24h −0.004%

Price spread now: RISEx against Popdex+0.028%7-day average +0.004% · 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−$11as in the Price arb table

costs, in and out, $10k−$140.138% of the position

Long on Popdex Short on RISEx

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.009%−$1 on $10k

Price spread, last 7 days−0.001%$0 · spread now +0.028%, 7d avg +0.004%

Together, before fees−0.010%−$1 on $10k · with fees, hour by hour

The price spread pays, funding is against you. RISEx is 0.024% dearer against Popdex than usual: you sell high and buy low (spread +0.028% now, against its 7-day average of +0.004%): +$2 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 37 hours. At the pace of the last 3 days (−0.009% in total) that is about 9.2 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Popdex BTCUSDT	85,627	0.0096	pay 0.0012% / 1h	2m 57s	$8.4M	$51.7M	100x
Short	RISEx BTC/USDC	85,651.3	0.0044	get 0.0006% / 1h	2m 57s	$8.4M	$42.2M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

RISEx 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 RISExbpOrdersPrice spread, now +0.028%Rate

Funding earned: −$10.9
Price spread: +0.028% → +0.004%: $2.42
Slippage, 4 orders: −$1.45
Fee Popdex: 3.2 bp × 2 orders: −$6.4
Fee RISEx: 3 bp × 2 orders: −$6
Net: −$22.33
Costs to cover: 0.138%
Break-even: never at this rate

Slippage from Popdex: live order book, 1 min ago; RISEx: 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	0.17 bp	3.4 bp −$3	3.4 bp −$34	3.8 bp −$383	5.3 bp −$2,630
Sell RISEx live order book, 1 min ago	0.01 bp	3.0 bp −$3	3.0 bp −$30	9.8 bp −$980	doesn't fit

BTC on 55 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	−0.0144%	1h	85,616	−0.013%	$2.1M	$10.5M	40x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	85,647	+0.023%	$8K	$3K	50x	as long as short
01 Exchange BTCUSD	−0.0064%	1h	85,633.2	+0.007%	$362K	$2.3M	50x	as long as short
dYdX BTC-USD	+0.0002%	1h	85,643.5	+0.019%	$16.8M	$21.0M	50x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0004% / S −0.0004%	1h	85,636.5	+0.011%	$36.7M	—	200x	as long as short
Injective BTC/USDC PERP	+0.0020%	1h	85,661	+0.040%	$340K	$26.9M	52x	as long as short
Aster BTCUSDT	+0.0024%	8h	85,590.5	−0.043%	$516.1M	$1.12B	200x	as long as short
KuCoin XBTUSDTM	+0.0025%	8h	85,572.6	−0.063%	$901.8M	$748.9M	125x	as long as short
Nado BTC-PERP	+0.0031%	1h	85,638.8	+0.014%	$22.6M	$225.6M	50x	as long as short
RISEx BTC/USDCshort	+0.0044%	1h	85,651.3	+0.028%	$8.4M	$42.2M	25x

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX BTC-USDT	+0.0055%	8h	85,610.9	−0.019%	—	$1.55B	—	as long as short
HTX BTC-USDT	+0.0059%	8h	85,627.2	0.000%	$2.27B	$934.3M	200x	as long as short
Reya BTCRUSDPERP	+0.0062%	1h	85,611.3	−0.018%	$6.7M	$146.3M	40x	as long as short
Bitget BTCUSDT	+0.0069%	8h	85,591.8	−0.041%	$2.94B	$5.04B	150x	as long as short
Aevo BTC-PERP	+0.0080%	1h	85,626.5	−0.001%	$2.5M	$1.7M	20x	as long as short
SunX BTC-USDT	+0.0081%	8h	85,609.7	−0.020%	$2.9M	$6.6M	100x	as long as short
MEXC BTC_USDT	+0.0085%	8h	85,600	−0.032%	$5.07B	$5.76B	500x	as long as short
Binance BTCUSDT	+0.0087%	8h	85,608.6	−0.021%	$9.33B	$23.99B	150x	as long as short
Lighter BTC	+0.0096%	1h	85,630.7	+0.004%	$170.5M	$996.7M	50x	as long as short
Lighter RH BTC	+0.0096%	1h	85,629.2	+0.003%	$23.9M	$148.9M	50x	as long as short
Popdex BTCUSDTlong	+0.0096%	1h	85,627	long leg	$8.4M	$51.7M	100x
ApeX Omni BTCUSDT	+0.0097%	1h	85,611.5	−0.018%	$140.0M	$317.0M	100x	as long as short
Paradex BTC-USD-PERP	+0.0099%	8h	85,684.7	+0.067%	$3.8M	$8.3M	50x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	85,601	−0.030%	$206K	$7.6M	50x	as long as short
Hyperliquid BTC	+0.0100%	1h	85,669	+0.049%	$3.76B	$4.92B	40x	as long as short
Pacifica BTC	+0.0100%	1h	85,661.2	+0.040%	$40.2M	$569.5M	50x	as long as short
Bybit BTCUSDT	+0.0100%	8h	85,614.6	−0.014%	$5.33B	$9.63B	150x	as long as short
OKX BTC-USDT-SWAP	+0.0100%	8h	85,605	−0.026%	$2.56B	$12.18B	100x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	85,623	−0.005%	$3.9M	$17.9M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	85,596	−0.036%	$7.2M	$96.4M	40x	as long as short
Gate BTC_USDT	+0.0100%	8h	85,607.4	−0.023%	$5.58B	$10.61B	200x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	85,584.9	−0.049%	$35.0M	$167.9M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	85,602.8	−0.028%	$154.0M	$555.5M	—	as long as short
edgeX BTCUSDC	+0.0100%	4h	85,588.5	−0.045%	$278.4M	$938.6M	100x	as long as short
GRVT BTC_USDT_Perp	+0.0100%	8h	85,608.4	−0.022%	$214.9M	$162.9M	50x	as long as short
StandX BTC-USD	+0.0100%	1h	85,627.7	+0.001%	$30.3M	$210.3M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	85,678.2	+0.060%	—	$11.8M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	85,618	−0.011%	$11.0M	$14.1M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	85,620	−0.008%	$188K	$3.3M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	85,633.7	+0.008%	$2.4M	$8.9M	100x	as long as short
Bluefin BTC-PERP	+0.0100%	1h	85,671.9	+0.052%	$197K	$722K	40x	as long as short
Derive BTC-PERP	+0.0100%	1h	85,634.2	+0.008%	$30.0M	$56.1M	15x	as long as short
SoDEX BTC-USD	+0.0100%	1h	85,638	+0.013%	$60.0M	$336.5M	40x	as long as short
Phemex BTCUSDT	+0.0100%	8h	85,595.1	−0.037%	$150.7M	$480.1M	150x	as long as short
Bulk BTC-USD	+0.0100%	1h	85,593.2	−0.039%	$605.0M	$283.5M	40x	as long as short
Extended BTC-USD	+0.0104%	1h	85,576.1	−0.060%	$44.1M	$227.9M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0056%	1h	85,632.2	+0.006%	—	$101.7M	500x	as long as short
Coinbase International BTC-PERP-INTX	+0.0112%	1h	85,667	+0.047%	$130.8M	$5.09B	50x	as long as short
Kraken Futures PF_XBTUSD	+0.0146%	1h	85,653.9	+0.031%	$187.1M	$952.9M	100x	as long as short
Hibachi BTC/USDT-P	+0.0176%	1h	85,669.3	+0.049%	$682K	$7.8M	30x	as long as short
Aftermath Perps BTCUSD	+0.0181%	1h	85,648.7	+0.025%	$78K	$219K	20x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0203% / S −0.0186%	1h	85,627.8	+0.001%	$13.6M	—	200x	as long as short
Kalshi KXBTCPERP	+0.0212%	8h	85,650	+0.027%	$10.2M	$765.4M	6.4x	as long as short
Deribit BTC-PERPETUAL	+0.0257%	1h	85,688.7	+0.072%	$895.0M	$1.52B	50x	as long as short
Perpl BTC	+0.0447%	43m	85,651.5	+0.029%	$512K	$19.9M	6.7x	as long as short