BTC

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0161%/8h= −17.6% APRnext payment −$0.20 per $10,000 · paid last 24h +0.002%

Price spread now: Popdex against RISEx−0.023%7-day average −0.005% · 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−$16as in the Price arb table

costs, in and out, $10k−$150.145% of the position

Long on RISEx Short on Popdex

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.007%+$1 on $10k

Price spread, last 7 days−0.008%−$1 · spread now −0.023%, 7d avg −0.005%

Together, before fees0.000%$0 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.005%, so right now this pair is about funding alone: −$5 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	RISEx BTC/USDC	85,527.3	0.0257	pay 0.0032% / 1h	12m 08s	$8.7M	$43.2M	25x
Short	Popdex BTCUSDT	85,508	0.0096	get 0.0012% / 1h	12m 08s	$8.3M	$55.8M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Popdex against RISEx. 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 RISExbpFee PopdexbpOrdersPrice spread, now −0.023%Rate

Funding earned: −$33.79
Price spread: −0.023% → −0.005%: −$1.81
Slippage, 4 orders: −$2.1
Fee RISEx: 3 bp × 2 orders: −$6
Fee Popdex: 3.2 bp × 2 orders: −$6.4
Net: −$50.1
Costs to cover: 0.145%
Break-even: never at this rate

Slippage from RISEx: live order book, 2 min ago; Popdex: live order book, 2 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 RISEx live order book, 2 min ago	0.01 bp	4.8 bp −$5	5.1 bp −$51	12.2 bp −$1,221	doesn't fit
Sell Popdex live order book, 2 min ago	0.06 bp	3.4 bp −$3	3.4 bp −$34	3.5 bp −$348	5.0 bp −$2,511

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
Perpl BTC	−0.0112%	43m	85,507.6	−0.023%	$526K	$18.3M	6.7x	as long as short
Phoenix BTC	−0.0111%	1h	85,391	−0.159%	$2.1M	$10.4M	40x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	85,453	−0.087%	$8K	$3K	50x	as long as short
KuCoin XBTUSDTM	−0.0053%	8h	85,500.1	−0.032%	$928.7M	$767.4M	125x	as long as short
BloFin BTC-USDT	−0.0028%	8h	85,488.1	−0.046%	$419.5M	$683.0M	150x	as long as short
Aster BTCUSDT	−0.0009%	8h	85,510	−0.020%	$514.3M	$1.09B	200x	as long as short
01 Exchange BTCUSD	−0.0008%	1h	85,516.5	−0.013%	$355K	$2.4M	50x	as long as short
dYdX BTC-USD	+0.0002%	1h	85,495.5	−0.037%	$16.8M	$21.4M	50x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0004% / S −0.0004%	1h	85,521.7	−0.007%	$36.5M	—	200x	as long as short
Injective BTC/USDC PERP	+0.0023%	1h	85,349	−0.208%	$339K	$26.8M	52x	as long as short

Show all 56 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado BTC-PERP	+0.0042%	1h	85,499.9	−0.032%	$24.8M	$222.4M	50x	as long as short
Kraken Futures PF_XBTUSD	+0.0056%	1h	85,531.5	+0.005%	$187.6M	$953.6M	100x	as long as short
BingX BTC-USDT	+0.0069%	8h	85,524.2	−0.004%	—	$1.56B	—	as long as short
Phemex BTCUSDT	+0.0074%	8h	85,505	−0.026%	$148.2M	$505.9M	150x	as long as short
Bitget BTCUSDT	+0.0086%	8h	85,521.4	−0.007%	$2.95B	$5.17B	150x	as long as short
MEXC BTC_USDT	+0.0092%	8h	85,524	−0.004%	$5.00B	$5.75B	500x	as long as short
Binance BTCUSDT	+0.0094%	8h	85,524.9	−0.003%	$9.46B	$24.89B	150x	as long as short
Lighter BTC	+0.0096%	1h	85,528	+0.001%	$171.5M	$1.03B	50x	as long as short
Lighter RH BTC	+0.0096%	1h	85,533.2	+0.007%	$23.8M	$149.0M	50x	as long as short
Popdex BTCUSDTshort	+0.0096%	1h	85,508	−0.023%	$8.3M	$55.8M	100x
Aevo BTC-PERP	+0.0096%	1h	85,511.4	−0.019%	$2.4M	$6.7M	20x	as long as short
Coinbase International BTC-PERP-INTX	+0.0096%	1h	85,551.9	+0.029%	$117.1M	$5.43B	50x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	85,479	−0.056%	$238K	$8.6M	50x	as long as short
Paradex BTC-USD-PERP	+0.0100%	8h	85,552.2	+0.029%	$5.8M	$9.6M	50x	as long as short
Hyperliquid BTC	+0.0100%	1h	85,591	+0.074%	$3.76B	$5.08B	40x	as long as short
Pacifica BTC	+0.0100%	1h	85,529.4	+0.002%	$40.1M	$597.7M	50x	as long as short
Bybit BTCUSDT	+0.0100%	8h	85,517.2	−0.012%	$5.16B	$9.95B	150x	as long as short
OKX BTC-USDT-SWAP	+0.0100%	8h	85,537.5	+0.012%	$2.59B	$12.24B	100x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	85,511	−0.019%	$3.8M	$17.5M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	85,506.7	−0.024%	$4.6M	$98.8M	40x	as long as short
Bulk BTC-USD	+0.0100%	1h	85,501.7	−0.030%	$682.6M	$531.9M	40x	as long as short
Gate BTC_USDT	+0.0100%	8h	85,505.7	−0.025%	$5.50B	$11.05B	200x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	85,516.4	−0.013%	$36.5M	$176.9M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	85,365.9	−0.189%	$154.5M	$559.9M	—	as long as short
edgeX BTCUSDC	+0.0100%	4h	85,376.5	−0.176%	$279.7M	$951.2M	100x	as long as short
GRVT BTC_USDT_Perp	+0.0100%	8h	85,394.8	−0.155%	$214.5M	$167.1M	50x	as long as short
ApeX Omni BTCUSDT	+0.0100%	1h	85,392.6	−0.158%	$139.6M	$314.7M	100x	as long as short
StandX BTC-USD	+0.0100%	1h	85,415.7	−0.130%	$30.1M	$208.0M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	85,567.2	+0.047%	—	$10.9M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	85,503	−0.028%	$11.0M	$14.4M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	85,517.9	−0.011%	$204K	$3.3M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	85,518.7	−0.010%	$2.6M	$9.7M	100x	as long as short
Bluefin BTC-PERP	+0.0100%	1h	85,565.6	+0.045%	$228K	$760K	40x	as long as short
Derive BTC-PERP	+0.0100%	1h	85,492	−0.041%	$30.0M	$48.0M	15x	as long as short
SunX BTC-USDT	+0.0100%	8h	85,469.5	−0.068%	$2.9M	$6.1M	100x	as long as short
SoDEX BTC-USD	+0.0100%	1h	85,520	−0.009%	$59.9M	$336.2M	40x	as long as short
HTX BTC-USDT	+0.0100%	8h	85,499.9	−0.032%	$2.26B	$941.7M	200x	as long as short
Extended BTC-USD	+0.0104%	1h	85,480.6	−0.055%	$44.4M	$240.7M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0048%	1h	85,522.4	−0.006%	—	$106.9M	500x	as long as short
Deribit BTC-PERPETUAL	+0.0109%	1h	85,553.1	+0.030%	$867.0M	$1.61B	50x	as long as short
Reya BTCRUSDPERP	+0.0118%	1h	85,509.7	−0.021%	$6.6M	$147.5M	40x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0176% / S −0.0151%	1h	85,516.3	−0.013%	$13.0M	—	200x	as long as short
Kalshi KXBTCPERP	+0.0203%	8h	85,529	+0.002%	$11.6M	$742.9M	6.4x	as long as short
Aftermath Perps BTCUSD	+0.0216%	1h	85,403	−0.145%	$79K	$227K	20x	as long as short
Hibachi BTC/USDT-P	+0.0232%	1h	85,468.7	−0.069%	$689K	$8.0M	30x	as long as short
RISEx BTC/USDClong	+0.0257%	1h	85,527.3	long leg	$8.7M	$43.2M	25x