Funding you earn now, next payment 03:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.005%
Price spread now: Katana Perps against Backpack−0.021%7-day average −0.028% · 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)+0.089%+$9 on $10k
+Price spread, last 7 days+0.496%+$50 · spread now −0.021%, 7d avg −0.028%
=| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Backpack BTC_USDC_PERP | 85,581.9 | 0.0100 | pay 0.0013% / 1h | 59m 04s | $34.9M | $168.5M | 75x |
| Short | Katana Perps BTC-USD | 85,564 | 0.0100 | get 0.0100% / 8h | 5h 59m | $203K | $7.6M | 50x |
Backpack BTC_USDC_PERP
Katana Perps BTC-USDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Katana Perps against Backpack. 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
- −$0.04
- Price spread: −0.021% → −0.028%
- $0.75
- Slippage, 4 orders
- no order book: not counted
- Fee Backpack: 5 bp × 2 orders
- −$10
- Fee Katana Perps: 1.9 bp × 2 orders
- −$3.8
- Net
- −$13.09
- Costs to cover
- 0.138%
- Break-even
- never at this rate
Slippage unknown: Backpack: live order book, 5 min ago; 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 Backpack live order book, 5 min ago | 0.01 bp | 5.0 bp −$5 | 5.3 bp −$53 | 6.3 bp −$634 | 156.7 bp −$78.4K |
| Sell Katana Perps no order-book sample | — | — | — | — | — |
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 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 | 85,498 | −0.098% | $2.1M | $10.1M | 40x | as long as short |
| Hotstuff BTC-PERP | −0.0080% | 1h | 85,608 | +0.030% | $8K | $3K | 50x | as long as short |
| 01 Exchange BTCUSD | −0.0064% | 1h | 85,585.7 | +0.004% | $361K | $2.3M | 50x | as long as short |
| Nado BTC-PERP | −0.0033% | 1h | 85,588.3 | +0.007% | $22.6M | $224.8M | 50x | as long as short |
| dYdX BTC-USD | +0.0001% | 1h | 85,585.5 | +0.004% | $16.7M | $21.0M | 50x | as long as short |
| gTrade (Gains Network) BTC/USD | L +0.0004% / S −0.0004% | 1h | 85,599.5 | +0.021% | $36.7M | — | 200x | as long as short |
| Aster BTCUSDT | +0.0021% | 8h | 85,574.9 | −0.008% | $515.9M | $1.12B | 200x | as long as short |
| KuCoin XBTUSDTM | +0.0023% | 8h | 85,571.6 | −0.012% | $902.1M | $748.3M | 125x | as long as short |
| SoDEX BTC-USD | +0.0053% | 1h | 85,586 | +0.005% | $59.9M | $336.4M | 40x | as long as short |
| BingX BTC-USDT | +0.0055% | 8h | 85,586.9 | +0.006% | — | $1.55B | — | as long as short |
Phoenix BTC
Hotstuff BTC-PERP
01 Exchange BTCUSD
Nado BTC-PERP
dYdX BTC-USD
gTrade (Gains Network) BTC/USD
Aster BTCUSDT
KuCoin XBTUSDTM
SoDEX BTC-USD
BingX BTC-USDTShow all 55 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| HTX BTC-USDT | +0.0056% | 8h | 85,585.8 | +0.005% | $2.27B | $932.8M | 200x | as long as short |
| Reya BTCRUSDPERP | +0.0063% | 1h | 85,578.1 | −0.004% | $6.7M | $146.4M | 40x | as long as short |
| Bitget BTCUSDT | +0.0068% | 8h | 85,575.7 | −0.007% | $2.95B | $5.02B | 150x | as long as short |
| SunX BTC-USDT | +0.0077% | 8h | 85,568.6 | −0.016% | $2.9M | $6.5M | 100x | as long as short |
| Injective BTC/USDC PERP | +0.0079% | 1h | 85,617 | +0.041% | $340K | $26.9M | 52x | as long as short |
| Aevo BTC-PERP | +0.0080% | 1h | 85,580.2 | −0.002% | $2.5M | $1.7M | 20x | as long as short |
| Binance BTCUSDT | +0.0085% | 8h | 85,586.3 | +0.005% | $9.34B | $23.92B | 150x | as long as short |
| MEXC BTC_USDT | +0.0086% | 8h | 85,584.3 | +0.003% | $5.07B | $5.56B | 500x | as long as short |
| Lighter BTC | +0.0096% | 1h | 85,590.8 | +0.010% | $170.3M | $980.2M | 50x | as long as short |
| Lighter RH BTC | +0.0096% | 1h | 85,595.3 | +0.016% | $23.9M | $146.7M | 50x | as long as short |
| Popdex BTCUSDT | +0.0096% | 1h | 85,584 | +0.002% | $8.4M | $51.5M | 100x | as long as short |
| Paradex BTC-USD-PERP | +0.0099% | 8h | 85,635 | +0.062% | $3.8M | $8.3M | 50x | as long as short |
| Katana Perps BTC-USDshort | +0.0100% | 8h | 85,564 | −0.021% | $203K | $7.6M | 50x | |
| Hyperliquid BTC | +0.0100% | 1h | 85,647 | +0.076% | $3.76B | $4.92B | 40x | as long as short |
| Pacifica BTC | +0.0100% | 1h | 85,626.6 | +0.052% | $40.1M | $571.6M | 50x | as long as short |
| Bybit BTCUSDT | +0.0100% | 8h | 85,589.1 | +0.008% | $5.33B | $9.61B | 150x | as long as short |
| OKX BTC-USDT-SWAP | +0.0100% | 8h | 85,587.4 | +0.006% | $2.56B | $12.13B | 100x | as long as short |
| Ondo Perps BTC-USD.P | +0.0100% | 1h | 85,530 | −0.061% | $3.9M | $17.9M | 25x | as long as short |
| Arcus BTC-USD | +0.0100% | 1h | 85,561.5 | −0.024% | $7.1M | $96.4M | 40x | as long as short |
| Gate BTC_USDT | +0.0100% | 8h | 85,591.5 | +0.011% | $5.58B | $10.37B | 200x | as long as short |
| Backpack BTC_USDC_PERPlong | +0.0100% | 1h | 85,581.9 | long leg | $34.9M | $168.5M | 75x | |
| Variational Omni BTC | +0.0100% | 8h | 85,545 | −0.043% | $154.0M | $554.0M | — | as long as short |
| edgeX BTCUSDC | +0.0100% | 4h | 85,553.1 | −0.034% | $278.3M | $939.9M | 100x | as long as short |
| GRVT BTC_USDT_Perp | +0.0100% | 8h | 85,624 | +0.049% | $214.9M | $162.9M | 50x | as long as short |
| ApeX Omni BTCUSDT | +0.0100% | 1h | 85,552.6 | −0.034% | $139.9M | $316.3M | 100x | as long as short |
| StandX BTC-USD | +0.0100% | 1h | 85,571.8 | −0.012% | $30.2M | $211.0M | 40x | as long as short |
| Vest BTC-PERP | +0.0100% | 1h | 85,628.4 | +0.054% | — | $11.8M | 50x | as long as short |
| Polymarket Perps BTC-USD | +0.0100% | 1h | 85,582 | 0.000% | $11.0M | $14.1M | 50x | as long as short |
| Bullet BTC-USD | +0.0100% | 1h | 85,591 | +0.011% | $187K | $3.3M | 20x | as long as short |
| Orderly PERP_BTC_USDC | +0.0100% | 8h | 85,585.8 | +0.005% | $2.4M | $8.9M | 100x | as long as short |
| Bluefin BTC-PERP | +0.0100% | 1h | 85,630.3 | +0.057% | $197K | $722K | 40x | as long as short |
| Derive BTC-PERP | +0.0100% | 1h | 85,586.8 | +0.006% | $30.0M | $52.7M | 15x | as long as short |
| Phemex BTCUSDT | +0.0100% | 8h | 85,585.7 | +0.004% | $150.0M | $479.7M | 150x | as long as short |
| Bulk BTC-USD | +0.0100% | 1h | 85,593.2 | +0.013% | $605.0M | $283.5M | 40x | as long as short |
| Extended BTC-USD | +0.0104% | 1h | 85,565.8 | −0.019% | $44.1M | $227.7M | 50x | as long as short |
| Jupiter Perps WBTC-PERP | L +0.0104% / S +0.0056% | 1h | 85,527.7 | −0.063% | — | $101.7M | 500x | as long as short |
| Coinbase International BTC-PERP-INTX | +0.0112% | 1h | 85,629.3 | +0.055% | $130.5M | $5.08B | 50x | as long as short |
| RISEx BTC/USDC | +0.0120% | 1h | 85,613.7 | +0.037% | $8.4M | $42.2M | 25x | as long as short |
| Kraken Futures PF_XBTUSD | +0.0138% | 1h | 85,610 | +0.033% | $187.1M | $951.6M | 100x | as long as short |
| Aftermath Perps BTCUSD | +0.0186% | 1h | 85,619.9 | +0.044% | $78K | $219K | 20x | as long as short |
| Hibachi BTC/USDT-P | +0.0192% | 1h | 85,552.1 | −0.035% | $682K | $7.8M | 30x | as long as short |
| Deribit BTC-PERPETUAL | +0.0196% | 1h | 85,637.1 | +0.064% | $894.8M | $1.52B | 50x | as long as short |
| GMX BTC/USD [WBTC.b-USDC] | L +0.0203% / S −0.0186% | 1h | 85,596.9 | +0.018% | $13.5M | — | 200x | as long as short |
| Kalshi KXBTCPERP | +0.0212% | 8h | 85,617 | +0.041% | $10.3M | $765.0M | 6.4x | as long as short |
| Perpl BTC | +0.0447% | 43m | 85,585.2 | +0.004% | $510K | $19.7M | 6.7x | as long as short |
HTX BTC-USDT
Reya BTCRUSDPERP
Bitget BTCUSDT
SunX BTC-USDT
Injective BTC/USDC PERP
Aevo BTC-PERP
Binance BTCUSDT
MEXC BTC_USDT
Lighter BTC
Lighter RH BTC
Popdex BTCUSDT
Paradex BTC-USD-PERP
Hyperliquid BTC
Pacifica BTC
Bybit BTCUSDT
OKX BTC-USDT-SWAP
Ondo Perps BTC-USD.P
Arcus BTC-USD
Gate BTC_USDT
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
Phemex BTCUSDT
Bulk BTC-USD
Extended BTC-USD
Jupiter Perps WBTC-PERP
Coinbase International BTC-PERP-INTX
RISEx BTC/USDC
Kraken Futures PF_XBTUSD
Aftermath Perps BTCUSD
Hibachi BTC/USDT-P
Deribit BTC-PERPETUAL
GMX BTC/USD [WBTC.b-USDC]
Kalshi KXBTCPERP
Perpl BTC