BTC

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0123%/8h= +13.4% APRnext payment +$1.23 per $10,000 · paid last 24h +0.033%

Price spread now: Katana Perps against BloFin−0.047%7-day average −0.010% · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on BloFin Short on Katana Perps

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.095%+$10 on $10k

Price spread, last 4 days (all we have)+0.075%+$7 · spread now −0.047%, 7d avg −0.010%

Together, before fees+0.170%+$17 on $10k · with fees, hour by hour

Funding pays, the price is against you. Katana Perps is 0.037% cheaper against BloFin than usual: you would sell low and buy high (spread −0.047% now, against its 7-day average of −0.010%). If the spread goes back, that is −$4 on $10k: about 24 hours of funding at the current rate (+$4 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin BTC-USDT	85,517.3	−0.0023	get 0.0023% / 8h	2h 04m	$417.9M	$684.0M	150x
Short	Katana Perps BTC-USD	85,477	0.0100	get 0.0100% / 8h	2h 04m	$236K	$8.6M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Katana Perps against BloFin. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 BloFinbpFee Katana PerpsbpOrdersPrice spread, now −0.047%Rate

Funding earned: $25.73
Price spread: −0.047% → −0.010%: −$3.68
Slippage, 4 orders: no order book: not counted
Fee BloFin: 6 bp × 2 orders: −$12
Fee Katana Perps: 1.9 bp × 2 orders: −$3.8
Net: $6.25
Costs to cover: 0.158%
Break-even: 5.3 days

Slippage unknown: BloFin: 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 BloFin live order book, 5 min ago	0.01 bp	6.0 bp −$6	6.0 bp −$60	6.1 bp −$607	7.1 bp −$3,545
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 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	85,508.2	−0.011%	$528K	$18.3M	6.7x	as long as short
Phoenix BTC	−0.0111%	1h	85,577	+0.070%	$2.1M	$10.4M	40x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	85,524	+0.008%	$8K	$3K	50x	as long as short
KuCoin XBTUSDTM	−0.0051%	8h	85,488.6	−0.034%	$929.0M	$771.9M	125x	as long as short
BloFin BTC-USDTlong	−0.0023%	8h	85,517.3	long leg	$417.9M	$684.0M	150x
Aster BTCUSDT	−0.0007%	8h	85,486.3	−0.036%	$514.1M	$1.09B	200x	as long as short
01 Exchange BTCUSD	0.0000%	1h	85,514.2	−0.004%	$354K	$2.4M	50x	as long as short
dYdX BTC-USD	+0.0002%	1h	85,535.9	+0.022%	$16.8M	$21.4M	50x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0004% / S −0.0004%	1h	85,515.3	−0.002%	$36.5M	—	200x	as long as short
Injective BTC/USDC PERP	+0.0023%	1h	85,349	−0.197%	$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
Deribit BTC-PERPETUAL	+0.0035%	1h	85,528.6	+0.013%	$869.0M	$1.62B	50x	as long as short
Nado BTC-PERP	+0.0043%	1h	85,499.8	−0.021%	$24.6M	$222.5M	50x	as long as short
Kraken Futures PF_XBTUSD	+0.0056%	1h	85,502.4	−0.017%	$188.4M	$953.9M	100x	as long as short
BingX BTC-USDC	+0.0069%	8h	85,479.6	−0.044%	—	$17.5M	—	as long as short
Phemex BTCUSDT	+0.0080%	8h	85,496	−0.025%	$148.9M	$507.0M	150x	as long as short
Bitget BTCUSDT	+0.0087%	8h	85,481.5	−0.042%	$2.96B	$5.18B	150x	as long as short
Lighter BTC	+0.0096%	1h	85,500.6	−0.020%	$171.3M	$1.03B	50x	as long as short
Lighter RH BTC	+0.0096%	1h	85,497.3	−0.023%	$23.7M	$149.3M	50x	as long as short
Popdex BTCUSDT	+0.0096%	1h	85,505	−0.014%	$8.4M	$55.9M	100x	as long as short
Aevo BTC-PERP	+0.0096%	1h	85,495.3	−0.026%	$2.4M	$6.7M	20x	as long as short
Coinbase International BTC-PERP-INTX	+0.0096%	1h	85,527.6	+0.012%	$117.2M	$5.45B	50x	as long as short
MEXC BTC_USDT	+0.0097%	8h	85,493	−0.028%	$5.01B	$5.77B	500x	as long as short
Binance BTCUSDT	+0.0097%	8h	85,489	−0.033%	$9.45B	$24.92B	150x	as long as short
Katana Perps BTC-USDshort	+0.0100%	8h	85,477	−0.047%	$236K	$8.6M	50x
Paradex BTC-USD-PERP	+0.0100%	8h	85,551.1	+0.040%	$5.8M	$9.6M	50x	as long as short
Hyperliquid BTC	+0.0100%	1h	85,573	+0.065%	$3.76B	$5.09B	40x	as long as short
Pacifica BTC	+0.0100%	1h	85,529.4	+0.014%	$40.0M	$598.7M	50x	as long as short
Bybit BTCUSDT	+0.0100%	8h	85,483.2	−0.040%	$5.15B	$9.98B	150x	as long as short
OKX BTC-USDT-SWAP	+0.0100%	8h	85,482.3	−0.041%	$2.59B	$12.25B	100x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	85,491	−0.031%	$3.8M	$17.4M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	85,502.5	−0.017%	$4.6M	$98.8M	40x	as long as short
Bulk BTC-USD	+0.0100%	1h	85,501.7	−0.018%	$682.6M	$531.9M	40x	as long as short
Gate BTC_USDT	+0.0100%	8h	85,495.6	−0.025%	$5.52B	$11.10B	200x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	85,481.8	−0.042%	$36.6M	$178.7M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	85,535.9	+0.022%	$155.0M	$560.6M	—	as long as short
edgeX BTCUSDC	+0.0100%	4h	85,505.3	−0.014%	$280.0M	$952.5M	100x	as long as short
GRVT BTC_USDT_Perp	+0.0100%	8h	85,535.3	+0.021%	$214.9M	$167.4M	50x	as long as short
ApeX Omni BTCUSDT	+0.0100%	1h	85,531.6	+0.017%	$139.8M	$314.5M	100x	as long as short
StandX BTC-USD	+0.0100%	1h	85,542	+0.029%	$30.2M	$207.2M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	85,572.3	+0.064%	—	$10.9M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	85,500	−0.020%	$11.0M	$14.5M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	85,505	−0.014%	$204K	$3.3M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	85,517.2	0.000%	$2.6M	$9.8M	100x	as long as short
Bluefin BTC-PERP	+0.0100%	1h	85,537.3	+0.023%	$194K	$795K	40x	as long as short
Derive BTC-PERP	+0.0100%	1h	85,485	−0.038%	$30.0M	$48.0M	15x	as long as short
SunX BTC-USDT	+0.0100%	8h	85,479.1	−0.045%	$2.9M	$6.1M	100x	as long as short
SoDEX BTC-USD	+0.0100%	1h	85,490	−0.032%	$59.8M	$336.3M	40x	as long as short
HTX BTC-USDT	+0.0100%	8h	85,493.1	−0.028%	$2.26B	$942.4M	200x	as long as short
Extended BTC-USD	+0.0104%	1h	85,469.9	−0.055%	$44.5M	$240.6M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0048%	1h	85,526.6	+0.011%	—	$106.8M	500x	as long as short
Reya BTCRUSDPERP	+0.0120%	1h	85,496.3	−0.025%	$6.6M	$147.6M	40x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0176% / S −0.0151%	1h	85,513.5	−0.004%	$13.1M	—	200x	as long as short
Kalshi KXBTCPERP	+0.0211%	8h	85,533	+0.018%	$11.4M	$743.6M	6.4x	as long as short
Aftermath Perps BTCUSD	+0.0233%	1h	85,552.4	+0.041%	$79K	$228K	20x	as long as short
Hibachi BTC/USDT-P	+0.0240%	1h	85,566	+0.057%	$694K	$8.0M	30x	as long as short
RISEx BTC/USDC	+0.0257%	1h	85,530	+0.015%	$8.8M	$43.3M	25x	as long as short