BTC

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0013%/8h= −1.4% APRnext payment −$0.02 per $10,000 · paid last 24h −0.022%

Price spread now: Jupiter Perps against Injective−0.127%57s7-day average −0.006% · you buy dearer than you sell

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

Long on Injective Short on Jupiter Perps

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.045%−$4 on $10k

Price spread, last 3 days (all we have)+0.153%+$15 · spread now −0.127%, 7d avg −0.006%

Together, before fees+0.108%+$11 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs $0 a day on $10k at the current rate, and Jupiter Perps is 0.121% cheaper against Injective than usual: you would sell low and buy high (−$12 if the spread goes back to its 7-day average of −0.006%). Swap the legs. The two prices were read 57 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Injective BTC/USDC PERP	86,568	−0.0035	get 0.0004% / 1h	26m 00s	$333K	$26.8M	52x
Short	Jupiter Perps WBTC-PERP	86,458	L +0.0104% / S +0.0048%	pay 0.0006% / 1h	26m 00s	—	$98.9M	500x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Jupiter Perps against Injective. 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 InjectivebpFee Jupiter PerpsbpOrdersPrice spread, now −0.127%Rate

Funding earned: −$2.78
Price spread: −0.127% → −0.006%: −$12.12
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Jupiter Perps: 6 bp × 2 orders: −$12
Net: −$26.92
Costs to cover: 0.120%
Break-even: never at this rate

Slippage unknown: Injective: live order book, 3 min ago; Jupiter 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 Injective live order book, 3 min ago	1.68 bp	2.1 bp −$2	12.2 bp −$122	doesn't fit	doesn't fit
Sell Jupiter Perps no order-book sample	—	—	—	—	—

Jupiter 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
Phoenix BTC	−0.0118%	1h	86,477	−0.105%	$2.2M	$11.8M	40x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	86,413	−0.179%	$9K	$3K	50x	as long as short
Injective BTC/USDC PERPlong	−0.0035%	1h	86,568	long leg	$333K	$26.8M	52x
RISEx BTC/USDC	−0.0024%	1h	86,420.6	−0.170%	$8.3M	$42.8M	25x	as long as short
01 Exchange BTCUSD	−0.0016%	1h	86,420.5	−0.170%	$359K	$2.5M	50x	as long as short
Aster BTCUSDT	−0.0001%	8h	86,402.8	−0.191%	$501.3M	$1.15B	200x	as long as short
Perpl BTC	0.0000%	43m	86,446.6	−0.140%	$415K	$23.1M	6.7x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0005% / S −0.0004%	1h	86,423.2	−0.167%	$36.8M	—	200x	as long as short
KuCoin XBTUSDTM	+0.0017%	8h	86,387.8	−0.208%	$849.6M	$715.7M	125x	as long as short
Deribit BTC-PERPETUAL	+0.0026%	1h	86,422.6	−0.168%	$914.5M	$1.48B	50x	as long as short

Show all 56 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Reya BTCRUSDPERP	+0.0031%	1h	86,401.1	−0.193%	$6.7M	$145.5M	40x	as long as short
BingX BTC-USDT	+0.0042%	8h	86,402.9	−0.191%	—	$1.59B	—	as long as short
Bitget BTCUSDT	+0.0052%	8h	86,388.6	−0.207%	$2.96B	$5.13B	150x	as long as short
Phemex BTCUSDT	+0.0053%	8h	86,396.4	−0.198%	$150.5M	$478.5M	150x	as long as short
dYdX BTC-USD	+0.0066%	1h	86,448.3	−0.138%	$16.9M	$21.2M	50x	as long as short
Binance BTCUSDT	+0.0069%	8h	86,400	−0.194%	$9.42B	$24.58B	150x	as long as short
MEXC BTC_USDT	+0.0069%	8h	86,391.8	−0.204%	$5.16B	$5.67B	500x	as long as short
Aevo BTC-PERP	+0.0072%	1h	86,386.7	−0.209%	$2.4M	$1.3M	20x	as long as short
Gate BTC_USDT	+0.0082%	8h	86,397.1	−0.197%	$5.86B	$10.77B	200x	as long as short
SoDEX BTC-USD	+0.0087%	1h	86,382	−0.215%	$60.3M	$338.0M	40x	as long as short
Lighter BTC	+0.0096%	1h	86,393.8	−0.201%	$170.4M	$1.02B	50x	as long as short
Lighter RH BTC	+0.0096%	1h	86,403.1	−0.190%	$23.9M	$152.4M	50x	as long as short
Popdex BTCUSDT	+0.0096%	1h	86,410	−0.183%	$8.5M	$52.4M	100x	as long as short
Bybit BTCUSDT	+0.0098%	8h	86,405.1	−0.188%	$5.26B	$9.81B	150x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	86,393	−0.202%	$202K	$7.1M	50x	as long as short
Paradex BTC-USD-PERP	+0.0100%	8h	86,462	−0.122%	$4.8M	$8.5M	50x	as long as short
Nado BTC-PERP	+0.0100%	1h	86,430.8	−0.159%	$22.0M	$234.6M	50x	as long as short
Hyperliquid BTC	+0.0100%	1h	86,459	−0.126%	$3.79B	$5.11B	40x	as long as short
Pacifica BTC	+0.0100%	1h	86,457.8	−0.127%	$41.1M	$529.8M	50x	as long as short
OKX BTC-USDT-SWAP	+0.0100%	8h	86,407.7	−0.185%	$2.55B	$12.73B	100x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	86,437	−0.151%	$3.9M	$18.7M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	86,463.5	−0.121%	$7.5M	$95.3M	40x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	86,381.6	−0.215%	$38.2M	$155.7M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	86,405.8	−0.187%	$157.3M	$568.1M	—	as long as short
edgeX BTCUSDC	+0.0100%	4h	86,448.6	−0.138%	$279.2M	$945.2M	100x	as long as short
GRVT BTC_USDT_Perp	+0.0100%	8h	86,485.6	−0.095%	$217.2M	$171.6M	50x	as long as short
ApeX Omni BTCUSDT	+0.0100%	1h	86,461.9	−0.123%	$141.4M	$323.1M	100x	as long as short
StandX BTC-USD	+0.0100%	1h	86,390.9	−0.205%	$30.6M	$205.3M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	86,461.5	−0.123%	—	$11.9M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	86,408	−0.185%	$11.1M	$13.9M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	86,403.3	−0.190%	$189K	$3.3M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	86,390.1	−0.206%	$2.4M	$9.0M	100x	as long as short
Bluefin BTC-PERP	+0.0100%	1h	86,424	−0.166%	$140K	$664K	40x	as long as short
Derive BTC-PERP	+0.0100%	1h	86,420	−0.171%	$30.5M	$62.6M	15x	as long as short
SunX BTC-USDT	+0.0100%	8h	86,410.3	−0.182%	$3.4M	$5.4M	100x	as long as short
HTX BTC-USDT	+0.0100%	8h	86,375.1	−0.223%	$2.29B	$969.5M	200x	as long as short
Bulk BTC-USD	+0.0100%	1h	86,464.9	−0.119%	$572.1M	$16.9M	40x	as long as short
Extended BTC-USD	+0.0104%	1h	86,375.7	−0.222%	$45.5M	$227.4M	50x	as long as short
Jupiter Perps WBTC-PERPshort	L +0.0104% / S +0.0048%	1h	86,458	−0.127%	—	$98.9M	500x
Kraken Futures PF_XBTUSD	+0.0110%	1h	86,410.8	−0.182%	$192.1M	$954.6M	100x	as long as short
Coinbase International BTC-PERP-INTX	+0.0112%	1h	86,431.1	−0.158%	$132.3M	$5.65B	50x	as long as short
Aftermath Perps BTCUSD	+0.0149%	1h	86,487.8	−0.093%	$78K	$219K	20x	as long as short
Hibachi BTC/USDT-P	+0.0184%	1h	86,438.5	−0.150%	$727K	$8.0M	30x	as long as short
BloFin BTC-USDT	+0.0189%	8h	86,446	−0.141%	$416.9M	$658.5M	150x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0196% / S −0.0219%	1h	86,416.3	−0.175%	$15.0M	—	200x	as long as short
Kalshi KXBTCPERP	+0.0207%	8h	86,452	−0.134%	$9.7M	$747.5M	6.4x	as long as short