Funding you earn now, next payment 01:00 UTC+0.0077%/8h= +8.4% APRpaid last 24h +0.023%
Price spread now: Katana Perps against Injective−0.317%7-day average −0.032% · 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)+0.098%+$10 on $10k
+Price spread, last 3 days (all we have)+0.337%+$34 · spread now −0.317%, 7d avg −0.032%
=Funding pays, the price is against you. Katana Perps is 0.285% cheaper against Injective than usual: you would sell low and buy high (spread −0.317% now, against its 7-day average of −0.032%). If the spread goes back, that is −$29 on $10k: about 12 days of funding at the current rate (+$2 a day).
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Injective BTC/USDC PERP | 86,365 | 0.0023 | pay 0.0003% / 1h | 3m 44s | $343K | $26.9M | 52x |
| Short | Katana Perps BTC-USD | 86,091 | 0.0100 | get 0.0100% / 8h | 7h 03m | $201K | $7.3M | 50x |
Injective BTC/USDC PERP
Katana Perps BTC-USDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Katana Perps against Injective. 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
- $16.13
- Price spread: −0.317% → −0.032%
- −$28.52
- Slippage, 4 orders
- no order book: not counted
- Fee Injective: 0.01 bp × 2 orders
- −$0.02
- Fee Katana Perps: 1.9 bp × 2 orders
- −$3.8
- Net
- −$16.21
- Costs to cover
- 0.038%
- Break-even
- 14.0 days
Slippage unknown: Injective: live order book, just now; 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 Injective live order book, just now | 3.14 bp | 3.1 bp −$3 | 14.4 bp −$144 | doesn't fit | doesn't fit |
| 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 | |
|---|---|---|---|---|---|---|---|---|
| Phoenix BTC | −0.0129% | 1h | 86,215 | −0.174% | $2.2M | $11.2M | 40x | as long as short |
| Hotstuff BTC-PERP | −0.0080% | 1h | 86,129 | −0.273% | $9K | $3K | 50x | as long as short |
| 01 Exchange BTCUSD | −0.0048% | 1h | 86,111.1 | −0.294% | $363K | $2.3M | 50x | as long as short |
| Perpl BTC | 0.0000% | 43m | 86,144.7 | −0.255% | $518K | $21.2M | 6.7x | as long as short |
| gTrade (Gains Network) BTC/USD | L +0.0004% / S −0.0004% | 1h | 86,126.9 | −0.276% | $36.8M | — | 200x | as long as short |
| dYdX BTC-USD | +0.0023% | 1h | 85,950.3 | −0.480% | $16.8M | $20.5M | 50x | as long as short |
| Injective BTC/USDC PERPlong | +0.0023% | 1h | 86,365 | long leg | $343K | $26.9M | 52x | |
| Aster BTCUSDT | +0.0031% | 8h | 85,973.6 | −0.453% | $498.5M | $1.13B | 200x | as long as short |
| KuCoin XBTUSDTM | +0.0044% | 8h | 85,915.2 | −0.521% | $825.7M | $715.8M | 125x | as long as short |
| Reya BTCRUSDPERP | +0.0050% | 1h | 86,101.2 | −0.305% | $6.7M | $145.8M | 40x | as long as short |
Phoenix BTC
Hotstuff BTC-PERP
01 Exchange BTCUSD
Perpl BTC
gTrade (Gains Network) BTC/USD
dYdX BTC-USD
Aster BTCUSDT
KuCoin XBTUSDTM
Reya BTCRUSDPERPShow all 56 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| RISEx BTC/USDC | +0.0052% | 1h | 86,122.8 | −0.280% | $8.2M | $42.4M | 25x | as long as short |
| BingX BTC-USDC | +0.0053% | 8h | 85,908.2 | −0.529% | — | $15.3M | — | as long as short |
| HTX BTC-USDT | +0.0056% | 8h | 86,045.8 | −0.370% | $2.28B | $959.1M | 200x | as long as short |
| Bitget BTCUSDT | +0.0066% | 8h | 85,909.3 | −0.528% | $2.95B | $5.07B | 150x | as long as short |
| Phemex BTCUSDT | +0.0066% | 8h | 86,057.3 | −0.356% | $155.2M | $473.2M | 150x | as long as short |
| SoDEX BTC-USD | +0.0069% | 1h | 86,066 | −0.346% | $60.3M | $338.3M | 40x | as long as short |
| Aevo BTC-PERP | +0.0080% | 1h | 86,069.6 | −0.342% | $2.5M | $1.8M | 20x | as long as short |
| Binance BTCUSDT | +0.0082% | 8h | 85,949.1 | −0.482% | $9.35B | $24.33B | 150x | as long as short |
| MEXC BTC_USDT | +0.0082% | 8h | 85,925.9 | −0.508% | $5.09B | $5.78B | 500x | as long as short |
| Bluefin BTC-PERP | +0.0087% | 1h | 86,118 | −0.286% | $144K | $666K | 40x | as long as short |
| Gate BTC_USDT | +0.0095% | 8h | 85,972.8 | −0.454% | $5.74B | $10.68B | 200x | as long as short |
| Lighter BTC | +0.0096% | 1h | 85,960.1 | −0.469% | $169.8M | $998.3M | 50x | as long as short |
| Lighter RH BTC | +0.0096% | 1h | 85,961.9 | −0.467% | $23.5M | $152.4M | 50x | as long as short |
| Popdex BTCUSDT | +0.0096% | 1h | 86,113 | −0.292% | $8.4M | $52.0M | 100x | as long as short |
| Katana Perps BTC-USDshort | +0.0100% | 8h | 86,091 | −0.317% | $201K | $7.3M | 50x | |
| Paradex BTC-USD-PERP | +0.0100% | 8h | 85,946.5 | −0.485% | $4.2M | $8.5M | 50x | as long as short |
| Nado BTC-PERP | +0.0100% | 1h | 86,113.4 | −0.291% | $21.8M | $225.5M | 50x | as long as short |
| Hyperliquid BTC | +0.0100% | 1h | 86,000 | −0.423% | $3.76B | $4.98B | 40x | as long as short |
| Pacifica BTC | +0.0100% | 1h | 85,984 | −0.441% | $40.7M | $560.8M | 50x | as long as short |
| Bybit BTCUSDT | +0.0100% | 8h | 85,945.1 | −0.486% | $5.23B | $9.67B | 150x | as long as short |
| OKX BTC-USDT-SWAP | +0.0100% | 8h | 85,938.3 | −0.494% | $2.54B | $12.42B | 100x | as long as short |
| Ondo Perps BTC-USD.P | +0.0100% | 1h | 86,120 | −0.284% | $3.9M | $17.9M | 25x | as long as short |
| Arcus BTC-USD | +0.0100% | 1h | 86,134.1 | −0.267% | $7.3M | $95.2M | 40x | as long as short |
| Backpack BTC_USDC_PERP | +0.0100% | 1h | 86,014 | −0.406% | $35.4M | $161.8M | 75x | as long as short |
| Variational Omni BTC | +0.0100% | 8h | 86,079.3 | −0.331% | $156.4M | $555.5M | — | as long as short |
| edgeX BTCUSDC | +0.0100% | 4h | 86,114.1 | −0.291% | $278.1M | $940.2M | 100x | as long as short |
| GRVT BTC_USDT_Perp | +0.0100% | 8h | 86,175.4 | −0.220% | $216.3M | $165.4M | 50x | as long as short |
| ApeX Omni BTCUSDT | +0.0100% | 1h | 86,194.2 | −0.198% | $141.1M | $320.0M | 100x | as long as short |
| StandX BTC-USD | +0.0100% | 1h | 86,069.2 | −0.343% | $30.5M | $206.6M | 40x | as long as short |
| Vest BTC-PERP | +0.0100% | 1h | 86,148.9 | −0.250% | — | $11.8M | 50x | as long as short |
| Polymarket Perps BTC-USD | +0.0100% | 1h | 86,112 | −0.293% | $11.0M | $14.1M | 50x | as long as short |
| Bullet BTC-USD | +0.0100% | 1h | 86,116.5 | −0.288% | $189K | $3.3M | 20x | as long as short |
| Orderly PERP_BTC_USDC | +0.0100% | 8h | 86,080.1 | −0.330% | $2.4M | $9.1M | 100x | as long as short |
| Derive BTC-PERP | +0.0100% | 1h | 86,088.5 | −0.320% | $30.2M | $57.0M | 15x | as long as short |
| SunX BTC-USDT | +0.0100% | 8h | 86,047.1 | −0.368% | $3.3M | $5.4M | 100x | as long as short |
| Bulk BTC-USD | +0.0100% | 1h | 86,141.5 | −0.259% | $581.0M | $76.4M | 40x | as long as short |
| Extended BTC-USD | +0.0104% | 1h | 85,950.3 | −0.480% | $46.0M | $222.6M | 50x | as long as short |
| Jupiter Perps WBTC-PERP | L +0.0104% / S +0.0048% | 1h | 86,080.4 | −0.330% | — | $99.2M | 500x | as long as short |
| Coinbase International BTC-PERP-INTX | +0.0120% | 1h | 86,084.4 | −0.325% | $132.2M | $5.27B | 50x | as long as short |
| Kraken Futures PF_XBTUSD | +0.0122% | 1h | 86,090 | −0.318% | $190.1M | $954.0M | 100x | as long as short |
| Hibachi BTC/USDT-P | +0.0128% | 1h | 86,108.8 | −0.297% | $724K | $8.0M | 30x | as long as short |
| Aftermath Perps BTCUSD | +0.0169% | 1h | 86,174.5 | −0.221% | $77K | $217K | 20x | as long as short |
| Deribit BTC-PERPETUAL | +0.0182% | 1h | 86,111.8 | −0.293% | $902.8M | $1.51B | 50x | as long as short |
| BloFin BTC-USDT | +0.0203% | 8h | 86,079.9 | −0.330% | $415.6M | $640.3M | 150x | as long as short |
| Kalshi KXBTCPERP | +0.0205% | 8h | 86,114 | −0.291% | $10.2M | $766.1M | 6.4x | as long as short |
| GMX BTC/USD [WBTC.b-USDC] | L +0.0207% / S −0.0222% | 1h | 86,121.5 | −0.282% | $14.5M | — | 200x | as long as short |
RISEx BTC/USDC
BingX BTC-USDC
HTX BTC-USDT
Bitget BTCUSDT
Phemex BTCUSDT
SoDEX BTC-USD
Aevo BTC-PERP
Binance BTCUSDT
MEXC BTC_USDT
Bluefin BTC-PERP
Gate BTC_USDT
Lighter BTC
Lighter RH BTC
Popdex BTCUSDT
Paradex BTC-USD-PERP
Nado BTC-PERP
Hyperliquid BTC
Pacifica BTC
Bybit BTCUSDT
OKX BTC-USDT-SWAP
Ondo Perps BTC-USD.P
Arcus BTC-USD
Backpack BTC_USDC_PERP
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
Derive BTC-PERP
SunX BTC-USDT
Bulk BTC-USD
Extended BTC-USD
Jupiter Perps WBTC-PERP
Coinbase International BTC-PERP-INTX
Kraken Futures PF_XBTUSD
Hibachi BTC/USDT-P
Aftermath Perps BTCUSD
Deribit BTC-PERPETUAL
BloFin BTC-USDT
Kalshi KXBTCPERP
GMX BTC/USD [WBTC.b-USDC]