BTC

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0031%/8h= +3.4% APRnext payment +$0.04 per $10,000 · paid last 24h −0.006%

Price spread now: Kraken Futures against Jupiter Perps−0.016%7-day average +0.008% · you buy dearer than you sell

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

Long on Jupiter Perps Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.039%−$4 on $10k

Price spread, last 4 days (all we have)+0.022%+$2 · spread now −0.016%, 7d avg +0.008%

Together, before fees−0.017%−$2 on $10k · with fees, hour by hour

Funding pays, the price is against you. Kraken Futures is 0.024% cheaper against Jupiter Perps than usual: you would sell low and buy high (spread −0.016% now, against its 7-day average of +0.008%). If the spread goes back, that is −$2 on $10k: about 2.6 days of funding at the current rate (+$1 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Jupiter Perps WBTC-PERP	85,646.1	L +0.0104% / S +0.0048%	pay 0.0013% / 1h	45m 11s	—	$107.6M	500x
Short	Kraken Futures PF_XBTUSD	85,632.7	0.0135	get 0.0017% / 1h	45m 11s	$188.0M	$955.6M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against Jupiter Perps. 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 Jupiter PerpsbpFee Kraken FuturesbpOrdersPrice spread, now −0.016%Rate

Funding earned: $6.5
Price spread: −0.016% → +0.008%: −$2.42
Slippage, 4 orders: no order book: not counted
Fee Jupiter Perps: 6 bp × 2 orders: −$12
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$17.92
Costs to cover: 0.220%
Break-even: 26.3 days

Slippage unknown: Jupiter Perps: no order-book sample; Kraken Futures: live order book, 4 min ago. 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 Jupiter Perps no order-book sample	—	—	—	—	—
Sell Kraken Futures live order book, 4 min ago	0.06 bp	5.1 bp −$5	6.0 bp −$60	7.1 bp −$708	9.4 bp −$4,690

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	−0.0140%	1h	85,589	−0.067%	$2.1M	$10.4M	40x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	85,649	+0.003%	$8K	$3K	50x	as long as short
KuCoin XBTUSDTM	−0.0039%	8h	85,599.3	−0.055%	$917.0M	$756.6M	125x	as long as short
BloFin BTC-USDT	−0.0020%	8h	85,627	−0.022%	$418.4M	$675.8M	150x	as long as short
01 Exchange BTCUSD	−0.0016%	1h	85,604.3	−0.049%	$366K	$2.3M	50x	as long as short
Nado BTC-PERP	−0.0002%	1h	85,602.3	−0.051%	$24.8M	$222.5M	50x	as long as short
dYdX BTC-USD	0.0000%	1h	85,631.4	−0.017%	$16.8M	$21.2M	50x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0004% / S −0.0004%	1h	85,620.7	−0.030%	$36.6M	—	200x	as long as short
Aster BTCUSDT	+0.0010%	8h	85,605.6	−0.047%	$515.5M	$1.10B	200x	as long as short
Deribit BTC-PERPETUAL	+0.0021%	1h	85,651.1	+0.006%	$884.2M	$1.59B	50x	as long as short

Show all 56 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Injective BTC/USDC PERP	+0.0044%	1h	85,690	+0.051%	$340K	$26.9M	52x	as long as short
BingX BTC-USDC	+0.0064%	8h	85,589.2	−0.066%	—	$17.2M	—	as long as short
Phemex BTCUSDT	+0.0068%	8h	85,605.4	−0.048%	$148.6M	$491.4M	150x	as long as short
SoDEX BTC-USD	+0.0080%	1h	85,614	−0.038%	$60.0M	$336.1M	40x	as long as short
Bitget BTCUSDT	+0.0081%	8h	85,598.1	−0.056%	$2.96B	$5.11B	150x	as long as short
Reya BTCRUSDPERP	+0.0093%	1h	85,587.8	−0.068%	$6.6M	$147.0M	40x	as long as short
Lighter BTC	+0.0096%	1h	85,614.2	−0.037%	$172.1M	$1.01B	50x	as long as short
Lighter RH BTC	+0.0096%	1h	85,625.1	−0.025%	$23.9M	$148.0M	50x	as long as short
Popdex BTCUSDT	+0.0096%	1h	85,590	−0.066%	$8.7M	$54.6M	100x	as long as short
Aevo BTC-PERP	+0.0096%	1h	85,616.4	−0.035%	$2.5M	$1.7M	20x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	85,578	−0.080%	$202K	$8.2M	50x	as long as short
Paradex BTC-USD-PERP	+0.0100%	8h	85,666	+0.023%	$5.7M	$9.4M	50x	as long as short
Pacifica BTC	+0.0100%	1h	85,635.7	−0.012%	$40.6M	$584.8M	50x	as long as short
Binance BTCUSDT	+0.0100%	8h	85,600.5	−0.053%	$9.42B	$24.31B	150x	as long as short
Bybit BTCUSDT	+0.0100%	8h	85,599	−0.055%	$5.19B	$9.84B	150x	as long as short
OKX BTC-USDT-SWAP	+0.0100%	8h	85,607.1	−0.046%	$2.59B	$12.15B	100x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	85,594	−0.061%	$3.8M	$17.8M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	85,584.4	−0.072%	$4.4M	$98.5M	40x	as long as short
Gate BTC_USDT	+0.0100%	8h	85,606.6	−0.046%	$5.54B	$10.77B	200x	as long as short
MEXC BTC_USDT	+0.0100%	8h	85,603.4	−0.050%	$5.07B	$5.64B	500x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	85,593.3	−0.062%	$36.0M	$177.6M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	85,612.6	−0.039%	$153.5M	$564.7M	—	as long as short
edgeX BTCUSDC	+0.0100%	4h	85,612.9	−0.039%	$279.7M	$927.1M	100x	as long as short
GRVT BTC_USDT_Perp	+0.0100%	8h	85,585.1	−0.071%	$215.0M	$169.0M	50x	as long as short
ApeX Omni BTCUSDT	+0.0100%	1h	85,627.8	−0.021%	$140.0M	$315.9M	100x	as long as short
StandX BTC-USD	+0.0100%	1h	85,627.5	−0.022%	$30.3M	$207.9M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	85,664.7	+0.022%	—	$11.8M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	85,593	−0.062%	$11.1M	$14.3M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	85,590	−0.066%	$197K	$3.3M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	85,617.3	−0.034%	$2.4M	$8.7M	100x	as long as short
Bluefin BTC-PERP	+0.0100%	1h	85,663.2	+0.020%	$207K	$739K	40x	as long as short
Derive BTC-PERP	+0.0100%	1h	85,611.9	−0.040%	$30.0M	$50.1M	15x	as long as short
SunX BTC-USDT	+0.0100%	8h	85,586.5	−0.070%	$2.9M	$6.1M	100x	as long as short
HTX BTC-USDT	+0.0100%	8h	85,593.7	−0.061%	$2.27B	$946.5M	200x	as long as short
Bulk BTC-USD	+0.0100%	1h	85,665.1	+0.022%	$677.0M	$718.2M	40x	as long as short
Hyperliquid BTC	+0.0100%	1h	85,683	+0.043%	$3.79B	$5.02B	40x	as long as short
Extended BTC-USD	+0.0104%	1h	85,600.7	−0.053%	$44.8M	$231.4M	50x	as long as short
Jupiter Perps WBTC-PERPlong	L +0.0104% / S +0.0048%	1h	85,646.1	long leg	—	$107.6M	500x
Coinbase International BTC-PERP-INTX	+0.0104%	1h	85,640	−0.007%	$117.2M	$5.22B	50x	as long as short
Kraken Futures PF_XBTUSDshort	+0.0135%	1h	85,632.7	−0.016%	$188.0M	$955.6M	100x
RISEx BTC/USDC	+0.0174%	1h	85,629.4	−0.020%	$8.7M	$42.9M	25x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0201% / S −0.0177%	1h	85,609.9	−0.042%	$13.1M	—	200x	as long as short
Kalshi KXBTCPERP	+0.0222%	8h	85,654	+0.009%	$12.0M	$756.3M	6.4x	as long as short
Aftermath Perps BTCUSD	+0.0233%	1h	85,668	+0.026%	$78K	$220K	20x	as long as short
Hibachi BTC/USDT-P	+0.0248%	1h	85,663.2	+0.020%	$696K	$7.9M	30x	as long as short
Perpl BTC	+0.0335%	43m	85,635.4	−0.013%	$499K	$18.8M	6.7x	as long as short