BTC

Alert

Funding spread now, next payment 19:00 UTC+0.0127%/8h

paid, last 24h+0.025%paid, last 3 days+0.054%to open and closeno order book

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Katana Perps BTC-USD	85,923	0.0100	pay 0.0100% / 8h	5h 08m	$208K	$5.9M	50x
Short	Deribit BTC-PERPETUAL	86,012.3	0.0226	get 0.0028% / 1h	8m 43s	$917.5M	$1.12B	50x

Funding history

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Funding on every exchange

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Profit calculator

Position, each leg$Hold fordaysFee Katana PerpsbpFee DeribitbpOrdersRate

Funding earned: $26.57
Slippage, 4 orders: no order book: not counted
Fee Katana Perps: 1.9 bp × 2 orders: −$3.8
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: $15.77
Break-even: 2.8 days

Slippage unknown: Katana Perps: no order-book sample; Deribit: live order book, 2 min ago. Net counts fees only.

Price risk

price view

Price gap now: +0.104%
Avg gap 7d: +0.064%

A gap far from its average can cost days of funding.

Backtest

opened in the past, held until now, after costs

Backtest 7 days Backtest 30 days Backtest 90 daysopens the backtester with this pair and $10,000 a leg

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 Katana Perps no order-book sample	—	—	—	—	—
Sell Deribit live order book, 2 min ago	0.09 bp	3.9 bp −$4	4.8 bp −$48	8.3 bp −$832	17.4 bp −$8,678

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.

Exchange	Funding /8h	Every	OI	Vol 24h	Max lev
Perpl BTC	−0.0447%	43m	$411K	$25.9M	6.7x	as long as short
Arcus BTC-USD	−0.0299%	1h	$6.8M	$86.4M	40x	as long as short
BloFin BTC-USDT	−0.0092%	8h	$423.9M	$569.1M	150x	as long as short
Phoenix BTC	−0.0082%	1h	$2.0M	$11.0M	40x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	$9K	$4K	50x	as long as short
01 Exchange BTCUSD	−0.0048%	1h	$310K	$2.3M	50x	as long as short
Kraken Futures PF_XBTUSD	−0.0019%	1h	$189.1M	$820.0M	100x	as long as short
Reya BTCRUSDPERP	−0.0015%	1h	$6.8M	$138.3M	40x	as long as short
Aftermath Perps BTCUSD	−0.0012%	1h	$87K	$158K	20x	as long as short
SoDEX BTC-USD	−0.0012%	1h	$60.9M	$285.8M	40x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	OI	Vol 24h	Max lev
KuCoin XBTUSDTM	−0.0011%	8h	$809.4M	$623.6M	125x	as long as short
dYdX BTC-USD	−0.0010%	1h	$17.1M	$17.7M	50x	as long as short
Injective BTC/USDC PERP	−0.0006%	1h	$308K	$27.0M	52x	as long as short
Kalshi KXBTCPERP	0.0000%	8h	$11.5M	$662.3M	6.4x	as long as short
Bitget BTCUSDT	+0.0002%	8h	$2.97B	$4.69B	150x	as long as short
BingX BTC-USDT	+0.0002%	8h	—	$1.37B	—	as long as short
gTrade (Gains Network) BTC/USD	L +0.0005% / S −0.0004%	1h	$36.8M	—	200x	as long as short
Bulk BTC-USD	+0.0007%	1h	$563.6M	$124.3M	40x	as long as short
Aster BTCUSDT	+0.0016%	8h	$506.5M	$1.10B	200x	as long as short
Phemex BTCUSDT	+0.0026%	8h	$154.5M	$426.8M	150x	as long as short
MEXC BTC_USDT	+0.0028%	8h	$5.16B	$5.15B	500x	as long as short
Binance BTCUSDT	+0.0028%	8h	$9.51B	$22.23B	150x	as long as short
RISEx BTC/USDC	+0.0031%	1h	$9.3M	$38.7M	25x	as long as short
Aevo BTC-PERP	+0.0032%	1h	$2.4M	$1.3M	20x	as long as short
OKX BTC-USDT-SWAP	+0.0036%	8h	$2.67B	$11.62B	100x	as long as short
HTX BTC-USDT	+0.0042%	8h	$2.29B	$857.3M	200x	as long as short
Popdex BTCUSDT	+0.0048%	1h	$8.5M	$46.4M	100x	as long as short
ApeX Omni BTCUSDT	+0.0048%	1h	$139.8M	$320.7M	100x	as long as short
Gate BTC_USDT	+0.0050%	8h	$6.09B	$9.70B	200x	as long as short
Bybit BTCUSDT	+0.0051%	8h	$5.28B	$8.69B	150x	as long as short
Hibachi BTC/USDT-P	+0.0064%	1h	$747K	$6.5M	30x	as long as short
Variational Omni BTC	+0.0075%	8h	$166.9M	$509.4M	—	as long as short
Extended BTC-USD	+0.0088%	1h	$48.4M	$201.5M	50x	as long as short
Orderly PERP_BTC_USDC	+0.0090%	8h	$2.4M	$7.4M	100x	as long as short
Lighter BTC	+0.0096%	1h	$172.3M	$955.7M	50x	as long as short
Lighter RH BTC	+0.0096%	1h	$24.5M	$139.3M	50x	as long as short
Paradex BTC-USD-PERP	+0.0099%	8h	$4.4M	$6.9M	50x	as long as short
Katana Perps BTC-USDlong	+0.0100%	8h	$208K	$5.9M	50x
Bullet BTC-USD	+0.0100%	1h	$232K	$3.3M	20x	as long as short
Nado BTC-PERP	+0.0100%	1h	$23.0M	$227.3M	50x	as long as short
Pacifica BTC	+0.0100%	1h	$36.6M	$424.4M	50x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	$4.0M	$17.4M	25x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	$37.8M	$135.1M	75x	as long as short
edgeX BTCUSDC	+0.0100%	4h	$281.3M	$881.1M	100x	as long as short
StandX BTC-USD	+0.0100%	1h	$30.7M	$210.5M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	—	$11.5M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	$11.0M	$12.4M	50x	as long as short
Bluefin BTC-PERP	+0.0100%	1h	$143K	$454K	40x	as long as short
Derive BTC-PERP	+0.0100%	1h	$30.4M	$59.0M	15x	as long as short
SunX BTC-USDT	+0.0100%	8h	$3.4M	$5.7M	100x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0048%	1h	—	$83.3M	500x	as long as short
Hyperliquid BTC	+0.0140%	1h	$3.97B	$4.50B	40x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0175% / S −0.0177%	1h	$13.7M	—	200x	as long as short
Coinbase International BTC-PERP-INTX	+0.0200%	1h	$129.2M	$5.84B	50x	as long as short
Deribit BTC-PERPETUALshort	+0.0226%	1h	$917.5M	$1.12B	50x