Funding you earn now, next payment 02:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.020%
Price spread now: Hyperliquid against Katana Perps+0.091%7-day average +0.074% · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 4 days (all we have)+0.022%+$2 on $10k
+Price spread, last 7 days−0.088%−$9 · spread now +0.091%, 7d avg +0.074%
=Together, before fees−0.066%+ Points / potential airdropHyperliquid: Season 2 · farm board−$7 on $10k · with fees, hour by hour
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Katana Perps BTC-USD | 85,764 | 0.0100 | pay 0.0100% / 8h | 6h 46m | $210K | $7.5M | 50x |
| Short | Hyperliquid BTC | 85,842 | 0.0100 | get 0.0013% / 1h | 46m 15s | $3.77B | $5.03B | 40x |
Katana Perps BTC-USD
Hyperliquid BTCFunding history
latest
Range statsloading…
Price spread between the two exchanges
Hyperliquid against Katana Perps. 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
- $0.04
- Price spread: +0.091% → +0.074%
- $1.7
- Slippage, 4 orders
- no order book: not counted
- Fee Katana Perps: 1.9 bp × 2 orders
- −$3.8
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Net
- −$11.06
- Costs to cover
- 0.128%
- Break-even
- 1761.9 days
Slippage unknown: Katana Perps: no order-book sample; Hyperliquid: live order book, 8 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 Katana Perps no order-book sample | — | — | — | — | — |
| Sell Hyperliquid live order book, 8 min ago | 0.06 bp | 4.6 bp −$5 | 4.6 bp −$46 | 4.6 bp −$456 | doesn't fit |
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 | −0.0144% | 1h | 85,788 | +0.028% | $2.2M | $10.5M | 40x | as long as short |
| Hotstuff BTC-PERP | −0.0080% | 1h | 85,799 | +0.041% | $8K | $3K | 50x | as long as short |
| BloFin BTC-USDT | −0.0078% | 8h | 85,853 | +0.104% | $415.8M | $658.2M | 150x | as long as short |
| 01 Exchange BTCUSD | −0.0056% | 1h | 85,783.5 | +0.023% | $364K | $2.3M | 50x | as long as short |
| dYdX BTC-USD | 0.0000% | 1h | 85,814.4 | +0.059% | $16.8M | $20.6M | 50x | as long as short |
| Perpl BTC | 0.0000% | 43m | 85,827.2 | +0.074% | $513K | $21.3M | 6.7x | as long as short |
| gTrade (Gains Network) BTC/USD | L +0.0004% / S −0.0004% | 1h | 85,780.1 | +0.019% | $36.7M | — | 200x | as long as short |
| Injective BTC/USDC PERP | +0.0020% | 1h | 85,810 | +0.054% | $341K | $26.9M | 52x | as long as short |
| Aster BTCUSDT | +0.0037% | 8h | 85,791.1 | +0.032% | $497.5M | $1.13B | 200x | as long as short |
| KuCoin XBTUSDTM | +0.0041% | 8h | 85,769.1 | +0.006% | $894.4M | $757.2M | 125x | as long as short |
Phoenix BTC
Hotstuff BTC-PERP
BloFin BTC-USDT
01 Exchange BTCUSD
dYdX BTC-USD
Perpl BTC
gTrade (Gains Network) BTC/USD
Injective BTC/USDC PERP
Aster BTCUSDT
KuCoin XBTUSDTMShow all 56 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| RISEx BTC/USDC | +0.0044% | 1h | 85,799 | +0.041% | $8.1M | $42.6M | 25x | as long as short |
| BingX BTC-USDC | +0.0052% | 8h | 85,767.6 | +0.004% | — | $15.4M | — | as long as short |
| Reya BTCRUSDPERP | +0.0053% | 1h | 85,764.5 | +0.001% | $6.7M | $146.1M | 40x | as long as short |
| Bitget BTCUSDT | +0.0067% | 8h | 85,760.8 | −0.004% | $2.95B | $5.13B | 150x | as long as short |
| ApeX Omni BTCUSDT | +0.0075% | 1h | 85,863.8 | +0.116% | $140.4M | $320.9M | 100x | as long as short |
| Nado BTC-PERP | +0.0079% | 1h | 85,778.6 | +0.017% | $23.0M | $229.0M | 50x | as long as short |
| Aevo BTC-PERP | +0.0080% | 1h | 85,768.4 | +0.005% | $2.5M | $1.8M | 20x | as long as short |
| HTX BTC-USDT | +0.0081% | 8h | 85,766.7 | +0.003% | $2.27B | $968.9M | 200x | as long as short |
| MEXC BTC_USDT | +0.0086% | 8h | 85,776.5 | +0.015% | $5.09B | $5.66B | 500x | as long as short |
| Binance BTCUSDT | +0.0088% | 8h | 85,773.3 | +0.011% | $9.34B | $24.58B | 150x | as long as short |
| Gate BTC_USDT | +0.0089% | 8h | 85,779.9 | +0.019% | $5.66B | $10.38B | 200x | as long as short |
| Lighter BTC | +0.0096% | 1h | 85,781.9 | +0.021% | $169.9M | $978.1M | 50x | as long as short |
| Lighter RH BTC | +0.0096% | 1h | 85,785.4 | +0.025% | $23.3M | $145.2M | 50x | as long as short |
| Popdex BTCUSDT | +0.0096% | 1h | 85,789 | +0.029% | $8.4M | $52.5M | 100x | as long as short |
| Katana Perps BTC-USDlong | +0.0100% | 8h | 85,764 | long leg | $210K | $7.5M | 50x | |
| Paradex BTC-USD-PERP | +0.0100% | 8h | 85,838.5 | +0.087% | $3.8M | $8.7M | 50x | as long as short |
| Hyperliquid BTCshort | +0.0100% | 1h | 85,842 | +0.091% | $3.77B | $5.03B | 40x | |
| Pacifica BTC | +0.0100% | 1h | 85,831.2 | +0.078% | $40.9M | $569.6M | 50x | as long as short |
| Bybit BTCUSDT | +0.0100% | 8h | 85,791.1 | +0.032% | $5.27B | $9.81B | 150x | as long as short |
| OKX BTC-USDT-SWAP | +0.0100% | 8h | 85,789.8 | +0.030% | $2.55B | $12.53B | 100x | as long as short |
| Ondo Perps BTC-USD.P | +0.0100% | 1h | 85,786 | +0.026% | $3.9M | $17.8M | 25x | as long as short |
| Arcus BTC-USD | +0.0100% | 1h | 85,774 | +0.012% | $7.3M | $98.1M | 40x | as long as short |
| Backpack BTC_USDC_PERP | +0.0100% | 1h | 85,761.6 | −0.003% | $35.1M | $163.5M | 75x | as long as short |
| Variational Omni BTC | +0.0100% | 8h | 85,783.2 | +0.022% | $155.9M | $552.3M | — | as long as short |
| edgeX BTCUSDC | +0.0100% | 4h | 85,838.8 | +0.087% | $278.1M | $943.7M | 100x | as long as short |
| GRVT BTC_USDT_Perp | +0.0100% | 8h | 85,857.1 | +0.109% | $215.7M | $163.7M | 50x | as long as short |
| StandX BTC-USD | +0.0100% | 1h | 85,799.4 | +0.041% | $30.4M | $207.2M | 40x | as long as short |
| Vest BTC-PERP | +0.0100% | 1h | 85,835.4 | +0.083% | — | $11.8M | 50x | as long as short |
| Polymarket Perps BTC-USD | +0.0100% | 1h | 85,774 | +0.012% | $11.0M | $14.2M | 50x | as long as short |
| Bullet BTC-USD | +0.0100% | 1h | 85,783 | +0.022% | $191K | $3.3M | 20x | as long as short |
| Orderly PERP_BTC_USDC | +0.0100% | 8h | 85,768.8 | +0.006% | $2.4M | $9.1M | 100x | as long as short |
| Bluefin BTC-PERP | +0.0100% | 1h | 85,813.1 | +0.057% | $186K | $709K | 40x | as long as short |
| Derive BTC-PERP | +0.0100% | 1h | 85,785.6 | +0.025% | $30.0M | $57.4M | 15x | as long as short |
| SunX BTC-USDT | +0.0100% | 8h | 85,776.6 | +0.015% | $2.9M | $6.6M | 100x | as long as short |
| SoDEX BTC-USD | +0.0100% | 1h | 85,768 | +0.005% | $60.0M | $338.0M | 40x | as long as short |
| Phemex BTCUSDT | +0.0100% | 8h | 85,776.5 | +0.015% | $154.0M | $477.9M | 150x | as long as short |
| Bulk BTC-USD | +0.0100% | 1h | 85,804.9 | +0.048% | $582.3M | $118.5M | 40x | as long as short |
| Extended BTC-USD | +0.0104% | 1h | 85,746 | −0.021% | $44.7M | $226.9M | 50x | as long as short |
| Jupiter Perps WBTC-PERP | L +0.0104% / S +0.0056% | 1h | 85,795.6 | +0.037% | — | $101.4M | 500x | as long as short |
| Coinbase International BTC-PERP-INTX | +0.0112% | 1h | 85,807.8 | +0.051% | $131.6M | $5.26B | 50x | as long as short |
| Deribit BTC-PERPETUAL | +0.0119% | 1h | 85,810.3 | +0.054% | $895.5M | $1.54B | 50x | as long as short |
| Hibachi BTC/USDT-P | +0.0128% | 1h | 85,822.2 | +0.068% | $707K | $8.0M | 30x | as long as short |
| Kraken Futures PF_XBTUSD | +0.0146% | 1h | 85,797.7 | +0.039% | $189.0M | $970.4M | 100x | as long as short |
| Aftermath Perps BTCUSD | +0.0150% | 1h | 85,825.2 | +0.071% | $77K | $217K | 20x | as long as short |
| GMX BTC/USD [WBTC.b-USDC] | L +0.0204% / S −0.0194% | 1h | 85,778.6 | +0.017% | $13.8M | — | 200x | as long as short |
| Kalshi KXBTCPERP | +0.0205% | 8h | 85,816 | +0.061% | $9.9M | $769.2M | 6.4x | as long as short |
RISEx BTC/USDC
BingX BTC-USDC
Reya BTCRUSDPERP
Bitget BTCUSDT
ApeX Omni BTCUSDT
Nado BTC-PERP
Aevo BTC-PERP
HTX BTC-USDT
MEXC BTC_USDT
Binance BTCUSDT
Gate BTC_USDT
Lighter BTC
Lighter RH BTC
Popdex BTCUSDT
Paradex BTC-USD-PERP
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
StandX BTC-USD
Vest BTC-PERP
Polymarket Perps BTC-USD
Bullet BTC-USD
Orderly PERP_BTC_USDC
Bluefin BTC-PERP
Derive BTC-PERP
SunX BTC-USDT
SoDEX BTC-USD
Phemex BTCUSDT
Bulk BTC-USD
Extended BTC-USD
Jupiter Perps WBTC-PERP
Coinbase International BTC-PERP-INTX
Deribit BTC-PERPETUAL
Hibachi BTC/USDT-P
Kraken Futures PF_XBTUSD
Aftermath Perps BTCUSD
GMX BTC/USD [WBTC.b-USDC]
Kalshi KXBTCPERP