BTC

Alert

Funding spread now, next payment 15:00 UTC−0.0058%/8h

paid, last 24h−0.005%paid, last 3 days+0.076%to open and closeno order book

Long on Katana Perps Short on Kraken Futures

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Katana Perps BTC-USD	85,902	0.0100	pay 0.0100% / 8h	1h 23m	$202K	$5.1M	50x
Short	Kraken Futures PF_XBTUSD	85,980.2	0.0042	get 0.0005% / 1h	23m 12s	$185.7M	$771.5M	100x

Funding history

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Funding on every exchange

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Profit calculator

Position, each leg$Hold fordaysFee Katana PerpsbpFee Kraken FuturesbpOrdersRate

Funding earned: −$12.12
Slippage, 4 orders: no order book: not counted
Fee Katana Perps: 1.9 bp × 2 orders: −$3.8
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$25.92
Break-even: never at this rate

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

Price risk

price view

Price gap now: +0.091%
Avg gap 7d: +0.027%

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 Kraken Futures live order book, 2 min ago	0.06 bp	5.2 bp −$5	5.9 bp −$59	7.4 bp −$735	10.6 bp −$5,316

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	$389K	$30.8M	6.7x	as long as short
Bluefin BTC-PERP	−0.0320%	1h	$143K	$402K	40x	as long as short
edgeX BTCUSDC	−0.0108%	4h	$285.7M	$816.6M	100x	as long as short
01 Exchange BTCUSD	−0.0104%	1h	$281K	$2.3M	50x	as long as short
Aftermath Perps BTCUSD	−0.0087%	1h	$87K	$144K	20x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	$8K	$3K	50x	as long as short
ApeX Omni BTCUSDT	−0.0035%	1h	$139.0M	$317.1M	100x	as long as short
Reya BTCRUSDPERP	−0.0030%	1h	$6.7M	$137.3M	40x	as long as short
Phemex BTCUSDT	−0.0020%	8h	$159.4M	$381.0M	150x	as long as short
Gate BTC_USDT	−0.0010%	8h	$6.10B	$8.79B	200x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	OI	Vol 24h	Max lev
Bitget BTCUSDT	−0.0009%	8h	$2.98B	$4.38B	150x	as long as short
BingX BTC-USDT	−0.0009%	8h	—	$1.32B	—	as long as short
dYdX BTC-USD	−0.0007%	1h	$17.3M	$15.3M	50x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0005% / S −0.0004%	1h	$36.8M	—	200x	as long as short
Phoenix BTC	+0.0015%	1h	$1.6M	$10.8M	40x	as long as short
SoDEX BTC-USD	+0.0024%	1h	$61.3M	$258.9M	40x	as long as short
HTX BTC-USDT	+0.0042%	8h	$2.30B	$795.9M	200x	as long as short
Kraken Futures PF_XBTUSDshort	+0.0042%	1h	$185.7M	$771.5M	100x
Aster BTCUSDT	+0.0043%	8h	$489.8M	$1.05B	200x	as long as short
OKX BTC-USDT-SWAP	+0.0047%	8h	$2.59B	$10.97B	100x	as long as short
Hibachi BTC/USDT-P	+0.0056%	1h	$608K	$7.2M	30x	as long as short
KuCoin XBTUSDTM	+0.0062%	8h	$790.7M	$590.3M	125x	as long as short
Bullet BTC-USD	+0.0069%	1h	$246K	$3.3M	20x	as long as short
Nado BTC-PERP	+0.0074%	1h	$23.9M	$225.8M	50x	as long as short
Paradex BTC-USD-PERP	+0.0083%	8h	$4.3M	$6.5M	50x	as long as short
Popdex BTCUSDT	+0.0088%	1h	$8.5M	$41.8M	100x	as long as short
MEXC BTC_USDT	+0.0088%	8h	$5.00B	$4.81B	500x	as long as short
Aevo BTC-PERP	+0.0088%	1h	$2.4M	$1.6M	20x	as long as short
Binance BTCUSDT	+0.0088%	8h	$9.62B	$20.27B	150x	as long as short
Lighter BTC	+0.0096%	1h	$177.7M	$881.4M	50x	as long as short
Lighter RH BTC	+0.0096%	1h	$25.2M	$135.2M	50x	as long as short
Katana Perps BTC-USDlong	+0.0100%	8h	$202K	$5.1M	50x
Pacifica BTC	+0.0100%	1h	$37.0M	$323.4M	50x	as long as short
Bybit BTCUSDT	+0.0100%	8h	$5.13B	$8.06B	150x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	$3.9M	$15.7M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	$5.5M	$79.1M	40x	as long as short
Bulk BTC-USD	+0.0100%	1h	$537.2M	$59.9M	40x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	$39.6M	$99.6M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	$174.3M	$469.7M	—	as long as short
StandX BTC-USD	+0.0100%	1h	$30.7M	$244.2M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	—	$13.2M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	$10.9M	$10.9M	50x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	$2.4M	$6.8M	100x	as long as short
Derive BTC-PERP	+0.0100%	1h	$29.0M	$56.7M	15x	as long as short
SunX BTC-USDT	+0.0100%	8h	$3.3M	$5.5M	100x	as long as short
Kalshi KXBTCPERP	+0.0101%	8h	$9.3M	$520.1M	6.4x	as long as short
Extended BTC-USD	+0.0104%	1h	$47.4M	$202.6M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0048%	1h	—	$87.3M	500x	as long as short
Coinbase International BTC-PERP-INTX	+0.0112%	1h	$146.4M	$6.21B	50x	as long as short
Hyperliquid BTC	+0.0149%	1h	$3.87B	$4.15B	40x	as long as short
RISEx BTC/USDC	+0.0178%	1h	$8.7M	$37.3M	25x	as long as short
Injective BTC/USDC PERP	+0.0180%	1h	$308K	$27.0M	52x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0200% / S −0.0207%	1h	$13.4M	—	200x	as long as short
BloFin BTC-USDT	+0.0208%	8h	$425.1M	$496.5M	150x	as long as short
Deribit BTC-PERPETUAL	+0.0305%	1h	$859.7M	$972.8M	50x	as long as short