BTC

Alert

Funding spread now, next payment 15:00 UTC+0.0004%/8h

paid, last 24h+0.001%paid, last 3 days−0.096%to open and closeno order book

Long on Lighter RH Short on Katana Perps

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter RH BTC	85,401.4	0.0096	pay 0.0012% / 1h	37m 32s	$25.5M	$132.3M	50x
Short	Katana Perps BTC-USD	85,398	0.0100	get 0.0100% / 8h	1h 37m	$195K	$5.0M	50x

Funding history

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Funding on every exchange

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Profit calculator

Position, each leg$Hold fordaysFee Lighter RHbpFee Katana PerpsbpOrdersRate

Funding earned: $0.8
Slippage, 4 orders: no order book: not counted
Fee Lighter RH: 0 bp × 2 orders: $0
Fee Katana Perps: 1.9 bp × 2 orders: −$3.8
Net: −$3
Break-even: 33.4 days

Slippage unknown: Lighter RH: live order book, 3 min ago; Katana Perps: no order-book sample. Net counts fees only.

Price risk

price view

Price gap now: −0.004%
Avg gap 7d: −0.041%

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 Lighter RH live order book, 3 min ago	0.72 bp	0.8 bp −$1	0.9 bp −$9	3.2 bp −$325	21.9 bp −$11.0K
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 55 venues

lowest funding first. Swap a leg.

Exchange	Funding /8h	Every	OI	Vol 24h	Max lev
Bluefin BTC-PERP	−0.0962%	1h	$142K	$400K	40x	as long as short
Perpl BTC	−0.0447%	43m	$400K	$31.1M	6.7x	as long as short
edgeX BTCUSDC	−0.0110%	4h	$284.1M	$801.8M	100x	as long as short
ApeX Omni BTCUSDT	−0.0103%	1h	$138.3M	$316.8M	100x	as long as short
01 Exchange BTCUSD	−0.0088%	1h	$279K	$2.3M	50x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	$8K	$3K	50x	as long as short
Aftermath Perps BTCUSD	−0.0061%	1h	$83K	$140K	20x	as long as short
Reya BTCRUSDPERP	−0.0032%	1h	$6.8M	$137.4M	40x	as long as short
Gate BTC_USDT	−0.0015%	8h	$6.04B	$8.57B	200x	as long as short
Bitget BTCUSDT	−0.0010%	8h	$2.96B	$4.28B	150x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	OI	Vol 24h	Max lev
BingX BTC-USDC	−0.0010%	8h	—	$14.4M	—	as long as short
Phemex BTCUSDT	−0.0005%	8h	$157.7M	$374.8M	150x	as long as short
dYdX BTC-USD	0.0000%	1h	$16.5M	$14.3M	50x	as long as short
Kalshi KXBTCPERP	0.0000%	8h	$8.7M	$504.8M	6.4x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0004% / S −0.0004%	1h	$36.5M	—	200x	as long as short
Phoenix BTC	+0.0015%	1h	$1.6M	$10.8M	40x	as long as short
SoDEX BTC-USD	+0.0019%	1h	$61.2M	$234.6M	40x	as long as short
HTX BTC-USDT	+0.0034%	8h	$2.29B	$780.8M	200x	as long as short
Aster BTCUSDT	+0.0036%	8h	$494.2M	$1.02B	200x	as long as short
Kraken Futures PF_XBTUSD	+0.0042%	1h	$187.5M	$752.6M	100x	as long as short
OKX BTC-USDT-SWAP	+0.0053%	8h	$2.56B	$10.70B	100x	as long as short
KuCoin XBTUSDTM	+0.0064%	8h	$802.9M	$578.0M	125x	as long as short
Bullet BTC-USD	+0.0073%	1h	$248K	$3.3M	20x	as long as short
Nado BTC-PERP	+0.0074%	1h	$23.9M	$222.0M	50x	as long as short
Derive BTC-PERP	+0.0081%	1h	$28.3M	$55.9M	15x	as long as short
Paradex BTC-USD-PERP	+0.0082%	8h	$4.3M	$6.5M	50x	as long as short
Aevo BTC-PERP	+0.0088%	1h	$2.4M	$1.7M	20x	as long as short
MEXC BTC_USDT	+0.0090%	8h	$4.94B	$4.68B	500x	as long as short
Binance BTCUSDT	+0.0090%	8h	$9.55B	$19.65B	150x	as long as short
Lighter BTC	+0.0096%	1h	$182.3M	$857.2M	50x	as long as short
Lighter RH BTClong	+0.0096%	1h	$25.5M	$132.3M	50x
Popdex BTCUSDT	+0.0096%	1h	$8.4M	$40.9M	100x	as long as short
Katana Perps BTC-USDshort	+0.0100%	8h	$195K	$5.0M	50x
Pacifica BTC	+0.0100%	1h	$36.5M	$317.3M	50x	as long as short
Bybit BTCUSDT	+0.0100%	8h	$5.08B	$7.85B	150x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	$3.9M	$15.5M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	$6.0M	$77.5M	40x	as long as short
Bulk BTC-USD	+0.0100%	1h	$533.0M	$59.2M	40x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	$39.4M	$100.5M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	$173.7M	$467.5M	—	as long as short
StandX BTC-USD	+0.0100%	1h	$30.5M	$245.9M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	—	$13.1M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	$10.8M	$10.6M	50x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	$2.4M	$6.7M	100x	as long as short
SunX BTC-USDT	+0.0100%	8h	$3.3M	$5.3M	100x	as long as short
Extended BTC-USD	+0.0104%	1h	$47.4M	$200.5M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0048%	1h	—	$85.5M	500x	as long as short
Coinbase International BTC-PERP-INTX	+0.0112%	1h	$142.8M	$6.13B	50x	as long as short
Hibachi BTC/USDT-P	+0.0120%	1h	$602K	$7.3M	30x	as long as short
Hyperliquid BTC	+0.0122%	1h	$3.85B	$4.09B	40x	as long as short
RISEx BTC/USDC	+0.0178%	1h	$8.8M	$36.7M	25x	as long as short
Injective BTC/USDC PERP	+0.0180%	1h	$306K	$27.0M	52x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0199% / S −0.0205%	1h	$13.4M	—	200x	as long as short
BloFin BTC-USDT	+0.0212%	8h	$421.4M	$482.2M	150x	as long as short
Deribit BTC-PERPETUAL	+0.0446%	1h	$850.5M	$934.5M	50x	as long as short