Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment −$0.00 per $10,000 · paid last 24h +0.017%
Price spread now: Katana Perps against Phemex−0.005%7-day average −0.015% · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 4 days (all we have)+0.050%+$5 on $10k
+Price spread, last 4 days (all we have)+0.022%+$2 · spread now −0.005%, 7d avg −0.015%
=| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phemex BTCUSDT | 85,441.6 | 0.0100 | pay 0.0100% / 8h | 1h 14m | $154.6M | $512.0M | 150x |
| Short | Katana Perps BTC-USD | 85,437 | 0.0100 | get 0.0100% / 8h | 1h 14m | $245K | $8.7M | 50x |
Phemex BTCUSDT
Katana Perps BTC-USDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Katana Perps against Phemex. 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: −0.005% → −0.015%
- $0.93
- Slippage, 4 orders
- no order book: not counted
- Fee Phemex: 6 bp × 2 orders
- −$12
- Fee Katana Perps: 1.9 bp × 2 orders
- −$3.8
- Net
- −$14.92
- Costs to cover
- 0.158%
- Break-even
- never at this rate
Slippage unknown: Phemex: live order book, 5 min ago; Katana Perps: no order-book sample. 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 Phemex live order book, 5 min ago | 0.01 bp | 6.6 bp −$7 | 7.3 bp −$73 | 8.7 bp −$872 | doesn't fit |
| 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: 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 | −0.0082% | 1h | 85,513 | +0.084% | $2.2M | $10.4M | 40x | as long as short |
| Hotstuff BTC-PERP | −0.0080% | 1h | 85,454 | +0.015% | $8K | $3K | 50x | as long as short |
| KuCoin XBTUSDTM | −0.0037% | 8h | 85,442 | 0.000% | $929.5M | $775.0M | 125x | as long as short |
| BloFin BTC-USDT | −0.0021% | 8h | 85,463.7 | +0.026% | $419.8M | $682.3M | 150x | as long as short |
| Aster BTCUSDT | −0.0002% | 8h | 85,444 | +0.003% | $513.0M | $1.09B | 200x | as long as short |
| 01 Exchange BTCUSD | 0.0000% | 1h | 85,461.9 | +0.024% | $352K | $2.4M | 50x | as long as short |
| Perpl BTC | 0.0000% | 43m | 85,500.1 | +0.068% | $490K | $18.4M | 6.7x | as long as short |
| dYdX BTC-USD | +0.0001% | 1h | 85,473.9 | +0.038% | $16.7M | $21.2M | 50x | as long as short |
| gTrade (Gains Network) BTC/USD | L +0.0004% / S −0.0004% | 1h | 85,474.3 | +0.038% | $36.6M | — | 200x | as long as short |
| Nado BTC-PERP | +0.0044% | 1h | 85,455.1 | +0.016% | $24.2M | $222.3M | 50x | as long as short |
Phoenix BTC
Hotstuff BTC-PERP
KuCoin XBTUSDTM
BloFin BTC-USDT
Aster BTCUSDT
01 Exchange BTCUSD
Perpl BTC
dYdX BTC-USD
gTrade (Gains Network) BTC/USD
Nado BTC-PERPShow all 55 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Injective BTC/USDC PERP | +0.0057% | 1h | 85,247 | −0.228% | $338K | $26.8M | 52x | as long as short |
| BingX BTC-USDC | +0.0073% | 8h | 85,417.5 | −0.028% | — | $17.5M | — | as long as short |
| Popdex BTCUSDT | +0.0088% | 1h | 85,484 | +0.050% | $8.5M | $56.7M | 100x | as long as short |
| Kraken Futures PF_XBTUSD | +0.0089% | 1h | 85,447 | +0.006% | $186.0M | $953.8M | 100x | as long as short |
| Bitget BTCUSDT | +0.0091% | 8h | 85,434 | −0.009% | $2.97B | $5.16B | 150x | as long as short |
| Lighter BTC | +0.0096% | 1h | 85,473.7 | +0.038% | $170.1M | $1.03B | 50x | as long as short |
| Lighter RH BTC | +0.0096% | 1h | 85,472 | +0.036% | $23.6M | $148.4M | 50x | as long as short |
| Aevo BTC-PERP | +0.0096% | 1h | 85,429.6 | −0.014% | $2.4M | $6.7M | 20x | as long as short |
| Bybit BTCUSDT | +0.0097% | 8h | 85,427 | −0.017% | $5.14B | $9.99B | 150x | as long as short |
| MEXC BTC_USDT | +0.0098% | 8h | 85,438 | −0.004% | $5.03B | $5.78B | 500x | as long as short |
| Binance BTCUSDT | +0.0099% | 8h | 85,434.1 | −0.009% | $9.43B | $24.93B | 150x | as long as short |
| Katana Perps BTC-USDshort | +0.0100% | 8h | 85,437 | −0.005% | $245K | $8.7M | 50x | |
| Paradex BTC-USD-PERP | +0.0100% | 8h | 85,518.9 | +0.090% | $5.8M | $9.6M | 50x | as long as short |
| Hyperliquid BTC | +0.0100% | 1h | 85,528.1 | +0.101% | $3.75B | $5.08B | 40x | as long as short |
| Pacifica BTC | +0.0100% | 1h | 85,492.2 | +0.059% | $40.1M | $603.8M | 50x | as long as short |
| OKX BTC-USDT-SWAP | +0.0100% | 8h | 85,437.5 | −0.005% | $2.60B | $12.21B | 100x | as long as short |
| Ondo Perps BTC-USD.P | +0.0100% | 1h | 85,449 | +0.009% | $3.8M | $17.1M | 25x | as long as short |
| Arcus BTC-USD | +0.0100% | 1h | 85,443.1 | +0.002% | $5.1M | $97.3M | 40x | as long as short |
| Bulk BTC-USD | +0.0100% | 1h | 85,499.5 | +0.068% | $686.3M | $379.3M | 40x | as long as short |
| Gate BTC_USDT | +0.0100% | 8h | 85,443.6 | +0.002% | $5.56B | $11.07B | 200x | as long as short |
| Backpack BTC_USDC_PERP | +0.0100% | 1h | 85,452.6 | +0.013% | $37.2M | $179.1M | 75x | as long as short |
| Variational Omni BTC | +0.0100% | 8h | 85,450.4 | +0.010% | $156.4M | $558.0M | — | as long as short |
| edgeX BTCUSDC | +0.0100% | 4h | 85,505.1 | +0.074% | $280.1M | $953.6M | 100x | as long as short |
| GRVT BTC_USDT_Perp | +0.0100% | 8h | 85,525 | +0.098% | $214.7M | $164.4M | 50x | as long as short |
| ApeX Omni BTCUSDT | +0.0100% | 1h | 85,519 | +0.091% | $139.8M | $313.5M | 100x | as long as short |
| StandX BTC-USD | +0.0100% | 1h | 85,466.6 | +0.029% | $30.1M | $206.4M | 40x | as long as short |
| Vest BTC-PERP | +0.0100% | 1h | 85,509.2 | +0.079% | — | $10.2M | 50x | as long as short |
| Polymarket Perps BTC-USD | +0.0100% | 1h | 85,445 | +0.004% | $11.0M | $14.6M | 50x | as long as short |
| Bullet BTC-USD | +0.0100% | 1h | 85,438 | −0.004% | $199K | $3.3M | 20x | as long as short |
| Orderly PERP_BTC_USDC | +0.0100% | 8h | 85,438.5 | −0.004% | $2.6M | $9.7M | 100x | as long as short |
| Bluefin BTC-PERP | +0.0100% | 1h | 85,476.9 | +0.041% | $194K | $796K | 40x | as long as short |
| SunX BTC-USDT | +0.0100% | 8h | 85,451.2 | +0.011% | $2.9M | $6.1M | 100x | as long as short |
| SoDEX BTC-USD | +0.0100% | 1h | 85,433 | −0.010% | $59.8M | $336.7M | 40x | as long as short |
| HTX BTC-USDT | +0.0100% | 8h | 85,436 | −0.007% | $2.26B | $963.7M | 200x | as long as short |
| Phemex BTCUSDTlong | +0.0100% | 8h | 85,441.6 | long leg | $154.6M | $512.0M | 150x | |
| Extended BTC-USD | +0.0104% | 1h | 85,407.3 | −0.040% | $44.9M | $240.0M | 50x | as long as short |
| Jupiter Perps WBTC-PERP | L +0.0104% / S +0.0056% | 1h | 85,471 | +0.034% | — | $104.6M | 500x | as long as short |
| Coinbase International BTC-PERP-INTX | +0.0104% | 1h | 85,468 | +0.031% | $113.0M | $5.49B | 50x | as long as short |
| Deribit BTC-PERPETUAL | +0.0131% | 1h | 85,480.6 | +0.046% | $861.3M | $1.63B | 50x | as long as short |
| Reya BTCRUSDPERP | +0.0132% | 1h | 85,431.5 | −0.012% | $6.6M | $147.7M | 40x | as long as short |
| Kalshi KXBTCPERP | +0.0183% | 8h | 85,493 | +0.060% | $11.9M | $741.5M | 6.4x | as long as short |
| RISEx BTC/USDC | +0.0193% | 1h | 85,477.9 | +0.042% | $8.8M | $42.6M | 25x | as long as short |
| GMX BTC/USD [WBTC.b-USDC] | L +0.0200% / S −0.0176% | 1h | 85,472.1 | +0.036% | $13.1M | — | 200x | as long as short |
| Hibachi BTC/USDT-P | +0.0224% | 1h | 85,514.1 | +0.085% | $686K | $7.8M | 30x | as long as short |
| Aftermath Perps BTCUSD | +0.0257% | 1h | 85,496.9 | +0.065% | $79K | $231K | 20x | as long as short |
Injective BTC/USDC PERP
BingX BTC-USDC
Popdex BTCUSDT
Kraken Futures PF_XBTUSD
Bitget BTCUSDT
Lighter BTC
Lighter RH BTC
Aevo BTC-PERP
Bybit BTCUSDT
MEXC BTC_USDT
Binance BTCUSDT
Paradex BTC-USD-PERP
Hyperliquid BTC
Pacifica BTC
OKX BTC-USDT-SWAP
Ondo Perps BTC-USD.P
Arcus BTC-USD
Bulk BTC-USD
Gate BTC_USDT
Backpack BTC_USDC_PERP
Variational Omni BTC
edgeX BTCUSDC
GRVT BTC_USDT_Perp
ApeX Omni BTCUSDT
StandX BTC-USD
Vest BTC-PERP
Polymarket Perps BTC-USD
Bullet BTC-USD
Orderly PERP_BTC_USDC
Bluefin BTC-PERP
SunX BTC-USDT
SoDEX BTC-USD
HTX BTC-USDT
Extended BTC-USD
Jupiter Perps WBTC-PERP
Coinbase International BTC-PERP-INTX
Deribit BTC-PERPETUAL
Reya BTCRUSDPERP
Kalshi KXBTCPERP
RISEx BTC/USDC
GMX BTC/USD [WBTC.b-USDC]
Hibachi BTC/USDT-P
Aftermath Perps BTCUSD