BTC

Alert: funding

Alert: spread

Funding you earn now, next payment 21:00 UTC−0.0112%/8h= −12.3% APRnext payment −$0.14 per $10,000 · paid last 24h −0.029%

Price spread now: 01 Exchange against Popdex+0.029%7-day average −0.007% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$12as in the Price arb table

costs, in and out, $10k−$160.155% of the position

Long on Popdex Short on 01 Exchange

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.086%−$9 on $10k

Price spread, last 7 days−0.020%−$2 · spread now +0.029%, 7d avg −0.007%

Together, before fees−0.106%−$11 on $10k · with fees, hour by hour

The price spread pays, funding is against you. 01 Exchange is 0.036% dearer against Popdex than usual: you sell high and buy low (spread +0.029% now, against its 7-day average of −0.007%): +$4 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 26 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Popdex BTCUSDT	87,255	0.0096	pay 0.0012% / 1h	31m 31s	$8.6M	$51.7M	100x
Short	01 Exchange BTCUSD	87,280.5	−0.0016	pay 0.0002% / 1h	31m 31s	$295K	$2.4M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

01 Exchange against Popdex. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee PopdexbpFee 01 ExchangebpOrdersPrice spread, now +0.029%Rate

Funding earned: −$23.52
Price spread: +0.029% → −0.007%: $3.64
Slippage, 4 orders: −$2.15
Fee Popdex: 3.2 bp × 2 orders: −$6.4
Fee 01 Exchange: 3.5 bp × 2 orders: −$7
Net: −$35.43
Costs to cover: 0.155%
Break-even: never at this rate

Slippage from Popdex: live order book, 3 min ago; 01 Exchange: live order book, 3 min ago.

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 Popdex live order book, 3 min ago	0.17 bp	3.7 bp −$4	3.9 bp −$39	4.4 bp −$437	7.4 bp −$3,714
Sell 01 Exchange live order book, 3 min ago	0.01 bp	4.4 bp −$4	9.8 bp −$98	doesn't fit	doesn't fit

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
dYdX BTC-USD	−0.0132%	1h	87,273.6	+0.021%	$18.3M	$19.7M	50x	as long as short
Phoenix BTC	−0.0123%	1h	86,923	−0.380%	$2.2M	$12.0M	40x	as long as short
Perpl BTC	−0.0112%	43m	87,252.2	−0.003%	$415K	$25.9M	6.7x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	87,251	−0.005%	$9K	$3K	50x	as long as short
Aftermath Perps BTCUSD	−0.0037%	1h	86,966.3	−0.331%	$87K	$180K	20x	as long as short
ApeX Omni BTCUSDT	−0.0034%	1h	86,865.4	−0.447%	$141.8M	$321.8M	100x	as long as short
01 Exchange BTCUSDshort	−0.0016%	1h	87,280.5	+0.029%	$295K	$2.4M	50x
KuCoin XBTUSDTM	−0.0005%	8h	87,237.4	−0.020%	$838.6M	$694.6M	125x	as long as short
Phemex BTCUSDT	−0.0003%	8h	87,309.5	+0.062%	$154.2M	$455.7M	150x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0005% / S −0.0004%	1h	87,239.9	−0.017%	$37.3M	—	200x	as long as short

Show all 56 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX BTC-USDC	+0.0010%	8h	87,254.5	−0.001%	—	$15.2M	—	as long as short
RISEx BTC/USDC	+0.0010%	1h	87,293.1	+0.044%	$8.7M	$40.9M	25x	as long as short
Bitget BTCUSDT	+0.0013%	8h	87,264.2	+0.011%	$2.98B	$5.04B	150x	as long as short
Reya BTCRUSDPERP	+0.0016%	1h	87,205.7	−0.056%	$7.0M	$141.8M	40x	as long as short
Aster BTCUSDT	+0.0035%	8h	87,270.2	+0.017%	$510.7M	$1.16B	200x	as long as short
Injective BTC/USDC PERP	+0.0035%	1h	86,952	−0.347%	$328K	$26.9M	52x	as long as short
OKX BTC-USDT-SWAP	+0.0036%	8h	87,266.6	+0.013%	$2.63B	$12.63B	100x	as long as short
Kraken Futures PF_XBTUSD	+0.0041%	1h	87,378.8	+0.142%	$198.8M	$914.1M	100x	as long as short
MEXC BTC_USDT	+0.0044%	8h	87,246.1	−0.010%	$5.19B	$5.51B	500x	as long as short
Binance BTCUSDT	+0.0044%	8h	87,258.6	+0.004%	$9.58B	$23.99B	150x	as long as short
Aevo BTC-PERP	+0.0048%	1h	87,352.7	+0.112%	$2.4M	$1.3M	20x	as long as short
Gate BTC_USDT	+0.0060%	8h	87,258.2	+0.004%	$5.96B	$10.44B	200x	as long as short
SoDEX BTC-USD	+0.0066%	1h	87,323	+0.078%	$61.6M	$312.0M	40x	as long as short
Bybit BTCUSDT	+0.0078%	8h	87,260.6	+0.006%	$5.35B	$9.56B	150x	as long as short
Deribit BTC-PERPETUAL	+0.0085%	1h	87,381.4	+0.145%	$933.4M	$1.32B	50x	as long as short
Bulk BTC-USD	+0.0090%	1h	87,280.5	+0.029%	$575.7M	$25.9M	40x	as long as short
Orderly PERP_BTC_USDC	+0.0091%	8h	87,323.6	+0.079%	$2.5M	$8.2M	100x	as long as short
Variational Omni BTC	+0.0092%	8h	86,903.5	−0.403%	$165.1M	$544.5M	—	as long as short
Lighter BTC	+0.0096%	1h	87,262.8	+0.009%	$174.5M	$999.5M	50x	as long as short
Lighter RH BTC	+0.0096%	1h	87,268.1	+0.015%	$24.6M	$148.5M	50x	as long as short
GRVT BTC_USDT_Perp	+0.0096%	8h	86,876.6	−0.434%	$218.0M	$185.7M	50x	as long as short
Popdex BTCUSDTlong	+0.0096%	1h	87,255	long leg	$8.6M	$51.7M	100x
Paradex BTC-USD-PERP	+0.0099%	8h	87,306.1	+0.059%	$4.4M	$7.7M	50x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	87,267	+0.014%	$186K	$6.6M	50x	as long as short
Nado BTC-PERP	+0.0100%	1h	87,238.6	−0.019%	$23.4M	$235.0M	50x	as long as short
Pacifica BTC	+0.0100%	1h	87,279.9	+0.028%	$37.0M	$459.3M	50x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	87,281	+0.030%	$4.0M	$18.8M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	87,337.1	+0.094%	$7.5M	$93.9M	40x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	87,283.1	+0.032%	$38.8M	$143.2M	75x	as long as short
edgeX BTCUSDC	+0.0100%	4h	86,866.8	−0.445%	$285.4M	$919.2M	100x	as long as short
StandX BTC-USD	+0.0100%	1h	86,875.9	−0.435%	$30.8M	$206.1M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	87,314.4	+0.068%	—	$11.6M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	87,230	−0.029%	$11.1M	$13.6M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	87,224.7	−0.035%	$240K	$3.4M	20x	as long as short
Bluefin BTC-PERP	+0.0100%	1h	87,296.6	+0.048%	$161K	$574K	40x	as long as short
Derive BTC-PERP	+0.0100%	1h	87,329.1	+0.085%	$30.2M	$60.6M	15x	as long as short
SunX BTC-USDT	+0.0100%	8h	87,341.9	+0.100%	$3.5M	$5.7M	100x	as long as short
HTX BTC-USDT	+0.0100%	8h	87,303.5	+0.056%	$2.32B	$932.8M	200x	as long as short
Extended BTC-USD	+0.0104%	1h	87,256.6	+0.002%	$46.7M	$227.7M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0048%	1h	87,135.9	−0.136%	—	$89.0M	500x	as long as short
Kalshi KXBTCPERP	+0.0111%	8h	87,291	+0.041%	$9.5M	$714.3M	6.4x	as long as short
Hibachi BTC/USDT-P	+0.0112%	1h	86,949.1	−0.351%	$602K	$6.8M	30x	as long as short
Coinbase International BTC-PERP-INTX	+0.0136%	1h	87,397	+0.163%	$132.3M	$5.99B	50x	as long as short
BloFin BTC-USDT	+0.0165%	8h	86,924.3	−0.379%	$422.5M	$630.4M	150x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0177% / S −0.0193%	1h	87,235.4	−0.022%	$13.9M	—	200x	as long as short
Hyperliquid BTC	+0.0265%	1h	87,384	+0.148%	$4.04B	$4.92B	40x	as long as short