BTC

Alert

Funding spread now, next payment 15:00 UTC+0.0130%/8h

paid, last 24h+0.031%paid, last 3 days+0.012%to open and closeno order book

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Reya BTCRUSDPERP	85,770	−0.0030	get 0.0004% / 1h	25m 56s	$6.8M	$137.2M	40x
Short	Katana Perps BTC-USD	85,753	0.0100	get 0.0100% / 8h	1h 25m	$197K	$5.0M	50x

Funding history

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Funding on every exchange

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Profit calculator

Position, each leg$Hold fordaysFee ReyabpFee Katana PerpsbpOrdersRate

Funding earned: $27.32
Slippage, 4 orders: no order book: not counted
Fee Reya: 3 bp × 2 orders: −$6
Fee Katana Perps: 1.9 bp × 2 orders: −$3.8
Net: $17.52
Break-even: 2.5 days

Slippage unknown: Reya: no order-book sample; Katana Perps: no order-book sample. Net counts fees only.

Price risk

price view

Price gap now: −0.020%
Avg gap 7d: +0.005%

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 Reya no order-book sample	—	—	—	—	—
Sell Katana Perps no order-book sample	—	—	—	—	—

Reya and 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	$390K	$30.9M	6.7x	as long as short
Bluefin BTC-PERP	−0.0399%	1h	$143K	$402K	40x	as long as short
edgeX BTCUSDC	−0.0112%	4h	$285.2M	$811.1M	100x	as long as short
01 Exchange BTCUSD	−0.0104%	1h	$284K	$2.3M	50x	as long as short
Aftermath Perps BTCUSD	−0.0083%	1h	$86K	$143K	20x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	$8K	$3K	50x	as long as short
ApeX Omni BTCUSDT	−0.0036%	1h	$138.4M	$317.0M	100x	as long as short
Reya BTCRUSDPERPlong	−0.0030%	1h	$6.8M	$137.2M	40x
Phemex BTCUSDT	−0.0015%	8h	$158.9M	$380.0M	150x	as long as short
Gate BTC_USDT	−0.0010%	8h	$6.08B	$8.73B	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	$4.36B	150x	as long as short
BingX BTC-USDT	−0.0009%	8h	—	$1.31B	—	as long as short
dYdX BTC-USD	0.0000%	1h	$16.7M	$14.7M	50x	as long as short
Kalshi KXBTCPERP	0.0000%	8h	$9.1M	$516.8M	6.4x	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	+0.0027%	1h	$61.1M	$258.7M	40x	as long as short
Aster BTCUSDT	+0.0039%	8h	$489.1M	$1.04B	200x	as long as short
HTX BTC-USDT	+0.0040%	8h	$2.30B	$790.8M	200x	as long as short
Kraken Futures PF_XBTUSD	+0.0042%	1h	$187.0M	$768.0M	100x	as long as short
OKX BTC-USDT-SWAP	+0.0049%	8h	$2.58B	$10.92B	100x	as long as short
KuCoin XBTUSDTM	+0.0063%	8h	$793.0M	$587.4M	125x	as long as short
Bullet BTC-USD	+0.0066%	1h	$248K	$3.3M	20x	as long as short
Nado BTC-PERP	+0.0072%	1h	$23.6M	$224.3M	50x	as long as short
Hibachi BTC/USDT-P	+0.0072%	1h	$615K	$7.2M	30x	as long as short
Aevo BTC-PERP	+0.0080%	1h	$2.4M	$1.6M	20x	as long as short
Paradex BTC-USD-PERP	+0.0083%	8h	$4.3M	$6.5M	50x	as long as short
MEXC BTC_USDT	+0.0087%	8h	$4.98B	$4.78B	500x	as long as short
Binance BTCUSDT	+0.0087%	8h	$9.62B	$20.08B	150x	as long as short
Popdex BTCUSDT	+0.0088%	1h	$8.5M	$41.4M	100x	as long as short
Lighter BTC	+0.0096%	1h	$178.0M	$876.2M	50x	as long as short
Lighter RH BTC	+0.0096%	1h	$25.3M	$134.5M	50x	as long as short
Katana Perps BTC-USDshort	+0.0100%	8h	$197K	$5.0M	50x
Pacifica BTC	+0.0100%	1h	$36.9M	$323.4M	50x	as long as short
Bybit BTCUSDT	+0.0100%	8h	$5.10B	$8.01B	150x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	$3.9M	$15.6M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	$6.0M	$78.0M	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	$100.7M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	$174.8M	$467.7M	—	as long as short
StandX BTC-USD	+0.0100%	1h	$30.6M	$244.8M	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	$10.8M	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	$28.9M	$56.7M	15x	as long as short
SunX BTC-USDT	+0.0100%	8h	$3.3M	$5.5M	100x	as long as short
Extended BTC-USD	+0.0104%	1h	$47.4M	$202.3M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0048%	1h	—	$87.0M	500x	as long as short
Coinbase International BTC-PERP-INTX	+0.0112%	1h	$144.9M	$6.20B	50x	as long as short
Hyperliquid BTC	+0.0143%	1h	$3.87B	$4.16B	40x	as long as short
RISEx BTC/USDC	+0.0178%	1h	$8.5M	$37.1M	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 −0.0203%	1h	$13.3M	—	200x	as long as short
BloFin BTC-USDT	+0.0207%	8h	$421.5M	$490.0M	150x	as long as short
Deribit BTC-PERPETUAL	+0.0444%	1h	$859.7M	$964.2M	50x	as long as short