Funding you earn now, next payment 09:00 UTC−0.0055%/8h= −6.0% APRnext payment −$0.07 per $10,000 · paid last 24h +0.022%
Price spread now: Popdex against Reya−0.029%7-day average +0.040% · 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)+0.011%+$1 on $10k
+Price spread, last 7 days+0.054%+$5 · spread now −0.029%, 7d avg +0.040%
=Together, before fees+0.066%+ Points / potential airdropReya: Active · farm board+$7 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Popdex is 0.069% cheaper against Reya than usual: you would sell low and buy high (−$7 if the spread goes back to its 7-day average of +0.040%). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Reya BTCRUSDPERP | 85,829.5 | 0.0151 | pay 0.0019% / 1h | 21m 27s | $6.6M | $135.6M | 40x |
| Short | Popdex BTCUSDT | 85,805 | 0.0096 | get 0.0012% / 1h | 21m 27s | $8.7M | $55.6M | 100x |
Reya BTCRUSDPERP
Popdex BTCUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Popdex against Reya. 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
- −$11.56
- Price spread: −0.029% → +0.040%
- −$6.86
- Slippage, 4 orders
- no order book: not counted
- Fee Reya: 3 bp × 2 orders
- −$6
- Fee Popdex: 3.2 bp × 2 orders
- −$6.4
- Net
- −$30.83
- Costs to cover
- 0.124%
- Break-even
- never at this rate
Slippage unknown: Reya: no order-book sample; Popdex: live order book, 3 min ago. 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 Reya no order-book sample | — | — | — | — | — |
| Sell Popdex live order book, 3 min ago | 0.06 bp | 3.3 bp −$3 | 3.3 bp −$33 | 3.5 bp −$347 | 4.9 bp −$2,445 |
Reya: 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 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 | |
|---|---|---|---|---|---|---|---|---|
| Bluefin BTC-PERP | −0.0738% | 1h | 85,914.7 | +0.099% | $195K | $785K | 40x | as long as short |
| Hotstuff BTC-PERP | −0.0080% | 1h | 85,771 | −0.068% | $8K | $2K | 50x | as long as short |
| BloFin BTC-USDT | −0.0020% | 8h | 85,706.9 | −0.143% | $425.8M | $654.2M | 150x | as long as short |
| Injective BTC/USDC PERP | −0.0006% | 1h | 85,652 | −0.207% | $307K | $26.2M | 52x | as long as short |
| 01 Exchange BTCUSD | 0.0000% | 1h | 85,817.5 | −0.014% | $354K | $2.1M | 50x | as long as short |
| gTrade (Gains Network) BTC/USD | L +0.0004% / S −0.0004% | 1h | 85,818 | −0.013% | $36.7M | — | 200x | as long as short |
| KuCoin XBTUSDTM | +0.0023% | 8h | 85,835.7 | +0.007% | $944.3M | $751.9M | 125x | as long as short |
| Aster BTCUSDT | +0.0039% | 8h | 85,862 | +0.038% | $505.1M | $1.05B | 200x | as long as short |
| dYdX BTC-USD | +0.0049% | 1h | 85,830.4 | +0.001% | $16.8M | $20.7M | 50x | as long as short |
| Kraken Futures PF_XBTUSD | +0.0068% | 1h | 85,805 | −0.029% | $186.5M | $911.9M | 100x | as long as short |
Bluefin BTC-PERP
Hotstuff BTC-PERP
BloFin BTC-USDT
Injective BTC/USDC PERP
01 Exchange BTCUSD
gTrade (Gains Network) BTC/USD
KuCoin XBTUSDTM
Aster BTCUSDT
dYdX BTC-USD
Kraken Futures PF_XBTUSDShow all 56 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Phoenix BTC | +0.0075% | 1h | 85,520 | −0.361% | $2.3M | $10.4M | 40x | as long as short |
| BingX BTC-USDT | +0.0080% | 8h | 85,847.7 | +0.021% | — | $1.53B | — | as long as short |
| Nado BTC-PERP | +0.0083% | 1h | 85,810.8 | −0.022% | $24.3M | $213.0M | 50x | as long as short |
| Lighter BTC | +0.0096% | 1h | 85,786.4 | −0.050% | $172.4M | $953.4M | 50x | as long as short |
| Lighter RH BTC | +0.0096% | 1h | 85,796.4 | −0.039% | $23.3M | $136.0M | 50x | as long as short |
| Popdex BTCUSDTshort | +0.0096% | 1h | 85,805 | −0.029% | $8.7M | $55.6M | 100x | |
| Aevo BTC-PERP | +0.0096% | 1h | 85,861.2 | +0.037% | $2.4M | $6.7M | 20x | as long as short |
| Katana Perps BTC-USD | +0.0100% | 8h | 85,786 | −0.051% | $266K | $8.6M | 50x | as long as short |
| Paradex BTC-USD-PERP | +0.0100% | 8h | 85,839.3 | +0.011% | $5.8M | $9.3M | 50x | as long as short |
| Pacifica BTC | +0.0100% | 1h | 85,800.1 | −0.034% | $40.4M | $602.4M | 50x | as long as short |
| Binance BTCUSDT | +0.0100% | 8h | 85,842.4 | +0.015% | $9.43B | $24.29B | 150x | as long as short |
| Bybit BTCUSDT | +0.0100% | 8h | 85,848.7 | +0.022% | $5.10B | $9.71B | 150x | as long as short |
| OKX BTC-USDT-SWAP | +0.0100% | 8h | 85,877.2 | +0.056% | $2.62B | $11.06B | 100x | as long as short |
| Ondo Perps BTC-USD.P | +0.0100% | 1h | 85,793 | −0.043% | $3.9M | $17.1M | 25x | as long as short |
| Arcus BTC-USD | +0.0100% | 1h | 85,834.2 | +0.005% | $4.7M | $98.0M | 40x | as long as short |
| Bulk BTC-USD | +0.0100% | 1h | 85,303.3 | −0.613% | $702.0M | $164.8M | 40x | as long as short |
| Gate BTC_USDT | +0.0100% | 8h | 85,857.9 | +0.033% | $5.51B | $10.00B | 200x | as long as short |
| MEXC BTC_USDT | +0.0100% | 8h | 85,835.1 | +0.006% | $5.09B | $5.80B | 500x | as long as short |
| Bitget BTCUSDT | +0.0100% | 8h | 85,838.6 | +0.011% | $2.99B | $4.72B | 150x | as long as short |
| Backpack BTC_USDC_PERP | +0.0100% | 1h | 85,801.4 | −0.033% | $37.8M | $191.9M | 75x | as long as short |
| Variational Omni BTC | +0.0100% | 8h | 85,352.3 | −0.556% | $155.8M | $535.0M | — | as long as short |
| edgeX BTCUSDC | +0.0100% | 4h | 85,616.9 | −0.248% | $286.2M | $966.2M | 100x | as long as short |
| GRVT BTC_USDT_Perp | +0.0100% | 8h | 85,675.9 | −0.179% | $215.1M | $156.4M | 50x | as long as short |
| ApeX Omni BTCUSDT | +0.0100% | 1h | 85,662.5 | −0.195% | $136.9M | $310.8M | 100x | as long as short |
| StandX BTC-USD | +0.0100% | 1h | 85,736.4 | −0.109% | $30.2M | $217.0M | 40x | as long as short |
| Vest BTC-PERP | +0.0100% | 1h | 85,893.2 | +0.074% | — | $9.8M | 50x | as long as short |
| Polymarket Perps BTC-USD | +0.0100% | 1h | 85,830 | +0.001% | $11.0M | $14.1M | 50x | as long as short |
| Bullet BTC-USD | +0.0100% | 1h | 85,849.2 | +0.023% | $210K | $3.3M | 20x | as long as short |
| Orderly PERP_BTC_USDC | +0.0100% | 8h | 85,873.2 | +0.051% | $2.6M | $9.5M | 100x | as long as short |
| Derive BTC-PERP | +0.0100% | 1h | 85,444.6 | −0.448% | $28.8M | $52.4M | 15x | as long as short |
| SunX BTC-USDT | +0.0100% | 8h | 85,792.7 | −0.043% | $3.1M | $7.0M | 100x | as long as short |
| SoDEX BTC-USD | +0.0100% | 1h | 85,788 | −0.048% | $60.0M | $311.8M | 40x | as long as short |
| HTX BTC-USDT | +0.0100% | 8h | 85,777 | −0.061% | $2.27B | $948.2M | 200x | as long as short |
| Phemex BTCUSDT | +0.0100% | 8h | 85,787.8 | −0.049% | $165.6M | $509.2M | 150x | as long as short |
| Extended BTC-USD | +0.0104% | 1h | 85,770.8 | −0.068% | $45.8M | $236.3M | 50x | as long as short |
| Jupiter Perps WBTC-PERP | L +0.0104% / S +0.0056% | 1h | 85,779 | −0.059% | — | $102.1M | 500x | as long as short |
| Coinbase International BTC-PERP-INTX | +0.0112% | 1h | 85,833 | +0.004% | $112.1M | $5.40B | 50x | as long as short |
| Reya BTCRUSDPERPlong | +0.0151% | 1h | 85,829.5 | long leg | $6.6M | $135.6M | 40x | |
| Hyperliquid BTC | +0.0156% | 1h | 85,926.9 | +0.113% | $3.86B | $4.75B | 40x | as long as short |
| Kalshi KXBTCPERP | +0.0190% | 8h | 85,767 | −0.073% | $10.8M | $734.3M | 6.4x | as long as short |
| RISEx BTC/USDC | +0.0194% | 1h | 85,776.3 | −0.062% | $9.0M | $41.7M | 25x | as long as short |
| GMX BTC/USD [WBTC.b-USDC] | L +0.0198% / S −0.0175% | 1h | 85,718.7 | −0.129% | $12.9M | — | 200x | as long as short |
| Deribit BTC-PERPETUAL | +0.0218% | 1h | 85,833.8 | +0.005% | $833.2M | $1.64B | 50x | as long as short |
| Hibachi BTC/USDT-P | +0.0336% | 1h | 85,806.4 | −0.027% | $701K | $7.5M | 30x | as long as short |
| Aftermath Perps BTCUSD | +0.0355% | 1h | 85,623.2 | −0.240% | $81K | $261K | 20x | as long as short |
| Perpl BTC | +0.0447% | 43m | 85,815.3 | −0.017% | $463K | $17.3M | 6.7x | as long as short |
Phoenix BTC
BingX BTC-USDT
Nado BTC-PERP
Lighter BTC
Lighter RH BTC
Aevo BTC-PERP
Katana Perps BTC-USD
Paradex BTC-USD-PERP
Pacifica BTC
Binance BTCUSDT
Bybit BTCUSDT
OKX BTC-USDT-SWAP
Ondo Perps BTC-USD.P
Arcus BTC-USD
Bulk BTC-USD
Gate BTC_USDT
MEXC BTC_USDT
Bitget BTCUSDT
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
Derive BTC-PERP
SunX BTC-USDT
SoDEX BTC-USD
HTX BTC-USDT
Phemex BTCUSDT
Extended BTC-USD
Jupiter Perps WBTC-PERP
Coinbase International BTC-PERP-INTX
Hyperliquid BTC
Kalshi KXBTCPERP
RISEx BTC/USDC
GMX BTC/USD [WBTC.b-USDC]
Deribit BTC-PERPETUAL
Hibachi BTC/USDT-P
Aftermath Perps BTCUSD
Perpl BTC