BTC

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0004%/8h= −0.4% APRnext payment −$0.00 per $10,000 · paid last 24h +0.009%

Price spread now: Popdex against SoDEX+0.007%7-day average +0.009% · 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−$15as in the Price arb table

costs, in and out, $10k−$150.148% of the position

Long on SoDEX Short on Popdex

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.021%+$2 on $10k

Price spread, last 3 days (all we have)+0.039%+$4 · spread now +0.007%, 7d avg +0.009%

Together, before fees+0.061%+$6 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SoDEX BTC-USD	86,490	0.0100	pay 0.0013% / 1h	24m 11s	$60.4M	$337.2M	40x
Short	Popdex BTCUSDT	86,496	0.0096	get 0.0012% / 1h	24m 11s	$8.5M	$52.3M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Popdex against SoDEX. 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 SoDEXbpFee PopdexbpOrdersPrice spread, now +0.007%Rate

Funding earned: −$0.84
Price spread: +0.007% → +0.009%: −$0.23
Slippage, 4 orders: −$0.44
Fee SoDEX: 4 bp × 2 orders: −$8
Fee Popdex: 3.2 bp × 2 orders: −$6.4
Net: −$15.91
Costs to cover: 0.148%
Break-even: never at this rate

Slippage from SoDEX: live order book, 5 min ago; Popdex: live order book, 5 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 SoDEX live order book, 5 min ago	0.06 bp	4.1 bp −$4	4.1 bp −$41	5.0 bp −$499	42.1 bp −$21.0K
Sell Popdex live order book, 5 min ago	0.06 bp	3.5 bp −$3	3.5 bp −$35	3.7 bp −$374	5.0 bp −$2,511

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	−0.1058%	1h	86,508.5	+0.021%	$140K	$618K	40x	as long as short
Phoenix BTC	−0.0159%	1h	86,405	−0.098%	$2.2M	$11.8M	40x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	86,377	−0.131%	$9K	$3K	50x	as long as short
Aftermath Perps BTCUSD	−0.0036%	1h	86,499.3	+0.011%	$82K	$217K	20x	as long as short
Aster BTCUSDT	−0.0011%	8h	86,488.4	−0.002%	$504.8M	$1.15B	200x	as long as short
01 Exchange BTCUSD	−0.0008%	1h	86,502.6	+0.015%	$358K	$2.4M	50x	as long as short
KuCoin XBTUSDTM	0.0000%	8h	86,509.8	+0.023%	$851.9M	$711.3M	125x	as long as short
Perpl BTC	0.0000%	43m	86,515.8	+0.030%	$426K	$23.8M	6.7x	as long as short
Deribit BTC-PERPETUAL	0.0000%	1h	86,523.4	+0.039%	$921.3M	$1.48B	50x	as long as short
dYdX BTC-USD	+0.0003%	1h	86,488.5	−0.002%	$17.0M	$21.1M	50x	as long as short

Show all 56 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
gTrade (Gains Network) BTC/USD	L +0.0005% / S −0.0004%	1h	86,509.6	+0.023%	$36.8M	—	200x	as long as short
RISEx BTC/USDC	+0.0006%	1h	86,500.5	+0.012%	$8.5M	$43.0M	25x	as long as short
Reya BTCRUSDPERP	+0.0022%	1h	86,480.6	−0.011%	$6.7M	$144.9M	40x	as long as short
Injective BTC/USDC PERP	+0.0024%	1h	86,559	+0.080%	$315K	$26.8M	52x	as long as short
Phemex BTCUSDT	+0.0032%	8h	86,493.1	+0.004%	$149.4M	$476.4M	150x	as long as short
BingX BTC-USDT	+0.0034%	8h	86,491.7	+0.002%	—	$1.59B	—	as long as short
Bitget BTCUSDT	+0.0044%	8h	86,495	+0.006%	$2.95B	$5.10B	150x	as long as short
MEXC BTC_USDT	+0.0061%	8h	86,490.3	0.000%	$5.13B	$5.69B	500x	as long as short
Binance BTCUSDT	+0.0062%	8h	86,492.6	+0.003%	$9.42B	$24.40B	150x	as long as short
Aevo BTC-PERP	+0.0064%	1h	86,495.9	+0.007%	$2.4M	$1.3M	20x	as long as short
Hibachi BTC/USDT-P	+0.0072%	1h	86,500.4	+0.012%	$717K	$8.2M	30x	as long as short
Gate BTC_USDT	+0.0078%	8h	86,490.2	0.000%	$5.85B	$10.71B	200x	as long as short
Bybit BTCUSDT	+0.0091%	8h	86,494.1	+0.005%	$5.25B	$9.76B	150x	as long as short
Lighter BTC	+0.0096%	1h	86,500.2	+0.012%	$170.8M	$1.01B	50x	as long as short
Lighter RH BTC	+0.0096%	1h	86,510.2	+0.023%	$24.1M	$152.2M	50x	as long as short
Popdex BTCUSDTshort	+0.0096%	1h	86,496	+0.007%	$8.5M	$52.3M	100x
Katana Perps BTC-USD	+0.0100%	8h	86,483	−0.008%	$204K	$6.9M	50x	as long as short
Paradex BTC-USD-PERP	+0.0100%	8h	86,552.5	+0.072%	$4.8M	$8.5M	50x	as long as short
Nado BTC-PERP	+0.0100%	1h	86,518	+0.032%	$22.0M	$234.4M	50x	as long as short
Hyperliquid BTC	+0.0100%	1h	86,561	+0.082%	$3.81B	$5.09B	40x	as long as short
Pacifica BTC	+0.0100%	1h	86,548.2	+0.067%	$40.8M	$513.3M	50x	as long as short
OKX BTC-USDT-SWAP	+0.0100%	8h	86,490.3	0.000%	$2.54B	$12.74B	100x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	86,517	+0.031%	$3.9M	$18.6M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	86,568.6	+0.091%	$7.4M	$94.2M	40x	as long as short
Bulk BTC-USD	+0.0100%	1h	86,343.9	−0.169%	$570.6M	$18.8M	40x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	86,482.9	−0.008%	$37.9M	$155.2M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	86,374.3	−0.134%	$155.6M	$566.5M	—	as long as short
edgeX BTCUSDC	+0.0100%	4h	86,370.9	−0.138%	$279.1M	$946.3M	100x	as long as short
GRVT BTC_USDT_Perp	+0.0100%	8h	86,399.5	−0.105%	$216.9M	$174.6M	50x	as long as short
ApeX Omni BTCUSDT	+0.0100%	1h	86,399.7	−0.104%	$141.3M	$323.0M	100x	as long as short
StandX BTC-USD	+0.0100%	1h	86,431.7	−0.067%	$30.7M	$203.5M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	86,531.4	+0.048%	—	$11.6M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	86,488	−0.002%	$11.1M	$13.7M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	86,495.7	+0.007%	$191K	$3.3M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	86,498.9	+0.010%	$2.4M	$8.7M	100x	as long as short
Derive BTC-PERP	+0.0100%	1h	86,482.8	−0.008%	$30.0M	$61.6M	15x	as long as short
SunX BTC-USDT	+0.0100%	8h	86,491.1	+0.001%	$3.4M	$5.4M	100x	as long as short
SoDEX BTC-USDlong	+0.0100%	1h	86,490	long leg	$60.4M	$337.2M	40x
HTX BTC-USDT	+0.0100%	8h	86,481.8	−0.009%	$2.30B	$968.4M	200x	as long as short
Extended BTC-USD	+0.0104%	1h	86,469.4	−0.024%	$45.5M	$226.5M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0048%	1h	86,534.4	+0.051%	—	$98.8M	500x	as long as short
Coinbase International BTC-PERP-INTX	+0.0112%	1h	86,529.8	+0.046%	$132.3M	$5.70B	50x	as long as short
Kraken Futures PF_XBTUSD	+0.0121%	1h	86,518.6	+0.033%	$191.5M	$943.5M	100x	as long as short
BloFin BTC-USDT	+0.0181%	8h	86,498.3	+0.010%	$415.8M	$654.4M	150x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0184% / S −0.0213%	1h	86,503.3	+0.015%	$15.3M	—	200x	as long as short
Kalshi KXBTCPERP	+0.0196%	8h	86,532	+0.049%	$9.6M	$732.3M	6.4x	as long as short