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Funding arb · Price arb /

BTC

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Alert: funding
Measured
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Checked every minute; it has to hold two checks in a row. Delivery to Telegram comes later, so for now alerts appear on the alerts page.

Alert: spread
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Checked every minute; it has to hold two checks in a row. Delivery to Telegram comes later, so for now alerts appear on the alerts page.

Funding you earn now, next payment 16:00 UTC+0.0071%/8h= +7.8% APRnext payment +$0.71 per $10,000 · paid last 24h +0.019%
Price spread now: Katana Perps against BingX+0.017%7-day average +0.005% · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Long on BingXShort on Katana Perps
What this pair did over the last
the charts below follow
Funding, last 4 days (all we have)+0.070%+$7 on $10k
Price spread, last 7 days−0.007%−$1 · spread now +0.017%, 7d avg +0.005%
Together, before fees+0.062%+$6 on $10k · with fees, hour by hour
The price spread sits at its 7-day average of +0.005%, so right now this pair is about funding alone: +$2 a day on $10k at the current rate.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongBingX BTC-USDC86,124.20.0029pay 0.0029% / 8h5h 56m—$16.3M—
ShortKatana Perps BTC-USD86,1390.0100get 0.0100% / 8h5h 56m$220K$8.1M50x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Katana Perps against BingX. 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

Funding earned
$14.87
Price spread: +0.017% → +0.005%
$1.21
Slippage, 4 orders
no order book: not counted
Fee BingX: 5 bp × 2 orders
−$10
Fee Katana Perps: 1.9 bp × 2 orders
−$3.8
Net
$2.27
Costs to cover
0.138%
Break-even
5.9 days
Slippage unknown: BingX: live order book, 10 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
LegHalf-spread$10k$100k$1M$5M
Buy BingX live order book, 10 min ago0.01 bp5.0 bp −$55.1 bp −$516.5 bp −$6478.5 bp −$4,245
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 exchanges

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Hotstuff BTC-PERP−0.0080%1h86,197+0.085%$8K$2K50xas long as short
01 Exchange BTCUSD−0.0032%1h86,160.2+0.042%$363K$2.0M50xas long as short
BloFin BTC-USDT−0.0020%8h86,159.8+0.041%$421.0M$566.8M150xas long as short
SoDEX BTC-USD−0.0015%1h86,146+0.025%$66.0M$188.1M40xas long as short
ApeX Omni BTCUSDT−0.0004%1h86,185.3+0.071%$138.2M$295.1M100xas long as short
dYdX BTC-USD0.0000%1h86,162.9+0.045%$16.9M$14.5M50xas long as short
Perpl BTC0.0000%43m86,228.2+0.121%$483K$13.8M6.7xas long as short
gTrade (Gains Network) BTC/USDL +0.0004% / S −0.0004%1h86,178.5+0.063%$36.8M—200xas long as short
Injective BTC/USDC PERP+0.0009%1h86,214+0.104%$301K$26.1M52xas long as short
BingX BTC-USDClong+0.0029%8h86,124.2long leg—$16.3M—
Show all 55 exchanges
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Kraken Futures PF_XBTUSD+0.0029%1h86,163.5+0.046%$191.8M$774.0M100xas long as short
Aster BTCUSDT+0.0031%8h86,141+0.020%$513.4M$878.3M200xas long as short
Bybit BTCUSDT+0.0037%8h86,152.5+0.033%$5.15B$8.15B150xas long as short
Phoenix BTC+0.0053%1h86,185+0.071%$2.0M$7.8M40xas long as short
KuCoin XBTUSDTM+0.0053%8h86,144.7+0.024%$943.2M$637.0M125xas long as short
Gate BTC_USDT+0.0070%8h86,153.5+0.034%$5.52B$8.87B200xas long as short
Popdex BTCUSDT+0.0072%1h86,142+0.021%$8.8M$45.5M100xas long as short
Phemex BTCUSDT+0.0078%8h86,145.8+0.025%$170.8M$480.2M150xas long as short
Lighter BTC+0.0096%1h86,159.8+0.041%$173.8M$850.7M50xas long as short
Lighter RH BTC+0.0096%1h86,165.3+0.048%$23.6M$118.4M50xas long as short
Bitget BTCUSDT+0.0096%8h86,149.8+0.030%$2.99B$3.99B150xas long as short
Aevo BTC-PERP+0.0096%1h86,128.6+0.005%$2.4M$6.7M20xas long as short
Katana Perps BTC-USDshort+0.0100%8h86,139+0.017%$220K$8.1M50x
Paradex BTC-USD-PERP+0.0100%8h86,210.8+0.101%$6.0M$7.8M50xas long as short
Nado BTC-PERP+0.0100%1h86,178.4+0.063%$23.7M$196.8M50xas long as short
Pacifica BTC+0.0100%1h86,212+0.102%$40.4M$570.0M50xas long as short
Binance BTCUSDT+0.0100%8h86,145.7+0.025%$9.46B$20.69B150xas long as short
OKX BTC-USDT-SWAP+0.0100%8h86,155.8+0.037%$2.62B$9.54B100xas long as short
Ondo Perps BTC-USD.P+0.0100%1h86,155+0.036%$4.0M$15.2M25xas long as short
Arcus BTC-USD+0.0100%1h86,192.6+0.079%$4.2M$90.5M40xas long as short
Bulk BTC-USD+0.0100%1h86,169.3+0.052%$716.4M$134.3M40xas long as short
MEXC BTC_USDT+0.0100%8h86,145.8+0.025%$5.18B$4.81B500xas long as short
Backpack BTC_USDC_PERP+0.0100%1h86,137.8+0.016%$38.7M$196.0M75xas long as short
Variational Omni BTC+0.0100%8h86,112.6−0.013%$157.8M$476.8M—as long as short
edgeX BTCUSDC+0.0100%4h86,094.9−0.034%$289.8M$841.1M100xas long as short
GRVT BTC_USDT_Perp+0.0100%8h86,177.2+0.062%$216.5M$133.7M50xas long as short
StandX BTC-USD+0.0100%1h86,183.5+0.069%$30.3M$222.5M40xas long as short
Vest BTC-PERP+0.0100%1h86,204.5+0.093%—$9.3M50xas long as short
Polymarket Perps BTC-USD+0.0100%1h86,149+0.029%$11.1M$12.0M50xas long as short
Bullet BTC-USD+0.0100%1h86,143.7+0.023%$206K$3.2M20xas long as short
Orderly PERP_BTC_USDC+0.0100%8h86,130.7+0.008%$2.7M$8.9M100xas long as short
Bluefin BTC-PERP+0.0100%1h86,178.4+0.063%$195K$564K40xas long as short
SunX BTC-USDT+0.0100%8h86,137.6+0.016%$3.2M$6.7M100xas long as short
HTX BTC-USDT+0.0100%8h86,142.7+0.021%$2.28B$806.1M200xas long as short
Extended BTC-USD+0.0104%1h86,107.2−0.020%$47.0M$203.9M50xas long as short
Jupiter Perps WBTC-PERPL +0.0104% / S +0.0056%1h86,150.4+0.030%—$81.6M500xas long as short
Coinbase International BTC-PERP-INTX+0.0120%1h86,194.7+0.082%$112.3M$4.99B50xas long as short
Kalshi KXBTCPERP+0.0160%8h86,187+0.073%$11.8M$732.3M6.4xas long as short
Reya BTCRUSDPERP+0.0162%1h86,135.6+0.013%$6.6M$131.1M40xas long as short
Hyperliquid BTC+0.0172%1h86,246.3+0.142%$3.97B$4.41B40xas long as short
RISEx BTC/USDC+0.0187%1h86,175.9+0.060%$9.0M$37.3M25xas long as short
GMX BTC/USD [WBTC.b-USDC]L +0.0210% / S −0.0249%1h86,157.2+0.038%$15.6M—200xas long as short
Deribit BTC-PERPETUAL+0.0216%1h86,205.3+0.094%$822.6M$1.51B50xas long as short
Hibachi BTC/USDT-P+0.0344%1h86,238.4+0.133%$718K$7.0M30xas long as short
Aftermath Perps BTCUSD+0.0442%1h86,205.9+0.095%$82K$242K20xas long as short