Funding you earn now, next payment 02:00 UTC−0.0004%/8h= −0.4% APRnext payment −$0.01 per $10,000 · paid last 24h +0.001%
Price spread now: Popdex against Bulk+0.006%7-day average +0.002% · 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−$150.149% of the position
Funding, last 3 days (all we have)−0.003%$0 on $10k
+Price spread, last 7 days−0.008%−$1 · spread now +0.006%, 7d avg +0.002%
=| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Bulk BTC-USD | 85,804.9 | 0.0100 | pay 0.0013% / 1h | 47m 41s | $582.3M | $118.5M | 40x |
| Short | Popdex BTCUSDT | 85,810 | 0.0096 | get 0.0012% / 1h | 47m 41s | $8.4M | $52.5M | 100x |
Bulk BTC-USD
Popdex BTCUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Popdex against Bulk. 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
- −$0.84
- Price spread: +0.006% → +0.002%
- $0.37
- Slippage, 4 orders
- −$1.52
- Fee Bulk: 3.5 bp × 2 orders
- −$7
- Fee Popdex: 3.2 bp × 2 orders
- −$6.4
- Net
- −$15.39
- Costs to cover
- 0.149%
- Break-even
- never at this rate
Slippage from Bulk: live order book, 2 min ago; Popdex: live order book, 2 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 Bulk live order book, 2 min ago | 0.03 bp | 3.5 bp −$4 | 3.5 bp −$35 | 3.5 bp −$353 | 4.0 bp −$1,978 |
| Sell Popdex live order book, 2 min ago | 0.06 bp | 3.4 bp −$3 | 3.4 bp −$34 | 3.6 bp −$362 | 4.9 bp −$2,463 |
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 | |
|---|---|---|---|---|---|---|---|---|
| Phoenix BTC | −0.0144% | 1h | 85,788 | −0.020% | $2.2M | $10.5M | 40x | as long as short |
| Hotstuff BTC-PERP | −0.0080% | 1h | 85,824 | +0.022% | $8K | $3K | 50x | as long as short |
| BloFin BTC-USDT | −0.0078% | 8h | 85,853 | +0.056% | $415.8M | $658.2M | 150x | as long as short |
| 01 Exchange BTCUSD | −0.0056% | 1h | 85,804.1 | −0.001% | $364K | $2.3M | 50x | as long as short |
| dYdX BTC-USD | 0.0000% | 1h | 85,814.4 | +0.011% | $16.8M | $20.6M | 50x | as long as short |
| Perpl BTC | 0.0000% | 43m | 85,857.1 | +0.061% | $513K | $21.3M | 6.7x | as long as short |
| gTrade (Gains Network) BTC/USD | L +0.0004% / S −0.0004% | 1h | 85,787.6 | −0.020% | $36.7M | — | 200x | as long as short |
| Injective BTC/USDC PERP | +0.0020% | 1h | 85,810 | +0.006% | $341K | $26.9M | 52x | as long as short |
| Aster BTCUSDT | +0.0036% | 8h | 85,805 | 0.000% | $497.6M | $1.13B | 200x | as long as short |
| KuCoin XBTUSDTM | +0.0041% | 8h | 85,770.8 | −0.040% | $894.2M | $757.2M | 125x | as long as short |
Phoenix BTC
Hotstuff BTC-PERP
BloFin BTC-USDT
01 Exchange BTCUSD
dYdX BTC-USD
Perpl BTC
gTrade (Gains Network) BTC/USD
Injective BTC/USDC PERP
Aster BTCUSDT
KuCoin XBTUSDTMShow all 56 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| RISEx BTC/USDC | +0.0044% | 1h | 85,820.2 | +0.018% | $8.1M | $42.6M | 25x | as long as short |
| BingX BTC-USDT | +0.0052% | 8h | 85,799.4 | −0.006% | — | $1.59B | — | as long as short |
| Reya BTCRUSDPERP | +0.0053% | 1h | 85,765.5 | −0.046% | $6.7M | $146.0M | 40x | as long as short |
| Bitget BTCUSDT | +0.0067% | 8h | 85,793.9 | −0.013% | $2.95B | $5.13B | 150x | as long as short |
| HTX BTC-USDT | +0.0074% | 8h | 85,778.9 | −0.030% | $2.28B | $968.7M | 200x | as long as short |
| ApeX Omni BTCUSDT | +0.0075% | 1h | 85,863.8 | +0.069% | $140.4M | $320.9M | 100x | as long as short |
| Nado BTC-PERP | +0.0078% | 1h | 85,793.4 | −0.013% | $22.5M | $228.8M | 50x | as long as short |
| Aevo BTC-PERP | +0.0080% | 1h | 85,797.9 | −0.008% | $2.5M | $1.8M | 20x | as long as short |
| MEXC BTC_USDT | +0.0085% | 8h | 85,805.5 | +0.001% | $5.09B | $5.66B | 500x | as long as short |
| Binance BTCUSDT | +0.0087% | 8h | 85,801.4 | −0.004% | $9.34B | $24.58B | 150x | as long as short |
| Gate BTC_USDT | +0.0088% | 8h | 85,796 | −0.010% | $5.66B | $10.37B | 200x | as long as short |
| Lighter BTC | +0.0096% | 1h | 85,796.3 | −0.010% | $170.6M | $976.9M | 50x | as long as short |
| Lighter RH BTC | +0.0096% | 1h | 85,816.6 | +0.014% | $23.3M | $145.2M | 50x | as long as short |
| Popdex BTCUSDTshort | +0.0096% | 1h | 85,810 | +0.006% | $8.4M | $52.5M | 100x | |
| Katana Perps BTC-USD | +0.0100% | 8h | 85,781 | −0.028% | $209K | $7.5M | 50x | as long as short |
| Paradex BTC-USD-PERP | +0.0100% | 8h | 85,840.7 | +0.042% | $3.8M | $8.8M | 50x | as long as short |
| Hyperliquid BTC | +0.0100% | 1h | 85,873 | +0.079% | $3.77B | $5.03B | 40x | as long as short |
| Pacifica BTC | +0.0100% | 1h | 85,813.8 | +0.010% | $40.9M | $569.6M | 50x | as long as short |
| Bybit BTCUSDT | +0.0100% | 8h | 85,815.7 | +0.013% | $5.27B | $9.81B | 150x | as long as short |
| OKX BTC-USDT-SWAP | +0.0100% | 8h | 85,808.8 | +0.005% | $2.55B | $12.54B | 100x | as long as short |
| Ondo Perps BTC-USD.P | +0.0100% | 1h | 85,789 | −0.019% | $3.9M | $17.9M | 25x | as long as short |
| Arcus BTC-USD | +0.0100% | 1h | 85,792.2 | −0.015% | $7.3M | $98.1M | 40x | as long as short |
| Backpack BTC_USDC_PERP | +0.0100% | 1h | 85,792.9 | −0.014% | $35.2M | $163.3M | 75x | as long as short |
| Variational Omni BTC | +0.0100% | 8h | 85,782.9 | −0.026% | $155.6M | $556.1M | — | as long as short |
| edgeX BTCUSDC | +0.0100% | 4h | 85,838.8 | +0.040% | $278.1M | $943.7M | 100x | as long as short |
| GRVT BTC_USDT_Perp | +0.0100% | 8h | 85,857.1 | +0.061% | $215.7M | $163.7M | 50x | as long as short |
| StandX BTC-USD | +0.0100% | 1h | 85,854.5 | +0.058% | $30.4M | $206.7M | 40x | as long as short |
| Vest BTC-PERP | +0.0100% | 1h | 85,857.7 | +0.062% | — | $11.8M | 50x | as long as short |
| Polymarket Perps BTC-USD | +0.0100% | 1h | 85,800 | −0.006% | $11.0M | $14.2M | 50x | as long as short |
| Bullet BTC-USD | +0.0100% | 1h | 85,780.3 | −0.029% | $191K | $3.3M | 20x | as long as short |
| Orderly PERP_BTC_USDC | +0.0100% | 8h | 85,797.6 | −0.008% | $2.4M | $9.1M | 100x | as long as short |
| Bluefin BTC-PERP | +0.0100% | 1h | 85,830.8 | +0.030% | $186K | $709K | 40x | as long as short |
| Derive BTC-PERP | +0.0100% | 1h | 85,805.1 | 0.000% | $30.0M | $57.4M | 15x | as long as short |
| SunX BTC-USDT | +0.0100% | 8h | 85,845.8 | +0.048% | $2.9M | $6.6M | 100x | as long as short |
| SoDEX BTC-USD | +0.0100% | 1h | 85,798 | −0.008% | $60.1M | $338.0M | 40x | as long as short |
| Phemex BTCUSDT | +0.0100% | 8h | 85,799.3 | −0.006% | $153.9M | $477.2M | 150x | as long as short |
| Bulk BTC-USDlong | +0.0100% | 1h | 85,804.9 | long leg | $582.3M | $118.5M | 40x | |
| Extended BTC-USD | +0.0104% | 1h | 85,775.5 | −0.034% | $44.8M | $227.1M | 50x | as long as short |
| Jupiter Perps WBTC-PERP | L +0.0104% / S +0.0056% | 1h | 85,897.4 | +0.108% | — | $101.4M | 500x | as long as short |
| Coinbase International BTC-PERP-INTX | +0.0112% | 1h | 85,839 | +0.040% | $131.6M | $5.26B | 50x | as long as short |
| Hibachi BTC/USDT-P | +0.0128% | 1h | 85,874.1 | +0.081% | $710K | $8.0M | 30x | as long as short |
| Kraken Futures PF_XBTUSD | +0.0146% | 1h | 85,820.4 | +0.018% | $189.2M | $970.1M | 100x | as long as short |
| Aftermath Perps BTCUSD | +0.0151% | 1h | 85,834.6 | +0.035% | $77K | $217K | 20x | as long as short |
| Deribit BTC-PERPETUAL | +0.0186% | 1h | 85,841.4 | +0.043% | $895.2M | $1.54B | 50x | as long as short |
| Kalshi KXBTCPERP | +0.0204% | 8h | 85,865 | +0.070% | $10.0M | $768.9M | 6.4x | as long as short |
| GMX BTC/USD [WBTC.b-USDC] | L +0.0204% / S −0.0194% | 1h | 85,786.2 | −0.022% | $13.8M | — | 200x | as long as short |
RISEx BTC/USDC
BingX BTC-USDT
Reya BTCRUSDPERP
Bitget BTCUSDT
HTX BTC-USDT
ApeX Omni BTCUSDT
Nado BTC-PERP
Aevo BTC-PERP
MEXC BTC_USDT
Binance BTCUSDT
Gate BTC_USDT
Lighter BTC
Lighter RH BTC
Katana Perps BTC-USD
Paradex BTC-USD-PERP
Hyperliquid BTC
Pacifica BTC
Bybit BTCUSDT
OKX BTC-USDT-SWAP
Ondo Perps BTC-USD.P
Arcus BTC-USD
Backpack BTC_USDC_PERP
Variational Omni BTC
edgeX BTCUSDC
GRVT BTC_USDT_Perp
StandX BTC-USD
Vest BTC-PERP
Polymarket Perps BTC-USD
Bullet BTC-USD
Orderly PERP_BTC_USDC
Bluefin BTC-PERP
Derive BTC-PERP
SunX BTC-USDT
SoDEX BTC-USD
Phemex BTCUSDT
Extended BTC-USD
Jupiter Perps WBTC-PERP
Coinbase International BTC-PERP-INTX
Hibachi BTC/USDT-P
Kraken Futures PF_XBTUSD
Aftermath Perps BTCUSD
Deribit BTC-PERPETUAL
Kalshi KXBTCPERP
GMX BTC/USD [WBTC.b-USDC]