Funding you earn now, next payment 16:00 UTC+0.0044%/8h= +4.8% APRnext payment +$0.44 per $10,000 · paid last 24h +0.003%
Price spread now: Katana Perps against Bybit−0.043%46s7-day average −0.036% · 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)+0.017%+$2 on $10k
+Price spread, last 7 days+0.018%+$2 · spread now −0.043%, 7d avg −0.036%
=The price spread sits at its 7-day average of −0.036%, so right now this pair is about funding alone: +$1 a day on $10k at the current rate. The two prices were read 46 seconds apart, so part of this spread may be the market moving, not a spread.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Bybit BTCUSDT | 85,826.8 | 0.0056 | pay 0.0056% / 8h | 5h 07m | $5.13B | $8.05B | 150x |
| Short | Katana Perps BTC-USD | 85,790 | 0.0100 | get 0.0100% / 8h | 5h 07m | $228K | $8.0M | 50x |
Bybit BTCUSDT
Katana Perps BTC-USDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Katana Perps against Bybit. 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
- $9.29
- Price spread: −0.043% → −0.036%
- −$0.72
- Slippage, 4 orders
- no order book: not counted
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Fee Katana Perps: 1.9 bp × 2 orders
- −$3.8
- Net
- −$6.23
- Costs to cover
- 0.148%
- Break-even
- 11.7 days
Slippage unknown: Bybit: live order book, 4 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| Leg | Half-spread | $10k | $100k | $1M | $5M |
|---|---|---|---|---|---|
| Buy Bybit live order book, 4 min ago | 0.01 bp | 5.5 bp −$6 | 5.9 bp −$59 | 7.1 bp −$710 | 8.2 bp −$4,086 |
| 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 56 exchanges
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 | −0.0133% | 1h | 85,779 | −0.056% | $2.1M | $7.8M | 40x | as long as short |
| Hotstuff BTC-PERP | −0.0080% | 1h | 86,195 | +0.429% | $8K | $2K | 50x | as long as short |
| BloFin BTC-USDT | −0.0043% | 8h | 85,800.1 | −0.031% | $421.5M | $548.9M | 150x | as long as short |
| 01 Exchange BTCUSD | −0.0040% | 1h | 85,814.5 | −0.014% | $367K | $1.9M | 50x | as long as short |
| SoDEX BTC-USD | −0.0011% | 1h | 85,823 | −0.004% | $65.8M | $187.7M | 40x | as long as short |
| Perpl BTC | 0.0000% | 43m | 85,799.2 | −0.032% | $466K | $13.4M | 6.7x | as long as short |
| dYdX BTC-USD | 0.0000% | 1h | 85,844.4 | +0.021% | $16.8M | $13.6M | 50x | as long as short |
| gTrade (Gains Network) BTC/USD | L +0.0004% / S −0.0004% | 1h | 85,829.1 | +0.003% | $36.9M | — | 200x | as long as short |
| Injective BTC/USDC PERP | +0.0009% | 1h | 85,788 | −0.045% | $320K | $30.2M | 52x | as long as short |
| Aster BTCUSDT | +0.0013% | 8h | 85,811.1 | −0.018% | $510.9M | $846.7M | 200x | as long as short |
Phoenix BTC
Hotstuff BTC-PERP
BloFin BTC-USDT
01 Exchange BTCUSD
SoDEX BTC-USD
Perpl BTC
dYdX BTC-USD
gTrade (Gains Network) BTC/USD
Injective BTC/USDC PERP
Aster BTCUSDTShow all 56 exchanges
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Kraken Futures PF_XBTUSD | +0.0030% | 1h | 85,837.8 | +0.013% | $192.0M | $751.2M | 100x | as long as short |
| BingX BTC-USDC | +0.0040% | 8h | 85,801.9 | −0.029% | — | $16.1M | — | as long as short |
| Popdex BTCUSDT | +0.0048% | 1h | 85,812 | −0.017% | $8.6M | $45.5M | 100x | as long as short |
| KuCoin XBTUSDTM | +0.0052% | 8h | 85,818.4 | −0.010% | $940.4M | $636.0M | 125x | as long as short |
| Bybit BTCUSDTlong | +0.0056% | 8h | 85,826.8 | long leg | $5.13B | $8.05B | 150x | |
| HTX BTC-USDT | +0.0067% | 8h | 85,810.7 | −0.019% | $2.27B | $786.8M | 200x | as long as short |
| Phemex BTCUSDT | +0.0068% | 8h | 85,820.3 | −0.008% | $169.8M | $476.2M | 150x | as long as short |
| Gate BTC_USDT | +0.0072% | 8h | 85,829.4 | +0.003% | $5.51B | $9.04B | 200x | as long as short |
| MEXC BTC_USDT | +0.0076% | 8h | 85,821.4 | −0.006% | $5.15B | $4.91B | 500x | as long as short |
| Binance BTCUSDT | +0.0076% | 8h | 85,820.6 | −0.007% | $9.40B | $20.29B | 150x | as long as short |
| Aevo BTC-PERP | +0.0080% | 1h | 85,801.2 | −0.030% | $2.4M | $6.8M | 20x | as long as short |
| Bitget BTCUSDT | +0.0088% | 8h | 85,839.3 | +0.015% | $3.00B | $3.89B | 150x | as long as short |
| GRVT BTC_USDT_Perp | +0.0091% | 8h | 85,780 | −0.055% | $215.5M | $132.8M | 50x | as long as short |
| Bullet BTC-USD | +0.0096% | 1h | 85,825 | −0.002% | $211K | $3.2M | 20x | as long as short |
| Lighter BTC | +0.0096% | 1h | 85,835 | +0.010% | $173.1M | $874.3M | 50x | as long as short |
| Lighter RH BTC | +0.0096% | 1h | 85,837.5 | +0.012% | $23.7M | $121.7M | 50x | as long as short |
| Nado BTC-PERP | +0.0097% | 1h | 85,827.1 | 0.000% | $23.0M | $190.6M | 50x | as long as short |
| Katana Perps BTC-USDshort | +0.0100% | 8h | 85,790 | −0.043% | $228K | $8.0M | 50x | |
| Paradex BTC-USD-PERP | +0.0100% | 8h | 85,864.8 | +0.044% | $5.9M | $7.3M | 50x | as long as short |
| Pacifica BTC | +0.0100% | 1h | 85,870.5 | +0.051% | $40.0M | $571.4M | 50x | as long as short |
| OKX BTC-USDT-SWAP | +0.0100% | 8h | 85,842.7 | +0.019% | $2.62B | $9.27B | 100x | as long as short |
| Ondo Perps BTC-USD.P | +0.0100% | 1h | 85,809 | −0.021% | $3.9M | $14.7M | 25x | as long as short |
| Arcus BTC-USD | +0.0100% | 1h | 85,823.3 | −0.004% | $4.9M | $91.5M | 40x | as long as short |
| Bulk BTC-USD | +0.0100% | 1h | 85,846.4 | +0.023% | $713.8M | $100.1M | 40x | as long as short |
| Backpack BTC_USDC_PERP | +0.0100% | 1h | 85,807.7 | −0.022% | $38.0M | $194.9M | 75x | as long as short |
| Variational Omni BTC | +0.0100% | 8h | 85,758.6 | −0.079% | $155.2M | $472.1M | — | as long as short |
| edgeX BTCUSDC | +0.0100% | 4h | 85,762.7 | −0.075% | $289.2M | $737.2M | 100x | as long as short |
| ApeX Omni BTCUSDT | +0.0100% | 1h | 85,763.4 | −0.074% | $137.7M | $288.4M | 100x | as long as short |
| StandX BTC-USD | +0.0100% | 1h | 85,786.7 | −0.047% | $30.2M | $226.5M | 40x | as long as short |
| Vest BTC-PERP | +0.0100% | 1h | 85,863.8 | +0.043% | — | $10.2M | 50x | as long as short |
| Polymarket Perps BTC-USD | +0.0100% | 1h | 85,814 | −0.015% | $11.0M | $11.9M | 50x | as long as short |
| Orderly PERP_BTC_USDC | +0.0100% | 8h | 85,816.7 | −0.012% | $2.6M | $8.9M | 100x | as long as short |
| Bluefin BTC-PERP | +0.0100% | 1h | 85,849.7 | +0.027% | $143K | $607K | 40x | as long as short |
| Derive BTC-PERP | +0.0100% | 1h | 85,867.5 | +0.047% | $29.0M | $44.5M | 15x | as long as short |
| SunX BTC-USDT | +0.0100% | 8h | 85,816.3 | −0.012% | $3.3M | $6.7M | 100x | as long as short |
| Extended BTC-USD | +0.0104% | 1h | 85,795.4 | −0.037% | $47.0M | $192.7M | 50x | as long as short |
| Jupiter Perps WBTC-PERP | L +0.0104% / S +0.0056% | 1h | 85,839.9 | +0.015% | — | $79.8M | 500x | as long as short |
| Coinbase International BTC-PERP-INTX | +0.0120% | 1h | 85,866.9 | +0.047% | $112.3M | $4.94B | 50x | as long as short |
| Hyperliquid BTC | +0.0147% | 1h | 85,920 | +0.109% | $3.94B | $4.17B | 40x | as long as short |
| Kalshi KXBTCPERP | +0.0156% | 8h | 85,840 | +0.015% | $12.0M | $735.6M | 6.4x | as long as short |
| Reya BTCRUSDPERP | +0.0170% | 1h | 85,807 | −0.023% | $6.6M | $128.9M | 40x | as long as short |
| RISEx BTC/USDC | +0.0187% | 1h | 85,841.4 | +0.017% | $9.0M | $35.7M | 25x | as long as short |
| GMX BTC/USD [WBTC.b-USDC] | L +0.0211% / S −0.0250% | 1h | 85,780.6 | −0.054% | $15.5M | — | 200x | as long as short |
| Deribit BTC-PERPETUAL | +0.0213% | 1h | 85,869.9 | +0.050% | $820.4M | $1.50B | 50x | as long as short |
| Hibachi BTC/USDT-P | +0.0320% | 1h | 85,836.4 | +0.011% | $690K | $6.7M | 30x | as long as short |
| Aftermath Perps BTCUSD | +0.0362% | 1h | 85,838 | +0.013% | $79K | $228K | 20x | as long as short |
Kraken Futures PF_XBTUSD
BingX BTC-USDC
Popdex BTCUSDT
KuCoin XBTUSDTM
HTX BTC-USDT
Phemex BTCUSDT
Gate BTC_USDT
MEXC BTC_USDT
Binance BTCUSDT
Aevo BTC-PERP
Bitget BTCUSDT
GRVT BTC_USDT_Perp
Bullet BTC-USD
Lighter BTC
Lighter RH BTC
Nado BTC-PERP
Paradex BTC-USD-PERP
Pacifica BTC
OKX BTC-USDT-SWAP
Ondo Perps BTC-USD.P
Arcus BTC-USD
Bulk BTC-USD
Backpack BTC_USDC_PERP
Variational Omni BTC
edgeX BTCUSDC
ApeX Omni BTCUSDT
StandX BTC-USD
Vest BTC-PERP
Polymarket Perps BTC-USD
Orderly PERP_BTC_USDC
Bluefin BTC-PERP
Derive BTC-PERP
SunX BTC-USDT
Extended BTC-USD
Jupiter Perps WBTC-PERP
Coinbase International BTC-PERP-INTX
Hyperliquid BTC
Kalshi KXBTCPERP
Reya BTCRUSDPERP
RISEx BTC/USDC
GMX BTC/USD [WBTC.b-USDC]
Deribit BTC-PERPETUAL
Hibachi BTC/USDT-P
Aftermath Perps BTCUSD