BTC

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0095%/8h= +10.4% APRpaid last 24h +0.029%

Price spread now: Katana Perps against gTrade (Gains Network)−0.033%7-day average −0.028% · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on gTrade (Gains Network)Short on Katana Perps

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.095%+$9 on $10k

Price spread, last 7 days+0.005%$0 · spread now −0.033%, 7d avg −0.028%

Together, before fees+0.100%+$10 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.028%, so right now this pair is about funding alone: +$3 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	gTrade (Gains Network) BTC/USD	85,530.2	L +0.0004% / S −0.0004%	pay 0.0001% / 1h	17m 13s	$36.6M	—	200x
Short	Katana Perps BTC-USD	85,502	0.0100	get 0.0100% / 8h	1h 17m	$243K	$8.7M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Katana Perps against gTrade (Gains Network). 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 gTrade (Gains Network)bpFee Katana PerpsbpOrdersPrice spread, now −0.033%Rate

Funding earned: $20.02
Price spread: −0.033% → −0.028%: −$0.45
Slippage, 4 orders: no order book: not counted
Fee gTrade (Gains Network): 3.5 bp × 2 orders: −$7
Fee Katana Perps: 1.9 bp × 2 orders: −$3.8
Net: $8.76
Costs to cover: 0.108%
Break-even: 3.9 days

Slippage unknown: gTrade (Gains Network): virtual book (oracle venue), 2 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 gTrade (Gains Network) virtual book (oracle venue), 2 min ago	0.51 bp	4.0 bp −$4	4.1 bp −$41	4.5 bp −$446	6.4 bp −$3,183
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 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	−0.0082%	1h	85,513	−0.020%	$2.2M	$10.4M	40x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	85,511	−0.022%	$8K	$3K	50x	as long as short
KuCoin XBTUSDTM	−0.0039%	8h	85,516.2	−0.016%	$929.7M	$775.3M	125x	as long as short
BloFin BTC-USDT	−0.0022%	8h	85,517.2	−0.015%	$420.1M	$682.9M	150x	as long as short
Aster BTCUSDT	−0.0004%	8h	85,510.5	−0.023%	$513.6M	$1.09B	200x	as long as short
01 Exchange BTCUSD	0.0000%	1h	85,533.4	+0.004%	$353K	$2.4M	50x	as long as short
Perpl BTC	0.0000%	43m	85,539.1	+0.010%	$490K	$18.4M	6.7x	as long as short
dYdX BTC-USD	+0.0001%	1h	85,517.7	−0.015%	$16.8M	$21.2M	50x	as long as short
gTrade (Gains Network) BTC/USDlong	L +0.0004% / S −0.0004%	1h	85,530.2	long leg	$36.6M	—	200x
Nado BTC-PERP	+0.0041%	1h	85,515.4	−0.017%	$24.3M	$222.6M	50x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Popdex BTCUSDT	+0.0048%	1h	85,528	−0.003%	$8.4M	$56.6M	100x	as long as short
Deribit BTC-PERPETUAL	+0.0049%	1h	85,551.3	+0.025%	$861.5M	$1.63B	50x	as long as short
Injective BTC/USDC PERP	+0.0057%	1h	85,247	−0.331%	$338K	$26.8M	52x	as long as short
BingX BTC-USDT	+0.0073%	8h	85,513.9	−0.019%	—	$1.57B	—	as long as short
Kraken Futures PF_XBTUSD	+0.0089%	1h	85,531.3	+0.001%	$186.2M	$960.0M	100x	as long as short
Bitget BTCUSDT	+0.0091%	8h	85,518.3	−0.014%	$2.97B	$5.17B	150x	as long as short
Lighter BTC	+0.0096%	1h	85,532.6	+0.003%	$170.2M	$1.03B	50x	as long as short
Lighter RH BTC	+0.0096%	1h	85,533.2	+0.004%	$23.6M	$148.4M	50x	as long as short
MEXC BTC_USDT	+0.0096%	8h	85,517.1	−0.015%	$5.03B	$5.77B	500x	as long as short
Aevo BTC-PERP	+0.0096%	1h	85,513.5	−0.020%	$2.4M	$6.7M	20x	as long as short
Binance BTCUSDT	+0.0098%	8h	85,517	−0.015%	$9.43B	$24.99B	150x	as long as short
Bybit BTCUSDT	+0.0099%	8h	85,509	−0.025%	$5.15B	$10.00B	150x	as long as short
Katana Perps BTC-USDshort	+0.0100%	8h	85,502	−0.033%	$243K	$8.7M	50x
Paradex BTC-USD-PERP	+0.0100%	8h	85,570.9	+0.048%	$5.8M	$9.6M	50x	as long as short
Hyperliquid BTC	+0.0100%	1h	85,600	+0.082%	$3.75B	$5.08B	40x	as long as short
Pacifica BTC	+0.0100%	1h	85,553.1	+0.027%	$40.1M	$603.8M	50x	as long as short
OKX BTC-USDT-SWAP	+0.0100%	8h	85,518.1	−0.014%	$2.60B	$12.27B	100x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	85,527	−0.004%	$3.8M	$17.1M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	85,514.7	−0.018%	$5.1M	$97.4M	40x	as long as short
Bulk BTC-USD	+0.0100%	1h	85,499.5	−0.036%	$686.3M	$379.3M	40x	as long as short
Gate BTC_USDT	+0.0100%	8h	85,519.2	−0.013%	$5.57B	$11.06B	200x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	85,508.4	−0.025%	$37.3M	$179.2M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	85,463.4	−0.078%	$155.5M	$557.6M	—	as long as short
edgeX BTCUSDC	+0.0100%	4h	85,506.8	−0.027%	$280.1M	$952.9M	100x	as long as short
GRVT BTC_USDT_Perp	+0.0100%	8h	85,525	−0.006%	$214.7M	$164.4M	50x	as long as short
ApeX Omni BTCUSDT	+0.0100%	1h	85,499.2	−0.036%	$139.8M	$313.4M	100x	as long as short
StandX BTC-USD	+0.0100%	1h	85,523	−0.008%	$30.1M	$205.6M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	85,588.4	+0.068%	—	$10.7M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	85,523	−0.008%	$11.0M	$14.6M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	85,523.1	−0.008%	$201K	$3.3M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	85,519.4	−0.013%	$2.6M	$9.7M	100x	as long as short
Bluefin BTC-PERP	+0.0100%	1h	85,561.9	+0.037%	$194K	$796K	40x	as long as short
SunX BTC-USDT	+0.0100%	8h	85,517	−0.015%	$2.9M	$6.1M	100x	as long as short
SoDEX BTC-USD	+0.0100%	1h	85,517	−0.015%	$59.9M	$336.8M	40x	as long as short
HTX BTC-USDT	+0.0100%	8h	85,514.7	−0.018%	$2.26B	$966.7M	200x	as long as short
Phemex BTCUSDT	+0.0100%	8h	85,524.3	−0.007%	$154.5M	$512.1M	150x	as long as short
Extended BTC-USD	+0.0104%	1h	85,493.3	−0.043%	$44.9M	$240.7M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0056%	1h	85,529	−0.001%	—	$104.9M	500x	as long as short
Coinbase International BTC-PERP-INTX	+0.0104%	1h	85,550.6	+0.024%	$114.5M	$5.50B	50x	as long as short
Reya BTCRUSDPERP	+0.0131%	1h	85,513	−0.020%	$6.6M	$147.7M	40x	as long as short
Kalshi KXBTCPERP	+0.0184%	8h	85,540	+0.011%	$12.0M	$742.0M	6.4x	as long as short
RISEx BTC/USDC	+0.0193%	1h	85,546.2	+0.019%	$8.8M	$42.7M	25x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0200% / S −0.0176%	1h	85,529.2	−0.001%	$13.1M	—	200x	as long as short
Hibachi BTC/USDT-P	+0.0224%	1h	85,537.7	+0.009%	$685K	$7.8M	30x	as long as short
Aftermath Perps BTCUSD	+0.0249%	1h	85,501.9	−0.033%	$79K	$230K	20x	as long as short