BTC

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0096%/8h= −10.5% APRnext payment −$0.12 per $10,000 · paid last 24h −0.029%

Price spread now: 01 Exchange against Popdex+0.030%7-day average −0.007% · 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−$12as in the Price arb table

costs, in and out, $10k−$160.159% of the position

Long on Popdex Short on 01 Exchange

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.089%−$9 on $10k

Price spread, last 7 days−0.011%−$1 · spread now +0.030%, 7d avg −0.007%

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

The price spread pays, funding is against you. 01 Exchange is 0.037% dearer against Popdex than usual: you sell high and buy low (spread +0.030% now, against its 7-day average of −0.007%): +$4 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 31 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Popdex BTCUSDT	86,516	0.0088	pay 0.0011% / 1h	48m 34s	$8.5M	$52.2M	100x
Short	01 Exchange BTCUSD	86,542	−0.0008	pay 0.0001% / 1h	48m 34s	$359K	$2.4M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

01 Exchange against Popdex. 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 PopdexbpFee 01 ExchangebpOrdersPrice spread, now +0.030%Rate

Funding earned: −$20.16
Price spread: +0.030% → −0.007%: $3.7
Slippage, 4 orders: −$2.48
Fee Popdex: 3.2 bp × 2 orders: −$6.4
Fee 01 Exchange: 3.5 bp × 2 orders: −$7
Net: −$32.34
Costs to cover: 0.159%
Break-even: never at this rate

Slippage from Popdex: live order book, 1 min ago; 01 Exchange: live order book, 1 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 Popdex live order book, 1 min ago	0.06 bp	3.3 bp −$3	3.3 bp −$33	3.4 bp −$343	5.0 bp −$2,510
Sell 01 Exchange live order book, 1 min ago	0.01 bp	4.5 bp −$4	9.6 bp −$96	doesn't fit	doesn't fit

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
Aftermath Perps BTCUSD	−0.0196%	1h	86,588.8	+0.084%	$79K	$199K	20x	as long as short
Phoenix BTC	−0.0159%	1h	86,601	+0.098%	$2.2M	$11.8M	40x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	86,529	+0.015%	$9K	$3K	50x	as long as short
dYdX BTC-USD	−0.0020%	1h	86,542.1	+0.030%	$17.5M	$20.2M	50x	as long as short
01 Exchange BTCUSDshort	−0.0008%	1h	86,542	+0.030%	$359K	$2.4M	50x
Aster BTCUSDT	−0.0008%	8h	86,509.2	−0.008%	$505.0M	$1.15B	200x	as long as short
Perpl BTC	0.0000%	43m	86,550.1	+0.039%	$420K	$24.1M	6.7x	as long as short
KuCoin XBTUSDTM	+0.0003%	8h	86,508.5	−0.009%	$850.5M	$709.3M	125x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0005% / S −0.0004%	1h	86,559	+0.050%	$36.8M	—	200x	as long as short
RISEx BTC/USDC	+0.0006%	1h	86,527.9	+0.014%	$8.6M	$43.3M	25x	as long as short

Show all 56 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hibachi BTC/USDT-P	+0.0016%	1h	86,573.2	+0.066%	$731K	$8.1M	30x	as long as short
Reya BTCRUSDPERP	+0.0022%	1h	86,522.9	+0.008%	$6.7M	$144.7M	40x	as long as short
Injective BTC/USDC PERP	+0.0024%	1h	86,559	+0.050%	$315K	$26.8M	52x	as long as short
Deribit BTC-PERPETUAL	+0.0025%	1h	86,582	+0.076%	$925.7M	$1.47B	50x	as long as short
Phemex BTCUSDT	+0.0026%	8h	86,543.5	+0.032%	$149.8M	$472.7M	150x	as long as short
BingX BTC-USDT	+0.0030%	8h	86,515.1	−0.001%	—	$1.59B	—	as long as short
Bitget BTCUSDT	+0.0039%	8h	86,515.6	0.000%	$2.95B	$5.08B	150x	as long as short
SoDEX BTC-USD	+0.0055%	1h	86,543	+0.031%	$60.5M	$336.8M	40x	as long as short
Aevo BTC-PERP	+0.0056%	1h	86,524.1	+0.009%	$2.4M	$1.3M	20x	as long as short
MEXC BTC_USDT	+0.0058%	8h	86,523.1	+0.008%	$5.18B	$5.62B	500x	as long as short
Binance BTCUSDT	+0.0059%	8h	86,514.3	−0.002%	$9.42B	$24.35B	150x	as long as short
Gate BTC_USDT	+0.0083%	8h	86,510.9	−0.006%	$5.85B	$10.62B	200x	as long as short
Popdex BTCUSDTlong	+0.0088%	1h	86,516	long leg	$8.5M	$52.2M	100x
Bybit BTCUSDT	+0.0088%	8h	86,524.2	+0.009%	$5.27B	$9.71B	150x	as long as short
Nado BTC-PERP	+0.0095%	1h	86,508.6	−0.009%	$21.7M	$233.8M	50x	as long as short
Lighter BTC	+0.0096%	1h	86,537.5	+0.025%	$172.2M	$998.2M	50x	as long as short
Lighter RH BTC	+0.0096%	1h	86,547.2	+0.036%	$24.0M	$151.6M	50x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	86,509	−0.008%	$206K	$6.9M	50x	as long as short
Paradex BTC-USD-PERP	+0.0100%	8h	86,561.5	+0.053%	$4.7M	$8.3M	50x	as long as short
Hyperliquid BTC	+0.0100%	1h	86,595	+0.091%	$3.81B	$5.09B	40x	as long as short
Pacifica BTC	+0.0100%	1h	86,562.6	+0.054%	$40.9M	$504.7M	50x	as long as short
OKX BTC-USDT-SWAP	+0.0100%	8h	86,527.5	+0.013%	$2.55B	$12.70B	100x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	86,526	+0.012%	$3.9M	$18.6M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	86,592.6	+0.089%	$7.4M	$93.9M	40x	as long as short
Bulk BTC-USD	+0.0100%	1h	86,527.4	+0.013%	$571.7M	$19.3M	40x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	86,548.8	+0.038%	$38.2M	$153.0M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	86,521.5	+0.006%	$156.7M	$571.1M	—	as long as short
edgeX BTCUSDC	+0.0100%	4h	86,522.6	+0.008%	$279.4M	$942.8M	100x	as long as short
GRVT BTC_USDT_Perp	+0.0100%	8h	86,535.2	+0.022%	$217.1M	$182.2M	50x	as long as short
ApeX Omni BTCUSDT	+0.0100%	1h	86,588.3	+0.084%	$141.5M	$322.9M	100x	as long as short
StandX BTC-USD	+0.0100%	1h	86,556	+0.046%	$30.7M	$203.1M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	86,584.1	+0.079%	—	$11.6M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	86,540	+0.028%	$11.1M	$13.6M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	86,533	+0.020%	$193K	$3.4M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	86,543.2	+0.031%	$2.4M	$8.6M	100x	as long as short
Bluefin BTC-PERP	+0.0100%	1h	86,556	+0.046%	$140K	$618K	40x	as long as short
Derive BTC-PERP	+0.0100%	1h	86,532	+0.018%	$30.0M	$61.6M	15x	as long as short
SunX BTC-USDT	+0.0100%	8h	86,531.4	+0.018%	$3.4M	$5.4M	100x	as long as short
HTX BTC-USDT	+0.0100%	8h	86,538.5	+0.026%	$2.30B	$958.9M	200x	as long as short
Extended BTC-USD	+0.0104%	1h	86,502.6	−0.016%	$46.5M	$225.2M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0048%	1h	86,556.2	+0.046%	—	$98.8M	500x	as long as short
Coinbase International BTC-PERP-INTX	+0.0112%	1h	86,586.8	+0.082%	$131.8M	$5.76B	50x	as long as short
Kraken Futures PF_XBTUSD	+0.0121%	1h	86,585.5	+0.080%	$191.3M	$937.0M	100x	as long as short
BloFin BTC-USDT	+0.0179%	8h	86,543.4	+0.032%	$415.3M	$654.6M	150x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0180% / S −0.0210%	1h	86,549.4	+0.039%	$15.0M	—	200x	as long as short
Kalshi KXBTCPERP	+0.0187%	8h	86,562	+0.053%	$9.6M	$726.1M	6.4x	as long as short