Funding you earn now, next payment 12:00 UTC−0.0133%/8h= −14.6% APRnext payment −$0.17 per $10,000 · paid last 24h +0.012%
Price spread now: Popdex against Reya+0.008%7-day average +0.040% · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 4 days (all we have)+0.008%+$1 on $10k
+Price spread, last 7 days+0.037%+$4 · spread now +0.008%, 7d avg +0.040%
=Together, before fees+0.045%+ Points / potential airdropReya: Active · farm board+$5 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$4 a day on $10k at the current rate, and Popdex is 0.032% cheaper against Reya than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of +0.040%). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Reya BTCRUSDPERP | 85,912 | 0.0173 | pay 0.0022% / 1h | 45m 23s | $6.6M | $124.8M | 40x |
| Short | Popdex BTCUSDT | 85,919 | 0.0040 | get 0.0005% / 1h | 45m 23s | $8.6M | $45.6M | 100x |
Reya BTCRUSDPERP
Popdex BTCUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Popdex against Reya. 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
- −$27.93
- Price spread: +0.008% → +0.040%
- −$3.18
- Slippage, 4 orders
- no order book: not counted
- Fee Reya: 3 bp × 2 orders
- −$6
- Fee Popdex: 3.2 bp × 2 orders
- −$6.4
- Net
- −$43.51
- Costs to cover
- 0.124%
- Break-even
- never at this rate
Slippage unknown: Reya: no order-book sample; Popdex: live order book, 2 min ago. 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 Reya no order-book sample | — | — | — | — | — |
| Sell Popdex live order book, 2 min ago | 0.06 bp | 3.4 bp −$3 | 3.4 bp −$34 | 3.8 bp −$380 | 5.3 bp −$2,631 |
Reya: 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 | −0.0150% | 1h | 85,888 | −0.028% | $2.1M | $7.7M | 40x | as long as short |
| Perpl BTC | −0.0112% | 43m | 85,888.8 | −0.027% | $472K | $13.5M | 6.7x | as long as short |
| Hotstuff BTC-PERP | −0.0080% | 1h | 85,930 | +0.021% | $8K | $2K | 50x | as long as short |
| BloFin BTC-USDT | −0.0045% | 8h | 85,912.5 | +0.001% | $424.3M | $550.5M | 150x | as long as short |
| 01 Exchange BTCUSD | −0.0040% | 1h | 85,907.4 | −0.005% | $369K | $1.8M | 50x | as long as short |
| ApeX Omni BTCUSDT | −0.0004% | 1h | 85,852.8 | −0.069% | $137.7M | $288.5M | 100x | as long as short |
| SoDEX BTC-USD | −0.0004% | 1h | 85,925 | +0.015% | $65.9M | $186.9M | 40x | as long as short |
| dYdX BTC-USD | 0.0000% | 1h | 85,880.6 | −0.037% | $16.8M | $13.6M | 50x | as long as short |
| Injective BTC/USDC PERP | +0.0001% | 1h | 85,912 | 0.000% | $321K | $28.7M | 52x | as long as short |
| gTrade (Gains Network) BTC/USD | L +0.0004% / S −0.0004% | 1h | 85,940.8 | +0.034% | $36.9M | — | 200x | as long as short |
Phoenix BTC
Perpl BTC
Hotstuff BTC-PERP
BloFin BTC-USDT
01 Exchange BTCUSD
ApeX Omni BTCUSDT
SoDEX BTC-USD
dYdX BTC-USD
Injective BTC/USDC PERP
gTrade (Gains Network) BTC/USDShow all 56 exchanges
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Aster BTCUSDT | +0.0015% | 8h | 85,915.6 | +0.004% | $511.4M | $829.6M | 200x | as long as short |
| Kraken Futures PF_XBTUSD | +0.0019% | 1h | 85,948.7 | +0.043% | $192.8M | $739.0M | 100x | as long as short |
| Popdex BTCUSDTshort | +0.0040% | 1h | 85,919 | +0.008% | $8.6M | $45.6M | 100x | |
| BingX BTC-USDT | +0.0048% | 8h | 85,930.1 | +0.021% | — | $1.29B | — | as long as short |
| KuCoin XBTUSDTM | +0.0053% | 8h | 85,920.4 | +0.010% | $942.5M | $635.6M | 125x | as long as short |
| Bybit BTCUSDT | +0.0062% | 8h | 85,934.1 | +0.026% | $5.14B | $7.98B | 150x | as long as short |
| Phemex BTCUSDT | +0.0064% | 8h | 85,860.4 | −0.060% | $170.8M | $474.9M | 150x | as long as short |
| Aevo BTC-PERP | +0.0072% | 1h | 85,911.1 | −0.001% | $2.4M | $6.8M | 20x | as long as short |
| MEXC BTC_USDT | +0.0074% | 8h | 85,918.7 | +0.008% | $5.16B | $4.71B | 500x | as long as short |
| Binance BTCUSDT | +0.0075% | 8h | 85,920.1 | +0.009% | $9.41B | $20.02B | 150x | as long as short |
| Gate BTC_USDT | +0.0078% | 8h | 85,932.3 | +0.024% | $5.52B | $8.78B | 200x | as long as short |
| HTX BTC-USDT | +0.0084% | 8h | 85,841.1 | −0.082% | $2.27B | $759.3M | 200x | as long as short |
| Bitget BTCUSDT | +0.0087% | 8h | 85,928.4 | +0.019% | $3.00B | $3.84B | 150x | as long as short |
| Bullet BTC-USD | +0.0095% | 1h | 85,927.9 | +0.019% | $218K | $3.2M | 20x | as long as short |
| Lighter BTC | +0.0096% | 1h | 85,909.9 | −0.002% | $173.4M | $836.5M | 50x | as long as short |
| Lighter RH BTC | +0.0096% | 1h | 85,903.5 | −0.010% | $23.8M | $117.1M | 50x | as long as short |
| Nado BTC-PERP | +0.0099% | 1h | 85,920.5 | +0.010% | $23.6M | $189.6M | 50x | as long as short |
| Katana Perps BTC-USD | +0.0100% | 8h | 85,886 | −0.030% | $230K | $8.1M | 50x | as long as short |
| Paradex BTC-USD-PERP | +0.0100% | 8h | 85,924.3 | +0.014% | $5.9M | $7.2M | 50x | as long as short |
| Pacifica BTC | +0.0100% | 1h | 85,932.8 | +0.024% | $40.1M | $569.3M | 50x | as long as short |
| OKX BTC-USDT-SWAP | +0.0100% | 8h | 85,940.5 | +0.033% | $2.63B | $9.12B | 100x | as long as short |
| Ondo Perps BTC-USD.P | +0.0100% | 1h | 85,892 | −0.023% | $4.0M | $14.7M | 25x | as long as short |
| Arcus BTC-USD | +0.0100% | 1h | 85,908.8 | −0.004% | $4.8M | $91.1M | 40x | as long as short |
| Bulk BTC-USD | +0.0100% | 1h | 85,916.2 | +0.005% | $715.0M | $81.2M | 40x | as long as short |
| Backpack BTC_USDC_PERP | +0.0100% | 1h | 85,866.1 | −0.053% | $38.2M | $196.1M | 75x | as long as short |
| Variational Omni BTC | +0.0100% | 8h | 85,817.7 | −0.110% | $156.6M | $473.2M | — | as long as short |
| edgeX BTCUSDC | +0.0100% | 4h | 85,791.9 | −0.140% | $289.4M | $734.8M | 100x | as long as short |
| GRVT BTC_USDT_Perp | +0.0100% | 8h | 85,938 | +0.030% | $215.9M | $133.8M | 50x | as long as short |
| StandX BTC-USD | +0.0100% | 1h | 85,933.8 | +0.025% | $30.2M | $227.3M | 40x | as long as short |
| Vest BTC-PERP | +0.0100% | 1h | 85,997 | +0.099% | — | $10.1M | 50x | as long as short |
| Polymarket Perps BTC-USD | +0.0100% | 1h | 85,917 | +0.006% | $11.0M | $12.1M | 50x | as long as short |
| Orderly PERP_BTC_USDC | +0.0100% | 8h | 85,923.3 | +0.013% | $2.6M | $8.7M | 100x | as long as short |
| Bluefin BTC-PERP | +0.0100% | 1h | 85,952.5 | +0.047% | $143K | $608K | 40x | as long as short |
| Derive BTC-PERP | +0.0100% | 1h | 85,982.4 | +0.082% | $29.1M | $44.3M | 15x | as long as short |
| SunX BTC-USDT | +0.0100% | 8h | 85,893.4 | −0.022% | $3.3M | $6.8M | 100x | as long as short |
| Extended BTC-USD | +0.0104% | 1h | 85,897.1 | −0.017% | $47.3M | $190.3M | 50x | as long as short |
| Jupiter Perps WBTC-PERP | L +0.0104% / S +0.0056% | 1h | 85,939.3 | +0.032% | — | $79.0M | 500x | as long as short |
| Coinbase International BTC-PERP-INTX | +0.0128% | 1h | 85,895.6 | −0.019% | $112.0M | $4.95B | 50x | as long as short |
| Kalshi KXBTCPERP | +0.0157% | 8h | 85,906 | −0.007% | $13.3M | $739.5M | 6.4x | as long as short |
| RISEx BTC/USDC | +0.0165% | 1h | 85,938.4 | +0.031% | $9.0M | $35.3M | 25x | as long as short |
| Reya BTCRUSDPERPlong | +0.0173% | 1h | 85,912 | long leg | $6.6M | $124.8M | 40x | |
| GMX BTC/USD [WBTC.b-USDC] | L +0.0212% / S −0.0259% | 1h | 85,935.5 | +0.027% | $15.8M | — | 200x | as long as short |
| Hyperliquid BTC | +0.0213% | 1h | 86,016 | +0.121% | $3.96B | $4.17B | 40x | as long as short |
| Deribit BTC-PERPETUAL | +0.0234% | 1h | 85,983.3 | +0.083% | $818.7M | $1.49B | 50x | as long as short |
| Hibachi BTC/USDT-P | +0.0296% | 1h | 85,955.6 | +0.051% | $703K | $6.8M | 30x | as long as short |
| Aftermath Perps BTCUSD | +0.0305% | 1h | 85,918.9 | +0.008% | $79K | $228K | 20x | as long as short |
Aster BTCUSDT
Kraken Futures PF_XBTUSD
BingX BTC-USDT
KuCoin XBTUSDTM
Bybit BTCUSDT
Phemex BTCUSDT
Aevo BTC-PERP
MEXC BTC_USDT
Binance BTCUSDT
Gate BTC_USDT
HTX BTC-USDT
Bitget BTCUSDT
Bullet BTC-USD
Lighter BTC
Lighter RH BTC
Nado BTC-PERP
Katana Perps BTC-USD
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
GRVT BTC_USDT_Perp
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
Kalshi KXBTCPERP
RISEx BTC/USDC
GMX BTC/USD [WBTC.b-USDC]
Hyperliquid BTC
Deribit BTC-PERPETUAL
Hibachi BTC/USDT-P
Aftermath Perps BTCUSD