BTC

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0112%/8h= +12.3% APRnext payment +$0.14 per $10,000 · paid last 24h +0.034%

Price spread now: Popdex against 01 Exchange−0.019%7-day average +0.007% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$20as in the Price arb table

costs, in and out, $10k−$170.170% of the position

Long on 01 Exchange Short on Popdex

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.099%+$10 on $10k

Price spread, last 7 days+0.011%+$1 · spread now −0.019%, 7d avg +0.007%

Together, before fees+0.110%+$11 on $10k · with fees, hour by hour

Funding pays, the price is against you. Popdex is 0.026% cheaper against 01 Exchange than usual: you would sell low and buy high (spread −0.019% now, against its 7-day average of +0.007%). If the spread goes back, that is −$3 on $10k: about 19 hours of funding at the current rate (+$3 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	01 Exchange BTCUSD	85,461	−0.0016	get 0.0002% / 1h	23m 24s	$365K	$2.3M	50x
Short	Popdex BTCUSDT	85,445	0.0096	get 0.0012% / 1h	23m 24s	$8.4M	$55.0M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Popdex against 01 Exchange. 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 01 ExchangebpFee PopdexbpOrdersPrice spread, now −0.019%Rate

Funding earned: $23.52
Price spread: −0.019% → +0.007%: −$2.59
Slippage, 4 orders: −$3.63
Fee 01 Exchange: 3.5 bp × 2 orders: −$7
Fee Popdex: 3.2 bp × 2 orders: −$6.4
Net: $3.9
Costs to cover: 0.170%
Break-even: 5.8 days

Slippage from 01 Exchange: live order book, 1 min ago; Popdex: 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 01 Exchange live order book, 1 min ago	0.01 bp	4.1 bp −$4	9.5 bp −$95	doesn't fit	doesn't fit
Sell Popdex live order book, 1 min ago	0.06 bp	3.6 bp −$4	3.6 bp −$36	4.0 bp −$399	5.4 bp −$2,707

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	−0.0140%	1h	85,490	+0.034%	$2.1M	$10.4M	40x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	85,442	−0.022%	$8K	$3K	50x	as long as short
KuCoin XBTUSDTM	−0.0043%	8h	85,437.9	−0.027%	$918.3M	$757.6M	125x	as long as short
BloFin BTC-USDT	−0.0021%	8h	85,435.4	−0.030%	$419.0M	$675.3M	150x	as long as short
01 Exchange BTCUSDlong	−0.0016%	1h	85,461	long leg	$365K	$2.3M	50x
Aster BTCUSDT	−0.0004%	8h	85,434.1	−0.032%	$514.5M	$1.10B	200x	as long as short
Perpl BTC	0.0000%	43m	85,460.8	0.000%	$505K	$18.7M	6.7x	as long as short
Nado BTC-PERP	+0.0003%	1h	85,438.9	−0.026%	$24.5M	$223.2M	50x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0004% / S −0.0004%	1h	85,466.7	+0.007%	$36.5M	—	200x	as long as short
dYdX BTC-USD	+0.0036%	1h	85,485.8	+0.029%	$16.8M	$21.2M	50x	as long as short

Show all 56 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Injective BTC/USDC PERP	+0.0044%	1h	85,514	+0.062%	$339K	$26.9M	52x	as long as short
Deribit BTC-PERPETUAL	+0.0052%	1h	85,490.7	+0.035%	$884.8M	$1.59B	50x	as long as short
SoDEX BTC-USD	+0.0059%	1h	85,443	−0.021%	$59.9M	$336.0M	40x	as long as short
BingX BTC-USDT	+0.0065%	8h	85,453	−0.009%	—	$1.54B	—	as long as short
Phemex BTCUSDT	+0.0072%	8h	85,442.4	−0.022%	$148.4M	$495.6M	150x	as long as short
Bitget BTCUSDT	+0.0080%	8h	85,446.6	−0.017%	$2.95B	$5.11B	150x	as long as short
Binance BTCUSDT	+0.0096%	8h	85,445.8	−0.018%	$9.43B	$24.42B	150x	as long as short
Lighter BTC	+0.0096%	1h	85,478.1	+0.020%	$172.4M	$1.02B	50x	as long as short
Lighter RH BTC	+0.0096%	1h	85,476.2	+0.018%	$24.0M	$148.7M	50x	as long as short
Popdex BTCUSDTshort	+0.0096%	1h	85,445	−0.019%	$8.4M	$55.0M	100x
Aevo BTC-PERP	+0.0096%	1h	85,436.6	−0.029%	$2.7M	$2.0M	20x	as long as short
MEXC BTC_USDT	+0.0097%	8h	85,448	−0.015%	$5.06B	$5.66B	500x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	85,450	−0.013%	$225K	$8.3M	50x	as long as short
Paradex BTC-USD-PERP	+0.0100%	8h	85,512.9	+0.061%	$5.7M	$9.4M	50x	as long as short
Hyperliquid BTC	+0.0100%	1h	85,528	+0.078%	$3.79B	$5.02B	40x	as long as short
Pacifica BTC	+0.0100%	1h	85,500.4	+0.046%	$40.1M	$588.0M	50x	as long as short
Bybit BTCUSDT	+0.0100%	8h	85,442.7	−0.021%	$5.18B	$9.86B	150x	as long as short
OKX BTC-USDT-SWAP	+0.0100%	8h	85,457.2	−0.004%	$2.59B	$12.12B	100x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	85,448	−0.015%	$3.8M	$17.8M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	85,454.8	−0.007%	$4.7M	$100.4M	40x	as long as short
Gate BTC_USDT	+0.0100%	8h	85,458.2	−0.003%	$5.53B	$10.82B	200x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	85,453	−0.009%	$36.0M	$178.7M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	85,453	−0.009%	$154.1M	$565.9M	—	as long as short
edgeX BTCUSDC	+0.0100%	4h	85,480.4	+0.023%	$279.2M	$928.6M	100x	as long as short
GRVT BTC_USDT_Perp	+0.0100%	8h	85,439.6	−0.025%	$214.7M	$168.8M	50x	as long as short
ApeX Omni BTCUSDT	+0.0100%	1h	85,498.2	+0.044%	$139.9M	$315.6M	100x	as long as short
StandX BTC-USD	+0.0100%	1h	85,440.7	−0.024%	$30.2M	$207.1M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	85,510.9	+0.058%	—	$11.0M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	85,450	−0.013%	$11.1M	$14.3M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	85,449.5	−0.013%	$200K	$3.3M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	85,438.5	−0.026%	$2.5M	$8.9M	100x	as long as short
Bluefin BTC-PERP	+0.0100%	1h	85,490.9	+0.035%	$206K	$738K	40x	as long as short
Derive BTC-PERP	+0.0100%	1h	85,439.4	−0.025%	$30.0M	$50.1M	15x	as long as short
SunX BTC-USDT	+0.0100%	8h	85,418.8	−0.049%	$2.9M	$6.1M	100x	as long as short
HTX BTC-USDT	+0.0100%	8h	85,435.8	−0.029%	$2.26B	$949.0M	200x	as long as short
Bulk BTC-USD	+0.0100%	1h	85,447	−0.016%	$679.5M	$701.9M	40x	as long as short
Reya BTCRUSDPERP	+0.0101%	1h	85,444.4	−0.019%	$6.6M	$147.1M	40x	as long as short
Extended BTC-USD	+0.0104%	1h	85,427.2	−0.040%	$45.1M	$233.7M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0048%	1h	85,452.6	−0.010%	—	$106.8M	500x	as long as short
Coinbase International BTC-PERP-INTX	+0.0104%	1h	85,481	+0.023%	$117.1M	$5.25B	50x	as long as short
Kraken Futures PF_XBTUSD	+0.0135%	1h	85,468.7	+0.009%	$187.6M	$954.5M	100x	as long as short
RISEx BTC/USDC	+0.0174%	1h	85,483.5	+0.026%	$8.6M	$43.0M	25x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0176% / S −0.0149%	1h	85,460.6	0.000%	$13.1M	—	200x	as long as short
Kalshi KXBTCPERP	+0.0182%	8h	85,474	+0.015%	$11.7M	$754.1M	6.4x	as long as short
Hibachi BTC/USDT-P	+0.0248%	1h	85,483.6	+0.026%	$696K	$7.9M	30x	as long as short
Aftermath Perps BTCUSD	+0.0256%	1h	85,504.6	+0.051%	$78K	$221K	20x	as long as short