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Funding arb · Price arb /

BTC

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Alert: funding
Measured
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Alert: spread
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Funding you earn now, next payment 01:00 UTC+0.0099%/8h= +10.9% APRpaid last 24h +0.046%
Price spread now: Hibachi against Binance+0.106%7-day average +0.038% · you sell dearer than you buy
Net, funding: paid 7d − costs+$15as in the Funding arb table
Net, price: spread back to 7d avg − costs−$13as in the Price arb table
costs, in and out, $10k−$190.195% of the position
Long on BinanceShort on Hibachi
What this pair did over the last
the charts below follow
Funding, last 7 days+0.343%+$34 on $10k
Price spread, last 7 days−0.059%−$6 · spread now +0.106%, 7d avg +0.038%
Together, before fees+0.285%+ Points / potential airdropHibachi: Active · farm board+$28 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and Hibachi is 0.069% dearer against Binance than usual: you sell high and buy low: +$7 more if the spread goes back to its 7-day average of +0.038%.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongBinance BTCUSDT86,471.40.0077pay 0.0077% / 8h7h 57m$9.44B$24.53B150x
ShortHibachi BTC/USDT-P86,563.50.0176get 0.0022% / 1h57m 20s$716K$8.0M30x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Hibachi against Binance. 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

Funding earned
$20.85
Price spread: +0.106% → +0.038%
$6.87
Slippage, 4 orders
−$0.47
Fee Binance: 5 bp × 2 orders
−$10
Fee Hibachi: 4.5 bp × 2 orders
−$9
Net
$8.25
Costs to cover
0.195%
Break-even
4.2 days
Slippage from Binance: live order book, 2 min ago; Hibachi: live order book, 2 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy Binance live order book, 2 min ago0.01 bp5.0 bp −$55.0 bp −$505.7 bp −$5697.2 bp −$3,613
Sell Hibachi live order book, 2 min ago0.01 bp4.5 bp −$54.5 bp −$4564.5 bp −$6,454doesn't fit

BTC on 56 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Bluefin BTC-PERP−0.1481%1h86,487.5+0.019%$140K$664K40xas long as short
Phoenix BTC−0.0118%1h86,544+0.084%$2.2M$11.2M40xas long as short
Hotstuff BTC-PERP−0.0080%1h86,487+0.018%$9K$3K50xas long as short
01 Exchange BTCUSD−0.0032%1h86,492.8+0.025%$361K$2.4M50xas long as short
Perpl BTC0.0000%43m86,492+0.024%$413K$22.2M6.7xas long as short
gTrade (Gains Network) BTC/USDL +0.0005% / S −0.0004%1h86,494.6+0.027%$37.0M—200xas long as short
dYdX BTC-USD+0.0013%1h86,503+0.037%$16.9M$21.2M50xas long as short
Aster BTCUSDT+0.0015%8h86,480.6+0.011%$501.6M$1.15B200xas long as short
Injective BTC/USDC PERP+0.0023%1h86,616+0.167%$333K$26.9M52xas long as short
KuCoin XBTUSDTM+0.0028%8h86,472+0.001%$834.5M$727.9M125xas long as short
Show all 56 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Bybit BTCUSDT+0.0039%8h86,472.4+0.001%$5.27B$9.77B150xas long as short
Reya BTCRUSDPERP+0.0039%1h86,467.9−0.004%$6.7M$145.7M40xas long as short
BingX BTC-USDT+0.0046%8h86,478.2+0.008%—$1.59B—as long as short
RISEx BTC/USDC+0.0052%1h86,506+0.040%$8.4M$42.8M25xas long as short
Bitget BTCUSDT+0.0058%8h86,445.7−0.030%$2.97B$5.11B150xas long as short
SoDEX BTC-USD+0.0065%1h86,520+0.056%$60.5M$338.0M40xas long as short
MEXC BTC_USDT+0.0076%8h86,467.4−0.005%$5.14B$5.64B500xas long as short
Binance BTCUSDTlong+0.0077%8h86,471.4long leg$9.44B$24.53B150x
Aevo BTC-PERP+0.0080%1h86,468.9−0.003%$2.5M$1.3M20xas long as short
Deribit BTC-PERPETUAL+0.0092%1h86,559.2+0.102%$909.6M$1.50B50xas long as short
Lighter BTC+0.0096%1h86,499.8+0.033%$170.3M$979.6M50xas long as short
Lighter RH BTC+0.0096%1h86,520.1+0.056%$23.7M$148.5M50xas long as short
Popdex BTCUSDT+0.0096%1h86,473+0.002%$8.4M$52.3M100xas long as short
Katana Perps BTC-USD+0.0100%8h86,476+0.005%$201K$7.1M50xas long as short
Paradex BTC-USD-PERP+0.0100%8h86,515.6+0.051%$4.8M$8.5M50xas long as short
Nado BTC-PERP+0.0100%1h86,504.4+0.038%$22.1M$233.5M50xas long as short
Hyperliquid BTC+0.0100%1h86,551+0.092%$3.80B$5.11B40xas long as short
Pacifica BTC+0.0100%1h86,522.8+0.059%$40.8M$540.8M50xas long as short
OKX BTC-USDT-SWAP+0.0100%8h86,460.6−0.012%$2.55B$12.71B100xas long as short
Ondo Perps BTC-USD.P+0.0100%1h86,511+0.046%$3.9M$18.1M25xas long as short
Arcus BTC-USD+0.0100%1h86,525+0.062%$7.3M$96.7M40xas long as short
Bulk BTC-USD+0.0100%1h86,523.6+0.060%$572.9M$12.4M40xas long as short
Gate BTC_USDT+0.0100%8h86,474+0.003%$5.87B$10.42B200xas long as short
Backpack BTC_USDC_PERP+0.0100%1h86,527.3+0.065%$37.8M$156.3M75xas long as short
Variational Omni BTC+0.0100%8h86,554.4+0.096%$157.4M$568.6M—as long as short
edgeX BTCUSDC+0.0100%4h86,572.4+0.117%$279.6M$946.5M100xas long as short
GRVT BTC_USDT_Perp+0.0100%8h86,585.4+0.132%$217.4M$171.3M50xas long as short
ApeX Omni BTCUSDT+0.0100%1h86,575+0.120%$141.8M$323.5M100xas long as short
StandX BTC-USD+0.0100%1h86,558+0.100%$30.7M$208.1M40xas long as short
Vest BTC-PERP+0.0100%1h86,533.5+0.072%—$11.9M50xas long as short
Polymarket Perps BTC-USD+0.0100%1h86,467−0.005%$11.1M$13.9M50xas long as short
Bullet BTC-USD+0.0100%1h86,472.4+0.001%$193K$3.3M20xas long as short
Orderly PERP_BTC_USDC+0.0100%8h86,442.9−0.033%$2.5M$9.3M100xas long as short
Derive BTC-PERP+0.0100%1h86,480.6+0.011%$30.5M$62.6M15xas long as short
SunX BTC-USDT+0.0100%8h86,529.9+0.068%$3.4M$5.3M100xas long as short
HTX BTC-USDT+0.0100%8h86,516.5+0.052%$2.30B$969.9M200xas long as short
Phemex BTCUSDT+0.0100%8h86,533.9+0.072%$152.8M$479.5M150xas long as short
Extended BTC-USD+0.0104%1h86,473+0.002%$45.8M$224.8M50xas long as short
Jupiter Perps WBTC-PERPL +0.0104% / S +0.0048%1h86,533.3+0.072%—$100.0M500xas long as short
Coinbase International BTC-PERP-INTX+0.0120%1h86,563+0.106%$132.2M$5.63B50xas long as short
Kraken Futures PF_XBTUSD+0.0121%1h86,550.3+0.091%$193.4M$951.1M100xas long as short
Aftermath Perps BTCUSD+0.0163%1h86,556.4+0.098%$78K$219K20xas long as short
Hibachi BTC/USDT-Pshort+0.0176%1h86,563.5+0.106%$716K$8.0M30x
BloFin BTC-USDT+0.0197%8h86,561+0.104%$415.4M$659.9M150xas long as short
GMX BTC/USD [WBTC.b-USDC]L +0.0201% / S −0.0224%1h86,488+0.019%$14.9M—200xas long as short
Kalshi KXBTCPERP+0.0210%8h86,576+0.121%$10.0M$756.5M6.4xas long as short