Funding you earn now, next payment 02:00 UTC+0.0092%/8h= +10.1% APRnext payment +$0.12 per $10,000 · paid last 24h +0.209%
Price spread now: Hibachi against Bluefin−0.091%7-day average +0.061% · you buy dearer than you sell
Net, funding: paid 7d − costs+$39as in the Funding arb table
Net, price: spread back to 7d avg − costs−$37as in the Price arb table
costs, in and out, $10k−$210.215% of the position
Funding, last 7 days+0.606%+$61 on $10k
+Price spread, last 3 days (all we have)+0.155%+$15 · spread now −0.091%, 7d avg +0.061%
=Together, before fees+0.761%+ Points / potential airdropHibachi: Active · farm board+$76 on $10k · with fees, hour by hour
Funding pays, the price is against you. Hibachi is 0.152% cheaper against Bluefin than usual: you would sell low and buy high (spread −0.091% now, against its 7-day average of +0.061%). If the spread goes back, that is −$15 on $10k: about 5.5 days of funding at the current rate (+$3 a day). At the pace of the last 7 days (+0.606% in total) that is about 42 hours.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Bluefin BTC-PERP | 85,630.3 | 0.0100 | pay 0.0013% / 1h | 58m 38s | $197K | $722K | 40x |
| Short | Hibachi BTC/USDT-P | 85,552.1 | 0.0192 | get 0.0024% / 1h | 58m 38s | $682K | $7.8M | 30x |
Bluefin BTC-PERP
Hibachi BTC/USDT-PFunding history
latest
Range statsloading…
Price spread between the two exchanges
Hibachi against Bluefin. 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
- $19.32
- Price spread: −0.091% → +0.061%
- −$15.19
- Slippage, 4 orders
- −$5.45
- Fee Bluefin: 3.5 bp × 2 orders
- −$7
- Fee Hibachi: 4.5 bp × 2 orders
- −$9
- Net
- −$17.32
- Costs to cover
- 0.215%
- Break-even
- 13.3 days
Slippage from Bluefin: live order book, 6 min ago; Hibachi: 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 Bluefin live order book, 6 min ago | 0.88 bp | 6.0 bp −$6 | 10.7 bp −$107 | doesn't fit | doesn't fit |
| Sell Hibachi live order book, 1 min ago | 0.01 bp | 4.9 bp −$5 | 5.4 bp −$54 | 43.5 bp −$4,348 | doesn't fit |
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 | −0.0144% | 1h | 85,498 | −0.155% | $2.1M | $10.1M | 40x | as long as short |
| Hotstuff BTC-PERP | −0.0080% | 1h | 85,608 | −0.026% | $8K | $3K | 50x | as long as short |
| 01 Exchange BTCUSD | −0.0056% | 1h | 85,565.3 | −0.076% | $362K | $2.3M | 50x | as long as short |
| Nado BTC-PERP | −0.0033% | 1h | 85,588.3 | −0.049% | $22.6M | $224.8M | 50x | as long as short |
| dYdX BTC-USD | 0.0000% | 1h | 85,585.5 | −0.052% | $16.7M | $20.9M | 50x | as long as short |
| gTrade (Gains Network) BTC/USD | L +0.0004% / S −0.0004% | 1h | 85,599.5 | −0.036% | $36.7M | — | 200x | as long as short |
| Aster BTCUSDT | +0.0021% | 8h | 85,548.9 | −0.095% | $515.7M | $1.12B | 200x | as long as short |
| KuCoin XBTUSDTM | +0.0023% | 8h | 85,553.1 | −0.090% | $901.9M | $748.0M | 125x | as long as short |
| SoDEX BTC-USD | +0.0053% | 1h | 85,586 | −0.052% | $59.9M | $336.4M | 40x | as long as short |
| BingX BTC-USDT | +0.0055% | 8h | 85,550.6 | −0.093% | — | $1.54B | — | as long as short |
Phoenix BTC
Hotstuff BTC-PERP
01 Exchange BTCUSD
Nado BTC-PERP
dYdX BTC-USD
gTrade (Gains Network) BTC/USD
Aster BTCUSDT
KuCoin XBTUSDTM
SoDEX BTC-USD
BingX BTC-USDTShow all 55 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| HTX BTC-USDT | +0.0056% | 8h | 85,585.8 | −0.052% | $2.27B | $932.8M | 200x | as long as short |
| Reya BTCRUSDPERP | +0.0063% | 1h | 85,578.1 | −0.061% | $6.7M | $146.4M | 40x | as long as short |
| Bitget BTCUSDT | +0.0068% | 8h | 85,544.6 | −0.100% | $2.94B | $5.02B | 150x | as long as short |
| Popdex BTCUSDT | +0.0072% | 1h | 85,550 | −0.094% | $8.4M | $51.5M | 100x | as long as short |
| SunX BTC-USDT | +0.0077% | 8h | 85,568.6 | −0.072% | $2.9M | $6.5M | 100x | as long as short |
| Injective BTC/USDC PERP | +0.0079% | 1h | 85,617 | −0.016% | $340K | $26.9M | 52x | as long as short |
| Aevo BTC-PERP | +0.0080% | 1h | 85,580.2 | −0.059% | $2.5M | $1.7M | 20x | as long as short |
| MEXC BTC_USDT | +0.0085% | 8h | 85,550 | −0.094% | $5.07B | $5.56B | 500x | as long as short |
| Binance BTCUSDT | +0.0085% | 8h | 85,550.1 | −0.094% | $9.33B | $23.91B | 150x | as long as short |
| Lighter BTC | +0.0096% | 1h | 85,555.9 | −0.087% | $170.2M | $980.3M | 50x | as long as short |
| Lighter RH BTC | +0.0096% | 1h | 85,558.6 | −0.084% | $23.9M | $146.7M | 50x | as long as short |
| Paradex BTC-USD-PERP | +0.0099% | 8h | 85,598.1 | −0.038% | $3.8M | $8.3M | 50x | as long as short |
| Katana Perps BTC-USD | +0.0100% | 8h | 85,526 | −0.122% | $204K | $7.6M | 50x | as long as short |
| Hyperliquid BTC | +0.0100% | 1h | 85,626 | −0.005% | $3.76B | $4.92B | 40x | as long as short |
| Pacifica BTC | +0.0100% | 1h | 85,590.2 | −0.047% | $40.1M | $571.6M | 50x | as long as short |
| Bybit BTCUSDT | +0.0100% | 8h | 85,566.7 | −0.074% | $5.32B | $9.61B | 150x | as long as short |
| OKX BTC-USDT-SWAP | +0.0100% | 8h | 85,545.6 | −0.099% | $2.56B | $12.12B | 100x | as long as short |
| Ondo Perps BTC-USD.P | +0.0100% | 1h | 85,550 | −0.094% | $3.9M | $17.8M | 25x | as long as short |
| Arcus BTC-USD | +0.0100% | 1h | 85,525 | −0.123% | $7.1M | $96.4M | 40x | as long as short |
| Gate BTC_USDT | +0.0100% | 8h | 85,561.3 | −0.081% | $5.58B | $10.37B | 200x | as long as short |
| Backpack BTC_USDC_PERP | +0.0100% | 1h | 85,581.9 | −0.057% | $34.9M | $168.5M | 75x | as long as short |
| Variational Omni BTC | +0.0100% | 8h | 85,545 | −0.100% | $154.0M | $554.0M | — | as long as short |
| edgeX BTCUSDC | +0.0100% | 4h | 85,553.1 | −0.090% | $278.3M | $939.9M | 100x | as long as short |
| GRVT BTC_USDT_Perp | +0.0100% | 8h | 85,624 | −0.007% | $214.9M | $162.9M | 50x | as long as short |
| ApeX Omni BTCUSDT | +0.0100% | 1h | 85,552.6 | −0.091% | $139.9M | $316.3M | 100x | as long as short |
| StandX BTC-USD | +0.0100% | 1h | 85,571.8 | −0.068% | $30.2M | $211.0M | 40x | as long as short |
| Vest BTC-PERP | +0.0100% | 1h | 85,628.4 | −0.002% | — | $11.8M | 50x | as long as short |
| Polymarket Perps BTC-USD | +0.0100% | 1h | 85,582 | −0.056% | $11.0M | $14.1M | 50x | as long as short |
| Bullet BTC-USD | +0.0100% | 1h | 85,591 | −0.046% | $187K | $3.3M | 20x | as long as short |
| Orderly PERP_BTC_USDC | +0.0100% | 8h | 85,585.8 | −0.052% | $2.4M | $8.9M | 100x | as long as short |
| Bluefin BTC-PERPlong | +0.0100% | 1h | 85,630.3 | long leg | $197K | $722K | 40x | |
| Derive BTC-PERP | +0.0100% | 1h | 85,586.8 | −0.051% | $30.0M | $52.7M | 15x | as long as short |
| Phemex BTCUSDT | +0.0100% | 8h | 85,585.7 | −0.052% | $150.0M | $479.7M | 150x | as long as short |
| Bulk BTC-USD | +0.0100% | 1h | 85,593.2 | −0.043% | $605.0M | $283.5M | 40x | as long as short |
| Extended BTC-USD | +0.0104% | 1h | 85,529.3 | −0.118% | $44.2M | $227.5M | 50x | as long as short |
| Jupiter Perps WBTC-PERP | L +0.0104% / S +0.0056% | 1h | 85,527.7 | −0.120% | — | $101.7M | 500x | as long as short |
| Coinbase International BTC-PERP-INTX | +0.0112% | 1h | 85,629.3 | −0.001% | $130.5M | $5.08B | 50x | as long as short |
| RISEx BTC/USDC | +0.0120% | 1h | 85,581.4 | −0.057% | $8.4M | $42.1M | 25x | as long as short |
| Kraken Futures PF_XBTUSD | +0.0138% | 1h | 85,610 | −0.024% | $187.1M | $951.6M | 100x | as long as short |
| Aftermath Perps BTCUSD | +0.0186% | 1h | 85,619.9 | −0.012% | $78K | $219K | 20x | as long as short |
| Hibachi BTC/USDT-Pshort | +0.0192% | 1h | 85,552.1 | −0.091% | $682K | $7.8M | 30x | |
| Deribit BTC-PERPETUAL | +0.0196% | 1h | 85,637.1 | +0.008% | $894.8M | $1.52B | 50x | as long as short |
| GMX BTC/USD [WBTC.b-USDC] | L +0.0203% / S −0.0186% | 1h | 85,596.9 | −0.039% | $13.5M | — | 200x | as long as short |
| Kalshi KXBTCPERP | +0.0212% | 8h | 85,617 | −0.016% | $10.3M | $765.0M | 6.4x | as long as short |
| Perpl BTC | +0.0447% | 43m | 85,585.2 | −0.053% | $510K | $19.7M | 6.7x | as long as short |
HTX BTC-USDT
Reya BTCRUSDPERP
Bitget BTCUSDT
Popdex BTCUSDT
SunX BTC-USDT
Injective BTC/USDC PERP
Aevo BTC-PERP
MEXC BTC_USDT
Binance BTCUSDT
Lighter BTC
Lighter RH BTC
Paradex BTC-USD-PERP
Katana Perps BTC-USD
Hyperliquid BTC
Pacifica BTC
Bybit BTCUSDT
OKX BTC-USDT-SWAP
Ondo Perps BTC-USD.P
Arcus BTC-USD
Gate BTC_USDT
Backpack BTC_USDC_PERP
Variational Omni BTC
edgeX BTCUSDC
GRVT BTC_USDT_Perp
ApeX Omni BTCUSDT
StandX BTC-USD
Vest BTC-PERP
Polymarket Perps BTC-USD
Bullet BTC-USD
Orderly PERP_BTC_USDC
Derive BTC-PERP
Phemex BTCUSDT
Bulk BTC-USD
Extended BTC-USD
Jupiter Perps WBTC-PERP
Coinbase International BTC-PERP-INTX
RISEx BTC/USDC
Kraken Futures PF_XBTUSD
Aftermath Perps BTCUSD
Deribit BTC-PERPETUAL
GMX BTC/USD [WBTC.b-USDC]
Kalshi KXBTCPERP
Perpl BTC