Settings8H · net · $10k
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Funding arb · Price arb /

BTC

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Alert: funding
Measured
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Checked every minute; it has to hold two checks in a row. Delivery to Telegram comes later, so for now alerts appear on the alerts page.

Alert: spread
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Funding you earn now, next payment 22:00 UTC+0.0124%/8h= +13.6% APRnext payment +$0.15 per $10,000 · paid last 24h +0.041%
Price spread now: Hibachi against Bulk+0.073%7-day average +0.039% · 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−$13as in the Price arb table
costs, in and out, $10k−$160.165% of the position
Long on BulkShort on Hibachi
What this pair did over the last
the charts below follow
Funding, last 3 days (all we have)+0.109%+$11 on $10k
Price spread, last 7 days−0.027%−$3 · spread now +0.073%, 7d avg +0.039%
Together, before fees+0.082%+ Points / potential airdropHibachi: Active · farm board+$8 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$4 a day on $10k at the current rate, and Hibachi is 0.035% dearer against Bulk than usual: you sell high and buy low: +$3 more if the spread goes back to its 7-day average of +0.039%.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongBulk BTC-USD86,577.90.0100pay 0.0013% / 1h29m 32s$571.8M$22.4M40x
ShortHibachi BTC/USDT-P86,641.40.0224get 0.0028% / 1h29m 32s$614K$7.1M30x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Hibachi against Bulk. Falling: the short leg gains. Rising: it loses.
latest
Price spreadloading…

Funding on every exchange

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latest
How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Funding earned
$26.04
Price spread: +0.073% → +0.039%
$3.47
Slippage, 4 orders
−$0.49
Fee Bulk: 3.5 bp × 2 orders
−$7
Fee Hibachi: 4.5 bp × 2 orders
−$9
Net
$13.02
Costs to cover
0.165%
Break-even
3.5 days
Slippage from Bulk: live order book, 5 min ago; Hibachi: live order book, 5 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 Bulk live order book, 5 min ago0.01 bp3.5 bp −$43.5 bp −$353.5 bp −$3514.4 bp −$2,185
Sell Hibachi live order book, 5 min ago0.01 bp4.6 bp −$55.2 bp −$5243.4 bp −$4,341doesn'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
Aftermath Perps BTCUSD−0.0234%1h86,607.4+0.034%$85K$188K20xas long as short
Perpl BTC−0.0223%43m86,633.4+0.064%$428K$24.9M6.7xas long as short
Phoenix BTC−0.0103%1h86,590+0.014%$2.2M$12.4M40xas long as short
Hotstuff BTC-PERP−0.0080%1h86,612+0.039%$9K$3K50xas long as short
dYdX BTC-USD−0.0079%1h86,626.4+0.056%$17.6M$20.5M50xas long as short
01 Exchange BTCUSD0.0000%1h86,623+0.052%$362K$2.4M50xas long as short
Deribit BTC-PERPETUAL0.0000%1h86,621.9+0.051%$935.1M$1.44B50xas long as short
KuCoin XBTUSDTM+0.0003%8h86,592.7+0.017%$843.7M$704.8M125xas long as short
gTrade (Gains Network) BTC/USDL +0.0004% / S −0.0004%1h86,628.7+0.059%$37.0M—200xas long as short
Aster BTCUSDT+0.0007%8h86,582.7+0.006%$505.7M$1.16B200xas long as short
Show all 56 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Reya BTCRUSDPERP+0.0021%1h86,593.9+0.019%$6.7M$144.4M40xas long as short
BingX BTC-USDC+0.0023%8h86,591.8+0.016%—$15.3M—as long as short
Phemex BTCUSDT+0.0026%8h86,590.2+0.014%$149.7M$471.4M150xas long as short
Bitget BTCUSDT+0.0031%8h86,599.9+0.025%$2.95B$5.07B150xas long as short
Injective BTC/USDC PERP+0.0049%1h86,639+0.071%$315K$26.8M52xas long as short
MEXC BTC_USDT+0.0053%8h86,596.5+0.022%$5.19B$5.67B500xas long as short
Binance BTCUSDT+0.0054%8h86,596.5+0.022%$9.44B$24.31B150xas long as short
Aevo BTC-PERP+0.0056%1h86,595.7+0.021%$2.4M$1.3M20xas long as short
RISEx BTC/USDC+0.0063%1h86,604.4+0.031%$9.2M$42.0M25xas long as short
OKX BTC-USDT-SWAP+0.0075%8h86,610.3+0.037%$2.56B$12.70B100xas long as short
Gate BTC_USDT+0.0076%8h86,599.9+0.025%$5.86B$10.64B200xas long as short
Bybit BTCUSDT+0.0082%8h86,593.8+0.018%$5.27B$9.67B150xas long as short
Variational Omni BTC+0.0095%8h86,614.5+0.042%$160.3M$564.8M—as long as short
Lighter BTC+0.0096%1h86,610.7+0.038%$172.0M$1.01B50xas long as short
Lighter RH BTC+0.0096%1h86,615.2+0.043%$24.0M$153.5M50xas long as short
Popdex BTCUSDT+0.0096%1h86,597+0.022%$8.5M$52.3M100xas long as short
Katana Perps BTC-USD+0.0100%8h86,584+0.007%$193K$6.8M50xas long as short
Paradex BTC-USD-PERP+0.0100%8h86,647.3+0.080%$4.8M$8.2M50xas long as short
Nado BTC-PERP+0.0100%1h86,596.6+0.022%$21.7M$235.4M50xas long as short
Hyperliquid BTC+0.0100%1h86,673+0.110%$3.82B$5.13B40xas long as short
Pacifica BTC+0.0100%1h86,629.4+0.059%$40.9M$492.6M50xas long as short
Ondo Perps BTC-USD.P+0.0100%1h86,600+0.026%$3.9M$18.5M25xas long as short
Arcus BTC-USD+0.0100%1h86,667.3+0.103%$7.5M$93.7M40xas long as short
Bulk BTC-USDlong+0.0100%1h86,577.9long leg$571.8M$22.4M40x
Backpack BTC_USDC_PERP+0.0100%1h86,594.1+0.019%$38.1M$148.4M75xas long as short
edgeX BTCUSDC+0.0100%4h86,587+0.011%$279.7M$950.9M100xas long as short
GRVT BTC_USDT_Perp+0.0100%8h86,622.1+0.051%$217.5M$187.8M50xas long as short
ApeX Omni BTCUSDT+0.0100%1h86,626.6+0.056%$141.4M$322.8M100xas long as short
StandX BTC-USD+0.0100%1h86,606.5+0.033%$30.8M$205.3M40xas long as short
Vest BTC-PERP+0.0100%1h86,656.4+0.091%—$11.6M50xas long as short
Polymarket Perps BTC-USD+0.0100%1h86,597+0.022%$11.1M$13.7M50xas long as short
Bullet BTC-USD+0.0100%1h86,605+0.031%$194K$3.4M20xas long as short
Orderly PERP_BTC_USDC+0.0100%8h86,610+0.037%$2.5M$8.5M100xas long as short
Bluefin BTC-PERP+0.0100%1h86,625.8+0.055%$141K$619K40xas long as short
Derive BTC-PERP+0.0100%1h86,600.1+0.026%$30.0M$61.6M15xas long as short
SunX BTC-USDT+0.0100%8h86,612.9+0.040%$3.4M$5.5M100xas long as short
SoDEX BTC-USD+0.0100%1h86,591+0.015%$60.5M$336.4M40xas long as short
HTX BTC-USDT+0.0100%8h86,598.6+0.024%$2.30B$957.1M200xas long as short
Extended BTC-USD+0.0104%1h86,585.3+0.009%$46.4M$227.9M50xas long as short
Jupiter Perps WBTC-PERPL +0.0104% / S +0.0048%1h86,638.6+0.070%—$98.4M500xas long as short
Kraken Futures PF_XBTUSD+0.0117%1h86,619.4+0.048%$188.7M$930.9M100xas long as short
Coinbase International BTC-PERP-INTX+0.0120%1h86,634.6+0.066%$132.0M$5.86B50xas long as short
Kalshi KXBTCPERP+0.0124%8h86,640+0.072%$8.9M$723.8M6.4xas long as short
BloFin BTC-USDT+0.0173%8h86,599.6+0.025%$416.9M$652.8M150xas long as short
GMX BTC/USD [WBTC.b-USDC]L +0.0178% / S −0.0185%1h86,620.6+0.049%$14.9M—200xas long as short
Hibachi BTC/USDT-Pshort+0.0224%1h86,641.4+0.073%$614K$7.1M30x