Funding you earn now, next payment 09:00 UTC+0.0244%/8h= +26.7% APRnext payment +$0.30 per $10,000 · paid last 24h +0.031%
Price spread now: Hibachi against Bullet+0.018%7-day average +0.031% · 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−$20as in the Price arb table
costs, in and out, $10k−$190.187% of the position
Funding, last 4 days (all we have)+0.134%+$13 on $10k
+Price spread, last 7 days+0.016%+$2 · spread now +0.018%, 7d avg +0.031%
=Together, before fees+0.151%+ Points / potential airdropHibachi: Active · farm board+$15 on $10k · with fees, hour by hour
The price spread sits at its 7-day average of +0.031%, so right now this pair is about funding alone: +$7 a day on $10k at the current rate.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Bullet BTC-USD | 85,492.6 | 0.0100 | pay 0.0013% / 1h | 46m 52s | $201K | $3.3M | 20x |
| Short | Hibachi BTC/USDT-P | 85,508.2 | 0.0344 | get 0.0043% / 1h | 46m 52s | $688K | $7.7M | 30x |
Bullet BTC-USD
Hibachi BTC/USDT-PFunding history
latest
Range statsloading…
Price spread between the two exchanges
Hibachi against Bullet. 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
- $51.24
- Price spread: +0.018% → +0.031%
- −$1.32
- Slippage, 4 orders
- −$1.68
- Fee Bullet: 4 bp × 2 orders
- −$8
- Fee Hibachi: 4.5 bp × 2 orders
- −$9
- Net
- $31.24
- Costs to cover
- 0.187%
- Break-even
- 2.7 days
Slippage from Bullet: 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| Leg | Half-spread | $10k | $100k | $1M | $5M |
|---|---|---|---|---|---|
| Buy Bullet live order book, 2 min ago | 0.29 bp | 4.7 bp −$5 | 7.4 bp −$74 | doesn't fit | doesn't fit |
| Sell Hibachi live order book, 2 min ago | 0.01 bp | 4.7 bp −$5 | 5.2 bp −$52 | 42.3 bp −$4,226 | doesn't fit |
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 | |
|---|---|---|---|---|---|---|---|---|
| Hotstuff BTC-PERP | −0.0080% | 1h | 85,489 | −0.004% | $8K | $2K | 50x | as long as short |
| BloFin BTC-USDT | −0.0020% | 8h | 85,467.6 | −0.029% | $422.8M | $682.2M | 150x | as long as short |
| Injective BTC/USDC PERP | −0.0006% | 1h | 85,535 | +0.050% | $307K | $23.3M | 52x | as long as short |
| 01 Exchange BTCUSD | 0.0000% | 1h | 85,493.6 | +0.001% | $344K | $2.3M | 50x | as long as short |
| gTrade (Gains Network) BTC/USD | L +0.0004% / S −0.0004% | 1h | 85,494.9 | +0.003% | $36.6M | — | 200x | as long as short |
| KuCoin XBTUSDTM | +0.0008% | 8h | 85,467.4 | −0.029% | $932.6M | $776.7M | 125x | as long as short |
| Aster BTCUSDT | +0.0029% | 8h | 85,463.6 | −0.034% | $502.4M | $1.08B | 200x | as long as short |
| dYdX BTC-USD | +0.0036% | 1h | 85,475.8 | −0.020% | $16.7M | $21.0M | 50x | as long as short |
| Kraken Futures PF_XBTUSD | +0.0068% | 1h | 85,489.2 | −0.004% | $186.4M | $948.7M | 100x | as long as short |
| Phoenix BTC | +0.0075% | 1h | 85,516 | +0.027% | $2.3M | $10.4M | 40x | as long as short |
Hotstuff BTC-PERP
BloFin BTC-USDT
Injective BTC/USDC PERP
01 Exchange BTCUSD
gTrade (Gains Network) BTC/USD
KuCoin XBTUSDTM
Aster BTCUSDT
dYdX BTC-USD
Kraken Futures PF_XBTUSD
Phoenix BTCShow all 56 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| BingX BTC-USDC | +0.0080% | 8h | 85,455.4 | −0.044% | — | $17.4M | — | as long as short |
| Lighter BTC | +0.0096% | 1h | 85,487.3 | −0.006% | $170.5M | $941.6M | 50x | as long as short |
| Lighter RH BTC | +0.0096% | 1h | 85,485.8 | −0.008% | $23.6M | $133.7M | 50x | as long as short |
| Popdex BTCUSDT | +0.0096% | 1h | 85,490 | −0.003% | $8.7M | $58.4M | 100x | as long as short |
| Aevo BTC-PERP | +0.0096% | 1h | 85,458.4 | −0.040% | $2.4M | $6.7M | 20x | as long as short |
| Deribit BTC-PERPETUAL | +0.0099% | 1h | 85,509.2 | +0.019% | $831.3M | $1.66B | 50x | as long as short |
| Katana Perps BTC-USD | +0.0100% | 8h | 85,462 | −0.036% | $265K | $8.7M | 50x | as long as short |
| Paradex BTC-USD-PERP | +0.0100% | 8h | 85,531.7 | +0.046% | $5.7M | $9.6M | 50x | as long as short |
| Nado BTC-PERP | +0.0100% | 1h | 85,481.6 | −0.013% | $24.1M | $217.9M | 50x | as long as short |
| Pacifica BTC | +0.0100% | 1h | 85,511 | +0.022% | $40.1M | $605.5M | 50x | as long as short |
| Binance BTCUSDT | +0.0100% | 8h | 85,467 | −0.030% | $9.41B | $25.11B | 150x | as long as short |
| Bybit BTCUSDT | +0.0100% | 8h | 85,466.1 | −0.031% | $5.09B | $10.01B | 150x | as long as short |
| OKX BTC-USDT-SWAP | +0.0100% | 8h | 85,484.1 | −0.010% | $2.61B | $12.22B | 100x | as long as short |
| Ondo Perps BTC-USD.P | +0.0100% | 1h | 85,498 | +0.006% | $3.9M | $17.3M | 25x | as long as short |
| Arcus BTC-USD | +0.0100% | 1h | 85,493.7 | +0.001% | $4.6M | $97.6M | 40x | as long as short |
| Bulk BTC-USD | +0.0100% | 1h | 85,453 | −0.046% | $700.3M | $171.9M | 40x | as long as short |
| Gate BTC_USDT | +0.0100% | 8h | 85,471.1 | −0.025% | $5.50B | $9.86B | 200x | as long as short |
| MEXC BTC_USDT | +0.0100% | 8h | 85,467.1 | −0.030% | $5.06B | $5.72B | 500x | as long as short |
| Bitget BTCUSDT | +0.0100% | 8h | 85,466.3 | −0.031% | $2.98B | $5.16B | 150x | as long as short |
| Backpack BTC_USDC_PERP | +0.0100% | 1h | 85,469.8 | −0.027% | $37.8M | $193.8M | 75x | as long as short |
| Variational Omni BTC | +0.0100% | 8h | 85,465.8 | −0.031% | $155.8M | $547.5M | — | as long as short |
| edgeX BTCUSDC | +0.0100% | 4h | 85,452.5 | −0.047% | $283.3M | $961.3M | 100x | as long as short |
| GRVT BTC_USDT_Perp | +0.0100% | 8h | 85,471.5 | −0.025% | $214.7M | $156.3M | 50x | as long as short |
| ApeX Omni BTCUSDT | +0.0100% | 1h | 85,470.1 | −0.026% | $136.6M | $312.5M | 100x | as long as short |
| StandX BTC-USD | +0.0100% | 1h | 85,472.1 | −0.024% | $30.1M | $217.7M | 40x | as long as short |
| Vest BTC-PERP | +0.0100% | 1h | 85,557.3 | +0.076% | — | $9.7M | 50x | as long as short |
| Polymarket Perps BTC-USD | +0.0100% | 1h | 85,256 | −0.277% | $10.9M | $14.9M | 50x | as long as short |
| Bullet BTC-USDlong | +0.0100% | 1h | 85,492.6 | long leg | $201K | $3.3M | 20x | |
| Orderly PERP_BTC_USDC | +0.0100% | 8h | 85,472.2 | −0.024% | $2.7M | $9.9M | 100x | as long as short |
| Bluefin BTC-PERP | +0.0100% | 1h | 85,511.1 | +0.022% | $194K | $796K | 40x | as long as short |
| SunX BTC-USDT | +0.0100% | 8h | 85,488.3 | −0.005% | $2.9M | $6.6M | 100x | as long as short |
| SoDEX BTC-USD | +0.0100% | 1h | 85,469 | −0.028% | $59.8M | $336.7M | 40x | as long as short |
| HTX BTC-USDT | +0.0100% | 8h | 85,473.3 | −0.023% | $2.26B | $974.3M | 200x | as long as short |
| Phemex BTCUSDT | +0.0100% | 8h | 85,467.6 | −0.029% | $160.7M | $517.2M | 150x | as long as short |
| Extended BTC-USD | +0.0104% | 1h | 85,442.1 | −0.059% | $45.7M | $241.5M | 50x | as long as short |
| Jupiter Perps WBTC-PERP | L +0.0104% / S +0.0056% | 1h | 85,497.6 | +0.006% | — | $107.4M | 500x | as long as short |
| Coinbase International BTC-PERP-INTX | +0.0112% | 1h | 85,517 | +0.029% | $111.8M | $5.46B | 50x | as long as short |
| Reya BTCRUSDPERP | +0.0147% | 1h | 85,474.3 | −0.021% | $6.6M | $139.3M | 40x | as long as short |
| GMX BTC/USD [WBTC.b-USDC] | L +0.0174% / S −0.0148% | 1h | 85,474.8 | −0.021% | $13.0M | — | 200x | as long as short |
| Kalshi KXBTCPERP | +0.0189% | 8h | 85,516 | +0.027% | $10.6M | $738.9M | 6.4x | as long as short |
| RISEx BTC/USDC | +0.0194% | 1h | 85,488.6 | −0.005% | $8.9M | $42.8M | 25x | as long as short |
| Hyperliquid BTC | +0.0220% | 1h | 85,558 | +0.076% | $3.81B | $5.15B | 40x | as long as short |
| Derive BTC-PERP | +0.0240% | 1h | 85,554.9 | +0.073% | $28.9M | $49.3M | 15x | as long as short |
| Aftermath Perps BTCUSD | +0.0287% | 1h | 85,458 | −0.041% | $81K | $246K | 20x | as long as short |
| Hibachi BTC/USDT-Pshort | +0.0344% | 1h | 85,508.2 | +0.018% | $688K | $7.7M | 30x | |
| Perpl BTC | +0.0447% | 43m | 85,484.2 | −0.010% | $468K | $18.4M | 6.7x | as long as short |
BingX BTC-USDC
Lighter BTC
Lighter RH BTC
Popdex BTCUSDT
Aevo BTC-PERP
Deribit BTC-PERPETUAL
Katana Perps BTC-USD
Paradex BTC-USD-PERP
Nado BTC-PERP
Pacifica BTC
Binance BTCUSDT
Bybit BTCUSDT
OKX BTC-USDT-SWAP
Ondo Perps BTC-USD.P
Arcus BTC-USD
Bulk BTC-USD
Gate BTC_USDT
MEXC BTC_USDT
Bitget BTCUSDT
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
Orderly PERP_BTC_USDC
Bluefin BTC-PERP
SunX BTC-USDT
SoDEX BTC-USD
HTX BTC-USDT
Phemex BTCUSDT
Extended BTC-USD
Jupiter Perps WBTC-PERP
Coinbase International BTC-PERP-INTX
Reya BTCRUSDPERP
GMX BTC/USD [WBTC.b-USDC]
Kalshi KXBTCPERP
RISEx BTC/USDC
Hyperliquid BTC
Derive BTC-PERP
Aftermath Perps BTCUSD
Perpl BTC