Funding you earn now, next payment 05:00 UTC+0.0156%/8h= +17.1% APRpaid last 24h +0.033%
Price spread now: Hibachi against Bybit+0.086%55s7-day average +0.038% · you sell dearer than you buy
Net, funding: paid 7d − costs+$14as in the Funding arb table
Net, price: spread back to 7d avg − costs—prices read too far apart to compare
costs, in and out, $10k−$210.208% of the position
Funding, last 7 days+0.353%+$35 on $10k
+Price spread, last 7 days−0.039%−$4 · spread now +0.086%, 7d avg +0.038%
=Together, before fees+0.314%+ Points / potential airdropHibachi: Active · farm board+$31 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$5 a day on $10k at the current rate, and Hibachi is 0.048% dearer against Bybit than usual: you sell high and buy low: +$5 more if the spread goes back to its 7-day average of +0.038%. The two prices were read 55 seconds apart, so part of this spread may be the market moving, not a spread.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Bybit BTCUSDT | 85,621.9 | 0.0100 | pay 0.0100% / 8h | 3h 51m | $5.19B | $9.84B | 150x |
| Short | Hibachi BTC/USDT-P | 85,695.5 | 0.0256 | get 0.0032% / 1h | 51m 39s | $703K | $7.9M | 30x |
Bybit BTCUSDT
Hibachi BTC/USDT-PFunding history
latest
Range statsloading…
Price spread between the two exchanges
Hibachi against Bybit. 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
- $32.76
- Price spread: +0.086% → +0.038%
- $4.85
- Slippage, 4 orders
- −$0.76
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Fee Hibachi: 4.5 bp × 2 orders
- −$9
- Net
- $16.85
- Costs to cover
- 0.208%
- Break-even
- 3.4 days
Slippage from Bybit: live order book, 3 min ago; Hibachi: live order book, 3 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 Bybit live order book, 3 min ago | 0.01 bp | 5.5 bp −$6 | 5.5 bp −$55 | 5.6 bp −$556 | 7.0 bp −$3,506 |
| Sell Hibachi live order book, 3 min ago | 0.01 bp | 4.9 bp −$5 | 5.0 bp −$50 | 43.6 bp −$4,363 | 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 | |
|---|---|---|---|---|---|---|---|---|
| Phoenix BTC | −0.0140% | 1h | 85,646 | +0.028% | $2.1M | $10.4M | 40x | as long as short |
| Hotstuff BTC-PERP | −0.0080% | 1h | 85,637 | +0.018% | $8K | $3K | 50x | as long as short |
| KuCoin XBTUSDTM | −0.0038% | 8h | 85,615.8 | −0.007% | $917.2M | $756.0M | 125x | as long as short |
| BloFin BTC-USDT | −0.0020% | 8h | 85,679.8 | +0.068% | $418.1M | $676.0M | 150x | as long as short |
| 01 Exchange BTCUSD | −0.0016% | 1h | 85,645.9 | +0.028% | $366K | $2.3M | 50x | as long as short |
| dYdX BTC-USD | 0.0000% | 1h | 85,681.5 | +0.070% | $16.8M | $21.2M | 50x | as long as short |
| Nado BTC-PERP | +0.0001% | 1h | 85,640 | +0.021% | $24.8M | $222.7M | 50x | as long as short |
| gTrade (Gains Network) BTC/USD | L +0.0004% / S −0.0004% | 1h | 85,672.2 | +0.059% | $36.6M | — | 200x | as long as short |
| Aster BTCUSDT | +0.0013% | 8h | 85,637.2 | +0.018% | $515.9M | $1.10B | 200x | as long as short |
| Deribit BTC-PERPETUAL | +0.0042% | 1h | 85,690.8 | +0.080% | $884.9M | $1.59B | 50x | as long as short |
Phoenix BTC
Hotstuff BTC-PERP
KuCoin XBTUSDTM
BloFin BTC-USDT
01 Exchange BTCUSD
dYdX BTC-USD
Nado BTC-PERP
gTrade (Gains Network) BTC/USD
Aster BTCUSDT
Deribit BTC-PERPETUALShow all 56 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Injective BTC/USDC PERP | +0.0044% | 1h | 85,690 | +0.080% | $340K | $26.9M | 52x | as long as short |
| BingX BTC-USDT | +0.0063% | 8h | 85,627.7 | +0.007% | — | $1.55B | — | as long as short |
| Phemex BTCUSDT | +0.0068% | 8h | 85,644.5 | +0.026% | $148.8M | $490.2M | 150x | as long as short |
| Bitget BTCUSDT | +0.0081% | 8h | 85,623 | +0.001% | $2.96B | $5.10B | 150x | as long as short |
| Reya BTCRUSDPERP | +0.0091% | 1h | 85,660.5 | +0.045% | $6.6M | $146.9M | 40x | as long as short |
| Lighter BTC | +0.0096% | 1h | 85,650 | +0.033% | $172.2M | $1.01B | 50x | as long as short |
| Lighter RH BTC | +0.0096% | 1h | 85,657.7 | +0.042% | $23.9M | $147.9M | 50x | as long as short |
| Popdex BTCUSDT | +0.0096% | 1h | 85,622 | 0.000% | $8.7M | $54.2M | 100x | as long as short |
| Aevo BTC-PERP | +0.0096% | 1h | 85,653.5 | +0.037% | $2.5M | $1.7M | 20x | as long as short |
| SoDEX BTC-USD | +0.0100% | 1h | 85,651 | +0.034% | $60.0M | $336.1M | 40x | as long as short |
| Katana Perps BTC-USD | +0.0100% | 8h | 85,603 | −0.022% | $200K | $8.2M | 50x | as long as short |
| Paradex BTC-USD-PERP | +0.0100% | 8h | 85,709.1 | +0.102% | $5.5M | $9.2M | 50x | as long as short |
| Hyperliquid BTC | +0.0100% | 1h | 85,739 | +0.137% | $3.79B | $5.01B | 40x | as long as short |
| Pacifica BTC | +0.0100% | 1h | 85,666.5 | +0.052% | $40.5M | $582.0M | 50x | as long as short |
| Binance BTCUSDT | +0.0100% | 8h | 85,622.7 | +0.001% | $9.41B | $24.30B | 150x | as long as short |
| Bybit BTCUSDTlong | +0.0100% | 8h | 85,621.9 | long leg | $5.19B | $9.84B | 150x | |
| OKX BTC-USDT-SWAP | +0.0100% | 8h | 85,639.3 | +0.020% | $2.59B | $12.16B | 100x | as long as short |
| Ondo Perps BTC-USD.P | +0.0100% | 1h | 85,606 | −0.019% | $3.8M | $17.8M | 25x | as long as short |
| Arcus BTC-USD | +0.0100% | 1h | 85,618.3 | −0.004% | $4.3M | $98.4M | 40x | as long as short |
| Gate BTC_USDT | +0.0100% | 8h | 85,634.4 | +0.015% | $5.53B | $10.75B | 200x | as long as short |
| MEXC BTC_USDT | +0.0100% | 8h | 85,625.6 | +0.004% | $5.07B | $5.63B | 500x | as long as short |
| Backpack BTC_USDC_PERP | +0.0100% | 1h | 85,641.2 | +0.023% | $35.9M | $176.5M | 75x | as long as short |
| Variational Omni BTC | +0.0100% | 8h | 85,637.7 | +0.018% | $153.8M | $564.1M | — | as long as short |
| edgeX BTCUSDC | +0.0100% | 4h | 85,619.2 | −0.003% | $279.6M | $925.3M | 100x | as long as short |
| GRVT BTC_USDT_Perp | +0.0100% | 8h | 85,677.6 | +0.065% | $215.0M | $168.4M | 50x | as long as short |
| ApeX Omni BTCUSDT | +0.0100% | 1h | 85,670.8 | +0.057% | $140.1M | $315.7M | 100x | as long as short |
| StandX BTC-USD | +0.0100% | 1h | 85,680 | +0.068% | $30.3M | $208.2M | 40x | as long as short |
| Vest BTC-PERP | +0.0100% | 1h | 85,694.9 | +0.085% | — | $11.8M | 50x | as long as short |
| Polymarket Perps BTC-USD | +0.0100% | 1h | 85,661 | +0.046% | $11.1M | $14.3M | 50x | as long as short |
| Bullet BTC-USD | +0.0100% | 1h | 85,661 | +0.046% | $195K | $3.3M | 20x | as long as short |
| Orderly PERP_BTC_USDC | +0.0100% | 8h | 85,657.2 | +0.041% | $2.4M | $8.7M | 100x | as long as short |
| Bluefin BTC-PERP | +0.0100% | 1h | 85,702.5 | +0.094% | $207K | $739K | 40x | as long as short |
| Derive BTC-PERP | +0.0100% | 1h | 85,652.2 | +0.035% | $30.0M | $50.1M | 15x | as long as short |
| SunX BTC-USDT | +0.0100% | 8h | 85,640.8 | +0.022% | $2.9M | $6.1M | 100x | as long as short |
| HTX BTC-USDT | +0.0100% | 8h | 85,639 | +0.020% | $2.27B | $946.4M | 200x | as long as short |
| Bulk BTC-USD | +0.0100% | 1h | 85,665.1 | +0.050% | $677.0M | $718.2M | 40x | as long as short |
| Extended BTC-USD | +0.0104% | 1h | 85,595.5 | −0.031% | $44.8M | $231.4M | 50x | as long as short |
| Jupiter Perps WBTC-PERP | L +0.0104% / S +0.0048% | 1h | 85,710.2 | +0.103% | — | $107.8M | 500x | as long as short |
| Coinbase International BTC-PERP-INTX | +0.0104% | 1h | 85,683.3 | +0.072% | $117.4M | $5.22B | 50x | as long as short |
| Kraken Futures PF_XBTUSD | +0.0135% | 1h | 85,664.8 | +0.050% | $188.3M | $956.9M | 100x | as long as short |
| RISEx BTC/USDC | +0.0174% | 1h | 85,661.7 | +0.047% | $8.9M | $42.8M | 25x | as long as short |
| GMX BTC/USD [WBTC.b-USDC] | L +0.0201% / S −0.0177% | 1h | 85,671 | +0.057% | $13.1M | — | 200x | as long as short |
| Kalshi KXBTCPERP | +0.0222% | 8h | 85,692 | +0.082% | $12.0M | $757.2M | 6.4x | as long as short |
| Aftermath Perps BTCUSD | +0.0229% | 1h | 85,667.7 | +0.053% | $78K | $220K | 20x | as long as short |
| Hibachi BTC/USDT-Pshort | +0.0256% | 1h | 85,695.5 | +0.086% | $703K | $7.9M | 30x | |
| Perpl BTC | +0.0335% | 43m | 85,696.7 | +0.087% | $503K | $18.8M | 6.7x | as long as short |
Injective BTC/USDC PERP
BingX BTC-USDT
Phemex BTCUSDT
Bitget BTCUSDT
Reya BTCRUSDPERP
Lighter BTC
Lighter RH BTC
Popdex BTCUSDT
Aevo BTC-PERP
SoDEX BTC-USD
Katana Perps BTC-USD
Paradex BTC-USD-PERP
Hyperliquid BTC
Pacifica BTC
Binance BTCUSDT
OKX BTC-USDT-SWAP
Ondo Perps BTC-USD.P
Arcus BTC-USD
Gate BTC_USDT
MEXC 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
Bluefin BTC-PERP
Derive BTC-PERP
SunX BTC-USDT
HTX BTC-USDT
Bulk BTC-USD
Extended BTC-USD
Jupiter Perps WBTC-PERP
Coinbase International BTC-PERP-INTX
Kraken Futures PF_XBTUSD
RISEx BTC/USDC
GMX BTC/USD [WBTC.b-USDC]
Kalshi KXBTCPERP
Aftermath Perps BTCUSD
Perpl BTC