Funding you earn now, next payment 11:00 UTC+0.0152%/8h= +16.6% APRnext payment +$0.19 per $10,000 · paid last 24h +0.023%
Price spread now: Hibachi against Coinbase International+0.042%7-day average −0.001% · 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−$15as in the Price arb table
costs, in and out, $10k−$190.191% of the position
Funding, last 7 days+0.332%+$33 on $10k
+Price spread, last 4 days (all we have)−0.035%−$4 · spread now +0.042%, 7d avg −0.001%
=Together, before fees+0.297%+ Points / potential airdropHibachi: Active · farm board+$30 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 0.044% dearer against Coinbase International than usual: you sell high and buy low: +$4 more if the spread goes back to its 7-day average of −0.001%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Coinbase International BTC-PERP-INTX | 86,065.4 | 0.0128 | pay 0.0016% / 1h | 10m 39s | $113.1M | $4.96B | 50x |
| Short | Hibachi BTC/USDT-P | 86,101.9 | 0.0280 | get 0.0035% / 1h | 10m 39s | $690K | $6.8M | 30x |
Coinbase International BTC-PERP-INTX
Hibachi BTC/USDT-PFunding history
latest
Range statsloading…
Price spread between the two exchanges
Hibachi against Coinbase International. 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
- $31.92
- Price spread: +0.042% → −0.001%
- $4.38
- Slippage, 4 orders
- −$0.09
- Fee Coinbase International: 5 bp × 2 orders
- −$10
- Fee Hibachi: 4.5 bp × 2 orders
- −$9
- Net
- $17.21
- Costs to cover
- 0.191%
- Break-even
- 3.2 days
Slippage from Coinbase International: 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 Coinbase International live order book, 2 min ago | 0.01 bp | 5.0 bp −$5 | 5.0 bp −$50 | 5.4 bp −$540 | 9.8 bp −$4,897 |
| Sell Hibachi live order book, 2 min ago | 0.01 bp | 4.5 bp −$5 | 4.5 bp −$45 | 39.2 bp −$3,917 | doesn't fit |
BTC on 56 exchanges
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 | |
|---|---|---|---|---|---|---|---|---|
| Perpl BTC | −0.0223% | 43m | 86,014.7 | −0.059% | $466K | $13.2M | 6.7x | as long as short |
| Phoenix BTC | −0.0150% | 1h | 86,038 | −0.032% | $2.1M | $7.7M | 40x | as long as short |
| Hotstuff BTC-PERP | −0.0080% | 1h | 85,878 | −0.218% | $8K | $2K | 50x | as long as short |
| BloFin BTC-USDT | −0.0058% | 8h | 86,016.5 | −0.057% | $421.0M | $552.3M | 150x | as long as short |
| SoDEX BTC-USD | −0.0033% | 1h | 86,026 | −0.046% | $65.9M | $186.4M | 40x | as long as short |
| 01 Exchange BTCUSD | −0.0032% | 1h | 86,024.5 | −0.048% | $363K | $1.8M | 50x | as long as short |
| dYdX BTC-USD | 0.0000% | 1h | 86,034.5 | −0.036% | $16.9M | $13.2M | 50x | as long as short |
| Injective BTC/USDC PERP | +0.0001% | 1h | 86,020 | −0.053% | $440K | $32.4M | 52x | as long as short |
| Aster BTCUSDT | +0.0003% | 8h | 86,009.9 | −0.064% | $510.3M | $814.8M | 200x | as long as short |
| gTrade (Gains Network) BTC/USD | L +0.0004% / S −0.0004% | 1h | 86,027.5 | −0.044% | $37.0M | — | 200x | as long as short |
Perpl BTC
Phoenix BTC
Hotstuff BTC-PERP
BloFin BTC-USDT
SoDEX BTC-USD
01 Exchange BTCUSD
dYdX BTC-USD
Injective BTC/USDC PERP
Aster BTCUSDT
gTrade (Gains Network) BTC/USDShow all 56 exchanges
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Kraken Futures PF_XBTUSD | +0.0019% | 1h | 86,050.3 | −0.018% | $193.7M | $723.5M | 100x | as long as short |
| Popdex BTCUSDT | +0.0032% | 1h | 86,002 | −0.074% | $8.6M | $46.1M | 100x | as long as short |
| Phemex BTCUSDT | +0.0037% | 8h | 86,021.4 | −0.051% | $173.2M | $469.3M | 150x | as long as short |
| KuCoin XBTUSDTM | +0.0050% | 8h | 86,024.1 | −0.048% | $952.1M | $625.9M | 125x | as long as short |
| Binance BTCUSDT | +0.0061% | 8h | 86,011.1 | −0.063% | $9.41B | $19.84B | 150x | as long as short |
| Bybit BTCUSDT | +0.0061% | 8h | 86,015.4 | −0.058% | $5.16B | $7.93B | 150x | as long as short |
| MEXC BTC_USDT | +0.0061% | 8h | 86,011.1 | −0.063% | $5.19B | $4.77B | 500x | as long as short |
| Aevo BTC-PERP | +0.0064% | 1h | 86,015.1 | −0.058% | $2.4M | $6.8M | 20x | as long as short |
| Gate BTC_USDT | +0.0073% | 8h | 86,016.3 | −0.057% | $5.52B | $8.85B | 200x | as long as short |
| Bitget BTCUSDT | +0.0076% | 8h | 86,006.6 | −0.068% | $3.00B | $3.80B | 150x | as long as short |
| HTX BTC-USDT | +0.0080% | 8h | 86,007.9 | −0.067% | $2.27B | $737.7M | 200x | as long as short |
| Bullet BTC-USD | +0.0081% | 1h | 86,016.3 | −0.057% | $222K | $3.2M | 20x | as long as short |
| Nado BTC-PERP | +0.0090% | 1h | 86,005.1 | −0.070% | $23.0M | $188.9M | 50x | as long as short |
| Variational Omni BTC | +0.0092% | 8h | 85,989.7 | −0.088% | $157.6M | $474.7M | — | as long as short |
| Lighter BTC | +0.0096% | 1h | 86,031.6 | −0.039% | $174.2M | $855.0M | 50x | as long as short |
| Lighter RH BTC | +0.0096% | 1h | 86,030 | −0.041% | $23.8M | $118.8M | 50x | as long as short |
| Katana Perps BTC-USD | +0.0100% | 8h | 85,981 | −0.098% | $219K | $8.1M | 50x | as long as short |
| Paradex BTC-USD-PERP | +0.0100% | 8h | 86,058.1 | −0.008% | $5.7M | $7.0M | 50x | as long as short |
| Pacifica BTC | +0.0100% | 1h | 86,059.1 | −0.007% | $40.0M | $566.0M | 50x | as long as short |
| OKX BTC-USDT-SWAP | +0.0100% | 8h | 86,005.4 | −0.070% | $2.64B | $9.01B | 100x | as long as short |
| Ondo Perps BTC-USD.P | +0.0100% | 1h | 86,024 | −0.048% | $4.0M | $14.7M | 25x | as long as short |
| Arcus BTC-USD | +0.0100% | 1h | 86,017.4 | −0.056% | $4.7M | $90.6M | 40x | as long as short |
| BingX BTC-USDC | +0.0100% | 8h | 85,986.7 | −0.091% | — | $16.1M | — | as long as short |
| Backpack BTC_USDC_PERP | +0.0100% | 1h | 86,013.5 | −0.060% | $39.3M | $200.5M | 75x | as long as short |
| edgeX BTCUSDC | +0.0100% | 4h | 86,036.2 | −0.034% | $289.8M | $715.7M | 100x | as long as short |
| GRVT BTC_USDT_Perp | +0.0100% | 8h | 86,055.6 | −0.011% | $216.2M | $133.6M | 50x | as long as short |
| ApeX Omni BTCUSDT | +0.0100% | 1h | 86,092.3 | +0.031% | $138.0M | $284.5M | 100x | as long as short |
| StandX BTC-USD | +0.0100% | 1h | 86,070 | +0.005% | $30.2M | $227.7M | 40x | as long as short |
| Vest BTC-PERP | +0.0100% | 1h | 86,105.2 | +0.046% | — | $10.9M | 50x | as long as short |
| Polymarket Perps BTC-USD | +0.0100% | 1h | 86,004 | −0.071% | $11.0M | $11.8M | 50x | as long as short |
| Orderly PERP_BTC_USDC | +0.0100% | 8h | 86,003.7 | −0.072% | $2.6M | $8.7M | 100x | as long as short |
| Bluefin BTC-PERP | +0.0100% | 1h | 86,041.3 | −0.028% | $143K | $608K | 40x | as long as short |
| Derive BTC-PERP | +0.0100% | 1h | 86,085 | +0.023% | $29.1M | $44.2M | 15x | as long as short |
| SunX BTC-USDT | +0.0100% | 8h | 86,015.2 | −0.058% | $3.3M | $6.8M | 100x | as long as short |
| Bulk BTC-USD | +0.0100% | 1h | 86,063.9 | −0.002% | $717.2M | $65.2M | 40x | as long as short |
| Extended BTC-USD | +0.0104% | 1h | 85,972.6 | −0.108% | $47.4M | $181.3M | 50x | as long as short |
| Jupiter Perps WBTC-PERP | L +0.0104% / S +0.0056% | 1h | 86,017.1 | −0.056% | — | $76.7M | 500x | as long as short |
| Coinbase International BTC-PERP-INTXlong | +0.0128% | 1h | 86,065.4 | long leg | $113.1M | $4.96B | 50x | |
| Hyperliquid BTC | +0.0155% | 1h | 86,113 | +0.055% | $3.98B | $4.16B | 40x | as long as short |
| Kalshi KXBTCPERP | +0.0158% | 8h | 86,038 | −0.032% | $13.2M | $731.6M | 6.4x | as long as short |
| RISEx BTC/USDC | +0.0165% | 1h | 86,034.9 | −0.035% | $9.0M | $35.3M | 25x | as long as short |
| Reya BTCRUSDPERP | +0.0178% | 1h | 85,988.5 | −0.089% | $6.6M | $121.4M | 40x | as long as short |
| Deribit BTC-PERPETUAL | +0.0179% | 1h | 86,082.1 | +0.019% | $818.6M | $1.47B | 50x | as long as short |
| GMX BTC/USD [WBTC.b-USDC] | L +0.0211% / S −0.0245% | 1h | 86,024.1 | −0.048% | $15.8M | — | 200x | as long as short |
| Aftermath Perps BTCUSD | +0.0262% | 1h | 86,053.6 | −0.014% | $79K | $219K | 20x | as long as short |
| Hibachi BTC/USDT-Pshort | +0.0280% | 1h | 86,101.9 | +0.042% | $690K | $6.8M | 30x |
Kraken Futures PF_XBTUSD
Popdex BTCUSDT
Phemex BTCUSDT
KuCoin XBTUSDTM
Binance BTCUSDT
Bybit BTCUSDT
MEXC BTC_USDT
Aevo BTC-PERP
Gate BTC_USDT
Bitget BTCUSDT
HTX BTC-USDT
Bullet BTC-USD
Nado BTC-PERP
Variational Omni BTC
Lighter BTC
Lighter RH BTC
Katana Perps BTC-USD
Paradex BTC-USD-PERP
Pacifica BTC
OKX BTC-USDT-SWAP
Ondo Perps BTC-USD.P
Arcus BTC-USD
BingX BTC-USDC
Backpack BTC_USDC_PERP
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
Derive BTC-PERP
SunX BTC-USDT
Bulk BTC-USD
Extended BTC-USD
Jupiter Perps WBTC-PERP
Hyperliquid BTC
Kalshi KXBTCPERP
RISEx BTC/USDC
Reya BTCRUSDPERP
Deribit BTC-PERPETUAL
GMX BTC/USD [WBTC.b-USDC]
Aftermath Perps BTCUSD