BTC

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0118%/8h= −13.0% APRnext payment −$0.15 per $10,000 · paid last 24h −0.069%

Price spread now: dYdX against Hibachi+0.011%7-day average −0.043% · you sell dearer than you buy

Net, funding: paid 7d − costs−$68as in the Funding arb table

Net, price: spread back to 7d avg − costs−$16as in the Price arb table

costs, in and out, $10k−$220.217% of the position

Long on Hibachi Short on dYdX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.463%−$46 on $10k

Price spread, last 7 days−0.038%−$4 · spread now +0.011%, 7d avg −0.043%

Together, before fees−0.501%+ Points / potential airdropHibachi: Active · farm board−$50 on $10k · with fees, hour by hour

The price spread pays, funding is against you. dYdX is 0.054% dearer against Hibachi than usual: you sell high and buy low (spread +0.011% now, against its 7-day average of −0.043%): +$5 on $10k if it goes back. Holding the pair costs −$4 a day in funding at the current rate, which eats that in about 36 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hibachi BTC/USDT-P	86,438.5	0.0184	pay 0.0023% / 1h	26m 17s	$727K	$8.0M	30x
Short	dYdX BTC-USD	86,448.3	0.0066	get 0.0008% / 1h	26m 17s	$16.9M	$21.2M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

dYdX against Hibachi. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

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

Profit calculator

Position, each leg$Hold fordaysFee HibachibpFee dYdXbpOrdersPrice spread, now +0.011%Rate

Funding earned: −$24.88
Price spread: +0.011% → −0.043%: $5.4
Slippage, 4 orders: −$2.74
Fee Hibachi: 4.5 bp × 2 orders: −$9
Fee dYdX: 5 bp × 2 orders: −$10
Net: −$41.22
Costs to cover: 0.217%
Break-even: never at this rate

Slippage from Hibachi: live order book, 3 min ago; dYdX: 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 Hibachi live order book, 3 min ago	0.01 bp	4.6 bp −$5	4.7 bp −$47	66.2 bp −$6,617	doesn't fit
Sell dYdX live order book, 3 min ago	0.12 bp	6.3 bp −$6	13.7 bp −$137	17.4 bp −$1,735	41.8 bp −$20.9K

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	−0.0118%	1h	86,477	+0.045%	$2.2M	$11.8M	40x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	86,413	−0.029%	$9K	$3K	50x	as long as short
Injective BTC/USDC PERP	−0.0035%	1h	86,568	+0.150%	$333K	$26.8M	52x	as long as short
RISEx BTC/USDC	−0.0024%	1h	86,420.6	−0.021%	$8.3M	$42.8M	25x	as long as short
01 Exchange BTCUSD	−0.0016%	1h	86,420.5	−0.021%	$359K	$2.5M	50x	as long as short
Aster BTCUSDT	−0.0001%	8h	86,403.4	−0.041%	$501.4M	$1.15B	200x	as long as short
Perpl BTC	0.0000%	43m	86,446.6	+0.009%	$415K	$23.1M	6.7x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0005% / S −0.0004%	1h	86,423.2	−0.018%	$36.8M	—	200x	as long as short
KuCoin XBTUSDTM	+0.0017%	8h	86,427.1	−0.013%	$849.9M	$715.7M	125x	as long as short
Deribit BTC-PERPETUAL	+0.0026%	1h	86,422.6	−0.018%	$914.5M	$1.48B	50x	as long as short

Show all 56 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Reya BTCRUSDPERP	+0.0031%	1h	86,401.1	−0.043%	$6.7M	$145.5M	40x	as long as short
BingX BTC-USDT	+0.0042%	8h	86,402	−0.042%	—	$1.59B	—	as long as short
Bitget BTCUSDT	+0.0052%	8h	86,380.1	−0.068%	$2.96B	$5.13B	150x	as long as short
Phemex BTCUSDT	+0.0053%	8h	86,396.4	−0.049%	$150.5M	$478.5M	150x	as long as short
dYdX BTC-USDshort	+0.0066%	1h	86,448.3	+0.011%	$16.9M	$21.2M	50x
Binance BTCUSDT	+0.0069%	8h	86,400.3	−0.044%	$9.42B	$24.58B	150x	as long as short
MEXC BTC_USDT	+0.0069%	8h	86,402.3	−0.042%	$5.15B	$5.67B	500x	as long as short
Aevo BTC-PERP	+0.0072%	1h	86,386.7	−0.060%	$2.4M	$1.3M	20x	as long as short
Gate BTC_USDT	+0.0082%	8h	86,402.5	−0.042%	$5.86B	$10.77B	200x	as long as short
SoDEX BTC-USD	+0.0087%	1h	86,382	−0.065%	$60.3M	$338.0M	40x	as long as short
Lighter BTC	+0.0096%	1h	86,432.1	−0.007%	$170.2M	$1.02B	50x	as long as short
Lighter RH BTC	+0.0096%	1h	86,403.1	−0.041%	$23.9M	$152.4M	50x	as long as short
Popdex BTCUSDT	+0.0096%	1h	86,410	−0.033%	$8.5M	$52.4M	100x	as long as short
Bybit BTCUSDT	+0.0098%	8h	86,396.7	−0.048%	$5.26B	$9.81B	150x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	86,393	−0.053%	$202K	$7.1M	50x	as long as short
Paradex BTC-USD-PERP	+0.0100%	8h	86,462	+0.027%	$4.8M	$8.5M	50x	as long as short
Nado BTC-PERP	+0.0100%	1h	86,430.8	−0.009%	$22.0M	$234.6M	50x	as long as short
Hyperliquid BTC	+0.0100%	1h	86,479	+0.047%	$3.79B	$5.11B	40x	as long as short
Pacifica BTC	+0.0100%	1h	86,457.8	+0.022%	$41.1M	$529.8M	50x	as long as short
OKX BTC-USDT-SWAP	+0.0100%	8h	86,400.1	−0.044%	$2.55B	$12.72B	100x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	86,437	−0.002%	$3.9M	$18.7M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	86,463.5	+0.029%	$7.5M	$95.3M	40x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	86,443.6	+0.006%	$38.2M	$155.7M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	86,405.8	−0.038%	$157.3M	$568.1M	—	as long as short
edgeX BTCUSDC	+0.0100%	4h	86,448.6	+0.012%	$279.2M	$945.2M	100x	as long as short
GRVT BTC_USDT_Perp	+0.0100%	8h	86,485.6	+0.054%	$217.2M	$171.6M	50x	as long as short
ApeX Omni BTCUSDT	+0.0100%	1h	86,461.9	+0.027%	$141.4M	$323.1M	100x	as long as short
StandX BTC-USD	+0.0100%	1h	86,390.9	−0.055%	$30.6M	$205.3M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	86,461.5	+0.027%	—	$11.9M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	86,408	−0.035%	$11.1M	$13.9M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	86,403.3	−0.041%	$189K	$3.3M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	86,390.1	−0.056%	$2.4M	$9.0M	100x	as long as short
Bluefin BTC-PERP	+0.0100%	1h	86,424	−0.017%	$140K	$664K	40x	as long as short
Derive BTC-PERP	+0.0100%	1h	86,420	−0.021%	$30.5M	$62.6M	15x	as long as short
SunX BTC-USDT	+0.0100%	8h	86,410.3	−0.033%	$3.4M	$5.4M	100x	as long as short
HTX BTC-USDT	+0.0100%	8h	86,375.1	−0.073%	$2.29B	$969.5M	200x	as long as short
Bulk BTC-USD	+0.0100%	1h	86,464.9	+0.031%	$572.1M	$16.9M	40x	as long as short
Extended BTC-USD	+0.0104%	1h	86,366.6	−0.083%	$45.5M	$227.4M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0048%	1h	86,458	+0.023%	—	$98.9M	500x	as long as short
Kraken Futures PF_XBTUSD	+0.0110%	1h	86,410.8	−0.032%	$192.1M	$954.6M	100x	as long as short
Coinbase International BTC-PERP-INTX	+0.0112%	1h	86,431.1	−0.009%	$132.3M	$5.65B	50x	as long as short
Aftermath Perps BTCUSD	+0.0149%	1h	86,487.8	+0.057%	$78K	$219K	20x	as long as short
Hibachi BTC/USDT-Plong	+0.0184%	1h	86,438.5	long leg	$727K	$8.0M	30x
BloFin BTC-USDT	+0.0189%	8h	86,446	+0.009%	$416.9M	$658.5M	150x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0196% / S −0.0219%	1h	86,416.3	−0.026%	$15.0M	—	200x	as long as short
Kalshi KXBTCPERP	+0.0207%	8h	86,452	+0.016%	$9.7M	$747.5M	6.4x	as long as short