Funding you earn now, next payment 23:29 UTC−0.0176%/8h= −19.3% APRpaid last 24h −0.079%
Price spread now: Perpl against Hibachi−0.087%7-day average −0.022% · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 7 days−0.015%−$1 on $10k
+Price spread, last 7 days+0.152%+$15 · spread now −0.087%, 7d avg −0.022%
=Together, before fees+0.138%+ Points / potential airdropHibachi: Active · Perpl: Active · farm board+$14 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$5 a day on $10k at the current rate, and Perpl is 0.065% cheaper against Hibachi than usual: you would sell low and buy high (−$7 if the spread goes back to its 7-day average of −0.022%). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Hibachi BTC/USDT-P | 86,624.7 | 0.0176 | pay 0.0022% / 1h | 57m 41s | $717K | $8.1M | 30x |
| Short | Perpl BTC | 86,549.3 | 0 | get 0.0000% / 43m | 36m 41s | $414K | $22.2M | 6.7x |
Hibachi BTC/USDT-P
Perpl BTCFunding history
latest
Range statsloading…
Price spread between the two exchanges
Perpl against Hibachi. 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
- −$36.96
- Price spread: −0.087% → −0.022%
- −$6.52
- Slippage, 4 orders
- no order book: not counted
- Fee Hibachi: 4.5 bp × 2 orders
- −$9
- Fee Perpl: 6.9 bp × 2 orders
- −$13.8
- Net
- −$66.28
- Costs to cover
- 0.228%
- Break-even
- never at this rate
Slippage unknown: Hibachi: live order book, 1 min ago; Perpl: no order-book sample. Net counts fees only.
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, 1 min ago | 0.01 bp | 4.9 bp −$5 | 5.3 bp −$53 | 46.0 bp −$4,603 | doesn't fit |
| Sell Perpl no order-book sample | — | — | — | — | — |
Perpl: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.
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 | |
|---|---|---|---|---|---|---|---|---|
| Bluefin BTC-PERP | −0.2924% | 1h | 86,564.5 | −0.069% | $140K | $664K | 40x | as long as short |
| Phoenix BTC | −0.0118% | 1h | 86,586 | −0.045% | $2.2M | $11.1M | 40x | as long as short |
| Hotstuff BTC-PERP | −0.0080% | 1h | 86,520 | −0.121% | $9K | $3K | 50x | as long as short |
| 01 Exchange BTCUSD | −0.0032% | 1h | 86,540.9 | −0.097% | $361K | $2.4M | 50x | as long as short |
| Perpl BTCshort | 0.0000% | 43m | 86,549.3 | −0.087% | $414K | $22.2M | 6.7x | |
| gTrade (Gains Network) BTC/USD | L +0.0005% / S −0.0004% | 1h | 86,558.2 | −0.077% | $37.0M | — | 200x | as long as short |
| dYdX BTC-USD | +0.0013% | 1h | 86,503 | −0.141% | $16.9M | $21.2M | 50x | as long as short |
| Aster BTCUSDT | +0.0015% | 8h | 86,510.9 | −0.131% | $501.8M | $1.15B | 200x | as long as short |
| Injective BTC/USDC PERP | +0.0023% | 1h | 86,616 | −0.010% | $333K | $26.9M | 52x | as long as short |
| KuCoin XBTUSDTM | +0.0028% | 8h | 86,515 | −0.127% | $834.9M | $728.6M | 125x | as long as short |
Bluefin BTC-PERP
Phoenix BTC
Hotstuff BTC-PERP
01 Exchange BTCUSD
gTrade (Gains Network) BTC/USD
dYdX BTC-USD
Aster BTCUSDT
Injective BTC/USDC PERP
KuCoin XBTUSDTMShow all 56 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Bybit BTCUSDT | +0.0039% | 8h | 86,485.1 | −0.161% | $5.26B | $9.78B | 150x | as long as short |
| Reya BTCRUSDPERP | +0.0039% | 1h | 86,524.6 | −0.116% | $6.7M | $145.7M | 40x | as long as short |
| BingX BTC-USDC | +0.0045% | 8h | 86,499.5 | −0.145% | — | $15.3M | — | as long as short |
| RISEx BTC/USDC | +0.0052% | 1h | 86,544.1 | −0.093% | $8.4M | $42.8M | 25x | as long as short |
| Bitget BTCUSDT | +0.0058% | 8h | 86,508.3 | −0.134% | $2.97B | $5.12B | 150x | as long as short |
| SoDEX BTC-USD | +0.0065% | 1h | 86,520 | −0.121% | $60.5M | $338.0M | 40x | as long as short |
| MEXC BTC_USDT | +0.0076% | 8h | 86,480.6 | −0.166% | $5.14B | $5.64B | 500x | as long as short |
| Binance BTCUSDT | +0.0077% | 8h | 86,480.9 | −0.166% | $9.44B | $24.55B | 150x | as long as short |
| Aevo BTC-PERP | +0.0080% | 1h | 86,544.1 | −0.093% | $2.5M | $1.2M | 20x | as long as short |
| Deribit BTC-PERPETUAL | +0.0092% | 1h | 86,559.2 | −0.076% | $909.6M | $1.50B | 50x | as long as short |
| Lighter BTC | +0.0096% | 1h | 86,499.8 | −0.144% | $170.3M | $979.6M | 50x | as long as short |
| Lighter RH BTC | +0.0096% | 1h | 86,520.1 | −0.121% | $23.7M | $148.5M | 50x | as long as short |
| Popdex BTCUSDT | +0.0096% | 1h | 86,524 | −0.116% | $8.5M | $52.2M | 100x | as long as short |
| Katana Perps BTC-USD | +0.0100% | 8h | 86,513 | −0.129% | $198K | $7.1M | 50x | as long as short |
| Paradex BTC-USD-PERP | +0.0100% | 8h | 86,515.6 | −0.126% | $4.8M | $8.5M | 50x | as long as short |
| Nado BTC-PERP | +0.0100% | 1h | 86,548.5 | −0.088% | $22.0M | $233.9M | 50x | as long as short |
| Hyperliquid BTC | +0.0100% | 1h | 86,592.5 | −0.037% | $3.80B | $5.10B | 40x | as long as short |
| Pacifica BTC | +0.0100% | 1h | 86,522.8 | −0.118% | $40.8M | $540.8M | 50x | as long as short |
| OKX BTC-USDT-SWAP | +0.0100% | 8h | 86,497.8 | −0.146% | $2.55B | $12.71B | 100x | as long as short |
| Ondo Perps BTC-USD.P | +0.0100% | 1h | 86,539 | −0.099% | $3.9M | $18.1M | 25x | as long as short |
| Arcus BTC-USD | +0.0100% | 1h | 86,568.3 | −0.065% | $7.3M | $96.8M | 40x | as long as short |
| Bulk BTC-USD | +0.0100% | 1h | 86,523.6 | −0.117% | $572.9M | $12.4M | 40x | as long as short |
| Gate BTC_USDT | +0.0100% | 8h | 86,520.1 | −0.121% | $5.87B | $10.42B | 200x | as long as short |
| Backpack BTC_USDC_PERP | +0.0100% | 1h | 86,527.3 | −0.112% | $37.8M | $156.3M | 75x | as long as short |
| Variational Omni BTC | +0.0100% | 8h | 86,554.4 | −0.081% | $157.4M | $568.6M | — | as long as short |
| edgeX BTCUSDC | +0.0100% | 4h | 86,550.1 | −0.086% | $279.6M | $948.7M | 100x | as long as short |
| GRVT BTC_USDT_Perp | +0.0100% | 8h | 86,585.4 | −0.045% | $217.4M | $171.3M | 50x | as long as short |
| ApeX Omni BTCUSDT | +0.0100% | 1h | 86,575 | −0.057% | $141.8M | $323.5M | 100x | as long as short |
| StandX BTC-USD | +0.0100% | 1h | 86,590 | −0.040% | $30.7M | $208.0M | 40x | as long as short |
| Vest BTC-PERP | +0.0100% | 1h | 86,583.9 | −0.047% | — | $11.9M | 50x | as long as short |
| Polymarket Perps BTC-USD | +0.0100% | 1h | 86,523 | −0.117% | $11.1M | $13.9M | 50x | as long as short |
| Bullet BTC-USD | +0.0100% | 1h | 86,536 | −0.102% | $194K | $3.3M | 20x | as long as short |
| Orderly PERP_BTC_USDC | +0.0100% | 8h | 86,518.3 | −0.123% | $2.5M | $9.3M | 100x | as long as short |
| Derive BTC-PERP | +0.0100% | 1h | 86,556.5 | −0.079% | $30.5M | $62.6M | 15x | as long as short |
| SunX BTC-USDT | +0.0100% | 8h | 86,529.9 | −0.109% | $3.4M | $5.3M | 100x | as long as short |
| HTX BTC-USDT | +0.0100% | 8h | 86,516.5 | −0.125% | $2.30B | $969.9M | 200x | as long as short |
| Phemex BTCUSDT | +0.0100% | 8h | 86,533.9 | −0.105% | $152.8M | $479.5M | 150x | as long as short |
| Extended BTC-USD | +0.0104% | 1h | 86,498.1 | −0.146% | $45.8M | $224.8M | 50x | as long as short |
| Jupiter Perps WBTC-PERP | L +0.0104% / S +0.0048% | 1h | 86,563.8 | −0.070% | — | $100.1M | 500x | as long as short |
| Coinbase International BTC-PERP-INTX | +0.0120% | 1h | 86,563 | −0.071% | $132.2M | $5.63B | 50x | as long as short |
| Kraken Futures PF_XBTUSD | +0.0121% | 1h | 86,550.3 | −0.086% | $193.4M | $951.1M | 100x | as long as short |
| Aftermath Perps BTCUSD | +0.0163% | 1h | 86,564.6 | −0.069% | $78K | $219K | 20x | as long as short |
| Hibachi BTC/USDT-Plong | +0.0176% | 1h | 86,624.7 | long leg | $717K | $8.1M | 30x | |
| BloFin BTC-USDT | +0.0197% | 8h | 86,561 | −0.074% | $415.4M | $659.9M | 150x | as long as short |
| GMX BTC/USD [WBTC.b-USDC] | L +0.0201% / S −0.0224% | 1h | 86,551.5 | −0.085% | $14.9M | — | 200x | as long as short |
| Kalshi KXBTCPERP | +0.0210% | 8h | 86,576 | −0.056% | $10.0M | $756.5M | 6.4x | as long as short |
Bybit BTCUSDT
Reya BTCRUSDPERP
BingX BTC-USDC
RISEx BTC/USDC
Bitget BTCUSDT
SoDEX BTC-USD
MEXC BTC_USDT
Binance BTCUSDT
Aevo BTC-PERP
Deribit BTC-PERPETUAL
Lighter BTC
Lighter RH BTC
Popdex BTCUSDT
Katana Perps BTC-USD
Paradex BTC-USD-PERP
Nado BTC-PERP
Hyperliquid BTC
Pacifica BTC
OKX BTC-USDT-SWAP
Ondo Perps BTC-USD.P
Arcus BTC-USD
Bulk BTC-USD
Gate 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
Derive BTC-PERP
SunX BTC-USDT
HTX BTC-USDT
Phemex BTCUSDT
Extended BTC-USD
Jupiter Perps WBTC-PERP
Coinbase International BTC-PERP-INTX
Kraken Futures PF_XBTUSD
Aftermath Perps BTCUSD
BloFin BTC-USDT
GMX BTC/USD [WBTC.b-USDC]
Kalshi KXBTCPERP