Funding you earn now, next payment 03:00 UTC−0.0064%/8h= −7.0% APRnext payment −$0.08 per $10,000 · paid last 24h −0.040%
Price spread now: RISEx against Hibachi+0.009%7-day average −0.030% · 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−$13as in the Price arb table
costs, in and out, $10k−$170.166% of the position
Funding, last 4 days (all we have)−0.125%−$13 on $10k
+Price spread, last 7 days−0.019%−$2 · spread now +0.009%, 7d avg −0.030%
=Together, before fees−0.144%+ Points / potential airdropHibachi: Active · farm board−$14 on $10k · with fees, hour by hour
The price spread pays, funding is against you. RISEx is 0.039% dearer against Hibachi than usual: you sell high and buy low (spread +0.009% now, against its 7-day average of −0.030%): +$4 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 2.0 days.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Hibachi BTC/USDT-P | 85,675.6 | 0.0184 | pay 0.0023% / 1h | 4m 26s | $702K | $7.8M | 30x |
| Short | RISEx BTC/USDC | 85,683.3 | 0.0120 | get 0.0015% / 1h | 4m 26s | $8.4M | $42.3M | 25x |
Hibachi BTC/USDT-P
RISEx BTC/USDCFunding history
latest
Range statsloading…
Price spread between the two exchanges
RISEx 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
- −$13.42
- Price spread: +0.009% → −0.030%
- $3.91
- Slippage, 4 orders
- −$1.61
- Fee Hibachi: 4.5 bp × 2 orders
- −$9
- Fee RISEx: 3 bp × 2 orders
- −$6
- Net
- −$26.12
- Costs to cover
- 0.166%
- Break-even
- never at this rate
Slippage from Hibachi: live order book, 5 min ago; RISEx: live order book, 5 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, 5 min ago | 0.01 bp | 4.5 bp −$5 | 4.5 bp −$45 | 39.1 bp −$3,910 | doesn't fit |
| Sell RISEx live order book, 5 min ago | 0.01 bp | 3.7 bp −$4 | 3.8 bp −$38 | 9.9 bp −$993 | 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 | |
|---|---|---|---|---|---|---|---|---|
| Bluefin BTC-PERP | −0.0461% | 1h | 85,671.5 | −0.005% | $194K | $725K | 40x | as long as short |
| Phoenix BTC | −0.0160% | 1h | 85,635 | −0.047% | $2.2M | $10.3M | 40x | as long as short |
| Hotstuff BTC-PERP | −0.0080% | 1h | 85,667 | −0.010% | $8K | $3K | 50x | as long as short |
| 01 Exchange BTCUSD | −0.0040% | 1h | 85,645.2 | −0.035% | $368K | $2.3M | 50x | as long as short |
| BloFin BTC-USDT | −0.0033% | 8h | 85,644.4 | −0.036% | $417.0M | $665.3M | 150x | as long as short |
| dYdX BTC-USD | 0.0000% | 1h | 85,668.5 | −0.008% | $16.7M | $21.2M | 50x | as long as short |
| KuCoin XBTUSDTM | +0.0002% | 8h | 85,632.8 | −0.050% | $919.6M | $751.5M | 125x | as long as short |
| gTrade (Gains Network) BTC/USD | L +0.0004% / S −0.0004% | 1h | 85,647.3 | −0.033% | $36.6M | — | 200x | as long as short |
| Aster BTCUSDT | +0.0016% | 8h | 85,641.3 | −0.040% | $516.0M | $1.10B | 200x | as long as short |
| Nado BTC-PERP | +0.0017% | 1h | 85,650.4 | −0.029% | $22.6M | $219.5M | 50x | as long as short |
Bluefin BTC-PERP
Phoenix BTC
Hotstuff BTC-PERP
01 Exchange BTCUSD
BloFin BTC-USDT
dYdX BTC-USD
KuCoin XBTUSDTM
gTrade (Gains Network) BTC/USD
Aster BTCUSDT
Nado BTC-PERPShow all 56 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| BingX BTC-USDT | +0.0058% | 8h | 85,655.6 | −0.023% | — | $1.53B | — | as long as short |
| Bitget BTCUSDT | +0.0072% | 8h | 85,650.3 | −0.029% | $2.96B | $5.01B | 150x | as long as short |
| Reya BTCRUSDPERP | +0.0074% | 1h | 85,644.6 | −0.036% | $6.7M | $146.5M | 40x | as long as short |
| Injective BTC/USDC PERP | +0.0079% | 1h | 85,807 | +0.153% | $341K | $26.9M | 52x | as long as short |
| Aevo BTC-PERP | +0.0080% | 1h | 85,624.6 | −0.059% | $2.5M | $1.7M | 20x | as long as short |
| MEXC BTC_USDT | +0.0087% | 8h | 85,653.1 | −0.026% | $5.06B | $5.66B | 500x | as long as short |
| Binance BTCUSDT | +0.0087% | 8h | 85,648.4 | −0.032% | $9.34B | $23.94B | 150x | as long as short |
| SoDEX BTC-USD | +0.0089% | 1h | 85,630 | −0.053% | $60.0M | $336.1M | 40x | as long as short |
| HTX BTC-USDT | +0.0089% | 8h | 85,634 | −0.049% | $2.27B | $936.8M | 200x | as long as short |
| Lighter BTC | +0.0096% | 1h | 85,679.4 | +0.004% | $174.1M | $1.01B | 50x | as long as short |
| Lighter RH BTC | +0.0096% | 1h | 85,672 | −0.004% | $23.9M | $149.7M | 50x | as long as short |
| Popdex BTCUSDT | +0.0096% | 1h | 85,649 | −0.031% | $8.4M | $52.4M | 100x | as long as short |
| Paradex BTC-USD-PERP | +0.0100% | 8h | 85,691.1 | +0.018% | $3.8M | $8.3M | 50x | as long as short |
| Katana Perps BTC-USD | +0.0100% | 8h | 85,629 | −0.054% | $198K | $7.8M | 50x | as long as short |
| Hyperliquid BTC | +0.0100% | 1h | 85,731.8 | +0.066% | $3.74B | $4.96B | 40x | as long as short |
| Pacifica BTC | +0.0100% | 1h | 85,697 | +0.025% | $40.1M | $576.5M | 50x | as long as short |
| Bybit BTCUSDT | +0.0100% | 8h | 85,652.6 | −0.027% | $5.33B | $9.57B | 150x | as long as short |
| OKX BTC-USDT-SWAP | +0.0100% | 8h | 85,650 | −0.030% | $2.57B | $12.09B | 100x | as long as short |
| Ondo Perps BTC-USD.P | +0.0100% | 1h | 85,655 | −0.024% | $4.0M | $18.0M | 25x | as long as short |
| Arcus BTC-USD | +0.0100% | 1h | 85,638.6 | −0.043% | $6.8M | $97.7M | 40x | as long as short |
| Gate BTC_USDT | +0.0100% | 8h | 85,659.6 | −0.019% | $5.54B | $10.59B | 200x | as long as short |
| Backpack BTC_USDC_PERP | +0.0100% | 1h | 85,634.6 | −0.048% | $35.9M | $174.5M | 75x | as long as short |
| Variational Omni BTC | +0.0100% | 8h | 85,642.7 | −0.038% | $156.8M | $560.7M | — | as long as short |
| edgeX BTCUSDC | +0.0100% | 4h | 85,676.9 | +0.002% | $279.7M | $918.4M | 100x | as long as short |
| GRVT BTC_USDT_Perp | +0.0100% | 8h | 85,772.7 | +0.113% | $215.4M | $165.7M | 50x | as long as short |
| ApeX Omni BTCUSDT | +0.0100% | 1h | 85,779.4 | +0.121% | $140.2M | $314.8M | 100x | as long as short |
| StandX BTC-USD | +0.0100% | 1h | 85,646 | −0.035% | $30.3M | $208.4M | 40x | as long as short |
| Vest BTC-PERP | +0.0100% | 1h | 85,698.4 | +0.027% | — | $11.8M | 50x | as long as short |
| Polymarket Perps BTC-USD | +0.0100% | 1h | 85,652 | −0.028% | $11.0M | $14.2M | 50x | as long as short |
| Bullet BTC-USD | +0.0100% | 1h | 85,658.3 | −0.020% | $191K | $3.3M | 20x | as long as short |
| Orderly PERP_BTC_USDC | +0.0100% | 8h | 85,634.3 | −0.048% | $2.4M | $8.8M | 100x | as long as short |
| Derive BTC-PERP | +0.0100% | 1h | 85,630.2 | −0.053% | $30.0M | $51.0M | 15x | as long as short |
| SunX BTC-USDT | +0.0100% | 8h | 85,614.4 | −0.071% | $2.9M | $6.1M | 100x | as long as short |
| Phemex BTCUSDT | +0.0100% | 8h | 85,656.4 | −0.022% | $149.4M | $480.9M | 150x | as long as short |
| Bulk BTC-USD | +0.0100% | 1h | 85,642.1 | −0.039% | $641.7M | $524.8M | 40x | as long as short |
| Extended BTC-USD | +0.0104% | 1h | 85,626.1 | −0.058% | $44.3M | $226.7M | 50x | as long as short |
| Jupiter Perps WBTC-PERP | L +0.0104% / S +0.0056% | 1h | 85,662.8 | −0.015% | — | $106.0M | 500x | as long as short |
| Deribit BTC-PERPETUAL | +0.0108% | 1h | 85,676.7 | +0.001% | $891.6M | $1.53B | 50x | as long as short |
| Coinbase International BTC-PERP-INTX | +0.0112% | 1h | 85,676.6 | +0.001% | $123.2M | $5.11B | 50x | as long as short |
| RISEx BTC/USDCshort | +0.0120% | 1h | 85,683.3 | +0.009% | $8.4M | $42.3M | 25x | |
| Kraken Futures PF_XBTUSD | +0.0138% | 1h | 85,660.1 | −0.018% | $189.1M | $953.4M | 100x | as long as short |
| Hibachi BTC/USDT-Plong | +0.0184% | 1h | 85,675.6 | long leg | $702K | $7.8M | 30x | |
| GMX BTC/USD [WBTC.b-USDC] | L +0.0202% / S −0.0177% | 1h | 85,644.4 | −0.036% | $13.5M | — | 200x | as long as short |
| Aftermath Perps BTCUSD | +0.0207% | 1h | 85,724.2 | +0.057% | $78K | $219K | 20x | as long as short |
| Kalshi KXBTCPERP | +0.0220% | 8h | 85,680 | +0.005% | $10.7M | $758.9M | 6.4x | as long as short |
| Perpl BTC | +0.0447% | 43m | 85,685.9 | +0.012% | $500K | $19.0M | 6.7x | as long as short |
BingX BTC-USDT
Bitget BTCUSDT
Reya BTCRUSDPERP
Injective BTC/USDC PERP
Aevo BTC-PERP
MEXC BTC_USDT
Binance BTCUSDT
SoDEX BTC-USD
HTX BTC-USDT
Lighter BTC
Lighter RH BTC
Popdex BTCUSDT
Paradex BTC-USD-PERP
Katana Perps BTC-USD
Hyperliquid BTC
Pacifica BTC
Bybit BTCUSDT
OKX BTC-USDT-SWAP
Ondo Perps BTC-USD.P
Arcus 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
Phemex BTCUSDT
Bulk BTC-USD
Extended BTC-USD
Jupiter Perps WBTC-PERP
Deribit BTC-PERPETUAL
Coinbase International BTC-PERP-INTX
Kraken Futures PF_XBTUSD
GMX BTC/USD [WBTC.b-USDC]
Aftermath Perps BTCUSD
Kalshi KXBTCPERP
Perpl BTC