BTC

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0252%/8h= −27.6% APRnext payment −$0.31 per $10,000 · paid last 24h −0.042%

Price spread now: SoDEX against Hibachi+0.085%7-day average −0.044% · 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−$7as in the Price arb table

costs, in and out, $10k−$200.197% of the position

Long on Hibachi Short on SoDEX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.153%−$15 on $10k

Price spread, last 4 days (all we have)−0.330%−$33 · spread now +0.085%, 7d avg −0.044%

Together, before fees−0.483%+ Points / potential airdropHibachi: Active · farm board−$48 on $10k · with fees, hour by hour

The price spread pays, funding is against you. SoDEX is 0.129% dearer against Hibachi than usual: you sell high and buy low (spread +0.085% now, against its 7-day average of −0.044%): +$13 on $10k if it goes back. Holding the pair costs −$8 a day in funding at the current rate, which eats that in about 41 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hibachi BTC/USDT-P	85,344.3	0.0352	pay 0.0044% / 1h	27m 11s	$687K	$7.6M	30x
Short	SoDEX BTC-USD	85,417	0.0100	get 0.0013% / 1h	27m 11s	$59.8M	$336.1M	40x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SoDEX 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 SoDEXbpOrdersPrice spread, now +0.085%Rate

Funding earned: −$52.92
Price spread: +0.085% → −0.044%: $12.93
Slippage, 4 orders: −$2.66
Fee Hibachi: 4.5 bp × 2 orders: −$9
Fee SoDEX: 4 bp × 2 orders: −$8
Net: −$59.65
Costs to cover: 0.197%
Break-even: never at this rate

Slippage from Hibachi: live order book, 2 min ago; SoDEX: 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 Hibachi live order book, 2 min ago	0.01 bp	4.5 bp −$5	4.8 bp −$48	42.5 bp −$4,253	doesn't fit
Sell SoDEX live order book, 2 min ago	0.06 bp	4.1 bp −$4	4.2 bp −$42	5.1 bp −$513	43.3 bp −$21.7K

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	−0.1041%	1h	85,454.6	+0.129%	$194K	$796K	40x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	85,380	+0.042%	$8K	$2K	50x	as long as short
BloFin BTC-USDT	−0.0020%	8h	85,417.2	+0.085%	$424.0M	$660.0M	150x	as long as short
Injective BTC/USDC PERP	−0.0006%	1h	85,430	+0.100%	$307K	$25.4M	52x	as long as short
01 Exchange BTCUSD	0.0000%	1h	85,419.4	+0.088%	$353K	$2.2M	50x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0004% / S −0.0004%	1h	85,332.1	−0.014%	$36.5M	—	200x	as long as short
KuCoin XBTUSDTM	+0.0019%	8h	85,417.5	+0.086%	$940.0M	$768.4M	125x	as long as short
Aster BTCUSDT	+0.0033%	8h	85,414.2	+0.082%	$502.9M	$1.08B	200x	as long as short
dYdX BTC-USD	+0.0058%	1h	85,382.8	+0.045%	$16.7M	$21.0M	50x	as long as short
Kraken Futures PF_XBTUSD	+0.0068%	1h	85,435	+0.106%	$186.0M	$927.3M	100x	as long as short

Show all 56 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phoenix BTC	+0.0075%	1h	85,395	+0.059%	$2.3M	$10.4M	40x	as long as short
BingX BTC-USDC	+0.0080%	8h	85,396.1	+0.061%	—	$17.4M	—	as long as short
Nado BTC-PERP	+0.0093%	1h	85,403	+0.069%	$24.0M	$215.4M	50x	as long as short
Lighter BTC	+0.0096%	1h	85,435.2	+0.106%	$171.4M	$947.9M	50x	as long as short
Lighter RH BTC	+0.0096%	1h	85,432.4	+0.103%	$23.5M	$134.9M	50x	as long as short
Popdex BTCUSDT	+0.0096%	1h	85,413	+0.080%	$8.7M	$57.1M	100x	as long as short
Aevo BTC-PERP	+0.0096%	1h	85,408	+0.075%	$2.4M	$6.7M	20x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	85,391	+0.055%	$265K	$8.7M	50x	as long as short
Paradex BTC-USD-PERP	+0.0100%	8h	85,449.7	+0.124%	$5.7M	$9.3M	50x	as long as short
Pacifica BTC	+0.0100%	1h	85,428.7	+0.099%	$40.2M	$602.4M	50x	as long as short
Binance BTCUSDT	+0.0100%	8h	85,416	+0.084%	$9.39B	$24.88B	150x	as long as short
Bybit BTCUSDT	+0.0100%	8h	85,410.6	+0.078%	$5.08B	$9.88B	150x	as long as short
OKX BTC-USDT-SWAP	+0.0100%	8h	85,414.8	+0.083%	$2.61B	$11.83B	100x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	85,400	+0.065%	$3.9M	$17.3M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	85,416.3	+0.084%	$5.0M	$97.3M	40x	as long as short
Bulk BTC-USD	+0.0100%	1h	85,303.3	−0.048%	$702.0M	$164.8M	40x	as long as short
Gate BTC_USDT	+0.0100%	8h	85,418.3	+0.087%	$5.49B	$9.94B	200x	as long as short
MEXC BTC_USDT	+0.0100%	8h	85,413	+0.080%	$5.05B	$5.76B	500x	as long as short
Bitget BTCUSDT	+0.0100%	8h	85,409.8	+0.077%	$2.98B	$5.02B	150x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	85,410.2	+0.077%	$37.5M	$193.1M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	85,397.1	+0.062%	$156.0M	$540.5M	—	as long as short
edgeX BTCUSDC	+0.0100%	4h	85,402.6	+0.068%	$285.5M	$965.6M	100x	as long as short
GRVT BTC_USDT_Perp	+0.0100%	8h	85,409.3	+0.076%	$214.4M	$155.4M	50x	as long as short
ApeX Omni BTCUSDT	+0.0100%	1h	85,416.3	+0.084%	$136.6M	$311.9M	100x	as long as short
StandX BTC-USD	+0.0100%	1h	85,340.2	−0.005%	$30.1M	$218.2M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	85,481.8	+0.161%	—	$10.0M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	85,260	−0.099%	$10.9M	$14.5M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	85,429.9	+0.100%	$210K	$3.3M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	85,416.3	+0.084%	$2.7M	$9.8M	100x	as long as short
Derive BTC-PERP	+0.0100%	1h	85,444.6	+0.118%	$28.8M	$52.4M	15x	as long as short
SunX BTC-USDT	+0.0100%	8h	85,435.7	+0.107%	$3.1M	$6.9M	100x	as long as short
SoDEX BTC-USDshort	+0.0100%	1h	85,417	+0.085%	$59.8M	$336.1M	40x
HTX BTC-USDT	+0.0100%	8h	85,412.6	+0.080%	$2.26B	$962.5M	200x	as long as short
Phemex BTCUSDT	+0.0100%	8h	85,434.8	+0.106%	$164.0M	$512.2M	150x	as long as short
Extended BTC-USD	+0.0104%	1h	85,382.5	+0.045%	$45.8M	$239.2M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0056%	1h	85,417.8	+0.086%	—	$106.3M	500x	as long as short
Coinbase International BTC-PERP-INTX	+0.0112%	1h	85,464	+0.140%	$111.8M	$5.38B	50x	as long as short
Reya BTCRUSDPERP	+0.0150%	1h	85,399.3	+0.064%	$6.6M	$136.9M	40x	as long as short
Hyperliquid BTC	+0.0152%	1h	85,500.9	+0.183%	$3.84B	$5.15B	40x	as long as short
Deribit BTC-PERPETUAL	+0.0169%	1h	85,471.4	+0.149%	$832.9M	$1.66B	50x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0174% / S −0.0149%	1h	85,436.1	+0.108%	$13.0M	—	200x	as long as short
Kalshi KXBTCPERP	+0.0192%	8h	85,422	+0.091%	$10.1M	$737.7M	6.4x	as long as short
RISEx BTC/USDC	+0.0194%	1h	85,329	−0.018%	$8.9M	$42.3M	25x	as long as short
Aftermath Perps BTCUSD	+0.0340%	1h	85,446.1	+0.119%	$81K	$260K	20x	as long as short
Hibachi BTC/USDT-Plong	+0.0352%	1h	85,344.3	long leg	$687K	$7.6M	30x
Perpl BTC	+0.0447%	43m	85,413.2	+0.081%	$455K	$17.9M	6.7x	as long as short