Funding you earn now, next payment 06:00 UTC−0.0132%/8h= −14.5% APRpaid last 24h −0.031%
Price spread now: Variational Omni against Hibachi−0.215%7-day average −0.046% · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 4 days (all we have)−0.125%−$12 on $10k
+Price spread, last 7 days+0.156%+$16 · spread now −0.215%, 7d avg −0.046%
=Together, before fees+0.031%+ Points / potential airdropHibachi: Active · Variational Omni: Active · farm board+$3 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$4 a day on $10k at the current rate, and Variational Omni is 0.169% cheaper against Hibachi than usual: you would sell low and buy high (−$17 if the spread goes back to its 7-day average of −0.046%). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Hibachi BTC/USDT-P | 85,402.8 | 0.0232 | pay 0.0029% / 1h | 16m 38s | $689K | $8.0M | 30x |
| Short | Variational Omni BTC | 85,218.8 | 0.0100 | get 0.0100% / 8h | 2h 16m | $154.2M | $561.4M | — |
Hibachi BTC/USDT-P
Variational Omni BTCFunding history
latest
Range statsloading…
Price spread between the two exchanges
Variational Omni 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
- −$27.72
- Price spread: −0.215% → −0.046%
- −$16.91
- Slippage, 4 orders
- no order book: not counted
- Fee Hibachi: 4.5 bp × 2 orders
- −$9
- Fee Variational Omni: 0 bp × 2 orders
- $0
- Net
- −$53.63
- Costs to cover
- 0.090%
- Break-even
- never at this rate
Slippage unknown: Hibachi: live order book, 3 min ago; Variational Omni: RFQ quote, 3 min ago. 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, 3 min ago | 0.01 bp | 4.7 bp −$5 | 4.9 bp −$49 | 41.6 bp −$4,156 | doesn't fit |
| Sell Variational Omni RFQ quote, 3 min ago | 0.50 bp | doesn't fit | 0.5 bp −$5 | 1.5 bp −$147 | 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 | |
|---|---|---|---|---|---|---|---|---|
| Perpl BTC | −0.0112% | 43m | 85,381.4 | −0.025% | $526K | $18.4M | 6.7x | as long as short |
| Phoenix BTC | −0.0111% | 1h | 85,308 | −0.111% | $2.1M | $10.4M | 40x | as long as short |
| Hotstuff BTC-PERP | −0.0080% | 1h | 85,379 | −0.028% | $8K | $3K | 50x | as long as short |
| KuCoin XBTUSDTM | −0.0053% | 8h | 85,367.5 | −0.041% | $923.0M | $765.0M | 125x | as long as short |
| BloFin BTC-USDT | −0.0031% | 8h | 85,377.4 | −0.030% | $419.8M | $681.8M | 150x | as long as short |
| Aster BTCUSDT | −0.0012% | 8h | 85,376.9 | −0.030% | $513.0M | $1.09B | 200x | as long as short |
| 01 Exchange BTCUSD | −0.0008% | 1h | 85,405.7 | +0.003% | $354K | $2.4M | 50x | as long as short |
| dYdX BTC-USD | +0.0001% | 1h | 85,386.9 | −0.019% | $16.7M | $21.4M | 50x | as long as short |
| gTrade (Gains Network) BTC/USD | L +0.0004% / S −0.0004% | 1h | 85,381.7 | −0.025% | $36.5M | — | 200x | as long as short |
| Injective BTC/USDC PERP | +0.0023% | 1h | 85,349 | −0.063% | $339K | $26.8M | 52x | as long as short |
Perpl BTC
Phoenix BTC
Hotstuff BTC-PERP
KuCoin XBTUSDTM
BloFin BTC-USDT
Aster BTCUSDT
01 Exchange BTCUSD
dYdX BTC-USD
gTrade (Gains Network) BTC/USD
Injective BTC/USDC PERPShow all 56 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Nado BTC-PERP | +0.0039% | 1h | 85,350.6 | −0.061% | $24.8M | $222.5M | 50x | as long as short |
| Kraken Futures PF_XBTUSD | +0.0056% | 1h | 85,389.1 | −0.016% | $187.5M | $954.6M | 100x | as long as short |
| BingX BTC-USDT | +0.0067% | 8h | 85,387.7 | −0.018% | — | $1.56B | — | as long as short |
| Phemex BTCUSDT | +0.0076% | 8h | 85,368.5 | −0.040% | $147.8M | $505.3M | 150x | as long as short |
| Bitget BTCUSDT | +0.0086% | 8h | 85,381.4 | −0.025% | $2.96B | $5.16B | 150x | as long as short |
| MEXC BTC_USDT | +0.0088% | 8h | 85,392.3 | −0.012% | $5.05B | $5.74B | 500x | as long as short |
| Aevo BTC-PERP | +0.0088% | 1h | 85,370.9 | −0.037% | $2.4M | $6.7M | 20x | as long as short |
| Binance BTCUSDT | +0.0090% | 8h | 85,392 | −0.013% | $9.45B | $24.86B | 150x | as long as short |
| Lighter BTC | +0.0096% | 1h | 85,382 | −0.024% | $171.1M | $1.03B | 50x | as long as short |
| Lighter RH BTC | +0.0096% | 1h | 85,383.2 | −0.023% | $23.7M | $148.8M | 50x | as long as short |
| Popdex BTCUSDT | +0.0096% | 1h | 85,378 | −0.029% | $8.3M | $55.8M | 100x | as long as short |
| Coinbase International BTC-PERP-INTX | +0.0096% | 1h | 85,409.8 | +0.008% | $117.2M | $5.42B | 50x | as long as short |
| Katana Perps BTC-USD | +0.0100% | 8h | 85,369 | −0.040% | $238K | $8.6M | 50x | as long as short |
| Paradex BTC-USD-PERP | +0.0100% | 8h | 85,426.9 | +0.028% | $5.8M | $9.6M | 50x | as long as short |
| Hyperliquid BTC | +0.0100% | 1h | 85,449 | +0.054% | $3.75B | $5.07B | 40x | as long as short |
| Pacifica BTC | +0.0100% | 1h | 85,405.5 | +0.003% | $40.0M | $597.7M | 50x | as long as short |
| Bybit BTCUSDT | +0.0100% | 8h | 85,379 | −0.028% | $5.15B | $9.95B | 150x | as long as short |
| OKX BTC-USDT-SWAP | +0.0100% | 8h | 85,390 | −0.015% | $2.58B | $12.21B | 100x | as long as short |
| Ondo Perps BTC-USD.P | +0.0100% | 1h | 85,387 | −0.019% | $3.8M | $17.5M | 25x | as long as short |
| Arcus BTC-USD | +0.0100% | 1h | 85,397.3 | −0.006% | $4.6M | $98.7M | 40x | as long as short |
| Bulk BTC-USD | +0.0100% | 1h | 85,163.7 | −0.280% | $678.5M | $565.0M | 40x | as long as short |
| Gate BTC_USDT | +0.0100% | 8h | 85,380.8 | −0.026% | $5.50B | $11.03B | 200x | as long as short |
| Backpack BTC_USDC_PERP | +0.0100% | 1h | 85,367.4 | −0.041% | $36.3M | $176.6M | 75x | as long as short |
| Variational Omni BTCshort | +0.0100% | 8h | 85,218.8 | −0.215% | $154.2M | $561.4M | — | |
| edgeX BTCUSDC | +0.0100% | 4h | 85,241.6 | −0.189% | $279.4M | $948.2M | 100x | as long as short |
| GRVT BTC_USDT_Perp | +0.0100% | 8h | 85,345.8 | −0.067% | $214.4M | $167.1M | 50x | as long as short |
| ApeX Omni BTCUSDT | +0.0100% | 1h | 85,331.7 | −0.083% | $139.5M | $314.9M | 100x | as long as short |
| StandX BTC-USD | +0.0100% | 1h | 85,360.6 | −0.049% | $30.1M | $207.7M | 40x | as long as short |
| Vest BTC-PERP | +0.0100% | 1h | 85,440.9 | +0.045% | — | $10.9M | 50x | as long as short |
| Polymarket Perps BTC-USD | +0.0100% | 1h | 85,372 | −0.036% | $11.0M | $14.4M | 50x | as long as short |
| Bullet BTC-USD | +0.0100% | 1h | 85,377.5 | −0.030% | $205K | $3.3M | 20x | as long as short |
| Orderly PERP_BTC_USDC | +0.0100% | 8h | 85,382.2 | −0.024% | $2.6M | $9.6M | 100x | as long as short |
| Bluefin BTC-PERP | +0.0100% | 1h | 85,420.8 | +0.021% | $228K | $760K | 40x | as long as short |
| Derive BTC-PERP | +0.0100% | 1h | 85,352.1 | −0.059% | $30.0M | $48.0M | 15x | as long as short |
| SunX BTC-USDT | +0.0100% | 8h | 85,334.9 | −0.080% | $2.9M | $6.1M | 100x | as long as short |
| SoDEX BTC-USD | +0.0100% | 1h | 85,377 | −0.030% | $59.8M | $336.2M | 40x | as long as short |
| HTX BTC-USDT | +0.0100% | 8h | 85,366.2 | −0.043% | $2.26B | $941.7M | 200x | as long as short |
| Extended BTC-USD | +0.0104% | 1h | 85,356.9 | −0.054% | $45.0M | $239.8M | 50x | as long as short |
| Jupiter Perps WBTC-PERP | L +0.0104% / S +0.0048% | 1h | 85,386.2 | −0.019% | — | $106.9M | 500x | as long as short |
| Reya BTCRUSDPERP | +0.0117% | 1h | 85,365.9 | −0.043% | $6.6M | $147.4M | 40x | as long as short |
| Deribit BTC-PERPETUAL | +0.0165% | 1h | 85,415 | +0.014% | $866.8M | $1.61B | 50x | as long as short |
| GMX BTC/USD [WBTC.b-USDC] | L +0.0176% / S −0.0151% | 1h | 85,372.4 | −0.036% | $13.0M | — | 200x | as long as short |
| Kalshi KXBTCPERP | +0.0190% | 8h | 85,387 | −0.019% | $11.4M | $743.4M | 6.4x | as long as short |
| Aftermath Perps BTCUSD | +0.0220% | 1h | 85,292 | −0.130% | $78K | $227K | 20x | as long as short |
| Hibachi BTC/USDT-Plong | +0.0232% | 1h | 85,402.8 | long leg | $689K | $8.0M | 30x | |
| RISEx BTC/USDC | +0.0257% | 1h | 85,413.9 | +0.013% | $8.7M | $43.3M | 25x | as long as short |
Nado BTC-PERP
Kraken Futures PF_XBTUSD
BingX BTC-USDT
Phemex BTCUSDT
Bitget BTCUSDT
MEXC BTC_USDT
Aevo BTC-PERP
Binance BTCUSDT
Lighter BTC
Lighter RH BTC
Popdex BTCUSDT
Coinbase International BTC-PERP-INTX
Katana Perps BTC-USD
Paradex BTC-USD-PERP
Hyperliquid BTC
Pacifica BTC
Bybit BTCUSDT
OKX BTC-USDT-SWAP
Ondo Perps BTC-USD.P
Arcus BTC-USD
Bulk BTC-USD
Gate BTC_USDT
Backpack BTC_USDC_PERP
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
Bluefin BTC-PERP
Derive BTC-PERP
SunX BTC-USDT
SoDEX BTC-USD
HTX BTC-USDT
Extended BTC-USD
Jupiter Perps WBTC-PERP
Reya BTCRUSDPERP
Deribit BTC-PERPETUAL
GMX BTC/USD [WBTC.b-USDC]
Kalshi KXBTCPERP
Aftermath Perps BTCUSD
RISEx BTC/USDC