Funding you earn now, next payment 05:57 UTC+0.0248%/8h= +27.2% APRpaid last 24h +0.077%
Price spread now: Hibachi against Perpl+0.016%59s7-day average +0.025% · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 7 days+0.026%+$3 on $10k
+Price spread, last 7 days−0.041%−$4 · spread now +0.016%, 7d avg +0.025%
=Together, before fees−0.015%+ Points / potential airdropPerpl: Active · Hibachi: Active · farm board−$2 on $10k · with fees, hour by hour
The price spread sits at its 7-day average of +0.025%, so right now this pair is about funding alone: +$7 a day on $10k at the current rate. The two prices were read 59 seconds apart, so part of this spread may be the market moving, not a spread.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.026% in total (about 1.4% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Perpl BTC | 85,254.6 | 0 | get 0.0000% / 43m | 40m 05s | $495K | $18.5M | 6.7x |
| Short | Hibachi BTC/USDT-P | 85,268.6 | 0.0248 | get 0.0031% / 1h | 34m 05s | $684K | $7.9M | 30x |
Perpl BTC
Hibachi BTC/USDT-PFunding history
latest
Range statsloading…
Price spread between the two exchanges
Hibachi against Perpl. 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
- $52.08
- Price spread: +0.016% → +0.025%
- −$0.91
- Slippage, 4 orders
- no order book: not counted
- Fee Perpl: 6.9 bp × 2 orders
- −$13.8
- Fee Hibachi: 4.5 bp × 2 orders
- −$9
- Net
- $28.37
- Costs to cover
- 0.228%
- Break-even
- 3.2 days
Slippage unknown: Perpl: no order-book sample; Hibachi: live order book, 5 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 Perpl no order-book sample | — | — | — | — | — |
| Sell Hibachi live order book, 5 min ago | 0.01 bp | 4.5 bp −$5 | 5.0 bp −$50 | 42.5 bp −$4,252 | doesn't fit |
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 | |
|---|---|---|---|---|---|---|---|---|
| Phoenix BTC | −0.0082% | 1h | 85,242 | −0.015% | $2.1M | $10.4M | 40x | as long as short |
| Hotstuff BTC-PERP | −0.0080% | 1h | 85,248 | −0.008% | $8K | $3K | 50x | as long as short |
| KuCoin XBTUSDTM | −0.0045% | 8h | 85,226.6 | −0.033% | $927.3M | $773.4M | 125x | as long as short |
| BloFin BTC-USDT | −0.0028% | 8h | 85,224.2 | −0.036% | $421.0M | $681.5M | 150x | as long as short |
| Aster BTCUSDT | −0.0012% | 8h | 85,240.1 | −0.017% | $512.2M | $1.09B | 200x | as long as short |
| dYdX BTC-USD | 0.0000% | 1h | 85,233.1 | −0.025% | $16.7M | $21.4M | 50x | as long as short |
| 01 Exchange BTCUSD | 0.0000% | 1h | 85,245.3 | −0.011% | $352K | $2.4M | 50x | as long as short |
| Perpl BTClong | 0.0000% | 43m | 85,254.6 | long leg | $495K | $18.5M | 6.7x | |
| gTrade (Gains Network) BTC/USD | L +0.0004% / S −0.0004% | 1h | 85,246.4 | −0.010% | $36.5M | — | 200x | as long as short |
| Nado BTC-PERP | +0.0044% | 1h | 85,231.4 | −0.027% | $24.4M | $222.4M | 50x | as long as short |
Phoenix BTC
Hotstuff BTC-PERP
KuCoin XBTUSDTM
BloFin BTC-USDT
Aster BTCUSDT
dYdX BTC-USD
01 Exchange BTCUSD
gTrade (Gains Network) BTC/USD
Nado BTC-PERPShow all 56 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| ApeX Omni BTCUSDT | +0.0055% | 1h | 85,263.5 | +0.010% | $139.4M | $314.4M | 100x | as long as short |
| Injective BTC/USDC PERP | +0.0057% | 1h | 85,247 | −0.009% | $338K | $26.8M | 52x | as long as short |
| BingX BTC-USDT | +0.0070% | 8h | 85,254.2 | 0.000% | — | $1.56B | — | as long as short |
| Bitget BTCUSDT | +0.0088% | 8h | 85,240.8 | −0.016% | $2.96B | $5.18B | 150x | as long as short |
| Aevo BTC-PERP | +0.0088% | 1h | 85,226.8 | −0.033% | $2.4M | $6.7M | 20x | as long as short |
| Kraken Futures PF_XBTUSD | +0.0089% | 1h | 85,245.7 | −0.010% | $186.0M | $957.6M | 100x | as long as short |
| MEXC BTC_USDT | +0.0091% | 8h | 85,249.6 | −0.006% | $5.01B | $5.75B | 500x | as long as short |
| Binance BTCUSDT | +0.0091% | 8h | 85,249.6 | −0.006% | $9.42B | $24.95B | 150x | as long as short |
| Lighter BTC | +0.0096% | 1h | 85,262.2 | +0.009% | $169.9M | $1.02B | 50x | as long as short |
| Lighter RH BTC | +0.0096% | 1h | 85,262 | +0.009% | $23.5M | $148.0M | 50x | as long as short |
| Popdex BTCUSDT | +0.0096% | 1h | 85,232 | −0.027% | $8.4M | $56.3M | 100x | as long as short |
| Katana Perps BTC-USD | +0.0100% | 8h | 85,210 | −0.052% | $237K | $8.7M | 50x | as long as short |
| Paradex BTC-USD-PERP | +0.0100% | 8h | 85,295.3 | +0.048% | $5.8M | $9.6M | 50x | as long as short |
| Hyperliquid BTC | +0.0100% | 1h | 85,329.6 | +0.088% | $3.74B | $5.08B | 40x | as long as short |
| Pacifica BTC | +0.0100% | 1h | 85,265 | +0.012% | $40.2M | $604.4M | 50x | as long as short |
| Bybit BTCUSDT | +0.0100% | 8h | 85,246.1 | −0.010% | $5.14B | $9.99B | 150x | as long as short |
| OKX BTC-USDT-SWAP | +0.0100% | 8h | 85,242.8 | −0.014% | $2.59B | $12.24B | 100x | as long as short |
| Ondo Perps BTC-USD.P | +0.0100% | 1h | 85,226 | −0.034% | $3.8M | $17.1M | 25x | as long as short |
| Arcus BTC-USD | +0.0100% | 1h | 85,235.2 | −0.023% | $5.2M | $99.1M | 40x | as long as short |
| Bulk BTC-USD | +0.0100% | 1h | 85,278.8 | +0.028% | $682.9M | $449.0M | 40x | as long as short |
| Gate BTC_USDT | +0.0100% | 8h | 85,260.7 | +0.007% | $5.49B | $11.00B | 200x | as long as short |
| Backpack BTC_USDC_PERP | +0.0100% | 1h | 85,242.2 | −0.015% | $36.9M | $179.1M | 75x | as long as short |
| Variational Omni BTC | +0.0100% | 8h | 85,207.8 | −0.055% | $154.6M | $557.8M | — | as long as short |
| edgeX BTCUSDC | +0.0100% | 4h | 85,237.8 | −0.020% | $279.3M | $950.0M | 100x | as long as short |
| GRVT BTC_USDT_Perp | +0.0100% | 8h | 85,263.3 | +0.010% | $214.1M | $166.1M | 50x | as long as short |
| StandX BTC-USD | +0.0100% | 1h | 85,220.6 | −0.040% | $30.0M | $203.7M | 40x | as long as short |
| Vest BTC-PERP | +0.0100% | 1h | 85,295.2 | +0.048% | — | $10.9M | 50x | as long as short |
| Polymarket Perps BTC-USD | +0.0100% | 1h | 85,234 | −0.024% | $11.0M | $14.6M | 50x | as long as short |
| Bullet BTC-USD | +0.0100% | 1h | 85,238 | −0.019% | $202K | $3.3M | 20x | as long as short |
| Orderly PERP_BTC_USDC | +0.0100% | 8h | 85,236.2 | −0.022% | $2.6M | $9.8M | 100x | as long as short |
| Bluefin BTC-PERP | +0.0100% | 1h | 85,270.2 | +0.018% | $193K | $795K | 40x | as long as short |
| Derive BTC-PERP | +0.0100% | 1h | 85,214.5 | −0.047% | $29.9M | $47.0M | 15x | as long as short |
| SunX BTC-USDT | +0.0100% | 8h | 85,217.6 | −0.043% | $2.9M | $6.1M | 100x | as long as short |
| SoDEX BTC-USD | +0.0100% | 1h | 85,231 | −0.028% | $59.6M | $336.9M | 40x | as long as short |
| HTX BTC-USDT | +0.0100% | 8h | 85,230.2 | −0.029% | $2.25B | $968.5M | 200x | as long as short |
| Phemex BTCUSDT | +0.0100% | 8h | 85,245.9 | −0.010% | $151.1M | $509.3M | 150x | as long as short |
| Extended BTC-USD | +0.0104% | 1h | 85,211.3 | −0.051% | $44.8M | $240.7M | 50x | as long as short |
| Jupiter Perps WBTC-PERP | L +0.0104% / S +0.0048% | 1h | 85,245.5 | −0.011% | — | $107.0M | 500x | as long as short |
| Coinbase International BTC-PERP-INTX | +0.0104% | 1h | 85,275.4 | +0.024% | $116.8M | $5.45B | 50x | as long as short |
| Deribit BTC-PERPETUAL | +0.0107% | 1h | 85,276.1 | +0.025% | $862.3M | $1.64B | 50x | as long as short |
| Reya BTCRUSDPERP | +0.0127% | 1h | 85,222.7 | −0.037% | $6.6M | $147.6M | 40x | as long as short |
| GMX BTC/USD [WBTC.b-USDC] | L +0.0175% / S −0.0152% | 1h | 85,243.6 | −0.013% | $13.0M | — | 200x | as long as short |
| Kalshi KXBTCPERP | +0.0185% | 8h | 85,267 | +0.015% | $11.7M | $741.3M | 6.4x | as long as short |
| RISEx BTC/USDC | +0.0193% | 1h | 85,259.9 | +0.006% | $8.7M | $42.9M | 25x | as long as short |
| Hibachi BTC/USDT-Pshort | +0.0248% | 1h | 85,268.6 | +0.016% | $684K | $7.9M | 30x | |
| Aftermath Perps BTCUSD | +0.0268% | 1h | 85,279.2 | +0.029% | $79K | $229K | 20x | as long as short |
ApeX Omni BTCUSDT
Injective BTC/USDC PERP
BingX BTC-USDT
Bitget BTCUSDT
Aevo BTC-PERP
Kraken Futures PF_XBTUSD
MEXC BTC_USDT
Binance BTCUSDT
Lighter BTC
Lighter RH BTC
Popdex BTCUSDT
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
Variational Omni BTC
edgeX BTCUSDC
GRVT BTC_USDT_Perp
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
Phemex BTCUSDT
Extended BTC-USD
Jupiter Perps WBTC-PERP
Coinbase International BTC-PERP-INTX
Deribit BTC-PERPETUAL
Reya BTCRUSDPERP
GMX BTC/USD [WBTC.b-USDC]
Kalshi KXBTCPERP
RISEx BTC/USDC
Aftermath Perps BTCUSD