BTC

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC+0.0352%/8h= +38.6% APRnext payment +$0.44 per $10,000 · paid last 24h +0.044%

Price spread now: Hibachi against SoDEX+0.042%51s7-day average +0.046% · 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—prices read too far apart to compare

costs, in and out, $10k−$170.173% of the position

Long on SoDEX Short on Hibachi

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.155%+$16 on $10k

Price spread, last 4 days (all we have)+0.064%+$6 · spread now +0.042%, 7d avg +0.046%

Together, before fees+0.220%+ Points / potential airdropHibachi: Active · farm board+$22 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.046%, so right now this pair is about funding alone: +$11 a day on $10k at the current rate. The two prices were read 51 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SoDEX BTC-USD	86,097	0.0000	get 0.0000% / 1h	51m 29s	$65.9M	$187.9M	40x
Short	Hibachi BTC/USDT-P	86,133	0.0352	get 0.0044% / 1h	51m 29s	$726K	$7.0M	30x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hibachi against SoDEX. 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 SoDEXbpFee HibachibpOrdersPrice spread, now +0.042%Rate

Funding earned: $73.95
Price spread: +0.042% → +0.046%: −$0.37
Slippage, 4 orders: −$0.29
Fee SoDEX: 4 bp × 2 orders: −$8
Fee Hibachi: 4.5 bp × 2 orders: −$9
Net: $56.29
Costs to cover: 0.173%
Break-even: 1.7 days

Slippage from SoDEX: live order book, 1 min ago; Hibachi: live order book, 1 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 SoDEX live order book, 1 min ago	0.06 bp	4.1 bp −$4	4.1 bp −$41	5.1 bp −$507	43.8 bp −$21.9K
Sell Hibachi live order book, 1 min ago	0.01 bp	4.7 bp −$5	5.8 bp −$58	43.2 bp −$4,321	doesn't fit

BTC on 55 exchanges

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	−0.0133%	1h	86,126	+0.034%	$2.1M	$7.8M	40x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	86,197	+0.116%	$8K	$2K	50x	as long as short
ApeX Omni BTCUSDT	−0.0035%	1h	86,094.8	−0.003%	$137.6M	$295.3M	100x	as long as short
01 Exchange BTCUSD	−0.0024%	1h	86,088.7	−0.010%	$363K	$2.0M	50x	as long as short
BloFin BTC-USDT	−0.0020%	8h	86,091.8	−0.006%	$421.2M	$564.2M	150x	as long as short
SoDEX BTC-USDlong	0.0000%	1h	86,097	long leg	$65.9M	$187.9M	40x
dYdX BTC-USD	0.0000%	1h	86,107.7	+0.012%	$16.9M	$14.5M	50x	as long as short
Perpl BTC	0.0000%	43m	86,108.2	+0.013%	$481K	$13.8M	6.7x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0004% / S −0.0004%	1h	86,111.6	+0.017%	$36.8M	—	200x	as long as short
Injective BTC/USDC PERP	+0.0009%	1h	86,214	+0.136%	$301K	$26.1M	52x	as long as short

Show all 55 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster BTCUSDT	+0.0028%	8h	86,085.8	−0.013%	$513.2M	$875.0M	200x	as long as short
Kraken Futures PF_XBTUSD	+0.0029%	1h	86,113.5	+0.019%	$191.3M	$770.3M	100x	as long as short
BingX BTC-USDC	+0.0030%	8h	86,073.7	−0.027%	—	$16.3M	—	as long as short
Bybit BTCUSDT	+0.0036%	8h	86,098.7	+0.002%	$5.15B	$8.13B	150x	as long as short
KuCoin XBTUSDTM	+0.0054%	8h	86,066.4	−0.036%	$942.9M	$634.5M	125x	as long as short
Gate BTC_USDT	+0.0063%	8h	86,094.4	−0.003%	$5.52B	$8.88B	200x	as long as short
Popdex BTCUSDT	+0.0072%	1h	86,093	−0.005%	$8.8M	$45.3M	100x	as long as short
Phemex BTCUSDT	+0.0088%	8h	86,088.5	−0.010%	$170.6M	$479.1M	150x	as long as short
Bitget BTCUSDT	+0.0094%	8h	86,091.1	−0.007%	$2.99B	$3.97B	150x	as long as short
Lighter BTC	+0.0096%	1h	86,085.1	−0.014%	$173.8M	$852.9M	50x	as long as short
Lighter RH BTC	+0.0096%	1h	86,080.5	−0.019%	$23.4M	$119.0M	50x	as long as short
Aevo BTC-PERP	+0.0096%	1h	86,069.3	−0.032%	$2.4M	$6.7M	20x	as long as short
HTX BTC-USDT	+0.0097%	8h	86,076.7	−0.024%	$2.27B	$805.8M	200x	as long as short
MEXC BTC_USDT	+0.0099%	8h	86,079.9	−0.020%	$5.17B	$4.82B	500x	as long as short
Binance BTCUSDT	+0.0099%	8h	86,089	−0.009%	$9.46B	$20.56B	150x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	86,063	−0.039%	$219K	$8.1M	50x	as long as short
Paradex BTC-USD-PERP	+0.0100%	8h	86,119	+0.026%	$6.0M	$7.6M	50x	as long as short
Nado BTC-PERP	+0.0100%	1h	86,064.7	−0.038%	$23.5M	$195.9M	50x	as long as short
Pacifica BTC	+0.0100%	1h	86,107.2	+0.012%	$40.4M	$570.0M	50x	as long as short
OKX BTC-USDT-SWAP	+0.0100%	8h	86,099.7	+0.003%	$2.62B	$9.50B	100x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	86,076	−0.024%	$4.0M	$15.1M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	86,120.7	+0.028%	$4.2M	$90.6M	40x	as long as short
Bulk BTC-USD	+0.0100%	1h	86,169.3	+0.084%	$716.4M	$134.3M	40x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	86,092	−0.006%	$38.7M	$196.3M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	86,125.5	+0.033%	$158.0M	$474.6M	—	as long as short
edgeX BTCUSDC	+0.0100%	4h	86,081.5	−0.018%	$289.8M	$813.7M	100x	as long as short
GRVT BTC_USDT_Perp	+0.0100%	8h	86,097	0.000%	$216.3M	$133.7M	50x	as long as short
StandX BTC-USD	+0.0100%	1h	86,060.1	−0.043%	$30.3M	$223.1M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	86,142.5	+0.053%	—	$9.4M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	86,094	−0.003%	$11.0M	$12.0M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	86,093.8	−0.004%	$205K	$3.2M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	86,080.1	−0.020%	$2.7M	$8.9M	100x	as long as short
Bluefin BTC-PERP	+0.0100%	1h	86,127.2	+0.035%	$195K	$564K	40x	as long as short
SunX BTC-USDT	+0.0100%	8h	86,061.2	−0.042%	$3.2M	$6.6M	100x	as long as short
Extended BTC-USD	+0.0104%	1h	86,063.6	−0.039%	$47.0M	$203.0M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0056%	1h	86,101.5	+0.005%	—	$81.7M	500x	as long as short
Coinbase International BTC-PERP-INTX	+0.0120%	1h	86,143.8	+0.054%	$112.3M	$4.98B	50x	as long as short
Kalshi KXBTCPERP	+0.0159%	8h	86,102	+0.006%	$11.9M	$733.1M	6.4x	as long as short
Reya BTCRUSDPERP	+0.0163%	1h	86,062.8	−0.040%	$6.6M	$131.1M	40x	as long as short
Hyperliquid BTC	+0.0163%	1h	86,188.6	+0.106%	$3.97B	$4.36B	40x	as long as short
RISEx BTC/USDC	+0.0187%	1h	86,112.5	+0.018%	$8.9M	$37.1M	25x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0211% / S −0.0251%	1h	86,101.2	+0.005%	$15.6M	—	200x	as long as short
Deribit BTC-PERPETUAL	+0.0245%	1h	86,143.2	+0.054%	$822.7M	$1.50B	50x	as long as short
Hibachi BTC/USDT-Pshort	+0.0352%	1h	86,133	+0.042%	$726K	$7.0M	30x
Aftermath Perps BTCUSD	+0.0450%	1h	86,144.6	+0.055%	$79K	$245K	20x	as long as short