Funding you earn now, next payment 04:00 UTC+0.0241%/8h= +26.4% APRnext payment +$0.30 per $10,000 · paid last 24h +0.055%
Price spread now: Hibachi against gTrade (Gains Network)+0.114%7-day average +0.023% · 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−$12as in the Price arb table
costs, in and out, $10k−$210.207% of the position
Funding, last 3 days (all we have)+0.048%+$5 on $10k
+Price spread, last 7 days−0.115%−$12 · spread now +0.114%, 7d avg +0.023%
=Together, before fees−0.067%+ Points / potential airdropHibachi: Active · farm board−$7 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$7 a day on $10k at the current rate, and Hibachi is 0.091% dearer against gTrade (Gains Network) than usual: you sell high and buy low: +$9 more if the spread goes back to its 7-day average of +0.023%.
The current funding rate is far above what this pair has been paying: over the last 3 days it paid 0.048% in total (about 5.3% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.30 per $10,000. 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 | gTrade (Gains Network) ETH/USD | 2,729.6 | L +0.0007% / S −0.0007% | pay 0.0001% / 1h | 43m 09s | $26.2M | — | 200x |
| Short | Hibachi ETH/USDT-P | 2,732.7 | 0.0248 | get 0.0031% / 1h | 43m 09s | $254K | $1.4M | 20x |
gTrade (Gains Network) ETH/USD
Hibachi ETH/USDT-PFunding history
latest
Range statsloading…
Price spread between the two exchanges
Hibachi against gTrade (Gains Network). 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
- $50.66
- Price spread: +0.114% → +0.023%
- $9.1
- Slippage, 4 orders
- −$4.65
- Fee gTrade (Gains Network): 3.5 bp × 2 orders
- −$7
- Fee Hibachi: 4.5 bp × 2 orders
- −$9
- Net
- $39.11
- Costs to cover
- 0.207%
- Break-even
- 1.6 days
Slippage from gTrade (Gains Network): virtual book (oracle venue), 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 gTrade (Gains Network) virtual book (oracle venue), 1 min ago | 0.51 bp | 4.0 bp −$4 | 4.1 bp −$41 | 5.0 bp −$501 | 8.9 bp −$4,450 |
| Sell Hibachi live order book, 1 min ago | 0.02 bp | 7.4 bp −$7 | 17.3 bp −$173 | doesn't fit | doesn't fit |
ETH on 55 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 ETH | −0.0447% | 43m | 2,730 | +0.015% | $298K | $5.6M | 8.3x | as long as short |
| Injective ETH/USDC PERP | −0.0141% | 1h | 2,732.2 | +0.094% | $117K | $22.5M | 52x | as long as short |
| Hotstuff ETH-PERP | −0.0080% | 1h | 2,731.7 | +0.075% | $5K | $1K | 50x | as long as short |
| GMX ETH/USD [ETH-USDC] | L −0.0010% / S +0.0043% | 1h | 2,729.6 | 0.000% | $11.9M | — | 200x | as long as short |
| ApeX Omni ETHUSDT | −0.0005% | 1h | 2,729.9 | +0.008% | $8.9M | $31.3M | 100x | as long as short |
| dYdX ETH-USD | 0.0000% | 1h | 2,732.3 | +0.098% | $10.7M | $41.7M | 50x | as long as short |
| 01 Exchange ETHUSD | 0.0000% | 1h | 2,731.2 | +0.057% | $188K | $841K | 50x | as long as short |
| Phoenix ETH | 0.0000% | 1h | 2,728.1 | −0.056% | $830K | $2.9M | 25x | as long as short |
| gTrade (Gains Network) ETH/USDlong | L +0.0007% / S −0.0007% | 1h | 2,729.6 | long leg | $26.2M | — | 200x | |
| Bullet ETH-USD | +0.0009% | 1h | 2,728.8 | −0.031% | $181K | $1.7M | 20x | as long as short |
Perpl ETH
Injective ETH/USDC PERP
Hotstuff ETH-PERP
GMX ETH/USD [ETH-USDC]
ApeX Omni ETHUSDT
dYdX ETH-USD
01 Exchange ETHUSD
Phoenix ETH
Bullet ETH-USDShow all 55 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| SoDEX ETH-USD | +0.0050% | 1h | 2,727.6 | −0.075% | $54.3M | $187.6M | 40x | as long as short |
| Deribit ETH-PERPETUAL | +0.0054% | 1h | 2,729 | −0.023% | $260.1M | $196.8M | 50x | as long as short |
| BingX ETH-USDC | +0.0057% | 8h | 2,727.5 | −0.078% | — | $18.4M | — | as long as short |
| KuCoin ETHUSDTM | +0.0071% | 8h | 2,727.4 | −0.083% | $380.0M | $575.6M | 100x | as long as short |
| OKX ETH-USDT-SWAP | +0.0073% | 8h | 2,728 | −0.060% | $1.66B | $10.69B | 100x | as long as short |
| Aster ETHUSDT | +0.0080% | 8h | 2,730 | +0.014% | $252.1M | $844.2M | 200x | as long as short |
| HTX ETH-USDT | +0.0085% | 8h | 2,726.8 | −0.106% | $1.05B | $1.19B | 200x | as long as short |
| Aevo ETH-PERP | +0.0088% | 1h | 2,726.2 | −0.126% | $4.9M | $155K | 20x | as long as short |
| MEXC ETH_USDT | +0.0089% | 8h | 2,727.5 | −0.078% | $1.52B | $2.55B | 500x | as long as short |
| Binance ETHUSDT | +0.0090% | 8h | 2,727.8 | −0.066% | $6.34B | $15.86B | 150x | as long as short |
| Bybit ETHUSDT | +0.0094% | 8h | 2,727.1 | −0.092% | $2.39B | $4.34B | 150x | as long as short |
| Lighter ETH | +0.0096% | 1h | 2,727.8 | −0.066% | $111.9M | $435.1M | 50x | as long as short |
| Lighter RH ETH | +0.0096% | 1h | 2,729 | −0.025% | $23.2M | $105.7M | 50x | as long as short |
| Jupiter Perps ETH-PERP | L +0.0096% / S +0.0056% | 1h | 2,732.8 | +0.115% | — | $30.6M | 500x | as long as short |
| Paradex ETH-USD-PERP | +0.0099% | 8h | 2,735.9 | +0.228% | $15.6M | $8.0M | 50x | as long as short |
| RISEx ETH/USDC | +0.0099% | 1h | 2,731.6 | +0.071% | $5.6M | $11.5M | 25x | as long as short |
| Katana Perps ETH-USD | +0.0100% | 8h | 2,731 | +0.050% | $498K | $3.2M | 50x | as long as short |
| Nado ETH-PERP | +0.0100% | 1h | 2,732.1 | +0.090% | $13.8M | $104.8M | 50x | as long as short |
| Hyperliquid ETH | +0.0100% | 1h | 2,729.7 | +0.002% | $3.10B | $2.06B | 25x | as long as short |
| Pacifica ETH | +0.0100% | 1h | 2,733.2 | +0.130% | $31.6M | $333.8M | 50x | as long as short |
| Ondo Perps ETH-USD.P | +0.0100% | 1h | 2,731 | +0.050% | $2.7M | $17.0M | 25x | as long as short |
| Arcus ETH-USD | +0.0100% | 1h | 2,732 | +0.087% | $2.8M | $16.2M | 25x | as long as short |
| Gate ETH_USDT | +0.0100% | 8h | 2,728 | −0.062% | $3.34B | $8.81B | 200x | as long as short |
| Bitget ETHUSDT | +0.0100% | 8h | 2,727.9 | −0.065% | $2.07B | $2.75B | 150x | as long as short |
| Backpack ETH_USDC_PERP | +0.0100% | 1h | 2,727 | −0.096% | $14.9M | $39.7M | 50x | as long as short |
| Variational Omni ETH | +0.0100% | 8h | 2,728.4 | −0.046% | $133.1M | $325.5M | — | as long as short |
| edgeX ETHUSDC | +0.0100% | 4h | 2,726.2 | −0.125% | $182.6M | $671.4M | 100x | as long as short |
| GRVT ETH_USDT_Perp | +0.0100% | 8h | 2,730.7 | +0.037% | $158.9M | $86.4M | 50x | as long as short |
| StandX ETH-USD | +0.0100% | 1h | 2,731 | +0.050% | $21.1M | $69.5M | 40x | as long as short |
| Vest ETH-PERP | +0.0100% | 1h | 2,731.2 | +0.058% | — | $843K | 50x | as long as short |
| Polymarket Perps ETH-USD | +0.0100% | 1h | 2,731.5 | +0.068% | $11.1M | $9.1M | 50x | as long as short |
| Derive ETH-PERP | +0.0100% | 1h | 2,729.4 | −0.009% | $41.2M | $29.7M | 15x | as long as short |
| SunX ETH-USDT | +0.0100% | 8h | 2,728 | −0.059% | $957K | $11.4M | 100x | as long as short |
| Phemex ETHUSDT | +0.0100% | 8h | 2,728 | −0.060% | $265.2M | $65.5M | 150x | as long as short |
| Bulk ETH-USD | +0.0100% | 1h | 2,730.9 | +0.046% | $166.8M | $318.0M | 25x | as long as short |
| Extended ETH-USD | +0.0104% | 1h | 2,726.6 | −0.111% | $30.4M | $72.6M | 50x | as long as short |
| Coinbase International ETH-PERP-INTX | +0.0112% | 1h | 2,729.3 | −0.014% | $51.8M | $4.26B | 50x | as long as short |
| Aftermath Perps ETHUSD | +0.0119% | 1h | 2,732.4 | +0.102% | $30K | $20K | 20x | as long as short |
| Kalshi KXETHPERP | +0.0152% | 8h | 2,730.9 | +0.046% | $6.3M | $677.0M | 4.9x | as long as short |
| Orderly PERP_ETH_USDC | +0.0193% | 8h | 2,729.8 | +0.005% | $32.1M | $11.6M | 100x | as long as short |
| Kraken Futures PF_ETHUSD | +0.0222% | 1h | 2,728.2 | −0.052% | $84.5M | $313.6M | 100x | as long as short |
| Reya ETHRUSDPERP | +0.0223% | 1h | 2,728.6 | −0.039% | $7.3M | $1.2M | 25x | as long as short |
| Hibachi ETH/USDT-Pshort | +0.0248% | 1h | 2,732.7 | +0.114% | $254K | $1.4M | 20x | |
| BloFin ETH-USDT | +0.0333% | 8h | 2,728.7 | −0.033% | $284.6M | $174.8M | 150x | as long as short |
| Bluefin ETH-PERP | +0.0464% | 1h | 2,728.5 | −0.044% | $21K | $20K | 25x | as long as short |
SoDEX ETH-USD
Deribit ETH-PERPETUAL
BingX ETH-USDC
KuCoin ETHUSDTM
OKX ETH-USDT-SWAP
Aster ETHUSDT
HTX ETH-USDT
Aevo ETH-PERP
MEXC ETH_USDT
Binance ETHUSDT
Bybit ETHUSDT
Lighter ETH
Lighter RH ETH
Jupiter Perps ETH-PERP
Paradex ETH-USD-PERP
RISEx ETH/USDC
Katana Perps ETH-USD
Nado ETH-PERP
Hyperliquid ETH
Pacifica ETH
Ondo Perps ETH-USD.P
Arcus ETH-USD
Gate ETH_USDT
Bitget ETHUSDT
Backpack ETH_USDC_PERP
Variational Omni ETH
edgeX ETHUSDC
GRVT ETH_USDT_Perp
StandX ETH-USD
Vest ETH-PERP
Polymarket Perps ETH-USD
Derive ETH-PERP
SunX ETH-USDT
Phemex ETHUSDT
Bulk ETH-USD
Extended ETH-USD
Coinbase International ETH-PERP-INTX
Aftermath Perps ETHUSD
Kalshi KXETHPERP
Orderly PERP_ETH_USDC
Kraken Futures PF_ETHUSD
Reya ETHRUSDPERP
BloFin ETH-USDT
Bluefin ETH-PERP