BTC

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC+0.0348%/8h= +38.1% APRnext payment +$0.43 per $10,000 · paid last 24h +0.059%

Price spread now: Hibachi against gTrade (Gains Network)+0.075%7-day average +0.047% · 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−$15as in the Price arb table

costs, in and out, $10k−$170.174% of the position

Long on gTrade (Gains Network)Short on Hibachi

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.232%+$23 on $10k

Price spread, last 7 days−0.028%−$3 · spread now +0.075%, 7d avg +0.047%

Together, before fees+0.204%+ Points / potential airdropHibachi: Active · farm board+$20 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$10 a day on $10k at the current rate, and Hibachi is 0.028% dearer against gTrade (Gains Network) than usual: you sell high and buy low: +$3 more if the spread goes back to its 7-day average of +0.047%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	gTrade (Gains Network) BTC/USD	86,015.4	L +0.0004% / S −0.0004%	pay 0.0001% / 1h	44m 53s	$36.8M	—	200x
Short	Hibachi BTC/USDT-P	86,080.2	0.0352	get 0.0044% / 1h	44m 53s	$725K	$7.0M	30x

Funding 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 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 gTrade (Gains Network)bpFee HibachibpOrdersPrice spread, now +0.075%Rate

Funding earned: $72.98
Price spread: +0.075% → +0.047%: $2.83
Slippage, 4 orders: −$1.37
Fee gTrade (Gains Network): 3.5 bp × 2 orders: −$7
Fee Hibachi: 4.5 bp × 2 orders: −$9
Net: $58.45
Costs to cover: 0.174%
Break-even: 1.4 days

Slippage from gTrade (Gains Network): virtual book (oracle exchange), 7 min ago; Hibachi: 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 gTrade (Gains Network) virtual book (oracle exchange), 7 min ago	0.51 bp	4.0 bp −$4	4.1 bp −$41	4.5 bp −$446	6.4 bp −$3,181
Sell Hibachi live order book, 2 min ago	0.01 bp	4.8 bp −$5	5.3 bp −$53	44.0 bp −$4,405	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	85,986	−0.034%	$2.1M	$7.8M	40x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	86,142	+0.147%	$8K	$2K	50x	as long as short
ApeX Omni BTCUSDT	−0.0043%	1h	86,037.1	+0.025%	$137.9M	$295.3M	100x	as long as short
01 Exchange BTCUSD	−0.0040%	1h	85,982	−0.039%	$364K	$2.0M	50x	as long as short
BloFin BTC-USDT	−0.0022%	8h	85,992.3	−0.027%	$422.1M	$562.8M	150x	as long as short
SoDEX BTC-USD	−0.0021%	1h	85,991	−0.028%	$65.9M	$187.9M	40x	as long as short
dYdX BTC-USD	0.0000%	1h	86,014.4	−0.001%	$16.9M	$14.5M	50x	as long as short
Perpl BTC	0.0000%	43m	85,988	−0.032%	$477K	$13.8M	6.7x	as long as short
gTrade (Gains Network) BTC/USDlong	L +0.0004% / S −0.0004%	1h	86,015.4	long leg	$36.8M	—	200x
Injective BTC/USDC PERP	+0.0009%	1h	85,982	−0.039%	$300K	$26.6M	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	+0.0027%	8h	85,994.7	−0.024%	$512.6M	$874.5M	200x	as long as short
Kraken Futures PF_XBTUSD	+0.0030%	1h	86,017.1	+0.002%	$191.9M	$768.7M	100x	as long as short
BingX BTC-USDC	+0.0030%	8h	85,978	−0.043%	—	$16.3M	—	as long as short
Bybit BTCUSDT	+0.0040%	8h	86,007.6	−0.009%	$5.14B	$8.13B	150x	as long as short
KuCoin XBTUSDTM	+0.0054%	8h	86,006.6	−0.010%	$943.4M	$633.5M	125x	as long as short
Popdex BTCUSDT	+0.0056%	1h	85,985	−0.035%	$8.5M	$45.6M	100x	as long as short
Gate BTC_USDT	+0.0061%	8h	86,013.2	−0.003%	$5.51B	$8.90B	200x	as long as short
Bitget BTCUSDT	+0.0092%	8h	86,006	−0.011%	$2.99B	$3.96B	150x	as long as short
HTX BTC-USDT	+0.0092%	8h	85,978.4	−0.043%	$2.27B	$803.4M	200x	as long as short
Phemex BTCUSDT	+0.0094%	8h	86,004.2	−0.013%	$170.7M	$478.6M	150x	as long as short
Lighter BTC	+0.0096%	1h	86,008.3	−0.008%	$173.5M	$856.1M	50x	as long as short
Lighter RH BTC	+0.0096%	1h	86,015.2	0.000%	$23.4M	$119.5M	50x	as long as short
Aevo BTC-PERP	+0.0096%	1h	85,969.7	−0.053%	$2.4M	$6.8M	20x	as long as short
Binance BTCUSDT	+0.0097%	8h	86,000.4	−0.017%	$9.44B	$20.54B	150x	as long as short
MEXC BTC_USDT	+0.0097%	8h	86,001.1	−0.017%	$5.16B	$4.83B	500x	as long as short
Bullet BTC-USD	+0.0098%	1h	85,984.9	−0.035%	$206K	$3.2M	20x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	85,955	−0.070%	$217K	$8.1M	50x	as long as short
Paradex BTC-USD-PERP	+0.0100%	8h	86,007.7	−0.009%	$6.0M	$7.6M	50x	as long as short
Nado BTC-PERP	+0.0100%	1h	85,972	−0.051%	$23.5M	$195.4M	50x	as long as short
Pacifica BTC	+0.0100%	1h	86,018.2	+0.003%	$40.1M	$571.2M	50x	as long as short
OKX BTC-USDT-SWAP	+0.0100%	8h	86,014.2	−0.001%	$2.62B	$9.49B	100x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	85,981	−0.040%	$4.0M	$15.0M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	86,002	−0.016%	$4.7M	$91.0M	40x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	86,007.2	−0.010%	$38.2M	$195.2M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	86,020.9	+0.006%	$157.1M	$474.6M	—	as long as short
edgeX BTCUSDC	+0.0100%	4h	86,033.8	+0.021%	$289.7M	$815.0M	100x	as long as short
GRVT BTC_USDT_Perp	+0.0100%	8h	86,026.6	+0.013%	$216.1M	$134.1M	50x	as long as short
StandX BTC-USD	+0.0100%	1h	86,073.2	+0.067%	$30.3M	$223.8M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	86,040.6	+0.029%	—	$9.5M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	85,981	−0.040%	$11.1M	$12.0M	50x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	85,981.8	−0.039%	$2.6M	$8.9M	100x	as long as short
Bluefin BTC-PERP	+0.0100%	1h	86,032.3	+0.020%	$195K	$555K	40x	as long as short
SunX BTC-USDT	+0.0100%	8h	85,996.8	−0.022%	$3.3M	$6.7M	100x	as long as short
Bulk BTC-USD	+0.0100%	1h	86,033.4	+0.021%	$715.3M	$125.7M	40x	as long as short
Extended BTC-USD	+0.0104%	1h	85,984.1	−0.036%	$46.9M	$200.7M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0056%	1h	86,049.9	+0.040%	—	$81.6M	500x	as long as short
Coinbase International BTC-PERP-INTX	+0.0120%	1h	86,045.9	+0.035%	$112.2M	$4.97B	50x	as long as short
Hyperliquid BTC	+0.0153%	1h	86,103	+0.102%	$3.97B	$4.36B	40x	as long as short
Kalshi KXBTCPERP	+0.0159%	8h	86,007	−0.010%	$12.0M	$734.6M	6.4x	as long as short
Reya BTCRUSDPERP	+0.0164%	1h	85,976.4	−0.045%	$6.6M	$131.1M	40x	as long as short
RISEx BTC/USDC	+0.0187%	1h	85,996.7	−0.022%	$8.9M	$37.1M	25x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0211% / S −0.0252%	1h	85,996.6	−0.022%	$15.6M	—	200x	as long as short
Deribit BTC-PERPETUAL	+0.0225%	1h	86,046.4	+0.036%	$820.5M	$1.49B	50x	as long as short
Hibachi BTC/USDT-Pshort	+0.0352%	1h	86,080.2	+0.075%	$725K	$7.0M	30x
Aftermath Perps BTCUSD	+0.0443%	1h	86,082.3	+0.078%	$79K	$245K	20x	as long as short