BTC

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0015%/8h= +1.7% APRnext payment +$0.02 per $10,000 · paid last 24h −0.026%

Price spread now: Aftermath Perps against Hibachi−0.134%7-day average −0.017% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$40as in the Price arb table

costs, in and out, $10k−$290.285% of the position

Long on Hibachi Short on Aftermath Perps

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.083%−$8 on $10k

Price spread, last 4 days (all we have)+0.125%+$13 · spread now −0.134%, 7d avg −0.017%

Together, before fees+0.043%+ Points / potential airdropHibachi: Active · farm board+$4 on $10k · with fees, hour by hour

Funding pays, the price is against you. Aftermath Perps is 0.117% cheaper against Hibachi than usual: you would sell low and buy high (spread −0.134% now, against its 7-day average of −0.017%). If the spread goes back, that is −$12 on $10k: about 26 days of funding at the current rate ($0 a day). Mind the row above: over the last 3 days funding on this pair cost −0.083%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hibachi BTC/USDT-P	85,492.1	0.0232	pay 0.0029% / 1h	24m 41s	$685K	$7.9M	30x
Short	Aftermath Perps BTCUSD	85,377.9	0.0247	get 0.0031% / 1h	24m 41s	$79K	$230K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aftermath Perps against Hibachi. 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 HibachibpFee Aftermath PerpsbpOrdersPrice spread, now −0.134%Rate

Funding earned: $3.18
Price spread: −0.134% → −0.017%: −$11.68
Slippage, 4 orders: −$10.5
Fee Hibachi: 4.5 bp × 2 orders: −$9
Fee Aftermath Perps: 4.5 bp × 2 orders: −$9
Net: −$37.01
Costs to cover: 0.285%
Break-even: 88.6 days

Slippage from Hibachi: live order book, 4 min ago; Aftermath Perps: live order book, 24 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 Hibachi live order book, 4 min ago	0.01 bp	4.8 bp −$5	5.8 bp −$58	41.7 bp −$4,168	doesn't fit
Sell Aftermath Perps live order book, 24 min ago	0.14 bp	10.6 bp −$11	doesn't fit	doesn't fit	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
Phoenix BTC	−0.0082%	1h	85,446	−0.054%	$2.1M	$10.4M	40x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	85,452	−0.047%	$8K	$3K	50x	as long as short
KuCoin XBTUSDTM	−0.0043%	8h	85,437.3	−0.064%	$928.4M	$774.3M	125x	as long as short
BloFin BTC-USDT	−0.0027%	8h	85,477	−0.018%	$421.1M	$684.6M	150x	as long as short
Aster BTCUSDT	−0.0009%	8h	85,440.9	−0.060%	$513.2M	$1.09B	200x	as long as short
01 Exchange BTCUSD	0.0000%	1h	85,452.6	−0.046%	$353K	$2.4M	50x	as long as short
Perpl BTC	0.0000%	43m	85,523	+0.036%	$491K	$18.5M	6.7x	as long as short
dYdX BTC-USD	+0.0001%	1h	85,470	−0.026%	$16.8M	$21.3M	50x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0004% / S −0.0004%	1h	85,477	−0.018%	$36.6M	—	200x	as long as short
Nado BTC-PERP	+0.0040%	1h	85,468.9	−0.027%	$24.4M	$222.6M	50x	as long as short

Show all 56 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Injective BTC/USDC PERP	+0.0057%	1h	85,247	−0.287%	$338K	$26.8M	52x	as long as short
Deribit BTC-PERPETUAL	+0.0069%	1h	85,511	+0.022%	$862.0M	$1.64B	50x	as long as short
BingX BTC-USDT	+0.0071%	8h	85,441.9	−0.059%	—	$1.57B	—	as long as short
Aevo BTC-PERP	+0.0088%	1h	85,469.4	−0.027%	$2.4M	$6.7M	20x	as long as short
Kraken Futures PF_XBTUSD	+0.0089%	1h	85,484.7	−0.009%	$186.4M	$960.5M	100x	as long as short
Bitget BTCUSDT	+0.0090%	8h	85,439.8	−0.061%	$2.97B	$5.17B	150x	as long as short
MEXC BTC_USDT	+0.0092%	8h	85,439.3	−0.062%	$5.02B	$5.76B	500x	as long as short
Binance BTCUSDT	+0.0093%	8h	85,439.6	−0.061%	$9.43B	$24.99B	150x	as long as short
Lighter BTC	+0.0096%	1h	85,457	−0.041%	$170.1M	$1.02B	50x	as long as short
Lighter RH BTC	+0.0096%	1h	85,454.6	−0.044%	$23.5M	$148.2M	50x	as long as short
Popdex BTCUSDT	+0.0096%	1h	85,439	−0.062%	$8.4M	$56.4M	100x	as long as short
Bybit BTCUSDT	+0.0099%	8h	85,437.1	−0.064%	$5.15B	$9.99B	150x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	85,421	−0.083%	$243K	$8.7M	50x	as long as short
Paradex BTC-USD-PERP	+0.0100%	8h	85,489	−0.004%	$5.8M	$9.6M	50x	as long as short
Hyperliquid BTC	+0.0100%	1h	85,525	+0.038%	$3.75B	$5.07B	40x	as long as short
Pacifica BTC	+0.0100%	1h	85,473.5	−0.022%	$40.0M	$602.6M	50x	as long as short
OKX BTC-USDT-SWAP	+0.0100%	8h	85,445.2	−0.055%	$2.60B	$12.27B	100x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	85,448	−0.052%	$3.8M	$17.1M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	85,437.4	−0.064%	$5.2M	$98.9M	40x	as long as short
Gate BTC_USDT	+0.0100%	8h	85,445.9	−0.054%	$5.55B	$11.03B	200x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	85,455.7	−0.043%	$37.1M	$178.2M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	85,436.8	−0.065%	$154.6M	$558.5M	—	as long as short
edgeX BTCUSDC	+0.0100%	4h	85,386.4	−0.124%	$279.8M	$950.4M	100x	as long as short
GRVT BTC_USDT_Perp	+0.0100%	8h	85,423.4	−0.080%	$214.5M	$163.9M	50x	as long as short
ApeX Omni BTCUSDT	+0.0100%	1h	85,436.7	−0.065%	$139.7M	$313.7M	100x	as long as short
StandX BTC-USD	+0.0100%	1h	85,414.7	−0.090%	$30.1M	$203.9M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	85,552.4	+0.071%	—	$10.9M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	85,506	+0.016%	$11.0M	$14.6M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	85,500	+0.009%	$202K	$3.3M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	85,480.4	−0.014%	$2.6M	$9.8M	100x	as long as short
Bluefin BTC-PERP	+0.0100%	1h	85,520.3	+0.033%	$194K	$795K	40x	as long as short
Derive BTC-PERP	+0.0100%	1h	85,214.5	−0.325%	$29.9M	$47.0M	15x	as long as short
SunX BTC-USDT	+0.0100%	8h	85,506.7	+0.017%	$2.9M	$6.1M	100x	as long as short
SoDEX BTC-USD	+0.0100%	1h	85,471	−0.025%	$59.8M	$336.8M	40x	as long as short
HTX BTC-USDT	+0.0100%	8h	85,479.1	−0.015%	$2.26B	$968.7M	200x	as long as short
Phemex BTCUSDT	+0.0100%	8h	85,498.9	+0.008%	$152.9M	$510.7M	150x	as long as short
Bulk BTC-USD	+0.0100%	1h	85,269.9	−0.260%	$683.1M	$415.1M	40x	as long as short
Extended BTC-USD	+0.0104%	1h	85,418.3	−0.086%	$44.9M	$240.8M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0056%	1h	85,481.9	−0.012%	—	$106.8M	500x	as long as short
Coinbase International BTC-PERP-INTX	+0.0104%	1h	85,505.6	+0.016%	$115.2M	$5.49B	50x	as long as short
Reya BTCRUSDPERP	+0.0129%	1h	85,462.8	−0.034%	$6.6M	$147.7M	40x	as long as short
Kalshi KXBTCPERP	+0.0183%	8h	85,499	+0.008%	$11.8M	$741.1M	6.4x	as long as short
RISEx BTC/USDC	+0.0193%	1h	85,469.4	−0.027%	$8.8M	$42.8M	25x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0200% / S −0.0176%	1h	85,441.9	−0.059%	$13.1M	—	200x	as long as short
Hibachi BTC/USDT-Plong	+0.0232%	1h	85,492.1	long leg	$685K	$7.9M	30x
Aftermath Perps BTCUSDshort	+0.0247%	1h	85,377.9	−0.134%	$79K	$230K	20x