Funding you earn now, next payment 02:00 UTC−0.0053%/8h= −5.8% APRpaid last 24h −0.041%
Price spread now: Binance against Hibachi−0.006%7-day average −0.038% · you buy dearer than you sell
Net, funding: paid 7d − costs−$53as in the Funding arb table
Net, price: spread back to 7d avg − costs−$16as in the Price arb table
costs, in and out, $10k−$190.195% of the position
Funding, last 7 days−0.340%−$34 on $10k
+Price spread, last 7 days−0.038%−$4 · spread now −0.006%, 7d avg −0.038%
=Together, before fees−0.378%+ Points / potential airdropHibachi: Active · farm board−$38 on $10k · with fees, hour by hour
The price spread pays, funding is against you. Binance is 0.032% dearer against Hibachi than usual: you sell high and buy low (spread −0.006% now, against its 7-day average of −0.038%): +$3 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 48 hours. At the pace of the last 7 days (−0.340% in total) that is about 16 hours.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Hibachi BTC/USDT-P | 85,671.4 | 0.0144 | pay 0.0018% / 1h | 17m 01s | $694K | $7.8M | 30x |
| Short | Binance BTCUSDT | 85,666 | 0.0091 | get 0.0091% / 8h | 6h 17m | $9.33B | $24.29B | 150x |
Hibachi BTC/USDT-P
Binance BTCUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Binance against Hibachi. 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
- −$11.09
- Price spread: −0.006% → −0.038%
- $3.16
- Slippage, 4 orders
- −$0.48
- Fee Hibachi: 4.5 bp × 2 orders
- −$9
- Fee Binance: 5 bp × 2 orders
- −$10
- Net
- −$27.42
- Costs to cover
- 0.195%
- Break-even
- never at this rate
Slippage from Hibachi: live order book, 2 min ago; Binance: live order book, 12 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, 2 min ago | 0.01 bp | 4.5 bp −$5 | 4.9 bp −$49 | 35.7 bp −$3,565 | doesn't fit |
| Sell Binance live order book, 12 min ago | 0.01 bp | 5.0 bp −$5 | 5.0 bp −$50 | 6.0 bp −$598 | 7.7 bp −$3,839 |
BTC 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 | |
|---|---|---|---|---|---|---|---|---|
| Phoenix BTC | −0.0144% | 1h | 85,785 | +0.133% | $2.2M | $10.5M | 40x | as long as short |
| Hotstuff BTC-PERP | −0.0080% | 1h | 85,660 | −0.013% | $8K | $3K | 50x | as long as short |
| 01 Exchange BTCUSD | −0.0064% | 1h | 85,632.6 | −0.045% | $362K | $2.3M | 50x | as long as short |
| dYdX BTC-USD | +0.0002% | 1h | 85,692.4 | +0.025% | $16.8M | $21.0M | 50x | as long as short |
| gTrade (Gains Network) BTC/USD | L +0.0004% / S −0.0004% | 1h | 85,673.6 | +0.003% | $36.7M | — | 200x | as long as short |
| Injective BTC/USDC PERP | +0.0020% | 1h | 85,691 | +0.023% | $340K | $26.9M | 52x | as long as short |
| KuCoin XBTUSDTM | +0.0031% | 8h | 85,645.3 | −0.030% | $900.5M | $753.8M | 125x | as long as short |
| Aster BTCUSDT | +0.0033% | 8h | 85,660 | −0.013% | $516.0M | $1.14B | 200x | as long as short |
| RISEx BTC/USDC | +0.0044% | 1h | 85,667.3 | −0.005% | $8.2M | $42.1M | 25x | as long as short |
| Nado BTC-PERP | +0.0044% | 1h | 85,663.2 | −0.010% | $22.6M | $227.4M | 50x | as long as short |
Phoenix BTC
Hotstuff BTC-PERP
01 Exchange BTCUSD
dYdX BTC-USD
gTrade (Gains Network) BTC/USD
Injective BTC/USDC PERP
KuCoin XBTUSDTM
Aster BTCUSDT
RISEx BTC/USDC
Nado BTC-PERPShow all 55 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| BingX BTC-USDC | +0.0056% | 8h | 85,653.7 | −0.021% | — | $17.1M | — | as long as short |
| Reya BTCRUSDPERP | +0.0059% | 1h | 85,635.1 | −0.042% | $6.7M | $146.3M | 40x | as long as short |
| HTX BTC-USDT | +0.0061% | 8h | 85,652.2 | −0.022% | $2.27B | $947.6M | 200x | as long as short |
| Bitget BTCUSDT | +0.0070% | 8h | 85,670.2 | −0.001% | $2.95B | $5.08B | 150x | as long as short |
| Binance BTCUSDTshort | +0.0091% | 8h | 85,666 | −0.006% | $9.33B | $24.29B | 150x | |
| ApeX Omni BTCUSDT | +0.0091% | 1h | 85,637.3 | −0.040% | $140.0M | $318.1M | 100x | as long as short |
| MEXC BTC_USDT | +0.0092% | 8h | 85,672.8 | +0.002% | $5.09B | $5.75B | 500x | as long as short |
| Lighter BTC | +0.0096% | 1h | 85,671.9 | +0.001% | $170.5M | $992.8M | 50x | as long as short |
| Lighter RH BTC | +0.0096% | 1h | 85,681.4 | +0.012% | $23.5M | $147.7M | 50x | as long as short |
| Popdex BTCUSDT | +0.0096% | 1h | 85,636 | −0.041% | $8.4M | $51.9M | 100x | as long as short |
| Aevo BTC-PERP | +0.0096% | 1h | 85,655.3 | −0.019% | $2.5M | $1.8M | 20x | as long as short |
| Katana Perps BTC-USD | +0.0100% | 8h | 85,616 | −0.065% | $202K | $7.5M | 50x | as long as short |
| Paradex BTC-USD-PERP | +0.0100% | 8h | 85,637.8 | −0.039% | $3.8M | $8.4M | 50x | as long as short |
| Hyperliquid BTC | +0.0100% | 1h | 85,732 | +0.071% | $3.76B | $4.98B | 40x | as long as short |
| Pacifica BTC | +0.0100% | 1h | 85,692 | +0.024% | $40.8M | $571.9M | 50x | as long as short |
| Bybit BTCUSDT | +0.0100% | 8h | 85,703.2 | +0.037% | $5.31B | $9.74B | 150x | as long as short |
| OKX BTC-USDT-SWAP | +0.0100% | 8h | 85,664.2 | −0.008% | $2.54B | $12.34B | 100x | as long as short |
| Ondo Perps BTC-USD.P | +0.0100% | 1h | 85,652 | −0.023% | $3.9M | $18.3M | 25x | as long as short |
| Arcus BTC-USD | +0.0100% | 1h | 85,616 | −0.065% | $7.2M | $97.6M | 40x | as long as short |
| Bulk BTC-USD | +0.0100% | 1h | 85,744.8 | +0.086% | $590.5M | $195.3M | 40x | as long as short |
| Gate BTC_USDT | +0.0100% | 8h | 85,672.7 | +0.002% | $5.59B | $10.57B | 200x | as long as short |
| Backpack BTC_USDC_PERP | +0.0100% | 1h | 85,650.5 | −0.024% | $35.3M | $165.7M | 75x | as long as short |
| Variational Omni BTC | +0.0100% | 8h | 85,688 | +0.019% | $156.6M | $555.8M | — | as long as short |
| edgeX BTCUSDC | +0.0100% | 4h | 85,614.3 | −0.067% | $278.4M | $941.4M | 100x | as long as short |
| GRVT BTC_USDT_Perp | +0.0100% | 8h | 85,656.6 | −0.017% | $214.9M | $164.7M | 50x | as long as short |
| StandX BTC-USD | +0.0100% | 1h | 85,624.3 | −0.055% | $30.3M | $208.8M | 40x | as long as short |
| Vest BTC-PERP | +0.0100% | 1h | 85,702.1 | +0.036% | — | $11.8M | 50x | as long as short |
| Polymarket Perps BTC-USD | +0.0100% | 1h | 85,655 | −0.019% | $11.0M | $14.2M | 50x | as long as short |
| Bullet BTC-USD | +0.0100% | 1h | 85,663 | −0.010% | $187K | $3.3M | 20x | as long as short |
| Orderly PERP_BTC_USDC | +0.0100% | 8h | 85,656.2 | −0.018% | $2.4M | $9.1M | 100x | as long as short |
| Bluefin BTC-PERP | +0.0100% | 1h | 85,701.5 | +0.035% | $186K | $708K | 40x | as long as short |
| Derive BTC-PERP | +0.0100% | 1h | 85,661.5 | −0.012% | $30.0M | $56.0M | 15x | as long as short |
| SunX BTC-USDT | +0.0100% | 8h | 85,628.8 | −0.050% | $2.9M | $6.6M | 100x | as long as short |
| SoDEX BTC-USD | +0.0100% | 1h | 85,660 | −0.013% | $60.0M | $337.0M | 40x | as long as short |
| Phemex BTCUSDT | +0.0100% | 8h | 85,668 | −0.004% | $153.3M | $480.8M | 150x | as long as short |
| Extended BTC-USD | +0.0104% | 1h | 85,650.3 | −0.025% | $44.0M | $227.9M | 50x | as long as short |
| Jupiter Perps WBTC-PERP | L +0.0104% / S +0.0056% | 1h | 85,652.6 | −0.022% | — | $101.9M | 500x | as long as short |
| Coinbase International BTC-PERP-INTX | +0.0112% | 1h | 85,704 | +0.038% | $131.2M | $5.15B | 50x | as long as short |
| Hibachi BTC/USDT-Plong | +0.0144% | 1h | 85,671.4 | long leg | $694K | $7.8M | 30x | |
| Kraken Futures PF_XBTUSD | +0.0146% | 1h | 85,692.5 | +0.025% | $187.9M | $963.6M | 100x | as long as short |
| Aftermath Perps BTCUSD | +0.0171% | 1h | 85,703 | +0.037% | $78K | $219K | 20x | as long as short |
| GMX BTC/USD [WBTC.b-USDC] | L +0.0203% / S −0.0189% | 1h | 85,670.8 | −0.001% | $13.5M | — | 200x | as long as short |
| Kalshi KXBTCPERP | +0.0212% | 8h | 85,676 | +0.005% | $10.3M | $770.1M | 6.4x | as long as short |
| Deribit BTC-PERPETUAL | +0.0219% | 1h | 85,710.9 | +0.046% | $894.7M | $1.54B | 50x | as long as short |
| Perpl BTC | +0.0447% | 43m | 85,666.2 | −0.006% | $513K | $20.5M | 6.7x | as long as short |
BingX BTC-USDC
Reya BTCRUSDPERP
HTX BTC-USDT
Bitget BTCUSDT
ApeX Omni BTCUSDT
MEXC BTC_USDT
Lighter BTC
Lighter RH BTC
Popdex BTCUSDT
Aevo BTC-PERP
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
Phemex BTCUSDT
Extended BTC-USD
Jupiter Perps WBTC-PERP
Coinbase International BTC-PERP-INTX
Kraken Futures PF_XBTUSD
Aftermath Perps BTCUSD
GMX BTC/USD [WBTC.b-USDC]
Kalshi KXBTCPERP
Deribit BTC-PERPETUAL
Perpl BTC