Funding you earn now, next payment 03:00 UTC−0.0128%/8h= −14.0% APRnext payment −$0.16 per $10,000 · paid last 24h −0.021%
Price spread now: Coinbase International against Hibachi+0.008%7-day average +0.003% · you sell dearer than you buy
Net, funding: paid 7d − costs−$53as in the Funding arb table
Net, price: spread back to 7d avg − costs−$19as in the Price arb table
costs, in and out, $10k−$190.194% of the position
Funding, last 7 days−0.332%−$33 on $10k
+Price spread, last 4 days (all we have)−0.065%−$6 · spread now +0.008%, 7d avg +0.003%
=Together, before fees−0.397%+ Points / potential airdropHibachi: Active · farm board−$40 on $10k · with fees, hour by hour
The price spread sits at its 7-day average of +0.003%, so right now this pair is about funding alone: −$4 a day on $10k at the current rate.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Hibachi BTC/USDT-P | 85,526.5 | 0.0232 | pay 0.0029% / 1h | 12m 05s | $702K | $7.9M | 30x |
| Short | Coinbase International BTC-PERP-INTX | 85,533.3 | 0.0104 | get 0.0013% / 1h | 12m 05s | $117.2M | $5.20B | 50x |
Hibachi BTC/USDT-P
Coinbase International BTC-PERP-INTXFunding history
latest
Range statsloading…
Price spread between the two exchanges
Coinbase International 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
- −$26.88
- Price spread: +0.008% → +0.003%
- $0.48
- Slippage, 4 orders
- −$0.43
- Fee Hibachi: 4.5 bp × 2 orders
- −$9
- Fee Coinbase International: 5 bp × 2 orders
- −$10
- Net
- −$45.83
- Costs to cover
- 0.194%
- Break-even
- never at this rate
Slippage from Hibachi: live order book, 2 min ago; Coinbase International: 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 Hibachi live order book, 2 min ago | 0.01 bp | 4.6 bp −$5 | 4.7 bp −$47 | 39.9 bp −$3,986 | doesn't fit |
| Sell Coinbase International live order book, 2 min ago | 0.01 bp | 5.0 bp −$5 | 5.0 bp −$50 | 5.3 bp −$531 | 11.3 bp −$5,641 |
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 | −0.0179% | 1h | 85,466 | −0.071% | $2.1M | $10.3M | 40x | as long as short |
| Bluefin BTC-PERP | −0.0122% | 1h | 85,535.4 | +0.010% | $207K | $739K | 40x | as long as short |
| Hotstuff BTC-PERP | −0.0080% | 1h | 85,505 | −0.025% | $8K | $3K | 50x | as long as short |
| 01 Exchange BTCUSD | −0.0056% | 1h | 85,483.6 | −0.050% | $365K | $2.3M | 50x | as long as short |
| KuCoin XBTUSDTM | −0.0028% | 8h | 85,471 | −0.065% | $919.4M | $752.0M | 125x | as long as short |
| BloFin BTC-USDT | −0.0021% | 8h | 85,487.8 | −0.045% | $417.2M | $668.9M | 150x | as long as short |
| gTrade (Gains Network) BTC/USD | L +0.0005% / S −0.0004% | 1h | 85,502.4 | −0.028% | $36.5M | — | 200x | as long as short |
| Aster BTCUSDT | +0.0011% | 8h | 85,483.2 | −0.051% | $515.3M | $1.10B | 200x | as long as short |
| dYdX BTC-USD | +0.0012% | 1h | 85,459.5 | −0.078% | $16.7M | $21.2M | 50x | as long as short |
| Nado BTC-PERP | +0.0016% | 1h | 85,475.4 | −0.060% | $25.1M | $222.0M | 50x | as long as short |
Phoenix BTC
Bluefin BTC-PERP
Hotstuff BTC-PERP
01 Exchange BTCUSD
KuCoin XBTUSDTM
BloFin BTC-USDT
gTrade (Gains Network) BTC/USD
Aster BTCUSDT
dYdX BTC-USD
Nado BTC-PERPShow all 56 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Arcus BTC-USD | +0.0021% | 1h | 85,463 | −0.074% | $4.6M | $97.8M | 40x | as long as short |
| BingX BTC-USDT | +0.0062% | 8h | 85,493.3 | −0.039% | — | $1.54B | — | as long as short |
| Phemex BTCUSDT | +0.0076% | 8h | 85,484.6 | −0.049% | $147.8M | $488.3M | 150x | as long as short |
| Bitget BTCUSDT | +0.0079% | 8h | 85,492.8 | −0.039% | $2.95B | $5.08B | 150x | as long as short |
| Reya BTCRUSDPERP | +0.0085% | 1h | 85,481.5 | −0.053% | $6.7M | $146.8M | 40x | as long as short |
| Lighter BTC | +0.0096% | 1h | 85,502.3 | −0.028% | $172.4M | $1.02B | 50x | as long as short |
| Lighter RH BTC | +0.0096% | 1h | 85,502.1 | −0.029% | $23.9M | $149.4M | 50x | as long as short |
| Popdex BTCUSDT | +0.0096% | 1h | 85,479 | −0.056% | $8.4M | $53.2M | 100x | as long as short |
| Aevo BTC-PERP | +0.0096% | 1h | 85,485.5 | −0.048% | $2.4M | $1.7M | 20x | as long as short |
| MEXC BTC_USDT | +0.0099% | 8h | 85,489.4 | −0.043% | $5.07B | $5.65B | 500x | as long as short |
| Katana Perps BTC-USD | +0.0100% | 8h | 85,451 | −0.088% | $210K | $8.1M | 50x | as long as short |
| Binance BTCUSDT | +0.0100% | 8h | 85,494.4 | −0.038% | $9.36B | $24.16B | 150x | as long as short |
| Paradex BTC-USD-PERP | +0.0100% | 8h | 85,537.9 | +0.013% | $5.1M | $9.1M | 50x | as long as short |
| Hyperliquid BTC | +0.0100% | 1h | 85,566 | +0.046% | $3.75B | $4.99B | 40x | as long as short |
| Pacifica BTC | +0.0100% | 1h | 85,511.8 | −0.017% | $40.1M | $579.3M | 50x | as long as short |
| Bybit BTCUSDT | +0.0100% | 8h | 85,490.1 | −0.043% | $5.20B | $9.80B | 150x | as long as short |
| OKX BTC-USDT-SWAP | +0.0100% | 8h | 85,500 | −0.031% | $2.58B | $12.14B | 100x | as long as short |
| Ondo Perps BTC-USD.P | +0.0100% | 1h | 85,491 | −0.041% | $3.9M | $18.3M | 25x | as long as short |
| Bulk BTC-USD | +0.0100% | 1h | 85,445.9 | −0.094% | $666.8M | $675.6M | 40x | as long as short |
| Gate BTC_USDT | +0.0100% | 8h | 85,491.7 | −0.041% | $5.51B | $10.75B | 200x | as long as short |
| Backpack BTC_USDC_PERP | +0.0100% | 1h | 85,477.8 | −0.057% | $35.0M | $177.1M | 75x | as long as short |
| Variational Omni BTC | +0.0100% | 8h | 85,420.9 | −0.123% | $153.3M | $564.9M | — | as long as short |
| edgeX BTCUSDC | +0.0100% | 4h | 85,431 | −0.112% | $279.1M | $923.0M | 100x | as long as short |
| GRVT BTC_USDT_Perp | +0.0100% | 8h | 85,456.5 | −0.082% | $214.5M | $168.8M | 50x | as long as short |
| ApeX Omni BTCUSDT | +0.0100% | 1h | 85,469.4 | −0.067% | $139.7M | $314.8M | 100x | as long as short |
| StandX BTC-USD | +0.0100% | 1h | 85,474.3 | −0.061% | $30.2M | $208.4M | 40x | as long as short |
| Vest BTC-PERP | +0.0100% | 1h | 85,532.9 | +0.008% | — | $11.8M | 50x | as long as short |
| Polymarket Perps BTC-USD | +0.0100% | 1h | 85,477 | −0.058% | $11.1M | $14.3M | 50x | as long as short |
| Bullet BTC-USD | +0.0100% | 1h | 85,487.9 | −0.045% | $192K | $3.3M | 20x | as long as short |
| Orderly PERP_BTC_USDC | +0.0100% | 8h | 85,495.8 | −0.036% | $2.4M | $8.8M | 100x | as long as short |
| Derive BTC-PERP | +0.0100% | 1h | 85,481.5 | −0.053% | $30.0M | $50.2M | 15x | as long as short |
| SunX BTC-USDT | +0.0100% | 8h | 85,467.6 | −0.069% | $2.9M | $6.1M | 100x | as long as short |
| SoDEX BTC-USD | +0.0100% | 1h | 85,495 | −0.037% | $59.9M | $336.1M | 40x | as long as short |
| HTX BTC-USDT | +0.0100% | 8h | 85,470.7 | −0.065% | $2.26B | $942.6M | 200x | as long as short |
| Deribit BTC-PERPETUAL | +0.0104% | 1h | 85,531.8 | +0.006% | $890.7M | $1.58B | 50x | as long as short |
| Extended BTC-USD | +0.0104% | 1h | 85,465.9 | −0.071% | $44.6M | $231.0M | 50x | as long as short |
| Jupiter Perps WBTC-PERP | L +0.0104% / S +0.0048% | 1h | 85,500.1 | −0.031% | — | $107.5M | 500x | as long as short |
| Coinbase International BTC-PERP-INTXshort | +0.0104% | 1h | 85,533.3 | +0.008% | $117.2M | $5.20B | 50x | |
| Injective BTC/USDC PERP | +0.0150% | 1h | 85,442 | −0.099% | $339K | $26.9M | 52x | as long as short |
| Kraken Futures PF_XBTUSD | +0.0170% | 1h | 85,516.1 | −0.012% | $187.4M | $954.9M | 100x | as long as short |
| GMX BTC/USD [WBTC.b-USDC] | L +0.0176% / S −0.0152% | 1h | 85,496 | −0.036% | $13.3M | — | 200x | as long as short |
| RISEx BTC/USDC | +0.0194% | 1h | 85,503.9 | −0.026% | $8.3M | $42.5M | 25x | as long as short |
| Aftermath Perps BTCUSD | +0.0219% | 1h | 85,492.3 | −0.040% | $78K | $219K | 20x | as long as short |
| Kalshi KXBTCPERP | +0.0220% | 8h | 85,512 | −0.017% | $10.4M | $756.1M | 6.4x | as long as short |
| Hibachi BTC/USDT-Plong | +0.0232% | 1h | 85,526.5 | long leg | $702K | $7.9M | 30x | |
| Perpl BTC | +0.0447% | 43m | 85,493.1 | −0.039% | $495K | $18.8M | 6.7x | as long as short |
Arcus BTC-USD
BingX BTC-USDT
Phemex BTCUSDT
Bitget BTCUSDT
Reya BTCRUSDPERP
Lighter BTC
Lighter RH BTC
Popdex BTCUSDT
Aevo BTC-PERP
MEXC BTC_USDT
Katana Perps BTC-USD
Binance BTCUSDT
Paradex BTC-USD-PERP
Hyperliquid BTC
Pacifica BTC
Bybit BTCUSDT
OKX BTC-USDT-SWAP
Ondo Perps BTC-USD.P
Bulk BTC-USD
Gate BTC_USDT
Backpack BTC_USDC_PERP
Variational Omni BTC
edgeX BTCUSDC
GRVT BTC_USDT_Perp
ApeX Omni BTCUSDT
StandX BTC-USD
Vest BTC-PERP
Polymarket Perps BTC-USD
Bullet BTC-USD
Orderly PERP_BTC_USDC
Derive BTC-PERP
SunX BTC-USDT
SoDEX BTC-USD
HTX BTC-USDT
Deribit BTC-PERPETUAL
Extended BTC-USD
Jupiter Perps WBTC-PERP
Injective BTC/USDC PERP
Kraken Futures PF_XBTUSD
GMX BTC/USD [WBTC.b-USDC]
RISEx BTC/USDC
Aftermath Perps BTCUSD
Kalshi KXBTCPERP
Perpl BTC