BTC

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0056%/8h= −6.1% APRnext payment −$0.07 per $10,000 · paid last 24h −0.011%

Price spread now: GMX against Hibachi+0.103%56s7-day average −0.002% · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Hibachi Short on GMX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.057%−$6 on $10k

Price spread, last 4 days (all we have)−0.113%−$11 · spread now +0.103%, 7d avg −0.002%

Together, before fees−0.170%+ Points / potential airdropHibachi: Active · farm board−$17 on $10k · with fees, hour by hour

The price spread pays, funding is against you. GMX is 0.105% dearer against Hibachi than usual: you sell high and buy low (spread +0.103% now, against its 7-day average of −0.002%): +$10 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 6.2 days. The two prices were read 56 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hibachi BTC/USDT-P	85,354.3	0.0232	pay 0.0029% / 1h	25m 54s	$684K	$7.9M	30x
Short	GMX BTC/USD [WBTC.b-USDC]	85,441.9	L +0.0200% / S −0.0176%	get 0.0022% / 1h	25m 54s	$13.1M	—	200x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against Hibachi. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 GMXbpOrdersPrice spread, now +0.103%Rate

Funding earned: −$11.77
Price spread: +0.103% → −0.002%: $10.47
Slippage, 4 orders: no order book: not counted
Fee Hibachi: 4.5 bp × 2 orders: −$9
Fee GMX: 6 bp × 2 orders: −$12
Net: −$22.29
Costs to cover: 0.210%
Break-even: never at this rate

Slippage unknown: Hibachi: live order book, 3 min ago; GMX: no order-book sample. Net counts fees only.

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, 3 min ago	0.01 bp	4.8 bp −$5	5.8 bp −$58	41.7 bp −$4,168	doesn't fit
Sell GMX no order-book sample	—	—	—	—	—

GMX: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	85,329	−0.030%	$2.1M	$10.4M	40x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	85,418	+0.075%	$8K	$3K	50x	as long as short
KuCoin XBTUSDTM	−0.0044%	8h	85,472.6	+0.139%	$928.8M	$774.3M	125x	as long as short
BloFin BTC-USDT	−0.0028%	8h	85,416.4	+0.073%	$421.5M	$683.9M	150x	as long as short
Aster BTCUSDT	−0.0010%	8h	85,458	+0.121%	$513.4M	$1.09B	200x	as long as short
01 Exchange BTCUSD	0.0000%	1h	85,465.7	+0.131%	$353K	$2.4M	50x	as long as short
Perpl BTC	0.0000%	43m	85,487.7	+0.156%	$491K	$18.5M	6.7x	as long as short
dYdX BTC-USD	+0.0001%	1h	85,470	+0.136%	$16.8M	$21.3M	50x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0004% / S −0.0004%	1h	85,477	+0.144%	$36.6M	—	200x	as long as short
Nado BTC-PERP	+0.0040%	1h	85,421	+0.078%	$24.4M	$222.4M	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	−0.126%	$338K	$26.8M	52x	as long as short
BingX BTC-USDT	+0.0071%	8h	85,466.2	+0.131%	—	$1.56B	—	as long as short
Deribit BTC-PERPETUAL	+0.0086%	1h	85,513.6	+0.187%	$862.0M	$1.64B	50x	as long as short
Aevo BTC-PERP	+0.0088%	1h	85,465	+0.130%	$2.4M	$6.7M	20x	as long as short
ApeX Omni BTCUSDT	+0.0088%	1h	85,342.3	−0.014%	$139.5M	$314.2M	100x	as long as short
Kraken Futures PF_XBTUSD	+0.0089%	1h	85,491.5	+0.161%	$185.5M	$959.3M	100x	as long as short
Bitget BTCUSDT	+0.0089%	8h	85,472.8	+0.139%	$2.97B	$5.17B	150x	as long as short
MEXC BTC_USDT	+0.0091%	8h	85,473.4	+0.140%	$5.01B	$5.76B	500x	as long as short
Binance BTCUSDT	+0.0092%	8h	85,471.7	+0.138%	$9.43B	$24.99B	150x	as long as short
Lighter BTC	+0.0096%	1h	85,483.3	+0.151%	$170.3M	$1.02B	50x	as long as short
Lighter RH BTC	+0.0096%	1h	85,483.8	+0.152%	$23.5M	$148.2M	50x	as long as short
Popdex BTCUSDT	+0.0096%	1h	85,465	+0.130%	$8.4M	$56.3M	100x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	85,445	+0.106%	$241K	$8.7M	50x	as long as short
Bybit BTCUSDT	+0.0100%	8h	85,451.1	+0.113%	$5.15B	$9.99B	150x	as long as short
Paradex BTC-USD-PERP	+0.0100%	8h	85,515.4	+0.189%	$5.8M	$9.6M	50x	as long as short
Hyperliquid BTC	+0.0100%	1h	85,551	+0.230%	$3.75B	$5.09B	40x	as long as short
Pacifica BTC	+0.0100%	1h	85,477.6	+0.144%	$40.0M	$602.6M	50x	as long as short
OKX BTC-USDT-SWAP	+0.0100%	8h	85,456.2	+0.119%	$2.60B	$12.27B	100x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	85,464	+0.129%	$3.8M	$17.1M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	85,455.5	+0.119%	$5.2M	$98.9M	40x	as long as short
Gate BTC_USDT	+0.0100%	8h	85,472.7	+0.139%	$5.56B	$11.03B	200x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	85,468.1	+0.133%	$37.1M	$178.2M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	85,275.8	−0.092%	$154.7M	$557.8M	—	as long as short
edgeX BTCUSDC	+0.0100%	4h	85,313.9	−0.047%	$279.5M	$949.6M	100x	as long as short
GRVT BTC_USDT_Perp	+0.0100%	8h	85,293.3	−0.071%	$214.1M	$165.1M	50x	as long as short
StandX BTC-USD	+0.0100%	1h	85,414.7	+0.071%	$30.1M	$203.9M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	85,514.7	+0.188%	—	$10.9M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	85,469	+0.134%	$11.0M	$14.6M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	85,467.8	+0.133%	$201K	$3.3M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	85,462.3	+0.127%	$2.6M	$9.8M	100x	as long as short
Bluefin BTC-PERP	+0.0100%	1h	85,504.6	+0.176%	$194K	$795K	40x	as long as short
Derive BTC-PERP	+0.0100%	1h	85,214.5	−0.164%	$29.9M	$47.0M	15x	as long as short
SunX BTC-USDT	+0.0100%	8h	85,421.9	+0.079%	$2.9M	$6.0M	100x	as long as short
SoDEX BTC-USD	+0.0100%	1h	85,471	+0.137%	$59.8M	$336.8M	40x	as long as short
HTX BTC-USDT	+0.0100%	8h	85,465.3	+0.130%	$2.26B	$968.4M	200x	as long as short
Phemex BTCUSDT	+0.0100%	8h	85,462.6	+0.127%	$152.7M	$510.2M	150x	as long as short
Bulk BTC-USD	+0.0100%	1h	85,269.9	−0.099%	$683.1M	$415.1M	40x	as long as short
Extended BTC-USD	+0.0104%	1h	85,452.1	+0.115%	$44.9M	$240.8M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0056%	1h	85,442.9	+0.104%	—	$106.9M	500x	as long as short
Coinbase International BTC-PERP-INTX	+0.0104%	1h	85,512.8	+0.186%	$115.5M	$5.48B	50x	as long as short
Reya BTCRUSDPERP	+0.0129%	1h	85,462.8	+0.127%	$6.6M	$147.7M	40x	as long as short
Kalshi KXBTCPERP	+0.0183%	8h	85,476	+0.143%	$11.9M	$741.0M	6.4x	as long as short
RISEx BTC/USDC	+0.0193%	1h	85,488.8	+0.158%	$8.8M	$42.9M	25x	as long as short
GMX BTC/USD [WBTC.b-USDC]short	L +0.0200% / S −0.0176%	1h	85,441.9	+0.103%	$13.1M	—	200x
Hibachi BTC/USDT-Plong	+0.0232%	1h	85,354.3	long leg	$684K	$7.9M	30x
Aftermath Perps BTCUSD	+0.0253%	1h	85,347.3	−0.008%	$79K	$230K	20x	as long as short