Funding you earn now, next payment 10:00 UTC−0.0180%/8h= −19.7% APRpaid last 24h −0.031%
Price spread now: Paradex against Hibachi−0.040%7-day average −0.027% · 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−$46as in the Price arb table
costs, in and out, $10k−$450.449% of the position
Funding, last 4 days (all we have)−0.133%−$13 on $10k
+Price spread, last 7 days+0.028%+$3 · spread now −0.040%, 7d avg −0.027%
=Together, before fees−0.104%+ Points / potential airdropHibachi: Active · Paradex: Active · farm board−$10 on $10k · with fees, hour by hour
The price spread sits at its 7-day average of −0.027%, so right now this pair is about funding alone: −$5 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 | 86,110.1 | 0.0280 | pay 0.0035% / 1h | 56m 23s | $694K | $7.4M | 30x |
| Short | Paradex BTC-USD-PERP | 86,075.7 | 0.0100 | get 0.0100% / 8h | 6h 56m | $6.0M | $8.6M | 50x |
Hibachi BTC/USDT-P
Paradex BTC-USD-PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Paradex 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
- −$37.86
- Price spread: −0.040% → −0.027%
- −$1.34
- Slippage, 4 orders
- −$31.94
- Fee Hibachi: 4.5 bp × 2 orders
- −$9
- Fee Paradex: 2 bp × 2 orders
- −$4
- Net
- −$84.15
- Costs to cover
- 0.449%
- Break-even
- never at this rate
Slippage from Hibachi: live order book, 3 min ago; Paradex: live order book, 3 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, 3 min ago | 0.01 bp | 16.9 bp −$17 | doesn't fit | doesn't fit | doesn't fit |
| Sell Paradex live order book, 3 min ago | 0.01 bp | 4.4 bp −$4 | 4.4 bp −$44 | 205.5 bp −$20.6K | doesn't fit |
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 | |
|---|---|---|---|---|---|---|---|---|
| Hotstuff BTC-PERP | −0.0080% | 1h | 86,076 | −0.040% | $8K | $2K | 50x | as long as short |
| Injective BTC/USDC PERP | −0.0065% | 1h | 85,924 | −0.216% | $300K | $25.2M | 52x | as long as short |
| 01 Exchange BTCUSD | −0.0064% | 1h | 86,010.8 | −0.115% | $359K | $2.1M | 50x | as long as short |
| BloFin BTC-USDT | −0.0020% | 8h | 86,084.1 | −0.030% | $422.1M | $623.5M | 150x | as long as short |
| dYdX BTC-USD | 0.0000% | 1h | 86,054.1 | −0.065% | $16.9M | $17.6M | 50x | as long as short |
| gTrade (Gains Network) BTC/USD | L +0.0004% / S −0.0004% | 1h | 86,207.1 | +0.113% | $36.9M | — | 200x | as long as short |
| KuCoin XBTUSDTM | +0.0036% | 8h | 86,007.1 | −0.120% | $936.2M | $665.5M | 125x | as long as short |
| Bybit BTCUSDT | +0.0038% | 8h | 85,985.3 | −0.145% | $5.10B | $9.04B | 150x | as long as short |
| Aster BTCUSDT | +0.0046% | 8h | 86,010 | −0.116% | $503.5M | $968.4M | 200x | as long as short |
| BingX BTC-USDT | +0.0071% | 8h | 85,988.7 | −0.141% | — | $1.46B | — | as long as short |
Hotstuff BTC-PERP
Injective BTC/USDC PERP
01 Exchange BTCUSD
BloFin BTC-USDT
dYdX BTC-USD
gTrade (Gains Network) BTC/USD
KuCoin XBTUSDTM
Bybit BTCUSDT
Aster BTCUSDT
BingX BTC-USDTShow all 55 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Phoenix BTC | +0.0075% | 1h | 86,147 | +0.043% | $2.2M | $8.5M | 40x | as long as short |
| Phemex BTCUSDT | +0.0085% | 8h | 86,088.3 | −0.025% | $167.6M | $495.5M | 150x | as long as short |
| SoDEX BTC-USD | +0.0088% | 1h | 86,086 | −0.028% | $60.2M | $257.8M | 40x | as long as short |
| Lighter BTC | +0.0096% | 1h | 86,039.7 | −0.082% | $172.5M | $867.8M | 50x | as long as short |
| Lighter RH BTC | +0.0096% | 1h | 86,051.1 | −0.069% | $23.5M | $121.2M | 50x | as long as short |
| Popdex BTCUSDT | +0.0096% | 1h | 86,009 | −0.117% | $8.5M | $52.3M | 100x | as long as short |
| Aevo BTC-PERP | +0.0096% | 1h | 86,074.1 | −0.042% | $2.4M | $6.7M | 20x | as long as short |
| Paradex BTC-USD-PERPshort | +0.0100% | 8h | 86,075.7 | −0.040% | $6.0M | $8.6M | 50x | |
| Katana Perps BTC-USD | +0.0100% | 8h | 85,988 | −0.142% | $229K | $8.2M | 50x | as long as short |
| Nado BTC-PERP | +0.0100% | 1h | 86,007.8 | −0.119% | $21.5M | $211.2M | 50x | as long as short |
| Hyperliquid BTC | +0.0100% | 1h | 86,088 | −0.026% | $3.86B | $4.76B | 40x | as long as short |
| Pacifica BTC | +0.0100% | 1h | 86,062 | −0.056% | $40.6M | $587.4M | 50x | as long as short |
| Binance BTCUSDT | +0.0100% | 8h | 86,000.4 | −0.127% | $9.47B | $23.02B | 150x | as long as short |
| OKX BTC-USDT-SWAP | +0.0100% | 8h | 85,977.3 | −0.154% | $2.61B | $10.70B | 100x | as long as short |
| Ondo Perps BTC-USD.P | +0.0100% | 1h | 86,028 | −0.095% | $4.0M | $16.4M | 25x | as long as short |
| Arcus BTC-USD | +0.0100% | 1h | 86,051.9 | −0.068% | $4.7M | $93.6M | 40x | as long as short |
| Gate BTC_USDT | +0.0100% | 8h | 86,005.8 | −0.121% | $5.47B | $9.04B | 200x | as long as short |
| MEXC BTC_USDT | +0.0100% | 8h | 86,005.6 | −0.121% | $5.12B | $5.27B | 500x | as long as short |
| Bitget BTCUSDT | +0.0100% | 8h | 85,999.8 | −0.128% | $2.98B | $4.53B | 150x | as long as short |
| Backpack BTC_USDC_PERP | +0.0100% | 1h | 86,068.6 | −0.048% | $36.9M | $189.3M | 75x | as long as short |
| Variational Omni BTC | +0.0100% | 8h | 86,123.1 | +0.015% | $158.4M | $509.2M | — | as long as short |
| edgeX BTCUSDC | +0.0100% | 4h | 86,149.5 | +0.046% | $290.2M | $980.0M | 100x | as long as short |
| GRVT BTC_USDT_Perp | +0.0100% | 8h | 86,189.5 | +0.092% | $216.5M | $141.9M | 50x | as long as short |
| ApeX Omni BTCUSDT | +0.0100% | 1h | 86,191.9 | +0.095% | $137.2M | $302.0M | 100x | as long as short |
| StandX BTC-USD | +0.0100% | 1h | 86,058.3 | −0.060% | $30.3M | $213.2M | 40x | as long as short |
| Vest BTC-PERP | +0.0100% | 1h | 86,098.4 | −0.014% | — | $10.6M | 50x | as long as short |
| Polymarket Perps BTC-USD | +0.0100% | 1h | 86,020 | −0.105% | $11.0M | $13.4M | 50x | as long as short |
| Bullet BTC-USD | +0.0100% | 1h | 86,001 | −0.127% | $205K | $3.3M | 20x | as long as short |
| Orderly PERP_BTC_USDC | +0.0100% | 8h | 85,989.1 | −0.141% | $2.6M | $9.4M | 100x | as long as short |
| Bluefin BTC-PERP | +0.0100% | 1h | 86,125.9 | +0.018% | $195K | $646K | 40x | as long as short |
| SunX BTC-USDT | +0.0100% | 8h | 86,092.5 | −0.020% | $3.2M | $7.0M | 100x | as long as short |
| HTX BTC-USDT | +0.0100% | 8h | 86,070.2 | −0.046% | $2.27B | $910.8M | 200x | as long as short |
| Bulk BTC-USD | +0.0100% | 1h | 85,993 | −0.136% | $711.2M | $175.6M | 40x | as long as short |
| Kraken Futures PF_XBTUSD | +0.0102% | 1h | 86,110.8 | +0.001% | $188.7M | $865.2M | 100x | as long as short |
| Extended BTC-USD | +0.0104% | 1h | 85,980.8 | −0.150% | $46.5M | $219.2M | 50x | as long as short |
| Jupiter Perps WBTC-PERP | L +0.0104% / S +0.0048% | 1h | 86,104.5 | −0.006% | — | $93.4M | 500x | as long as short |
| Coinbase International BTC-PERP-INTX | +0.0120% | 1h | 86,134.9 | +0.029% | $112.6M | $5.23B | 50x | as long as short |
| Reya BTCRUSDPERP | +0.0155% | 1h | 86,052.2 | −0.067% | $6.6M | $131.8M | 40x | as long as short |
| Kalshi KXBTCPERP | +0.0184% | 8h | 86,050 | −0.070% | $10.6M | $728.3M | 6.4x | as long as short |
| GMX BTC/USD [WBTC.b-USDC] | L +0.0199% / S −0.0183% | 1h | 86,019.5 | −0.105% | $13.2M | — | 200x | as long as short |
| RISEx BTC/USDC | +0.0204% | 1h | 86,037.6 | −0.084% | $8.9M | $40.1M | 25x | as long as short |
| Hibachi BTC/USDT-Plong | +0.0280% | 1h | 86,110.1 | long leg | $694K | $7.4M | 30x | |
| Deribit BTC-PERPETUAL | +0.0326% | 1h | 86,154.4 | +0.051% | $836.7M | $1.62B | 50x | as long as short |
| Aftermath Perps BTCUSD | +0.0417% | 1h | 86,136.8 | +0.031% | $80K | $253K | 20x | as long as short |
| Perpl BTC | +0.0447% | 43m | 86,021.5 | −0.103% | $489K | $16.4M | 6.7x | as long as short |
Phoenix BTC
Phemex BTCUSDT
SoDEX BTC-USD
Lighter BTC
Lighter RH BTC
Popdex BTCUSDT
Aevo BTC-PERP
Katana Perps BTC-USD
Nado BTC-PERP
Hyperliquid BTC
Pacifica BTC
Binance BTCUSDT
OKX BTC-USDT-SWAP
Ondo Perps BTC-USD.P
Arcus BTC-USD
Gate BTC_USDT
MEXC BTC_USDT
Bitget BTCUSDT
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
Bluefin BTC-PERP
SunX BTC-USDT
HTX BTC-USDT
Bulk BTC-USD
Kraken Futures PF_XBTUSD
Extended BTC-USD
Jupiter Perps WBTC-PERP
Coinbase International BTC-PERP-INTX
Reya BTCRUSDPERP
Kalshi KXBTCPERP
GMX BTC/USD [WBTC.b-USDC]
RISEx BTC/USDC
Deribit BTC-PERPETUAL
Aftermath Perps BTCUSD
Perpl BTC