Funding you earn now, next payment 02:00 UTC−0.0028%/8h= −3.1% APRnext payment −$0.04 per $10,000 · paid last 24h −0.034%
Price spread now: Polymarket Perps against Hibachi−0.303%7-day average −0.049% · you buy dearer than you sell
Net, funding: paid 7d − costs−$46as in the Funding arb table
Net, price: spread back to 7d avg − costs−$43as in the Price arb table
costs, in and out, $10k−$180.180% of the position
Funding, last 7 days−0.283%−$28 on $10k
+Price spread, last 7 days+0.259%+$26 · spread now −0.303%, 7d avg −0.049%
=Together, before fees−0.024%+ Points / potential airdropHibachi: Active · farm board−$2 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Polymarket Perps is 0.254% cheaper against Hibachi than usual: you would sell low and buy high (−$25 if the spread goes back to its 7-day average of −0.049%). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Hibachi BTC/USDT-P | 85,679.8 | 0.0128 | pay 0.0016% / 1h | 39m 40s | $707K | $7.9M | 30x |
| Short | Polymarket Perps BTC-USD | 85,420 | 0.0100 | get 0.0013% / 1h | 39m 40s | $11.0M | $14.3M | 50x |
Hibachi BTC/USDT-P
Polymarket Perps BTC-USDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Polymarket 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 itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$5.88
- Price spread: −0.303% → −0.049%
- −$25.41
- Slippage, 4 orders
- −$0.98
- Fee Hibachi: 4.5 bp × 2 orders
- −$9
- Fee Polymarket Perps: 4 bp × 2 orders
- −$8
- Net
- −$49.27
- Costs to cover
- 0.180%
- Break-even
- never at this rate
Slippage from Hibachi: live order book, 4 min ago; Polymarket Perps: live order book, 5 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 | 4.9 bp −$5 | 5.1 bp −$51 | 34.8 bp −$3,485 | doesn't fit |
| Sell Polymarket Perps live order book, 5 min ago | 0.06 bp | 4.1 bp −$4 | 4.8 bp −$48 | 6.8 bp −$682 | 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 | −0.0144% | 1h | 85,678 | −0.002% | $2.2M | $10.5M | 40x | as long as short |
| Hotstuff BTC-PERP | −0.0080% | 1h | 85,478 | −0.236% | $8K | $3K | 50x | as long as short |
| BloFin BTC-USDT | −0.0078% | 8h | 85,853 | +0.202% | $415.8M | $658.2M | 150x | as long as short |
| 01 Exchange BTCUSD | −0.0056% | 1h | 85,422.1 | −0.301% | $363K | $2.3M | 50x | as long as short |
| dYdX BTC-USD | 0.0000% | 1h | 85,542 | −0.161% | $16.7M | $21.0M | 50x | as long as short |
| Perpl BTC | 0.0000% | 43m | 85,416 | −0.308% | $523K | $21.3M | 6.7x | as long as short |
| gTrade (Gains Network) BTC/USD | L +0.0004% / S −0.0004% | 1h | 85,458.2 | −0.259% | $36.5M | — | 200x | as long as short |
| Injective BTC/USDC PERP | +0.0020% | 1h | 85,810 | +0.152% | $341K | $26.9M | 52x | as long as short |
| Aster BTCUSDT | +0.0032% | 8h | 85,526 | −0.180% | $496.1M | $1.14B | 200x | as long as short |
| KuCoin XBTUSDTM | +0.0038% | 8h | 85,532.9 | −0.171% | $890.8M | $757.5M | 125x | as long as short |
Phoenix BTC
Hotstuff BTC-PERP
BloFin BTC-USDT
01 Exchange BTCUSD
dYdX BTC-USD
Perpl BTC
gTrade (Gains Network) BTC/USD
Injective BTC/USDC PERP
Aster BTCUSDT
KuCoin XBTUSDTMShow all 56 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| RISEx BTC/USDC | +0.0044% | 1h | 85,550.8 | −0.151% | $7.9M | $42.7M | 25x | as long as short |
| BingX BTC-USDC | +0.0054% | 8h | 85,543.2 | −0.159% | — | $15.4M | — | as long as short |
| Reya BTCRUSDPERP | +0.0054% | 1h | 85,412.3 | −0.312% | $6.7M | $146.1M | 40x | as long as short |
| HTX BTC-USDT | +0.0060% | 8h | 85,524.6 | −0.181% | $2.27B | $973.2M | 200x | as long as short |
| Gate BTC_USDT | +0.0068% | 8h | 85,541.3 | −0.162% | $5.60B | $10.43B | 200x | as long as short |
| Bitget BTCUSDT | +0.0068% | 8h | 85,546.7 | −0.155% | $2.94B | $5.17B | 150x | as long as short |
| Nado BTC-PERP | +0.0084% | 1h | 85,425.3 | −0.297% | $22.6M | $230.1M | 50x | as long as short |
| MEXC BTC_USDT | +0.0086% | 8h | 85,561.1 | −0.139% | $5.06B | $5.70B | 500x | as long as short |
| Binance BTCUSDT | +0.0087% | 8h | 85,561.1 | −0.139% | $9.31B | $24.70B | 150x | as long as short |
| Aevo BTC-PERP | +0.0088% | 1h | 85,473.1 | −0.241% | $2.4M | $1.8M | 20x | as long as short |
| Lighter BTC | +0.0096% | 1h | 85,553.7 | −0.147% | $169.1M | $983.6M | 50x | as long as short |
| Lighter RH BTC | +0.0096% | 1h | 85,555.7 | −0.145% | $23.1M | $145.7M | 50x | as long as short |
| Popdex BTCUSDT | +0.0096% | 1h | 85,426 | −0.296% | $8.3M | $52.5M | 100x | as long as short |
| Katana Perps BTC-USD | +0.0100% | 8h | 85,419 | −0.304% | $209K | $7.5M | 50x | as long as short |
| Paradex BTC-USD-PERP | +0.0100% | 8h | 85,587.5 | −0.108% | $3.8M | $8.6M | 50x | as long as short |
| Hyperliquid BTC | +0.0100% | 1h | 85,607 | −0.085% | $3.76B | $4.98B | 40x | as long as short |
| Pacifica BTC | +0.0100% | 1h | 85,581.3 | −0.115% | $40.7M | $569.7M | 50x | as long as short |
| Bybit BTCUSDT | +0.0100% | 8h | 85,568.8 | −0.130% | $5.27B | $9.89B | 150x | as long as short |
| OKX BTC-USDT-SWAP | +0.0100% | 8h | 85,555.1 | −0.146% | $2.52B | $12.57B | 100x | as long as short |
| Ondo Perps BTC-USD.P | +0.0100% | 1h | 85,535 | −0.169% | $3.9M | $17.9M | 25x | as long as short |
| Arcus BTC-USD | +0.0100% | 1h | 85,523.5 | −0.182% | $7.3M | $98.5M | 40x | as long as short |
| Backpack BTC_USDC_PERP | +0.0100% | 1h | 85,506.5 | −0.202% | $35.0M | $163.6M | 75x | as long as short |
| Variational Omni BTC | +0.0100% | 8h | 85,634.2 | −0.053% | $157.4M | $554.3M | — | as long as short |
| edgeX BTCUSDC | +0.0100% | 4h | 85,806 | +0.147% | $278.1M | $938.4M | 100x | as long as short |
| GRVT BTC_USDT_Perp | +0.0100% | 8h | 85,740.2 | +0.071% | $215.2M | $164.7M | 50x | as long as short |
| ApeX Omni BTCUSDT | +0.0100% | 1h | 85,842.7 | +0.190% | $140.4M | $321.1M | 100x | as long as short |
| StandX BTC-USD | +0.0100% | 1h | 85,689 | +0.011% | $30.3M | $208.0M | 40x | as long as short |
| Vest BTC-PERP | +0.0100% | 1h | 85,526.4 | −0.179% | — | $11.8M | 50x | as long as short |
| Polymarket Perps BTC-USDshort | +0.0100% | 1h | 85,420 | −0.303% | $11.0M | $14.3M | 50x | |
| Bullet BTC-USD | +0.0100% | 1h | 85,436 | −0.285% | $192K | $3.3M | 20x | as long as short |
| Orderly PERP_BTC_USDC | +0.0100% | 8h | 85,473.1 | −0.241% | $2.4M | $9.1M | 100x | as long as short |
| Bluefin BTC-PERP | +0.0100% | 1h | 85,516.1 | −0.191% | $186K | $709K | 40x | as long as short |
| Derive BTC-PERP | +0.0100% | 1h | 85,503.2 | −0.206% | $29.9M | $57.4M | 15x | as long as short |
| SunX BTC-USDT | +0.0100% | 8h | 85,484.6 | −0.228% | $2.9M | $6.6M | 100x | as long as short |
| SoDEX BTC-USD | +0.0100% | 1h | 85,505 | −0.204% | $59.8M | $337.8M | 40x | as long as short |
| Phemex BTCUSDT | +0.0100% | 8h | 85,536 | −0.168% | $153.7M | $481.2M | 150x | as long as short |
| Bulk BTC-USD | +0.0100% | 1h | 85,804.9 | +0.146% | $582.3M | $118.5M | 40x | as long as short |
| Extended BTC-USD | +0.0104% | 1h | 85,497.6 | −0.213% | $44.8M | $228.0M | 50x | as long as short |
| Jupiter Perps WBTC-PERP | L +0.0104% / S +0.0056% | 1h | 85,591.9 | −0.103% | — | $102.3M | 500x | as long as short |
| Coinbase International BTC-PERP-INTX | +0.0112% | 1h | 85,571.5 | −0.126% | $130.5M | $5.26B | 50x | as long as short |
| Hibachi BTC/USDT-Plong | +0.0128% | 1h | 85,679.8 | long leg | $707K | $7.9M | 30x | |
| Aftermath Perps BTCUSD | +0.0146% | 1h | 85,731.5 | +0.060% | $78K | $219K | 20x | as long as short |
| Kraken Futures PF_XBTUSD | +0.0146% | 1h | 85,565.3 | −0.134% | $187.6M | $974.0M | 100x | as long as short |
| Deribit BTC-PERPETUAL | +0.0169% | 1h | 85,556.5 | −0.144% | $893.5M | $1.55B | 50x | as long as short |
| GMX BTC/USD [WBTC.b-USDC] | L +0.0204% / S −0.0192% | 1h | 85,442.1 | −0.277% | $13.6M | — | 200x | as long as short |
| Kalshi KXBTCPERP | +0.0206% | 8h | 85,508 | −0.201% | $10.0M | $771.4M | 6.4x | as long as short |
RISEx BTC/USDC
BingX BTC-USDC
Reya BTCRUSDPERP
HTX BTC-USDT
Gate BTC_USDT
Bitget BTCUSDT
Nado BTC-PERP
MEXC BTC_USDT
Binance BTCUSDT
Aevo BTC-PERP
Lighter BTC
Lighter RH BTC
Popdex BTCUSDT
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
Backpack BTC_USDC_PERP
Variational Omni BTC
edgeX BTCUSDC
GRVT BTC_USDT_Perp
ApeX Omni BTCUSDT
StandX BTC-USD
Vest BTC-PERP
Bullet BTC-USD
Orderly PERP_BTC_USDC
Bluefin BTC-PERP
Derive BTC-PERP
SunX BTC-USDT
SoDEX BTC-USD
Phemex BTCUSDT
Bulk BTC-USD
Extended BTC-USD
Jupiter Perps WBTC-PERP
Coinbase International BTC-PERP-INTX
Aftermath Perps BTCUSD
Kraken Futures PF_XBTUSD
Deribit BTC-PERPETUAL
GMX BTC/USD [WBTC.b-USDC]
Kalshi KXBTCPERP