BTC

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0167%/8h= +18.2% APRnext payment +$0.21 per $10,000 · paid last 24h +0.050%

Price spread now: Hibachi against Injective+0.361%53s7-day average +0.022% · you sell dearer than you buy

Net, funding: paid 7d − costs+$20as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$150.146% of the position

Long on Injective Short on Hibachi

What this pair did over the last

the charts below follow

Funding, last 7 days+0.342%+$34 on $10k

Price spread, last 4 days (all we have)−0.300%−$30 · spread now +0.361%, 7d avg +0.022%

Together, before fees+0.042%+ Points / potential airdropHibachi: Active · farm board+$4 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$5 a day on $10k at the current rate, and Hibachi is 0.339% dearer against Injective than usual: you sell high and buy low: +$34 more if the spread goes back to its 7-day average of +0.022%. The two prices were read 53 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	Injective BTC/USDC PERP	85,247	0.0057	pay 0.0007% / 1h	15m 55s	$338K	$26.8M	52x
Short	Hibachi BTC/USDT-P	85,555.1	0.0224	get 0.0028% / 1h	15m 55s	$686K	$7.8M	30x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

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

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

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 InjectivebpFee HibachibpOrdersPrice spread, now +0.361%Rate

Funding earned: $34.97
Price spread: +0.361% → +0.022%: $33.93
Slippage, 4 orders: −$5.62
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Hibachi: 4.5 bp × 2 orders: −$9
Net: $54.26
Costs to cover: 0.146%
Break-even: from the start

Slippage from Injective: live order book, 3 min ago; Hibachi: 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 Injective live order book, 3 min ago	2.22 bp	2.2 bp −$2	12.0 bp −$120	doesn't fit	doesn't fit
Sell Hibachi live order book, 3 min ago	0.01 bp	4.7 bp −$5	4.8 bp −$48	43.0 bp −$4,300	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
Phoenix BTC	−0.0082%	1h	85,513	+0.312%	$2.2M	$10.4M	40x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	85,505	+0.303%	$8K	$3K	50x	as long as short
KuCoin XBTUSDTM	−0.0038%	8h	85,483.4	+0.277%	$929.3M	$775.4M	125x	as long as short
BloFin BTC-USDT	−0.0022%	8h	85,517.2	+0.317%	$420.1M	$682.9M	150x	as long as short
Aster BTCUSDT	−0.0003%	8h	85,477.6	+0.271%	$513.4M	$1.09B	200x	as long as short
01 Exchange BTCUSD	0.0000%	1h	85,491.8	+0.287%	$353K	$2.4M	50x	as long as short
Perpl BTC	0.0000%	43m	85,492.4	+0.288%	$490K	$18.4M	6.7x	as long as short
Deribit BTC-PERPETUAL	0.0000%	1h	85,508.1	+0.306%	$861.4M	$1.63B	50x	as long as short
dYdX BTC-USD	+0.0001%	1h	85,517.7	+0.318%	$16.8M	$21.2M	50x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0004% / S −0.0004%	1h	85,530.2	+0.332%	$36.6M	—	200x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado BTC-PERP	+0.0043%	1h	85,516.5	+0.316%	$24.3M	$222.6M	50x	as long as short
Popdex BTCUSDT	+0.0056%	1h	85,513	+0.312%	$8.4M	$56.7M	100x	as long as short
Injective BTC/USDC PERPlong	+0.0057%	1h	85,247	long leg	$338K	$26.8M	52x
BingX BTC-USDC	+0.0073%	8h	85,460.9	+0.251%	—	$17.5M	—	as long as short
Kraken Futures PF_XBTUSD	+0.0089%	1h	85,489.5	+0.284%	$186.1M	$959.0M	100x	as long as short
Bitget BTCUSDT	+0.0091%	8h	85,479.1	+0.272%	$2.97B	$5.17B	150x	as long as short
Lighter BTC	+0.0096%	1h	85,495.5	+0.292%	$170.2M	$1.03B	50x	as long as short
Lighter RH BTC	+0.0096%	1h	85,492.6	+0.288%	$23.5M	$148.4M	50x	as long as short
Aevo BTC-PERP	+0.0096%	1h	85,471.1	+0.263%	$2.4M	$6.7M	20x	as long as short
MEXC BTC_USDT	+0.0097%	8h	85,484.8	+0.279%	$5.03B	$5.77B	500x	as long as short
Binance BTCUSDT	+0.0098%	8h	85,478.6	+0.272%	$9.43B	$25.00B	150x	as long as short
Bybit BTCUSDT	+0.0098%	8h	85,470	+0.262%	$5.15B	$10.00B	150x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	85,465	+0.256%	$243K	$8.7M	50x	as long as short
Paradex BTC-USD-PERP	+0.0100%	8h	85,568.3	+0.377%	$5.8M	$9.6M	50x	as long as short
Hyperliquid BTC	+0.0100%	1h	85,562	+0.370%	$3.75B	$5.08B	40x	as long as short
Pacifica BTC	+0.0100%	1h	85,526	+0.327%	$40.1M	$603.8M	50x	as long as short
OKX BTC-USDT-SWAP	+0.0100%	8h	85,479.2	+0.272%	$2.60B	$12.26B	100x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	85,463	+0.253%	$3.8M	$17.1M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	85,472.1	+0.264%	$5.1M	$97.4M	40x	as long as short
Bulk BTC-USD	+0.0100%	1h	85,499.5	+0.296%	$686.3M	$379.3M	40x	as long as short
Gate BTC_USDT	+0.0100%	8h	85,484.2	+0.278%	$5.56B	$11.06B	200x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	85,469.4	+0.261%	$37.2M	$179.4M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	85,463.4	+0.254%	$155.5M	$557.6M	—	as long as short
edgeX BTCUSDC	+0.0100%	4h	85,506.8	+0.305%	$280.1M	$952.9M	100x	as long as short
GRVT BTC_USDT_Perp	+0.0100%	8h	85,525	+0.326%	$214.7M	$164.4M	50x	as long as short
ApeX Omni BTCUSDT	+0.0100%	1h	85,499.2	+0.296%	$139.8M	$313.4M	100x	as long as short
StandX BTC-USD	+0.0100%	1h	85,511.6	+0.310%	$30.1M	$206.2M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	85,558.6	+0.365%	—	$10.7M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	85,482	+0.276%	$11.0M	$14.6M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	85,482	+0.276%	$200K	$3.3M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	85,477.8	+0.271%	$2.6M	$9.7M	100x	as long as short
Bluefin BTC-PERP	+0.0100%	1h	85,521.2	+0.322%	$194K	$796K	40x	as long as short
SunX BTC-USDT	+0.0100%	8h	85,473.3	+0.265%	$2.9M	$6.1M	100x	as long as short
SoDEX BTC-USD	+0.0100%	1h	85,477	+0.270%	$59.8M	$336.7M	40x	as long as short
HTX BTC-USDT	+0.0100%	8h	85,480	+0.273%	$2.26B	$966.4M	200x	as long as short
Phemex BTCUSDT	+0.0100%	8h	85,486.9	+0.281%	$154.5M	$512.2M	150x	as long as short
Extended BTC-USD	+0.0104%	1h	85,452.5	+0.241%	$44.9M	$240.7M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0056%	1h	85,526.3	+0.328%	—	$104.8M	500x	as long as short
Coinbase International BTC-PERP-INTX	+0.0104%	1h	85,515.6	+0.315%	$114.3M	$5.50B	50x	as long as short
Reya BTCRUSDPERP	+0.0131%	1h	85,513	+0.312%	$6.6M	$147.7M	40x	as long as short
Kalshi KXBTCPERP	+0.0183%	8h	85,499	+0.296%	$12.0M	$741.7M	6.4x	as long as short
RISEx BTC/USDC	+0.0193%	1h	85,506.3	+0.304%	$8.8M	$42.7M	25x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0200% / S −0.0176%	1h	85,490.1	+0.285%	$13.1M	—	200x	as long as short
Hibachi BTC/USDT-Pshort	+0.0224%	1h	85,555.1	+0.361%	$686K	$7.8M	30x
Aftermath Perps BTCUSD	+0.0249%	1h	85,521	+0.321%	$79K	$230K	20x	as long as short