Funding you earn now, next payment 05:00 UTC+0.0064%/8h= +7.0% APRpaid last 24h +0.039%
Price spread now: Hibachi against Kalshi+0.041%7-day average +0.041% · you sell dearer than you buy
Net, funding: paid 7d − costs+$13as in the Funding arb table
Net, price: spread back to 7d avg − costs−$20as in the Price arb table
costs, in and out, $10k−$200.202% of the position
Funding, last 7 days+0.329%+$33 on $10k
+Price spread, last 7 days−0.031%−$3 · spread now +0.041%, 7d avg +0.041%
=Together, before fees+0.299%+ Points / potential airdropHibachi: Active · farm board+$30 on $10k · with fees, hour by hour
The price spread sits at its 7-day average of +0.041%, so right now this pair is about funding alone: +$2 a day on $10k at the current rate.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Kalshi KXBTCPERP | 85,489 | 0.0160 | pay 0.0160% / 8h | 7h 03m | $11.4M | $751.8M | 6.4x |
| Short | Hibachi BTC/USDT-P | 85,524.1 | 0.0224 | get 0.0028% / 1h | 3m 07s | $701K | $7.9M | 30x |
Kalshi KXBTCPERP
Hibachi BTC/USDT-PFunding history
latest
Range statsloading…
Price spread between the two exchanges
Hibachi against Kalshi. 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
- $13.42
- Price spread: +0.041% → +0.041%
- −$0.01
- Slippage, 4 orders
- −$1.23
- Fee Kalshi: 5 bp × 2 orders
- −$10
- Fee Hibachi: 4.5 bp × 2 orders
- −$9
- Net
- −$6.81
- Costs to cover
- 0.202%
- Break-even
- 10.6 days
Slippage from Kalshi: live order book, 1 min ago; Hibachi: live order book, 1 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 Kalshi live order book, 1 min ago | 0.12 bp | 5.3 bp −$5 | 6.0 bp −$60 | 7.3 bp −$734 | 12.9 bp −$6,431 |
| Sell Hibachi live order book, 1 min ago | 0.01 bp | 5.2 bp −$5 | 5.6 bp −$56 | 43.9 bp −$4,388 | 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 | −0.0140% | 1h | 85,470 | −0.022% | $2.1M | $10.4M | 40x | as long as short |
| Hotstuff BTC-PERP | −0.0080% | 1h | 85,505 | +0.019% | $8K | $3K | 50x | as long as short |
| KuCoin XBTUSDTM | −0.0050% | 8h | 85,402.3 | −0.101% | $919.5M | $758.1M | 125x | as long as short |
| BloFin BTC-USDT | −0.0031% | 8h | 85,404.2 | −0.099% | $419.8M | $675.8M | 150x | as long as short |
| Aster BTCUSDT | −0.0011% | 8h | 85,402.1 | −0.102% | $514.1M | $1.10B | 200x | as long as short |
| 01 Exchange BTCUSD | −0.0008% | 1h | 85,407.2 | −0.096% | $382K | $2.3M | 50x | as long as short |
| Perpl BTC | 0.0000% | 43m | 85,444.9 | −0.052% | $540K | $18.7M | 6.7x | as long as short |
| gTrade (Gains Network) BTC/USD | L +0.0004% / S −0.0004% | 1h | 85,425.5 | −0.074% | $36.5M | — | 200x | as long as short |
| Nado BTC-PERP | +0.0005% | 1h | 85,403.4 | −0.100% | $24.3M | $223.0M | 50x | as long as short |
| dYdX BTC-USD | +0.0025% | 1h | 85,448.7 | −0.047% | $16.8M | $21.2M | 50x | as long as short |
Phoenix BTC
Hotstuff BTC-PERP
KuCoin XBTUSDTM
BloFin BTC-USDT
Aster BTCUSDT
01 Exchange BTCUSD
Perpl BTC
gTrade (Gains Network) BTC/USD
Nado BTC-PERP
dYdX BTC-USDShow all 56 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Injective BTC/USDC PERP | +0.0044% | 1h | 85,552 | +0.074% | $340K | $26.9M | 52x | as long as short |
| SoDEX BTC-USD | +0.0049% | 1h | 85,404 | −0.099% | $59.8M | $335.9M | 40x | as long as short |
| Deribit BTC-PERPETUAL | +0.0055% | 1h | 85,440.9 | −0.056% | $872.3M | $1.60B | 50x | as long as short |
| BingX BTC-USDC | +0.0063% | 8h | 85,385.6 | −0.121% | — | $17.1M | — | as long as short |
| Phemex BTCUSDT | +0.0066% | 8h | 85,402.7 | −0.101% | $148.9M | $498.5M | 150x | as long as short |
| Bitget BTCUSDT | +0.0079% | 8h | 85,407 | −0.096% | $2.95B | $5.13B | 150x | as long as short |
| Aevo BTC-PERP | +0.0088% | 1h | 85,400.4 | −0.104% | $2.7M | $5.1M | 20x | as long as short |
| MEXC BTC_USDT | +0.0089% | 8h | 85,404.4 | −0.099% | $5.06B | $5.69B | 500x | as long as short |
| Binance BTCUSDT | +0.0089% | 8h | 85,404.1 | −0.099% | $9.45B | $24.50B | 150x | as long as short |
| Lighter BTC | +0.0096% | 1h | 85,414.9 | −0.087% | $171.7M | $1.02B | 50x | as long as short |
| Lighter RH BTC | +0.0096% | 1h | 85,421 | −0.080% | $23.9M | $149.4M | 50x | as long as short |
| Popdex BTCUSDT | +0.0096% | 1h | 85,414 | −0.088% | $8.4M | $55.2M | 100x | as long as short |
| Bullet BTC-USD | +0.0098% | 1h | 85,405.8 | −0.097% | $204K | $3.3M | 20x | as long as short |
| Katana Perps BTC-USD | +0.0100% | 8h | 85,392 | −0.113% | $226K | $8.4M | 50x | as long as short |
| Paradex BTC-USD-PERP | +0.0100% | 8h | 85,454.4 | −0.040% | $5.7M | $9.4M | 50x | as long as short |
| Hyperliquid BTC | +0.0100% | 1h | 85,486 | −0.004% | $3.78B | $5.03B | 40x | as long as short |
| Pacifica BTC | +0.0100% | 1h | 85,454.9 | −0.040% | $40.4M | $590.4M | 50x | as long as short |
| Bybit BTCUSDT | +0.0100% | 8h | 85,403.5 | −0.100% | $5.18B | $9.87B | 150x | as long as short |
| OKX BTC-USDT-SWAP | +0.0100% | 8h | 85,419.7 | −0.081% | $2.59B | $12.11B | 100x | as long as short |
| Ondo Perps BTC-USD.P | +0.0100% | 1h | 85,399 | −0.105% | $3.8M | $17.6M | 25x | as long as short |
| Arcus BTC-USD | +0.0100% | 1h | 85,406.8 | −0.096% | $4.7M | $99.2M | 40x | as long as short |
| Bulk BTC-USD | +0.0100% | 1h | 85,455.5 | −0.039% | $679.5M | $683.6M | 40x | as long as short |
| Gate BTC_USDT | +0.0100% | 8h | 85,408 | −0.095% | $5.52B | $10.87B | 200x | as long as short |
| Backpack BTC_USDC_PERP | +0.0100% | 1h | 85,393.3 | −0.112% | $36.5M | $177.5M | 75x | as long as short |
| Variational Omni BTC | +0.0100% | 8h | 85,465 | −0.028% | $154.3M | $564.7M | — | as long as short |
| edgeX BTCUSDC | +0.0100% | 4h | 85,462 | −0.032% | $279.2M | $932.3M | 100x | as long as short |
| GRVT BTC_USDT_Perp | +0.0100% | 8h | 85,483.8 | −0.006% | $214.6M | $169.0M | 50x | as long as short |
| ApeX Omni BTCUSDT | +0.0100% | 1h | 85,478.8 | −0.012% | $139.7M | $316.3M | 100x | as long as short |
| StandX BTC-USD | +0.0100% | 1h | 85,483.8 | −0.006% | $30.2M | $206.5M | 40x | as long as short |
| Vest BTC-PERP | +0.0100% | 1h | 85,493.4 | +0.005% | — | $10.9M | 50x | as long as short |
| Polymarket Perps BTC-USD | +0.0100% | 1h | 85,409 | −0.094% | $11.1M | $14.3M | 50x | as long as short |
| Orderly PERP_BTC_USDC | +0.0100% | 8h | 85,398.1 | −0.106% | $2.5M | $8.8M | 100x | as long as short |
| Bluefin BTC-PERP | +0.0100% | 1h | 85,443.4 | −0.053% | $206K | $737K | 40x | as long as short |
| Derive BTC-PERP | +0.0100% | 1h | 85,387.7 | −0.118% | $30.0M | $50.4M | 15x | as long as short |
| SunX BTC-USDT | +0.0100% | 8h | 85,383.3 | −0.124% | $2.9M | $6.1M | 100x | as long as short |
| HTX BTC-USDT | +0.0100% | 8h | 85,400.1 | −0.104% | $2.26B | $949.1M | 200x | as long as short |
| Extended BTC-USD | +0.0104% | 1h | 85,376 | −0.132% | $45.7M | $234.4M | 50x | as long as short |
| Jupiter Perps WBTC-PERP | L +0.0104% / S +0.0048% | 1h | 85,510.8 | +0.026% | — | $106.6M | 500x | as long as short |
| Coinbase International BTC-PERP-INTX | +0.0104% | 1h | 85,438.4 | −0.059% | $117.9M | $5.27B | 50x | as long as short |
| Reya BTCRUSDPERP | +0.0106% | 1h | 85,402.3 | −0.101% | $6.6M | $147.2M | 40x | as long as short |
| Kraken Futures PF_XBTUSD | +0.0135% | 1h | 85,420.2 | −0.080% | $187.7M | $956.7M | 100x | as long as short |
| Kalshi KXBTCPERPlong | +0.0160% | 8h | 85,489 | long leg | $11.4M | $751.8M | 6.4x | |
| RISEx BTC/USDC | +0.0174% | 1h | 85,444.8 | −0.052% | $8.7M | $42.9M | 25x | as long as short |
| GMX BTC/USD [WBTC.b-USDC] | L +0.0176% / S −0.0151% | 1h | 85,421.1 | −0.079% | $13.0M | — | 200x | as long as short |
| Hibachi BTC/USDT-Pshort | +0.0224% | 1h | 85,524.1 | +0.041% | $701K | $7.9M | 30x | |
| Aftermath Perps BTCUSD | +0.0246% | 1h | 85,485.6 | −0.004% | $79K | $223K | 20x | as long as short |
Injective BTC/USDC PERP
SoDEX BTC-USD
Deribit BTC-PERPETUAL
BingX BTC-USDC
Phemex BTCUSDT
Bitget BTCUSDT
Aevo BTC-PERP
MEXC BTC_USDT
Binance BTCUSDT
Lighter BTC
Lighter RH BTC
Popdex BTCUSDT
Bullet BTC-USD
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
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
Orderly PERP_BTC_USDC
Bluefin BTC-PERP
Derive BTC-PERP
SunX BTC-USDT
HTX BTC-USDT
Extended BTC-USD
Jupiter Perps WBTC-PERP
Coinbase International BTC-PERP-INTX
Reya BTCRUSDPERP
Kraken Futures PF_XBTUSD
RISEx BTC/USDC
GMX BTC/USD [WBTC.b-USDC]
Aftermath Perps BTCUSD