Funding you earn now, next payment 07:00 UTC+0.0140%/8h= +15.3% APRpaid last 24h +0.030%
Price spread now: Hibachi against Orderly+0.021%7-day average +0.041% · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 7 days+0.288%+$29 on $10k
+Price spread, last 4 days (all we have)+0.022%+$2 · spread now +0.021%, 7d avg +0.041%
=Together, before fees+0.310%+ Points / potential airdropHibachi: Active · farm board+$31 on $10k · with fees, hour by hour
Funding pays, the price is against you. Hibachi is 0.021% cheaper against Orderly than usual: you would sell low and buy high (spread +0.021% now, against its 7-day average of +0.041%). If the spread goes back, that is −$2 on $10k: about 12 hours of funding at the current rate (+$4 a day).
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Orderly PERP_BTC_USDC | 85,309.9 | 0.0100 | pay 0.0100% / 8h | 1h 43m | $2.6M | $9.9M | 100x |
| Short | Hibachi BTC/USDT-P | 85,327.4 | 0.0240 | get 0.0030% / 1h | 43m 58s | $689K | $8.0M | 30x |
Orderly PERP_BTC_USDC
Hibachi BTC/USDT-PFunding history
latest
Range statsloading…
Price spread between the two exchanges
Hibachi against Orderly. 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
- $29.4
- Price spread: +0.021% → +0.041%
- −$2.08
- Slippage, 4 orders
- no order book: not counted
- Fee Orderly: 3 bp × 2 orders
- −$6
- Fee Hibachi: 4.5 bp × 2 orders
- −$9
- Net
- $12.32
- Costs to cover
- 0.150%
- Break-even
- 4.1 days
Slippage unknown: Orderly: no order-book sample; Hibachi: live order book, 5 min ago. 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 Orderly no order-book sample | — | — | — | — | — |
| Sell Hibachi live order book, 5 min ago | 0.01 bp | 4.5 bp −$5 | 4.7 bp −$47 | 42.6 bp −$4,259 | doesn't fit |
Orderly: 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 | 85,262 | −0.056% | $2.1M | $10.4M | 40x | as long as short |
| Hotstuff BTC-PERP | −0.0080% | 1h | 85,279 | −0.036% | $8K | $3K | 50x | as long as short |
| KuCoin XBTUSDTM | −0.0047% | 8h | 85,290.6 | −0.023% | $928.4M | $773.5M | 125x | as long as short |
| BloFin BTC-USDT | −0.0027% | 8h | 85,340.8 | +0.036% | $421.7M | $684.3M | 150x | as long as short |
| Aster BTCUSDT | −0.0012% | 8h | 85,291.1 | −0.022% | $512.6M | $1.09B | 200x | as long as short |
| dYdX BTC-USD | 0.0000% | 1h | 85,322.4 | +0.015% | $16.7M | $21.5M | 50x | as long as short |
| 01 Exchange BTCUSD | 0.0000% | 1h | 85,354.3 | +0.052% | $355K | $2.4M | 50x | as long as short |
| Perpl BTC | 0.0000% | 43m | 85,348 | +0.045% | $535K | $18.3M | 6.7x | as long as short |
| gTrade (Gains Network) BTC/USD | L +0.0004% / S −0.0004% | 1h | 85,340.2 | +0.036% | $36.5M | — | 200x | as long as short |
| Deribit BTC-PERPETUAL | +0.0012% | 1h | 85,344.3 | +0.040% | $867.9M | $1.64B | 50x | as long as short |
Phoenix BTC
Hotstuff BTC-PERP
KuCoin XBTUSDTM
BloFin BTC-USDT
Aster BTCUSDT
dYdX BTC-USD
01 Exchange BTCUSD
Perpl BTC
gTrade (Gains Network) BTC/USD
Deribit BTC-PERPETUALShow all 56 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Nado BTC-PERP | +0.0040% | 1h | 85,315 | +0.006% | $24.4M | $222.7M | 50x | as long as short |
| Injective BTC/USDC PERP | +0.0057% | 1h | 85,405 | +0.111% | $339K | $26.8M | 52x | as long as short |
| ApeX Omni BTCUSDT | +0.0068% | 1h | 85,268.8 | −0.048% | $139.4M | $314.4M | 100x | as long as short |
| BingX BTC-USDC | +0.0070% | 8h | 85,283.7 | −0.031% | — | $17.5M | — | as long as short |
| Bitget BTCUSDT | +0.0088% | 8h | 85,291.7 | −0.021% | $2.96B | $5.19B | 150x | as long as short |
| Kraken Futures PF_XBTUSD | +0.0089% | 1h | 85,321.4 | +0.013% | $186.7M | $956.5M | 100x | as long as short |
| Binance BTCUSDT | +0.0093% | 8h | 85,303.1 | −0.008% | $9.43B | $25.00B | 150x | as long as short |
| MEXC BTC_USDT | +0.0093% | 8h | 85,290.6 | −0.023% | $5.01B | $5.74B | 500x | as long as short |
| SoDEX BTC-USD | +0.0094% | 1h | 85,303 | −0.008% | $59.7M | $336.9M | 40x | as long as short |
| Lighter BTC | +0.0096% | 1h | 85,320.3 | +0.012% | $170.0M | $1.02B | 50x | as long as short |
| Lighter RH BTC | +0.0096% | 1h | 85,323.3 | +0.016% | $23.6M | $147.7M | 50x | as long as short |
| Popdex BTCUSDT | +0.0096% | 1h | 85,338 | +0.033% | $8.4M | $56.0M | 100x | as long as short |
| Aevo BTC-PERP | +0.0096% | 1h | 85,300.2 | −0.011% | $2.4M | $6.7M | 20x | as long as short |
| Phemex BTCUSDT | +0.0098% | 8h | 85,313.5 | +0.004% | $150.5M | $508.7M | 150x | as long as short |
| Katana Perps BTC-USD | +0.0100% | 8h | 85,320 | +0.012% | $238K | $8.6M | 50x | as long as short |
| Paradex BTC-USD-PERP | +0.0100% | 8h | 85,386 | +0.089% | $5.8M | $9.6M | 50x | as long as short |
| Hyperliquid BTC | +0.0100% | 1h | 85,384 | +0.087% | $3.74B | $5.09B | 40x | as long as short |
| Pacifica BTC | +0.0100% | 1h | 85,360.6 | +0.059% | $40.0M | $602.6M | 50x | as long as short |
| Bybit BTCUSDT | +0.0100% | 8h | 85,293.7 | −0.019% | $5.14B | $10.01B | 150x | as long as short |
| OKX BTC-USDT-SWAP | +0.0100% | 8h | 85,300 | −0.012% | $2.59B | $12.28B | 100x | as long as short |
| Ondo Perps BTC-USD.P | +0.0100% | 1h | 85,330 | +0.024% | $3.8M | $17.1M | 25x | as long as short |
| Arcus BTC-USD | +0.0100% | 1h | 85,354 | +0.052% | $4.6M | $98.7M | 40x | as long as short |
| Gate BTC_USDT | +0.0100% | 8h | 85,312.9 | +0.004% | $5.50B | $10.98B | 200x | as long as short |
| Backpack BTC_USDC_PERP | +0.0100% | 1h | 85,304.5 | −0.006% | $36.7M | $178.4M | 75x | as long as short |
| Variational Omni BTC | +0.0100% | 8h | 85,207.4 | −0.120% | $154.6M | $558.5M | — | as long as short |
| edgeX BTCUSDC | +0.0100% | 4h | 85,253.2 | −0.066% | $279.3M | $952.6M | 100x | as long as short |
| GRVT BTC_USDT_Perp | +0.0100% | 8h | 85,259.3 | −0.059% | $214.0M | $167.0M | 50x | as long as short |
| StandX BTC-USD | +0.0100% | 1h | 85,235 | −0.088% | $30.0M | $204.8M | 40x | as long as short |
| Vest BTC-PERP | +0.0100% | 1h | 85,382.4 | +0.085% | — | $10.9M | 50x | as long as short |
| Polymarket Perps BTC-USD | +0.0100% | 1h | 85,327 | +0.020% | $11.0M | $14.6M | 50x | as long as short |
| Bullet BTC-USD | +0.0100% | 1h | 85,329 | +0.022% | $201K | $3.3M | 20x | as long as short |
| Orderly PERP_BTC_USDClong | +0.0100% | 8h | 85,309.9 | long leg | $2.6M | $9.9M | 100x | |
| Bluefin BTC-PERP | +0.0100% | 1h | 85,354.5 | +0.052% | $193K | $795K | 40x | as long as short |
| Derive BTC-PERP | +0.0100% | 1h | 85,289.5 | −0.024% | $29.9M | $47.8M | 15x | as long as short |
| SunX BTC-USDT | +0.0100% | 8h | 85,331.7 | +0.026% | $2.9M | $6.1M | 100x | as long as short |
| HTX BTC-USDT | +0.0100% | 8h | 85,304.9 | −0.006% | $2.26B | $970.2M | 200x | as long as short |
| Bulk BTC-USD | +0.0100% | 1h | 85,294.8 | −0.018% | $682.6M | $475.0M | 40x | as long as short |
| Extended BTC-USD | +0.0104% | 1h | 85,271.4 | −0.045% | $44.7M | $240.9M | 50x | as long as short |
| Jupiter Perps WBTC-PERP | L +0.0104% / S +0.0048% | 1h | 85,353.7 | +0.051% | — | $107.1M | 500x | as long as short |
| Coinbase International BTC-PERP-INTX | +0.0104% | 1h | 85,349.3 | +0.046% | $117.4M | $5.46B | 50x | as long as short |
| Reya BTCRUSDPERP | +0.0125% | 1h | 85,316.7 | +0.008% | $6.6M | $147.6M | 40x | as long as short |
| GMX BTC/USD [WBTC.b-USDC] | L +0.0175% / S −0.0152% | 1h | 85,336.4 | +0.031% | $13.0M | — | 200x | as long as short |
| Kalshi KXBTCPERP | +0.0191% | 8h | 85,351 | +0.048% | $11.8M | $743.0M | 6.4x | as long as short |
| RISEx BTC/USDC | +0.0193% | 1h | 85,367.7 | +0.068% | $8.7M | $43.2M | 25x | as long as short |
| Hibachi BTC/USDT-Pshort | +0.0240% | 1h | 85,327.4 | +0.021% | $689K | $8.0M | 30x | |
| Aftermath Perps BTCUSD | +0.0258% | 1h | 85,345 | +0.041% | $79K | $229K | 20x | as long as short |
Nado BTC-PERP
Injective BTC/USDC PERP
ApeX Omni BTCUSDT
BingX BTC-USDC
Bitget BTCUSDT
Kraken Futures PF_XBTUSD
Binance BTCUSDT
MEXC BTC_USDT
SoDEX BTC-USD
Lighter BTC
Lighter RH BTC
Popdex BTCUSDT
Aevo BTC-PERP
Phemex 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
Gate BTC_USDT
Backpack BTC_USDC_PERP
Variational Omni BTC
edgeX BTCUSDC
GRVT BTC_USDT_Perp
StandX BTC-USD
Vest BTC-PERP
Polymarket Perps BTC-USD
Bullet BTC-USD
Bluefin BTC-PERP
Derive BTC-PERP
SunX BTC-USDT
HTX BTC-USDT
Bulk BTC-USD
Extended BTC-USD
Jupiter Perps WBTC-PERP
Coinbase International BTC-PERP-INTX
Reya BTCRUSDPERP
GMX BTC/USD [WBTC.b-USDC]
Kalshi KXBTCPERP
RISEx BTC/USDC
Aftermath Perps BTCUSD