Funding you earn now, next payment 02:00 UTC+0.0036%/8h= +3.9% APRnext payment +$0.04 per $10,000 · paid last 24h +0.046%
Price spread now: Hibachi against SoDEX+0.014%51s7-day average +0.046% · you sell dearer than you buy
Net, funding: paid 7d − costs—under 7 days of funding history
Net, price: spread back to 7d avg − costs—prices read too far apart to compare
costs, in and out, $10k−$180.178% of the position
Funding, last 3 days (all we have)+0.141%+$14 on $10k
+Price spread, last 3 days (all we have)+0.044%+$4 · spread now +0.014%, 7d avg +0.046%
=Together, before fees+0.185%+ Points / potential airdropHibachi: Active · farm board+$19 on $10k · with fees, hour by hour
Funding pays, the price is against you. Hibachi is 0.032% cheaper against SoDEX than usual: you would sell low and buy high (spread +0.014% now, against its 7-day average of +0.046%). If the spread goes back, that is −$3 on $10k: about 3.0 days of funding at the current rate (+$1 a day). At the pace of the last 3 days (+0.141% in total) that is about 18 hours. The two prices were read 51 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 | SoDEX BTC-USD | 85,620 | 0.0100 | pay 0.0013% / 1h | 35m 19s | $59.9M | $337.6M | 40x |
| Short | Hibachi BTC/USDT-P | 85,631.6 | 0.0136 | get 0.0017% / 1h | 35m 19s | $697K | $7.9M | 30x |
SoDEX BTC-USD
Hibachi BTC/USDT-PFunding history
latest
Range statsloading…
Price spread between the two exchanges
Hibachi against SoDEX. 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
- $7.56
- Price spread: +0.014% → +0.046%
- −$3.22
- Slippage, 4 orders
- −$0.77
- Fee SoDEX: 4 bp × 2 orders
- −$8
- Fee Hibachi: 4.5 bp × 2 orders
- −$9
- Net
- −$13.44
- Costs to cover
- 0.178%
- Break-even
- 19.4 days
Slippage from SoDEX: live order book, 4 min ago; Hibachi: live order book, 4 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 SoDEX live order book, 4 min ago | 0.06 bp | 4.1 bp −$4 | 4.1 bp −$41 | 4.9 bp −$489 | 39.9 bp −$20.0K |
| Sell Hibachi live order book, 4 min ago | 0.01 bp | 5.1 bp −$5 | 6.1 bp −$61 | 43.8 bp −$4,377 | 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 | 85,576 | −0.051% | $2.2M | $10.5M | 40x | as long as short |
| Hotstuff BTC-PERP | −0.0080% | 1h | 85,608 | −0.014% | $8K | $3K | 50x | as long as short |
| BloFin BTC-USDT | −0.0078% | 8h | 85,853 | +0.272% | $415.8M | $658.2M | 150x | as long as short |
| 01 Exchange BTCUSD | −0.0056% | 1h | 85,586.6 | −0.039% | $363K | $2.4M | 50x | as long as short |
| Perpl BTC | 0.0000% | 43m | 85,610.6 | −0.011% | $515K | $21.1M | 6.7x | as long as short |
| dYdX BTC-USD | +0.0001% | 1h | 85,615 | −0.006% | $16.7M | $21.0M | 50x | as long as short |
| gTrade (Gains Network) BTC/USD | L +0.0004% / S −0.0004% | 1h | 85,624.4 | +0.005% | $36.6M | — | 200x | as long as short |
| Injective BTC/USDC PERP | +0.0020% | 1h | 85,524 | −0.112% | $339K | $26.9M | 52x | as long as short |
| Aster BTCUSDT | +0.0035% | 8h | 85,596.5 | −0.027% | $496.3M | $1.14B | 200x | as long as short |
| KuCoin XBTUSDTM | +0.0037% | 8h | 85,576 | −0.051% | $900.8M | $758.9M | 125x | as long as short |
Phoenix BTC
Hotstuff BTC-PERP
BloFin BTC-USDT
01 Exchange BTCUSD
Perpl BTC
dYdX BTC-USD
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 | |
|---|---|---|---|---|---|---|---|---|
| ApeX Omni BTCUSDT | +0.0042% | 1h | 85,604.1 | −0.019% | $140.0M | $320.5M | 100x | as long as short |
| RISEx BTC/USDC | +0.0044% | 1h | 85,605.1 | −0.017% | $7.9M | $42.4M | 25x | as long as short |
| BingX BTC-USDC | +0.0054% | 8h | 85,599.6 | −0.024% | — | $15.4M | — | as long as short |
| Reya BTCRUSDPERP | +0.0055% | 1h | 85,595.9 | −0.028% | $6.7M | $146.1M | 40x | as long as short |
| HTX BTC-USDT | +0.0064% | 8h | 85,607.9 | −0.014% | $2.27B | $958.9M | 200x | as long as short |
| Bitget BTCUSDT | +0.0068% | 8h | 85,599.2 | −0.024% | $2.94B | $5.13B | 150x | as long as short |
| Nado BTC-PERP | +0.0071% | 1h | 85,585.3 | −0.041% | $22.7M | $229.9M | 50x | as long as short |
| Aevo BTC-PERP | +0.0080% | 1h | 85,610.6 | −0.011% | $2.5M | $1.8M | 20x | as long as short |
| Gate BTC_USDT | +0.0085% | 8h | 85,614.9 | −0.006% | $5.61B | $10.49B | 200x | as long as short |
| MEXC BTC_USDT | +0.0087% | 8h | 85,604 | −0.019% | $5.07B | $5.71B | 500x | as long as short |
| Binance BTCUSDT | +0.0087% | 8h | 85,612.7 | −0.009% | $9.31B | $24.54B | 150x | as long as short |
| Lighter BTC | +0.0096% | 1h | 85,598 | −0.026% | $169.4M | $984.8M | 50x | as long as short |
| Lighter RH BTC | +0.0096% | 1h | 85,599.3 | −0.024% | $23.2M | $146.0M | 50x | as long as short |
| Popdex BTCUSDT | +0.0096% | 1h | 85,594 | −0.030% | $8.4M | $52.4M | 100x | as long as short |
| Katana Perps BTC-USD | +0.0100% | 8h | 85,562 | −0.068% | $206K | $7.5M | 50x | as long as short |
| Paradex BTC-USD-PERP | +0.0100% | 8h | 85,576 | −0.051% | $3.8M | $8.6M | 50x | as long as short |
| Hyperliquid BTC | +0.0100% | 1h | 85,660 | +0.047% | $3.76B | $4.99B | 40x | as long as short |
| Pacifica BTC | +0.0100% | 1h | 85,622 | +0.002% | $40.7M | $569.7M | 50x | as long as short |
| Bybit BTCUSDT | +0.0100% | 8h | 85,624.7 | +0.005% | $5.28B | $9.88B | 150x | as long as short |
| OKX BTC-USDT-SWAP | +0.0100% | 8h | 85,618.7 | −0.002% | $2.53B | $12.47B | 100x | as long as short |
| Ondo Perps BTC-USD.P | +0.0100% | 1h | 85,608 | −0.014% | $3.9M | $18.0M | 25x | as long as short |
| Arcus BTC-USD | +0.0100% | 1h | 85,575.3 | −0.052% | $7.3M | $98.3M | 40x | as long as short |
| Backpack BTC_USDC_PERP | +0.0100% | 1h | 85,604 | −0.019% | $35.1M | $162.9M | 75x | as long as short |
| Variational Omni BTC | +0.0100% | 8h | 85,619.2 | −0.001% | $156.3M | $559.9M | — | as long as short |
| edgeX BTCUSDC | +0.0100% | 4h | 85,518.2 | −0.119% | $277.3M | $942.0M | 100x | as long as short |
| GRVT BTC_USDT_Perp | +0.0100% | 8h | 85,595.7 | −0.028% | $214.7M | $167.4M | 50x | as long as short |
| StandX BTC-USD | +0.0100% | 1h | 85,590.6 | −0.034% | $30.3M | $208.2M | 40x | as long as short |
| Vest BTC-PERP | +0.0100% | 1h | 85,651.4 | +0.037% | — | $11.8M | 50x | as long as short |
| Polymarket Perps BTC-USD | +0.0100% | 1h | 85,595 | −0.029% | $11.0M | $14.3M | 50x | as long as short |
| Bullet BTC-USD | +0.0100% | 1h | 85,609.3 | −0.012% | $190K | $3.3M | 20x | as long as short |
| Orderly PERP_BTC_USDC | +0.0100% | 8h | 85,617 | −0.004% | $2.4M | $9.1M | 100x | as long as short |
| Bluefin BTC-PERP | +0.0100% | 1h | 84,767.6 | −0.996% | $184K | $708K | 40x | as long as short |
| Derive BTC-PERP | +0.0100% | 1h | 85,625.8 | +0.007% | $30.0M | $57.6M | 15x | as long as short |
| SunX BTC-USDT | +0.0100% | 8h | 85,537.7 | −0.096% | $2.9M | $6.6M | 100x | as long as short |
| SoDEX BTC-USDlong | +0.0100% | 1h | 85,620 | long leg | $59.9M | $337.6M | 40x | |
| Phemex BTCUSDT | +0.0100% | 8h | 85,631.2 | +0.013% | $153.6M | $480.4M | 150x | as long as short |
| Bulk BTC-USD | +0.0100% | 1h | 85,587.5 | −0.038% | $583.6M | $150.2M | 40x | as long as short |
| Extended BTC-USD | +0.0104% | 1h | 85,571.9 | −0.056% | $44.6M | $227.7M | 50x | as long as short |
| Jupiter Perps WBTC-PERP | L +0.0104% / S +0.0056% | 1h | 85,600.5 | −0.023% | — | $102.0M | 500x | as long as short |
| Coinbase International BTC-PERP-INTX | +0.0112% | 1h | 85,647 | +0.032% | $130.8M | $5.25B | 50x | as long as short |
| Hibachi BTC/USDT-Pshort | +0.0136% | 1h | 85,631.6 | +0.014% | $697K | $7.9M | 30x | |
| Kraken Futures PF_XBTUSD | +0.0146% | 1h | 85,637.5 | +0.020% | $188.4M | $969.6M | 100x | as long as short |
| Aftermath Perps BTCUSD | +0.0159% | 1h | 85,640.1 | +0.023% | $78K | $219K | 20x | as long as short |
| GMX BTC/USD [WBTC.b-USDC] | L +0.0204% / S −0.0192% | 1h | 85,616.8 | −0.004% | $13.7M | — | 200x | as long as short |
| Kalshi KXBTCPERP | +0.0206% | 8h | 85,628 | +0.009% | $10.1M | $770.7M | 6.4x | as long as short |
| Deribit BTC-PERPETUAL | +0.0221% | 1h | 85,664.6 | +0.052% | $893.9M | $1.55B | 50x | as long as short |
ApeX Omni BTCUSDT
RISEx BTC/USDC
BingX BTC-USDC
Reya BTCRUSDPERP
HTX BTC-USDT
Bitget BTCUSDT
Nado BTC-PERP
Aevo BTC-PERP
Gate BTC_USDT
MEXC BTC_USDT
Binance BTCUSDT
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
StandX BTC-USD
Vest BTC-PERP
Polymarket Perps BTC-USD
Bullet BTC-USD
Orderly PERP_BTC_USDC
Bluefin BTC-PERP
Derive BTC-PERP
SunX BTC-USDT
Phemex BTCUSDT
Bulk BTC-USD
Extended BTC-USD
Jupiter Perps WBTC-PERP
Coinbase International BTC-PERP-INTX
Kraken Futures PF_XBTUSD
Aftermath Perps BTCUSD
GMX BTC/USD [WBTC.b-USDC]
Kalshi KXBTCPERP
Deribit BTC-PERPETUAL