Funding you earn now, next payment 08:00 UTC+0.0100%/8h= +10.9% APRnext payment +$0.12 per $10,000 · paid last 24h +0.034%
Price spread now: Hibachi against Bulk+0.054%7-day average +0.038% · 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−$15as in the Price arb table
costs, in and out, $10k−$160.164% of the position
Funding, last 4 days (all we have)+0.120%+$12 on $10k
+Price spread, last 7 days−0.015%−$1 · spread now +0.054%, 7d avg +0.038%
=Together, before fees+0.105%+ Points / potential airdropHibachi: Active · farm board+$11 on $10k · with fees, hour by hour
The price spread sits at its 7-day average of +0.038%, so right now this pair is about funding alone: +$3 a day on $10k at the current rate.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Bulk BTC-USD | 85,299.3 | 0.0100 | pay 0.0013% / 1h | 37m 32s | $693.1M | $258.2M | 40x |
| Short | Hibachi BTC/USDT-P | 85,345.5 | 0.0200 | get 0.0025% / 1h | 37m 32s | $683K | $7.7M | 30x |
Bulk BTC-USD
Hibachi BTC/USDT-PFunding history
latest
Range statsloading…
Price spread between the two exchanges
Hibachi against Bulk. 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
- $21
- Price spread: +0.054% → +0.038%
- $1.65
- Slippage, 4 orders
- −$0.42
- Fee Bulk: 3.5 bp × 2 orders
- −$7
- Fee Hibachi: 4.5 bp × 2 orders
- −$9
- Net
- $6.23
- Costs to cover
- 0.164%
- Break-even
- 4.9 days
Slippage from Bulk: live order book, 2 min ago; Hibachi: live order book, 2 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 Bulk live order book, 2 min ago | 0.01 bp | 3.5 bp −$4 | 3.5 bp −$35 | 3.5 bp −$351 | 4.8 bp −$2,406 |
| Sell Hibachi live order book, 2 min ago | 0.01 bp | 4.5 bp −$5 | 4.5 bp −$45 | 43.4 bp −$4,341 | 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 | |
|---|---|---|---|---|---|---|---|---|
| Hotstuff BTC-PERP | −0.0080% | 1h | 85,262 | −0.044% | $8K | $3K | 50x | as long as short |
| Phoenix BTC | −0.0034% | 1h | 85,354 | +0.064% | $2.3M | $10.8M | 40x | as long as short |
| KuCoin XBTUSDTM | −0.0024% | 8h | 85,209.6 | −0.105% | $928.9M | $775.6M | 125x | as long as short |
| BloFin BTC-USDT | −0.0022% | 8h | 85,311.6 | +0.014% | $420.7M | $681.9M | 150x | as long as short |
| Aster BTCUSDT | −0.0006% | 8h | 85,218.3 | −0.095% | $509.6M | $1.08B | 200x | as long as short |
| 01 Exchange BTCUSD | 0.0000% | 1h | 85,224.3 | −0.088% | $346K | $2.3M | 50x | as long as short |
| Perpl BTC | 0.0000% | 43m | 85,258.3 | −0.048% | $481K | $18.4M | 6.7x | as long as short |
| dYdX BTC-USD | +0.0004% | 1h | 85,225.3 | −0.087% | $16.7M | $21.0M | 50x | as long as short |
| gTrade (Gains Network) BTC/USD | L +0.0004% / S −0.0004% | 1h | 85,309.4 | +0.012% | $36.5M | — | 200x | as long as short |
| Kraken Futures PF_XBTUSD | +0.0026% | 1h | 85,294.8 | −0.005% | $186.1M | $953.0M | 100x | as long as short |
Hotstuff BTC-PERP
Phoenix BTC
KuCoin XBTUSDTM
BloFin BTC-USDT
Aster BTCUSDT
01 Exchange BTCUSD
Perpl BTC
dYdX BTC-USD
gTrade (Gains Network) BTC/USD
Kraken Futures PF_XBTUSDShow all 56 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| ApeX Omni BTCUSDT | +0.0063% | 1h | 85,387.6 | +0.104% | $139.8M | $312.7M | 100x | as long as short |
| Injective BTC/USDC PERP | +0.0067% | 1h | 85,342 | +0.050% | $338K | $24.7M | 52x | as long as short |
| BingX BTC-USDC | +0.0067% | 8h | 85,227.7 | −0.084% | — | $17.4M | — | as long as short |
| Bybit BTCUSDT | +0.0082% | 8h | 85,198.3 | −0.118% | $5.12B | $9.99B | 150x | as long as short |
| Deribit BTC-PERPETUAL | +0.0087% | 1h | 85,327.1 | +0.033% | $840.9M | $1.66B | 50x | as long as short |
| Nado BTC-PERP | +0.0087% | 1h | 85,266 | −0.039% | $24.0M | $220.4M | 50x | as long as short |
| Bitget BTCUSDT | +0.0092% | 8h | 85,215.6 | −0.098% | $2.97B | $5.18B | 150x | as long as short |
| Lighter BTC | +0.0096% | 1h | 85,249.1 | −0.059% | $168.5M | $1.02B | 50x | as long as short |
| Lighter RH BTC | +0.0096% | 1h | 85,248.6 | −0.059% | $23.6M | $148.2M | 50x | as long as short |
| Popdex BTCUSDT | +0.0096% | 1h | 85,235 | −0.075% | $8.4M | $57.4M | 100x | as long as short |
| Aevo BTC-PERP | +0.0096% | 1h | 85,297.3 | −0.002% | $2.4M | $6.7M | 20x | as long as short |
| Binance BTCUSDT | +0.0098% | 8h | 85,221.2 | −0.092% | $9.39B | $25.07B | 150x | as long as short |
| MEXC BTC_USDT | +0.0098% | 8h | 85,216 | −0.098% | $5.04B | $5.73B | 500x | as long as short |
| Katana Perps BTC-USD | +0.0100% | 8h | 85,208 | −0.107% | $270K | $8.7M | 50x | as long as short |
| Paradex BTC-USD-PERP | +0.0100% | 8h | 85,300.9 | +0.002% | $5.8M | $9.5M | 50x | as long as short |
| Hyperliquid BTC | +0.0100% | 1h | 85,300 | +0.001% | $3.74B | $5.07B | 40x | as long as short |
| Pacifica BTC | +0.0100% | 1h | 85,265 | −0.040% | $39.9M | $606.5M | 50x | as long as short |
| OKX BTC-USDT-SWAP | +0.0100% | 8h | 85,213.4 | −0.101% | $2.60B | $12.20B | 100x | as long as short |
| Ondo Perps BTC-USD.P | +0.0100% | 1h | 85,238 | −0.072% | $3.8M | $17.3M | 25x | as long as short |
| Arcus BTC-USD | +0.0100% | 1h | 85,249.8 | −0.058% | $4.7M | $96.9M | 40x | as long as short |
| Gate BTC_USDT | +0.0100% | 8h | 85,254.8 | −0.052% | $5.50B | $11.05B | 200x | as long as short |
| Backpack BTC_USDC_PERP | +0.0100% | 1h | 85,266.2 | −0.039% | $37.2M | $186.1M | 75x | as long as short |
| Variational Omni BTC | +0.0100% | 8h | 85,361.8 | +0.073% | $156.0M | $553.1M | — | as long as short |
| edgeX BTCUSDC | +0.0100% | 4h | 85,300.9 | +0.002% | $282.9M | $956.7M | 100x | as long as short |
| GRVT BTC_USDT_Perp | +0.0100% | 8h | 85,333.8 | +0.041% | $214.3M | $158.5M | 50x | as long as short |
| StandX BTC-USD | +0.0100% | 1h | 85,322.9 | +0.028% | $30.1M | $210.7M | 40x | as long as short |
| Vest BTC-PERP | +0.0100% | 1h | 85,299 | 0.000% | — | $10.1M | 50x | as long as short |
| Polymarket Perps BTC-USD | +0.0100% | 1h | 85,232 | −0.079% | $10.9M | $14.8M | 50x | as long as short |
| Bullet BTC-USD | +0.0100% | 1h | 85,221.8 | −0.091% | $197K | $3.3M | 20x | as long as short |
| Orderly PERP_BTC_USDC | +0.0100% | 8h | 85,297.7 | −0.002% | $2.6M | $9.7M | 100x | as long as short |
| Bluefin BTC-PERP | +0.0100% | 1h | 85,334 | +0.041% | $194K | $796K | 40x | as long as short |
| Derive BTC-PERP | +0.0100% | 1h | 85,281.1 | −0.021% | $29.9M | $45.8M | 15x | as long as short |
| SunX BTC-USDT | +0.0100% | 8h | 85,309.9 | +0.012% | $2.9M | $6.1M | 100x | as long as short |
| SoDEX BTC-USD | +0.0100% | 1h | 85,293 | −0.007% | $59.7M | $336.5M | 40x | as long as short |
| HTX BTC-USDT | +0.0100% | 8h | 85,300 | +0.001% | $2.25B | $967.8M | 200x | as long as short |
| Phemex BTCUSDT | +0.0100% | 8h | 85,292.9 | −0.007% | $158.9M | $514.7M | 150x | as long as short |
| Bulk BTC-USDlong | +0.0100% | 1h | 85,299.3 | long leg | $693.1M | $258.2M | 40x | |
| Extended BTC-USD | +0.0104% | 1h | 85,226 | −0.086% | $45.5M | $241.6M | 50x | as long as short |
| Jupiter Perps WBTC-PERP | L +0.0104% / S +0.0056% | 1h | 85,314.2 | +0.018% | — | $105.9M | 500x | as long as short |
| Coinbase International BTC-PERP-INTX | +0.0104% | 1h | 85,326.6 | +0.032% | $112.2M | $5.48B | 50x | as long as short |
| Reya BTCRUSDPERP | +0.0138% | 1h | 85,207.8 | −0.107% | $6.6M | $145.8M | 40x | as long as short |
| Kalshi KXBTCPERP | +0.0172% | 8h | 85,328 | +0.034% | $12.0M | $736.4M | 6.4x | as long as short |
| RISEx BTC/USDC | +0.0174% | 1h | 85,251.1 | −0.056% | $8.8M | $42.8M | 25x | as long as short |
| GMX BTC/USD [WBTC.b-USDC] | L +0.0175% / S −0.0147% | 1h | 85,226.8 | −0.085% | $13.0M | — | 200x | as long as short |
| Hibachi BTC/USDT-Pshort | +0.0200% | 1h | 85,345.5 | +0.054% | $683K | $7.7M | 30x | |
| Aftermath Perps BTCUSD | +0.0297% | 1h | 85,360.2 | +0.071% | $79K | $252K | 20x | as long as short |
ApeX Omni BTCUSDT
Injective BTC/USDC PERP
BingX BTC-USDC
Bybit BTCUSDT
Deribit BTC-PERPETUAL
Nado BTC-PERP
Bitget BTCUSDT
Lighter BTC
Lighter RH BTC
Popdex BTCUSDT
Aevo BTC-PERP
Binance BTCUSDT
MEXC BTC_USDT
Katana Perps BTC-USD
Paradex BTC-USD-PERP
Hyperliquid BTC
Pacifica BTC
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
Orderly PERP_BTC_USDC
Bluefin BTC-PERP
Derive BTC-PERP
SunX BTC-USDT
SoDEX BTC-USD
HTX BTC-USDT
Phemex BTCUSDT
Extended BTC-USD
Jupiter Perps WBTC-PERP
Coinbase International BTC-PERP-INTX
Reya BTCRUSDPERP
Kalshi KXBTCPERP
RISEx BTC/USDC
GMX BTC/USD [WBTC.b-USDC]
Aftermath Perps BTCUSD