Funding you earn now, next payment 11:00 UTC+0.0220%/8h= +24.1% APRnext payment +$0.28 per $10,000 · paid last 24h +0.033%
Price spread now: Hibachi against Derive+0.058%172s7-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+0.372%+$37 on $10k
+Price spread, last 4 days (all we have)+0.044%+$4 · spread now +0.058%, 7d avg +0.041%
=Together, before fees+0.416%+ Points / potential airdropHibachi: Active · farm board+$42 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: +$7 a day on $10k at the current rate. The two prices were read 172 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 | Derive BTC-PERP | 85,867.5 | 0.0100 | pay 0.0013% / 1h | 5m 29s | $29.0M | $44.5M | 15x |
| Short | Hibachi BTC/USDT-P | 85,917.7 | 0.0320 | get 0.0040% / 1h | 5m 29s | $693K | $6.7M | 30x |
Derive BTC-PERP
Hibachi BTC/USDT-PFunding history
latest
Range statsloading…
Price spread between the two exchanges
Hibachi against Derive. 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
- $46.2
- Price spread: +0.058% → +0.041%
- $1.74
- Slippage, 4 orders
- no order book: not counted
- Fee Derive: 3 bp × 2 orders
- −$6
- Fee Hibachi: 4.5 bp × 2 orders
- −$9
- Net
- $32.94
- Costs to cover
- 0.150%
- Break-even
- 2.0 days
Slippage unknown: Derive: no order-book sample; Hibachi: live order book, 2 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 Derive no order-book sample | — | — | — | — | — |
| Sell Hibachi live order book, 2 min ago | 0.01 bp | 4.5 bp −$5 | 5.1 bp −$51 | 45.0 bp −$4,497 | doesn't fit |
Derive: 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 exchanges
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 | −0.0133% | 1h | 85,779 | −0.103% | $2.1M | $7.8M | 40x | as long as short |
| Hotstuff BTC-PERP | −0.0080% | 1h | 86,196 | +0.383% | $8K | $2K | 50x | as long as short |
| BloFin BTC-USDT | −0.0044% | 8h | 85,849.3 | −0.021% | $421.8M | $550.0M | 150x | as long as short |
| 01 Exchange BTCUSD | −0.0040% | 1h | 85,896.7 | +0.034% | $367K | $1.8M | 50x | as long as short |
| SoDEX BTC-USD | −0.0004% | 1h | 85,893 | +0.030% | $65.8M | $187.7M | 40x | as long as short |
| Perpl BTC | 0.0000% | 43m | 85,901.5 | +0.040% | $467K | $13.5M | 6.7x | as long as short |
| dYdX BTC-USD | +0.0003% | 1h | 85,889.3 | +0.025% | $16.8M | $13.6M | 50x | as long as short |
| gTrade (Gains Network) BTC/USD | L +0.0004% / S −0.0004% | 1h | 85,903.2 | +0.042% | $36.9M | — | 200x | as long as short |
| Injective BTC/USDC PERP | +0.0009% | 1h | 85,828 | −0.046% | $320K | $30.6M | 52x | as long as short |
| Aster BTCUSDT | +0.0015% | 8h | 85,874.3 | +0.008% | $511.2M | $846.4M | 200x | as long as short |
Phoenix BTC
Hotstuff BTC-PERP
BloFin BTC-USDT
01 Exchange BTCUSD
SoDEX BTC-USD
Perpl BTC
dYdX BTC-USD
gTrade (Gains Network) BTC/USD
Injective BTC/USDC PERP
Aster BTCUSDTShow all 56 exchanges
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Kraken Futures PF_XBTUSD | +0.0030% | 1h | 85,905.9 | +0.045% | $192.1M | $750.4M | 100x | as long as short |
| BingX BTC-USDT | +0.0043% | 8h | 85,891.1 | +0.027% | — | $1.30B | — | as long as short |
| Popdex BTCUSDT | +0.0048% | 1h | 85,891 | +0.027% | $8.6M | $45.5M | 100x | as long as short |
| KuCoin XBTUSDTM | +0.0053% | 8h | 85,886.7 | +0.022% | $941.8M | $636.0M | 125x | as long as short |
| Bybit BTCUSDT | +0.0058% | 8h | 85,893.2 | +0.030% | $5.14B | $8.05B | 150x | as long as short |
| Phemex BTCUSDT | +0.0062% | 8h | 85,894.8 | +0.032% | $170.1M | $476.1M | 150x | as long as short |
| HTX BTC-USDT | +0.0071% | 8h | 85,883.9 | +0.019% | $2.27B | $786.7M | 200x | as long as short |
| MEXC BTC_USDT | +0.0076% | 8h | 85,883 | +0.018% | $5.16B | $4.91B | 500x | as long as short |
| Gate BTC_USDT | +0.0077% | 8h | 85,896 | +0.033% | $5.51B | $9.05B | 200x | as long as short |
| Binance BTCUSDT | +0.0077% | 8h | 85,889.8 | +0.026% | $9.41B | $20.28B | 150x | as long as short |
| Aevo BTC-PERP | +0.0080% | 1h | 85,878.2 | +0.012% | $2.4M | $6.8M | 20x | as long as short |
| Bitget BTCUSDT | +0.0088% | 8h | 85,891.4 | +0.028% | $3.00B | $3.89B | 150x | as long as short |
| GRVT BTC_USDT_Perp | +0.0091% | 8h | 85,792.9 | −0.087% | $215.6M | $132.8M | 50x | as long as short |
| Lighter BTC | +0.0096% | 1h | 85,910.5 | +0.050% | $172.7M | $876.4M | 50x | as long as short |
| Lighter RH BTC | +0.0096% | 1h | 85,912.7 | +0.053% | $23.7M | $121.8M | 50x | as long as short |
| Bullet BTC-USD | +0.0099% | 1h | 85,892.8 | +0.029% | $211K | $3.2M | 20x | as long as short |
| Katana Perps BTC-USD | +0.0100% | 8h | 85,867 | −0.001% | $230K | $8.0M | 50x | as long as short |
| Nado BTC-PERP | +0.0100% | 1h | 85,893.7 | +0.030% | $23.3M | $190.7M | 50x | as long as short |
| Paradex BTC-USD-PERP | +0.0100% | 8h | 85,915 | +0.055% | $5.9M | $7.3M | 50x | as long as short |
| Pacifica BTC | +0.0100% | 1h | 85,926.3 | +0.068% | $40.0M | $571.4M | 50x | as long as short |
| OKX BTC-USDT-SWAP | +0.0100% | 8h | 85,901.3 | +0.039% | $2.63B | $9.25B | 100x | as long as short |
| Ondo Perps BTC-USD.P | +0.0100% | 1h | 85,884 | +0.019% | $3.9M | $14.7M | 25x | as long as short |
| Arcus BTC-USD | +0.0100% | 1h | 85,890 | +0.026% | $4.9M | $91.5M | 40x | as long as short |
| Backpack BTC_USDC_PERP | +0.0100% | 1h | 85,881.8 | +0.017% | $38.0M | $194.9M | 75x | as long as short |
| Variational Omni BTC | +0.0100% | 8h | 85,877.2 | +0.011% | $155.8M | $472.2M | — | as long as short |
| edgeX BTCUSDC | +0.0100% | 4h | 85,804.9 | −0.073% | $289.4M | $738.2M | 100x | as long as short |
| ApeX Omni BTCUSDT | +0.0100% | 1h | 85,805 | −0.073% | $137.8M | $288.4M | 100x | as long as short |
| StandX BTC-USD | +0.0100% | 1h | 85,834.8 | −0.038% | $30.2M | $227.1M | 40x | as long as short |
| Vest BTC-PERP | +0.0100% | 1h | 85,940 | +0.084% | — | $10.2M | 50x | as long as short |
| Polymarket Perps BTC-USD | +0.0100% | 1h | 85,890 | +0.026% | $11.0M | $11.9M | 50x | as long as short |
| Orderly PERP_BTC_USDC | +0.0100% | 8h | 85,887.7 | +0.024% | $2.6M | $8.9M | 100x | as long as short |
| Bluefin BTC-PERP | +0.0100% | 1h | 85,925.9 | +0.068% | $143K | $607K | 40x | as long as short |
| Derive BTC-PERPlong | +0.0100% | 1h | 85,867.5 | long leg | $29.0M | $44.5M | 15x | |
| SunX BTC-USDT | +0.0100% | 8h | 85,901.7 | +0.040% | $3.3M | $6.7M | 100x | as long as short |
| Bulk BTC-USD | +0.0100% | 1h | 85,889.6 | +0.026% | $714.2M | $91.8M | 40x | as long as short |
| Extended BTC-USD | +0.0104% | 1h | 85,858.4 | −0.011% | $47.3M | $193.1M | 50x | as long as short |
| Jupiter Perps WBTC-PERP | L +0.0104% / S +0.0056% | 1h | 85,903.1 | +0.041% | — | $79.5M | 500x | as long as short |
| Coinbase International BTC-PERP-INTX | +0.0120% | 1h | 85,938.6 | +0.083% | $112.4M | $4.94B | 50x | as long as short |
| Hyperliquid BTC | +0.0152% | 1h | 85,986 | +0.138% | $3.94B | $4.18B | 40x | as long as short |
| Kalshi KXBTCPERP | +0.0156% | 8h | 85,912 | +0.052% | $12.0M | $736.1M | 6.4x | as long as short |
| Reya BTCRUSDPERP | +0.0170% | 1h | 85,883.4 | +0.019% | $6.6M | $128.4M | 40x | as long as short |
| RISEx BTC/USDC | +0.0187% | 1h | 85,915.8 | +0.056% | $9.0M | $35.8M | 25x | as long as short |
| GMX BTC/USD [WBTC.b-USDC] | L +0.0211% / S −0.0251% | 1h | 85,906.8 | +0.046% | $15.5M | — | 200x | as long as short |
| Deribit BTC-PERPETUAL | +0.0245% | 1h | 85,945.2 | +0.091% | $820.3M | $1.50B | 50x | as long as short |
| Hibachi BTC/USDT-Pshort | +0.0320% | 1h | 85,917.7 | +0.058% | $693K | $6.7M | 30x | |
| Aftermath Perps BTCUSD | +0.0356% | 1h | 85,868.6 | +0.001% | $79K | $228K | 20x | as long as short |
Kraken Futures PF_XBTUSD
BingX BTC-USDT
Popdex BTCUSDT
KuCoin XBTUSDTM
Bybit BTCUSDT
Phemex BTCUSDT
HTX BTC-USDT
MEXC BTC_USDT
Gate BTC_USDT
Binance BTCUSDT
Aevo BTC-PERP
Bitget BTCUSDT
GRVT BTC_USDT_Perp
Lighter BTC
Lighter RH BTC
Bullet BTC-USD
Katana Perps BTC-USD
Nado BTC-PERP
Paradex BTC-USD-PERP
Pacifica BTC
OKX BTC-USDT-SWAP
Ondo Perps BTC-USD.P
Arcus BTC-USD
Backpack BTC_USDC_PERP
Variational Omni BTC
edgeX BTCUSDC
ApeX Omni BTCUSDT
StandX BTC-USD
Vest BTC-PERP
Polymarket Perps BTC-USD
Orderly PERP_BTC_USDC
Bluefin BTC-PERP
SunX BTC-USDT
Bulk BTC-USD
Extended BTC-USD
Jupiter Perps WBTC-PERP
Coinbase International BTC-PERP-INTX
Hyperliquid BTC
Kalshi KXBTCPERP
Reya BTCRUSDPERP
RISEx BTC/USDC
GMX BTC/USD [WBTC.b-USDC]
Deribit BTC-PERPETUAL
Aftermath Perps BTCUSD