BTC

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0132%/8h= −14.5% APRnext payment −$0.17 per $10,000 · paid last 24h −0.042%

Price spread now: Arcus against Hibachi+0.063%7-day average −0.006% · 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−$7as in the Price arb table

costs, in and out, $10k−$140.140% of the position

Long on Hibachi Short on Arcus

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.127%−$13 on $10k

Price spread, last 7 days−0.055%−$5 · spread now +0.063%, 7d avg −0.006%

Together, before fees−0.181%+ Points / potential airdropHibachi: Active · farm board−$18 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Arcus is 0.069% dearer against Hibachi than usual: you sell high and buy low (spread +0.063% now, against its 7-day average of −0.006%): +$7 on $10k if it goes back. Holding the pair costs −$4 a day in funding at the current rate, which eats that in about 42 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hibachi BTC/USDT-P	85,354.3	0.0232	pay 0.0029% / 1h	27m 24s	$684K	$7.9M	30x
Short	Arcus BTC-USD	85,407.7	0.0100	get 0.0013% / 1h	27m 24s	$5.2M	$98.9M	40x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Arcus against Hibachi. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee HibachibpFee ArcusbpOrdersPrice spread, now +0.063%Rate

Funding earned: −$27.72
Price spread: +0.063% → −0.006%: $6.88
Slippage, 4 orders: −$0.54
Fee Hibachi: 4.5 bp × 2 orders: −$9
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Net: −$34.88
Costs to cover: 0.140%
Break-even: never at this rate

Slippage from Hibachi: live order book, 2 min ago; Arcus: 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 Hibachi live order book, 2 min ago	0.01 bp	4.8 bp −$5	5.8 bp −$58	41.7 bp −$4,168	doesn't fit
Sell Arcus live order book, 2 min ago	0.01 bp	2.3 bp −$2	3.1 bp −$31	4.2 bp −$421	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	−0.0082%	1h	85,329	−0.030%	$2.1M	$10.4M	40x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	85,391	+0.043%	$8K	$3K	50x	as long as short
KuCoin XBTUSDTM	−0.0045%	8h	85,420.1	+0.077%	$928.9M	$773.7M	125x	as long as short
BloFin BTC-USDT	−0.0029%	8h	85,312.1	−0.049%	$421.0M	$682.8M	150x	as long as short
Aster BTCUSDT	−0.0011%	8h	85,426	+0.084%	$513.2M	$1.09B	200x	as long as short
01 Exchange BTCUSD	0.0000%	1h	85,440.2	+0.101%	$353K	$2.4M	50x	as long as short
Perpl BTC	0.0000%	43m	85,448.2	+0.110%	$491K	$18.5M	6.7x	as long as short
dYdX BTC-USD	+0.0001%	1h	85,424.2	+0.082%	$16.7M	$21.3M	50x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0004% / S −0.0004%	1h	85,348.2	−0.007%	$36.5M	—	200x	as long as short
Nado BTC-PERP	+0.0040%	1h	85,397.2	+0.050%	$24.4M	$222.4M	50x	as long as short

Show all 56 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Injective BTC/USDC PERP	+0.0057%	1h	85,247	−0.126%	$338K	$26.8M	52x	as long as short
BingX BTC-USDC	+0.0070%	8h	85,411.4	+0.067%	—	$17.5M	—	as long as short
Deribit BTC-PERPETUAL	+0.0071%	1h	85,457.7	+0.121%	$862.1M	$1.64B	50x	as long as short
Aevo BTC-PERP	+0.0088%	1h	85,420.1	+0.077%	$2.4M	$6.7M	20x	as long as short
ApeX Omni BTCUSDT	+0.0088%	1h	85,342.3	−0.014%	$139.5M	$314.2M	100x	as long as short
Kraken Futures PF_XBTUSD	+0.0089%	1h	85,431.3	+0.090%	$185.4M	$958.9M	100x	as long as short
Bitget BTCUSDT	+0.0089%	8h	85,423.4	+0.081%	$2.97B	$5.17B	150x	as long as short
MEXC BTC_USDT	+0.0091%	8h	85,426.1	+0.084%	$5.02B	$5.76B	500x	as long as short
Binance BTCUSDT	+0.0092%	8h	85,431.4	+0.090%	$9.43B	$24.97B	150x	as long as short
Lighter BTC	+0.0096%	1h	85,442	+0.103%	$170.2M	$1.02B	50x	as long as short
Lighter RH BTC	+0.0096%	1h	85,446.3	+0.108%	$23.5M	$148.1M	50x	as long as short
Popdex BTCUSDT	+0.0096%	1h	85,429	+0.088%	$8.4M	$56.3M	100x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	85,403	+0.057%	$237K	$8.7M	50x	as long as short
Bybit BTCUSDT	+0.0100%	8h	85,427	+0.085%	$5.15B	$9.99B	150x	as long as short
Paradex BTC-USD-PERP	+0.0100%	8h	85,462.1	+0.126%	$5.8M	$9.6M	50x	as long as short
Hyperliquid BTC	+0.0100%	1h	85,506	+0.178%	$3.75B	$5.09B	40x	as long as short
Pacifica BTC	+0.0100%	1h	85,464.8	+0.129%	$40.0M	$602.6M	50x	as long as short
OKX BTC-USDT-SWAP	+0.0100%	8h	85,432.1	+0.091%	$2.60B	$12.26B	100x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	85,409	+0.064%	$3.8M	$17.1M	25x	as long as short
Arcus BTC-USDshort	+0.0100%	1h	85,407.7	+0.063%	$5.2M	$98.9M	40x
Gate BTC_USDT	+0.0100%	8h	85,435.6	+0.095%	$5.55B	$11.02B	200x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	85,354.9	+0.001%	$37.1M	$178.4M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	85,275.8	−0.092%	$154.7M	$557.8M	—	as long as short
edgeX BTCUSDC	+0.0100%	4h	85,313.9	−0.047%	$279.5M	$949.6M	100x	as long as short
GRVT BTC_USDT_Perp	+0.0100%	8h	85,293.3	−0.071%	$214.1M	$165.1M	50x	as long as short
StandX BTC-USD	+0.0100%	1h	85,315.1	−0.046%	$30.1M	$203.8M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	85,467.6	+0.133%	—	$10.9M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	85,428	+0.086%	$11.0M	$14.6M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	85,430.6	+0.089%	$201K	$3.3M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	85,431.1	+0.090%	$2.6M	$9.8M	100x	as long as short
Bluefin BTC-PERP	+0.0100%	1h	85,469.5	+0.135%	$194K	$795K	40x	as long as short
Derive BTC-PERP	+0.0100%	1h	85,214.5	−0.164%	$29.9M	$47.0M	15x	as long as short
SunX BTC-USDT	+0.0100%	8h	85,411.2	+0.067%	$2.9M	$6.1M	100x	as long as short
SoDEX BTC-USD	+0.0100%	1h	85,417	+0.073%	$59.8M	$336.8M	40x	as long as short
HTX BTC-USDT	+0.0100%	8h	85,326.2	−0.033%	$2.26B	$967.9M	200x	as long as short
Phemex BTCUSDT	+0.0100%	8h	85,353.2	−0.001%	$152.2M	$509.9M	150x	as long as short
Bulk BTC-USD	+0.0100%	1h	85,269.9	−0.099%	$683.1M	$415.1M	40x	as long as short
Extended BTC-USD	+0.0104%	1h	85,401.9	+0.056%	$44.9M	$240.8M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0056%	1h	85,410.1	+0.065%	—	$106.8M	500x	as long as short
Coinbase International BTC-PERP-INTX	+0.0104%	1h	85,453.6	+0.116%	$115.9M	$5.47B	50x	as long as short
Reya BTCRUSDPERP	+0.0129%	1h	85,307.5	−0.055%	$6.6M	$147.6M	40x	as long as short
Kalshi KXBTCPERP	+0.0182%	8h	85,358	+0.004%	$11.8M	$740.9M	6.4x	as long as short
RISEx BTC/USDC	+0.0193%	1h	85,448.4	+0.110%	$8.8M	$42.8M	25x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0200% / S −0.0176%	1h	85,357.3	+0.003%	$13.1M	—	200x	as long as short
Hibachi BTC/USDT-Plong	+0.0232%	1h	85,354.3	long leg	$684K	$7.9M	30x
Aftermath Perps BTCUSD	+0.0259%	1h	85,328.6	−0.030%	$79K	$230K	20x	as long as short