Funding you earn now, next payment 06:00 UTC−0.0132%/8h= −14.5% APRnext payment −$0.17 per $10,000 · paid last 24h −0.196%
Price spread now: Bluefin against Hibachi+0.006%7-day average −0.056% · you sell dearer than you buy
Net, funding: paid 7d − costs−$83as in the Funding arb table
Net, price: spread back to 7d avg − costs−$15as in the Price arb table
costs, in and out, $10k−$210.213% of the position
Funding, last 7 days−0.612%−$61 on $10k
+Price spread, last 4 days (all we have)−0.067%−$7 · spread now +0.006%, 7d avg −0.056%
=Together, before fees−0.679%+ Points / potential airdropHibachi: Active · farm board−$68 on $10k · with fees, hour by hour
The price spread pays, funding is against you. Bluefin is 0.062% dearer against Hibachi than usual: you sell high and buy low (spread +0.006% now, against its 7-day average of −0.056%): +$6 on $10k if it goes back. Holding the pair costs −$4 a day in funding at the current rate, which eats that in about 38 hours. At the pace of the last 7 days (−0.612% in total) that is about 17 hours.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Hibachi BTC/USDT-P | 85,402.6 | 0.0232 | pay 0.0029% / 1h | 45m 17s | $695K | $7.9M | 30x |
| Short | Bluefin BTC-PERP | 85,407.9 | 0.0100 | get 0.0013% / 1h | 45m 17s | $206K | $739K | 40x |
Hibachi BTC/USDT-P
Bluefin BTC-PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Bluefin against Hibachi. 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
- −$27.72
- Price spread: +0.006% → −0.056%
- $6.2
- Slippage, 4 orders
- −$5.29
- Fee Hibachi: 4.5 bp × 2 orders
- −$9
- Fee Bluefin: 3.5 bp × 2 orders
- −$7
- Net
- −$42.81
- Costs to cover
- 0.213%
- Break-even
- never at this rate
Slippage from Hibachi: live order book, 4 min ago; Bluefin: 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 Hibachi live order book, 4 min ago | 0.01 bp | 4.9 bp −$5 | 6.1 bp −$61 | 41.8 bp −$4,183 | doesn't fit |
| Sell Bluefin live order book, 4 min ago | 1.33 bp | 5.4 bp −$5 | 9.9 bp −$99 | doesn't fit | 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 | |
|---|---|---|---|---|---|---|---|---|
| Perpl BTC | −0.0112% | 43m | 85,387.9 | −0.017% | $532K | $18.8M | 6.7x | as long as short |
| Phoenix BTC | −0.0111% | 1h | 85,377 | −0.030% | $2.1M | $10.4M | 40x | as long as short |
| Hotstuff BTC-PERP | −0.0080% | 1h | 85,398 | −0.005% | $8K | $3K | 50x | as long as short |
| KuCoin XBTUSDTM | −0.0054% | 8h | 85,372.2 | −0.036% | $920.0M | $761.0M | 125x | as long as short |
| BloFin BTC-USDT | −0.0032% | 8h | 85,359.2 | −0.051% | $420.3M | $677.9M | 150x | as long as short |
| 01 Exchange BTCUSD | −0.0032% | 1h | 85,389.2 | −0.016% | $381K | $2.3M | 50x | as long as short |
| Aster BTCUSDT | −0.0013% | 8h | 85,350.6 | −0.061% | $513.5M | $1.10B | 200x | as long as short |
| dYdX BTC-USD | +0.0002% | 1h | 85,407.8 | +0.006% | $16.8M | $21.3M | 50x | as long as short |
| gTrade (Gains Network) BTC/USD | L +0.0004% / S −0.0004% | 1h | 85,385.1 | −0.020% | $36.5M | — | 200x | as long as short |
| Nado BTC-PERP | +0.0010% | 1h | 85,383.4 | −0.023% | $24.6M | $223.9M | 50x | as long as short |
Perpl BTC
Phoenix BTC
Hotstuff BTC-PERP
KuCoin XBTUSDTM
BloFin BTC-USDT
01 Exchange BTCUSD
Aster BTCUSDT
dYdX BTC-USD
gTrade (Gains Network) BTC/USD
Nado BTC-PERPShow all 56 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Injective BTC/USDC PERP | +0.0023% | 1h | 85,449 | +0.054% | $339K | $26.8M | 52x | as long as short |
| Kraken Futures PF_XBTUSD | +0.0056% | 1h | 85,380.9 | −0.025% | $187.9M | $955.1M | 100x | as long as short |
| SoDEX BTC-USD | +0.0058% | 1h | 85,353 | −0.058% | $59.8M | $335.8M | 40x | as long as short |
| BingX BTC-USDT | +0.0065% | 8h | 85,371.4 | −0.037% | — | $1.55B | — | as long as short |
| Bullet BTC-USD | +0.0067% | 1h | 85,377 | −0.030% | $202K | $3.3M | 20x | as long as short |
| Phemex BTCUSDT | +0.0071% | 8h | 85,361.8 | −0.048% | $149.3M | $501.3M | 150x | as long as short |
| Bitget BTCUSDT | +0.0081% | 8h | 85,367.1 | −0.042% | $2.95B | $5.15B | 150x | as long as short |
| ApeX Omni BTCUSDT | +0.0086% | 1h | 85,404.9 | +0.003% | $139.6M | $315.1M | 100x | as long as short |
| Binance BTCUSDT | +0.0088% | 8h | 85,357.2 | −0.053% | $9.43B | $24.73B | 150x | as long as short |
| Aevo BTC-PERP | +0.0088% | 1h | 85,352.1 | −0.059% | $2.4M | $6.7M | 20x | as long as short |
| MEXC BTC_USDT | +0.0089% | 8h | 85,381.4 | −0.025% | $5.07B | $5.67B | 500x | as long as short |
| Lighter BTC | +0.0096% | 1h | 85,373.5 | −0.034% | $171.7M | $1.01B | 50x | as long as short |
| Lighter RH BTC | +0.0096% | 1h | 85,375.4 | −0.032% | $23.8M | $147.4M | 50x | as long as short |
| Popdex BTCUSDT | +0.0096% | 1h | 85,378 | −0.029% | $8.4M | $55.4M | 100x | as long as short |
| Coinbase International BTC-PERP-INTX | +0.0096% | 1h | 85,399.9 | −0.003% | $116.9M | $5.31B | 50x | as long as short |
| Katana Perps BTC-USD | +0.0100% | 8h | 85,358 | −0.052% | $238K | $8.5M | 50x | as long as short |
| Paradex BTC-USD-PERP | +0.0100% | 8h | 85,435.5 | +0.038% | $5.6M | $9.4M | 50x | as long as short |
| Hyperliquid BTC | +0.0100% | 1h | 85,460.4 | +0.068% | $3.78B | $5.04B | 40x | as long as short |
| Pacifica BTC | +0.0100% | 1h | 85,415.4 | +0.015% | $40.1M | $595.0M | 50x | as long as short |
| Bybit BTCUSDT | +0.0100% | 8h | 85,357.8 | −0.052% | $5.17B | $9.89B | 150x | as long as short |
| OKX BTC-USDT-SWAP | +0.0100% | 8h | 85,367.1 | −0.042% | $2.59B | $12.14B | 100x | as long as short |
| Ondo Perps BTC-USD.P | +0.0100% | 1h | 85,387 | −0.018% | $3.8M | $17.6M | 25x | as long as short |
| Arcus BTC-USD | +0.0100% | 1h | 85,385.7 | −0.020% | $4.7M | $99.1M | 40x | as long as short |
| Gate BTC_USDT | +0.0100% | 8h | 85,388.2 | −0.017% | $5.53B | $10.81B | 200x | as long as short |
| Backpack BTC_USDC_PERP | +0.0100% | 1h | 85,353.1 | −0.058% | $36.5M | $174.6M | 75x | as long as short |
| Variational Omni BTC | +0.0100% | 8h | 85,345 | −0.067% | $154.3M | $564.9M | — | as long as short |
| edgeX BTCUSDC | +0.0100% | 4h | 85,396.2 | −0.007% | $279.4M | $939.8M | 100x | as long as short |
| GRVT BTC_USDT_Perp | +0.0100% | 8h | 85,392.8 | −0.012% | $214.6M | $169.0M | 50x | as long as short |
| StandX BTC-USD | +0.0100% | 1h | 85,355.6 | −0.055% | $30.1M | $206.3M | 40x | as long as short |
| Vest BTC-PERP | +0.0100% | 1h | 85,440.4 | +0.044% | — | $10.9M | 50x | as long as short |
| Polymarket Perps BTC-USD | +0.0100% | 1h | 85,382 | −0.024% | $11.1M | $14.4M | 50x | as long as short |
| Orderly PERP_BTC_USDC | +0.0100% | 8h | 85,362.7 | −0.047% | $2.3M | $9.0M | 100x | as long as short |
| Bluefin BTC-PERPshort | +0.0100% | 1h | 85,407.9 | +0.006% | $206K | $739K | 40x | |
| Derive BTC-PERP | +0.0100% | 1h | 85,342.7 | −0.070% | $30.0M | $50.3M | 15x | as long as short |
| SunX BTC-USDT | +0.0100% | 8h | 85,345.7 | −0.067% | $2.9M | $6.1M | 100x | as long as short |
| HTX BTC-USDT | +0.0100% | 8h | 85,362.8 | −0.047% | $2.26B | $952.1M | 200x | as long as short |
| Bulk BTC-USD | +0.0100% | 1h | 85,429 | +0.031% | $679.8M | $655.7M | 40x | as long as short |
| Deribit BTC-PERPETUAL | +0.0104% | 1h | 85,403.8 | +0.001% | $872.2M | $1.60B | 50x | as long as short |
| Extended BTC-USD | +0.0104% | 1h | 85,330.6 | −0.084% | $45.7M | $236.2M | 50x | as long as short |
| Jupiter Perps WBTC-PERP | L +0.0104% / S +0.0048% | 1h | 85,395.4 | −0.008% | — | $106.8M | 500x | as long as short |
| Reya BTCRUSDPERP | +0.0110% | 1h | 85,374.6 | −0.033% | $6.6M | $147.3M | 40x | as long as short |
| GMX BTC/USD [WBTC.b-USDC] | L +0.0176% / S −0.0151% | 1h | 85,383.5 | −0.022% | $13.0M | — | 200x | as long as short |
| Kalshi KXBTCPERP | +0.0179% | 8h | 85,413 | +0.012% | $11.4M | $749.4M | 6.4x | as long as short |
| Hibachi BTC/USDT-Plong | +0.0232% | 1h | 85,402.6 | long leg | $695K | $7.9M | 30x | |
| Aftermath Perps BTCUSD | +0.0237% | 1h | 85,425.9 | +0.027% | $79K | $225K | 20x | as long as short |
| RISEx BTC/USDC | +0.0257% | 1h | 85,416 | +0.016% | $8.8M | $43.1M | 25x | as long as short |
Injective BTC/USDC PERP
Kraken Futures PF_XBTUSD
SoDEX BTC-USD
BingX BTC-USDT
Bullet BTC-USD
Phemex BTCUSDT
Bitget BTCUSDT
ApeX Omni BTCUSDT
Binance BTCUSDT
Aevo BTC-PERP
MEXC BTC_USDT
Lighter BTC
Lighter RH BTC
Popdex BTCUSDT
Coinbase International BTC-PERP-INTX
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
Orderly PERP_BTC_USDC
Derive BTC-PERP
SunX BTC-USDT
HTX BTC-USDT
Bulk BTC-USD
Deribit BTC-PERPETUAL
Extended BTC-USD
Jupiter Perps WBTC-PERP
Reya BTCRUSDPERP
GMX BTC/USD [WBTC.b-USDC]
Kalshi KXBTCPERP
Aftermath Perps BTCUSD
RISEx BTC/USDC