Funding you earn now, next payment 07:00 UTC−0.0119%/8h= −13.0% APRpaid last 24h −0.032%
Price spread now: Bybit against Hibachi−0.042%55s7-day average −0.037% · you buy dearer than you sell
Net, funding: paid 7d − costs−$56as in the Funding arb table
Net, price: spread back to 7d avg − costs—prices read too far apart to compare
costs, in and out, $10k−$200.204% of the position
Funding, last 7 days−0.355%−$36 on $10k
+Price spread, last 7 days−0.014%−$1 · spread now −0.042%, 7d avg −0.037%
=Together, before fees−0.369%+ Points / potential airdropHibachi: Active · farm board−$37 on $10k · with fees, hour by hour
The price spread sits at its 7-day average of −0.037%, so right now this pair is about funding alone: −$4 a day on $10k at the current rate. The two prices were read 55 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 | Hibachi BTC/USDT-P | 85,374.7 | 0.0208 | pay 0.0026% / 1h | 59m 35s | $684K | $7.8M | 30x |
| Short | Bybit BTCUSDT | 85,338.8 | 0.0089 | get 0.0089% / 8h | 59m 35s | $5.13B | $9.97B | 150x |
Hibachi BTC/USDT-P
Bybit BTCUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Bybit 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
- −$24.89
- Price spread: −0.042% → −0.037%
- −$0.5
- Slippage, 4 orders
- −$0.4
- Fee Hibachi: 4.5 bp × 2 orders
- −$9
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Net
- −$45.78
- Costs to cover
- 0.204%
- Break-even
- never at this rate
Slippage from Hibachi: live order book, 5 min ago; Bybit: live order book, 5 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, 5 min ago | 0.01 bp | 4.6 bp −$5 | 4.6 bp −$46 | 40.1 bp −$4,006 | doesn't fit |
| Sell Bybit live order book, 5 min ago | 0.01 bp | 5.5 bp −$6 | 5.5 bp −$55 | 5.9 bp −$588 | 7.2 bp −$3,618 |
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 | 85,415 | +0.047% | $2.3M | $10.4M | 40x | as long as short |
| Hotstuff BTC-PERP | −0.0080% | 1h | 85,350 | −0.029% | $8K | $3K | 50x | as long as short |
| KuCoin XBTUSDTM | −0.0031% | 8h | 85,340.4 | −0.040% | $928.4M | $773.2M | 125x | as long as short |
| BloFin BTC-USDT | −0.0023% | 8h | 85,336.6 | −0.045% | $420.9M | $680.7M | 150x | as long as short |
| Aster BTCUSDT | −0.0005% | 8h | 85,343 | −0.037% | $512.2M | $1.09B | 200x | as long as short |
| Perpl BTC | 0.0000% | 43m | 85,343.9 | −0.036% | $491K | $18.3M | 6.7x | as long as short |
| Deribit BTC-PERPETUAL | 0.0000% | 1h | 85,392.5 | +0.021% | $847.8M | $1.65B | 50x | as long as short |
| dYdX BTC-USD | +0.0001% | 1h | 85,384.6 | +0.012% | $16.7M | $21.0M | 50x | as long as short |
| gTrade (Gains Network) BTC/USD | L +0.0004% / S −0.0004% | 1h | 85,384.6 | +0.012% | $36.5M | — | 200x | as long as short |
| 01 Exchange BTCUSD | +0.0008% | 1h | 85,359.3 | −0.018% | $352K | $2.3M | 50x | as long as short |
Phoenix BTC
Hotstuff BTC-PERP
KuCoin XBTUSDTM
BloFin BTC-USDT
Aster BTCUSDT
Perpl BTC
Deribit BTC-PERPETUAL
dYdX BTC-USD
gTrade (Gains Network) BTC/USD
01 Exchange BTCUSDShow all 56 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Nado BTC-PERP | +0.0049% | 1h | 85,319.1 | −0.065% | $24.1M | $219.6M | 50x | as long as short |
| Injective BTC/USDC PERP | +0.0057% | 1h | 85,374 | −0.001% | $338K | $26.8M | 52x | as long as short |
| BingX BTC-USDT | +0.0073% | 8h | 85,347.2 | −0.032% | — | $1.57B | — | as long as short |
| Kraken Futures PF_XBTUSD | +0.0089% | 1h | 85,382.1 | +0.009% | $185.8M | $952.0M | 100x | as long as short |
| Bybit BTCUSDTshort | +0.0089% | 8h | 85,338.8 | −0.042% | $5.13B | $9.97B | 150x | |
| Bitget BTCUSDT | +0.0091% | 8h | 85,339.3 | −0.041% | $2.96B | $5.16B | 150x | as long as short |
| SoDEX BTC-USD | +0.0093% | 1h | 85,368 | −0.008% | $59.7M | $336.6M | 40x | as long as short |
| Lighter BTC | +0.0096% | 1h | 85,355.3 | −0.023% | $169.8M | $1.01B | 50x | as long as short |
| Lighter RH BTC | +0.0096% | 1h | 85,359.7 | −0.018% | $23.5M | $149.3M | 50x | as long as short |
| Popdex BTCUSDT | +0.0096% | 1h | 85,348 | −0.031% | $8.4M | $57.2M | 100x | as long as short |
| MEXC BTC_USDT | +0.0096% | 8h | 85,347.3 | −0.032% | $5.03B | $5.70B | 500x | as long as short |
| Aevo BTC-PERP | +0.0096% | 1h | 85,361 | −0.016% | $2.4M | $6.7M | 20x | as long as short |
| Binance BTCUSDT | +0.0096% | 8h | 85,347.3 | −0.032% | $9.42B | $24.88B | 150x | as long as short |
| Katana Perps BTC-USD | +0.0100% | 8h | 85,328 | −0.055% | $245K | $8.6M | 50x | as long as short |
| Paradex BTC-USD-PERP | +0.0100% | 8h | 85,391.8 | +0.020% | $5.8M | $9.5M | 50x | as long as short |
| Hyperliquid BTC | +0.0100% | 1h | 85,425 | +0.059% | $3.74B | $5.06B | 40x | as long as short |
| Pacifica BTC | +0.0100% | 1h | 85,378.1 | +0.004% | $39.9M | $605.4M | 50x | as long as short |
| OKX BTC-USDT-SWAP | +0.0100% | 8h | 85,356.4 | −0.021% | $2.60B | $12.18B | 100x | as long as short |
| Ondo Perps BTC-USD.P | +0.0100% | 1h | 85,340 | −0.041% | $3.8M | $17.1M | 25x | as long as short |
| Arcus BTC-USD | +0.0100% | 1h | 85,346.5 | −0.033% | $5.1M | $96.0M | 40x | as long as short |
| Bulk BTC-USD | +0.0100% | 1h | 85,324.1 | −0.059% | $690.8M | $302.3M | 40x | as long as short |
| Gate BTC_USDT | +0.0100% | 8h | 85,349.4 | −0.030% | $5.54B | $10.97B | 200x | as long as short |
| Backpack BTC_USDC_PERP | +0.0100% | 1h | 85,355.4 | −0.023% | $37.2M | $183.4M | 75x | as long as short |
| Variational Omni BTC | +0.0100% | 8h | 85,299.4 | −0.088% | $156.2M | $556.9M | — | as long as short |
| edgeX BTCUSDC | +0.0100% | 4h | 85,330.6 | −0.052% | $279.6M | $954.6M | 100x | as long as short |
| GRVT BTC_USDT_Perp | +0.0100% | 8h | 85,342.1 | −0.038% | $214.2M | $158.7M | 50x | as long as short |
| ApeX Omni BTCUSDT | +0.0100% | 1h | 85,333.7 | −0.048% | $139.5M | $313.1M | 100x | as long as short |
| StandX BTC-USD | +0.0100% | 1h | 85,355.8 | −0.022% | $30.1M | $207.7M | 40x | as long as short |
| Vest BTC-PERP | +0.0100% | 1h | 85,414 | +0.046% | — | $9.9M | 50x | as long as short |
| Polymarket Perps BTC-USD | +0.0100% | 1h | 85,376 | +0.002% | $11.0M | $14.7M | 50x | as long as short |
| Bullet BTC-USD | +0.0100% | 1h | 85,374.4 | 0.000% | $199K | $3.3M | 20x | as long as short |
| Orderly PERP_BTC_USDC | +0.0100% | 8h | 85,364.1 | −0.012% | $2.6M | $9.8M | 100x | as long as short |
| Bluefin BTC-PERP | +0.0100% | 1h | 85,400.6 | +0.030% | $194K | $795K | 40x | as long as short |
| Derive BTC-PERP | +0.0100% | 1h | 85,383.8 | +0.011% | $30.0M | $46.1M | 15x | as long as short |
| SunX BTC-USDT | +0.0100% | 8h | 85,325 | −0.058% | $2.9M | $6.1M | 100x | as long as short |
| HTX BTC-USDT | +0.0100% | 8h | 85,366.7 | −0.009% | $2.26B | $963.2M | 200x | as long as short |
| Phemex BTCUSDT | +0.0100% | 8h | 85,379.1 | +0.005% | $157.7M | $512.4M | 150x | as long as short |
| Extended BTC-USD | +0.0104% | 1h | 85,315 | −0.070% | $45.2M | $240.1M | 50x | as long as short |
| Jupiter Perps WBTC-PERP | L +0.0104% / S +0.0056% | 1h | 85,335.2 | −0.046% | — | $104.3M | 500x | as long as short |
| Coinbase International BTC-PERP-INTX | +0.0104% | 1h | 85,397.8 | +0.027% | $113.1M | $5.48B | 50x | as long as short |
| Reya BTCRUSDPERP | +0.0135% | 1h | 85,361.4 | −0.016% | $6.6M | $147.2M | 40x | as long as short |
| Kalshi KXBTCPERP | +0.0173% | 8h | 85,382 | +0.009% | $11.9M | $738.9M | 6.4x | as long as short |
| GMX BTC/USD [WBTC.b-USDC] | L +0.0175% / S −0.0147% | 1h | 85,382 | +0.009% | $13.0M | — | 200x | as long as short |
| RISEx BTC/USDC | +0.0193% | 1h | 85,377.3 | +0.003% | $8.8M | $42.7M | 25x | as long as short |
| Hibachi BTC/USDT-Plong | +0.0208% | 1h | 85,374.7 | long leg | $684K | $7.8M | 30x | |
| Aftermath Perps BTCUSD | +0.0283% | 1h | 85,405.3 | +0.036% | $79K | $246K | 20x | as long as short |
Nado BTC-PERP
Injective BTC/USDC PERP
BingX BTC-USDT
Kraken Futures PF_XBTUSD
Bitget BTCUSDT
SoDEX BTC-USD
Lighter BTC
Lighter RH BTC
Popdex BTCUSDT
MEXC BTC_USDT
Aevo BTC-PERP
Binance BTCUSDT
Katana Perps BTC-USD
Paradex BTC-USD-PERP
Hyperliquid BTC
Pacifica BTC
OKX BTC-USDT-SWAP
Ondo Perps BTC-USD.P
Arcus BTC-USD
Bulk BTC-USD
Gate BTC_USDT
Backpack BTC_USDC_PERP
Variational Omni BTC
edgeX BTCUSDC
GRVT BTC_USDT_Perp
ApeX Omni BTCUSDT
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
HTX BTC-USDT
Phemex BTCUSDT
Extended BTC-USD
Jupiter Perps WBTC-PERP
Coinbase International BTC-PERP-INTX
Reya BTCRUSDPERP
Kalshi KXBTCPERP
GMX BTC/USD [WBTC.b-USDC]
RISEx BTC/USDC
Aftermath Perps BTCUSD