BTC

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0064%/8h= −7.0% APRnext payment −$0.08 per $10,000 · paid last 24h −0.081%

Price spread now: Jupiter Perps against Hibachi+0.007%7-day average −0.031% · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Hibachi Short on Jupiter Perps

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.253%−$25 on $10k

Price spread, last 3 days (all we have)−0.061%−$6 · spread now +0.007%, 7d avg −0.031%

Together, before fees−0.313%+ Points / potential airdropHibachi: Active · farm board−$31 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Jupiter Perps is 0.038% dearer against Hibachi than usual: you sell high and buy low (spread +0.007% now, against its 7-day average of −0.031%): +$4 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 48 hours. At the pace of the last 3 days (−0.253% in total) that is about 11 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hibachi BTC/USDT-P	86,550.4	0.0016	pay 0.0002% / 1h	47m 18s	$727K	$8.1M	30x
Short	Jupiter Perps WBTC-PERP	86,556.2	L +0.0104% / S +0.0048%	pay 0.0006% / 1h	47m 18s	—	$98.7M	500x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

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

latest

Price spreadloading…

Funding on every exchange

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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 Jupiter PerpsbpOrdersPrice spread, now +0.007%Rate

Funding earned: −$13.44
Price spread: +0.007% → −0.031%: $3.8
Slippage, 4 orders: no order book: not counted
Fee Hibachi: 4.5 bp × 2 orders: −$9
Fee Jupiter Perps: 6 bp × 2 orders: −$12
Net: −$30.64
Costs to cover: 0.210%
Break-even: never at this rate

Slippage unknown: Hibachi: live order book, 2 min ago; Jupiter Perps: no order-book sample. 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 Hibachi live order book, 2 min ago	0.01 bp	4.5 bp −$5	4.5 bp −$45	41.4 bp −$4,141	doesn't fit
Sell Jupiter Perps no order-book sample	—	—	—	—	—

Jupiter Perps: 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 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
Bluefin BTC-PERP	−0.1760%	1h	86,556.4	+0.007%	$140K	$618K	40x	as long as short
Aftermath Perps BTCUSD	−0.0191%	1h	86,577.1	+0.031%	$79K	$199K	20x	as long as short
Phoenix BTC	−0.0159%	1h	86,518	−0.037%	$2.2M	$11.8M	40x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	86,570	+0.023%	$9K	$3K	50x	as long as short
dYdX BTC-USD	−0.0019%	1h	86,587.1	+0.042%	$17.5M	$20.3M	50x	as long as short
01 Exchange BTCUSD	−0.0008%	1h	86,596.3	+0.053%	$359K	$2.4M	50x	as long as short
Aster BTCUSDT	−0.0008%	8h	86,558.5	+0.009%	$505.3M	$1.15B	200x	as long as short
Perpl BTC	0.0000%	43m	86,585.6	+0.041%	$418K	$24.1M	6.7x	as long as short
KuCoin XBTUSDTM	+0.0003%	8h	86,572.5	+0.026%	$851.6M	$708.7M	125x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0005% / S −0.0004%	1h	86,558.9	+0.010%	$36.8M	—	200x	as long as short

Show all 56 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
RISEx BTC/USDC	+0.0006%	1h	86,579.4	+0.034%	$8.6M	$43.2M	25x	as long as short
Hibachi BTC/USDT-Plong	+0.0016%	1h	86,550.4	long leg	$727K	$8.1M	30x
Reya BTCRUSDPERP	+0.0022%	1h	86,550.4	0.000%	$6.7M	$144.7M	40x	as long as short
Injective BTC/USDC PERP	+0.0024%	1h	86,559	+0.010%	$315K	$26.8M	52x	as long as short
Phemex BTCUSDT	+0.0026%	8h	86,532.8	−0.020%	$149.6M	$472.9M	150x	as long as short
BingX BTC-USDC	+0.0030%	8h	86,540.4	−0.012%	—	$15.3M	—	as long as short
Bitget BTCUSDT	+0.0040%	8h	86,534.5	−0.018%	$2.95B	$5.08B	150x	as long as short
Deribit BTC-PERPETUAL	+0.0043%	1h	86,573.8	+0.027%	$925.2M	$1.47B	50x	as long as short
Aevo BTC-PERP	+0.0056%	1h	86,532.1	−0.021%	$2.4M	$1.3M	20x	as long as short
MEXC BTC_USDT	+0.0058%	8h	86,538.9	−0.013%	$5.19B	$5.62B	500x	as long as short
Binance BTCUSDT	+0.0058%	8h	86,539.7	−0.012%	$9.42B	$24.35B	150x	as long as short
SoDEX BTC-USD	+0.0073%	1h	86,533	−0.020%	$60.5M	$336.8M	40x	as long as short
Gate BTC_USDT	+0.0084%	8h	86,529.5	−0.024%	$5.85B	$10.63B	200x	as long as short
Popdex BTCUSDT	+0.0088%	1h	86,583	+0.038%	$8.5M	$52.2M	100x	as long as short
Bybit BTCUSDT	+0.0088%	8h	86,537.6	−0.015%	$5.27B	$9.72B	150x	as long as short
Nado BTC-PERP	+0.0092%	1h	86,569.2	+0.022%	$21.7M	$233.5M	50x	as long as short
Lighter BTC	+0.0096%	1h	86,574.5	+0.028%	$172.3M	$998.4M	50x	as long as short
Lighter RH BTC	+0.0096%	1h	86,587.5	+0.043%	$24.0M	$151.6M	50x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	86,569	+0.022%	$206K	$6.9M	50x	as long as short
Paradex BTC-USD-PERP	+0.0100%	8h	86,609.7	+0.069%	$4.7M	$8.3M	50x	as long as short
Hyperliquid BTC	+0.0100%	1h	86,628	+0.090%	$3.81B	$5.09B	40x	as long as short
Pacifica BTC	+0.0100%	1h	86,600.9	+0.058%	$40.9M	$504.7M	50x	as long as short
OKX BTC-USDT-SWAP	+0.0100%	8h	86,536	−0.017%	$2.55B	$12.69B	100x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	86,572	+0.025%	$3.9M	$18.6M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	86,648.3	+0.113%	$7.4M	$93.9M	40x	as long as short
Bulk BTC-USD	+0.0100%	1h	86,527.4	−0.027%	$571.7M	$19.3M	40x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	86,523.4	−0.031%	$38.2M	$153.0M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	86,521.5	−0.033%	$156.7M	$571.1M	—	as long as short
edgeX BTCUSDC	+0.0100%	4h	86,522.6	−0.032%	$279.4M	$942.8M	100x	as long as short
GRVT BTC_USDT_Perp	+0.0100%	8h	86,535.2	−0.018%	$217.1M	$182.2M	50x	as long as short
ApeX Omni BTCUSDT	+0.0100%	1h	86,530.4	−0.023%	$141.4M	$322.9M	100x	as long as short
StandX BTC-USD	+0.0100%	1h	86,556	+0.006%	$30.7M	$203.1M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	86,616.2	+0.076%	—	$11.6M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	86,580	+0.034%	$11.1M	$13.6M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	86,539.9	−0.012%	$193K	$3.3M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	86,544.2	−0.007%	$2.4M	$8.6M	100x	as long as short
Derive BTC-PERP	+0.0100%	1h	86,537	−0.016%	$30.0M	$61.6M	15x	as long as short
SunX BTC-USDT	+0.0100%	8h	86,549.5	−0.001%	$3.4M	$5.4M	100x	as long as short
HTX BTC-USDT	+0.0100%	8h	86,512.2	−0.044%	$2.30B	$959.1M	200x	as long as short
Extended BTC-USD	+0.0104%	1h	86,516.8	−0.039%	$46.4M	$225.0M	50x	as long as short
Jupiter Perps WBTC-PERPshort	L +0.0104% / S +0.0048%	1h	86,556.2	+0.007%	—	$98.7M	500x
Coinbase International BTC-PERP-INTX	+0.0112%	1h	86,574	+0.027%	$132.1M	$5.74B	50x	as long as short
Kraken Futures PF_XBTUSD	+0.0121%	1h	86,565.4	+0.017%	$191.3M	$936.7M	100x	as long as short
BloFin BTC-USDT	+0.0179%	8h	86,543.4	−0.008%	$415.3M	$654.6M	150x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0180% / S −0.0208%	1h	86,554	+0.004%	$15.1M	—	200x	as long as short
Kalshi KXBTCPERP	+0.0188%	8h	86,559	+0.010%	$9.6M	$725.9M	6.4x	as long as short