BTC

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0092%/8h= −10.1% APRnext payment −$0.12 per $10,000 · paid last 24h −0.044%

Price spread now: SoDEX against Hibachi+0.022%7-day average −0.046% · 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−$11as in the Price arb table

costs, in and out, $10k−$180.176% of the position

Long on Hibachi Short on SoDEX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.141%−$14 on $10k

Price spread, last 3 days (all we have)−0.080%−$8 · spread now +0.022%, 7d avg −0.046%

Together, before fees−0.221%+ Points / potential airdropHibachi: Active · farm board−$22 on $10k · with fees, hour by hour

The price spread pays, funding is against you. SoDEX is 0.068% dearer against Hibachi than usual: you sell high and buy low (spread +0.022% now, against its 7-day average of −0.046%): +$7 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 2.5 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hibachi BTC/USDT-P	85,578.3	0.0192	pay 0.0024% / 1h	52m 00s	$682K	$7.8M	30x
Short	SoDEX BTC-USD	85,597	0.0100	get 0.0013% / 1h	52m 00s	$59.9M	$336.3M	40x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SoDEX 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 SoDEXbpOrdersPrice spread, now +0.022%Rate

Funding earned: −$19.32
Price spread: +0.022% → −0.046%: $6.77
Slippage, 4 orders: −$0.64
Fee Hibachi: 4.5 bp × 2 orders: −$9
Fee SoDEX: 4 bp × 2 orders: −$8
Net: −$30.2
Costs to cover: 0.176%
Break-even: never at this rate

Slippage from Hibachi: live order book, 2 min ago; SoDEX: 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	5.1 bp −$51	40.8 bp −$4,082	doesn't fit
Sell SoDEX live order book, 2 min ago	0.06 bp	4.1 bp −$4	4.1 bp −$41	5.1 bp −$513	42.6 bp −$21.3K

BTC on 55 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	−0.0160%	1h	85,538	−0.047%	$2.2M	$10.3M	40x	as long as short
ApeX Omni BTCUSDT	−0.0123%	1h	85,466.5	−0.131%	$139.7M	$316.3M	100x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	85,516	−0.073%	$8K	$3K	50x	as long as short
01 Exchange BTCUSD	−0.0056%	1h	85,585.7	+0.009%	$365K	$2.3M	50x	as long as short
Nado BTC-PERP	−0.0015%	1h	85,596.1	+0.021%	$22.6M	$221.5M	50x	as long as short
dYdX BTC-USD	0.0000%	1h	85,587.1	+0.010%	$16.7M	$20.9M	50x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0004% / S −0.0004%	1h	85,609.4	+0.036%	$36.7M	—	200x	as long as short
KuCoin XBTUSDTM	+0.0018%	8h	85,582.9	+0.005%	$905.6M	$746.8M	125x	as long as short
Aster BTCUSDT	+0.0019%	8h	85,594.6	+0.019%	$516.0M	$1.11B	200x	as long as short
BingX BTC-USDC	+0.0054%	8h	85,597.7	+0.023%	—	$17.0M	—	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX BTC-USDT	+0.0064%	8h	85,585	+0.008%	$2.27B	$929.9M	200x	as long as short
Reya BTCRUSDPERP	+0.0064%	1h	85,574.2	−0.005%	$6.7M	$146.4M	40x	as long as short
Bitget BTCUSDT	+0.0067%	8h	85,599.9	+0.025%	$2.95B	$5.01B	150x	as long as short
Injective BTC/USDC PERP	+0.0079%	1h	85,617	+0.045%	$340K	$26.9M	52x	as long as short
Aevo BTC-PERP	+0.0080%	1h	85,586.8	+0.010%	$2.5M	$1.7M	20x	as long as short
SunX BTC-USDT	+0.0080%	8h	85,567.9	−0.012%	$2.9M	$6.2M	100x	as long as short
MEXC BTC_USDT	+0.0083%	8h	85,602.7	+0.029%	$5.07B	$5.57B	500x	as long as short
Binance BTCUSDT	+0.0084%	8h	85,604.5	+0.031%	$9.34B	$23.82B	150x	as long as short
Lighter BTC	+0.0096%	1h	85,605.4	+0.032%	$169.8M	$983.5M	50x	as long as short
Lighter RH BTC	+0.0096%	1h	85,612.1	+0.039%	$24.0M	$147.2M	50x	as long as short
Popdex BTCUSDT	+0.0096%	1h	85,580	+0.002%	$8.4M	$51.5M	100x	as long as short
Paradex BTC-USD-PERP	+0.0099%	8h	85,637.5	+0.069%	$3.8M	$8.3M	50x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	85,559	−0.023%	$204K	$7.6M	50x	as long as short
Hyperliquid BTC	+0.0100%	1h	85,670	+0.107%	$3.76B	$4.91B	40x	as long as short
Pacifica BTC	+0.0100%	1h	85,621.5	+0.050%	$40.1M	$571.6M	50x	as long as short
Bybit BTCUSDT	+0.0100%	8h	85,609.6	+0.037%	$5.33B	$9.57B	150x	as long as short
OKX BTC-USDT-SWAP	+0.0100%	8h	85,616.1	+0.044%	$2.56B	$12.11B	100x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	85,611	+0.038%	$3.9M	$17.8M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	85,541.6	−0.043%	$7.2M	$96.5M	40x	as long as short
Bulk BTC-USD	+0.0100%	1h	85,482.5	−0.112%	$608.2M	$317.1M	40x	as long as short
Gate BTC_USDT	+0.0100%	8h	85,617.6	+0.046%	$5.57B	$10.40B	200x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	85,599.9	+0.025%	$34.8M	$170.3M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	85,577.1	−0.001%	$153.7M	$552.3M	—	as long as short
edgeX BTCUSDC	+0.0100%	4h	85,494.5	−0.098%	$278.1M	$928.1M	100x	as long as short
GRVT BTC_USDT_Perp	+0.0100%	8h	85,468	−0.129%	$214.5M	$161.4M	50x	as long as short
StandX BTC-USD	+0.0100%	1h	85,524.1	−0.063%	$30.2M	$211.1M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	85,627.9	+0.058%	—	$11.8M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	85,578	0.000%	$11.0M	$14.0M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	85,607.7	+0.034%	$188K	$3.3M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	85,585.6	+0.009%	$2.4M	$8.9M	100x	as long as short
Bluefin BTC-PERP	+0.0100%	1h	85,636.5	+0.068%	$197K	$722K	40x	as long as short
Derive BTC-PERP	+0.0100%	1h	85,591.9	+0.016%	$30.0M	$52.7M	15x	as long as short
SoDEX BTC-USDshort	+0.0100%	1h	85,597	+0.022%	$59.9M	$336.3M	40x
Phemex BTCUSDT	+0.0100%	8h	85,599.7	+0.025%	$149.0M	$479.4M	150x	as long as short
Extended BTC-USD	+0.0104%	1h	85,574.1	−0.005%	$44.2M	$226.6M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0056%	1h	85,587.9	+0.011%	—	$104.4M	500x	as long as short
Coinbase International BTC-PERP-INTX	+0.0112%	1h	85,648	+0.081%	$130.6M	$5.06B	50x	as long as short
RISEx BTC/USDC	+0.0120%	1h	85,608	+0.035%	$8.3M	$42.2M	25x	as long as short
Kraken Futures PF_XBTUSD	+0.0138%	1h	85,631.7	+0.062%	$187.2M	$949.0M	100x	as long as short
Aftermath Perps BTCUSD	+0.0191%	1h	85,582.1	+0.004%	$78K	$219K	20x	as long as short
Hibachi BTC/USDT-Plong	+0.0192%	1h	85,578.3	long leg	$682K	$7.8M	30x
GMX BTC/USD [WBTC.b-USDC]	L +0.0203% / S −0.0181%	1h	85,615	+0.043%	$13.6M	—	200x	as long as short
Kalshi KXBTCPERP	+0.0211%	8h	85,620	+0.049%	$10.4M	$760.1M	6.4x	as long as short
Deribit BTC-PERPETUAL	+0.0228%	1h	85,648.9	+0.083%	$894.9M	$1.52B	50x	as long as short
Perpl BTC	+0.0447%	43m	85,606.6	+0.033%	$509K	$19.6M	6.7x	as long as short