BTC

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0248%/8h= −27.2% APRnext payment −$0.31 per $10,000 · paid last 24h −0.068%

Price spread now: 01 Exchange against Hibachi−0.079%7-day average −0.041% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$23as in the Price arb table

costs, in and out, $10k−$190.192% of the position

Long on Hibachi Short on 01 Exchange

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.217%−$22 on $10k

Price spread, last 7 days+0.044%+$4 · spread now −0.079%, 7d avg −0.041%

Together, before fees−0.173%+ Points / potential airdropHibachi: Active · farm board−$17 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$7 a day on $10k at the current rate, and 01 Exchange is 0.037% cheaper against Hibachi than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of −0.041%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hibachi BTC/USDT-P	85,604.4	0.0240	pay 0.0030% / 1h	15m 29s	$701K	$7.9M	30x
Short	01 Exchange BTCUSD	85,536.9	−0.0008	pay 0.0001% / 1h	15m 29s	$364K	$2.3M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

01 Exchange 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 01 ExchangebpOrdersPrice spread, now −0.079%Rate

Funding earned: −$52.08
Price spread: −0.079% → −0.041%: −$3.74
Slippage, 4 orders: −$3.22
Fee Hibachi: 4.5 bp × 2 orders: −$9
Fee 01 Exchange: 3.5 bp × 2 orders: −$7
Net: −$75.04
Costs to cover: 0.192%
Break-even: never at this rate

Slippage from Hibachi: live order book, 4 min ago; 01 Exchange: 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	4.6 bp −$5	4.9 bp −$49	42.8 bp −$4,278	doesn't fit
Sell 01 Exchange live order book, 4 min ago	0.01 bp	4.8 bp −$5	9.2 bp −$92	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
Phoenix BTC	−0.0140%	1h	85,565	−0.046%	$2.1M	$10.4M	40x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	85,540	−0.075%	$8K	$3K	50x	as long as short
KuCoin XBTUSDTM	−0.0044%	8h	85,514.7	−0.105%	$920.0M	$758.1M	125x	as long as short
BloFin BTC-USDT	−0.0026%	8h	85,560.8	−0.051%	$420.0M	$676.4M	150x	as long as short
01 Exchange BTCUSDshort	−0.0008%	1h	85,536.9	−0.079%	$364K	$2.3M	50x
Aster BTCUSDT	−0.0007%	8h	85,513.3	−0.106%	$515.0M	$1.10B	200x	as long as short
Perpl BTC	0.0000%	43m	85,535.7	−0.080%	$503K	$18.7M	6.7x	as long as short
Nado BTC-PERP	+0.0002%	1h	85,531.1	−0.086%	$24.5M	$222.9M	50x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0004% / S −0.0004%	1h	85,537.7	−0.078%	$36.5M	—	200x	as long as short
dYdX BTC-USD	+0.0031%	1h	85,540.1	−0.075%	$16.8M	$21.2M	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	+0.0044%	1h	85,552	−0.061%	$340K	$26.9M	52x	as long as short
SoDEX BTC-USD	+0.0052%	1h	85,512	−0.108%	$59.9M	$336.0M	40x	as long as short
BingX BTC-USDT	+0.0063%	8h	85,512.1	−0.108%	—	$1.55B	—	as long as short
Phemex BTCUSDT	+0.0070%	8h	85,521.5	−0.097%	$148.8M	$496.7M	150x	as long as short
Deribit BTC-PERPETUAL	+0.0075%	1h	85,560	−0.052%	$872.1M	$1.60B	50x	as long as short
Bitget BTCUSDT	+0.0079%	8h	85,520	−0.099%	$2.95B	$5.12B	150x	as long as short
MEXC BTC_USDT	+0.0094%	8h	85,516.7	−0.102%	$5.07B	$5.67B	500x	as long as short
Binance BTCUSDT	+0.0094%	8h	85,517.6	−0.101%	$9.45B	$24.46B	150x	as long as short
Lighter BTC	+0.0096%	1h	85,547	−0.067%	$172.2M	$1.02B	50x	as long as short
Lighter RH BTC	+0.0096%	1h	85,547.3	−0.067%	$23.9M	$148.9M	50x	as long as short
Popdex BTCUSDT	+0.0096%	1h	85,526	−0.092%	$8.4M	$55.1M	100x	as long as short
Aevo BTC-PERP	+0.0096%	1h	85,506.3	−0.115%	$2.9M	$2.8M	20x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	85,509	−0.111%	$230K	$8.4M	50x	as long as short
Paradex BTC-USD-PERP	+0.0100%	8h	85,580.6	−0.028%	$5.7M	$9.4M	50x	as long as short
Hyperliquid BTC	+0.0100%	1h	85,599	−0.006%	$3.79B	$5.02B	40x	as long as short
Pacifica BTC	+0.0100%	1h	85,562.5	−0.049%	$40.4M	$591.8M	50x	as long as short
Bybit BTCUSDT	+0.0100%	8h	85,503.8	−0.118%	$5.18B	$9.87B	150x	as long as short
OKX BTC-USDT-SWAP	+0.0100%	8h	85,513.9	−0.106%	$2.59B	$12.13B	100x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	85,506	−0.115%	$3.8M	$17.7M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	85,525.7	−0.092%	$4.7M	$99.4M	40x	as long as short
Gate BTC_USDT	+0.0100%	8h	85,522	−0.096%	$5.54B	$10.84B	200x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	85,509.2	−0.111%	$36.1M	$178.8M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	85,488.9	−0.135%	$154.5M	$565.3M	—	as long as short
edgeX BTCUSDC	+0.0100%	4h	85,546.8	−0.067%	$279.5M	$931.6M	100x	as long as short
GRVT BTC_USDT_Perp	+0.0100%	8h	85,570.8	−0.039%	$215.0M	$168.8M	50x	as long as short
ApeX Omni BTCUSDT	+0.0100%	1h	85,566.9	−0.044%	$139.9M	$316.2M	100x	as long as short
StandX BTC-USD	+0.0100%	1h	85,560.5	−0.051%	$30.2M	$206.8M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	85,583.3	−0.025%	—	$11.0M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	85,522	−0.096%	$11.1M	$14.3M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	85,519.2	−0.099%	$203K	$3.3M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	85,500.8	−0.121%	$2.5M	$8.8M	100x	as long as short
Bluefin BTC-PERP	+0.0100%	1h	85,562.4	−0.049%	$207K	$737K	40x	as long as short
Derive BTC-PERP	+0.0100%	1h	85,499.7	−0.122%	$30.0M	$50.1M	15x	as long as short
SunX BTC-USDT	+0.0100%	8h	85,508	−0.113%	$2.9M	$6.1M	100x	as long as short
HTX BTC-USDT	+0.0100%	8h	85,509.7	−0.111%	$2.26B	$950.1M	200x	as long as short
Bulk BTC-USD	+0.0100%	1h	85,447	−0.184%	$679.5M	$701.9M	40x	as long as short
Reya BTCRUSDPERP	+0.0103%	1h	85,511.4	−0.109%	$6.6M	$147.2M	40x	as long as short
Extended BTC-USD	+0.0104%	1h	85,500.1	−0.122%	$45.7M	$235.0M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0048%	1h	85,547.7	−0.066%	—	$106.4M	500x	as long as short
Coinbase International BTC-PERP-INTX	+0.0104%	1h	85,556.3	−0.056%	$117.2M	$5.26B	50x	as long as short
Kraken Futures PF_XBTUSD	+0.0135%	1h	85,532.2	−0.084%	$187.8M	$957.2M	100x	as long as short
RISEx BTC/USDC	+0.0174%	1h	85,563.5	−0.048%	$8.6M	$42.9M	25x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0176% / S −0.0151%	1h	85,533.5	−0.083%	$13.0M	—	200x	as long as short
Kalshi KXBTCPERP	+0.0179%	8h	85,554	−0.059%	$11.4M	$753.7M	6.4x	as long as short
Hibachi BTC/USDT-Plong	+0.0240%	1h	85,604.4	long leg	$701K	$7.9M	30x
Aftermath Perps BTCUSD	+0.0254%	1h	85,572.6	−0.037%	$78K	$222K	20x	as long as short