Funding you earn now, next payment 05:00 UTC+0.0140%/8h= +15.3% APRnext payment +$0.18 per $10,000 · paid last 24h +0.031%
Price spread now: Hibachi against Ondo Perps+0.066%7-day average +0.029% · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 7 days+0.288%+$29 on $10k
+Price spread, last 7 days+0.160%+$16 · spread now +0.066%, 7d avg +0.029%
=Together, before fees+0.448%+ Points / potential airdropOndo Perps: Active · Hibachi: Active · farm board+$45 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$4 a day on $10k at the current rate, and Hibachi is 0.037% dearer against Ondo Perps than usual: you sell high and buy low: +$4 more if the spread goes back to its 7-day average of +0.029%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Ondo Perps BTC-USD.P | 85,548 | 0.0100 | pay 0.0013% / 1h | 16m 33s | $3.8M | $17.8M | 25x |
| Short | Hibachi BTC/USDT-P | 85,604.4 | 0.0240 | get 0.0030% / 1h | 16m 33s | $701K | $7.9M | 30x |
Ondo Perps BTC-USD.P
Hibachi BTC/USDT-PFunding history
latest
Range statsloading…
Price spread between the two exchanges
Hibachi against Ondo Perps. 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
- $29.4
- Price spread: +0.066% → +0.029%
- $3.66
- Slippage, 4 orders
- no order book: not counted
- Fee Ondo Perps: 2.5 bp × 2 orders
- −$5
- Fee Hibachi: 4.5 bp × 2 orders
- −$9
- Net
- $19.06
- Costs to cover
- 0.140%
- Break-even
- 2.5 days
Slippage unknown: Ondo Perps: no order-book sample; Hibachi: live order book, 3 min ago. 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 Ondo Perps no order-book sample | — | — | — | — | — |
| Sell Hibachi live order book, 3 min ago | 0.01 bp | 5.4 bp −$5 | 6.0 bp −$60 | 72.0 bp −$7,205 | doesn't fit |
Ondo 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 | |
|---|---|---|---|---|---|---|---|---|
| Phoenix BTC | −0.0140% | 1h | 85,565 | +0.020% | $2.1M | $10.4M | 40x | as long as short |
| Hotstuff BTC-PERP | −0.0080% | 1h | 85,583 | +0.041% | $8K | $3K | 50x | as long as short |
| KuCoin XBTUSDTM | −0.0044% | 8h | 85,515.8 | −0.038% | $920.1M | $758.1M | 125x | as long as short |
| BloFin BTC-USDT | −0.0026% | 8h | 85,560.8 | +0.015% | $420.0M | $676.4M | 150x | as long as short |
| 01 Exchange BTCUSD | −0.0008% | 1h | 85,536.9 | −0.013% | $364K | $2.3M | 50x | as long as short |
| Aster BTCUSDT | −0.0006% | 8h | 85,518.8 | −0.034% | $515.0M | $1.10B | 200x | as long as short |
| Perpl BTC | 0.0000% | 43m | 85,566.2 | +0.021% | $504K | $18.7M | 6.7x | as long as short |
| Nado BTC-PERP | +0.0002% | 1h | 85,521 | −0.032% | $24.5M | $222.9M | 50x | as long as short |
| gTrade (Gains Network) BTC/USD | L +0.0004% / S −0.0004% | 1h | 85,580.1 | +0.038% | $36.6M | — | 200x | as long as short |
| dYdX BTC-USD | +0.0032% | 1h | 85,584.5 | +0.043% | $16.8M | $21.2M | 50x | as long as short |
Phoenix BTC
Hotstuff BTC-PERP
KuCoin XBTUSDTM
BloFin BTC-USDT
01 Exchange BTCUSD
Aster BTCUSDT
Perpl BTC
Nado BTC-PERP
gTrade (Gains Network) BTC/USD
dYdX BTC-USDShow 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 | +0.005% | $340K | $26.9M | 52x | as long as short |
| SoDEX BTC-USD | +0.0055% | 1h | 85,566 | +0.021% | $60.0M | $336.0M | 40x | as long as short |
| BingX BTC-USDC | +0.0064% | 8h | 85,509.3 | −0.045% | — | $17.2M | — | as long as short |
| Phemex BTCUSDT | +0.0067% | 8h | 85,571.4 | +0.027% | $149.0M | $496.6M | 150x | as long as short |
| Bitget BTCUSDT | +0.0079% | 8h | 85,521 | −0.032% | $2.95B | $5.12B | 150x | as long as short |
| Deribit BTC-PERPETUAL | +0.0083% | 1h | 85,614.1 | +0.077% | $872.0M | $1.60B | 50x | as long as short |
| MEXC BTC_USDT | +0.0094% | 8h | 85,524.8 | −0.027% | $5.07B | $5.67B | 500x | as long as short |
| Binance BTCUSDT | +0.0094% | 8h | 85,516.7 | −0.037% | $9.45B | $24.45B | 150x | as long as short |
| Lighter BTC | +0.0096% | 1h | 85,538.1 | −0.012% | $172.2M | $1.02B | 50x | as long as short |
| Lighter RH BTC | +0.0096% | 1h | 85,539.6 | −0.010% | $23.9M | $148.9M | 50x | as long as short |
| Popdex BTCUSDT | +0.0096% | 1h | 85,515 | −0.039% | $8.4M | $55.1M | 100x | as long as short |
| Aevo BTC-PERP | +0.0096% | 1h | 85,554.5 | +0.008% | $2.8M | $2.7M | 20x | as long as short |
| Katana Perps BTC-USD | +0.0100% | 8h | 85,506 | −0.049% | $230K | $8.4M | 50x | as long as short |
| Paradex BTC-USD-PERP | +0.0100% | 8h | 85,583.1 | +0.041% | $5.7M | $9.4M | 50x | as long as short |
| Hyperliquid BTC | +0.0100% | 1h | 85,611 | +0.074% | $3.79B | $5.02B | 40x | as long as short |
| Pacifica BTC | +0.0100% | 1h | 85,563.5 | +0.018% | $40.4M | $591.8M | 50x | as long as short |
| Bybit BTCUSDT | +0.0100% | 8h | 85,514.4 | −0.039% | $5.18B | $9.87B | 150x | as long as short |
| OKX BTC-USDT-SWAP | +0.0100% | 8h | 85,520.6 | −0.032% | $2.59B | $12.13B | 100x | as long as short |
| Ondo Perps BTC-USD.Plong | +0.0100% | 1h | 85,548 | long leg | $3.8M | $17.8M | 25x | |
| Arcus BTC-USD | +0.0100% | 1h | 85,527.6 | −0.024% | $4.7M | $99.4M | 40x | as long as short |
| Gate BTC_USDT | +0.0100% | 8h | 85,531.8 | −0.019% | $5.54B | $10.84B | 200x | as long as short |
| Backpack BTC_USDC_PERP | +0.0100% | 1h | 85,530 | −0.021% | $36.1M | $178.8M | 75x | as long as short |
| Variational Omni BTC | +0.0100% | 8h | 85,535 | −0.015% | $154.3M | $565.4M | — | as long as short |
| edgeX BTCUSDC | +0.0100% | 4h | 85,494.4 | −0.063% | $279.2M | $930.5M | 100x | as long as short |
| GRVT BTC_USDT_Perp | +0.0100% | 8h | 85,547.9 | 0.000% | $215.0M | $168.8M | 50x | as long as short |
| ApeX Omni BTCUSDT | +0.0100% | 1h | 85,536.9 | −0.013% | $139.8M | $316.1M | 100x | as long as short |
| StandX BTC-USD | +0.0100% | 1h | 85,565.5 | +0.020% | $30.2M | $206.8M | 40x | as long as short |
| Vest BTC-PERP | +0.0100% | 1h | 85,588.8 | +0.048% | — | $11.0M | 50x | as long as short |
| Polymarket Perps BTC-USD | +0.0100% | 1h | 85,518 | −0.035% | $11.1M | $14.3M | 50x | as long as short |
| Bullet BTC-USD | +0.0100% | 1h | 85,565 | +0.020% | $202K | $3.3M | 20x | as long as short |
| Orderly PERP_BTC_USDC | +0.0100% | 8h | 85,562.8 | +0.017% | $2.5M | $8.8M | 100x | as long as short |
| Bluefin BTC-PERP | +0.0100% | 1h | 85,615.5 | +0.079% | $207K | $737K | 40x | as long as short |
| Derive BTC-PERP | +0.0100% | 1h | 85,553.6 | +0.007% | $30.0M | $50.1M | 15x | as long as short |
| SunX BTC-USDT | +0.0100% | 8h | 85,541.9 | −0.007% | $2.9M | $6.1M | 100x | as long as short |
| HTX BTC-USDT | +0.0100% | 8h | 85,553 | +0.006% | $2.27B | $949.9M | 200x | as long as short |
| Bulk BTC-USD | +0.0100% | 1h | 85,447 | −0.118% | $679.5M | $701.9M | 40x | as long as short |
| Reya BTCRUSDPERP | +0.0103% | 1h | 85,509.8 | −0.045% | $6.6M | $147.1M | 40x | as long as short |
| Extended BTC-USD | +0.0104% | 1h | 85,497 | −0.060% | $45.7M | $235.0M | 50x | as long as short |
| Jupiter Perps WBTC-PERP | L +0.0104% / S +0.0048% | 1h | 85,584.7 | +0.043% | — | $106.4M | 500x | as long as short |
| Coinbase International BTC-PERP-INTX | +0.0104% | 1h | 85,613 | +0.076% | $117.2M | $5.26B | 50x | as long as short |
| Kraken Futures PF_XBTUSD | +0.0135% | 1h | 85,590.4 | +0.050% | $188.0M | $957.1M | 100x | as long as short |
| RISEx BTC/USDC | +0.0174% | 1h | 85,555.1 | +0.008% | $8.6M | $42.9M | 25x | as long as short |
| GMX BTC/USD [WBTC.b-USDC] | L +0.0176% / S −0.0151% | 1h | 85,577.9 | +0.035% | $13.0M | — | 200x | as long as short |
| Kalshi KXBTCPERP | +0.0176% | 8h | 85,604 | +0.065% | $11.5M | $753.8M | 6.4x | as long as short |
| Hibachi BTC/USDT-Pshort | +0.0240% | 1h | 85,604.4 | +0.066% | $701K | $7.9M | 30x | |
| Aftermath Perps BTCUSD | +0.0249% | 1h | 85,543.5 | −0.005% | $78K | $222K | 20x | as long as short |
Injective BTC/USDC PERP
SoDEX BTC-USD
BingX BTC-USDC
Phemex BTCUSDT
Bitget BTCUSDT
Deribit BTC-PERPETUAL
MEXC BTC_USDT
Binance BTCUSDT
Lighter BTC
Lighter RH BTC
Popdex BTCUSDT
Aevo BTC-PERP
Katana Perps BTC-USD
Paradex BTC-USD-PERP
Hyperliquid BTC
Pacifica BTC
Bybit BTCUSDT
OKX BTC-USDT-SWAP
Arcus 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
Bulk BTC-USD
Reya BTCRUSDPERP
Extended BTC-USD
Jupiter Perps WBTC-PERP
Coinbase International BTC-PERP-INTX
Kraken Futures PF_XBTUSD
RISEx BTC/USDC
GMX BTC/USD [WBTC.b-USDC]
Kalshi KXBTCPERP
Aftermath Perps BTCUSD