Funding you earn now, next payment 03:48 UTC−0.0087%/8h= −9.5% APRpaid last 24h +0.073%
Price spread now: Hibachi against Perpl+0.032%7-day average +0.023% · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 7 days+0.015%+$1 on $10k
+Price spread, last 7 days−0.096%−$10 · spread now +0.032%, 7d avg +0.023%
=Together, before fees−0.081%+ Points / potential airdropPerpl: Active · Hibachi: Active · farm board−$8 on $10k · with fees, hour by hour
The price spread sits at its 7-day average of +0.023%, so right now this pair is about funding alone: −$3 a day on $10k at the current rate.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Perpl BTC | 85,635.4 | 0.0335 | pay 0.0030% / 43m | 41m 50s | $499K | $18.8M | 6.7x |
| Short | Hibachi BTC/USDT-P | 85,663.2 | 0.0248 | get 0.0031% / 1h | 44m 50s | $696K | $7.9M | 30x |
Perpl BTC
Hibachi BTC/USDT-PFunding history
latest
Range statsloading…
Price spread between the two exchanges
Hibachi against Perpl. 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
- −$18.25
- Price spread: +0.032% → +0.023%
- $0.9
- Slippage, 4 orders
- no order book: not counted
- Fee Perpl: 6.9 bp × 2 orders
- −$13.8
- Fee Hibachi: 4.5 bp × 2 orders
- −$9
- Net
- −$40.15
- Costs to cover
- 0.228%
- Break-even
- never at this rate
Slippage unknown: Perpl: no order-book sample; Hibachi: live order book, 4 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 Perpl no order-book sample | — | — | — | — | — |
| Sell Hibachi live order book, 4 min ago | 0.80 bp | 5.3 bp −$5 | 5.3 bp −$53 | 45.2 bp −$4,516 | doesn't fit |
Perpl: 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 | 85,589 | −0.054% | $2.1M | $10.4M | 40x | as long as short |
| Hotstuff BTC-PERP | −0.0080% | 1h | 85,649 | +0.016% | $8K | $3K | 50x | as long as short |
| KuCoin XBTUSDTM | −0.0039% | 8h | 85,587.1 | −0.056% | $916.9M | $756.6M | 125x | as long as short |
| BloFin BTC-USDT | −0.0020% | 8h | 85,627 | −0.010% | $418.4M | $675.8M | 150x | as long as short |
| 01 Exchange BTCUSD | −0.0016% | 1h | 85,604.3 | −0.036% | $366K | $2.3M | 50x | as long as short |
| Nado BTC-PERP | −0.0002% | 1h | 85,602.3 | −0.039% | $24.8M | $222.5M | 50x | as long as short |
| dYdX BTC-USD | 0.0000% | 1h | 85,631.4 | −0.005% | $16.8M | $21.2M | 50x | as long as short |
| gTrade (Gains Network) BTC/USD | L +0.0004% / S −0.0004% | 1h | 85,620.7 | −0.017% | $36.6M | — | 200x | as long as short |
| Aster BTCUSDT | +0.0010% | 8h | 85,586.9 | −0.057% | $515.4M | $1.10B | 200x | as long as short |
| Deribit BTC-PERPETUAL | +0.0021% | 1h | 85,651.1 | +0.018% | $884.2M | $1.59B | 50x | as long as short |
Phoenix BTC
Hotstuff BTC-PERP
KuCoin XBTUSDTM
BloFin BTC-USDT
01 Exchange BTCUSD
Nado BTC-PERP
dYdX BTC-USD
gTrade (Gains Network) BTC/USD
Aster BTCUSDT
Deribit BTC-PERPETUALShow all 56 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Injective BTC/USDC PERP | +0.0044% | 1h | 85,690 | +0.064% | $340K | $26.9M | 52x | as long as short |
| BingX BTC-USDT | +0.0065% | 8h | 85,589.9 | −0.053% | — | $1.54B | — | as long as short |
| Phemex BTCUSDT | +0.0068% | 8h | 85,605.4 | −0.035% | $148.6M | $491.4M | 150x | as long as short |
| SoDEX BTC-USD | +0.0080% | 1h | 85,614 | −0.025% | $60.0M | $336.1M | 40x | as long as short |
| Bitget BTCUSDT | +0.0081% | 8h | 85,582.8 | −0.061% | $2.95B | $5.11B | 150x | as long as short |
| Reya BTCRUSDPERP | +0.0093% | 1h | 85,587.8 | −0.056% | $6.6M | $147.0M | 40x | as long as short |
| Lighter BTC | +0.0096% | 1h | 85,614.2 | −0.025% | $172.1M | $1.01B | 50x | as long as short |
| Lighter RH BTC | +0.0096% | 1h | 85,625.1 | −0.012% | $23.9M | $148.0M | 50x | as long as short |
| Popdex BTCUSDT | +0.0096% | 1h | 85,590 | −0.053% | $8.7M | $54.6M | 100x | as long as short |
| Aevo BTC-PERP | +0.0096% | 1h | 85,616.4 | −0.022% | $2.5M | $1.7M | 20x | as long as short |
| Katana Perps BTC-USD | +0.0100% | 8h | 85,578 | −0.067% | $202K | $8.2M | 50x | as long as short |
| Paradex BTC-USD-PERP | +0.0100% | 8h | 85,666 | +0.036% | $5.7M | $9.4M | 50x | as long as short |
| Hyperliquid BTC | +0.0100% | 1h | 85,677 | +0.049% | $3.79B | $5.02B | 40x | as long as short |
| Pacifica BTC | +0.0100% | 1h | 85,635.7 | 0.000% | $40.6M | $584.8M | 50x | as long as short |
| Binance BTCUSDT | +0.0100% | 8h | 85,588.3 | −0.055% | $9.42B | $24.31B | 150x | as long as short |
| Bybit BTCUSDT | +0.0100% | 8h | 85,583.8 | −0.060% | $5.19B | $9.84B | 150x | as long as short |
| OKX BTC-USDT-SWAP | +0.0100% | 8h | 85,591.5 | −0.051% | $2.59B | $12.15B | 100x | as long as short |
| Ondo Perps BTC-USD.P | +0.0100% | 1h | 85,594 | −0.048% | $3.8M | $17.8M | 25x | as long as short |
| Arcus BTC-USD | +0.0100% | 1h | 85,584.4 | −0.060% | $4.4M | $98.5M | 40x | as long as short |
| Gate BTC_USDT | +0.0100% | 8h | 85,596 | −0.046% | $5.54B | $10.77B | 200x | as long as short |
| MEXC BTC_USDT | +0.0100% | 8h | 85,586.1 | −0.058% | $5.07B | $5.64B | 500x | as long as short |
| Backpack BTC_USDC_PERP | +0.0100% | 1h | 85,593.3 | −0.049% | $36.0M | $177.6M | 75x | as long as short |
| Variational Omni BTC | +0.0100% | 8h | 85,612.6 | −0.027% | $153.5M | $564.7M | — | as long as short |
| edgeX BTCUSDC | +0.0100% | 4h | 85,612.9 | −0.026% | $279.7M | $927.1M | 100x | as long as short |
| GRVT BTC_USDT_Perp | +0.0100% | 8h | 85,585.1 | −0.059% | $215.0M | $169.0M | 50x | as long as short |
| ApeX Omni BTCUSDT | +0.0100% | 1h | 85,627.8 | −0.009% | $140.0M | $315.9M | 100x | as long as short |
| StandX BTC-USD | +0.0100% | 1h | 85,627.5 | −0.009% | $30.3M | $207.9M | 40x | as long as short |
| Vest BTC-PERP | +0.0100% | 1h | 85,664.7 | +0.034% | — | $11.8M | 50x | as long as short |
| Polymarket Perps BTC-USD | +0.0100% | 1h | 85,593 | −0.050% | $11.1M | $14.3M | 50x | as long as short |
| Bullet BTC-USD | +0.0100% | 1h | 85,590 | −0.053% | $197K | $3.3M | 20x | as long as short |
| Orderly PERP_BTC_USDC | +0.0100% | 8h | 85,617.3 | −0.021% | $2.4M | $8.7M | 100x | as long as short |
| Bluefin BTC-PERP | +0.0100% | 1h | 85,663.2 | +0.032% | $207K | $739K | 40x | as long as short |
| Derive BTC-PERP | +0.0100% | 1h | 85,611.9 | −0.027% | $30.0M | $50.1M | 15x | as long as short |
| SunX BTC-USDT | +0.0100% | 8h | 85,586.5 | −0.057% | $2.9M | $6.1M | 100x | as long as short |
| HTX BTC-USDT | +0.0100% | 8h | 85,593.7 | −0.049% | $2.27B | $946.5M | 200x | as long as short |
| Bulk BTC-USD | +0.0100% | 1h | 85,665.1 | +0.035% | $677.0M | $718.2M | 40x | as long as short |
| Extended BTC-USD | +0.0104% | 1h | 85,569.4 | −0.077% | $44.8M | $231.4M | 50x | as long as short |
| Jupiter Perps WBTC-PERP | L +0.0104% / S +0.0048% | 1h | 85,646.1 | +0.013% | — | $107.6M | 500x | as long as short |
| Coinbase International BTC-PERP-INTX | +0.0104% | 1h | 85,640 | +0.005% | $117.2M | $5.22B | 50x | as long as short |
| Kraken Futures PF_XBTUSD | +0.0135% | 1h | 85,632.7 | −0.003% | $188.0M | $955.6M | 100x | as long as short |
| RISEx BTC/USDC | +0.0174% | 1h | 85,629.4 | −0.007% | $8.7M | $42.9M | 25x | as long as short |
| GMX BTC/USD [WBTC.b-USDC] | L +0.0201% / S −0.0177% | 1h | 85,609.9 | −0.030% | $13.1M | — | 200x | as long as short |
| Kalshi KXBTCPERP | +0.0222% | 8h | 85,654 | +0.022% | $12.0M | $756.3M | 6.4x | as long as short |
| Aftermath Perps BTCUSD | +0.0233% | 1h | 85,668 | +0.038% | $78K | $220K | 20x | as long as short |
| Hibachi BTC/USDT-Pshort | +0.0248% | 1h | 85,663.2 | +0.032% | $696K | $7.9M | 30x | |
| Perpl BTClong | +0.0335% | 43m | 85,635.4 | long leg | $499K | $18.8M | 6.7x |
Injective BTC/USDC PERP
BingX BTC-USDT
Phemex BTCUSDT
SoDEX BTC-USD
Bitget BTCUSDT
Reya BTCRUSDPERP
Lighter BTC
Lighter RH BTC
Popdex BTCUSDT
Aevo BTC-PERP
Katana Perps BTC-USD
Paradex BTC-USD-PERP
Hyperliquid BTC
Pacifica BTC
Binance BTCUSDT
Bybit BTCUSDT
OKX BTC-USDT-SWAP
Ondo Perps BTC-USD.P
Arcus BTC-USD
Gate BTC_USDT
MEXC 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
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