Funding you earn now, next payment 08:00 UTC+0.0036%/8h= +3.9% APRnext payment +$0.04 per $10,000 · paid last 24h −0.044%
Price spread now: Bullet against Hibachi−0.058%7-day average −0.018% · 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−$27as in the Price arb table
costs, in and out, $10k−$230.228% of the position
Funding, last 4 days (all we have)−0.009%−$1 on $10k
+Price spread, last 7 days+0.031%+$3 · spread now −0.058%, 7d avg −0.018%
=Together, before fees+0.023%+ Points / potential airdropHibachi: Active · farm board+$2 on $10k · with fees, hour by hour
Funding pays, the price is against you. Bullet is 0.040% cheaper against Hibachi than usual: you would sell low and buy high (spread −0.058% now, against its 7-day average of −0.018%). If the spread goes back, that is −$4 on $10k: about 3.7 days of funding at the current rate (+$1 a day).
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Hibachi ETH/USDT-P | 2,725.5 | 0.0064 | pay 0.0008% / 1h | 11m 52s | $242K | $1.4M | 20x |
| Short | Bullet ETH-USD | 2,723.9 | 0.0100 | get 0.0013% / 1h | 11m 52s | $193K | $1.7M | 20x |
Hibachi ETH/USDT-P
Bullet ETH-USDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Bullet against Hibachi. 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
- $7.56
- Price spread: −0.058% → −0.018%
- −$4.01
- Slippage, 4 orders
- −$5.84
- Fee Hibachi: 4.5 bp × 2 orders
- −$9
- Fee Bullet: 4 bp × 2 orders
- −$8
- Net
- −$19.29
- Costs to cover
- 0.228%
- Break-even
- 24.9 days
Slippage from Hibachi: live order book, 2 min ago; Bullet: 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 | 0.02 bp | 4.7 bp −$5 | 8.3 bp −$83 | doesn't fit | doesn't fit |
| Sell Bullet live order book, 2 min ago | 0.18 bp | 5.9 bp −$6 | 10.1 bp −$101 | doesn't fit | doesn't fit |
ETH 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 | |
|---|---|---|---|---|---|---|---|---|
| Perpl ETH | −0.0447% | 43m | 2,724.6 | −0.031% | $274K | $5.7M | 8.3x | as long as short |
| BloFin ETH-USDT | −0.0183% | 8h | 2,725 | −0.017% | $280.8M | $177.5M | 150x | as long as short |
| Hotstuff ETH-PERP | −0.0080% | 1h | 2,724.1 | −0.051% | $5K | $1K | 50x | as long as short |
| Phoenix ETH | −0.0015% | 1h | 2,725.4 | −0.003% | $808K | $3.0M | 25x | as long as short |
| GMX ETH/USD [ETH-USDC] | L −0.0010% / S +0.0043% | 1h | 2,724 | −0.056% | $11.9M | — | 200x | as long as short |
| dYdX ETH-USD | 0.0000% | 1h | 2,724.9 | −0.021% | $10.5M | $41.8M | 50x | as long as short |
| Kalshi KXETHPERP | 0.0000% | 8h | 2,724.2 | −0.047% | $6.7M | $675.9M | 4.9x | as long as short |
| Deribit ETH-PERPETUAL | 0.0000% | 1h | 2,724 | −0.055% | $263.6M | $214.1M | 50x | as long as short |
| gTrade (Gains Network) ETH/USD | L +0.0007% / S −0.0006% | 1h | 2,724 | −0.054% | $32.9M | — | 200x | as long as short |
| BingX ETH-USDT | +0.0016% | 8h | 2,722.8 | −0.098% | — | $1.08B | — | as long as short |
Perpl ETH
BloFin ETH-USDT
Hotstuff ETH-PERP
Phoenix ETH
GMX ETH/USD [ETH-USDC]
dYdX ETH-USD
Kalshi KXETHPERP
Deribit ETH-PERPETUAL
gTrade (Gains Network) ETH/USD
BingX ETH-USDTShow all 55 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Bybit ETHUSDT | +0.0021% | 8h | 2,722.9 | −0.096% | $2.31B | $4.33B | 150x | as long as short |
| 01 Exchange ETHUSD | +0.0032% | 1h | 2,724.4 | −0.040% | $190K | $883K | 50x | as long as short |
| HTX ETH-USDT | +0.0034% | 8h | 2,723.4 | −0.077% | $1.05B | $1.22B | 200x | as long as short |
| Injective ETH/USDC PERP | +0.0050% | 1h | 2,729.4 | +0.144% | $117K | $22.0M | 52x | as long as short |
| Kraken Futures PF_ETHUSD | +0.0060% | 1h | 2,723.7 | −0.064% | $81.8M | $310.2M | 100x | as long as short |
| Hibachi ETH/USDT-Plong | +0.0064% | 1h | 2,725.5 | long leg | $242K | $1.4M | 20x | |
| OKX ETH-USDT-SWAP | +0.0073% | 8h | 2,723.2 | −0.084% | $1.65B | $10.76B | 100x | as long as short |
| ApeX Omni ETHUSDT | +0.0074% | 1h | 2,724.1 | −0.052% | $8.5M | $31.4M | 100x | as long as short |
| KuCoin ETHUSDTM | +0.0077% | 8h | 2,723 | −0.091% | $382.4M | $576.8M | 100x | as long as short |
| Aster ETHUSDT | +0.0081% | 8h | 2,723.2 | −0.084% | $252.3M | $850.9M | 200x | as long as short |
| Aevo ETH-PERP | +0.0088% | 1h | 2,721 | −0.164% | $4.9M | $175K | 20x | as long as short |
| MEXC ETH_USDT | +0.0091% | 8h | 2,723 | −0.093% | $1.58B | $2.59B | 500x | as long as short |
| Binance ETHUSDT | +0.0092% | 8h | 2,722.9 | −0.093% | $6.30B | $16.09B | 150x | as long as short |
| Lighter ETH | +0.0096% | 1h | 2,723.7 | −0.066% | $112.2M | $433.3M | 50x | as long as short |
| Lighter RH ETH | +0.0096% | 1h | 2,724.7 | −0.029% | $23.4M | $102.5M | 50x | as long as short |
| Katana Perps ETH-USD | +0.0100% | 8h | 2,724.1 | −0.051% | $499K | $3.6M | 50x | as long as short |
| Paradex ETH-USD-PERP | +0.0100% | 8h | 2,728.7 | +0.119% | $15.4M | $7.5M | 50x | as long as short |
| Nado ETH-PERP | +0.0100% | 1h | 2,723.6 | −0.068% | $14.1M | $104.5M | 50x | as long as short |
| Hyperliquid ETH | +0.0100% | 1h | 2,725.1 | −0.014% | $3.10B | $2.05B | 25x | as long as short |
| Pacifica ETH | +0.0100% | 1h | 2,724.9 | −0.020% | $32.0M | $333.3M | 50x | as long as short |
| Ondo Perps ETH-USD.P | +0.0100% | 1h | 2,723.8 | −0.062% | $2.7M | $16.8M | 25x | as long as short |
| Arcus ETH-USD | +0.0100% | 1h | 2,724.4 | −0.041% | $1.6M | $16.0M | 25x | as long as short |
| Gate ETH_USDT | +0.0100% | 8h | 2,723 | −0.093% | $3.30B | $8.94B | 200x | as long as short |
| Bitget ETHUSDT | +0.0100% | 8h | 2,723.1 | −0.089% | $2.10B | $2.76B | 150x | as long as short |
| Backpack ETH_USDC_PERP | +0.0100% | 1h | 2,722.8 | −0.099% | $15.0M | $40.5M | 50x | as long as short |
| Variational Omni ETH | +0.0100% | 8h | 2,724.1 | −0.049% | $133.8M | $316.4M | — | as long as short |
| edgeX ETHUSDC | +0.0100% | 4h | 2,724.2 | −0.047% | $185.4M | $683.5M | 100x | as long as short |
| GRVT ETH_USDT_Perp | +0.0100% | 8h | 2,724.8 | −0.027% | $158.3M | $82.0M | 50x | as long as short |
| StandX ETH-USD | +0.0100% | 1h | 2,726 | +0.019% | $20.9M | $69.7M | 40x | as long as short |
| Vest ETH-PERP | +0.0100% | 1h | 2,725.8 | +0.011% | — | $445K | 50x | as long as short |
| Polymarket Perps ETH-USD | +0.0100% | 1h | 2,725.2 | −0.010% | $11.2M | $9.4M | 50x | as long as short |
| Bullet ETH-USDshort | +0.0100% | 1h | 2,723.9 | −0.058% | $193K | $1.7M | 20x | |
| Derive ETH-PERP | +0.0100% | 1h | 2,724.8 | −0.025% | $40.7M | $29.9M | 15x | as long as short |
| SunX ETH-USDT | +0.0100% | 8h | 2,723.5 | −0.074% | $954K | $10.7M | 100x | as long as short |
| SoDEX ETH-USD | +0.0100% | 1h | 2,723.1 | −0.087% | $54.2M | $182.7M | 40x | as long as short |
| Phemex ETHUSDT | +0.0100% | 8h | 2,723.9 | −0.059% | $262.3M | $64.3M | 150x | as long as short |
| Bulk ETH-USD | +0.0100% | 1h | 2,726.7 | +0.046% | $161.2M | $356.8M | 25x | as long as short |
| Aftermath Perps ETHUSD | +0.0100% | 1h | 2,725.2 | −0.009% | $30K | $20K | 20x | as long as short |
| Extended ETH-USD | +0.0104% | 1h | 2,722.3 | −0.115% | $30.4M | $71.4M | 50x | as long as short |
| Jupiter Perps ETH-PERP | L +0.0104% / S +0.0056% | 1h | 2,725.7 | +0.010% | — | $30.2M | 500x | as long as short |
| Coinbase International ETH-PERP-INTX | +0.0112% | 1h | 2,724.7 | −0.029% | $46.5M | $4.26B | 50x | as long as short |
| RISEx ETH/USDC | +0.0114% | 1h | 2,724.6 | −0.032% | $5.6M | $11.6M | 25x | as long as short |
| Reya ETHRUSDPERP | +0.0178% | 1h | 2,723.3 | −0.078% | $7.3M | $972K | 25x | as long as short |
| Orderly PERP_ETH_USDC | +0.0185% | 8h | 2,725.8 | +0.013% | $32.2M | $11.2M | 100x | as long as short |
| Bluefin ETH-PERP | +0.0275% | 1h | 2,724.2 | −0.047% | $20K | $23K | 25x | as long as short |
Bybit ETHUSDT
01 Exchange ETHUSD
HTX ETH-USDT
Injective ETH/USDC PERP
Kraken Futures PF_ETHUSD
OKX ETH-USDT-SWAP
ApeX Omni ETHUSDT
KuCoin ETHUSDTM
Aster ETHUSDT
Aevo ETH-PERP
MEXC ETH_USDT
Binance ETHUSDT
Lighter ETH
Lighter RH ETH
Katana Perps ETH-USD
Paradex ETH-USD-PERP
Nado ETH-PERP
Hyperliquid ETH
Pacifica ETH
Ondo Perps ETH-USD.P
Arcus ETH-USD
Gate ETH_USDT
Bitget ETHUSDT
Backpack ETH_USDC_PERP
Variational Omni ETH
edgeX ETHUSDC
GRVT ETH_USDT_Perp
StandX ETH-USD
Vest ETH-PERP
Polymarket Perps ETH-USD
Derive ETH-PERP
SunX ETH-USDT
SoDEX ETH-USD
Phemex ETHUSDT
Bulk ETH-USD
Aftermath Perps ETHUSD
Extended ETH-USD
Jupiter Perps ETH-PERP
Coinbase International ETH-PERP-INTX
RISEx ETH/USDC
Reya ETHRUSDPERP
Orderly PERP_ETH_USDC
Bluefin ETH-PERP