Funding you earn now, next payment 22:00 UTC−0.0372%/8h= −40.7% APRnext payment −$0.46 per $10,000 · paid last 24h −0.010%
Price spread now: Derive against Hibachi+0.061%7-day average +0.024% · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 7 days+0.390%+$39 on $10k
+Price spread, last 3 days (all we have)−0.083%−$8 · spread now +0.061%, 7d avg +0.024%
=Together, before fees+0.307%+ Points / potential airdropHibachi: Active · farm board+$31 on $10k · with fees, hour by hour
The price spread pays, funding is against you. Derive is 0.037% dearer against Hibachi than usual: you sell high and buy low (spread +0.061% now, against its 7-day average of +0.024%): +$4 on $10k if it goes back. Holding the pair costs −$11 a day in funding at the current rate, which eats that in about 8 hours. Mind the row above: over the last 7 days funding on this pair paid +0.390%, so the current rate has only just turned against you.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Hibachi ETH/USDT-P | 2,771.5 | 0.0472 | pay 0.0059% / 1h | 2m 57s | $285K | $1.5M | 20x |
| Short | Derive ETH-PERP | 2,773.2 | 0.0100 | get 0.0013% / 1h | 2m 57s | $42.7M | $29.4M | 15x |
Hibachi ETH/USDT-P
Derive ETH-PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Derive 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
- −$78.12
- Price spread: +0.061% → +0.024%
- $3.7
- Slippage, 4 orders
- no order book: not counted
- Fee Hibachi: 4.5 bp × 2 orders
- −$9
- Fee Derive: 3 bp × 2 orders
- −$6
- Net
- −$89.42
- Costs to cover
- 0.150%
- Break-even
- never at this rate
Slippage unknown: Hibachi: live order book, 1 min ago; Derive: no order-book sample. 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 Hibachi live order book, 1 min ago | 0.02 bp | 5.4 bp −$5 | 7.6 bp −$76 | doesn't fit | doesn't fit |
| Sell Derive no order-book sample | — | — | — | — | — |
Derive: 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.
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 | −0.0112% | 43m | 2,771.1 | −0.017% | $289K | $6.9M | 8.3x | as long as short |
| Injective ETH/USDC PERP | −0.0107% | 1h | 2,776.2 | +0.168% | $119K | $22.5M | 52x | as long as short |
| Hotstuff ETH-PERP | −0.0080% | 1h | 2,771.3 | −0.009% | $5K | $2K | 50x | as long as short |
| 01 Exchange ETHUSD | −0.0048% | 1h | 2,770.2 | −0.048% | $171K | $1.2M | 50x | as long as short |
| Phoenix ETH | −0.0023% | 1h | 2,770.9 | −0.023% | $884K | $3.7M | 25x | as long as short |
| RISEx ETH/USDC | −0.0011% | 1h | 2,771.1 | −0.015% | $5.7M | $12.1M | 25x | as long as short |
| dYdX ETH-USD | 0.0000% | 1h | 2,771.8 | +0.008% | $12.7M | $45.5M | 50x | as long as short |
| Aftermath Perps ETHUSD | +0.0004% | 1h | 2,771.9 | +0.013% | $29K | $22K | 20x | as long as short |
| gTrade (Gains Network) ETH/USD | L +0.0006% / S −0.0006% | 1h | 2,771.7 | +0.005% | $22.4M | — | 200x | as long as short |
| BingX ETH-USDC | +0.0018% | 8h | 2,770.9 | −0.024% | — | $17.3M | — | as long as short |
Perpl ETH
Injective ETH/USDC PERP
Hotstuff ETH-PERP
01 Exchange ETHUSD
Phoenix ETH
RISEx ETH/USDC
dYdX ETH-USD
Aftermath Perps ETHUSD
gTrade (Gains Network) ETH/USD
BingX ETH-USDCShow all 55 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| OKX ETH-USDT-SWAP | +0.0022% | 8h | 2,771.2 | −0.012% | $1.71B | $11.89B | 100x | as long as short |
| GMX ETH/USD [ETH-USDC] | L +0.0028% / S +0.0009% | 1h | 2,771.6 | +0.001% | $13.2M | — | 200x | as long as short |
| Phemex ETHUSDT | +0.0030% | 8h | 2,771.1 | −0.015% | $266.9M | $66.0M | 150x | as long as short |
| Aster ETHUSDT | +0.0032% | 8h | 2,771.3 | −0.010% | $256.3M | $995.5M | 200x | as long as short |
| ApeX Omni ETHUSDT | +0.0032% | 1h | 2,769.3 | −0.083% | $8.7M | $32.6M | 100x | as long as short |
| Aevo ETH-PERP | +0.0048% | 1h | 2,768.8 | −0.100% | $5.0M | $636K | 20x | as long as short |
| MEXC ETH_USDT | +0.0051% | 8h | 2,771 | −0.019% | $1.59B | $2.69B | 500x | as long as short |
| Binance ETHUSDT | +0.0052% | 8h | 2,771.7 | +0.007% | $6.44B | $17.23B | 150x | as long as short |
| Bullet ETH-USD | +0.0073% | 1h | 2,770.8 | −0.027% | $182K | $1.8M | 20x | as long as short |
| Bitget ETHUSDT | +0.0074% | 8h | 2,771.5 | −0.001% | $2.10B | $3.13B | 150x | as long as short |
| Gate ETH_USDT | +0.0077% | 8h | 2,770.9 | −0.023% | $3.28B | $9.70B | 200x | as long as short |
| Lighter ETH | +0.0096% | 1h | 2,771.5 | 0.000% | $114.7M | $515.8M | 50x | as long as short |
| Lighter RH ETH | +0.0096% | 1h | 2,772.9 | +0.048% | $25.4M | $123.4M | 50x | as long as short |
| Jupiter Perps ETH-PERP | L +0.0096% / S +0.0048% | 1h | 2,770.5 | −0.037% | — | $41.8M | 500x | as long as short |
| HTX ETH-USDT | +0.0097% | 8h | 2,770.3 | −0.045% | $1.08B | $1.32B | 200x | as long as short |
| Variational Omni ETH | +0.0098% | 8h | 2,768.9 | −0.094% | $141.0M | $320.9M | — | as long as short |
| Paradex ETH-USD-PERP | +0.0100% | 8h | 2,770.7 | −0.029% | $15.9M | $10.8M | 50x | as long as short |
| Katana Perps ETH-USD | +0.0100% | 8h | 2,771 | −0.019% | $485K | $2.7M | 50x | as long as short |
| Nado ETH-PERP | +0.0100% | 1h | 2,770.4 | −0.040% | $14.4M | $118.8M | 50x | as long as short |
| Hyperliquid ETH | +0.0100% | 1h | 2,772.9 | +0.049% | $3.19B | $2.40B | 25x | as long as short |
| Pacifica ETH | +0.0100% | 1h | 2,771.3 | −0.009% | $31.2M | $291.4M | 50x | as long as short |
| Bybit ETHUSDT | +0.0100% | 8h | 2,771.5 | −0.002% | $2.51B | $4.64B | 150x | as long as short |
| Ondo Perps ETH-USD.P | +0.0100% | 1h | 2,770.3 | −0.045% | $2.9M | $16.6M | 25x | as long as short |
| Arcus ETH-USD | +0.0100% | 1h | 2,772.8 | +0.047% | $2.8M | $17.4M | 25x | as long as short |
| Bulk ETH-USD | +0.0100% | 1h | 2,770.6 | −0.036% | $164.9M | $252.7M | 25x | as long as short |
| KuCoin ETHUSDTM | +0.0100% | 8h | 2,770.8 | −0.029% | $422.1M | $742.1M | 100x | as long as short |
| Backpack ETH_USDC_PERP | +0.0100% | 1h | 2,771.5 | −0.001% | $15.4M | $42.9M | 50x | as long as short |
| edgeX ETHUSDC | +0.0100% | 4h | 2,769.2 | −0.086% | $179.4M | $782.8M | 100x | as long as short |
| GRVT ETH_USDT_Perp | +0.0100% | 8h | 2,769.7 | −0.068% | $161.1M | $96.6M | 50x | as long as short |
| StandX ETH-USD | +0.0100% | 1h | 2,770.4 | −0.041% | $21.4M | $57.9M | 40x | as long as short |
| Vest ETH-PERP | +0.0100% | 1h | 2,771.2 | −0.013% | — | $1.1M | 50x | as long as short |
| Polymarket Perps ETH-USD | +0.0100% | 1h | 2,772.4 | +0.031% | $10.8M | $7.8M | 50x | as long as short |
| Bluefin ETH-PERP | +0.0100% | 1h | 2,771.1 | −0.015% | $21K | $25K | 25x | as long as short |
| Derive ETH-PERPshort | +0.0100% | 1h | 2,773.2 | +0.061% | $42.7M | $29.4M | 15x | |
| SunX ETH-USDT | +0.0100% | 8h | 2,770.2 | −0.049% | $971K | $14.1M | 100x | as long as short |
| SoDEX ETH-USD | +0.0100% | 1h | 2,770.9 | −0.023% | $55.2M | $228.6M | 40x | as long as short |
| Extended ETH-USD | +0.0104% | 1h | 2,771 | −0.021% | $31.4M | $75.4M | 50x | as long as short |
| Coinbase International ETH-PERP-INTX | +0.0104% | 1h | 2,772.4 | +0.032% | $59.9M | $4.62B | 50x | as long as short |
| Kalshi KXETHPERP | +0.0108% | 8h | 2,771.8 | +0.009% | $8.5M | $673.9M | 4.9x | as long as short |
| Deribit ETH-PERPETUAL | +0.0132% | 1h | 2,772.8 | +0.044% | $258.5M | $225.1M | 50x | as long as short |
| Orderly PERP_ETH_USDC | +0.0136% | 8h | 2,773.8 | +0.080% | $32.5M | $12.0M | 100x | as long as short |
| BloFin ETH-USDT | +0.0172% | 8h | 2,771 | −0.020% | $286.1M | $195.7M | 150x | as long as short |
| Reya ETHRUSDPERP | +0.0186% | 1h | 2,770.9 | −0.024% | $7.3M | $1.1M | 25x | as long as short |
| Kraken Futures PF_ETHUSD | +0.0240% | 1h | 2,772.2 | +0.025% | $86.1M | $331.7M | 100x | as long as short |
| Hibachi ETH/USDT-Plong | +0.0472% | 1h | 2,771.5 | long leg | $285K | $1.5M | 20x |
OKX ETH-USDT-SWAP
GMX ETH/USD [ETH-USDC]
Phemex ETHUSDT
Aster ETHUSDT
ApeX Omni ETHUSDT
Aevo ETH-PERP
MEXC ETH_USDT
Binance ETHUSDT
Bullet ETH-USD
Bitget ETHUSDT
Gate ETH_USDT
Lighter ETH
Lighter RH ETH
Jupiter Perps ETH-PERP
HTX ETH-USDT
Variational Omni ETH
Paradex ETH-USD-PERP
Katana Perps ETH-USD
Nado ETH-PERP
Hyperliquid ETH
Pacifica ETH
Bybit ETHUSDT
Ondo Perps ETH-USD.P
Arcus ETH-USD
Bulk ETH-USD
KuCoin ETHUSDTM
Backpack ETH_USDC_PERP
edgeX ETHUSDC
GRVT ETH_USDT_Perp
StandX ETH-USD
Vest ETH-PERP
Polymarket Perps ETH-USD
Bluefin ETH-PERP
SunX ETH-USDT
SoDEX ETH-USD
Extended ETH-USD
Coinbase International ETH-PERP-INTX
Kalshi KXETHPERP
Deribit ETH-PERPETUAL
Orderly PERP_ETH_USDC
BloFin ETH-USDT
Reya ETHRUSDPERP
Kraken Futures PF_ETHUSD