Perplvs
Hibachi
Funding rates, fees, liquidity and airdrop status compared for perpetual-futures traders.
Funding setups between these venues
Hibachi and Perpl share 0 liquid markets, but no funding setup between them has 7 days of payouts right now.
0 common liquid markets. Ranked by what the setup actually paid over 7 days after entry and exit costs — not by the instantaneous APR.
| Perpl | Hibachi | |
|---|---|---|
| Type | DEX | DEX |
| Taker fee | 0.088% | 0.045%✓ |
| Maker fee | 0.05% | 0%✓ |
| Open Interest | $512K | $1.2M✓ |
| 24h Volume | $24.9M | $25.8M✓ |
| Avg Funding APR | 30.65% | 26.49% |
| Markets | 11✓ | 8 |
| Airdrop / token | Points Active | Points Active |
Perpl and Hibachi are both perpetual-futures venues tracked on ORBIT. On fees, Hibachi is cheaper (0.045% vs 0.088% taker). On liquidity, Hibachi is deeper with $1.2M open interest, which means less slippage at size.
For a funding-arbitrage trader the practical answer is rarely “one or the other” — you often use both, going long on whichever venue has the lower funding for a given asset and short on the other. Open the Funding Screener to see where Perpl and Hibachi diverge right now, then verify the pair in the backtester.
Related venue pairs
Frequently asked questions
- Which funding setup between Perpl and Hibachi pays most?
- Hibachi and Perpl share 0 liquid markets, but no funding setup between them has 7 days of payouts right now. Ranking is by the 7-day payout after costs, not by the instantaneous APR.
- Is Perpl or Hibachi cheaper?
- Perpl charges 0.088% taker / 0.05% maker; Hibachi charges 0.045% taker / 0% maker. Hibachi has the lower taker fee, which matters most for funding arbitrage since entries and exits are taker orders.
- Which has deeper liquidity, Perpl or Hibachi?
- Perpl has $512K open interest across 11 markets; Hibachi has $1.2M across 8. Hibachi is deeper, which means lower slippage at size.
- Can I run funding arbitrage between Perpl and Hibachi?
- Yes — when an asset's funding diverges between the two, go long on the lower-funding venue and short on the higher one. Find live divergences on the ORBIT screener and backtest the exact pair before sizing it.