Funding arb · Price arb /

2Z

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.003%

Price spread now: Bybit against Pacifica+0.023%7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Pacifica Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.662%−$66 on $10k

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropPacifica: Active · farm boardneeds both histories

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Bybit is 0.023% dearer against Pacifica than usual: you sell high and buy low, +$2 on $10k if it goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Pacifica 2Z	0.05194	0.0100	pay 0.0013% / 1h	43m 45s	$75K	$14K	3x
Short	Bybit 2ZUSDT	0.05195	0.0100	get 0.0050% / 4h	3h 43m	$686K	$974K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Pacifica. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee PacificabpFee BybitbpOrdersPrice spread, now +0.023%Rate

Funding earned: $0
Price spread: +0.023% → 0.000%: $2.31
Slippage, 4 orders: no order book: not counted
Fee Pacifica: 4 bp × 2 orders: −$8
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$16.69
Costs to cover: 0.190%
Break-even: never at this rate

Slippage unknown: Pacifica: no order-book sample; Bybit: live order book, 12 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 Pacifica no order-book sample	—	—	—	—	—
Sell Bybit live order book, 12 min ago	5.77 bp	21.8 bp −$22	426.1 bp −$4,261	doesn't fit	doesn't fit

Pacifica: 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.

2Z on 17 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
Backpack 2Z_USDC_PERP	−0.0636%	1h	0.05189	−0.092%	$45K	$32K	5x	as long as short
Kraken Futures PF_2ZUSD	−0.0053%	1h	0.05203	+0.178%	$6K	$3K	10x	as long as short
Injective 2Z/USDC PERP	+0.0033%	1h	0.04980	−4.116%	$867	$213	5.5x	as long as short
Lighter 2Z	+0.0096%	1h	0.05204	+0.196%	$17K	$8K	3x	as long as short
Hyperliquid 2Z	+0.0100%	1h	0.05197	+0.058%	$653K	$410K	3x	as long as short
Aster 2ZUSDT	+0.0100%	4h	0.05196	+0.051%	$12K	$57K	5x	as long as short
Pacifica 2Zlong	+0.0100%	1h	0.05194	long leg	$75K	$14K	3x
Binance 2ZUSDT	+0.0100%	4h	0.05191	−0.054%	$2.1M	$2.4M	50x	as long as short
Bybit 2ZUSDTshort	+0.0100%	4h	0.05195	+0.023%	$686K	$974K	50x
OKX 2Z-USDT-SWAP	+0.0100%	4h	0.05193	−0.015%	$454K	$712K	20x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate 2Z_USDT	+0.0100%	4h	0.05202	+0.158%	$92K	$70K	50x	as long as short
MEXC 2Z_USDT	+0.0100%	4h	0.05195	+0.023%	$303K	$119K	50x	as long as short
KuCoin 2ZUSDTM	+0.0100%	4h	0.05194	+0.008%	$196K	$51K	50x	as long as short
Bitget 2ZUSDT	+0.0100%	4h	0.05197	+0.062%	$155K	$570K	50x	as long as short
BingX 2Z-USDT	+0.0100%	4h	0.05193	−0.015%	—	$6.5M	—	as long as short
Variational Omni 2Z	+0.0100%	4h	0.05194	−0.002%	$33K	$29K	—	as long as short
SunX 2Z-USDT	+0.0100%	4h	0.05198	+0.081%	$1K	$1.3M	20x	as long as short