Funding arb · Price arb /

2Z

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Hyperliquid against Pacifica−0.033%7-day average — · you buy dearer than you sell

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

Long on Pacifica Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days−0.544%−$54 on $10k

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

Together, before fees—+ Points / potential airdropPacifica: Active · Hyperliquid: Season 2 · farm boardneeds both histories

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Hyperliquid is 0.033% cheaper against Pacifica than usual: you would sell low and buy high, −$3 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	0.05195	0.0100	pay 0.0013% / 1h	12m 14s	$75K	$14K	3x
Short	Hyperliquid 2Z	0.05193	0.0100	get 0.0013% / 1h	12m 14s	$666K	$374K	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid 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 HyperliquidbpOrdersPrice spread, now −0.033%Rate

Funding earned: $0
Price spread: −0.033% → 0.000%: −$3.27
Slippage, 4 orders: no order book: not counted
Fee Pacifica: 4 bp × 2 orders: −$8
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$20.27
Costs to cover: 0.170%
Break-even: never at this rate

Slippage unknown: Pacifica: no order-book sample; Hyperliquid: live order book, 38 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 Hyperliquid live order book, 38 min ago	1.25 bp	14.1 bp −$14	doesn't fit	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	−0.0549%	1h	0.05195	+0.006%	$45K	$32K	5x	as long as short
Injective 2Z/USDC PERP	+0.0033%	1h	0.04980	−4.133%	$867	$213	5.5x	as long as short
Lighter 2Z	+0.0096%	1h	0.05202	+0.141%	$16K	$8K	3x	as long as short
Hyperliquid 2Zshort	+0.0100%	1h	0.05193	−0.033%	$666K	$374K	3x
Aster 2ZUSDT	+0.0100%	4h	0.05197	+0.040%	$12K	$57K	5x	as long as short
Pacifica 2Zlong	+0.0100%	1h	0.05195	long leg	$75K	$14K	3x
Binance 2ZUSDT	+0.0100%	4h	0.05192	−0.049%	$2.1M	$2.3M	50x	as long as short
Bybit 2ZUSDT	+0.0100%	4h	0.05199	+0.083%	$685K	$961K	50x	as long as short
OKX 2Z-USDT-SWAP	+0.0100%	4h	0.05197	+0.044%	$447K	$709K	20x	as long as short
Gate 2Z_USDT	+0.0100%	4h	0.05191	−0.071%	$92K	$69K	50x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC 2Z_USDT	+0.0100%	4h	0.05196	+0.025%	$294K	$125K	50x	as long as short
KuCoin 2ZUSDTM	+0.0100%	4h	0.05196	+0.031%	$191K	$52K	50x	as long as short
Bitget 2ZUSDT	+0.0100%	4h	0.05199	+0.083%	$147K	$611K	50x	as long as short
BingX 2Z-USDT	+0.0100%	4h	0.05194	−0.013%	—	$6.5M	—	as long as short
Variational Omni 2Z	+0.0100%	4h	0.05202	+0.141%	$33K	$29K	—	as long as short
SunX 2Z-USDT	+0.0100%	4h	0.05197	+0.044%	$1K	$1.2M	20x	as long as short
Kraken Futures PF_2ZUSD	+0.1049%	1h	0.05205	+0.200%	$6K	$3K	10x	as long as short