Funding arb · Price arb /

BTC

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.011%

Price spread now: Pacifica against Arcus−0.036%7-day average −0.009% · 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−$16as in the Price arb table

costs, in and out, $10k−$140.136% of the position

Long on Arcus Short on Pacifica

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.011%+$1 on $10k

Price spread, last 7 days+0.030%+$3 · spread now −0.036%, 7d avg −0.009%

Together, before fees+0.040%+ Points / potential airdropPacifica: Active · farm board+$4 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Pacifica is 0.027% cheaper against Arcus than usual: you would sell low and buy high, −$3 on $10k if it goes back to its 7-day average of −0.009%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Arcus BTC-USD	86,820.6	0.0100	pay 0.0013% / 1h	14m 24s	$7.5M	$94.8M	40x
Short	Pacifica BTC	86,789.4	0.0100	get 0.0013% / 1h	14m 24s	$41.0M	$494.9M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

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

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

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 ArcusbpFee PacificabpOrdersPrice spread, now −0.036%Rate

Funding earned: $0
Price spread: −0.036% → −0.009%: −$2.65
Slippage, 4 orders: −$1.11
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Fee Pacifica: 4 bp × 2 orders: −$8
Net: −$16.26
Costs to cover: 0.136%
Break-even: never at this rate

Slippage from Arcus: live order book, 5 min ago; Pacifica: live order book, 5 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 Arcus live order book, 5 min ago	0.01 bp	3.2 bp −$3	4.6 bp −$46	5.5 bp −$555	doesn't fit
Sell Pacifica live order book, 5 min ago	0.06 bp	4.1 bp −$4	4.1 bp −$41	doesn't fit	doesn't fit

BTC on 56 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
Aftermath Perps BTCUSD	−0.0242%	1h	86,757.4	−0.073%	$85K	$188K	20x	as long as short
Perpl BTC	−0.0223%	43m	86,769.4	−0.059%	$426K	$24.6M	6.7x	as long as short
Phoenix BTC	−0.0103%	1h	86,739	−0.094%	$2.2M	$12.4M	40x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	86,751	−0.080%	$9K	$3K	50x	as long as short
dYdX BTC-USD	−0.0061%	1h	86,782.5	−0.044%	$17.6M	$20.6M	50x	as long as short
01 Exchange BTCUSD	0.0000%	1h	86,776	−0.051%	$362K	$2.4M	50x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0005% / S −0.0004%	1h	86,778.2	−0.049%	$36.9M	—	200x	as long as short
KuCoin XBTUSDTM	+0.0006%	8h	86,749.6	−0.082%	$850.3M	$707.6M	125x	as long as short
Aster BTCUSDT	+0.0007%	8h	86,739.7	−0.093%	$506.4M	$1.16B	200x	as long as short
Deribit BTC-PERPETUAL	+0.0018%	1h	86,808.5	−0.014%	$931.2M	$1.47B	50x	as long as short

Show all 56 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Reya BTCRUSDPERP	+0.0021%	1h	86,744.3	−0.088%	$6.7M	$144.4M	40x	as long as short
Phemex BTCUSDT	+0.0023%	8h	86,766.4	−0.062%	$150.4M	$472.3M	150x	as long as short
BingX BTC-USDC	+0.0028%	8h	86,737.4	−0.096%	—	$15.4M	—	as long as short
Bitget BTCUSDT	+0.0036%	8h	86,748.7	−0.083%	$2.96B	$5.08B	150x	as long as short
Injective BTC/USDC PERP	+0.0049%	1h	86,639	−0.209%	$315K	$26.8M	52x	as long as short
MEXC BTC_USDT	+0.0061%	8h	86,748.7	−0.083%	$5.20B	$5.71B	500x	as long as short
Binance BTCUSDT	+0.0061%	8h	86,747.8	−0.084%	$9.44B	$24.37B	150x	as long as short
RISEx BTC/USDC	+0.0063%	1h	86,768	−0.061%	$9.4M	$41.9M	25x	as long as short
Aevo BTC-PERP	+0.0064%	1h	86,749.6	−0.082%	$2.4M	$1.3M	20x	as long as short
Gate BTC_USDT	+0.0082%	8h	86,754.7	−0.076%	$5.85B	$10.68B	200x	as long as short
Bybit BTCUSDT	+0.0085%	8h	86,747.4	−0.084%	$5.29B	$9.71B	150x	as long as short
OKX BTC-USDT-SWAP	+0.0089%	8h	86,765	−0.064%	$2.56B	$12.75B	100x	as long as short
Lighter BTC	+0.0096%	1h	86,765.6	−0.063%	$172.0M	$1.02B	50x	as long as short
Lighter RH BTC	+0.0096%	1h	86,774.6	−0.053%	$24.1M	$154.1M	50x	as long as short
Popdex BTCUSDT	+0.0096%	1h	86,748	−0.084%	$8.5M	$52.3M	100x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	86,742	−0.091%	$202K	$6.8M	50x	as long as short
Paradex BTC-USD-PERP	+0.0100%	8h	86,800.8	−0.023%	$4.8M	$8.2M	50x	as long as short
Nado BTC-PERP	+0.0100%	1h	86,746.6	−0.085%	$21.7M	$235.5M	50x	as long as short
Hyperliquid BTC	+0.0100%	1h	86,829	+0.010%	$3.82B	$5.12B	40x	as long as short
Pacifica BTCshort	+0.0100%	1h	86,789.4	−0.036%	$41.0M	$494.9M	50x
Ondo Perps BTC-USD.P	+0.0100%	1h	86,755	−0.076%	$3.9M	$18.6M	25x	as long as short
Arcus BTC-USDlong	+0.0100%	1h	86,820.6	long leg	$7.5M	$94.8M	40x
Bulk BTC-USD	+0.0100%	1h	86,792.1	−0.033%	$573.3M	$22.0M	40x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	86,771.8	−0.056%	$38.1M	$149.5M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	86,796.1	−0.028%	$159.7M	$566.8M	—	as long as short
edgeX BTCUSDC	+0.0100%	4h	86,776.5	−0.051%	$280.3M	$952.5M	100x	as long as short
GRVT BTC_USDT_Perp	+0.0100%	8h	86,797.1	−0.027%	$218.0M	$187.7M	50x	as long as short
ApeX Omni BTCUSDT	+0.0100%	1h	86,813.3	−0.008%	$141.7M	$322.7M	100x	as long as short
StandX BTC-USD	+0.0100%	1h	86,791.7	−0.033%	$30.8M	$203.9M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	86,813.9	−0.008%	—	$11.6M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	86,754	−0.077%	$11.1M	$13.7M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	86,757.2	−0.073%	$197K	$3.4M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	86,768.5	−0.060%	$2.5M	$8.5M	100x	as long as short
Bluefin BTC-PERP	+0.0100%	1h	86,777.3	−0.050%	$141K	$619K	40x	as long as short
Derive BTC-PERP	+0.0100%	1h	86,759.3	−0.071%	$30.0M	$61.8M	15x	as long as short
SunX BTC-USDT	+0.0100%	8h	86,765	−0.064%	$3.4M	$5.5M	100x	as long as short
SoDEX BTC-USD	+0.0100%	1h	86,766	−0.063%	$60.6M	$336.5M	40x	as long as short
HTX BTC-USDT	+0.0100%	8h	86,761.5	−0.068%	$2.30B	$959.1M	200x	as long as short
Extended BTC-USD	+0.0104%	1h	86,735	−0.099%	$46.3M	$226.8M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0048%	1h	86,789.6	−0.036%	—	$98.9M	500x	as long as short
Kraken Futures PF_XBTUSD	+0.0116%	1h	86,805.3	−0.018%	$188.1M	$934.1M	100x	as long as short
Coinbase International BTC-PERP-INTX	+0.0120%	1h	86,813	−0.009%	$131.9M	$5.86B	50x	as long as short
Kalshi KXBTCPERP	+0.0160%	8h	86,797	−0.027%	$9.7M	$727.5M	6.4x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0180% / S −0.0209%	1h	86,769.5	−0.059%	$15.0M	—	200x	as long as short
BloFin BTC-USDT	+0.0181%	8h	86,766.2	−0.063%	$415.5M	$656.2M	150x	as long as short
Hibachi BTC/USDT-P	+0.0200%	1h	86,784.5	−0.042%	$779K	$7.7M	30x	as long as short