Funding arb · Price arb /

BTC

all BTC markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 21:00 UTC+0.0064%/8h= +7.1% APRpaid last 24h +0.010%

Price spread now: Pacifica against Aster+0.097%58s7-day average +0.021% · you sell dearer than you buy

Net, funding: paid 7d − costs−$10as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$160.161% of the position

Long on Aster Short on Pacifica

What this pair did over the last

the charts below follow

Funding, last 7 days+0.066%+$7 on $10k

Price spread, last 7 days−0.097%−$10 · spread now +0.097%, 7d avg +0.021%

Together, before fees−0.031%+ Points / potential airdropAster: Stage 5 · Pacifica: Active · farm board−$3 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and Pacifica is 0.076% dearer against Aster than usual: you sell high and buy low: +$8 more if the spread goes back to its 7-day average of +0.021%. The two prices were read 58 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster BTCUSDT	87,255	0.0036	pay 0.0036% / 8h	3h 29m	$510.6M	$1.16B	200x
Short	Pacifica BTC	87,340	0.0100	get 0.0013% / 1h	29m 47s	$37.0M	$459.3M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Pacifica against Aster. 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 AsterbpFee PacificabpOrdersPrice spread, now +0.097%Rate

Funding earned: $13.53
Price spread: +0.097% → +0.021%: $7.64
Slippage, 4 orders: −$0.13
Fee Aster: 4 bp × 2 orders: −$8
Fee Pacifica: 4 bp × 2 orders: −$8
Net: $5.04
Costs to cover: 0.161%
Break-even: 4.4 days

Slippage from Aster: 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 Aster live order book, 5 min ago	0.01 bp	4.0 bp −$4	4.1 bp −$41	4.9 bp −$486	6.7 bp −$3,327
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
dYdX BTC-USD	−0.0124%	1h	87,251.1	−0.004%	$18.3M	$19.7M	50x	as long as short
Phoenix BTC	−0.0123%	1h	87,236	−0.022%	$2.2M	$12.0M	40x	as long as short
Perpl BTC	−0.0112%	43m	87,304.2	+0.056%	$428K	$25.9M	6.7x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	87,250	−0.006%	$9K	$3K	50x	as long as short
Aftermath Perps BTCUSD	−0.0050%	1h	87,082.4	−0.198%	$85K	$188K	20x	as long as short
ApeX Omni BTCUSDT	−0.0034%	1h	86,865.4	−0.446%	$141.8M	$321.8M	100x	as long as short
01 Exchange BTCUSD	−0.0016%	1h	87,334.3	+0.091%	$297K	$2.4M	50x	as long as short
KuCoin XBTUSDTM	−0.0005%	8h	87,245.7	−0.011%	$846.2M	$699.7M	125x	as long as short
Deribit BTC-PERPETUAL	0.0000%	1h	87,267.1	+0.014%	$934.1M	$1.32B	50x	as long as short
Phemex BTCUSDT	+0.0002%	8h	87,248	−0.008%	$153.6M	$457.2M	150x	as long as short

Show all 56 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
gTrade (Gains Network) BTC/USD	L +0.0005% / S −0.0004%	1h	87,260.4	+0.006%	$36.9M	—	200x	as long as short
BingX BTC-USDC	+0.0010%	8h	87,245.6	−0.011%	—	$15.2M	—	as long as short
RISEx BTC/USDC	+0.0010%	1h	87,377.6	+0.141%	$8.7M	$40.9M	25x	as long as short
Bitget BTCUSDT	+0.0014%	8h	87,243.1	−0.014%	$2.98B	$5.05B	150x	as long as short
Reya BTCRUSDPERP	+0.0016%	1h	87,264.9	+0.011%	$7.0M	$141.9M	40x	as long as short
Injective BTC/USDC PERP	+0.0035%	1h	87,347	+0.105%	$312K	$26.9M	52x	as long as short
Aster BTCUSDTlong	+0.0036%	8h	87,255	long leg	$510.6M	$1.16B	200x
OKX BTC-USDT-SWAP	+0.0038%	8h	87,275.7	+0.024%	$2.63B	$12.68B	100x	as long as short
Kraken Futures PF_XBTUSD	+0.0041%	1h	87,289.4	+0.039%	$198.4M	$916.7M	100x	as long as short
MEXC BTC_USDT	+0.0044%	8h	87,266.1	+0.013%	$5.24B	$5.53B	500x	as long as short
Binance BTCUSDT	+0.0047%	8h	87,234.1	−0.024%	$9.57B	$24.05B	150x	as long as short
Aevo BTC-PERP	+0.0048%	1h	87,246.7	−0.009%	$2.4M	$1.3M	20x	as long as short
Gate BTC_USDT	+0.0060%	8h	87,264.8	+0.011%	$5.95B	$10.49B	200x	as long as short
SoDEX BTC-USD	+0.0075%	1h	87,241	−0.016%	$61.1M	$336.4M	40x	as long as short
Bybit BTCUSDT	+0.0077%	8h	87,250.7	−0.005%	$5.35B	$9.59B	150x	as long as short
Bulk BTC-USD	+0.0090%	1h	87,280.5	+0.029%	$575.7M	$25.9M	40x	as long as short
Variational Omni BTC	+0.0091%	8h	87,268.9	+0.016%	$164.1M	$550.2M	—	as long as short
Orderly PERP_BTC_USDC	+0.0092%	8h	87,252.2	−0.003%	$2.5M	$8.2M	100x	as long as short
Lighter BTC	+0.0096%	1h	87,244.8	−0.012%	$174.5M	$1.00B	50x	as long as short
Lighter RH BTC	+0.0096%	1h	87,255.6	+0.001%	$24.7M	$148.7M	50x	as long as short
GRVT BTC_USDT_Perp	+0.0096%	8h	86,876.6	−0.434%	$218.0M	$185.7M	50x	as long as short
Popdex BTCUSDT	+0.0096%	1h	87,331	+0.087%	$8.6M	$52.1M	100x	as long as short
Paradex BTC-USD-PERP	+0.0099%	8h	87,385.3	+0.149%	$4.4M	$7.8M	50x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	87,342	+0.100%	$185K	$6.6M	50x	as long as short
Nado BTC-PERP	+0.0100%	1h	87,241.1	−0.016%	$23.3M	$235.3M	50x	as long as short
Pacifica BTCshort	+0.0100%	1h	87,340	+0.097%	$37.0M	$459.3M	50x
Ondo Perps BTC-USD.P	+0.0100%	1h	87,350	+0.109%	$4.0M	$18.8M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	87,415.1	+0.184%	$7.5M	$94.0M	40x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	87,226.8	−0.032%	$38.7M	$143.8M	75x	as long as short
edgeX BTCUSDC	+0.0100%	4h	86,866.8	−0.445%	$285.4M	$919.2M	100x	as long as short
StandX BTC-USD	+0.0100%	1h	87,269.4	+0.016%	$31.1M	$206.2M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	87,331.1	+0.087%	—	$11.6M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	87,304	+0.056%	$11.1M	$13.7M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	87,214	−0.047%	$229K	$3.4M	20x	as long as short
Bluefin BTC-PERP	+0.0100%	1h	87,215.4	−0.045%	$161K	$574K	40x	as long as short
Derive BTC-PERP	+0.0100%	1h	87,240.4	−0.017%	$30.2M	$60.6M	15x	as long as short
SunX BTC-USDT	+0.0100%	8h	87,244.4	−0.012%	$3.5M	$5.7M	100x	as long as short
HTX BTC-USDT	+0.0100%	8h	87,238.3	−0.019%	$2.32B	$935.0M	200x	as long as short
Extended BTC-USD	+0.0104%	1h	87,232.8	−0.025%	$46.8M	$228.0M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0048%	1h	87,321	+0.076%	—	$95.0M	500x	as long as short
Hibachi BTC/USDT-P	+0.0112%	1h	87,253.1	−0.002%	$621K	$6.9M	30x	as long as short
Kalshi KXBTCPERP	+0.0125%	8h	87,341	+0.099%	$9.2M	$715.6M	6.4x	as long as short
Coinbase International BTC-PERP-INTX	+0.0136%	1h	87,288	+0.038%	$132.8M	$5.99B	50x	as long as short
BloFin BTC-USDT	+0.0164%	8h	87,279.7	+0.028%	$423.5M	$638.8M	150x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0179% / S −0.0206%	1h	87,232.6	−0.026%	$14.5M	—	200x	as long as short
Hyperliquid BTC	+0.0264%	1h	87,348	+0.107%	$4.00B	$4.97B	40x	as long as short