Funding arb · Price arb /

BTC

all BTC markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0091%/8h= +10.0% APRpaid last 24h +0.014%

Price spread now: Pacifica against KuCoin+0.028%46s7-day average +0.023% · you sell dearer than you buy

Net, funding: paid 7d − costs−$11as 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−$200.202% of the position

Long on KuCoin Short on Pacifica

What this pair did over the last

the charts below follow

Funding, last 7 days+0.090%+$9 on $10k

Price spread, last 7 days−0.024%−$2 · spread now +0.028%, 7d avg +0.023%

Together, before fees+0.066%+ Points / potential airdropPacifica: Active · farm board+$7 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.023%, so right now this pair is about funding alone: +$3 a day on $10k at the current rate. The two prices were read 46 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	KuCoin XBTUSDTM	86,551.2	0.0009	pay 0.0009% / 8h	52m 52s	$850.7M	$713.9M	125x
Short	Pacifica BTC	86,575.3	0.0100	get 0.0013% / 1h	52m 52s	$41.2M	$521.5M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Pacifica against KuCoin. 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 KuCoinbpFee PacificabpOrdersPrice spread, now +0.028%Rate

Funding earned: $19.11
Price spread: +0.028% → +0.023%: $0.47
Slippage, 4 orders: −$0.23
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Pacifica: 4 bp × 2 orders: −$8
Net: −$0.66
Costs to cover: 0.202%
Break-even: 7.2 days

Slippage from KuCoin: live order book, 6 min ago; Pacifica: live order book, 1 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 KuCoin live order book, 6 min ago	0.01 bp	6.0 bp −$6	6.5 bp −$65	8.0 bp −$804	doesn't fit
Sell Pacifica live order book, 1 min ago	0.06 bp	4.1 bp −$4	4.2 bp −$42	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
Phoenix BTC	−0.0118%	1h	86,543	−0.009%	$2.2M	$11.8M	40x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	86,521	−0.035%	$9K	$3K	50x	as long as short
Injective BTC/USDC PERP	−0.0035%	1h	86,601	+0.058%	$333K	$26.8M	52x	as long as short
RISEx BTC/USDC	−0.0024%	1h	86,596.2	+0.052%	$8.3M	$42.9M	25x	as long as short
01 Exchange BTCUSD	−0.0016%	1h	86,599.1	+0.055%	$358K	$2.5M	50x	as long as short
Aster BTCUSDT	−0.0004%	8h	86,573.3	+0.026%	$504.1M	$1.15B	200x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0005% / S −0.0004%	1h	86,585.3	+0.039%	$36.9M	—	200x	as long as short
KuCoin XBTUSDTMlong	+0.0009%	8h	86,551.2	long leg	$850.7M	$713.9M	125x
Reya BTCRUSDPERP	+0.0024%	1h	86,573.8	+0.026%	$6.7M	$145.3M	40x	as long as short
Deribit BTC-PERPETUAL	+0.0029%	1h	86,610.2	+0.068%	$917.1M	$1.49B	50x	as long as short

Show all 56 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX BTC-USDC	+0.0040%	8h	86,544.2	−0.008%	—	$15.4M	—	as long as short
Phemex BTCUSDT	+0.0044%	8h	86,574.7	+0.027%	$149.8M	$478.4M	150x	as long as short
dYdX BTC-USD	+0.0046%	1h	86,547.3	−0.005%	$17.0M	$21.1M	50x	as long as short
Bitget BTCUSDT	+0.0051%	8h	86,554.8	+0.004%	$2.96B	$5.12B	150x	as long as short
MEXC BTC_USDT	+0.0070%	8h	86,550.1	−0.001%	$5.13B	$5.62B	500x	as long as short
Binance BTCUSDT	+0.0071%	8h	86,553.8	+0.003%	$9.43B	$24.53B	150x	as long as short
Aevo BTC-PERP	+0.0072%	1h	86,556.5	+0.006%	$2.4M	$1.3M	20x	as long as short
Gate BTC_USDT	+0.0081%	8h	86,558.9	+0.009%	$5.88B	$10.70B	200x	as long as short
Aftermath Perps BTCUSD	+0.0091%	1h	86,502.3	−0.057%	$79K	$220K	20x	as long as short
Lighter BTC	+0.0096%	1h	86,586.8	+0.041%	$170.4M	$1.01B	50x	as long as short
Lighter RH BTC	+0.0096%	1h	86,597.9	+0.054%	$24.1M	$151.2M	50x	as long as short
Popdex BTCUSDT	+0.0096%	1h	86,589	+0.044%	$8.5M	$52.5M	100x	as long as short
Bybit BTCUSDT	+0.0099%	8h	86,554.1	+0.003%	$5.26B	$9.81B	150x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	86,565	+0.016%	$199K	$7.0M	50x	as long as short
Paradex BTC-USD-PERP	+0.0100%	8h	86,558.3	+0.008%	$4.8M	$8.5M	50x	as long as short
Nado BTC-PERP	+0.0100%	1h	86,515.6	−0.041%	$21.9M	$234.6M	50x	as long as short
Hyperliquid BTC	+0.0100%	1h	86,651	+0.115%	$3.80B	$5.11B	40x	as long as short
Pacifica BTCshort	+0.0100%	1h	86,575.3	+0.028%	$41.2M	$521.5M	50x
OKX BTC-USDT-SWAP	+0.0100%	8h	86,557.8	+0.008%	$2.54B	$12.74B	100x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	86,580	+0.033%	$3.9M	$18.6M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	86,622.8	+0.083%	$7.6M	$94.8M	40x	as long as short
Bulk BTC-USD	+0.0100%	1h	86,382.9	−0.194%	$571.1M	$18.1M	40x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	86,575.6	+0.028%	$37.8M	$154.7M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	86,463.3	−0.102%	$155.7M	$568.3M	—	as long as short
edgeX BTCUSDC	+0.0100%	4h	86,512.3	−0.045%	$279.6M	$945.1M	100x	as long as short
GRVT BTC_USDT_Perp	+0.0100%	8h	86,538.5	−0.015%	$217.2M	$173.5M	50x	as long as short
ApeX Omni BTCUSDT	+0.0100%	1h	86,442	−0.126%	$141.3M	$323.3M	100x	as long as short
StandX BTC-USD	+0.0100%	1h	86,523.5	−0.032%	$30.7M	$204.5M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	86,620.9	+0.081%	—	$11.8M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	86,586	+0.040%	$11.1M	$13.8M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	86,571.7	+0.024%	$190K	$3.3M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	86,565	+0.016%	$2.4M	$8.8M	100x	as long as short
Bluefin BTC-PERP	+0.0100%	1h	86,594.8	+0.050%	$140K	$663K	40x	as long as short
Derive BTC-PERP	+0.0100%	1h	86,597.7	+0.054%	$30.6M	$62.6M	15x	as long as short
SunX BTC-USDT	+0.0100%	8h	86,580.1	+0.033%	$3.4M	$5.4M	100x	as long as short
SoDEX BTC-USD	+0.0100%	1h	86,574	+0.026%	$60.5M	$337.6M	40x	as long as short
HTX BTC-USDT	+0.0100%	8h	86,550	−0.001%	$2.30B	$969.4M	200x	as long as short
Extended BTC-USD	+0.0104%	1h	86,528.1	−0.027%	$45.3M	$226.9M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0048%	1h	86,595.7	+0.051%	—	$99.0M	500x	as long as short
Kraken Futures PF_XBTUSD	+0.0110%	1h	86,607.7	+0.065%	$192.0M	$949.2M	100x	as long as short
Perpl BTC	+0.0112%	43m	86,582.9	+0.037%	$417K	$23.4M	6.7x	as long as short
Coinbase International BTC-PERP-INTX	+0.0112%	1h	86,618.7	+0.078%	$132.8M	$5.69B	50x	as long as short
Hibachi BTC/USDT-P	+0.0168%	1h	86,561.3	+0.012%	$718K	$8.1M	30x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0190% / S −0.0213%	1h	86,582.8	+0.037%	$15.1M	—	200x	as long as short
BloFin BTC-USDT	+0.0191%	8h	86,574.8	+0.027%	$414.3M	$658.4M	150x	as long as short
Kalshi KXBTCPERP	+0.0204%	8h	86,581	+0.034%	$9.8M	$739.4M	6.4x	as long as short