Funding arb · Price arb /

BTC

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0109%/8h= −11.9% APRpaid last 24h −0.010%

Price spread now: Aster against Pacifica−0.051%48s7-day average −0.022% · you buy dearer than you sell

Net, funding: paid 7d − costs−$23as 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−$170.168% of the position

Long on Pacifica Short on Aster

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+0.044%+$4 · spread now −0.051%, 7d avg −0.022%

Together, before fees−0.022%+ Points / potential airdropPacifica: Active · Aster: Stage 5 · farm board−$2 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and Aster is 0.029% cheaper against Pacifica than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of −0.022%). Swap the legs. The two prices were read 48 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	Pacifica BTC	86,393.5	0.0100	pay 0.0013% / 1h	1m 56s	$40.7M	$517.9M	50x
Short	Aster BTCUSDT	86,349.8	−0.0009	pay 0.0009% / 8h	1h 01m	$502.8M	$1.15B	200x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against Pacifica. 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 PacificabpFee AsterbpOrdersPrice spread, now −0.051%Rate

Funding earned: −$22.8
Price spread: −0.051% → −0.022%: −$2.89
Slippage, 4 orders: −$0.79
Fee Pacifica: 4 bp × 2 orders: −$8
Fee Aster: 4 bp × 2 orders: −$8
Net: −$42.48
Costs to cover: 0.168%
Break-even: never at this rate

Slippage from Pacifica: live order book, 2 min ago; Aster: live order book, 2 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 Pacifica live order book, 2 min ago	0.06 bp	4.1 bp −$4	4.5 bp −$45	doesn't fit	doesn't fit
Sell Aster live order book, 2 min ago	0.01 bp	4.0 bp −$4	5.1 bp −$51	6.0 bp −$598	8.3 bp −$4,139

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
Bluefin BTC-PERP	−0.0436%	1h	86,385.1	−0.010%	$140K	$663K	40x	as long as short
Phoenix BTC	−0.0159%	1h	86,366	−0.032%	$2.2M	$11.8M	40x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	86,356	−0.043%	$9K	$3K	50x	as long as short
01 Exchange BTCUSD	−0.0016%	1h	86,368.1	−0.029%	$357K	$2.5M	50x	as long as short
Aster BTCUSDTshort	−0.0009%	8h	86,349.8	−0.051%	$502.8M	$1.15B	200x
gTrade (Gains Network) BTC/USD	L +0.0005% / S −0.0004%	1h	86,376.8	−0.019%	$36.8M	—	200x	as long as short
KuCoin XBTUSDTM	+0.0006%	8h	86,351	−0.049%	$849.0M	$713.4M	125x	as long as short
RISEx BTC/USDC	+0.0006%	1h	86,365.4	−0.033%	$8.4M	$42.8M	25x	as long as short
dYdX BTC-USD	+0.0009%	1h	86,352	−0.048%	$16.9M	$21.1M	50x	as long as short
Reya BTCRUSDPERP	+0.0023%	1h	86,351	−0.049%	$6.7M	$145.1M	40x	as long as short

Show all 56 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Injective BTC/USDC PERP	+0.0024%	1h	86,403	+0.011%	$332K	$26.8M	52x	as long as short
BingX BTC-USDT	+0.0038%	8h	86,356.6	−0.043%	—	$1.59B	—	as long as short
Phemex BTCUSDT	+0.0043%	8h	86,356.7	−0.043%	$149.7M	$477.5M	150x	as long as short
Bitget BTCUSDT	+0.0049%	8h	86,351.2	−0.049%	$2.95B	$5.11B	150x	as long as short
Aevo BTC-PERP	+0.0064%	1h	86,350.2	−0.050%	$2.4M	$1.3M	20x	as long as short
MEXC BTC_USDT	+0.0065%	8h	86,352.1	−0.048%	$5.12B	$5.72B	500x	as long as short
Binance BTCUSDT	+0.0067%	8h	86,352	−0.048%	$9.41B	$24.49B	150x	as long as short
Aftermath Perps BTCUSD	+0.0071%	1h	86,389.2	−0.005%	$79K	$220K	20x	as long as short
Gate BTC_USDT	+0.0082%	8h	86,351	−0.049%	$5.84B	$10.79B	200x	as long as short
Deribit BTC-PERPETUAL	+0.0083%	1h	86,392.5	−0.001%	$916.6M	$1.49B	50x	as long as short
Lighter BTC	+0.0096%	1h	86,363.4	−0.035%	$170.2M	$1.02B	50x	as long as short
Lighter RH BTC	+0.0096%	1h	86,376.5	−0.020%	$24.0M	$153.1M	50x	as long as short
Popdex BTCUSDT	+0.0096%	1h	86,362	−0.036%	$8.4M	$52.4M	100x	as long as short
Bybit BTCUSDT	+0.0098%	8h	86,356.7	−0.043%	$5.25B	$9.80B	150x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	86,339	−0.063%	$205K	$6.9M	50x	as long as short
Paradex BTC-USD-PERP	+0.0100%	8h	86,403.5	+0.012%	$4.8M	$8.5M	50x	as long as short
Nado BTC-PERP	+0.0100%	1h	86,361	−0.038%	$21.8M	$234.5M	50x	as long as short
Hyperliquid BTC	+0.0100%	1h	86,425	+0.036%	$3.79B	$5.10B	40x	as long as short
Pacifica BTClong	+0.0100%	1h	86,393.5	long leg	$40.7M	$517.9M	50x
OKX BTC-USDT-SWAP	+0.0100%	8h	86,357.3	−0.042%	$2.54B	$12.69B	100x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	86,380	−0.016%	$3.9M	$18.6M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	86,400.5	+0.008%	$7.7M	$94.6M	40x	as long as short
Bulk BTC-USD	+0.0100%	1h	86,320.9	−0.084%	$570.7M	$18.4M	40x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	86,347.9	−0.053%	$37.8M	$154.7M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	86,349.5	−0.051%	$155.5M	$568.5M	—	as long as short
edgeX BTCUSDC	+0.0100%	4h	86,320.5	−0.084%	$279.0M	$945.5M	100x	as long as short
GRVT BTC_USDT_Perp	+0.0100%	8h	86,351.2	−0.049%	$216.7M	$173.7M	50x	as long as short
ApeX Omni BTCUSDT	+0.0100%	1h	86,285.8	−0.125%	$141.1M	$323.8M	100x	as long as short
StandX BTC-USD	+0.0100%	1h	86,357	−0.042%	$30.6M	$204.2M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	86,409.9	+0.019%	—	$11.7M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	86,366	−0.032%	$11.1M	$13.8M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	86,364.2	−0.034%	$190K	$3.3M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	86,365.6	−0.032%	$2.4M	$8.7M	100x	as long as short
Derive BTC-PERP	+0.0100%	1h	86,386.4	−0.008%	$30.6M	$62.2M	15x	as long as short
SunX BTC-USDT	+0.0100%	8h	86,362.9	−0.035%	$3.4M	$5.4M	100x	as long as short
SoDEX BTC-USD	+0.0100%	1h	86,356	−0.043%	$60.4M	$337.4M	40x	as long as short
HTX BTC-USDT	+0.0100%	8h	86,353.2	−0.047%	$2.29B	$968.8M	200x	as long as short
Extended BTC-USD	+0.0104%	1h	86,334.4	−0.068%	$45.5M	$226.5M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0048%	1h	86,376	−0.020%	—	$98.9M	500x	as long as short
Perpl BTC	+0.0112%	43m	86,366.1	−0.032%	$418K	$23.5M	6.7x	as long as short
Coinbase International BTC-PERP-INTX	+0.0112%	1h	86,395.5	+0.002%	$131.9M	$5.67B	50x	as long as short
Kraken Futures PF_XBTUSD	+0.0121%	1h	86,377.7	−0.018%	$191.6M	$946.6M	100x	as long as short
Hibachi BTC/USDT-P	+0.0144%	1h	86,379.4	−0.016%	$718K	$8.1M	30x	as long as short
BloFin BTC-USDT	+0.0186%	8h	86,343.9	−0.057%	$414.3M	$654.0M	150x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0188% / S −0.0212%	1h	86,370.2	−0.027%	$15.1M	—	200x	as long as short
Kalshi KXBTCPERP	+0.0199%	8h	86,383	−0.012%	$9.6M	$736.6M	6.4x	as long as short