Funding arb · Price arb /

BTC

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0011%/8h= −1.2% APRpaid last 24h −0.007%

Price spread now: Binance against Pacifica−0.010%7-day average −0.022% · you buy dearer than you sell

Net, funding: paid 7d − costs−$22as in the Funding arb table

Net, price: spread back to 7d avg − costs−$17as in the Price arb table

costs, in and out, $10k−$180.181% of the position

Long on Pacifica Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days−0.043%−$4 on $10k

Price spread, last 7 days+0.001%$0 · spread now −0.010%, 7d avg −0.022%

Together, before fees−0.041%+ Points / potential airdropPacifica: Active · farm board−$4 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.022%, so right now this pair is about funding alone: $0 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Pacifica BTC	85,676.8	0.0100	pay 0.0013% / 1h	32m 29s	$40.7M	$569.7M	50x
Short	Binance BTCUSDT	85,668.1	0.0089	get 0.0089% / 8h	6h 32m	$9.33B	$24.47B	150x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance 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 BinancebpOrdersPrice spread, now −0.010%Rate

Funding earned: −$2.38
Price spread: −0.010% → −0.022%: $1.18
Slippage, 4 orders: −$0.15
Fee Pacifica: 4 bp × 2 orders: −$8
Fee Binance: 5 bp × 2 orders: −$10
Net: −$19.34
Costs to cover: 0.181%
Break-even: never at this rate

Slippage from Pacifica: live order book, 2 min ago; Binance: live order book, 12 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	doesn't fit	doesn't fit	doesn't fit
Sell Binance live order book, 12 min ago	0.01 bp	5.0 bp −$5	5.2 bp −$52	6.2 bp −$624	7.7 bp −$3,850

BTC on 55 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	−0.0144%	1h	85,641	−0.042%	$2.2M	$10.5M	40x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	85,596	−0.094%	$8K	$3K	50x	as long as short
01 Exchange BTCUSD	−0.0064%	1h	85,654.9	−0.026%	$364K	$2.4M	50x	as long as short
Perpl BTC	0.0000%	43m	85,669.5	−0.009%	$515K	$20.9M	6.7x	as long as short
dYdX BTC-USD	+0.0001%	1h	85,662	−0.017%	$16.8M	$20.9M	50x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0004% / S −0.0004%	1h	85,563.6	−0.132%	$36.6M	—	200x	as long as short
Injective BTC/USDC PERP	+0.0020%	1h	85,691	+0.017%	$340K	$26.9M	52x	as long as short
Aster BTCUSDT	+0.0034%	8h	85,635.4	−0.048%	$496.5M	$1.14B	200x	as long as short
KuCoin XBTUSDTM	+0.0036%	8h	85,599.9	−0.090%	$901.4M	$755.9M	125x	as long as short
ApeX Omni BTCUSDT	+0.0037%	1h	85,595.3	−0.095%	$140.0M	$320.4M	100x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
RISEx BTC/USDC	+0.0044%	1h	85,672.7	−0.005%	$7.8M	$42.4M	25x	as long as short
BingX BTC-USDT	+0.0054%	8h	85,656.7	−0.024%	—	$1.58B	—	as long as short
Reya BTCRUSDPERP	+0.0056%	1h	85,669.1	−0.009%	$6.7M	$146.2M	40x	as long as short
HTX BTC-USDT	+0.0058%	8h	85,534.2	−0.166%	$2.27B	$954.7M	200x	as long as short
Nado BTC-PERP	+0.0065%	1h	85,625.4	−0.060%	$22.8M	$228.6M	50x	as long as short
Bitget BTCUSDT	+0.0069%	8h	85,673.7	−0.004%	$2.94B	$5.11B	150x	as long as short
Aevo BTC-PERP	+0.0080%	1h	85,563.3	−0.133%	$2.5M	$1.8M	20x	as long as short
MEXC BTC_USDT	+0.0088%	8h	85,659.1	−0.021%	$5.06B	$5.71B	500x	as long as short
Binance BTCUSDTshort	+0.0089%	8h	85,668.1	−0.010%	$9.33B	$24.47B	150x
Gate BTC_USDT	+0.0091%	8h	85,656.5	−0.024%	$5.61B	$10.50B	200x	as long as short
Lighter BTC	+0.0096%	1h	85,650.7	−0.031%	$169.4M	$985.7M	50x	as long as short
Lighter RH BTC	+0.0096%	1h	85,638.7	−0.045%	$23.2M	$146.1M	50x	as long as short
Popdex BTCUSDT	+0.0096%	1h	85,668	−0.010%	$8.4M	$52.1M	100x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	85,625	−0.061%	$207K	$7.5M	50x	as long as short
Paradex BTC-USD-PERP	+0.0100%	8h	85,621.8	−0.064%	$3.8M	$8.5M	50x	as long as short
Hyperliquid BTC	+0.0100%	1h	85,743	+0.077%	$3.76B	$5.00B	40x	as long as short
Pacifica BTClong	+0.0100%	1h	85,676.8	long leg	$40.7M	$569.7M	50x
Bybit BTCUSDT	+0.0100%	8h	85,678.4	+0.002%	$5.29B	$9.80B	150x	as long as short
OKX BTC-USDT-SWAP	+0.0100%	8h	85,685.2	+0.010%	$2.54B	$12.42B	100x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	85,658	−0.022%	$3.9M	$18.0M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	85,631.8	−0.053%	$7.2M	$98.3M	40x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	85,548	−0.150%	$35.1M	$162.6M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	85,619.2	−0.067%	$156.3M	$559.9M	—	as long as short
edgeX BTCUSDC	+0.0100%	4h	85,580.7	−0.112%	$278.2M	$944.9M	100x	as long as short
GRVT BTC_USDT_Perp	+0.0100%	8h	85,597.4	−0.093%	$214.9M	$168.6M	50x	as long as short
StandX BTC-USD	+0.0100%	1h	85,612.6	−0.075%	$30.3M	$208.2M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	85,709.9	+0.039%	—	$11.8M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	85,671	−0.007%	$11.0M	$14.2M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	85,574.4	−0.120%	$189K	$3.3M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	85,575.3	−0.119%	$2.4M	$9.1M	100x	as long as short
Bluefin BTC-PERP	+0.0100%	1h	85,608.7	−0.080%	$186K	$709K	40x	as long as short
Derive BTC-PERP	+0.0100%	1h	85,571.7	−0.123%	$29.9M	$57.6M	15x	as long as short
SunX BTC-USDT	+0.0100%	8h	85,521.5	−0.181%	$2.9M	$6.6M	100x	as long as short
SoDEX BTC-USD	+0.0100%	1h	85,569	−0.126%	$59.9M	$337.5M	40x	as long as short
Phemex BTCUSDT	+0.0100%	8h	85,553.1	−0.144%	$153.1M	$480.3M	150x	as long as short
Bulk BTC-USD	+0.0100%	1h	85,587.5	−0.104%	$583.6M	$150.2M	40x	as long as short
Extended BTC-USD	+0.0104%	1h	85,632.9	−0.051%	$43.9M	$228.7M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0056%	1h	85,595.7	−0.095%	—	$101.9M	500x	as long as short
Coinbase International BTC-PERP-INTX	+0.0112%	1h	85,587.3	−0.105%	$130.7M	$5.21B	50x	as long as short
Deribit BTC-PERPETUAL	+0.0122%	1h	85,594.4	−0.096%	$894.0M	$1.54B	50x	as long as short
Hibachi BTC/USDT-P	+0.0136%	1h	85,599.8	−0.090%	$696K	$7.9M	30x	as long as short
Kraken Futures PF_XBTUSD	+0.0146%	1h	85,569.5	−0.125%	$188.5M	$966.6M	100x	as long as short
Aftermath Perps BTCUSD	+0.0160%	1h	85,637.1	−0.046%	$78K	$219K	20x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0204% / S −0.0191%	1h	85,579.1	−0.114%	$13.6M	—	200x	as long as short
Kalshi KXBTCPERP	+0.0207%	8h	85,610	−0.078%	$10.0M	$771.1M	6.4x	as long as short