Funding arb · Price arb /

BTC

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0039%/8h= −4.3% APRpaid last 24h −0.020%

Price spread now: BingX against Pacifica−0.026%7-day average −0.023% · you buy dearer than you sell

Net, funding: paid 7d − costs−$26as in the Funding arb table

Net, price: spread back to 7d avg − costs−$19as in the Price arb table

costs, in and out, $10k−$180.183% of the position

Long on Pacifica Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.076%−$8 on $10k

Price spread, last 7 days+0.012%+$1 · spread now −0.026%, 7d avg −0.023%

Together, before fees−0.063%+ Points / potential airdropPacifica: Active · farm board−$6 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: −$1 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	85,610.5	0.0100	pay 0.0013% / 1h	31m 08s	$40.1M	$578.1M	50x
Short	BingX BTC-USDT	85,588.3	0.0061	get 0.0061% / 8h	4h 31m	—	$1.55B	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX 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 BingXbpOrdersPrice spread, now −0.026%Rate

Funding earned: −$8.19
Price spread: −0.026% → −0.023%: −$0.27
Slippage, 4 orders: −$0.25
Fee Pacifica: 4 bp × 2 orders: −$8
Fee BingX: 5 bp × 2 orders: −$10
Net: −$26.72
Costs to cover: 0.183%
Break-even: never at this rate

Slippage from Pacifica: live order book, 3 min ago; BingX: live order book, 8 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, 3 min ago	0.06 bp	4.1 bp −$4	4.6 bp −$46	doesn't fit	doesn't fit
Sell BingX live order book, 8 min ago	0.02 bp	5.0 bp −$5	5.0 bp −$50	5.0 bp −$502	5.3 bp −$2,674

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	−0.0179%	1h	85,517	−0.109%	$2.2M	$10.3M	40x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	85,528	−0.096%	$8K	$3K	50x	as long as short
01 Exchange BTCUSD	−0.0056%	1h	85,559.9	−0.059%	$365K	$2.3M	50x	as long as short
BloFin BTC-USDT	−0.0024%	8h	85,577.7	−0.038%	$418.0M	$668.3M	150x	as long as short
KuCoin XBTUSDTM	−0.0014%	8h	85,547	−0.074%	$921.3M	$750.4M	125x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0005% / S −0.0004%	1h	85,576	−0.040%	$36.6M	—	200x	as long as short
Aster BTCUSDT	+0.0015%	8h	85,575.1	−0.041%	$515.7M	$1.10B	200x	as long as short
dYdX BTC-USD	+0.0016%	1h	85,591.7	−0.022%	$16.7M	$21.3M	50x	as long as short
Bluefin BTC-PERP	+0.0020%	1h	85,611	+0.001%	$207K	$738K	40x	as long as short
Arcus BTC-USD	+0.0021%	1h	85,567.8	−0.050%	$4.8M	$97.8M	40x	as long as short

Show all 56 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado BTC-PERP	+0.0037%	1h	85,558.7	−0.061%	$25.6M	$221.8M	50x	as long as short
BingX BTC-USDTshort	+0.0061%	8h	85,588.3	−0.026%	—	$1.55B	—
Bitget BTCUSDT	+0.0077%	8h	85,591.5	−0.022%	$2.95B	$5.06B	150x	as long as short
Phemex BTCUSDT	+0.0080%	8h	85,560	−0.059%	$148.2M	$486.1M	150x	as long as short
Reya BTCRUSDPERP	+0.0081%	1h	85,558.7	−0.061%	$6.7M	$146.7M	40x	as long as short
MEXC BTC_USDT	+0.0093%	8h	85,586.5	−0.028%	$5.06B	$5.62B	500x	as long as short
Binance BTCUSDT	+0.0096%	8h	85,590	−0.024%	$9.37B	$24.12B	150x	as long as short
Lighter BTC	+0.0096%	1h	85,576.6	−0.040%	$173.2M	$1.01B	50x	as long as short
Lighter RH BTC	+0.0096%	1h	85,586.6	−0.028%	$23.9M	$148.9M	50x	as long as short
Popdex BTCUSDT	+0.0096%	1h	85,562	−0.057%	$8.4M	$52.8M	100x	as long as short
Aevo BTC-PERP	+0.0096%	1h	85,559.3	−0.060%	$2.5M	$1.7M	20x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	85,529	−0.095%	$212K	$8.0M	50x	as long as short
Paradex BTC-USD-PERP	+0.0100%	8h	85,638.5	+0.033%	$4.5M	$8.7M	50x	as long as short
Hyperliquid BTC	+0.0100%	1h	85,664	+0.063%	$3.75B	$4.98B	40x	as long as short
Pacifica BTClong	+0.0100%	1h	85,610.5	long leg	$40.1M	$578.1M	50x
Bybit BTCUSDT	+0.0100%	8h	85,586	−0.029%	$5.22B	$9.77B	150x	as long as short
OKX BTC-USDT-SWAP	+0.0100%	8h	85,599.9	−0.012%	$2.58B	$12.16B	100x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	85,576	−0.040%	$3.9M	$18.1M	25x	as long as short
Gate BTC_USDT	+0.0100%	8h	85,593.4	−0.020%	$5.51B	$10.69B	200x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	85,574.4	−0.042%	$35.7M	$176.3M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	85,543.7	−0.078%	$153.8M	$564.0M	—	as long as short
edgeX BTCUSDC	+0.0100%	4h	85,356.5	−0.297%	$278.9M	$919.2M	100x	as long as short
GRVT BTC_USDT_Perp	+0.0100%	8h	85,388.8	−0.259%	$214.3M	$169.8M	50x	as long as short
ApeX Omni BTCUSDT	+0.0100%	1h	85,483.1	−0.149%	$139.8M	$314.8M	100x	as long as short
StandX BTC-USD	+0.0100%	1h	85,509.7	−0.118%	$30.2M	$207.9M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	85,611.3	+0.001%	—	$11.8M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	85,560	−0.059%	$11.1M	$14.3M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	85,566.4	−0.051%	$192K	$3.3M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	85,570.2	−0.047%	$2.4M	$8.9M	100x	as long as short
Derive BTC-PERP	+0.0100%	1h	85,555.3	−0.065%	$30.0M	$50.9M	15x	as long as short
SunX BTC-USDT	+0.0100%	8h	85,563.8	−0.055%	$2.9M	$6.1M	100x	as long as short
SoDEX BTC-USD	+0.0100%	1h	85,567	−0.051%	$60.0M	$336.1M	40x	as long as short
HTX BTC-USDT	+0.0100%	8h	85,565.5	−0.053%	$2.27B	$943.2M	200x	as long as short
Bulk BTC-USD	+0.0100%	1h	85,369.3	−0.282%	$653.8M	$618.7M	40x	as long as short
Extended BTC-USD	+0.0104%	1h	85,539.7	−0.083%	$44.2M	$227.0M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0056%	1h	85,578.1	−0.038%	—	$107.2M	500x	as long as short
Coinbase International BTC-PERP-INTX	+0.0104%	1h	85,617.4	+0.008%	$117.1M	$5.19B	50x	as long as short
Deribit BTC-PERPETUAL	+0.0129%	1h	85,613	+0.003%	$894.6M	$1.54B	50x	as long as short
Injective BTC/USDC PERP	+0.0150%	1h	85,539	−0.083%	$340K	$26.9M	52x	as long as short
Kraken Futures PF_XBTUSD	+0.0170%	1h	85,589	−0.025%	$187.8M	$956.0M	100x	as long as short
RISEx BTC/USDC	+0.0194%	1h	85,589.8	−0.024%	$8.3M	$42.5M	25x	as long as short
Hibachi BTC/USDT-P	+0.0200%	1h	85,502.6	−0.126%	$697K	$7.9M	30x	as long as short
Aftermath Perps BTCUSD	+0.0202%	1h	85,489.1	−0.142%	$78K	$219K	20x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0202% / S −0.0178%	1h	85,573.8	−0.043%	$13.4M	—	200x	as long as short
Kalshi KXBTCPERP	+0.0217%	8h	85,596	−0.017%	$10.5M	$758.7M	6.4x	as long as short
Perpl BTC	+0.0447%	43m	85,567.9	−0.050%	$508K	$18.9M	6.7x	as long as short