Funding you earn now, next payment 22:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.002%
Price spread now: Bullet against Pacifica−0.056%7-day average −0.015% · you buy dearer than you sell
Net, funding: paid 7d − costs—under 7 days of funding history
Net, price: spread back to 7d avg − costs−$22as in the Price arb table
costs, in and out, $10k−$180.175% of the position
Funding, last 3 days (all we have)−0.010%−$1 on $10k
+Price spread, last 7 days+0.072%+$7 · spread now −0.056%, 7d avg −0.015%
=Together, before fees+0.062%+ Points / potential airdropPacifica: Active · farm board+$6 on $10k · with fees, hour by hour
Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Bullet is 0.041% cheaper against Pacifica than usual: you would sell low and buy high, −$4 on $10k if it goes back to its 7-day average of −0.015%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Pacifica BTC | 86,729.7 | 0.0100 | pay 0.0013% / 1h | 54m 33s | $41.6M | $484.5M | 50x |
| Short | Bullet BTC-USD | 86,680.9 | 0.0100 | get 0.0013% / 1h | 54m 33s | $202K | $3.4M | 20x |
Pacifica BTC
Bullet BTC-USDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Bullet against Pacifica. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- $0
- Price spread: −0.056% → −0.015%
- −$4.13
- Slippage, 4 orders
- −$1.52
- Fee Pacifica: 4 bp × 2 orders
- −$8
- Fee Bullet: 4 bp × 2 orders
- −$8
- Net
- −$21.65
- Costs to cover
- 0.175%
- Break-even
- never at this rate
Slippage from Pacifica: live order book, 5 min ago; Bullet: 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 Pacifica live order book, 5 min ago | 0.06 bp | 4.1 bp −$4 | 4.2 bp −$42 | doesn't fit | doesn't fit |
| Sell Bullet live order book, 5 min ago | 0.29 bp | 4.6 bp −$5 | 7.6 bp −$76 | 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 | |
|---|---|---|---|---|---|---|---|---|
| Perpl BTC | −0.0335% | 43m | 86,699.6 | −0.035% | $425K | $25.4M | 6.7x | as long as short |
| Aftermath Perps BTCUSD | −0.0185% | 1h | 86,860.1 | +0.150% | $85K | $188K | 20x | as long as short |
| Phoenix BTC | −0.0123% | 1h | 86,795 | +0.075% | $2.2M | $12.4M | 40x | as long as short |
| dYdX BTC-USD | −0.0094% | 1h | 86,758.8 | +0.034% | $18.1M | $19.9M | 50x | as long as short |
| Hotstuff BTC-PERP | −0.0080% | 1h | 86,667 | −0.072% | $9K | $3K | 50x | as long as short |
| KuCoin XBTUSDTM | −0.0001% | 8h | 86,676.7 | −0.061% | $843.6M | $704.8M | 125x | as long as short |
| 01 Exchange BTCUSD | 0.0000% | 1h | 86,688.9 | −0.047% | $362K | $2.5M | 50x | as long as short |
| Kalshi KXBTCPERP | 0.0000% | 8h | 86,799 | +0.080% | $8.9M | $724.7M | 6.4x | as long as short |
| Deribit BTC-PERPETUAL | 0.0000% | 1h | 86,840.4 | +0.128% | $922.7M | $1.38B | 50x | as long as short |
| gTrade (Gains Network) BTC/USD | L +0.0005% / S −0.0005% | 1h | 86,822 | +0.106% | $36.7M | — | 200x | as long as short |
Perpl BTC
Aftermath Perps BTCUSD
Phoenix BTC
dYdX BTC-USD
Hotstuff BTC-PERP
KuCoin XBTUSDTM
01 Exchange BTCUSD
Kalshi KXBTCPERP
Deribit BTC-PERPETUAL
gTrade (Gains Network) BTC/USDShow all 56 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Bluefin BTC-PERP | +0.0008% | 1h | 86,782 | +0.060% | $160K | $575K | 40x | as long as short |
| Phemex BTCUSDT | +0.0016% | 8h | 86,792.7 | +0.073% | $149.5M | $468.6M | 150x | as long as short |
| Aster BTCUSDT | +0.0017% | 8h | 86,690.7 | −0.045% | $506.1M | $1.16B | 200x | as long as short |
| BingX BTC-USDT | +0.0019% | 8h | 86,663.7 | −0.076% | — | $1.60B | — | as long as short |
| Reya BTCRUSDPERP | +0.0021% | 1h | 86,669.3 | −0.070% | $6.8M | $143.8M | 40x | as long as short |
| Bitget BTCUSDT | +0.0025% | 8h | 86,678.6 | −0.059% | $2.95B | $5.08B | 150x | as long as short |
| MEXC BTC_USDT | +0.0046% | 8h | 86,687.9 | −0.048% | $5.20B | $5.61B | 500x | as long as short |
| Binance BTCUSDT | +0.0046% | 8h | 86,663 | −0.077% | $9.45B | $24.34B | 150x | as long as short |
| Aevo BTC-PERP | +0.0048% | 1h | 86,794.6 | +0.075% | $2.4M | $1.3M | 20x | as long as short |
| Injective BTC/USDC PERP | +0.0049% | 1h | 86,984 | +0.293% | $316K | $26.8M | 52x | as long as short |
| OKX BTC-USDT-SWAP | +0.0055% | 8h | 86,660 | −0.080% | $2.58B | $12.72B | 100x | as long as short |
| Gate BTC_USDT | +0.0062% | 8h | 86,660.2 | −0.080% | $5.85B | $10.53B | 200x | as long as short |
| RISEx BTC/USDC | +0.0063% | 1h | 86,682.2 | −0.055% | $9.2M | $41.9M | 25x | as long as short |
| Bybit BTCUSDT | +0.0078% | 8h | 86,662.7 | −0.077% | $5.28B | $9.69B | 150x | as long as short |
| Variational Omni BTC | +0.0088% | 8h | 86,792.9 | +0.073% | $161.2M | $563.4M | — | as long as short |
| SoDEX BTC-USD | +0.0089% | 1h | 86,800 | +0.081% | $60.6M | $336.5M | 40x | as long as short |
| GRVT BTC_USDT_Perp | +0.0094% | 8h | 86,810.6 | +0.093% | $218.0M | $191.1M | 50x | as long as short |
| Lighter BTC | +0.0096% | 1h | 86,731.5 | +0.002% | $172.6M | $1.00B | 50x | as long as short |
| Lighter RH BTC | +0.0096% | 1h | 86,723.4 | −0.007% | $24.1M | $152.5M | 50x | as long as short |
| Popdex BTCUSDT | +0.0096% | 1h | 86,663 | −0.077% | $8.5M | $52.1M | 100x | as long as short |
| Orderly PERP_BTC_USDC | +0.0097% | 8h | 86,814.9 | +0.098% | $2.5M | $8.4M | 100x | as long as short |
| Paradex BTC-USD-PERP | +0.0100% | 8h | 86,724.3 | −0.006% | $4.8M | $8.2M | 50x | as long as short |
| Katana Perps BTC-USD | +0.0100% | 8h | 86,659 | −0.081% | $194K | $6.8M | 50x | as long as short |
| Nado BTC-PERP | +0.0100% | 1h | 86,713.7 | −0.018% | $22.0M | $237.9M | 50x | as long as short |
| Hyperliquid BTC | +0.0100% | 1h | 86,735 | +0.006% | $3.85B | $5.08B | 40x | as long as short |
| Pacifica BTClong | +0.0100% | 1h | 86,729.7 | long leg | $41.6M | $484.5M | 50x | |
| Ondo Perps BTC-USD.P | +0.0100% | 1h | 86,673 | −0.065% | $3.9M | $18.8M | 25x | as long as short |
| Arcus BTC-USD | +0.0100% | 1h | 86,740.6 | +0.013% | $7.5M | $95.4M | 40x | as long as short |
| Bulk BTC-USD | +0.0100% | 1h | 86,919.5 | +0.219% | $573.8M | $23.8M | 40x | as long as short |
| Backpack BTC_USDC_PERP | +0.0100% | 1h | 86,807.6 | +0.090% | $38.4M | $147.9M | 75x | as long as short |
| edgeX BTCUSDC | +0.0100% | 4h | 86,804.8 | +0.087% | $280.4M | $944.7M | 100x | as long as short |
| ApeX Omni BTCUSDT | +0.0100% | 1h | 86,805.9 | +0.088% | $142.0M | $322.7M | 100x | as long as short |
| StandX BTC-USD | +0.0100% | 1h | 86,756.7 | +0.031% | $30.9M | $205.6M | 40x | as long as short |
| Vest BTC-PERP | +0.0100% | 1h | 86,746.4 | +0.019% | — | $11.6M | 50x | as long as short |
| Polymarket Perps BTC-USD | +0.0100% | 1h | 86,668 | −0.071% | $11.1M | $13.7M | 50x | as long as short |
| Bullet BTC-USDshort | +0.0100% | 1h | 86,680.9 | −0.056% | $202K | $3.4M | 20x | |
| Derive BTC-PERP | +0.0100% | 1h | 86,802.3 | +0.084% | $30.1M | $61.5M | 15x | as long as short |
| SunX BTC-USDT | +0.0100% | 8h | 86,802.8 | +0.084% | $3.4M | $5.6M | 100x | as long as short |
| HTX BTC-USDT | +0.0100% | 8h | 86,793.2 | +0.073% | $2.31B | $954.3M | 200x | as long as short |
| Extended BTC-USD | +0.0104% | 1h | 86,639.3 | −0.104% | $46.3M | $228.5M | 50x | as long as short |
| Jupiter Perps WBTC-PERP | L +0.0104% / S +0.0048% | 1h | 86,766.6 | +0.043% | — | $97.8M | 500x | as long as short |
| Kraken Futures PF_XBTUSD | +0.0116% | 1h | 86,839.4 | +0.127% | $193.2M | $926.1M | 100x | as long as short |
| Coinbase International BTC-PERP-INTX | +0.0120% | 1h | 86,847 | +0.135% | $132.3M | $5.94B | 50x | as long as short |
| BloFin BTC-USDT | +0.0166% | 8h | 86,801 | +0.082% | $420.1M | $642.2M | 150x | as long as short |
| GMX BTC/USD [WBTC.b-USDC] | L +0.0181% / S −0.0200% | 1h | 86,817.3 | +0.101% | $15.5M | — | 200x | as long as short |
| Hibachi BTC/USDT-P | +0.0200% | 1h | 86,798.4 | +0.079% | $752K | $7.0M | 30x | as long as short |
Bluefin BTC-PERP
Phemex BTCUSDT
Aster BTCUSDT
BingX BTC-USDT
Reya BTCRUSDPERP
Bitget BTCUSDT
MEXC BTC_USDT
Binance BTCUSDT
Aevo BTC-PERP
Injective BTC/USDC PERP
OKX BTC-USDT-SWAP
Gate BTC_USDT
RISEx BTC/USDC
Bybit BTCUSDT
Variational Omni BTC
SoDEX BTC-USD
GRVT BTC_USDT_Perp
Lighter BTC
Lighter RH BTC
Popdex BTCUSDT
Orderly PERP_BTC_USDC
Paradex BTC-USD-PERP
Katana Perps BTC-USD
Nado BTC-PERP
Hyperliquid BTC
Ondo Perps BTC-USD.P
Arcus BTC-USD
Bulk BTC-USD
Backpack BTC_USDC_PERP
edgeX BTCUSDC
ApeX Omni BTCUSDT
StandX BTC-USD
Vest BTC-PERP
Polymarket Perps BTC-USD
Derive BTC-PERP
SunX BTC-USDT
HTX BTC-USDT
Extended BTC-USD
Jupiter Perps WBTC-PERP
Kraken Futures PF_XBTUSD
Coinbase International BTC-PERP-INTX
BloFin BTC-USDT
GMX BTC/USD [WBTC.b-USDC]
Hibachi BTC/USDT-P