Funding arb · Price arb /

BTC

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.021%

Price spread now: edgeX against Pacifica+0.073%52s7-day average −0.062% · you sell dearer than you buy

Net, funding: paid 7d − costs−$40as 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−$180.175% of the position

Long on Pacifica Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.227%−$23 on $10k

Price spread, last 7 days−0.104%−$10 · spread now +0.073%, 7d avg −0.062%

Together, before fees−0.331%+ Points / potential airdropPacifica: Active · edgeX: Active · farm board−$33 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: edgeX is 0.135% dearer against Pacifica than usual: you sell high and buy low, +$13 on $10k if it goes back to its 7-day average of −0.062%. The two prices were read 52 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	85,555.1	0.0100	pay 0.0013% / 1h	7m 53s	$40.2M	$569.5M	50x
Short	edgeX BTCUSDC	85,617.7	0.0100	get 0.0050% / 4h	2h 07m	$278.5M	$936.8M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX 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 edgeXbpOrdersPrice spread, now +0.073%Rate

Funding earned: $0
Price spread: +0.073% → −0.062%: $13.49
Slippage, 4 orders: −$0.5
Fee Pacifica: 4 bp × 2 orders: −$8
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: −$4.02
Costs to cover: 0.175%
Break-even: never at this rate

Slippage from Pacifica: live order book, 1 min ago; edgeX: 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 Pacifica live order book, 1 min ago	0.06 bp	4.1 bp −$4	doesn't fit	doesn't fit	doesn't fit
Sell edgeX live order book, 1 min ago	0.10 bp	4.6 bp −$5	4.6 bp −$46	4.9 bp −$490	5.8 bp −$2,901

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	85,649	+0.110%	$2.1M	$10.5M	40x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	85,544	−0.013%	$8K	$3K	50x	as long as short
01 Exchange BTCUSD	−0.0064%	1h	85,545	−0.012%	$361K	$2.3M	50x	as long as short
dYdX BTC-USD	+0.0002%	1h	85,556.6	+0.002%	$16.7M	$21.0M	50x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0004% / S −0.0004%	1h	85,581.1	+0.030%	$36.6M	—	200x	as long as short
Injective BTC/USDC PERP	+0.0020%	1h	85,682	+0.148%	$340K	$26.9M	52x	as long as short
Aster BTCUSDT	+0.0024%	8h	85,600	+0.053%	$515.9M	$1.13B	200x	as long as short
KuCoin XBTUSDTM	+0.0026%	8h	85,583	+0.033%	$900.7M	$752.1M	125x	as long as short
Nado BTC-PERP	+0.0036%	1h	85,521.8	−0.039%	$22.7M	$227.0M	50x	as long as short
HTX BTC-USDT	+0.0043%	8h	85,556	+0.001%	$2.27B	$938.2M	200x	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	85,549.2	−0.007%	$8.2M	$42.0M	25x	as long as short
BingX BTC-USDC	+0.0056%	8h	85,622.1	+0.078%	—	$17.0M	—	as long as short
Reya BTCRUSDPERP	+0.0061%	1h	85,549	−0.007%	$6.7M	$146.3M	40x	as long as short
SunX BTC-USDT	+0.0069%	8h	85,547.1	−0.009%	$2.9M	$6.6M	100x	as long as short
Bitget BTCUSDT	+0.0070%	8h	85,625.2	+0.082%	$2.95B	$5.05B	150x	as long as short
Aevo BTC-PERP	+0.0080%	1h	85,572.1	+0.020%	$2.5M	$1.7M	20x	as long as short
MEXC BTC_USDT	+0.0085%	8h	85,620.7	+0.077%	$5.08B	$5.76B	500x	as long as short
Binance BTCUSDT	+0.0085%	8h	85,628.5	+0.086%	$9.33B	$24.21B	150x	as long as short
Lighter BTC	+0.0096%	1h	85,571.9	+0.020%	$170.2M	$995.6M	50x	as long as short
Lighter RH BTC	+0.0096%	1h	85,583.1	+0.033%	$23.6M	$148.0M	50x	as long as short
Popdex BTCUSDT	+0.0096%	1h	85,526	−0.034%	$8.4M	$51.9M	100x	as long as short
Paradex BTC-USD-PERP	+0.0099%	8h	85,561.4	+0.007%	$3.8M	$8.4M	50x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	85,497	−0.068%	$202K	$7.6M	50x	as long as short
Hyperliquid BTC	+0.0100%	1h	85,693.3	+0.162%	$3.76B	$4.91B	40x	as long as short
Pacifica BTClong	+0.0100%	1h	85,555.1	long leg	$40.2M	$569.5M	50x
Bybit BTCUSDT	+0.0100%	8h	85,639.8	+0.099%	$5.32B	$9.75B	150x	as long as short
OKX BTC-USDT-SWAP	+0.0100%	8h	85,634.4	+0.093%	$2.55B	$12.24B	100x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	85,511	−0.051%	$3.9M	$18.2M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	85,491.4	−0.074%	$7.2M	$96.6M	40x	as long as short
Gate BTC_USDT	+0.0100%	8h	85,628.4	+0.086%	$5.59B	$10.59B	200x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	85,582.2	+0.032%	$35.1M	$166.7M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	85,606.4	+0.060%	$156.1M	$555.6M	—	as long as short
edgeX BTCUSDCshort	+0.0100%	4h	85,617.7	+0.073%	$278.5M	$936.8M	100x
GRVT BTC_USDT_Perp	+0.0100%	8h	85,617.3	+0.073%	$214.8M	$163.0M	50x	as long as short
ApeX Omni BTCUSDT	+0.0100%	1h	85,622.2	+0.078%	$140.0M	$318.0M	100x	as long as short
StandX BTC-USD	+0.0100%	1h	85,615.6	+0.071%	$30.3M	$209.5M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	85,598.7	+0.051%	—	$11.8M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	85,542	−0.015%	$11.0M	$14.1M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	85,575.8	+0.024%	$188K	$3.3M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	85,569.4	+0.017%	$2.4M	$9.1M	100x	as long as short
Bluefin BTC-PERP	+0.0100%	1h	85,613.6	+0.068%	$196K	$721K	40x	as long as short
Derive BTC-PERP	+0.0100%	1h	85,576.7	+0.025%	$30.0M	$56.1M	15x	as long as short
SoDEX BTC-USD	+0.0100%	1h	85,575	+0.023%	$59.9M	$336.6M	40x	as long as short
Phemex BTCUSDT	+0.0100%	8h	85,581.2	+0.031%	$151.3M	$480.5M	150x	as long as short
Bulk BTC-USD	+0.0100%	1h	85,673.6	+0.139%	$597.8M	$234.3M	40x	as long as short
Extended BTC-USD	+0.0104%	1h	85,596.5	+0.048%	$43.7M	$227.8M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0056%	1h	85,571.2	+0.019%	—	$102.1M	500x	as long as short
Coinbase International BTC-PERP-INTX	+0.0112%	1h	85,610.1	+0.064%	$130.9M	$5.11B	50x	as long as short
Kraken Futures PF_XBTUSD	+0.0146%	1h	85,601.9	+0.055%	$187.4M	$959.1M	100x	as long as short
Hibachi BTC/USDT-P	+0.0168%	1h	85,604.7	+0.058%	$678K	$7.8M	30x	as long as short
Aftermath Perps BTCUSD	+0.0175%	1h	85,630.4	+0.088%	$78K	$219K	20x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0203% / S −0.0186%	1h	85,574.9	+0.023%	$13.5M	—	200x	as long as short
Kalshi KXBTCPERP	+0.0211%	8h	85,583	+0.033%	$10.3M	$766.3M	6.4x	as long as short
Deribit BTC-PERPETUAL	+0.0244%	1h	85,619.1	+0.075%	$894.9M	$1.54B	50x	as long as short
Perpl BTC	+0.0447%	43m	85,552.3	−0.003%	$511K	$20.1M	6.7x	as long as short