BTC

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0044%/8h= −4.8% APRnext payment −$0.05 per $10,000 · paid last 24h −0.004%

Price spread now: Kraken Futures against Pacifica−0.021%7-day average −0.015% · you buy dearer than you sell

Net, funding: paid 7d − costs−$21as in the Funding arb table

Net, price: spread back to 7d avg − costs−$20as in the Price arb table

costs, in and out, $10k−$190.190% of the position

Long on Pacifica Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days−0.019%−$2 on $10k

Price spread, last 4 days (all we have)+0.008%+$1 · spread now −0.021%, 7d avg −0.015%

Together, before fees−0.010%+ Points / potential airdropPacifica: Active · farm board−$1 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.015%, 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	85,283	0.0100	pay 0.0013% / 1h	21m 36s	$40.2M	$599.0M	50x
Short	Kraken Futures PF_XBTUSD	85,264.8	0.0056	get 0.0007% / 1h	21m 36s	$187.2M	$954.1M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures 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 Kraken FuturesbpOrdersPrice spread, now −0.021%Rate

Funding earned: −$9.21
Price spread: −0.021% → −0.015%: −$0.61
Slippage, 4 orders: −$0.98
Fee Pacifica: 4 bp × 2 orders: −$8
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$28.8
Costs to cover: 0.190%
Break-even: never at this rate

Slippage from Pacifica: live order book, 3 min ago; Kraken Futures: live order book, 3 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	doesn't fit	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 3 min ago	0.12 bp	5.4 bp −$5	5.8 bp −$58	7.0 bp −$696	9.3 bp −$4,649

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	−0.0112%	43m	85,202.2	−0.095%	$525K	$18.4M	6.7x	as long as short
Phoenix BTC	−0.0111%	1h	85,134	−0.175%	$2.1M	$10.4M	40x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	85,179	−0.122%	$8K	$3K	50x	as long as short
KuCoin XBTUSDTM	−0.0054%	8h	85,235.9	−0.055%	$922.9M	$764.0M	125x	as long as short
BloFin BTC-USDT	−0.0035%	8h	85,137.3	−0.171%	$419.2M	$679.4M	150x	as long as short
01 Exchange BTCUSD	−0.0016%	1h	85,220.7	−0.073%	$354K	$2.4M	50x	as long as short
Aster BTCUSDT	−0.0016%	8h	85,251.1	−0.037%	$512.3M	$1.09B	200x	as long as short
dYdX BTC-USD	+0.0001%	1h	85,252	−0.036%	$16.7M	$21.4M	50x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0004% / S −0.0004%	1h	85,214.5	−0.080%	$36.4M	—	200x	as long as short
Injective BTC/USDC PERP	+0.0023%	1h	85,225	−0.068%	$338K	$26.8M	52x	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	+0.0035%	1h	85,169.9	−0.133%	$24.8M	$222.4M	50x	as long as short
Kraken Futures PF_XBTUSDshort	+0.0056%	1h	85,264.8	−0.021%	$187.2M	$954.1M	100x
BingX BTC-USDC	+0.0067%	8h	85,246	−0.043%	—	$17.4M	—	as long as short
Phemex BTCUSDT	+0.0078%	8h	85,248.8	−0.040%	$147.3M	$505.1M	150x	as long as short
Aevo BTC-PERP	+0.0080%	1h	85,233.3	−0.058%	$2.4M	$6.7M	20x	as long as short
MEXC BTC_USDT	+0.0084%	8h	85,266.7	−0.019%	$5.05B	$5.73B	500x	as long as short
Bitget BTCUSDT	+0.0085%	8h	85,268	−0.018%	$2.95B	$5.15B	150x	as long as short
Binance BTCUSDT	+0.0086%	8h	85,265.3	−0.021%	$9.42B	$24.81B	150x	as long as short
Lighter BTC	+0.0096%	1h	85,260.4	−0.027%	$171.0M	$1.02B	50x	as long as short
Lighter RH BTC	+0.0096%	1h	85,267.8	−0.018%	$23.7M	$148.7M	50x	as long as short
Popdex BTCUSDT	+0.0096%	1h	85,204	−0.093%	$8.3M	$55.7M	100x	as long as short
Coinbase International BTC-PERP-INTX	+0.0096%	1h	85,281.8	−0.001%	$117.0M	$5.39B	50x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	85,248	−0.041%	$238K	$8.6M	50x	as long as short
Paradex BTC-USD-PERP	+0.0100%	8h	85,312.2	+0.034%	$5.8M	$9.6M	50x	as long as short
Hyperliquid BTC	+0.0100%	1h	85,326	+0.050%	$3.75B	$5.06B	40x	as long as short
Pacifica BTClong	+0.0100%	1h	85,283	long leg	$40.2M	$599.0M	50x
Bybit BTCUSDT	+0.0100%	8h	85,254.6	−0.033%	$5.15B	$9.94B	150x	as long as short
OKX BTC-USDT-SWAP	+0.0100%	8h	85,268.8	−0.017%	$2.58B	$12.18B	100x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	85,273	−0.012%	$3.8M	$17.6M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	85,281.3	−0.002%	$4.6M	$99.1M	40x	as long as short
Bulk BTC-USD	+0.0100%	1h	85,163.7	−0.140%	$678.5M	$565.0M	40x	as long as short
Gate BTC_USDT	+0.0100%	8h	85,263.4	−0.023%	$5.50B	$11.00B	200x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	85,249.3	−0.040%	$36.3M	$176.1M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	85,082	−0.236%	$154.2M	$566.7M	—	as long as short
edgeX BTCUSDC	+0.0100%	4h	85,094.5	−0.221%	$278.9M	$945.6M	100x	as long as short
GRVT BTC_USDT_Perp	+0.0100%	8h	85,181.8	−0.119%	$213.9M	$166.7M	50x	as long as short
ApeX Omni BTCUSDT	+0.0100%	1h	85,090.5	−0.226%	$139.1M	$315.1M	100x	as long as short
StandX BTC-USD	+0.0100%	1h	85,105.9	−0.208%	$30.0M	$207.1M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	85,257.2	−0.030%	—	$10.9M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	85,196	−0.102%	$11.0M	$14.4M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	85,205.6	−0.091%	$205K	$3.3M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	85,224.1	−0.069%	$2.5M	$9.3M	100x	as long as short
Bluefin BTC-PERP	+0.0100%	1h	85,274.6	−0.010%	$228K	$760K	40x	as long as short
Derive BTC-PERP	+0.0100%	1h	85,218.1	−0.076%	$29.9M	$48.5M	15x	as long as short
SunX BTC-USDT	+0.0100%	8h	85,101.4	−0.213%	$2.9M	$6.1M	100x	as long as short
SoDEX BTC-USD	+0.0100%	1h	85,247	−0.042%	$59.7M	$336.2M	40x	as long as short
HTX BTC-USDT	+0.0100%	8h	85,225	−0.068%	$2.26B	$941.4M	200x	as long as short
Extended BTC-USD	+0.0104%	1h	85,245	−0.045%	$45.2M	$239.3M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0048%	1h	85,212.5	−0.083%	—	$106.9M	500x	as long as short
Deribit BTC-PERPETUAL	+0.0106%	1h	85,278.7	−0.005%	$866.9M	$1.61B	50x	as long as short
Reya BTCRUSDPERP	+0.0116%	1h	85,199.7	−0.098%	$6.6M	$147.4M	40x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0176% / S −0.0151%	1h	85,207.5	−0.089%	$13.0M	—	200x	as long as short
Kalshi KXBTCPERP	+0.0181%	8h	85,207	−0.089%	$11.6M	$743.5M	6.4x	as long as short
Aftermath Perps BTCUSD	+0.0225%	1h	85,186.2	−0.114%	$78K	$227K	20x	as long as short
Hibachi BTC/USDT-P	+0.0232%	1h	85,144.1	−0.163%	$686K	$8.0M	30x	as long as short
RISEx BTC/USDC	+0.0257%	1h	85,294.4	+0.013%	$8.7M	$43.2M	25x	as long as short