Funding arb · Price arb /

BTC

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0091%/8h= −10.0% APRpaid last 24h −0.014%

Price spread now: KuCoin against Pacifica−0.019%7-day average −0.023% · you buy dearer than you sell

Net, funding: paid 7d − costs−$29as in the Funding arb table

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

costs, in and out, $10k−$200.202% of the position

Long on Pacifica Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.090%−$9 on $10k

Price spread, last 7 days+0.015%+$2 · spread now −0.019%, 7d avg −0.023%

Together, before fees−0.075%+ Points / potential airdropPacifica: Active · farm board−$8 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: −$3 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	86,575.3	0.0100	pay 0.0013% / 1h	53m 00s	$41.2M	$521.5M	50x
Short	KuCoin XBTUSDTM	86,559.2	0.0009	get 0.0009% / 8h	53m 00s	$850.8M	$713.9M	125x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now −0.019%Rate

Funding earned: −$19.11
Price spread: −0.019% → −0.023%: $0.46
Slippage, 4 orders: −$0.23
Fee Pacifica: 4 bp × 2 orders: −$8
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$38.88
Costs to cover: 0.202%
Break-even: never at this rate

Slippage from Pacifica: live order book, 1 min ago; KuCoin: live order book, 6 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 KuCoin live order book, 6 min ago	0.01 bp	6.1 bp −$6	7.8 bp −$78	8.9 bp −$891	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
Phoenix BTC	−0.0118%	1h	86,543	−0.037%	$2.2M	$11.8M	40x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	86,521	−0.063%	$9K	$3K	50x	as long as short
Injective BTC/USDC PERP	−0.0035%	1h	86,601	+0.030%	$333K	$26.8M	52x	as long as short
RISEx BTC/USDC	−0.0024%	1h	86,596.2	+0.024%	$8.3M	$42.9M	25x	as long as short
01 Exchange BTCUSD	−0.0016%	1h	86,599.1	+0.027%	$358K	$2.5M	50x	as long as short
Aster BTCUSDT	−0.0004%	8h	86,572.9	−0.003%	$504.1M	$1.15B	200x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0005% / S −0.0004%	1h	86,585.3	+0.012%	$36.9M	—	200x	as long as short
KuCoin XBTUSDTMshort	+0.0009%	8h	86,559.2	−0.019%	$850.8M	$713.9M	125x
Reya BTCRUSDPERP	+0.0024%	1h	86,573.8	−0.002%	$6.7M	$145.3M	40x	as long as short
Deribit BTC-PERPETUAL	+0.0029%	1h	86,610.2	+0.040%	$917.1M	$1.49B	50x	as long as short

Show all 56 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX BTC-USDT	+0.0040%	8h	86,577.1	+0.002%	—	$1.59B	—	as long as short
Phemex BTCUSDT	+0.0044%	8h	86,574.7	−0.001%	$149.8M	$478.4M	150x	as long as short
dYdX BTC-USD	+0.0046%	1h	86,547.3	−0.032%	$17.0M	$21.1M	50x	as long as short
Bitget BTCUSDT	+0.0051%	8h	86,575.2	0.000%	$2.96B	$5.12B	150x	as long as short
MEXC BTC_USDT	+0.0070%	8h	86,575	0.000%	$5.13B	$5.62B	500x	as long as short
Binance BTCUSDT	+0.0071%	8h	86,574.9	0.000%	$9.44B	$24.53B	150x	as long as short
Aevo BTC-PERP	+0.0072%	1h	86,556.5	−0.022%	$2.4M	$1.3M	20x	as long as short
Gate BTC_USDT	+0.0081%	8h	86,576	+0.001%	$5.88B	$10.70B	200x	as long as short
Aftermath Perps BTCUSD	+0.0091%	1h	86,502.3	−0.084%	$79K	$220K	20x	as long as short
Lighter BTC	+0.0096%	1h	86,586.8	+0.013%	$170.4M	$1.01B	50x	as long as short
Lighter RH BTC	+0.0096%	1h	86,597.9	+0.026%	$24.1M	$151.2M	50x	as long as short
Popdex BTCUSDT	+0.0096%	1h	86,589	+0.016%	$8.5M	$52.5M	100x	as long as short
Bybit BTCUSDT	+0.0099%	8h	86,577.3	+0.002%	$5.26B	$9.81B	150x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	86,565	−0.012%	$199K	$7.0M	50x	as long as short
Paradex BTC-USD-PERP	+0.0100%	8h	86,558.3	−0.020%	$4.8M	$8.5M	50x	as long as short
Nado BTC-PERP	+0.0100%	1h	86,515.6	−0.069%	$21.9M	$234.6M	50x	as long as short
Hyperliquid BTC	+0.0100%	1h	86,651	+0.087%	$3.80B	$5.11B	40x	as long as short
Pacifica BTClong	+0.0100%	1h	86,575.3	long leg	$41.2M	$521.5M	50x
OKX BTC-USDT-SWAP	+0.0100%	8h	86,582.5	+0.008%	$2.54B	$12.74B	100x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	86,580	+0.005%	$3.9M	$18.6M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	86,622.8	+0.055%	$7.6M	$94.8M	40x	as long as short
Bulk BTC-USD	+0.0100%	1h	86,382.9	−0.222%	$571.1M	$18.1M	40x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	86,575.6	0.000%	$37.8M	$154.7M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	86,463.3	−0.129%	$155.7M	$568.3M	—	as long as short
edgeX BTCUSDC	+0.0100%	4h	86,512.3	−0.073%	$279.6M	$945.1M	100x	as long as short
GRVT BTC_USDT_Perp	+0.0100%	8h	86,538.5	−0.043%	$217.2M	$173.5M	50x	as long as short
ApeX Omni BTCUSDT	+0.0100%	1h	86,442	−0.154%	$141.3M	$323.3M	100x	as long as short
StandX BTC-USD	+0.0100%	1h	86,523.5	−0.060%	$30.7M	$204.5M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	86,620.9	+0.053%	—	$11.8M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	86,586	+0.012%	$11.1M	$13.8M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	86,571.7	−0.004%	$190K	$3.3M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	86,565	−0.012%	$2.4M	$8.8M	100x	as long as short
Bluefin BTC-PERP	+0.0100%	1h	86,594.8	+0.023%	$140K	$663K	40x	as long as short
Derive BTC-PERP	+0.0100%	1h	86,597.7	+0.026%	$30.6M	$62.6M	15x	as long as short
SunX BTC-USDT	+0.0100%	8h	86,580.1	+0.006%	$3.4M	$5.4M	100x	as long as short
SoDEX BTC-USD	+0.0100%	1h	86,574	−0.002%	$60.5M	$337.6M	40x	as long as short
HTX BTC-USDT	+0.0100%	8h	86,550	−0.029%	$2.30B	$969.4M	200x	as long as short
Extended BTC-USD	+0.0104%	1h	86,542.6	−0.038%	$45.3M	$226.9M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0048%	1h	86,595.7	+0.024%	—	$99.0M	500x	as long as short
Kraken Futures PF_XBTUSD	+0.0110%	1h	86,607.7	+0.037%	$192.0M	$949.2M	100x	as long as short
Perpl BTC	+0.0112%	43m	86,582.9	+0.009%	$417K	$23.4M	6.7x	as long as short
Coinbase International BTC-PERP-INTX	+0.0112%	1h	86,618.7	+0.050%	$132.8M	$5.69B	50x	as long as short
Hibachi BTC/USDT-P	+0.0168%	1h	86,561.3	−0.016%	$718K	$8.1M	30x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0190% / S −0.0213%	1h	86,582.8	+0.009%	$15.1M	—	200x	as long as short
BloFin BTC-USDT	+0.0191%	8h	86,574.8	−0.001%	$414.3M	$658.4M	150x	as long as short
Kalshi KXBTCPERP	+0.0204%	8h	86,581	+0.007%	$9.8M	$739.4M	6.4x	as long as short