Funding arb · Price arb /

BTC

all BTC markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0036%/8h= −3.9% APRpaid last 24h −0.010%

Price spread now: MEXC against Pacifica−0.057%45s7-day average −0.023% · you buy dearer than you sell

Net, funding: paid 7d − costs−$18as 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−$130.131% of the position

Long on Pacifica Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days−0.045%−$4 on $10k

Price spread, last 7 days+0.051%+$5 · spread now −0.057%, 7d avg −0.023%

Together, before fees+0.007%+ Points / potential airdropPacifica: Active · farm board+$1 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and MEXC is 0.034% cheaper against Pacifica than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of −0.023%). Swap the legs. The two prices were read 45 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	86,400.2	0.0100	pay 0.0013% / 1h	12m 50s	$40.7M	$513.8M	50x
Short	MEXC BTC_USDT	86,350.9	0.0064	get 0.0064% / 8h	1h 12m	$5.14B	$5.70B	500x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now −0.057%Rate

Funding earned: −$7.56
Price spread: −0.057% → −0.023%: −$3.44
Slippage, 4 orders: −$1.06
Fee Pacifica: 4 bp × 2 orders: −$8
Fee MEXC: 2 bp × 2 orders: −$4
Net: −$24.06
Costs to cover: 0.131%
Break-even: never at this rate

Slippage from Pacifica: live order book, 1 min ago; MEXC: 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	4.1 bp −$41	doesn't fit	doesn't fit
Sell MEXC live order book, 1 min ago	0.01 bp	2.0 bp −$2	2.0 bp −$20	2.0 bp −$203	2.1 bp −$1,064

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
Bluefin BTC-PERP	−0.0681%	1h	86,371.4	−0.033%	$140K	$620K	40x	as long as short
Phoenix BTC	−0.0159%	1h	86,402	+0.002%	$2.2M	$11.8M	40x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	86,361	−0.045%	$9K	$3K	50x	as long as short
01 Exchange BTCUSD	−0.0016%	1h	86,365.8	−0.040%	$360K	$2.4M	50x	as long as short
Aster BTCUSDT	−0.0011%	8h	86,346	−0.063%	$503.2M	$1.15B	200x	as long as short
KuCoin XBTUSDTM	+0.0003%	8h	86,347.2	−0.061%	$850.8M	$712.2M	125x	as long as short
dYdX BTC-USD	+0.0004%	1h	86,406.9	+0.008%	$17.0M	$21.1M	50x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0005% / S −0.0004%	1h	86,369.7	−0.035%	$36.8M	—	200x	as long as short
RISEx BTC/USDC	+0.0006%	1h	86,365.4	−0.040%	$8.4M	$42.8M	25x	as long as short
Deribit BTC-PERPETUAL	+0.0012%	1h	86,388.6	−0.013%	$917.8M	$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
Reya BTCRUSDPERP	+0.0023%	1h	86,338.4	−0.072%	$6.7M	$145.0M	40x	as long as short
Injective BTC/USDC PERP	+0.0024%	1h	86,360	−0.047%	$332K	$26.8M	52x	as long as short
Aftermath Perps BTCUSD	+0.0033%	1h	86,441	+0.047%	$81K	$218K	20x	as long as short
BingX BTC-USDT	+0.0036%	8h	86,352.4	−0.055%	—	$1.59B	—	as long as short
Phemex BTCUSDT	+0.0040%	8h	86,357.5	−0.049%	$150.0M	$476.9M	150x	as long as short
Bitget BTCUSDT	+0.0046%	8h	86,357.1	−0.050%	$2.95B	$5.10B	150x	as long as short
Binance BTCUSDT	+0.0064%	8h	86,354.8	−0.053%	$9.42B	$24.44B	150x	as long as short
MEXC BTC_USDTshort	+0.0064%	8h	86,350.9	−0.057%	$5.14B	$5.70B	500x
Aevo BTC-PERP	+0.0064%	1h	86,340.1	−0.070%	$2.4M	$1.3M	20x	as long as short
Gate BTC_USDT	+0.0079%	8h	86,352.1	−0.056%	$5.84B	$10.75B	200x	as long as short
Bybit BTCUSDT	+0.0093%	8h	86,358	−0.049%	$5.25B	$9.78B	150x	as long as short
Lighter BTC	+0.0096%	1h	86,365.4	−0.040%	$170.5M	$1.01B	50x	as long as short
Lighter RH BTC	+0.0096%	1h	86,377.8	−0.026%	$24.1M	$152.5M	50x	as long as short
Popdex BTCUSDT	+0.0096%	1h	86,352	−0.056%	$8.4M	$52.4M	100x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	86,339	−0.071%	$201K	$6.9M	50x	as long as short
Paradex BTC-USD-PERP	+0.0100%	8h	86,399.2	−0.001%	$4.8M	$8.5M	50x	as long as short
Nado BTC-PERP	+0.0100%	1h	86,365.8	−0.040%	$21.7M	$234.5M	50x	as long as short
Hyperliquid BTC	+0.0100%	1h	86,423	+0.026%	$3.80B	$5.10B	40x	as long as short
Pacifica BTClong	+0.0100%	1h	86,400.2	long leg	$40.7M	$513.8M	50x
OKX BTC-USDT-SWAP	+0.0100%	8h	86,357.7	−0.049%	$2.53B	$12.71B	100x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	86,365	−0.041%	$3.9M	$18.6M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	86,419	+0.022%	$7.8M	$94.8M	40x	as long as short
Bulk BTC-USD	+0.0100%	1h	86,498.7	+0.114%	$571.7M	$18.6M	40x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	86,348.3	−0.060%	$37.8M	$155.0M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	86,394.8	−0.006%	$155.5M	$568.5M	—	as long as short
edgeX BTCUSDC	+0.0100%	4h	86,426.9	+0.031%	$279.3M	$949.8M	100x	as long as short
GRVT BTC_USDT_Perp	+0.0100%	8h	86,418.2	+0.021%	$217.1M	$176.0M	50x	as long as short
ApeX Omni BTCUSDT	+0.0100%	1h	86,418.4	+0.021%	$141.3M	$323.7M	100x	as long as short
StandX BTC-USD	+0.0100%	1h	86,380	−0.023%	$30.7M	$203.8M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	86,406.9	+0.008%	—	$11.6M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	86,350	−0.058%	$11.1M	$13.8M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	86,352	−0.056%	$190K	$3.4M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	86,352.5	−0.055%	$2.4M	$8.7M	100x	as long as short
Derive BTC-PERP	+0.0100%	1h	86,360.3	−0.046%	$30.6M	$62.2M	15x	as long as short
SunX BTC-USDT	+0.0100%	8h	86,339.2	−0.071%	$3.4M	$5.4M	100x	as long as short
SoDEX BTC-USD	+0.0100%	1h	86,350	−0.058%	$60.4M	$337.3M	40x	as long as short
HTX BTC-USDT	+0.0100%	8h	86,346.4	−0.062%	$2.29B	$968.6M	200x	as long as short
Extended BTC-USD	+0.0104%	1h	86,335.9	−0.074%	$45.5M	$226.2M	50x	as long as short
Hibachi BTC/USDT-P	+0.0104%	1h	86,421.2	+0.024%	$719K	$8.1M	30x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0048%	1h	86,375.5	−0.029%	—	$98.8M	500x	as long as short
Perpl BTC	+0.0112%	43m	86,388.4	−0.014%	$421K	$23.6M	6.7x	as long as short
Coinbase International BTC-PERP-INTX	+0.0112%	1h	86,398.9	−0.002%	$131.3M	$5.69B	50x	as long as short
Kraken Futures PF_XBTUSD	+0.0121%	1h	86,382.6	−0.020%	$191.1M	$944.0M	100x	as long as short
BloFin BTC-USDT	+0.0184%	8h	86,353.7	−0.054%	$414.2M	$653.5M	150x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0186% / S −0.0213%	1h	86,360.5	−0.046%	$15.2M	—	200x	as long as short
Kalshi KXBTCPERP	+0.0199%	8h	86,393	−0.008%	$9.8M	$734.7M	6.4x	as long as short