Funding arb · Price arb /

BTC

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.009%

Price spread now: OKX against Pacifica−0.046%7-day average −0.022% · you buy dearer than you sell

Net, funding: paid 7d − costs−$23as in the Funding arb table

Net, price: spread back to 7d avg − costs−$21as in the Price arb table

costs, in and out, $10k−$190.188% of the position

Long on Pacifica Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.043%−$4 on $10k

Price spread, last 7 days+0.033%+$3 · spread now −0.046%, 7d avg −0.022%

Together, before fees−0.010%+ Points / potential airdropPacifica: Active · farm board−$1 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: OKX is 0.025% cheaper against Pacifica than usual: you would sell low and buy high, −$2 on $10k if it goes back to its 7-day average of −0.022%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Pacifica BTC	86,498.6	0.0100	pay 0.0013% / 1h	29m 12s	$41.1M	$529.8M	50x
Short	OKX BTC-USDT-SWAP	86,458.6	0.0100	get 0.0100% / 8h	29m 12s	$2.55B	$12.73B	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now −0.046%Rate

Funding earned: $0
Price spread: −0.046% → −0.022%: −$2.46
Slippage, 4 orders: −$0.77
Fee Pacifica: 4 bp × 2 orders: −$8
Fee OKX: 5 bp × 2 orders: −$10
Net: −$21.23
Costs to cover: 0.188%
Break-even: never at this rate

Slippage from Pacifica: live order book, 5 min ago; OKX: 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 OKX live order book, 5 min ago	0.01 bp	5.0 bp −$5	5.0 bp −$50	5.3 bp −$528	6.8 bp −$3,422

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	86,477	−0.025%	$2.2M	$11.8M	40x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	86,455	−0.050%	$9K	$3K	50x	as long as short
Injective BTC/USDC PERP	−0.0035%	1h	86,568	+0.080%	$333K	$26.8M	52x	as long as short
RISEx BTC/USDC	−0.0024%	1h	86,473.2	−0.029%	$8.3M	$42.9M	25x	as long as short
01 Exchange BTCUSD	−0.0016%	1h	86,488.3	−0.012%	$358K	$2.5M	50x	as long as short
Aster BTCUSDT	−0.0001%	8h	86,464.9	−0.039%	$501.8M	$1.15B	200x	as long as short
Perpl BTC	0.0000%	43m	86,478.3	−0.023%	$416K	$23.1M	6.7x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0005% / S −0.0004%	1h	86,484.8	−0.016%	$36.8M	—	200x	as long as short
KuCoin XBTUSDTM	+0.0017%	8h	86,453.7	−0.052%	$850.1M	$715.5M	125x	as long as short
Reya BTCRUSDPERP	+0.0031%	1h	86,456.6	−0.049%	$6.7M	$145.5M	40x	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	+0.0042%	8h	86,453.8	−0.052%	—	$1.59B	—	as long as short
Phemex BTCUSDT	+0.0051%	8h	86,464.1	−0.040%	$150.7M	$478.6M	150x	as long as short
Bitget BTCUSDT	+0.0052%	8h	86,450.1	−0.056%	$2.96B	$5.13B	150x	as long as short
Deribit BTC-PERPETUAL	+0.0056%	1h	86,503.7	+0.006%	$914.7M	$1.48B	50x	as long as short
dYdX BTC-USD	+0.0067%	1h	86,493.3	−0.006%	$16.9M	$21.2M	50x	as long as short
Binance BTCUSDT	+0.0070%	8h	86,453.4	−0.052%	$9.42B	$24.57B	150x	as long as short
MEXC BTC_USDT	+0.0070%	8h	86,454.2	−0.051%	$5.16B	$5.66B	500x	as long as short
Aevo BTC-PERP	+0.0072%	1h	86,454.3	−0.051%	$2.4M	$1.3M	20x	as long as short
Gate BTC_USDT	+0.0083%	8h	86,455.1	−0.050%	$5.87B	$10.76B	200x	as long as short
SoDEX BTC-USD	+0.0086%	1h	86,465	−0.039%	$60.5M	$337.9M	40x	as long as short
Lighter BTC	+0.0096%	1h	86,462.3	−0.042%	$170.3M	$1.01B	50x	as long as short
Lighter RH BTC	+0.0096%	1h	86,470.7	−0.032%	$24.0M	$152.2M	50x	as long as short
Popdex BTCUSDT	+0.0096%	1h	86,462	−0.042%	$8.5M	$52.4M	100x	as long as short
Bybit BTCUSDT	+0.0098%	8h	86,453.4	−0.052%	$5.26B	$9.81B	150x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	86,444	−0.063%	$200K	$7.1M	50x	as long as short
Paradex BTC-USD-PERP	+0.0100%	8h	86,495.3	−0.004%	$4.8M	$8.5M	50x	as long as short
Nado BTC-PERP	+0.0100%	1h	86,459.6	−0.045%	$21.9M	$234.7M	50x	as long as short
Hyperliquid BTC	+0.0100%	1h	86,526	+0.032%	$3.79B	$5.11B	40x	as long as short
Pacifica BTClong	+0.0100%	1h	86,498.6	long leg	$41.1M	$529.8M	50x
OKX BTC-USDT-SWAPshort	+0.0100%	8h	86,458.6	−0.046%	$2.55B	$12.73B	100x
Ondo Perps BTC-USD.P	+0.0100%	1h	86,473	−0.030%	$3.9M	$18.7M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	86,503.5	+0.006%	$7.5M	$95.2M	40x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	86,451.9	−0.054%	$38.2M	$155.7M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	86,474.8	−0.028%	$157.5M	$568.1M	—	as long as short
edgeX BTCUSDC	+0.0100%	4h	86,477.1	−0.025%	$279.3M	$947.6M	100x	as long as short
GRVT BTC_USDT_Perp	+0.0100%	8h	86,485.6	−0.015%	$217.2M	$171.6M	50x	as long as short
ApeX Omni BTCUSDT	+0.0100%	1h	86,488.9	−0.011%	$141.4M	$323.2M	100x	as long as short
StandX BTC-USD	+0.0100%	1h	86,471	−0.032%	$30.7M	$205.4M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	86,507.1	+0.010%	—	$11.9M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	86,459	−0.046%	$11.1M	$13.8M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	86,456.7	−0.048%	$190K	$3.3M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	86,469	−0.034%	$2.4M	$9.0M	100x	as long as short
Bluefin BTC-PERP	+0.0100%	1h	86,494.5	−0.005%	$140K	$663K	40x	as long as short
Derive BTC-PERP	+0.0100%	1h	86,495.8	−0.003%	$30.5M	$62.6M	15x	as long as short
SunX BTC-USDT	+0.0100%	8h	86,450.6	−0.056%	$3.4M	$5.4M	100x	as long as short
HTX BTC-USDT	+0.0100%	8h	86,450	−0.056%	$2.29B	$969.5M	200x	as long as short
Bulk BTC-USD	+0.0100%	1h	86,464.9	−0.039%	$572.1M	$16.9M	40x	as long as short
Extended BTC-USD	+0.0104%	1h	86,448.9	−0.058%	$45.5M	$227.3M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0048%	1h	86,485.2	−0.015%	—	$98.9M	500x	as long as short
Kraken Futures PF_XBTUSD	+0.0110%	1h	86,493.6	−0.006%	$194.0M	$952.3M	100x	as long as short
Coinbase International BTC-PERP-INTX	+0.0112%	1h	86,503.8	+0.006%	$132.3M	$5.66B	50x	as long as short
Aftermath Perps BTCUSD	+0.0143%	1h	86,519.6	+0.024%	$79K	$218K	20x	as long as short
Hibachi BTC/USDT-P	+0.0184%	1h	86,500.8	+0.003%	$728K	$8.1M	30x	as long as short
BloFin BTC-USDT	+0.0190%	8h	86,461	−0.043%	$415.5M	$658.7M	150x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0195% / S −0.0218%	1h	86,474.9	−0.027%	$15.0M	—	200x	as long as short
Kalshi KXBTCPERP	+0.0208%	8h	86,488	−0.012%	$9.7M	$746.3M	6.4x	as long as short