Funding you earn now, next payment 22:00 UTC−0.0075%/8h= −8.3% APRpaid last 24h −0.019%
Price spread now: Phemex against Pacifica−0.071%7-day average −0.034% · 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−$24as in the Price arb table
costs, in and out, $10k−$200.204% of the position
Funding, last 7 days−0.087%−$9 on $10k
+Price spread, last 3 days (all we have)−0.039%−$4 · spread now −0.071%, 7d avg −0.034%
=Together, before fees−0.126%+ Points / potential airdropPacifica: Active · farm board−$13 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Phemex is 0.037% cheaper against Pacifica than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of −0.034%). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Pacifica BTC | 86,653.4 | 0.0100 | pay 0.0013% / 1h | 46m 13s | $41.0M | $485.8M | 50x |
| Short | Phemex BTCUSDT | 86,592.1 | 0.0025 | get 0.0025% / 8h | 2h 46m | $149.4M | $470.7M | 150x |
Pacifica BTC
Phemex BTCUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phemex against Pacifica. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$15.84
- Price spread: −0.071% → −0.034%
- −$3.69
- Slippage, 4 orders
- −$0.36
- Fee Pacifica: 4 bp × 2 orders
- −$8
- Fee Phemex: 6 bp × 2 orders
- −$12
- Net
- −$39.9
- Costs to cover
- 0.204%
- Break-even
- never at this rate
Slippage from Pacifica: live order book, 3 min ago; Phemex: 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 | 4.2 bp −$42 | doesn't fit | doesn't fit |
| Sell Phemex live order book, 3 min ago | 0.01 bp | 6.0 bp −$6 | 6.0 bp −$60 | 6.6 bp −$657 | 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 | |
|---|---|---|---|---|---|---|---|---|
| Perpl BTC | −0.0335% | 43m | 86,626.3 | −0.031% | $432K | $25.1M | 6.7x | as long as short |
| Aftermath Perps BTCUSD | −0.0208% | 1h | 86,662 | +0.010% | $85K | $188K | 20x | as long as short |
| dYdX BTC-USD | −0.0105% | 1h | 86,651.2 | −0.003% | $18.0M | $20.0M | 50x | as long as short |
| Phoenix BTC | −0.0103% | 1h | 86,579 | −0.086% | $2.2M | $12.4M | 40x | as long as short |
| Hotstuff BTC-PERP | −0.0080% | 1h | 86,620 | −0.039% | $9K | $3K | 50x | as long as short |
| KuCoin XBTUSDTM | −0.0002% | 8h | 86,571.4 | −0.095% | $846.2M | $707.8M | 125x | as long as short |
| 01 Exchange BTCUSD | 0.0000% | 1h | 86,643.5 | −0.011% | $361K | $2.5M | 50x | as long as short |
| Deribit BTC-PERPETUAL | 0.0000% | 1h | 86,626.8 | −0.031% | $938.6M | $1.42B | 50x | as long as short |
| gTrade (Gains Network) BTC/USD | L +0.0005% / S −0.0005% | 1h | 86,631 | −0.026% | $36.6M | — | 200x | as long as short |
| Aster BTCUSDT | +0.0012% | 8h | 86,590.2 | −0.073% | $505.5M | $1.16B | 200x | as long as short |
Perpl BTC
Aftermath Perps BTCUSD
dYdX BTC-USD
Phoenix BTC
Hotstuff BTC-PERP
KuCoin XBTUSDTM
01 Exchange BTCUSD
Deribit BTC-PERPETUAL
gTrade (Gains Network) BTC/USD
Aster BTCUSDTShow all 56 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Reya BTCRUSDPERP | +0.0021% | 1h | 86,602.6 | −0.059% | $6.7M | $144.0M | 40x | as long as short |
| BingX BTC-USDT | +0.0021% | 8h | 86,602.1 | −0.059% | — | $1.59B | — | as long as short |
| Phemex BTCUSDTshort | +0.0025% | 8h | 86,592.1 | −0.071% | $149.4M | $470.7M | 150x | |
| Bitget BTCUSDT | +0.0027% | 8h | 86,583.1 | −0.081% | $2.94B | $5.07B | 150x | as long as short |
| MEXC BTC_USDT | +0.0048% | 8h | 86,575.5 | −0.090% | $5.19B | $5.64B | 500x | as long as short |
| Aevo BTC-PERP | +0.0048% | 1h | 86,596.8 | −0.065% | $2.4M | $1.3M | 20x | as long as short |
| Binance BTCUSDT | +0.0049% | 8h | 86,584.1 | −0.080% | $9.43B | $24.29B | 150x | as long as short |
| Injective BTC/USDC PERP | +0.0049% | 1h | 86,732 | +0.091% | $315K | $26.8M | 52x | as long as short |
| OKX BTC-USDT-SWAP | +0.0062% | 8h | 86,565.7 | −0.101% | $2.57B | $12.68B | 100x | as long as short |
| RISEx BTC/USDC | +0.0063% | 1h | 86,639.7 | −0.016% | $9.2M | $42.1M | 25x | as long as short |
| Gate BTC_USDT | +0.0066% | 8h | 86,605.1 | −0.056% | $5.86B | $10.58B | 200x | as long as short |
| Bybit BTCUSDT | +0.0079% | 8h | 86,572.3 | −0.094% | $5.27B | $9.65B | 150x | as long as short |
| Variational Omni BTC | +0.0088% | 8h | 86,626.8 | −0.031% | $159.8M | $564.2M | — | as long as short |
| Lighter BTC | +0.0096% | 1h | 86,602.1 | −0.059% | $171.8M | $1.01B | 50x | as long as short |
| Lighter RH BTC | +0.0096% | 1h | 86,596.6 | −0.066% | $24.0M | $152.9M | 50x | as long as short |
| Popdex BTCUSDT | +0.0096% | 1h | 86,619 | −0.040% | $8.5M | $52.0M | 100x | as long as short |
| GRVT BTC_USDT_Perp | +0.0097% | 8h | 86,590 | −0.073% | $217.4M | $189.0M | 50x | as long as short |
| Orderly PERP_BTC_USDC | +0.0099% | 8h | 86,615.1 | −0.044% | $2.5M | $8.5M | 100x | as long as short |
| Paradex BTC-USD-PERP | +0.0100% | 8h | 86,672.7 | +0.022% | $4.8M | $8.2M | 50x | as long as short |
| Katana Perps BTC-USD | +0.0100% | 8h | 86,608 | −0.052% | $200K | $6.8M | 50x | as long as short |
| Nado BTC-PERP | +0.0100% | 1h | 86,623.5 | −0.035% | $21.7M | $235.9M | 50x | as long as short |
| Hyperliquid BTC | +0.0100% | 1h | 86,680 | +0.031% | $3.83B | $5.10B | 40x | as long as short |
| Pacifica BTClong | +0.0100% | 1h | 86,653.4 | long leg | $41.0M | $485.8M | 50x | |
| Ondo Perps BTC-USD.P | +0.0100% | 1h | 86,621 | −0.037% | $3.9M | $18.6M | 25x | as long as short |
| Arcus BTC-USD | +0.0100% | 1h | 86,691.5 | +0.044% | $7.4M | $94.3M | 40x | as long as short |
| Bulk BTC-USD | +0.0100% | 1h | 86,665 | +0.013% | $572.2M | $23.5M | 40x | as long as short |
| Backpack BTC_USDC_PERP | +0.0100% | 1h | 86,610.2 | −0.050% | $38.2M | $148.1M | 75x | as long as short |
| edgeX BTCUSDC | +0.0100% | 4h | 86,590.7 | −0.072% | $279.7M | $948.0M | 100x | as long as short |
| ApeX Omni BTCUSDT | +0.0100% | 1h | 86,636.4 | −0.020% | $141.8M | $322.7M | 100x | as long as short |
| StandX BTC-USD | +0.0100% | 1h | 86,613.9 | −0.046% | $30.8M | $205.7M | 40x | as long as short |
| Vest BTC-PERP | +0.0100% | 1h | 86,671.6 | +0.021% | — | $11.6M | 50x | as long as short |
| Polymarket Perps BTC-USD | +0.0100% | 1h | 86,612 | −0.048% | $11.0M | $13.7M | 50x | as long as short |
| Bullet BTC-USD | +0.0100% | 1h | 86,607.9 | −0.052% | $198K | $3.4M | 20x | as long as short |
| Bluefin BTC-PERP | +0.0100% | 1h | 86,623.5 | −0.034% | $141K | $619K | 40x | as long as short |
| Derive BTC-PERP | +0.0100% | 1h | 86,602.4 | −0.059% | $30.0M | $61.5M | 15x | as long as short |
| SunX BTC-USDT | +0.0100% | 8h | 86,615.9 | −0.043% | $3.4M | $5.6M | 100x | as long as short |
| SoDEX BTC-USD | +0.0100% | 1h | 86,588 | −0.075% | $60.4M | $336.5M | 40x | as long as short |
| HTX BTC-USDT | +0.0100% | 8h | 86,589 | −0.074% | $2.30B | $955.5M | 200x | as long as short |
| Extended BTC-USD | +0.0104% | 1h | 86,580.8 | −0.084% | $46.6M | $229.1M | 50x | as long as short |
| Jupiter Perps WBTC-PERP | L +0.0104% / S +0.0048% | 1h | 86,646.7 | −0.008% | — | $98.0M | 500x | as long as short |
| Kalshi KXBTCPERP | +0.0113% | 8h | 86,648 | −0.006% | $8.8M | $723.0M | 6.4x | as long as short |
| Kraken Futures PF_XBTUSD | +0.0117% | 1h | 86,618.9 | −0.040% | $191.3M | $927.5M | 100x | as long as short |
| Coinbase International BTC-PERP-INTX | +0.0120% | 1h | 86,635.6 | −0.021% | $131.9M | $5.88B | 50x | as long as short |
| BloFin BTC-USDT | +0.0168% | 8h | 86,618.6 | −0.040% | $418.8M | $642.0M | 150x | as long as short |
| GMX BTC/USD [WBTC.b-USDC] | L +0.0181% / S −0.0198% | 1h | 86,626.3 | −0.031% | $15.4M | — | 200x | as long as short |
| Hibachi BTC/USDT-P | +0.0208% | 1h | 86,644.2 | −0.011% | $600K | $7.2M | 30x | as long as short |
Reya BTCRUSDPERP
BingX BTC-USDT
Bitget BTCUSDT
MEXC BTC_USDT
Aevo BTC-PERP
Binance BTCUSDT
Injective BTC/USDC PERP
OKX BTC-USDT-SWAP
RISEx BTC/USDC
Gate BTC_USDT
Bybit BTCUSDT
Variational Omni BTC
Lighter BTC
Lighter RH BTC
Popdex BTCUSDT
GRVT BTC_USDT_Perp
Orderly PERP_BTC_USDC
Paradex BTC-USD-PERP
Katana Perps BTC-USD
Nado BTC-PERP
Hyperliquid BTC
Ondo Perps BTC-USD.P
Arcus BTC-USD
Bulk BTC-USD
Backpack BTC_USDC_PERP
edgeX BTCUSDC
ApeX Omni BTCUSDT
StandX BTC-USD
Vest BTC-PERP
Polymarket Perps BTC-USD
Bullet BTC-USD
Bluefin BTC-PERP
Derive BTC-PERP
SunX BTC-USDT
SoDEX BTC-USD
HTX BTC-USDT
Extended BTC-USD
Jupiter Perps WBTC-PERP
Kalshi KXBTCPERP
Kraken Futures PF_XBTUSD
Coinbase International BTC-PERP-INTX
BloFin BTC-USDT
GMX BTC/USD [WBTC.b-USDC]
Hibachi BTC/USDT-P