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 +0.001%

Price spread now: Pacifica against Paradex−0.025%7-day average +0.012% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$18as in the Price arb table

costs, in and out, $10k−$140.142% of the position

Long on Paradex Short on Pacifica

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.009%+$1 on $10k

Price spread, last 7 days−0.043%−$4 · spread now −0.025%, 7d avg +0.012%

Together, before fees−0.034%+ Points / potential airdropParadex: Active · Pacifica: Active · farm board−$3 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: Pacifica is 0.037% cheaper against Paradex than usual: you would sell low and buy high, −$4 on $10k if it goes back to its 7-day average of +0.012%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Paradex BTC-USD-PERP	86,483.4	0.0100	pay 0.0100% / 8h	57m 58s	$4.8M	$8.5M	50x
Short	Pacifica BTC	86,461.9	0.0100	get 0.0013% / 1h	57m 58s	$41.1M	$521.5M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Pacifica against Paradex. 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 ParadexbpFee PacificabpOrdersPrice spread, now −0.025%Rate

Funding earned: $0.03
Price spread: −0.025% → +0.012%: −$3.65
Slippage, 4 orders: −$2.23
Fee Paradex: 2 bp × 2 orders: −$4
Fee Pacifica: 4 bp × 2 orders: −$8
Net: −$17.85
Costs to cover: 0.142%
Break-even: 4845.4 days

Slippage from Paradex: live order book, 1 min ago; Pacifica: 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 Paradex live order book, 1 min ago	1.00 bp	3.0 bp −$3	3.0 bp −$30	doesn't fit	doesn't fit
Sell Pacifica live order book, 1 min ago	0.06 bp	4.2 bp −$4	4.7 bp −$47	doesn't fit	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	−0.0159%	1h	86,352	−0.152%	$2.2M	$11.7M	40x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	86,416	−0.078%	$9K	$3K	50x	as long as short
Injective BTC/USDC PERP	−0.0035%	1h	86,424	−0.069%	$332K	$26.8M	52x	as long as short
RISEx BTC/USDC	−0.0024%	1h	86,447.7	−0.041%	$8.4M	$42.8M	25x	as long as short
Aster BTCUSDT	−0.0007%	8h	86,442.4	−0.047%	$503.3M	$1.15B	200x	as long as short
01 Exchange BTCUSD	0.0000%	1h	86,461.2	−0.026%	$357K	$2.5M	50x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0005% / S −0.0004%	1h	86,444.8	−0.045%	$36.8M	—	200x	as long as short
KuCoin XBTUSDTM	+0.0008%	8h	86,413.2	−0.081%	$849.3M	$713.6M	125x	as long as short
Deribit BTC-PERPETUAL	+0.0022%	1h	86,450.9	−0.038%	$916.9M	$1.49B	50x	as long as short
Reya BTCRUSDPERP	+0.0024%	1h	86,439.8	−0.050%	$6.7M	$145.1M	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	+0.0038%	8h	86,431.1	−0.060%	—	$1.59B	—	as long as short
Phemex BTCUSDT	+0.0042%	8h	86,423	−0.070%	$149.7M	$477.6M	150x	as long as short
Bitget BTCUSDT	+0.0050%	8h	86,438.5	−0.052%	$2.95B	$5.12B	150x	as long as short
Aevo BTC-PERP	+0.0064%	1h	86,409.7	−0.085%	$2.4M	$1.3M	20x	as long as short
MEXC BTC_USDT	+0.0067%	8h	86,437.7	−0.053%	$5.12B	$5.61B	500x	as long as short
Binance BTCUSDT	+0.0068%	8h	86,447.6	−0.041%	$9.42B	$24.51B	150x	as long as short
Aftermath Perps BTCUSD	+0.0079%	1h	86,412.1	−0.082%	$79K	$220K	20x	as long as short
Gate BTC_USDT	+0.0082%	8h	86,426	−0.066%	$5.84B	$10.68B	200x	as long as short
Lighter BTC	+0.0096%	1h	86,428.6	−0.063%	$170.3M	$1.01B	50x	as long as short
Lighter RH BTC	+0.0096%	1h	86,438.1	−0.052%	$24.0M	$151.1M	50x	as long as short
Popdex BTCUSDT	+0.0096%	1h	86,450	−0.039%	$8.5M	$52.4M	100x	as long as short
dYdX BTC-USD	+0.0098%	1h	86,400.8	−0.095%	$17.0M	$21.1M	50x	as long as short
Bybit BTCUSDT	+0.0099%	8h	86,446.2	−0.043%	$5.26B	$9.81B	150x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	86,425	−0.068%	$203K	$6.9M	50x	as long as short
Paradex BTC-USD-PERPlong	+0.0100%	8h	86,483.4	long leg	$4.8M	$8.5M	50x
Nado BTC-PERP	+0.0100%	1h	86,420	−0.073%	$21.8M	$234.5M	50x	as long as short
Hyperliquid BTC	+0.0100%	1h	86,502	+0.022%	$3.79B	$5.10B	40x	as long as short
Pacifica BTCshort	+0.0100%	1h	86,461.9	−0.025%	$41.1M	$521.5M	50x
OKX BTC-USDT-SWAP	+0.0100%	8h	86,447.1	−0.042%	$2.54B	$12.71B	100x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	86,446	−0.043%	$3.9M	$18.6M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	86,476	−0.009%	$7.6M	$94.7M	40x	as long as short
Bulk BTC-USD	+0.0100%	1h	86,382.9	−0.116%	$571.1M	$18.1M	40x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	86,424.2	−0.068%	$37.8M	$154.7M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	86,337.9	−0.168%	$155.6M	$568.2M	—	as long as short
edgeX BTCUSDC	+0.0100%	4h	86,361.4	−0.141%	$279.1M	$946.0M	100x	as long as short
GRVT BTC_USDT_Perp	+0.0100%	8h	86,348.3	−0.156%	$216.7M	$173.5M	50x	as long as short
ApeX Omni BTCUSDT	+0.0100%	1h	86,372.8	−0.128%	$141.2M	$323.4M	100x	as long as short
StandX BTC-USD	+0.0100%	1h	86,396.8	−0.100%	$30.7M	$204.3M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	86,484.2	+0.001%	—	$11.7M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	86,448	−0.041%	$11.1M	$13.8M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	86,429	−0.063%	$190K	$3.3M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	86,428.5	−0.063%	$2.4M	$8.7M	100x	as long as short
Bluefin BTC-PERP	+0.0100%	1h	86,453.1	−0.035%	$140K	$663K	40x	as long as short
Derive BTC-PERP	+0.0100%	1h	86,454	−0.034%	$30.6M	$62.2M	15x	as long as short
SunX BTC-USDT	+0.0100%	8h	86,419.1	−0.074%	$3.4M	$5.4M	100x	as long as short
SoDEX BTC-USD	+0.0100%	1h	86,414	−0.080%	$60.4M	$337.5M	40x	as long as short
HTX BTC-USDT	+0.0100%	8h	86,405.6	−0.090%	$2.29B	$969.2M	200x	as long as short
Extended BTC-USD	+0.0104%	1h	86,423.2	−0.070%	$45.4M	$226.7M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0048%	1h	86,460.7	−0.026%	—	$99.0M	500x	as long as short
Kraken Futures PF_XBTUSD	+0.0110%	1h	86,438.8	−0.052%	$192.1M	$947.6M	100x	as long as short
Perpl BTC	+0.0112%	43m	86,453.9	−0.034%	$418K	$23.4M	6.7x	as long as short
Coinbase International BTC-PERP-INTX	+0.0112%	1h	86,452.9	−0.035%	$132.1M	$5.68B	50x	as long as short
Hibachi BTC/USDT-P	+0.0160%	1h	86,437.8	−0.053%	$718K	$8.1M	30x	as long as short
BloFin BTC-USDT	+0.0188%	8h	86,418.8	−0.075%	$414.8M	$654.9M	150x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0189% / S −0.0213%	1h	86,438.9	−0.051%	$15.1M	—	200x	as long as short
Kalshi KXBTCPERP	+0.0201%	8h	86,457	−0.031%	$9.7M	$737.7M	6.4x	as long as short