BTC

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0079%/8h= +8.7% APRnext payment +$0.10 per $10,000 · paid last 24h +0.040%

Price spread now: Pacifica against Reya+0.013%7-day average +0.059% · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Reya Short on Pacifica

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.015%+$2 on $10k

Price spread, last 7 days+0.013%+$1 · spread now +0.013%, 7d avg +0.059%

Together, before fees+0.028%+ Points / potential airdropReya: Active · Pacifica: Active · farm board+$3 on $10k · with fees, hour by hour

Funding pays, the price is against you. Pacifica is 0.046% cheaper against Reya than usual: you would sell low and buy high (spread +0.013% now, against its 7-day average of +0.059%). If the spread goes back, that is −$5 on $10k: about 47 hours of funding at the current rate (+$2 a day). At the pace of the last 3 days (+0.015% in total) that is about 9.3 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Reya BTCRUSDPERP	86,617.9	0.0021	pay 0.0003% / 1h	35m 22s	$6.7M	$144.3M	40x
Short	Pacifica BTC	86,629.1	0.0100	get 0.0013% / 1h	35m 22s	$41.3M	$490.3M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Pacifica against Reya. 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 ReyabpFee PacificabpOrdersPrice spread, now +0.013%Rate

Funding earned: $16.64
Price spread: +0.013% → +0.059%: −$4.62
Slippage, 4 orders: no order book: not counted
Fee Reya: 3 bp × 2 orders: −$6
Fee Pacifica: 4 bp × 2 orders: −$8
Net: −$1.98
Costs to cover: 0.140%
Break-even: 7.8 days

Slippage unknown: Reya: no order-book sample; Pacifica: live order book, 4 min ago. Net counts fees only.

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 Reya no order-book sample	—	—	—	—	—
Sell Pacifica live order book, 4 min ago	0.06 bp	4.1 bp −$4	4.7 bp −$47	doesn't fit	doesn't fit

Reya: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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
Aftermath Perps BTCUSD	−0.0227%	1h	86,609.6	−0.010%	$85K	$188K	20x	as long as short
Perpl BTC	−0.0223%	43m	86,627.7	+0.011%	$428K	$25.0M	6.7x	as long as short
Phoenix BTC	−0.0103%	1h	86,539	−0.091%	$2.2M	$12.4M	40x	as long as short
dYdX BTC-USD	−0.0088%	1h	86,624.9	+0.008%	$17.6M	$20.6M	50x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	86,559	−0.068%	$9K	$3K	50x	as long as short
01 Exchange BTCUSD	0.0000%	1h	86,628.2	+0.012%	$361K	$2.4M	50x	as long as short
Deribit BTC-PERPETUAL	0.0000%	1h	86,644.8	+0.031%	$935.8M	$1.43B	50x	as long as short
KuCoin XBTUSDTM	+0.0001%	8h	86,609.4	−0.010%	$844.2M	$704.5M	125x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0005% / S −0.0005%	1h	86,635	+0.020%	$36.6M	—	200x	as long as short
Aster BTCUSDT	+0.0008%	8h	86,589.9	−0.032%	$505.6M	$1.16B	200x	as long as short

Show all 56 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Reya BTCRUSDPERPlong	+0.0021%	1h	86,617.9	long leg	$6.7M	$144.3M	40x
BingX BTC-USDT	+0.0022%	8h	86,611.2	−0.008%	—	$1.59B	—	as long as short
Bitget BTCUSDT	+0.0029%	8h	86,609.8	−0.009%	$2.95B	$5.07B	150x	as long as short
Phemex BTCUSDT	+0.0029%	8h	86,553.4	−0.074%	$149.5M	$471.0M	150x	as long as short
Aevo BTC-PERP	+0.0048%	1h	86,610.8	−0.008%	$2.4M	$1.3M	20x	as long as short
Injective BTC/USDC PERP	+0.0049%	1h	86,732	+0.132%	$315K	$26.8M	52x	as long as short
MEXC BTC_USDT	+0.0051%	8h	86,621	+0.004%	$5.19B	$5.67B	500x	as long as short
Binance BTCUSDT	+0.0052%	8h	86,612.8	−0.006%	$9.44B	$24.31B	150x	as long as short
RISEx BTC/USDC	+0.0063%	1h	86,616.1	−0.002%	$9.2M	$42.0M	25x	as long as short
OKX BTC-USDT-SWAP	+0.0070%	8h	86,614.8	−0.004%	$2.56B	$12.70B	100x	as long as short
Gate BTC_USDT	+0.0071%	8h	86,612.4	−0.006%	$5.86B	$10.63B	200x	as long as short
Bybit BTCUSDT	+0.0081%	8h	86,610.2	−0.009%	$5.27B	$9.67B	150x	as long as short
Variational Omni BTC	+0.0092%	8h	86,584.3	−0.039%	$160.0M	$567.1M	—	as long as short
Lighter BTC	+0.0096%	1h	86,618.5	+0.001%	$172.1M	$1.01B	50x	as long as short
Lighter RH BTC	+0.0096%	1h	86,624.2	+0.007%	$24.0M	$153.4M	50x	as long as short
Popdex BTCUSDT	+0.0096%	1h	86,607	−0.013%	$8.5M	$52.1M	100x	as long as short
Paradex BTC-USD-PERP	+0.0100%	8h	86,681.3	+0.073%	$4.8M	$8.2M	50x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	86,588	−0.034%	$195K	$6.8M	50x	as long as short
Nado BTC-PERP	+0.0100%	1h	86,595	−0.026%	$21.6M	$235.4M	50x	as long as short
Hyperliquid BTC	+0.0100%	1h	86,689	+0.082%	$3.82B	$5.12B	40x	as long as short
Pacifica BTCshort	+0.0100%	1h	86,629.1	+0.013%	$41.3M	$490.3M	50x
Ondo Perps BTC-USD.P	+0.0100%	1h	86,608	−0.011%	$3.9M	$18.6M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	86,672.2	+0.063%	$7.5M	$93.6M	40x	as long as short
Bulk BTC-USD	+0.0100%	1h	86,606.9	−0.013%	$571.9M	$22.8M	40x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	86,556.6	−0.071%	$38.0M	$148.4M	75x	as long as short
edgeX BTCUSDC	+0.0100%	4h	86,571.5	−0.054%	$279.6M	$949.6M	100x	as long as short
GRVT BTC_USDT_Perp	+0.0100%	8h	86,662	+0.051%	$217.6M	$187.8M	50x	as long as short
ApeX Omni BTCUSDT	+0.0100%	1h	86,686.6	+0.079%	$141.7M	$322.9M	100x	as long as short
StandX BTC-USD	+0.0100%	1h	86,590.4	−0.032%	$30.8M	$205.5M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	86,669.5	+0.060%	—	$11.6M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	86,626	+0.009%	$11.1M	$13.7M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	86,614	−0.004%	$194K	$3.4M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	86,630.2	+0.014%	$2.5M	$8.5M	100x	as long as short
Bluefin BTC-PERP	+0.0100%	1h	86,638.7	+0.024%	$141K	$619K	40x	as long as short
Derive BTC-PERP	+0.0100%	1h	86,618.3	0.000%	$30.0M	$61.6M	15x	as long as short
SunX BTC-USDT	+0.0100%	8h	86,608.9	−0.010%	$3.4M	$5.5M	100x	as long as short
SoDEX BTC-USD	+0.0100%	1h	86,608	−0.011%	$60.5M	$336.5M	40x	as long as short
HTX BTC-USDT	+0.0100%	8h	86,549.1	−0.079%	$2.30B	$957.0M	200x	as long as short
Extended BTC-USD	+0.0104%	1h	86,597.7	−0.023%	$46.4M	$227.9M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0048%	1h	86,624.1	+0.007%	—	$98.3M	500x	as long as short
Kraken Futures PF_XBTUSD	+0.0117%	1h	86,645.2	+0.032%	$189.2M	$930.5M	100x	as long as short
Coinbase International BTC-PERP-INTX	+0.0120%	1h	86,601.8	−0.019%	$131.7M	$5.86B	50x	as long as short
Kalshi KXBTCPERP	+0.0123%	8h	86,613	−0.006%	$8.9M	$723.3M	6.4x	as long as short
BloFin BTC-USDT	+0.0170%	8h	86,675.1	+0.066%	$417.6M	$650.6M	150x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0178% / S −0.0185%	1h	86,629.2	+0.013%	$14.9M	—	200x	as long as short
Hibachi BTC/USDT-P	+0.0224%	1h	86,617.4	−0.001%	$614K	$7.1M	30x	as long as short