Funding arb · Price arb /

BTC

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.002%

Price spread now: Pacifica against StandX0.000%7-day average +0.027% · you buy dearer than you sell

Net, funding: paid 7d − costs−$21as in the Funding arb table

Net, price: spread back to 7d avg − costs−$24as in the Price arb table

costs, in and out, $10k−$220.217% of the position

Long on StandX Short on Pacifica

What this pair did over the last

the charts below follow

Funding, last 7 days+0.009%+$1 on $10k

Price spread, last 7 days+0.021%+$2 · spread now 0.000%, 7d avg +0.027%

Together, before fees+0.030%+ Points / potential airdropStandX: 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 0.027% cheaper against StandX than usual: you would sell low and buy high, −$3 on $10k if it goes back to its 7-day average of +0.027%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	StandX BTC-USD	85,697	0.0100	pay 0.0013% / 1h	53m 43s	$30.3M	$206.4M	40x
Short	Pacifica BTC	85,697	0.0100	get 0.0013% / 1h	53m 43s	$40.7M	$566.3M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Pacifica against StandX. 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 StandXbpFee PacificabpOrdersPrice spread, now 0.000%Rate

Funding earned: $0
Price spread: 0.000% → +0.027%: −$2.71
Slippage, 4 orders: −$5.74
Fee StandX: 4 bp × 2 orders: −$8
Fee Pacifica: 4 bp × 2 orders: −$8
Net: −$24.45
Costs to cover: 0.217%
Break-even: never at this rate

Slippage from StandX: live order book, 5 min ago; Pacifica: 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 StandX live order book, 5 min ago	1.40 bp	5.4 bp −$5	6.8 bp −$68	8.2 bp −$818	9.5 bp −$4,762
Sell Pacifica live order book, 5 min ago	0.06 bp	6.5 bp −$6	6.6 bp −$66	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	−0.0129%	1h	85,740	+0.050%	$2.2M	$10.5M	40x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	85,624	−0.085%	$8K	$3K	50x	as long as short
01 Exchange BTCUSD	−0.0056%	1h	85,601.1	−0.112%	$363K	$2.3M	50x	as long as short
ApeX Omni BTCUSDT	−0.0038%	1h	85,878.6	+0.212%	$140.4M	$320.6M	100x	as long as short
dYdX BTC-USD	0.0000%	1h	85,703.4	+0.007%	$16.8M	$20.5M	50x	as long as short
Perpl BTC	0.0000%	43m	85,633.6	−0.074%	$516K	$21.3M	6.7x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0004% / S −0.0004%	1h	85,654.9	−0.049%	$36.6M	—	200x	as long as short
Injective BTC/USDC PERP	+0.0020%	1h	85,810	+0.132%	$341K	$26.9M	52x	as long as short
Aster BTCUSDT	+0.0027%	8h	85,700.4	+0.004%	$497.7M	$1.13B	200x	as long as short
HTX BTC-USDT	+0.0033%	8h	85,670.6	−0.031%	$2.27B	$966.2M	200x	as long as short

Show all 56 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BloFin BTC-USDT	+0.0039%	8h	85,659	−0.044%	$412.9M	$654.9M	150x	as long as short
KuCoin XBTUSDTM	+0.0044%	8h	85,688.8	−0.010%	$831.4M	$726.4M	125x	as long as short
RISEx BTC/USDC	+0.0044%	1h	85,618.2	−0.092%	$8.1M	$42.6M	25x	as long as short
SoDEX BTC-USD	+0.0050%	1h	85,679	−0.021%	$60.0M	$338.2M	40x	as long as short
Reya BTCRUSDPERP	+0.0052%	1h	85,624.8	−0.084%	$6.7M	$145.9M	40x	as long as short
BingX BTC-USDC	+0.0052%	8h	85,687	−0.012%	—	$15.4M	—	as long as short
Bitget BTCUSDT	+0.0065%	8h	85,674.6	−0.026%	$2.94B	$5.12B	150x	as long as short
MEXC BTC_USDT	+0.0079%	8h	85,712.1	+0.018%	$5.07B	$5.64B	500x	as long as short
Binance BTCUSDT	+0.0080%	8h	85,715.6	+0.022%	$9.32B	$24.56B	150x	as long as short
Aevo BTC-PERP	+0.0080%	1h	85,666.7	−0.035%	$2.5M	$1.8M	20x	as long as short
Gate BTC_USDT	+0.0086%	8h	85,715	+0.021%	$5.67B	$10.32B	200x	as long as short
Lighter BTC	+0.0096%	1h	85,706.4	+0.011%	$170.5M	$973.5M	50x	as long as short
Lighter RH BTC	+0.0096%	1h	85,727.9	+0.036%	$23.3M	$144.9M	50x	as long as short
Popdex BTCUSDT	+0.0096%	1h	85,605	−0.107%	$8.4M	$52.4M	100x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	85,588	−0.127%	$196K	$7.4M	50x	as long as short
Paradex BTC-USD-PERP	+0.0100%	8h	85,669.9	−0.032%	$3.8M	$8.8M	50x	as long as short
Nado BTC-PERP	+0.0100%	1h	85,650.6	−0.054%	$22.0M	$228.2M	50x	as long as short
Hyperliquid BTC	+0.0100%	1h	85,748	+0.059%	$3.76B	$5.01B	40x	as long as short
Pacifica BTCshort	+0.0100%	1h	85,697	0.000%	$40.7M	$566.3M	50x
Bybit BTCUSDT	+0.0100%	8h	85,699.5	+0.003%	$5.23B	$9.79B	150x	as long as short
OKX BTC-USDT-SWAP	+0.0100%	8h	85,696.9	0.000%	$2.54B	$12.52B	100x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	85,646	−0.060%	$3.9M	$17.8M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	85,607.4	−0.105%	$7.3M	$97.9M	40x	as long as short
Bulk BTC-USD	+0.0100%	1h	85,888.3	+0.223%	$579.3M	$92.3M	40x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	85,706.3	+0.011%	$35.1M	$162.3M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	85,711.3	+0.017%	$155.5M	$555.5M	—	as long as short
edgeX BTCUSDC	+0.0100%	4h	85,859.5	+0.190%	$277.9M	$937.0M	100x	as long as short
GRVT BTC_USDT_Perp	+0.0100%	8h	85,834.8	+0.161%	$215.6M	$161.8M	50x	as long as short
StandX BTC-USDlong	+0.0100%	1h	85,697	long leg	$30.3M	$206.4M	40x
Vest BTC-PERP	+0.0100%	1h	85,696.2	−0.001%	—	$11.8M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	85,627	−0.082%	$11.0M	$14.2M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	85,638	−0.069%	$191K	$3.3M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	85,660.8	−0.042%	$2.4M	$9.1M	100x	as long as short
Bluefin BTC-PERP	+0.0100%	1h	85,681.7	−0.018%	$186K	$709K	40x	as long as short
Derive BTC-PERP	+0.0100%	1h	85,683.9	−0.015%	$29.9M	$57.4M	15x	as long as short
SunX BTC-USDT	+0.0100%	8h	85,638	−0.069%	$3.2M	$5.7M	100x	as long as short
Phemex BTCUSDT	+0.0100%	8h	85,694.9	−0.002%	$153.6M	$475.3M	150x	as long as short
Extended BTC-USD	+0.0104%	1h	85,691.6	−0.006%	$45.3M	$225.2M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0056%	1h	85,671.1	−0.030%	—	$101.3M	500x	as long as short
Coinbase International BTC-PERP-INTX	+0.0112%	1h	85,725	+0.033%	$131.4M	$5.25B	50x	as long as short
Deribit BTC-PERPETUAL	+0.0116%	1h	85,721.7	+0.029%	$898.4M	$1.53B	50x	as long as short
Hibachi BTC/USDT-P	+0.0120%	1h	85,683.2	−0.016%	$706K	$8.0M	30x	as long as short
Kraken Futures PF_XBTUSD	+0.0146%	1h	85,716.1	+0.022%	$185.9M	$964.1M	100x	as long as short
Aftermath Perps BTCUSD	+0.0157%	1h	85,850.3	+0.179%	$77K	$217K	20x	as long as short
Kalshi KXBTCPERP	+0.0203%	8h	85,669	−0.033%	$10.0M	$768.1M	6.4x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0204% / S −0.0197%	1h	85,648.5	−0.057%	$13.8M	—	200x	as long as short