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% APRpaid last 24h 0.000%

Price spread now: Pacifica against SunX+0.121%7-day average +0.042% · you sell dearer than you buy

Net, funding: paid 7d − costs−$20as in the Funding arb table

Net, price: spread back to 7d avg − costs−$16as in the Price arb table

costs, in and out, $10k−$230.235% of the position

Long on SunX Short on Pacifica

What this pair did over the last

the charts below follow

Funding, last 7 days+0.031%+$3 on $10k

Price spread, last 3 days (all we have)−0.058%−$6 · spread now +0.121%, 7d avg +0.042%

Together, before fees−0.027%+ Points / potential airdropPacifica: 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 0.079% dearer against SunX than usual: you sell high and buy low, +$8 on $10k if it goes back to its 7-day average of +0.042%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX BTC-USDT	85,682.9	0.0100	pay 0.0100% / 8h	6h 55m	$3.2M	$5.7M	100x
Short	Pacifica BTC	85,786.3	0.0100	get 0.0013% / 1h	55m 52s	$40.8M	$566.3M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Pacifica against SunX. 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 SunXbpFee PacificabpOrdersPrice spread, now +0.121%Rate

Funding earned: $0
Price spread: +0.121% → +0.042%: $7.91
Slippage, 4 orders: −$7.49
Fee SunX: 4 bp × 2 orders: −$8
Fee Pacifica: 4 bp × 2 orders: −$8
Net: −$15.58
Costs to cover: 0.235%
Break-even: never at this rate

Slippage from SunX: live order book, 13 min ago; Pacifica: 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 SunX live order book, 13 min ago	0.85 bp	8.1 bp −$8	9.1 bp −$91	11.3 bp −$1,132	14.1 bp −$7,071
Sell Pacifica live order book, 3 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	85,869	+0.217%	$2.2M	$10.4M	40x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	85,825	+0.166%	$9K	$3K	50x	as long as short
01 Exchange BTCUSD	−0.0056%	1h	85,725.5	+0.050%	$364K	$2.3M	50x	as long as short
dYdX BTC-USD	0.0000%	1h	85,791.3	+0.127%	$16.8M	$20.5M	50x	as long as short
Perpl BTC	0.0000%	43m	85,735	+0.061%	$526K	$21.3M	6.7x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0004% / S −0.0004%	1h	85,731.4	+0.057%	$36.6M	—	200x	as long as short
Injective BTC/USDC PERP	+0.0020%	1h	85,944	+0.305%	$341K	$26.9M	52x	as long as short
Aster BTCUSDT	+0.0028%	8h	85,690.6	+0.009%	$497.6M	$1.13B	200x	as long as short
HTX BTC-USDT	+0.0041%	8h	85,681.9	−0.001%	$2.27B	$965.2M	200x	as long as short
KuCoin XBTUSDTM	+0.0044%	8h	85,697.6	+0.017%	$811.9M	$722.4M	125x	as long as short

Show all 56 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
RISEx BTC/USDC	+0.0044%	1h	85,733.4	+0.059%	$8.1M	$42.5M	25x	as long as short
Reya BTCRUSDPERP	+0.0051%	1h	85,721.7	+0.045%	$6.7M	$145.9M	40x	as long as short
BingX BTC-USDC	+0.0053%	8h	85,676.8	−0.007%	—	$15.4M	—	as long as short
Bitget BTCUSDT	+0.0065%	8h	85,690.3	+0.009%	$2.94B	$5.10B	150x	as long as short
Deribit BTC-PERPETUAL	+0.0067%	1h	85,733.1	+0.059%	$899.2M	$1.52B	50x	as long as short
MEXC BTC_USDT	+0.0080%	8h	85,690.3	+0.009%	$5.08B	$5.63B	500x	as long as short
Aevo BTC-PERP	+0.0080%	1h	85,716.7	+0.039%	$2.5M	$1.8M	20x	as long as short
SoDEX BTC-USD	+0.0080%	1h	85,700	+0.020%	$60.0M	$338.2M	40x	as long as short
Binance BTCUSDT	+0.0081%	8h	85,684.5	+0.002%	$9.32B	$24.50B	150x	as long as short
BloFin BTC-USDT	+0.0082%	8h	85,810.3	+0.149%	$413.7M	$655.0M	150x	as long as short
Gate BTC_USDT	+0.0088%	8h	85,691.4	+0.010%	$5.67B	$10.29B	200x	as long as short
Lighter BTC	+0.0096%	1h	85,710.8	+0.033%	$169.0M	$970.0M	50x	as long as short
Lighter RH BTC	+0.0096%	1h	85,702.2	+0.023%	$23.2M	$144.6M	50x	as long as short
Popdex BTCUSDT	+0.0096%	1h	85,734	+0.060%	$8.4M	$52.3M	100x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	85,707	+0.028%	$199K	$7.4M	50x	as long as short
Paradex BTC-USD-PERP	+0.0100%	8h	85,811.4	+0.150%	$4.2M	$8.6M	50x	as long as short
Nado BTC-PERP	+0.0100%	1h	85,758.2	+0.088%	$21.9M	$227.7M	50x	as long as short
Hyperliquid BTC	+0.0100%	1h	85,746	+0.074%	$3.75B	$5.03B	40x	as long as short
Pacifica BTCshort	+0.0100%	1h	85,786.3	+0.121%	$40.8M	$566.3M	50x
Bybit BTCUSDT	+0.0100%	8h	85,695.4	+0.015%	$5.22B	$9.75B	150x	as long as short
OKX BTC-USDT-SWAP	+0.0100%	8h	85,694.4	+0.013%	$2.53B	$12.49B	100x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	85,731	+0.056%	$3.9M	$17.8M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	85,721.5	+0.045%	$7.0M	$97.4M	40x	as long as short
Bulk BTC-USD	+0.0100%	1h	85,888.3	+0.240%	$579.3M	$92.3M	40x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	85,669	−0.016%	$35.1M	$162.3M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	85,711.3	+0.033%	$155.5M	$555.5M	—	as long as short
edgeX BTCUSDC	+0.0100%	4h	85,866	+0.214%	$278.0M	$935.4M	100x	as long as short
GRVT BTC_USDT_Perp	+0.0100%	8h	85,899	+0.252%	$215.8M	$160.8M	50x	as long as short
ApeX Omni BTCUSDT	+0.0100%	1h	85,913.8	+0.269%	$140.5M	$320.7M	100x	as long as short
StandX BTC-USD	+0.0100%	1h	85,864.6	+0.212%	$30.4M	$206.0M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	85,816.8	+0.156%	—	$11.8M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	85,729	+0.054%	$11.0M	$14.1M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	85,718.6	+0.042%	$189K	$3.3M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	85,694.7	+0.014%	$2.4M	$9.1M	100x	as long as short
Bluefin BTC-PERP	+0.0100%	1h	85,729.2	+0.054%	$178K	$700K	40x	as long as short
Derive BTC-PERP	+0.0100%	1h	85,712.4	+0.034%	$30.0M	$57.4M	15x	as long as short
SunX BTC-USDTlong	+0.0100%	8h	85,682.9	long leg	$3.2M	$5.7M	100x
Phemex BTCUSDT	+0.0100%	8h	85,689.1	+0.007%	$153.8M	$475.2M	150x	as long as short
Extended BTC-USD	+0.0104%	1h	85,670.5	−0.014%	$45.3M	$225.1M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0056%	1h	85,780.8	+0.114%	—	$101.0M	500x	as long as short
Coinbase International BTC-PERP-INTX	+0.0112%	1h	85,725	+0.049%	$131.4M	$5.25B	50x	as long as short
Hibachi BTC/USDT-P	+0.0120%	1h	85,854.8	+0.201%	$709K	$8.0M	30x	as long as short
Kraken Futures PF_XBTUSD	+0.0146%	1h	85,719.2	+0.042%	$185.8M	$963.9M	100x	as long as short
Aftermath Perps BTCUSD	+0.0163%	1h	85,937.1	+0.297%	$77K	$217K	20x	as long as short
Kalshi KXBTCPERP	+0.0203%	8h	85,770	+0.102%	$9.9M	$767.7M	6.4x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0204% / S −0.0197%	1h	85,725.8	+0.050%	$13.9M	—	200x	as long as short