Funding arb · Price arb /

BTC

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.003%

Price spread now: Pacifica against Variational Omni+0.080%52s7-day average +0.030% · you sell dearer than you buy

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

Long on Variational Omni Short on Pacifica

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.009%+$1 on $10k

Price spread, last 7 days−0.056%−$6 · spread now +0.080%, 7d avg +0.030%

Together, before fees−0.047%+ Points / potential airdropVariational Omni: Active · Pacifica: Active · farm board−$5 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 0.050% dearer against Variational Omni than usual: you sell high and buy low, +$5 on $10k if it goes back to its 7-day average of +0.030%. The two prices were read 52 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni BTC	86,754.4	0.0100	pay 0.0100% / 8h	2h 16m	$159.6M	$567.2M	—
Short	Pacifica BTC	86,823.4	0.0100	get 0.0013% / 1h	16m 56s	$41.0M	$494.9M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Pacifica against Variational Omni. 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 Variational OmnibpFee PacificabpOrdersPrice spread, now +0.080%Rate

Funding earned: $0
Price spread: +0.080% → +0.030%: $4.97
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Pacifica: 4 bp × 2 orders: −$8
Net: −$3.03
Costs to cover: 0.080%
Break-even: never at this rate

Slippage unknown: Variational Omni: RFQ quote, 2 min ago; Pacifica: live order book, 2 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 Variational Omni RFQ quote, 2 min ago	0.54 bp	doesn't fit	0.5 bp −$5	1.7 bp −$166	doesn't fit
Sell Pacifica live order book, 2 min ago	0.06 bp	4.1 bp −$4	4.1 bp −$41	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
Aftermath Perps BTCUSD	−0.0240%	1h	86,766	+0.013%	$85K	$188K	20x	as long as short
Perpl BTC	−0.0223%	43m	86,808.3	+0.062%	$428K	$24.7M	6.7x	as long as short
Phoenix BTC	−0.0103%	1h	86,739	−0.018%	$2.2M	$12.4M	40x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	86,790	+0.041%	$9K	$3K	50x	as long as short
dYdX BTC-USD	−0.0064%	1h	86,773.8	+0.022%	$17.6M	$20.6M	50x	as long as short
01 Exchange BTCUSD	0.0000%	1h	86,810.9	+0.065%	$363K	$2.4M	50x	as long as short
Deribit BTC-PERPETUAL	0.0000%	1h	86,850.3	+0.111%	$932.2M	$1.46B	50x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0005% / S −0.0004%	1h	86,839.2	+0.098%	$36.9M	—	200x	as long as short
KuCoin XBTUSDTM	+0.0005%	8h	86,809.9	+0.064%	$850.1M	$707.3M	125x	as long as short
Aster BTCUSDT	+0.0008%	8h	86,807.1	+0.061%	$506.9M	$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
Phemex BTCUSDT	+0.0021%	8h	86,821.3	+0.077%	$150.5M	$472.4M	150x	as long as short
Reya BTCRUSDPERP	+0.0021%	1h	86,792.1	+0.043%	$6.8M	$144.4M	40x	as long as short
BingX BTC-USDC	+0.0026%	8h	86,811.1	+0.065%	—	$15.2M	—	as long as short
Bitget BTCUSDT	+0.0036%	8h	86,820.8	+0.077%	$2.96B	$5.08B	150x	as long as short
Injective BTC/USDC PERP	+0.0049%	1h	86,639	−0.133%	$315K	$26.8M	52x	as long as short
MEXC BTC_USDT	+0.0060%	8h	86,819.5	+0.075%	$5.20B	$5.71B	500x	as long as short
Binance BTCUSDT	+0.0060%	8h	86,823	+0.079%	$9.45B	$24.36B	150x	as long as short
RISEx BTC/USDC	+0.0063%	1h	86,801.5	+0.054%	$9.2M	$41.7M	25x	as long as short
Aevo BTC-PERP	+0.0064%	1h	86,818.4	+0.074%	$2.4M	$1.3M	20x	as long as short
Gate BTC_USDT	+0.0082%	8h	86,823.5	+0.080%	$5.86B	$10.68B	200x	as long as short
Bybit BTCUSDT	+0.0085%	8h	86,817.7	+0.073%	$5.29B	$9.71B	150x	as long as short
OKX BTC-USDT-SWAP	+0.0087%	8h	86,834.6	+0.092%	$2.56B	$12.76B	100x	as long as short
Lighter BTC	+0.0096%	1h	86,834.1	+0.092%	$172.1M	$1.02B	50x	as long as short
Lighter RH BTC	+0.0096%	1h	86,840.5	+0.099%	$24.2M	$154.1M	50x	as long as short
Popdex BTCUSDT	+0.0096%	1h	86,795	+0.047%	$8.5M	$52.3M	100x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	86,782	+0.032%	$202K	$6.8M	50x	as long as short
Paradex BTC-USD-PERP	+0.0100%	8h	86,847.9	+0.108%	$4.8M	$8.2M	50x	as long as short
Nado BTC-PERP	+0.0100%	1h	86,776	+0.025%	$21.8M	$235.4M	50x	as long as short
Hyperliquid BTC	+0.0100%	1h	86,896	+0.163%	$3.83B	$5.12B	40x	as long as short
Pacifica BTCshort	+0.0100%	1h	86,823.4	+0.080%	$41.0M	$494.9M	50x
Ondo Perps BTC-USD.P	+0.0100%	1h	86,788	+0.039%	$3.9M	$18.6M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	86,862.4	+0.125%	$7.5M	$94.8M	40x	as long as short
Bulk BTC-USD	+0.0100%	1h	86,792.1	+0.044%	$573.3M	$22.0M	40x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	86,826.2	+0.083%	$38.2M	$148.7M	75x	as long as short
Variational Omni BTClong	+0.0100%	8h	86,754.4	long leg	$159.6M	$567.2M	—
edgeX BTCUSDC	+0.0100%	4h	86,765.9	+0.013%	$280.3M	$952.3M	100x	as long as short
GRVT BTC_USDT_Perp	+0.0100%	8h	86,759.3	+0.006%	$217.9M	$187.7M	50x	as long as short
ApeX Omni BTCUSDT	+0.0100%	1h	86,779.4	+0.029%	$141.7M	$322.6M	100x	as long as short
StandX BTC-USD	+0.0100%	1h	86,754.7	0.000%	$30.8M	$204.2M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	86,843.8	+0.103%	—	$11.6M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	86,796	+0.048%	$11.1M	$13.8M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	86,819.4	+0.075%	$197K	$3.4M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	86,834.2	+0.092%	$2.5M	$8.5M	100x	as long as short
Bluefin BTC-PERP	+0.0100%	1h	86,849.4	+0.110%	$141K	$619K	40x	as long as short
Derive BTC-PERP	+0.0100%	1h	86,823.1	+0.079%	$30.1M	$61.8M	15x	as long as short
SunX BTC-USDT	+0.0100%	8h	86,796.5	+0.049%	$3.4M	$5.5M	100x	as long as short
SoDEX BTC-USD	+0.0100%	1h	86,819	+0.074%	$60.6M	$336.5M	40x	as long as short
HTX BTC-USDT	+0.0100%	8h	86,799.6	+0.052%	$2.31B	$958.9M	200x	as long as short
Extended BTC-USD	+0.0104%	1h	86,808.5	+0.062%	$46.4M	$226.7M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0048%	1h	86,839.6	+0.098%	—	$98.8M	500x	as long as short
Kraken Futures PF_XBTUSD	+0.0116%	1h	86,855.8	+0.117%	$188.2M	$933.9M	100x	as long as short
Coinbase International BTC-PERP-INTX	+0.0120%	1h	86,866	+0.129%	$132.3M	$5.86B	50x	as long as short
Kalshi KXBTCPERP	+0.0151%	8h	86,834	+0.092%	$9.8M	$727.3M	6.4x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0180% / S −0.0209%	1h	86,833.4	+0.091%	$15.0M	—	200x	as long as short
BloFin BTC-USDT	+0.0180%	8h	86,825.5	+0.082%	$415.9M	$656.5M	150x	as long as short
Hibachi BTC/USDT-P	+0.0208%	1h	86,793.7	+0.045%	$645K	$7.6M	30x	as long as short