Funding arb · Price arb /

ETH

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Polymarket Perps against Pacifica+0.040%7-day average +0.005% · you sell dearer than you buy

Net, funding: paid 7d − costs−$12as in the Funding arb table

Net, price: spread back to 7d avg − costs−$14as in the Price arb table

costs, in and out, $10k−$180.177% of the position

Long on Pacifica Short on Polymarket Perps

What this pair did over the last

the charts below follow

Funding, last 7 days+0.053%+$5 on $10k

Price spread, last 7 days−0.040%−$4 · spread now +0.040%, 7d avg +0.005%

Together, before fees+0.013%+ Points / potential airdropPacifica: Active · farm board+$1 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: Polymarket Perps is 0.036% dearer against Pacifica than usual: you sell high and buy low, +$4 on $10k if it goes back to its 7-day average of +0.005%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Pacifica ETH	2,747.6	0.0100	pay 0.0013% / 1h	22m 27s	$31.7M	$334.4M	50x
Short	Polymarket Perps ETH-USD	2,748.7	0.0100	get 0.0013% / 1h	22m 27s	$11.0M	$8.8M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket Perps against Pacifica. 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 PacificabpFee Polymarket PerpsbpOrdersPrice spread, now +0.040%Rate

Funding earned: $0
Price spread: +0.040% → +0.005%: $3.55
Slippage, 4 orders: −$1.7
Fee Pacifica: 4 bp × 2 orders: −$8
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: −$14.15
Costs to cover: 0.177%
Break-even: never at this rate

Slippage from Pacifica: live order book, 2 min ago; Polymarket Perps: live order book, 2 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 Pacifica live order book, 2 min ago	0.18 bp	4.2 bp −$4	4.5 bp −$45	doesn't fit	doesn't fit
Sell Polymarket Perps live order book, 2 min ago	0.18 bp	4.5 bp −$4	4.5 bp −$45	11.9 bp −$1,192	doesn't fit

ETH on 55 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
Hotstuff ETH-PERP	−0.0080%	1h	2,744.9	−0.098%	$5K	$1K	50x	as long as short
Injective ETH/USDC PERP	−0.0044%	1h	2,742.7	−0.178%	$118K	$22.5M	52x	as long as short
GMX ETH/USD [ETH-USDC]	L −0.0009% / S +0.0043%	1h	2,745.1	−0.091%	$12.1M	—	200x	as long as short
dYdX ETH-USD	0.0000%	1h	2,746	−0.060%	$10.8M	$41.7M	50x	as long as short
Perpl ETH	0.0000%	43m	2,747.1	−0.017%	$305K	$5.6M	8.3x	as long as short
gTrade (Gains Network) ETH/USD	L +0.0007% / S −0.0007%	1h	2,748	+0.016%	$25.0M	—	200x	as long as short
Phoenix ETH	+0.0017%	1h	2,742.3	−0.193%	$847K	$2.9M	25x	as long as short
01 Exchange ETHUSD	+0.0032%	1h	2,747.9	+0.011%	$182K	$863K	50x	as long as short
ApeX Omni ETHUSDT	+0.0034%	1h	2,742.2	−0.196%	$8.8M	$30.8M	100x	as long as short
BingX ETH-USDT	+0.0051%	8h	2,747.5	−0.003%	—	$1.15B	—	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX ETH-USDT-SWAP	+0.0066%	8h	2,747.8	+0.006%	$1.71B	$10.56B	100x	as long as short
KuCoin ETHUSDTM	+0.0069%	8h	2,748	+0.013%	$382.6M	$577.8M	100x	as long as short
Bullet ETH-USD	+0.0075%	1h	2,747.5	−0.004%	$183K	$1.7M	20x	as long as short
RISEx ETH/USDC	+0.0077%	1h	2,747.9	+0.012%	$5.6M	$11.4M	25x	as long as short
Aster ETHUSDT	+0.0087%	8h	2,747.4	−0.009%	$253.5M	$841.2M	200x	as long as short
MEXC ETH_USDT	+0.0094%	8h	2,747	−0.021%	$1.56B	$2.55B	500x	as long as short
Binance ETHUSDT	+0.0095%	8h	2,747.5	−0.003%	$6.39B	$15.66B	150x	as long as short
Lighter ETH	+0.0096%	1h	2,746.3	−0.048%	$112.8M	$434.5M	50x	as long as short
Lighter RH ETH	+0.0096%	1h	2,747.7	+0.002%	$24.7M	$104.0M	50x	as long as short
Jupiter Perps ETH-PERP	L +0.0096% / S +0.0056%	1h	2,745.4	−0.082%	—	$30.5M	500x	as long as short
Aevo ETH-PERP	+0.0096%	1h	2,743.2	−0.161%	$4.9M	$154K	20x	as long as short
Coinbase International ETH-PERP-INTX	+0.0096%	1h	2,746.7	−0.034%	$58.4M	$4.25B	50x	as long as short
Paradex ETH-USD-PERP	+0.0099%	8h	2,751.3	+0.133%	$16.0M	$7.9M	50x	as long as short
Katana Perps ETH-USD	+0.0100%	8h	2,747.2	−0.015%	$471K	$3.0M	50x	as long as short
Nado ETH-PERP	+0.0100%	1h	2,747.5	−0.004%	$13.9M	$105.1M	50x	as long as short
Hyperliquid ETH	+0.0100%	1h	2,750.1	+0.091%	$3.12B	$2.06B	25x	as long as short
Pacifica ETHlong	+0.0100%	1h	2,747.6	long leg	$31.7M	$334.4M	50x
Bybit ETHUSDT	+0.0100%	8h	2,747.7	+0.004%	$2.46B	$4.16B	150x	as long as short
Ondo Perps ETH-USD.P	+0.0100%	1h	2,745	−0.095%	$2.7M	$16.8M	25x	as long as short
Arcus ETH-USD	+0.0100%	1h	2,747.8	+0.007%	$2.7M	$16.1M	25x	as long as short
Bulk ETH-USD	+0.0100%	1h	2,742.3	−0.193%	$165.2M	$299.1M	25x	as long as short
Gate ETH_USDT	+0.0100%	8h	2,747.8	+0.008%	$3.39B	$8.75B	200x	as long as short
Bitget ETHUSDT	+0.0100%	8h	2,748	+0.013%	$2.09B	$2.72B	150x	as long as short
Backpack ETH_USDC_PERP	+0.0100%	1h	2,744.3	−0.120%	$15.0M	$39.8M	50x	as long as short
Variational Omni ETH	+0.0100%	8h	2,740	−0.277%	$132.7M	$328.0M	—	as long as short
edgeX ETHUSDC	+0.0100%	4h	2,741	−0.240%	$182.2M	$672.4M	100x	as long as short
GRVT ETH_USDT_Perp	+0.0100%	8h	2,738.9	−0.315%	$159.3M	$84.0M	50x	as long as short
StandX ETH-USD	+0.0100%	1h	2,745.1	−0.091%	$21.2M	$67.7M	40x	as long as short
Vest ETH-PERP	+0.0100%	1h	2,747.8	+0.009%	—	$815K	50x	as long as short
Polymarket Perps ETH-USDshort	+0.0100%	1h	2,748.7	+0.040%	$11.0M	$8.8M	50x
Derive ETH-PERP	+0.0100%	1h	2,746.5	−0.038%	$41.5M	$29.7M	15x	as long as short
SunX ETH-USDT	+0.0100%	8h	2,744	−0.131%	$963K	$11.5M	100x	as long as short
SoDEX ETH-USD	+0.0100%	1h	2,744.9	−0.098%	$54.7M	$187.5M	40x	as long as short
HTX ETH-USDT	+0.0100%	8h	2,744.8	−0.102%	$1.06B	$1.17B	200x	as long as short
Phemex ETHUSDT	+0.0100%	8h	2,744.9	−0.097%	$266.9M	$64.8M	150x	as long as short
Extended ETH-USD	+0.0104%	1h	2,746.7	−0.034%	$30.6M	$71.9M	50x	as long as short
Aftermath Perps ETHUSD	+0.0126%	1h	2,744.1	−0.127%	$30K	$20K	20x	as long as short
Kalshi KXETHPERP	+0.0160%	8h	2,745.1	−0.091%	$7.5M	$669.2M	4.9x	as long as short
Orderly PERP_ETH_USDC	+0.0192%	8h	2,747.4	−0.006%	$32.3M	$11.4M	100x	as long as short
Kraken Futures PF_ETHUSD	+0.0221%	1h	2,746	−0.057%	$86.7M	$310.1M	100x	as long as short
Reya ETHRUSDPERP	+0.0228%	1h	2,747.2	−0.013%	$7.3M	$1.1M	25x	as long as short
Deribit ETH-PERPETUAL	+0.0238%	1h	2,746.7	−0.035%	$259.8M	$196.9M	50x	as long as short
Hibachi ETH/USDT-P	+0.0248%	1h	2,746	−0.058%	$252K	$1.4M	20x	as long as short
Bluefin ETH-PERP	+0.0299%	1h	2,744.8	−0.100%	$21K	$20K	25x	as long as short
BloFin ETH-USDT	+0.0346%	8h	2,744.6	−0.108%	$285.8M	$181.2M	150x	as long as short