Funding arb · Price arb /

EUR

RWAall EUR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h +0.030%

Price spread now: Pacifica against Bybit−0.001%48s7-day average −0.009% · you buy dearer than you sell

Net, funding: paid 7d − costs−$11as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$570.569% of the position

Long on Bybit Short on Pacifica

What this pair did over the last

the charts below follow

Funding, last 7 days+0.463%+$46 on $10k

Price spread, last 4 days (all we have)−0.026%−$3 · spread now −0.001%, 7d avg −0.009%

Together, before fees+0.437%+ Points / potential airdropPacifica: Active · farm board+$44 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.009%, so right now this pair is about funding alone: +$3 a day on $10k at the current rate. The two prices were read 48 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	Bybit EURUSDUSDT	1.1478	0	get 0.0000% / 8h	3h 51m	$585K	$223K	100x
Short	Pacifica EURUSD	1.1478	0.0100	get 0.0013% / 1h	51m 52s	$190K	$61K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Pacifica against Bybit. 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 BybitbpFee PacificabpOrdersPrice spread, now −0.001%Rate

Funding earned: $21
Price spread: −0.001% → −0.009%: $0.81
Slippage, 4 orders: −$37.89
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Pacifica: 4 bp × 2 orders: −$8
Net: −$35.08
Costs to cover: 0.569%
Break-even: 18.7 days

Slippage from Bybit: live order book, 58 min ago; Pacifica: live order book, 1 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 Bybit live order book, 58 min ago	4.49 bp	19.7 bp −$20	45.9 bp −$459	doesn't fit	doesn't fit
Sell Pacifica live order book, 1 min ago	3.92 bp	14.7 bp −$15	doesn't fit	doesn't fit	doesn't fit

EUR on 18 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
Kraken Futures PF_EURUSD	−0.0179%	1h	1.1473	−0.049%	$3K	—	50x	as long as short
MEXC EUR_USDT	−0.0168%	4h	1.1475	−0.027%	$6.8M	$132K	100x	as long as short
Hibachi EUR/USDT-P	−0.0160%	1h	1.1472	−0.057%	$165K	$8.3M	30x	as long as short
Lighter EURUSD	0.0000%	1h	1.1483	+0.046%	$2.1M	$412K	50x	as long as short
Bybit EURUSDUSDTlong	0.0000%	8h	1.1478	long leg	$585K	$223K	100x
Gate EURUSD_USDT	0.0000%	8h	1.1478	−0.001%	$144K	$5K	100x	as long as short
Bitget EURUSDUSDT	0.0000%	8h	1.1475	−0.027%	$253K	$20K	100x	as long as short
Orderly PERP_EURUSD_USDC	0.0000%	8h	1.1473	−0.044%	$198K	$111K	50x	as long as short
SunX EURUSD-USDT	0.0000%	1h	1.1481	+0.025%	—	$2.4M	10x	as long as short
HTX EURUSD-USDT	0.0000%	1h	1.1475	−0.027%	$12K	$263K	20x	as long as short

Show all 18 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado EURUSD-PERP	+0.0028%	1h	1.1476	−0.019%	$467K	$153K	40x	as long as short
Extended EUR-USD	+0.0032%	1h	1.1472	−0.051%	$6.7M	$1.2M	100x	as long as short
Injective EURUSD/USDC PERP	+0.0033%	1h	1.1466	−0.102%	$9K	$78K	101x	as long as short
Vest EUR-USD-PERP	+0.0046%	1h	1.1505	+0.233%	—	$265K	100x	as long as short
Pacifica EURUSDshort	+0.0100%	1h	1.1478	−0.001%	$190K	$61K	50x
Aevo EURUSD-PERP	+0.0104%	1h	1.1480	+0.020%	$12K	—	10x	as long as short
Hotstuff EURUSD-PERP	+0.0160%	1h	1.1480	+0.017%	$33K	—	50x	as long as short
tradeXYZ xyz:EUR	+0.0202%	1h	1.1480	+0.017%	$23.3M	$1.8M	50x	as long as short