Funding arb · Price arb /

EUR

RWAall EUR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h −0.077%

Price spread now: Bybit against Pacifica+0.078%7-day average +0.007% · you sell dearer than you buy

Net, funding: paid 7d − costs−$108as in the Funding arb table

Net, price: spread back to 7d avg − costs−$54as in the Price arb table

costs, in and out, $10k−$610.613% of the position

Long on Pacifica Short on Bybit

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)−0.059%−$6 · spread now +0.078%, 7d avg +0.007%

Together, before fees−0.522%+ Points / potential airdropPacifica: Active · farm board−$52 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Bybit is 0.071% dearer against Pacifica than usual: you sell high and buy low (spread +0.078% now, against its 7-day average of +0.007%): +$7 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 2.4 days. At the pace of the last 7 days (−0.463% in total) that is about 26 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Pacifica EURUSD	1.1467	0.0100	pay 0.0013% / 1h	52m 30s	$190K	$187K	50x
Short	Bybit EURUSDUSDT	1.1476	0	get 0.0000% / 8h	52m 30s	$593K	$535K	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now +0.078%Rate

Funding earned: −$21
Price spread: +0.078% → +0.007%: $7.14
Slippage, 4 orders: −$42.25
Fee Pacifica: 4 bp × 2 orders: −$8
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$75.11
Costs to cover: 0.613%
Break-even: never at this rate

Slippage from Pacifica: live order book, 25 min ago; Bybit: live order book, 18 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, 25 min ago	3.05 bp	13.2 bp −$13	doesn't fit	doesn't fit	doesn't fit
Sell Bybit live order book, 18 min ago	4.27 bp	11.4 bp −$11	42.9 bp −$429	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
MEXC EUR_USDT	−0.0156%	4h	1.1467	0.000%	$6.8M	$150K	100x	as long as short
Kraken Futures PF_EURUSD	−0.0095%	1h	1.1463	−0.031%	$3K	—	50x	as long as short
Nado EURUSD-PERP	−0.0011%	1h	1.1467	0.000%	$466K	$286K	40x	as long as short
Bybit EURUSDUSDTshort	0.0000%	8h	1.1476	+0.078%	$593K	$535K	100x
Gate EURUSD_USDT	0.0000%	8h	1.1478	+0.096%	$142K	$4K	100x	as long as short
Bitget EURUSDUSDT	0.0000%	8h	1.1472	+0.044%	$250K	$70K	100x	as long as short
Orderly PERP_EURUSD_USDC	0.0000%	8h	1.1464	−0.026%	$198K	$111K	50x	as long as short
SunX EURUSD-USDT	0.0000%	1h	1.1472	+0.044%	—	$2.6M	10x	as long as short
HTX EURUSD-USDT	0.0000%	1h	1.1472	+0.044%	$13K	$254K	20x	as long as short
Lighter EURUSD	+0.0008%	1h	1.1476	+0.076%	$2.1M	$525K	50x	as long as short

Show all 18 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Extended EUR-USD	+0.0032%	1h	1.1465	−0.020%	$6.7M	$1.8M	100x	as long as short
Injective EURUSD/USDC PERP	+0.0033%	1h	1.1470	+0.030%	$9K	$78K	101x	as long as short
Vest EUR-USD-PERP	+0.0046%	1h	1.1496	+0.256%	—	$287K	100x	as long as short
Hotstuff EURUSD-PERP	+0.0064%	1h	1.1473	+0.052%	$33K	—	50x	as long as short
Pacifica EURUSDlong	+0.0100%	1h	1.1467	long leg	$190K	$187K	50x
Aevo EURUSD-PERP	+0.0104%	1h	1.1476	+0.074%	$12K	—	10x	as long as short
tradeXYZ xyz:EUR	+0.0160%	1h	1.1472	+0.044%	$23.2M	$2.4M	50x	as long as short
Hibachi EUR/USDT-P	+0.0168%	1h	1.1467	−0.004%	$167K	$8.3M	30x	as long as short