Funding arb · Price arb /

USDJPY

RWAall USDJPY markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0162%/8h= −17.7% APRpaid last 24h −0.007%

Price spread now: Pacifica against Bybit+0.110%7-day average — · you sell dearer than you buy

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

Long on Bybit Short on Pacifica

What this pair did over the last

the charts below follow

Funding, last 7 days−0.160%−$16 on $10k

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropPacifica: Active · farm boardneeds both histories

The price spread pays, funding is against you. Pacifica is 0.110% dearer against Bybit than usual: you sell high and buy low (spread +0.110% now, against zero (this spread has no 7-day history yet)): +$11 on $10k if it goes back. Holding the pair costs −$5 a day in funding at the current rate, which eats that in about 2.3 days. At the pace of the last 7 days (−0.160% in total) that is about 4.8 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit USDJPYUSDT	157.27	0	get 0.0000% / 8h	23m 27s	$282K	$142K	100x
Short	Pacifica USDJPY	157.45	−0.0162	pay 0.0020% / 1h	23m 27s	$95K	$63K	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 +0.110%Rate

Funding earned: −$33.99
Price spread: +0.110% → 0.000%: $11.01
Slippage, 4 orders: no order book: not counted
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Pacifica: 4 bp × 2 orders: −$8
Net: −$41.98
Costs to cover: 0.190%
Break-even: never at this rate

Slippage unknown: Bybit: live order book, 62 min ago; Pacifica: no order-book sample. 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 Bybit live order book, 62 min ago	0.83 bp	11.6 bp −$12	31.3 bp −$313	41.9 bp −$4,189	doesn't fit
Sell Pacifica no order-book sample	—	—	—	—	—

Pacifica: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

USDJPY on 15 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
Bitget USDJPYUSDT	−0.0393%	8h	157.43	+0.100%	$574K	$134K	100x	as long as short
tradeXYZ xyz:JPY	−0.0357%	1h	157.59	+0.202%	$29.4M	$3.0M	50x	as long as short
Hotstuff USDJPY-PERP	−0.0176%	1h	157.61	+0.214%	$33K	—	50x	as long as short
Pacifica USDJPYshort	−0.0162%	1h	157.45	+0.110%	$95K	$63K	50x
Ondo Perps USDJPY-USD.P	−0.0144%	1h	157.56	+0.182%	$35K	$4K	10x	as long as short
Extended USDJPY-USD	−0.0104%	1h	157.75	+0.301%	$842K	$82K	25x	as long as short
Lighter USDJPY	−0.0064%	1h	157.56	+0.184%	$552K	$358K	50x	as long as short
edgeX USDJPYUSDC	−0.0052%	4h	157.58	+0.198%	$5K	$134K	50x	as long as short
Nado USDJPY-PERP	−0.0018%	1h	157.79	+0.327%	$98K	$7K	40x	as long as short
Bybit USDJPYUSDTlong	0.0000%	8h	157.27	long leg	$282K	$142K	100x

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Orderly PERP_USDJPY_USDC	0.0000%	8h	157.73	+0.291%	$25K	$52K	50x	as long as short
SunX USDJPY-USDT	0.0000%	1h	157.58	+0.195%	—	$2.4M	10x	as long as short
HTX USDJPY-USDT	0.0000%	1h	157.63	+0.227%	$9K	$316K	20x	as long as short
Aevo USDJPY-PERP	+0.0104%	1h	157.50	+0.143%	$25K	$500	10x	as long as short
Injective USDJPY/USDC PERP	+0.0148%	1h	157.79	+0.329%	$44K	$72K	101x	as long as short