Funding you earn now, next payment 12:00 UTC−0.0381%/8h= −41.7% APRpaid last 24h −0.040%
Price spread now: Bitget against Pacifica+0.070%7-day average — · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 7 days+0.036%+$4 on $10k
+Price spread, last 7 days—no price history on both exchanges yet
=The price spread pays, funding is against you. Bitget is 0.070% dearer against Pacifica than usual: you sell high and buy low (spread +0.070% now, against zero (this spread has no 7-day history yet)): +$7 on $10k if it goes back. Holding the pair costs −$11 a day in funding at the current rate, which eats that in about 15 hours.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.036% in total (about 1.9% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made; yellow are the hours one leg has not settled yet: what the other leg paid, plus the unsettled leg at its current rate.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Pacifica USDJPY | 157.01 | 0.0100 | pay 0.0013% / 1h | 52m 36s | $94K | $24K | 50x |
| Short | Bitget USDJPYUSDT | 157.12 | −0.0281 | pay 0.0281% / 8h | 4h 52m | $573K | $107K | 100x |
Pacifica USDJPY
Bitget USDJPYUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Bitget against Pacifica. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$80.01
- Price spread: +0.070% → 0.000%
- $7.01
- Slippage, 4 orders
- no order book: not counted
- Fee Pacifica: 4 bp × 2 orders
- −$8
- Fee Bitget: 6 bp × 2 orders
- −$12
- Net
- −$93
- Costs to cover
- 0.200%
- Break-even
- never at this rate
Slippage unknown: Pacifica: no order-book sample; Bitget: live order book, 50 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 Pacifica no order-book sample | — | — | — | — | — |
| Sell Bitget live order book, 50 min ago | 1.27 bp | 7.4 bp −$7 | 10.0 bp −$100 | doesn't fit | doesn't fit |
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 exchanges
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 USDJPYUSDTshort | −0.0281% | 8h | 157.12 | +0.070% | $573K | $107K | 100x | |
| Lighter USDJPY | −0.0208% | 1h | 156.92 | −0.057% | $601K | $386K | 50x | as long as short |
| Extended USDJPY-USD | −0.0200% | 1h | 157.11 | +0.067% | $849K | $88K | 25x | as long as short |
| tradeXYZ xyz:JPY | −0.0097% | 1h | 157.04 | +0.019% | $29.7M | $3.3M | 50x | as long as short |
| edgeX USDJPYUSDC | −0.0080% | 4h | 157.00 | −0.008% | $5K | $134K | 50x | as long as short |
| Nado USDJPY-PERP | −0.0015% | 1h | 157.15 | +0.089% | $98K | $1K | 40x | as long as short |
| Bybit USDJPYUSDT | 0.0000% | 8h | 156.85 | −0.102% | $291K | $123K | 100x | as long as short |
| Hotstuff USDJPY-PERP | 0.0000% | 1h | 157.05 | +0.025% | $33K | — | 50x | as long as short |
| Orderly PERP_USDJPY_USDC | 0.0000% | 8h | 157.09 | +0.051% | $24K | $21K | 50x | as long as short |
| SunX USDJPY-USDT | 0.0000% | 1h | 157.00 | −0.006% | — | $1.6M | 10x | as long as short |
Lighter USDJPY
Extended USDJPY-USD
tradeXYZ xyz:JPY
edgeX USDJPYUSDC
Nado USDJPY-PERP
Bybit USDJPYUSDT
Hotstuff USDJPY-PERP
Orderly PERP_USDJPY_USDC
SunX USDJPY-USDTShow all 15 exchanges
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| HTX USDJPY-USDT | 0.0000% | 1h | 156.73 | −0.178% | $9K | $308K | 20x | as long as short |
| Ondo Perps USDJPY-USD.P | +0.0050% | 1h | 156.90 | −0.073% | $35K | $4K | 10x | as long as short |
| Pacifica USDJPYlong | +0.0100% | 1h | 157.01 | long leg | $94K | $24K | 50x | |
| Aevo USDJPY-PERP | +0.0104% | 1h | 156.78 | −0.148% | $25K | $500 | 10x | as long as short |
| Injective USDJPY/USDC PERP | +0.0143% | 1h | 157.08 | +0.045% | $25K | $87K | 101x | as long as short |
HTX USDJPY-USDT
Ondo Perps USDJPY-USD.P
Aevo USDJPY-PERP
Injective USDJPY/USDC PERP