Funding arb · Price arb /

BTC

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.013%

Price spread now: Pacifica against ApeX Omni−0.052%7-day average +0.015% · you buy dearer than you sell

Net, funding: paid 7d − costs−$18as in the Funding arb table

Net, price: spread back to 7d avg − costs−$26as in the Price arb table

costs, in and out, $10k−$200.197% of the position

Long on ApeX Omni Short on Pacifica

What this pair did over the last

the charts below follow

Funding, last 7 days+0.020%+$2 on $10k

Price spread, last 7 days+0.074%+$7 · spread now −0.052%, 7d avg +0.015%

Together, before fees+0.094%+ Points / potential airdropPacifica: Active · farm board+$9 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: Pacifica is 0.067% cheaper against ApeX Omni than usual: you would sell low and buy high, −$7 on $10k if it goes back to its 7-day average of +0.015%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	ApeX Omni BTCUSDT	86,461.9	0.0100	pay 0.0013% / 1h	24m 49s	$141.4M	$323.1M	100x
Short	Pacifica BTC	86,417	0.0100	get 0.0013% / 1h	24m 49s	$41.0M	$529.8M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Pacifica against ApeX Omni. 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 ApeX OmnibpFee PacificabpOrdersPrice spread, now −0.052%Rate

Funding earned: $0
Price spread: −0.052% → +0.015%: −$6.66
Slippage, 4 orders: −$1.75
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee Pacifica: 4 bp × 2 orders: −$8
Net: −$26.4
Costs to cover: 0.197%
Break-even: never at this rate

Slippage from ApeX Omni: live order book, 4 min ago; Pacifica: live order book, 4 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 ApeX Omni live order book, 4 min ago	0.82 bp	5.8 bp −$6	5.8 bp −$58	10.1 bp −$1,010	40.1 bp −$20.1K
Sell Pacifica live order book, 4 min ago	0.06 bp	4.1 bp −$4	4.2 bp −$42	doesn't fit	doesn't fit

BTC on 56 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
Phoenix BTC	−0.0118%	1h	86,430	−0.037%	$2.2M	$11.8M	40x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	86,384	−0.090%	$9K	$3K	50x	as long as short
Injective BTC/USDC PERP	−0.0035%	1h	86,568	+0.123%	$333K	$26.8M	52x	as long as short
RISEx BTC/USDC	−0.0024%	1h	86,392.7	−0.080%	$8.3M	$42.8M	25x	as long as short
01 Exchange BTCUSD	−0.0016%	1h	86,396.8	−0.075%	$359K	$2.5M	50x	as long as short
Aster BTCUSDT	−0.0001%	8h	86,415.2	−0.054%	$501.4M	$1.15B	200x	as long as short
Perpl BTC	0.0000%	43m	86,390.9	−0.082%	$415K	$23.1M	6.7x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0005% / S −0.0004%	1h	86,406.9	−0.064%	$36.8M	—	200x	as long as short
KuCoin XBTUSDTM	+0.0017%	8h	86,410.7	−0.059%	$849.8M	$715.7M	125x	as long as short
Reya BTCRUSDPERP	+0.0032%	1h	86,387.9	−0.086%	$6.7M	$145.5M	40x	as long as short

Show all 56 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Deribit BTC-PERPETUAL	+0.0040%	1h	86,456.9	−0.006%	$914.5M	$1.48B	50x	as long as short
BingX BTC-USDC	+0.0042%	8h	86,408.4	−0.062%	—	$15.4M	—	as long as short
Bitget BTCUSDT	+0.0051%	8h	86,396.2	−0.076%	$2.96B	$5.13B	150x	as long as short
Phemex BTCUSDT	+0.0052%	8h	86,418.4	−0.050%	$150.6M	$478.3M	150x	as long as short
dYdX BTC-USD	+0.0064%	1h	86,399.5	−0.072%	$16.9M	$21.2M	50x	as long as short
MEXC BTC_USDT	+0.0068%	8h	86,416.7	−0.052%	$5.16B	$5.67B	500x	as long as short
Binance BTCUSDT	+0.0069%	8h	86,418.8	−0.050%	$9.42B	$24.58B	150x	as long as short
Aevo BTC-PERP	+0.0072%	1h	86,409.5	−0.061%	$2.4M	$1.3M	20x	as long as short
Gate BTC_USDT	+0.0081%	8h	86,411.2	−0.059%	$5.86B	$10.77B	200x	as long as short
SoDEX BTC-USD	+0.0087%	1h	86,416	−0.053%	$60.3M	$338.0M	40x	as long as short
Lighter BTC	+0.0096%	1h	86,432.5	−0.034%	$170.5M	$1.02B	50x	as long as short
Lighter RH BTC	+0.0096%	1h	86,430.6	−0.036%	$23.9M	$152.4M	50x	as long as short
Popdex BTCUSDT	+0.0096%	1h	86,378	−0.097%	$8.4M	$52.4M	100x	as long as short
Bybit BTCUSDT	+0.0097%	8h	86,408	−0.062%	$5.26B	$9.81B	150x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	86,356	−0.122%	$200K	$7.1M	50x	as long as short
Paradex BTC-USD-PERP	+0.0100%	8h	86,425.2	−0.042%	$4.8M	$8.5M	50x	as long as short
Nado BTC-PERP	+0.0100%	1h	86,391.8	−0.081%	$22.0M	$234.5M	50x	as long as short
Hyperliquid BTC	+0.0100%	1h	86,473.3	+0.013%	$3.79B	$5.10B	40x	as long as short
Pacifica BTCshort	+0.0100%	1h	86,417	−0.052%	$41.0M	$529.8M	50x
OKX BTC-USDT-SWAP	+0.0100%	8h	86,410.1	−0.060%	$2.55B	$12.73B	100x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	86,392	−0.081%	$3.9M	$18.6M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	86,422.4	−0.046%	$7.5M	$95.3M	40x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	86,415.3	−0.054%	$38.1M	$155.8M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	86,405.8	−0.065%	$157.3M	$568.1M	—	as long as short
edgeX BTCUSDC	+0.0100%	4h	86,448.6	−0.015%	$279.2M	$945.2M	100x	as long as short
GRVT BTC_USDT_Perp	+0.0100%	8h	86,418.1	−0.051%	$217.0M	$171.6M	50x	as long as short
ApeX Omni BTCUSDTlong	+0.0100%	1h	86,461.9	long leg	$141.4M	$323.1M	100x
StandX BTC-USD	+0.0100%	1h	86,411	−0.059%	$30.6M	$205.3M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	86,433.5	−0.033%	—	$11.9M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	86,385	−0.089%	$11.1M	$13.9M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	86,386.7	−0.087%	$189K	$3.3M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	86,411.7	−0.058%	$2.4M	$9.3M	100x	as long as short
Bluefin BTC-PERP	+0.0100%	1h	86,422.3	−0.046%	$140K	$664K	40x	as long as short
Derive BTC-PERP	+0.0100%	1h	86,447.4	−0.017%	$30.5M	$62.6M	15x	as long as short
SunX BTC-USDT	+0.0100%	8h	86,378.3	−0.097%	$3.4M	$5.4M	100x	as long as short
HTX BTC-USDT	+0.0100%	8h	86,392.9	−0.080%	$2.29B	$969.5M	200x	as long as short
Bulk BTC-USD	+0.0100%	1h	86,464.9	+0.003%	$572.1M	$16.9M	40x	as long as short
Extended BTC-USD	+0.0104%	1h	86,402.2	−0.069%	$45.5M	$227.4M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0048%	1h	86,408	−0.062%	—	$98.9M	500x	as long as short
Kraken Futures PF_XBTUSD	+0.0110%	1h	86,456.6	−0.006%	$192.2M	$954.6M	100x	as long as short
Coinbase International BTC-PERP-INTX	+0.0112%	1h	86,471.6	+0.011%	$132.4M	$5.65B	50x	as long as short
Aftermath Perps BTCUSD	+0.0150%	1h	86,473.3	+0.013%	$78K	$219K	20x	as long as short
Hibachi BTC/USDT-P	+0.0184%	1h	86,443.5	−0.021%	$727K	$8.0M	30x	as long as short
BloFin BTC-USDT	+0.0189%	8h	86,399.8	−0.072%	$416.8M	$658.1M	150x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0196% / S −0.0219%	1h	86,401.8	−0.070%	$15.0M	—	200x	as long as short
Kalshi KXBTCPERP	+0.0207%	8h	86,423	−0.045%	$9.8M	$748.0M	6.4x	as long as short