Funding arb · Price arb /

BTC

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.012%

Price spread now: Pacifica against Arcus+0.051%7-day average −0.008% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

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

costs, in and out, $10k−$130.133% of the position

Long on Arcus Short on Pacifica

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.012%+$1 on $10k

Price spread, last 7 days−0.066%−$7 · spread now +0.051%, 7d avg −0.008%

Together, before fees−0.054%+ Points / potential airdropPacifica: Active · farm board−$5 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 0.059% dearer against Arcus than usual: you sell high and buy low, +$6 on $10k if it goes back to its 7-day average of −0.008%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Arcus BTC-USD	85,578.9	0.0100	pay 0.0013% / 1h	49m 17s	$4.4M	$98.4M	40x
Short	Pacifica BTC	85,622.3	0.0100	get 0.0013% / 1h	49m 17s	$40.6M	$584.8M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Pacifica against Arcus. 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 ArcusbpFee PacificabpOrdersPrice spread, now +0.051%Rate

Funding earned: $0
Price spread: +0.051% → −0.008%: $5.89
Slippage, 4 orders: −$0.76
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Fee Pacifica: 4 bp × 2 orders: −$8
Net: −$7.37
Costs to cover: 0.133%
Break-even: never at this rate

Slippage from Arcus: live order book, 5 min ago; Pacifica: live order book, 5 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 Arcus live order book, 5 min ago	0.01 bp	2.3 bp −$2	3.1 bp −$31	5.1 bp −$511	doesn't fit
Sell Pacifica live order book, 5 min ago	0.06 bp	4.1 bp −$4	4.9 bp −$49	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	−0.0140%	1h	85,589	+0.012%	$2.1M	$10.4M	40x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	85,625	+0.054%	$8K	$3K	50x	as long as short
KuCoin XBTUSDTM	−0.0038%	8h	85,588.6	+0.011%	$917.2M	$756.1M	125x	as long as short
BloFin BTC-USDT	−0.0020%	8h	85,603.2	+0.028%	$418.0M	$675.3M	150x	as long as short
01 Exchange BTCUSD	−0.0016%	1h	85,593.3	+0.017%	$366K	$2.3M	50x	as long as short
Nado BTC-PERP	−0.0001%	1h	85,588.4	+0.011%	$24.8M	$222.6M	50x	as long as short
dYdX BTC-USD	0.0000%	1h	85,625.7	+0.055%	$16.8M	$21.2M	50x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0004% / S −0.0004%	1h	85,600.3	+0.025%	$36.6M	—	200x	as long as short
Aster BTCUSDT	+0.0011%	8h	85,578.7	0.000%	$515.4M	$1.10B	200x	as long as short
Deribit BTC-PERPETUAL	+0.0026%	1h	85,637.6	+0.069%	$884.3M	$1.59B	50x	as long as short

Show all 56 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Injective BTC/USDC PERP	+0.0044%	1h	85,690	+0.130%	$340K	$26.9M	52x	as long as short
BingX BTC-USDC	+0.0064%	8h	85,570.4	−0.010%	—	$17.2M	—	as long as short
Phemex BTCUSDT	+0.0070%	8h	85,597.2	+0.021%	$148.7M	$490.7M	150x	as long as short
SoDEX BTC-USD	+0.0077%	1h	85,601	+0.026%	$60.0M	$336.0M	40x	as long as short
Bitget BTCUSDT	+0.0081%	8h	85,597.3	+0.022%	$2.96B	$5.11B	150x	as long as short
Reya BTCRUSDPERP	+0.0092%	1h	85,578.4	−0.001%	$6.6M	$146.9M	40x	as long as short
Lighter BTC	+0.0096%	1h	85,609.7	+0.036%	$172.1M	$1.01B	50x	as long as short
Lighter RH BTC	+0.0096%	1h	85,617.9	+0.046%	$23.9M	$147.9M	50x	as long as short
Popdex BTCUSDT	+0.0096%	1h	85,589	+0.012%	$8.7M	$54.3M	100x	as long as short
Aevo BTC-PERP	+0.0096%	1h	85,586.8	+0.009%	$2.5M	$1.7M	20x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	85,560	−0.022%	$201K	$8.2M	50x	as long as short
Paradex BTC-USD-PERP	+0.0100%	8h	85,660	+0.095%	$5.6M	$9.3M	50x	as long as short
Hyperliquid BTC	+0.0100%	1h	85,660	+0.095%	$3.79B	$5.01B	40x	as long as short
Pacifica BTCshort	+0.0100%	1h	85,622.3	+0.051%	$40.6M	$584.8M	50x
Binance BTCUSDT	+0.0100%	8h	85,603.1	+0.028%	$9.42B	$24.31B	150x	as long as short
Bybit BTCUSDT	+0.0100%	8h	85,600	+0.025%	$5.19B	$9.84B	150x	as long as short
OKX BTC-USDT-SWAP	+0.0100%	8h	85,607.5	+0.033%	$2.59B	$12.16B	100x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	85,577	−0.002%	$3.8M	$17.8M	25x	as long as short
Arcus BTC-USDlong	+0.0100%	1h	85,578.9	long leg	$4.4M	$98.4M	40x
Gate BTC_USDT	+0.0100%	8h	85,591.3	+0.014%	$5.54B	$10.76B	200x	as long as short
MEXC BTC_USDT	+0.0100%	8h	85,599.6	+0.024%	$5.07B	$5.64B	500x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	85,592.2	+0.016%	$35.9M	$176.7M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	85,614	+0.041%	$153.6M	$564.6M	—	as long as short
edgeX BTCUSDC	+0.0100%	4h	85,619.2	+0.047%	$279.6M	$925.3M	100x	as long as short
GRVT BTC_USDT_Perp	+0.0100%	8h	85,677.6	+0.115%	$215.0M	$168.4M	50x	as long as short
ApeX Omni BTCUSDT	+0.0100%	1h	85,670.8	+0.107%	$140.1M	$315.7M	100x	as long as short
StandX BTC-USD	+0.0100%	1h	85,636.1	+0.067%	$30.3M	$207.9M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	85,649	+0.082%	—	$11.8M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	85,588	+0.011%	$11.1M	$14.3M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	85,583.1	+0.005%	$196K	$3.3M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	85,586.4	+0.009%	$2.4M	$8.7M	100x	as long as short
Bluefin BTC-PERP	+0.0100%	1h	85,633.4	+0.064%	$207K	$739K	40x	as long as short
Derive BTC-PERP	+0.0100%	1h	85,584.2	+0.006%	$30.0M	$50.1M	15x	as long as short
SunX BTC-USDT	+0.0100%	8h	85,577.5	−0.002%	$2.9M	$6.1M	100x	as long as short
HTX BTC-USDT	+0.0100%	8h	85,585.4	+0.008%	$2.27B	$946.2M	200x	as long as short
Bulk BTC-USD	+0.0100%	1h	85,665.1	+0.101%	$677.0M	$718.2M	40x	as long as short
Extended BTC-USD	+0.0104%	1h	85,561.7	−0.020%	$44.8M	$231.4M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0048%	1h	85,622.5	+0.051%	—	$107.7M	500x	as long as short
Coinbase International BTC-PERP-INTX	+0.0104%	1h	85,639.1	+0.070%	$117.0M	$5.22B	50x	as long as short
Kraken Futures PF_XBTUSD	+0.0135%	1h	85,623.4	+0.052%	$188.1M	$956.4M	100x	as long as short
RISEx BTC/USDC	+0.0174%	1h	85,619.1	+0.047%	$8.9M	$42.8M	25x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0201% / S −0.0177%	1h	85,597.6	+0.022%	$13.1M	—	200x	as long as short
Kalshi KXBTCPERP	+0.0220%	8h	85,635	+0.066%	$12.0M	$757.1M	6.4x	as long as short
Aftermath Perps BTCUSD	+0.0230%	1h	85,633.9	+0.064%	$78K	$220K	20x	as long as short
Hibachi BTC/USDT-P	+0.0256%	1h	85,633.7	+0.064%	$698K	$7.9M	30x	as long as short
Perpl BTC	+0.0335%	43m	85,609.9	+0.036%	$504K	$18.8M	6.7x	as long as short