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Funding arb · Price arb /

BTC

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Alert: funding
Measured
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Checked every minute; it has to hold two checks in a row. Delivery to Telegram comes later, so for now alerts appear on the alerts page.

Alert: spread
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Funding you earn now, next payment 22:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.002%
Price spread now: Pacifica against Bullet+0.045%7-day average +0.016% · 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−$13as in the Price arb table
costs, in and out, $10k−$160.164% of the position
Long on BulletShort on Pacifica
What this pair did over the last
the charts below follow
Funding, last 3 days (all we have)+0.010%+$1 on $10k
Price spread, last 7 days−0.053%−$5 · spread now +0.045%, 7d avg +0.016%
Together, before fees−0.043%+ Points / potential airdropPacifica: Active · farm board−$4 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 0.029% dearer against Bullet than usual: you sell high and buy low, +$3 on $10k if it goes back to its 7-day average of +0.016%.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongBullet BTC-USD86,6120.0100pay 0.0013% / 1h8m 43s$196K$3.4M20x
ShortPacifica BTC86,650.80.0100get 0.0013% / 1h8m 43s$40.9M$498.0M50x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Pacifica against Bullet. 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

Funding earned
$0
Price spread: +0.045% → +0.016%
$2.92
Slippage, 4 orders
−$0.36
Fee Bullet: 4 bp × 2 orders
−$8
Fee Pacifica: 4 bp × 2 orders
−$8
Net
−$13.44
Costs to cover
0.164%
Break-even
never at this rate
Slippage from Bullet: live order book, just now; Pacifica: live order book, 5 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy Bullet live order book, just now0.06 bp4.1 bp −$46.8 bp −$68doesn't fitdoesn't fit
Sell Pacifica live order book, 5 min ago0.06 bp4.1 bp −$44.5 bp −$45doesn't fitdoesn't fit

BTC on 56 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Aftermath Perps BTCUSD−0.0249%1h86,701.3+0.103%$85K$188K20xas long as short
Perpl BTC−0.0223%43m86,643.1+0.036%$427K$24.6M6.7xas long as short
Phoenix BTC−0.0103%1h86,670+0.067%$2.2M$12.4M40xas long as short
Hotstuff BTC-PERP−0.0080%1h86,672+0.069%$9K$3K50xas long as short
dYdX BTC-USD−0.0064%1h86,646.1+0.039%$17.6M$20.6M50xas long as short
01 Exchange BTCUSD0.0000%1h86,641.7+0.034%$361K$2.4M50xas long as short
Deribit BTC-PERPETUAL0.0000%1h86,652.8+0.047%$928.0M$1.47B50xas long as short
Aster BTCUSDT+0.0001%8h86,600−0.014%$505.6M$1.16B200xas long as short
gTrade (Gains Network) BTC/USDL +0.0005% / S −0.0004%1h86,638.9+0.031%$36.8M—200xas long as short
KuCoin XBTUSDTM+0.0006%8h86,608.6−0.004%$852.0M$708.3M125xas long as short
Show all 56 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Reya BTCRUSDPERP+0.0022%1h86,610.5−0.002%$6.7M$144.5M40xas long as short
BingX BTC-USDC+0.0029%8h86,599.9−0.014%—$15.4M—as long as short
Phemex BTCUSDT+0.0030%8h86,618.5+0.007%$150.0M$471.8M150xas long as short
Bitget BTCUSDT+0.0036%8h86,605.4−0.008%$2.95B$5.09B150xas long as short
Injective BTC/USDC PERP+0.0049%1h86,770+0.182%$316K$26.8M52xas long as short
Aevo BTC-PERP+0.0056%1h86,620.2+0.009%$2.4M$1.3M20xas long as short
MEXC BTC_USDT+0.0059%8h86,613.5+0.002%$5.19B$5.72B500xas long as short
Binance BTCUSDT+0.0059%8h86,610.2−0.002%$9.43B$24.38B150xas long as short
RISEx BTC/USDC+0.0063%1h86,634.2+0.026%$9.3M$41.9M25xas long as short
Gate BTC_USDT+0.0081%8h86,606.5−0.006%$5.85B$10.70B200xas long as short
Bybit BTCUSDT+0.0084%8h86,606.6−0.006%$5.26B$9.73B150xas long as short
OKX BTC-USDT-SWAP+0.0093%8h86,618.9+0.008%$2.55B$12.73B100xas long as short
Lighter BTC+0.0096%1h86,622.3+0.012%$171.7M$1.02B50xas long as short
Lighter RH BTC+0.0096%1h86,630+0.021%$24.1M$154.2M50xas long as short
Popdex BTCUSDT+0.0096%1h86,613+0.001%$8.5M$52.3M100xas long as short
Katana Perps BTC-USD+0.0100%8h86,609−0.003%$202K$6.8M50xas long as short
Paradex BTC-USD-PERP+0.0100%8h86,671.6+0.069%$4.8M$8.3M50xas long as short
Nado BTC-PERP+0.0100%1h86,606.6−0.006%$21.6M$235.1M50xas long as short
Hyperliquid BTC+0.0100%1h86,688+0.088%$3.81B$5.11B40xas long as short
Pacifica BTCshort+0.0100%1h86,650.8+0.045%$40.9M$498.0M50x
Ondo Perps BTC-USD.P+0.0100%1h86,6120.000%$3.9M$18.6M25xas long as short
Arcus BTC-USD+0.0100%1h86,687.3+0.087%$7.4M$94.9M40xas long as short
Bulk BTC-USD+0.0100%1h86,682.4+0.081%$572.6M$21.1M40xas long as short
Backpack BTC_USDC_PERP+0.0100%1h86,616.5+0.005%$38.2M$149.8M75xas long as short
Variational Omni BTC+0.0100%8h86,672.4+0.070%$160.1M$567.0M—as long as short
edgeX BTCUSDC+0.0100%4h86,681.2+0.080%$280.0M$941.4M100xas long as short
GRVT BTC_USDT_Perp+0.0100%8h86,681.4+0.080%$217.5M$186.9M50xas long as short
ApeX Omni BTCUSDT+0.0100%1h86,695.9+0.097%$141.5M$322.8M100xas long as short
StandX BTC-USD+0.0100%1h86,717.6+0.122%$30.8M$203.7M40xas long as short
Vest BTC-PERP+0.0100%1h86,678.8+0.077%—$11.6M50xas long as short
Polymarket Perps BTC-USD+0.0100%1h86,616+0.005%$11.1M$13.7M50xas long as short
Bullet BTC-USDlong+0.0100%1h86,612long leg$196K$3.4M20x
Orderly PERP_BTC_USDC+0.0100%8h86,640.9+0.033%$2.4M$8.6M100xas long as short
Bluefin BTC-PERP+0.0100%1h86,644.3+0.037%$141K$619K40xas long as short
Derive BTC-PERP+0.0100%1h86,622.7+0.012%$30.0M$61.8M15xas long as short
SunX BTC-USDT+0.0100%8h86,675.1+0.073%$3.4M$5.5M100xas long as short
SoDEX BTC-USD+0.0100%1h86,619+0.008%$60.5M$336.7M40xas long as short
HTX BTC-USDT+0.0100%8h86,616.5+0.005%$2.30B$960.3M200xas long as short
Extended BTC-USD+0.0104%1h86,595.8−0.019%$46.4M$226.5M50xas long as short
Jupiter Perps WBTC-PERPL +0.0104% / S +0.0048%1h86,653.3+0.048%—$98.8M500xas long as short
Kraken Futures PF_XBTUSD+0.0117%1h86,649.9+0.044%$187.4M$934.3M100xas long as short
Coinbase International BTC-PERP-INTX+0.0120%1h86,664.6+0.061%$131.7M$5.83B50xas long as short
Kalshi KXBTCPERP+0.0170%8h86,657+0.052%$9.5M$727.7M6.4xas long as short
BloFin BTC-USDT+0.0179%8h86,619.9+0.009%$416.5M$655.5M150xas long as short
GMX BTC/USD [WBTC.b-USDC]L +0.0180% / S −0.0209%1h86,635.1+0.027%$15.0M—200xas long as short
Hibachi BTC/USDT-P+0.0184%1h86,702.6+0.105%$779K$7.9M30xas long as short