Funding arb · Price arb /

BTC

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.002%

Price spread now: Pacifica against Bybit−0.023%7-day average +0.023% · you buy dearer than you sell

Net, funding: paid 7d − costs−$14as in the Funding arb table

Net, price: spread back to 7d avg − costs−$24as in the Price arb table

costs, in and out, $10k−$190.191% of the position

Long on Bybit Short on Pacifica

What this pair did over the last

the charts below follow

Funding, last 7 days+0.053%+$5 on $10k

Price spread, last 7 days+0.036%+$4 · spread now −0.023%, 7d avg +0.023%

Together, before fees+0.090%+ 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 0.045% cheaper against Bybit than usual: you would sell low and buy high, −$5 on $10k if it goes back to its 7-day average of +0.023%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit BTCUSDT	85,479.8	0.0100	pay 0.0100% / 8h	4h 41m	$5.24B	$9.69B	150x
Short	Pacifica BTC	85,460.3	0.0100	get 0.0013% / 1h	41m 26s	$40.0M	$575.8M	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 −0.023%Rate

Funding earned: $0
Price spread: −0.023% → +0.023%: −$4.53
Slippage, 4 orders: −$0.13
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Pacifica: 4 bp × 2 orders: −$8
Net: −$23.66
Costs to cover: 0.191%
Break-even: never at this rate

Slippage from Bybit: live order book, 3 min ago; Pacifica: live order book, 3 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 Bybit live order book, 3 min ago	0.01 bp	5.5 bp −$6	5.5 bp −$55	5.9 bp −$591	7.2 bp −$3,613
Sell Pacifica live order book, 3 min ago	0.06 bp	4.1 bp −$4	4.3 bp −$43	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
Bluefin BTC-PERP	−0.0434%	1h	85,519.1	+0.046%	$207K	$738K	40x	as long as short
Phoenix BTC	−0.0179%	1h	85,385	−0.111%	$2.2M	$10.3M	40x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	85,444	−0.042%	$8K	$3K	50x	as long as short
01 Exchange BTCUSD	−0.0048%	1h	85,441.7	−0.045%	$366K	$2.3M	50x	as long as short
BloFin BTC-USDT	−0.0031%	8h	85,441.9	−0.044%	$416.7M	$665.2M	150x	as long as short
KuCoin XBTUSDTM	−0.0007%	8h	85,422.7	−0.067%	$918.8M	$750.3M	125x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0005% / S −0.0004%	1h	85,481.7	+0.002%	$36.5M	—	200x	as long as short
Aster BTCUSDT	+0.0011%	8h	85,461.9	−0.021%	$515.0M	$1.10B	200x	as long as short
dYdX BTC-USD	+0.0014%	1h	85,433.8	−0.054%	$16.7M	$21.2M	50x	as long as short
Arcus BTC-USD	+0.0021%	1h	85,423.6	−0.066%	$6.9M	$97.2M	40x	as long as short

Show all 56 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado BTC-PERP	+0.0060%	1h	85,453.5	−0.031%	$22.7M	$219.1M	50x	as long as short
BingX BTC-USDT	+0.0060%	8h	85,473.6	−0.007%	—	$1.54B	—	as long as short
Bitget BTCUSDT	+0.0075%	8h	85,474.7	−0.006%	$2.96B	$5.03B	150x	as long as short
Reya BTCRUSDPERP	+0.0079%	1h	85,447.8	−0.037%	$6.7M	$146.7M	40x	as long as short
Aevo BTC-PERP	+0.0088%	1h	85,463.1	−0.019%	$2.4M	$1.7M	20x	as long as short
MEXC BTC_USDT	+0.0089%	8h	85,458.5	−0.025%	$5.05B	$5.59B	500x	as long as short
Binance BTCUSDT	+0.0089%	8h	85,485.3	+0.006%	$9.34B	$24.04B	150x	as long as short
Lighter BTC	+0.0096%	1h	85,435.8	−0.051%	$173.1M	$1.00B	50x	as long as short
Lighter RH BTC	+0.0096%	1h	85,444.1	−0.042%	$23.8M	$148.5M	50x	as long as short
Popdex BTCUSDT	+0.0096%	1h	85,448	−0.037%	$8.4M	$52.7M	100x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	85,417	−0.073%	$225K	$8.0M	50x	as long as short
Paradex BTC-USD-PERP	+0.0100%	8h	85,487.4	+0.009%	$4.2M	$8.5M	50x	as long as short
Hyperliquid BTC	+0.0100%	1h	85,522	+0.049%	$3.74B	$4.98B	40x	as long as short
Pacifica BTCshort	+0.0100%	1h	85,460.3	−0.023%	$40.0M	$575.8M	50x
Bybit BTCUSDTlong	+0.0100%	8h	85,479.8	long leg	$5.24B	$9.69B	150x
OKX BTC-USDT-SWAP	+0.0100%	8h	85,481.5	+0.002%	$2.58B	$12.10B	100x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	85,409	−0.083%	$3.9M	$18.0M	25x	as long as short
Gate BTC_USDT	+0.0100%	8h	85,477.5	−0.003%	$5.53B	$10.61B	200x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	85,400.2	−0.093%	$35.7M	$176.2M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	85,466.8	−0.015%	$153.8M	$563.2M	—	as long as short
edgeX BTCUSDC	+0.0100%	4h	85,527.2	+0.055%	$279.4M	$916.4M	100x	as long as short
GRVT BTC_USDT_Perp	+0.0100%	8h	85,511.2	+0.037%	$214.7M	$168.5M	50x	as long as short
ApeX Omni BTCUSDT	+0.0100%	1h	85,522.5	+0.050%	$139.9M	$314.9M	100x	as long as short
StandX BTC-USD	+0.0100%	1h	85,531	+0.060%	$30.2M	$207.6M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	85,499	+0.022%	—	$11.8M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	85,443	−0.043%	$11.0M	$14.2M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	85,471.9	−0.009%	$193K	$3.3M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	85,471.8	−0.009%	$2.3M	$8.8M	100x	as long as short
Derive BTC-PERP	+0.0100%	1h	85,470.1	−0.011%	$29.9M	$50.9M	15x	as long as short
SunX BTC-USDT	+0.0100%	8h	85,450	−0.035%	$2.9M	$6.1M	100x	as long as short
SoDEX BTC-USD	+0.0100%	1h	85,474	−0.007%	$59.9M	$336.1M	40x	as long as short
HTX BTC-USDT	+0.0100%	8h	85,400.1	−0.093%	$2.26B	$939.9M	200x	as long as short
Phemex BTCUSDT	+0.0100%	8h	85,406.8	−0.085%	$149.9M	$483.9M	150x	as long as short
Bulk BTC-USD	+0.0100%	1h	85,513.6	+0.039%	$649.6M	$594.9M	40x	as long as short
Extended BTC-USD	+0.0104%	1h	85,417.9	−0.072%	$44.5M	$226.5M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0056%	1h	85,449.9	−0.035%	—	$106.9M	500x	as long as short
Coinbase International BTC-PERP-INTX	+0.0104%	1h	85,439.1	−0.048%	$116.9M	$5.16B	50x	as long as short
Injective BTC/USDC PERP	+0.0150%	1h	85,539	+0.069%	$340K	$26.9M	52x	as long as short
Kraken Futures PF_XBTUSD	+0.0170%	1h	85,417.2	−0.073%	$188.2M	$954.0M	100x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0176% / S −0.0150%	1h	85,475.2	−0.005%	$13.4M	—	200x	as long as short
RISEx BTC/USDC	+0.0194%	1h	85,467	−0.015%	$8.3M	$42.4M	25x	as long as short
Hibachi BTC/USDT-P	+0.0200%	1h	85,502.4	+0.026%	$693K	$7.9M	30x	as long as short
Aftermath Perps BTCUSD	+0.0203%	1h	85,521.2	+0.048%	$78K	$219K	20x	as long as short
Deribit BTC-PERPETUAL	+0.0210%	1h	85,525.4	+0.053%	$893.9M	$1.53B	50x	as long as short
Kalshi KXBTCPERP	+0.0217%	8h	85,434	−0.054%	$10.4M	$758.8M	6.4x	as long as short
Perpl BTC	+0.0447%	43m	85,452.5	−0.032%	$497K	$18.9M	6.7x	as long as short