Funding you earn now, next payment 23:00 UTC−0.0100%/8h= −10.9% APRnext payment −$0.13 per $10,000 · paid last 24h +0.029%
Price spread now: Deribit against Pacifica+0.031%7-day average +0.018% · you sell dearer than you buy
Net, funding: paid 7d − costs−$19as in the Funding arb table
Net, price: spread back to 7d avg − costs−$14as in the Price arb table
costs, in and out, $10k−$150.152% of the position
Funding, last 7 days−0.034%−$3 on $10k
+Price spread, last 3 days (all we have)−0.048%−$5 · spread now +0.031%, 7d avg +0.018%
=Together, before fees−0.082%+ Points / potential airdropPacifica: Active · farm board−$8 on $10k · with fees, hour by hour
The price spread sits at its 7-day average of +0.018%, so right now this pair is about funding alone: −$3 a day on $10k at the current rate.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Pacifica BTC | 86,410.8 | 0.0100 | pay 0.0013% / 1h | 26m 20s | $40.7M | $513.3M | 50x |
| Short | Deribit BTC-PERPETUAL | 86,437.6 | 0 | get 0.0000% / 1h | 26m 20s | $921.3M | $1.48B | 50x |
Pacifica BTC
Deribit BTC-PERPETUALFunding history
latest
Range statsloading…
Price spread between the two exchanges
Deribit 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
- −$21
- Price spread: +0.031% → +0.018%
- $1.31
- Slippage, 4 orders
- −$0.17
- Fee Pacifica: 4 bp × 2 orders
- −$8
- Fee Deribit: 3.5 bp × 2 orders
- −$7
- Net
- −$34.86
- Costs to cover
- 0.152%
- Break-even
- never at this rate
Slippage from Pacifica: live order book, 3 min ago; Deribit: 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 Pacifica live order book, 3 min ago | 0.06 bp | 4.1 bp −$4 | 5.0 bp −$50 | doesn't fit | doesn't fit |
| Sell Deribit live order book, 3 min ago | 0.03 bp | 3.5 bp −$4 | 3.5 bp −$35 | 4.1 bp −$408 | 11.8 bp −$5,917 |
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 | −0.0398% | 1h | 85,547.9 | −0.999% | $139K | $618K | 40x | as long as short |
| Phoenix BTC | −0.0159% | 1h | 86,388 | −0.026% | $2.2M | $11.8M | 40x | as long as short |
| Hotstuff BTC-PERP | −0.0080% | 1h | 86,381 | −0.034% | $9K | $3K | 50x | as long as short |
| Aftermath Perps BTCUSD | −0.0051% | 1h | 86,456.4 | +0.053% | $82K | $216K | 20x | as long as short |
| Aster BTCUSDT | −0.0012% | 8h | 86,391.1 | −0.023% | $504.2M | $1.15B | 200x | as long as short |
| 01 Exchange BTCUSD | −0.0008% | 1h | 86,390.4 | −0.024% | $358K | $2.4M | 50x | as long as short |
| KuCoin XBTUSDTM | 0.0000% | 8h | 86,384.6 | −0.030% | $851.0M | $710.9M | 125x | as long as short |
| Perpl BTC | 0.0000% | 43m | 86,391.2 | −0.023% | $422K | $23.8M | 6.7x | as long as short |
| Deribit BTC-PERPETUALshort | 0.0000% | 1h | 86,437.6 | +0.031% | $921.3M | $1.48B | 50x | |
| dYdX BTC-USD | +0.0002% | 1h | 86,413.7 | +0.003% | $17.0M | $21.1M | 50x | as long as short |
Bluefin BTC-PERP
Phoenix BTC
Hotstuff BTC-PERP
Aftermath Perps BTCUSD
Aster BTCUSDT
01 Exchange BTCUSD
KuCoin XBTUSDTM
Perpl BTC
dYdX BTC-USDShow all 56 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| gTrade (Gains Network) BTC/USD | L +0.0005% / S −0.0004% | 1h | 86,411.9 | +0.001% | $36.8M | — | 200x | as long as short |
| RISEx BTC/USDC | +0.0006% | 1h | 86,370.8 | −0.046% | $8.5M | $43.1M | 25x | as long as short |
| Reya BTCRUSDPERP | +0.0022% | 1h | 86,388.4 | −0.026% | $6.7M | $144.9M | 40x | as long as short |
| Injective BTC/USDC PERP | +0.0024% | 1h | 86,559 | +0.171% | $315K | $26.8M | 52x | as long as short |
| Phemex BTCUSDT | +0.0032% | 8h | 86,407.3 | −0.004% | $149.1M | $476.1M | 150x | as long as short |
| BingX BTC-USDC | +0.0034% | 8h | 86,380.1 | −0.036% | — | $15.3M | — | as long as short |
| Bitget BTCUSDT | +0.0044% | 8h | 86,393.2 | −0.020% | $2.95B | $5.10B | 150x | as long as short |
| MEXC BTC_USDT | +0.0060% | 8h | 86,398.2 | −0.015% | $5.12B | $5.68B | 500x | as long as short |
| Binance BTCUSDT | +0.0061% | 8h | 86,400 | −0.013% | $9.41B | $24.39B | 150x | as long as short |
| Hibachi BTC/USDT-P | +0.0064% | 1h | 86,431.8 | +0.024% | $716K | $8.2M | 30x | as long as short |
| Aevo BTC-PERP | +0.0064% | 1h | 86,408 | −0.003% | $2.4M | $1.3M | 20x | as long as short |
| Gate BTC_USDT | +0.0076% | 8h | 86,397.8 | −0.015% | $5.85B | $10.70B | 200x | as long as short |
| Bybit BTCUSDT | +0.0090% | 8h | 86,399.6 | −0.013% | $5.25B | $9.75B | 150x | as long as short |
| Lighter BTC | +0.0096% | 1h | 86,382.3 | −0.033% | $170.8M | $1.01B | 50x | as long as short |
| Lighter RH BTC | +0.0096% | 1h | 86,403.8 | −0.008% | $24.0M | $152.2M | 50x | as long as short |
| Popdex BTCUSDT | +0.0096% | 1h | 86,382 | −0.033% | $8.4M | $52.3M | 100x | as long as short |
| SoDEX BTC-USD | +0.0099% | 1h | 86,402 | −0.010% | $60.4M | $337.2M | 40x | as long as short |
| Katana Perps BTC-USD | +0.0100% | 8h | 86,350 | −0.070% | $203K | $6.9M | 50x | as long as short |
| Paradex BTC-USD-PERP | +0.0100% | 8h | 86,410.5 | 0.000% | $4.8M | $8.5M | 50x | as long as short |
| Nado BTC-PERP | +0.0100% | 1h | 86,394 | −0.020% | $22.0M | $234.3M | 50x | as long as short |
| Hyperliquid BTC | +0.0100% | 1h | 86,460 | +0.057% | $3.80B | $5.10B | 40x | as long as short |
| Pacifica BTClong | +0.0100% | 1h | 86,410.8 | long leg | $40.7M | $513.3M | 50x | |
| OKX BTC-USDT-SWAP | +0.0100% | 8h | 86,399.9 | −0.013% | $2.53B | $12.72B | 100x | as long as short |
| Ondo Perps BTC-USD.P | +0.0100% | 1h | 86,351 | −0.069% | $3.9M | $18.6M | 25x | as long as short |
| Arcus BTC-USD | +0.0100% | 1h | 86,439.3 | +0.033% | $7.4M | $94.2M | 40x | as long as short |
| Bulk BTC-USD | +0.0100% | 1h | 86,343.9 | −0.077% | $570.6M | $18.8M | 40x | as long as short |
| Backpack BTC_USDC_PERP | +0.0100% | 1h | 86,386.8 | −0.028% | $37.9M | $154.8M | 75x | as long as short |
| Variational Omni BTC | +0.0100% | 8h | 86,435.6 | +0.029% | $155.8M | $566.3M | — | as long as short |
| edgeX BTCUSDC | +0.0100% | 4h | 86,370.9 | −0.046% | $279.1M | $946.3M | 100x | as long as short |
| GRVT BTC_USDT_Perp | +0.0100% | 8h | 86,399.5 | −0.013% | $216.9M | $174.6M | 50x | as long as short |
| ApeX Omni BTCUSDT | +0.0100% | 1h | 86,399.7 | −0.013% | $141.3M | $323.0M | 100x | as long as short |
| StandX BTC-USD | +0.0100% | 1h | 86,388.4 | −0.026% | $30.7M | $203.6M | 40x | as long as short |
| Vest BTC-PERP | +0.0100% | 1h | 86,426.7 | +0.018% | — | $11.6M | 50x | as long as short |
| Polymarket Perps BTC-USD | +0.0100% | 1h | 86,386 | −0.029% | $11.0M | $13.7M | 50x | as long as short |
| Bullet BTC-USD | +0.0100% | 1h | 86,399 | −0.014% | $191K | $3.3M | 20x | as long as short |
| Orderly PERP_BTC_USDC | +0.0100% | 8h | 86,403.6 | −0.008% | $2.4M | $8.6M | 100x | as long as short |
| Derive BTC-PERP | +0.0100% | 1h | 86,410.3 | −0.001% | $30.0M | $61.6M | 15x | as long as short |
| SunX BTC-USDT | +0.0100% | 8h | 86,395.5 | −0.018% | $3.4M | $5.4M | 100x | as long as short |
| HTX BTC-USDT | +0.0100% | 8h | 86,377.5 | −0.039% | $2.29B | $967.8M | 200x | as long as short |
| Extended BTC-USD | +0.0104% | 1h | 86,347.5 | −0.073% | $45.7M | $226.3M | 50x | as long as short |
| Jupiter Perps WBTC-PERP | L +0.0104% / S +0.0048% | 1h | 86,399.7 | −0.013% | — | $98.7M | 500x | as long as short |
| Coinbase International BTC-PERP-INTX | +0.0112% | 1h | 86,450.8 | +0.046% | $132.2M | $5.70B | 50x | as long as short |
| Kraken Futures PF_XBTUSD | +0.0121% | 1h | 86,434.5 | +0.027% | $191.4M | $943.1M | 100x | as long as short |
| BloFin BTC-USDT | +0.0181% | 8h | 86,399.4 | −0.013% | $414.5M | $653.3M | 150x | as long as short |
| GMX BTC/USD [WBTC.b-USDC] | L +0.0183% / S −0.0212% | 1h | 86,406.8 | −0.005% | $15.3M | — | 200x | as long as short |
| Kalshi KXBTCPERP | +0.0195% | 8h | 86,413 | +0.003% | $9.7M | $731.2M | 6.4x | as long as short |
gTrade (Gains Network) BTC/USD
RISEx BTC/USDC
Reya BTCRUSDPERP
Injective BTC/USDC PERP
Phemex BTCUSDT
BingX BTC-USDC
Bitget BTCUSDT
MEXC BTC_USDT
Binance BTCUSDT
Hibachi BTC/USDT-P
Aevo BTC-PERP
Gate BTC_USDT
Bybit BTCUSDT
Lighter BTC
Lighter RH BTC
Popdex BTCUSDT
SoDEX BTC-USD
Katana Perps BTC-USD
Paradex BTC-USD-PERP
Nado BTC-PERP
Hyperliquid BTC
OKX BTC-USDT-SWAP
Ondo Perps BTC-USD.P
Arcus BTC-USD
Bulk BTC-USD
Backpack BTC_USDC_PERP
Variational Omni BTC
edgeX BTCUSDC
GRVT BTC_USDT_Perp
ApeX Omni BTCUSDT
StandX BTC-USD
Vest BTC-PERP
Polymarket Perps BTC-USD
Bullet BTC-USD
Orderly PERP_BTC_USDC
Derive BTC-PERP
SunX BTC-USDT
HTX BTC-USDT
Extended BTC-USD
Jupiter Perps WBTC-PERP
Coinbase International BTC-PERP-INTX
Kraken Futures PF_XBTUSD
BloFin BTC-USDT
GMX BTC/USD [WBTC.b-USDC]
Kalshi KXBTCPERP